Why is the fed most worried about inflation and not the poor?

The fed wants to lower interest rates, again. Why isn’t Bernake worried about the poor & next to poor?

The lawmakers are fully invested overseas, they don’t care about the dropping value of the dollar. However, over the last 4 years, it’s continued to decline, because of the fed. Which then takes money from the poor.

This is on top of the first 5 years of office, where there was zero wage growth, under the current president. Essentially, between Bush’s policies and Bernake’s, we’re pushing the poor further & further away from the rich, and creating no end of economic difficulties.

To add to that: the federal minimum wage hasn’t been increased in years, either, but we did give tax breaks to the richest (from 38% to 35%)…couple this with the state budget crisis, and the nearly half a trillion dollars spent on Iraq…why is the Fed so interested in helping the rich?

It’s lunacy. Or am I wrong, and I have all the facts backwards?

Answer #1

FYI domzilla, the creation of the Fed in 1917 was the cause of the roaring 20’s followed by the great depression, not the other way around.

If not for money manipulation made possible through the creation of the Federal Reserve, neither the roaring 20s nor the great depression would have happened at all.

Answer #2

Go to YouTube then type in “Free Mason” or “Jesuits” or “Trilateral Commission” or “Illumanti” or “one world government, or “one world order” or “North American Union” That should get you started, and if you’ve already seen the videos then you are way out in front of most of the population (sheep) of our world.

Answer #3

I would like to know why are people willing to settle for minimum wage. People come here from all over the world because this is the land of opportunity and most become weatlthy. Most poor people in this country are poor because they choose to be. Not all but most. It’s call a lack of initiative that’s why they settle for minimum wage. I know many uneducated self made millionaires or very well off individuals. They got their money because they had a dream and took initiative. People in this country because of the educational intitution have lost the ability to dream at all. They are taught go to school, learn a trade and then go make someone esle rich. Built their dreams instead of your own.

Answer #4

They used the great depression to scare America into allowing the recreation of the Federal Reserve saying that allowing there to be a FED would keep it from happening again. This FED allows the world bankers to exert unprecedented amount of political and governmental control. All of which leading inevitably through war’s that make them richer. World war I and the current war on terror were both orchestrated through allowing Pearl Harbor and also the World Trade Center to scare us into fighting a war we weren’t originally in the mood for as Americans. Their goal is a never ending war where they can destroy and rebuild destroy and rebuild to continue to make money. All of this will conclude in a One world government or New world order headed by the elite bankers. The following are a list of actual quotes that will shed light on this subject.

“I believe that banking institutions are more dangerous than standing armies… If the American people ever allow private banks to control the issue of currency… The banks and corporations that will grow up around them will deprive the people of their property until their children wake up homeless on the continent their fathers conquered.” Thomas Jefferson 1743 -1846

“If you want to remain slaves of the bankers and pay for the costs of you own slavery, let them continue to create money and control the nations credit.” Sir Josiah Stamp 1880 - 1941

“We shall have world government whether or not we like it. The only question is whether world government will be achieved by conquest or consent.” Paul Warbur, Council on Foreign Relations/ Architect of the Federal Reserve System.

“We are grateful to the Washington Post, The New York Times, Time magazine and other great publications whose discretors have attended out meetings and respected their promises of discretion for almost 40 years. It would have been impossible for un to develop our plan for the world if we had been subjected to the lights of publicity during those years. But, the world is more sophisticated and prepared to march towards a world government. The supernational sovereignty of an intellectual elite and the world bankers is surely preferable to the national auto-determination practiced in past centuries.” David Rokefeller Council on foreign relations

One bank, one army, one center of power. And if we have learned anything from history.. it is that (“Power corrupts, and absolute power corrupts absolutely” Lord Acton English historian 1834 - 1902)

Answer #5

The fed doesn’t create policy. The only tool the fed has at its disposal is short term interest rates.

The strength of the dollar is closely coupled to money supply, which is greatly determined by the legislative and executive branches through spending and borrowing and insurance programs like FDIC etc.

Bush’s administration has been running the economy on a ‘guns and butter’ philosophy. They’ve drastically increased spending, while simultaneously reducing taxes. They’re financing the difference by printing money (in essence, although the specifics are more complicated of course).

Of course, when you print money, the value of existing money goes down. This manifests itself as inflation at home, as well as a devaluing against foreign currencies.

You’re right that Bush’s policies amount to a form of insanity, but you’re blaming the wrong entity. Bush’s administration is the culprit, not the fed.

Answer #6

I guess I would have to respond by asking what you think the government should do about poverty in America.

While there are definately people in America that are living in desperate conditions and need aid, I don’t think it’s as epidemic as we may think. According to the Census Bureau, almost 40 million Americans are classified as poor. But that’s not the end of the story. The average poor American has more living space than the average individual living in Paris, London, Vienna, and many other European cities. Over 75% of those classified as poor own a car, and some own two. Home ownership has plummeted, but nearly half of those classified as poor own their own homes. Over 95% of poor households have color television, and about 75% have a VCR, cable or satellite, stereo, air conditioning, and automatic dishwasher. Hell, I live in Germany and I don’t even have an automatic dishwasher, cable TV, air conditioning, or a garage. If I was living back in the US right now, I’d probably be considered poor.

These are, of course, statistics (all from the Census Bureau). Some poor people have cell phones, while the bottom tenth have no phone at all. Most poor homes experience some shortage of food, almost 90% say they do have enough to eat and any food issues are temporary. The average poor person in America, however, is not experiencing the kind of poverty that you will see if you go to India, Africa, or South America, where people are truly living in destitution.

And solving American poverty is something I truly no longer believe the government is capable of doing. The average poor family with children is supported by 800 hours of work per year. If that number was lifted to 2000 (40 hour work week), about 75% of poor children would be lifted out of official poverty (see www.usccb.org/cchd/povertyusa/povpulse.htm.). That is with a minimum wage job, by the way

I am at the point where I believe personal responsibility with charitable support is what will lift Americans out of poverty. The government is not capable of helping, and as you point out, unwilling. However, poverty abroad is truly an issue, and a scary one. In this matter, the US government can help tremendously.

Answer #7

Yes true but it was abolished, then recreated after the 20’s and the depression. If you read my post carefully you’ll see that I said recreation not the first creation.

Answer #8

thedude, take a look at this, I know you will find it very interesting. It’ll open your eyes.

http://video.google.com/videoplay?docid=3340274697167011147&q=non+energy+crisis&total=62&start=0&num=10&so=0&type=search&plindex=0

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