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Default The Federal Reserve

I received this information from a friend today. Interesting stuff.

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I ran across this website by accident yesterday and was intrigued by the important movie project being undertaken – “Money for Nothing: Inside the Federal Reserve.” After doing some due diligence I decided to forward the message to all of you in hopes that you will access the link below, read about the project, and watch the short video.

http://www.kickstarter.com/projects/372518877/money-for-nothing-inside-the-federal-reserve

Over the past two years I have become an avid reader and very interested observer of the forces leading to the 2008-09 near collapse of the worldwide financial system. Those forces continue unabated and many observers, including me, believe we likely are headed for problems even worse than 2008-09. The Federal Reserve is openly, and very publicly, “managing” (manipulating) the credit markets with its QE1, QE2, Operation Twist, and now its recently announced QE-forever programs, including its intent to keep interest rates low through at least 2015. I am among the believers that the Federal Reserve, the major banks, and the U.S. Treasury quietly have their hands in “managing” (manipulating) other markets as well. The European central bank (ECB) is attempting to do the same for the Eurozone. Thus, the two largest economies (U.S. and Europe) are engaged in an intense (desperate, I believe) currency battle to maintain the dominance of the U.S. dollar as the international reserve currency.

First, I should make it clear that I am not an economist, though I do have an undergraduate degree in Economics, an MBA in Finance, and I worked in the Federal Reserve system for seven years (not in monetary policy, of course, and that was 35+ years ago). Notwithstanding this disclaimer, I believe our current worldwide financial situation is worse than in the pre-2008-09 period, and that gross manipulation of markets will once again lead to unintended consequences of major proportions, just as the almost unlimited liquidity provided by the Federal Reserve, along with accommodative fiscal policies by the government, led to the toxic mortgage “bubble” in 2008, with its own “unintended event” (Lehman Brothers) and “unintended consequence” (the near financial system melt-down).

Here is the link to one of the shorter reviews:

http://www.janson.com/focus/secrecy-of-the-fed-in-the-spotlight-and-on-bruces-camera/

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