December 23, 2013

Thank you, President Wilson and Happy Birthday Federal Reserve! [Darleen Click]

It’s been 100 years and it has worked out soooo well!

On December 23, 2013, the Federal Reserve System will celebrate 100 years of centralized banking and printing funny money. The creation of the Fed marked the beginning of America’s rampant inflation rate. For the first 125 years of American independence, inflation of any significance did not occur. What $1.00 purchased in 1789 could be had for a very reasonable $1.08 by 1913. Measure that against what it costs today for the same amount of goods; roughly $25.00. This means the current value of today’s dollar is about .04 cents of what it was in 1913.

Ostensibly, the Federal Reserve System was put in place to prevent “bank panic,” stabilize the dollar and resist inflation. Democrat President Woodrow Wilson was convinced that “central planning” by the federal government could replace incremental market forces. He’d been influenced by a work of fiction called Phillip Dru: The Administrator, which glorified intrusive governmental intervention into every aspect of American life. In it, Colonel House – the book’s author and “adviser” to President Wilson – weaves a tale of “enlightened” central planning as a means to achieve “social justice.” So Wilson believed a Federal Reserve System would end poverty and cure all manner of imagined market woes. In a novel, even the most implausible concepts don’t have to be impossible.

It is important to note that the Great Depression did not happen until nearly two decades after the Federal Reserve System came to be. Socialist thinkers and Keynesian economists seem to believe that Capitalism itself was responsible for the market collapse. An interesting position to hold, considering that the 1929 stock market crash happened 15 years into the Fed’s command & control doctrine. The very same policies which were put into practice as a means to eliminate even the possibility of anything like that occurring can be directly linked to the Crash. They are also responsible for the Great Depression lasting 15 years longer that it should have. America should remember that, as the nation celebrates 100 years of the Federal Reserve System pumping trillions in virtually counterfeit funny money, into the economy.

Flipping through the channels last night and found Die Hard playing.

Remember this?
1988diehard
“Nakatomi Towers” aka Fox Plaza in the Century City area of Los Angeles circa 1988. Only 25 years ago. Where gas today is $3.50/gal.

Heck of a job, Feds!

h/t John Fund

Posted by Darleen @ 9:52am
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Comments (24)

  1. it sucks when your birthday’s so close to christmas

  2. Yeah, happyfeet – no WAY I’m going to get them more than one present.

  3. My birthday is on Christmas.

  4. Darleen,

    I was watching Die Hard last weekend while decorating the Christmas tree (it is a Christmas movie, after all) and those gas prices caught my eye as well.

    I remember thinking how intolerable it was when gas prices in the early 90′s went up to over a dollar a gallon. Imagine that, a dollar! Per gallon! That’s highway robbery! Remember how on the older pumps with mechanical counters that couldn’t be set above $1 a gallon, some stations set them to half the actual cost and the posted a sign reading (Actual Prices = x2″?

  5. My birthday is on Christmas

    Well then Merry Birthday and a Happy Christmas to you, Leigh!

  6. Thanks, Dave! May all your Christmases be bright.

  7. OT:

    Behold! The New New Soviet Man!

    Look upon his works and chortle

  8. I remember thinking how intolerable it was when gas prices in the early 90?s went up to over a dollar a gallon.

    “The Workingman’s Friend” gas, 25 cents in 197o.

  9. Damn. I was going to make a crack about eloi, but Driscoll beat me to the punch.

  10. My nephew’s b-day is Dec 31, so to avoid conflation with Christmas, they celebrate it on July 31.

  11. TWO presents for leigh, though!

  12. Ernst

    Ha…saw that VDH article, too. Just posted on it … including the PJBoyAsChe photoshop!

  13. Leigh

    hubby’s b-day is the 21st. I make it a point to have a separate celebration.

    Happy Birthday on the 25th!

  14. Thanks! I always got a little party at Grandma’s, so I never minded.

    Happy birthday to hubby.

  15. The spin coming out of DC now is that we were supposed to make fun of PajamaBoy, so that we wouldn’t want to be like him and not get signed up for 404Care.

    In other news, Obama’s lickspittles have discovered that people DO live in all that land they see under their planes.

  16. Happy Birthday leigh if you are out having a life the rest of the week.

    My birthday is the 31st. It often gets missed in the excitement and as a kid there wasn’t a whole lot of cash left after Christmas.

  17. My Mom’s Birthday was on the 19th.

  18. I live next door to the Woodrow Wilson Presidential Library. If they’re celebrating the 100th anniversary of the Federal Reserve, they’re doing it with shades closed and lights off. Are even WWPL employees ashamed of the Fed, or are they celebrating in secret, hoping the general public won’t find out?

  19. Woodrow Wilson is a dead white guy who lived, like, 100 years ago and probably spoke an archaic form of English and signed his legislation in rune letters.

  20. leigh says December 23, 2013 at 10:50 am
    My birthday is on Christmas.
    - See more at: http://proteinwisdom.com/?p=52263#comments

    Yes. Happy Birthday!!!
    I hope you get a lot of great presents.

  21. Thanks, Mueller.

    Merry Christmas!

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