Many people think the worst and most pressing sin confronting our nation today is abortion. After all, well over 54 million babies have been slaughtered since abortion on demand was first declared the “the law of the land” by the Supreme Court in 1973. Today we see videos of the butchers at Planned Parenthood wining and dining while discussing the price of fetal body parts to be sold for medical research that would have made the Nazis proud. As grizzly and inhuman as wholesale legalized abortion is, the fact that abortion is legal doesn’t mean that a single baby must die. A moral God fearing people would simply refuse to murder their own children. Besides, the government isn’t lining up pregnant women forcing them to undergo abortions at gun point … at least not yet.
While that day may come (who knows maybe “global warming” will be the pretext to forced slaughter), the biggest sin is the one the Federal Government perpetrates right under our noses through the manipulation of our monetary system by means of the private bankers at the Federal Reserve. This is all done with the blessings, albeit without the oversight, of our elected officials and in violation of our Constitution. It is fraud on a mass scale and one that steals the wealth of everyone except the well-connected few who have mastered the game and who profit immensely at the expense of the widow, the poor and the rest of us schlubs. Ron Paul rightly called the devaluation of our dollars (what some mistake for inflation through rising prices for goods and services) a “hidden tax.” To think we once fought a war over taxation without representation, today we willingly accept the surreptitious theft of our personal wealth simply because we don’t see it on our bank ledger. While correcting this problem may require taking up arms again, the problem is most people simply do not know the extent of the fraud being perpetrated against them. Frankly, I can hardly grasp the extent of it and have only in recent years been trying to catch up. I always thought critics of the Federal Reserve were conspiracy wack jobs who were waiting to be fitted for their tinfoil hats. Besides, the Federal Government can always blame the rising prices at your local supermarket on tsunamis, earthquakes, e-coli outbreaks, or one of the endless wars in the Middle East. Every economic bubble that bursts can always be blamed on something else. They’ll never admit that any economic ill is the result of “quantitative easing” or some other Fed created monetary distortion. That would let the genie out of the bag and reveal that The Great And Powerful Oz is just the gray haired old Jewish lady now in charge of the Federal Reserve.
Thankfully Steve Matthews has started to pull back the curtain in the recent issue of Trinity Review with his piece: “The Fed, Fiat Currency, and Feckless Keynesian Economics.” Matthews provides thumbnail sketches exposing the biggest fraud in history and its causes. Here are Matthews’ big three:
Central Banking … “the Fed is and has been since its creation the premier crony capitalist institution in the US. It was a way of allowing the bankers to privatize their profits while socializing their risks.”
Fiat Currency … “The ability to counterfeit a currency allows central banks and those closely connected to them to essentially strip mine the assets of a nation and concentrate wealth in the hands of a few very wealthy, well-connected individuals. After all, those hundreds of billions and trillions of dollars created by the Fed end up first in the hands of the too-big-to-fail banks, who can then take that money and buy stocks, bonds, and real estate before the rise in prices created by all that new money kicks in.”
Keynesian Economics … “Keynes denied that free market principles applied to wage rates. And because he believed wages would not fall in response to lower demand from the marketplace, he concluded that the economies of the industrialized nations were stuck in a vicious cycle of workers demanding more money than businesses were willing to pay, thus causing the extended depression experienced in the West during the 1930s. In order to break this cycle, Keynes proposed that governments needed to stimulate their economies by spending money that private business refused to spend.”
Concerning the last point on Keynesian economics, when you factor in the evils of a central bank with their ability to print money out of thin air, the way Keynesian economists accomplish paying workers less than businesses are willing to pay is by simply devaluing the currency. That bit of evil Machiavellian brilliance was something I first came across in Brian Doherty’s review of Nickholas Wapshott’s book: Keynes/Hayek: The Clash That Defined Modern Economies in Reason magazine. Doherty writes:
In a 1930s context of very powerful unions, Keynes thought it was politically impossible to achieve the nominal wage reductions necessary to clear the market for labor—that is, to let wages fall so that hiring would be cheaper and unemployment thereby reduced. He instead promoted inflation as a means to trick labor into taking lower real wages.
Of course, by “inflation” Doherty means the end result of the Fed simply printing more money and the deception continues. But, the real question is when will Christians realize that they have a responsibility to expose the sins of nations, even those nations like the United States that create money out of thin air.