The only word I can think of when I hear the name Ben Bernanke, Retired Federal Reserve Chairman, is double-cross. Since he’s been the Feds chairman, the gross assets of this organization has grown from $834,663,000,000 in 2006 to $4,102,138,000,000 in 2014. That’s a 391 percent increase!
As the value of the dollar plummets and the cost of living increases, the Feds made almost 400 percent on their return since 2006—and that’s not including all the billions of dollars of interest they collect each and every year from it.
Remember, the Feds are supposed to be our friends. They are the ones who were set up to keep the American economy solvent, banks stable and stabilize the economy from any crashes.
Now let’s look at how the Feds made their fortune…It bought trillions of dollars of both treasury and most importantly Freddie Mac and Fannie Mae mortgage-backed securities. The Fed purchased these mortgage securities over the last five years in its attempts to stimulate the economy. It seems ironic how the same organization that was meant to stabilize our economy has had the greatest impact on destabilizing it through Freddie Mac/Fannie Mae program and the most to gain through increasing national debt.
Though, the point could further be belabored, numbers speak for themselves. And these numbers speak loud and clear: DOUBLE-CROSS. We’ve been duped by the Feds into thinking that they are helping. When, in fact, they are the source of the economic woes that America now faces. Don’t forget what caused the economy to go bust in 2008- Fannie Mae and Freddie Mac.
Why is this not front page news? Why aren’t we Americans yelling foul at this egregious misappropriation of American funds?