Ron Paul: Will the Fed Lose Control?
According to new reports from the Social Security and Medicare trustees, Social Security and a Medicare fund that pays for hospital expenses will both begin running deficits in 2035 and 2036. Disappointingly, but not surprisingly, Congress was too preoccupied spending billions more on military aid for foreign countries and banning TikTok to pay attention to the looming bankruptcy of the two largest federal entitlement programs.
Many in Congress no doubt believe they can ignore the impending bankruptcy of Social Security and Medicare because they can count on the Federal Reserve to do the “dirty work” of cutting real benefits and raising taxes. This result can be produced via the hidden, and regressive, “inflation tax.”
The Federal Reserve makes the debt-financed welfare-warfare state possible by monetizing the federal debt. This is one reason why, even though interest on the debt is now the third largest item in the federal budget behind Social Security and Medicare and ahead of military spending, there are so few in Congress serious about cutting welfare or warfare. Those few who seek real spending cuts in welfare are smeared as “heartless” while those seeking real cuts in warfare are smeared as “anti-American” by the uniparty.
The government’s excessive spending and debt is leading to what some economists call “fiscal dominance.” Fiscal dominance occurs when a central bank must prioritize monetizing ever higher levels of government debt, giving Congress de facto control over monetary policy.
The Federal Reserve’s purchase of federal debt will result in price inflation. It will also encourage more government spending by reinforcing the uniparty delusion that, as former Vice President Dick Cheney said, “deficits don’t matter.” The Federal Reserve’s inflationary policies artificially lower the interest rates, which are the price of money. The artificially low interest rates distort the signals sent to investors and entrepreneurs, leading to malinvestment. This creates bubbles resulting in illusionary prosperity. Eventually, economic reality will catch up with the Fed-created illusions and the bubbles will burst, causing an economic downturn.
The next economic crisis will likely either be caused by or result in a rejection of the dollar’s world reserve currency status. Congress will be forced to make drastic cuts in spending while the Fed will be enabled to monetize the debt. This will result in massive public unrest potentially resulting in violence, the rise of authoritarian movements on the left and right, and increasing authoritarianism.
The only way to avoid this fate is for a critical mass of Americans to demand Congress immediately begin rolling back the welfare-warfare state, starting with our bloated military budget. The savings from this can be used to help protect those currently reliant on government welfare and entitlement programs as those programs are phased out and the job of providing aid is returned to private charities, churches, and local communities. Congress should also rein in the Federal Reserve by passing the Audit the Fed bill, legalizing alternative currencies, and forbidding the Fed from purchasing government debt.
Since the 2008 meltdown, Federal Reserve apologists have spent a lot of time saying that Audit the Fed puts Congress in charge of monetary policy while ignoring the fact that a real threat to the central bank’s autotomy is the growth in federal spending and debt. The goal, though, should be to abolish the Federal Reserve, not protect it. Those who truly want a monetary system free from political interference should join the movement to restore government’s constitutional limits and separate money and state.
This article first appeared at RonPaulInstitute.org.
BREAKING: Mass Casualty Incident as Bus Carrying ‘Migrant Workers’ Crashes In Florida
At least eight people died and dozens more were injured when a bus carrying ‘migrant workers’ crashed in Florida on Tuesday, according to reports.
The tragedy unfolded at around 6:30 a.m. in Marion County near Ocala.
A large bus carrying roughly 53 workers to a watermelon farm collided with a pickup truck in a “sideswiping manner” for “reasons to be determined” and rolled over after leaving the pavement, Florida Highway Patrol (FHP) told local media.
BREAKING – Multiple deaths reported in crash involving migrant bus in Marion County, Florida (? SkyFox) pic.twitter.com/JXdbBNmoOD
— Insider Paper (@TheInsiderPaper) May 14, 2024
Eight passengers have been declared deceased at the time of this writing, while 45 more were hospitalized, at least eight of whom were in critical condition.
The Marion County Sheriff’s Office immediately quashed rumors that the wreck involved a local school bus or students.
SR-40 will be closed for an extended period of time, according to FHP.
InfoWars will monitor this story as it develops.
All Hell Is Gonna Break Loose
Americans know in their gut that the despotism demonically possessing the federal government is only getting started.
Also, check out: Biden’s Election Stealing Border Hell
Biden DOJ Demands Judge Order Steve Bannon to Begin 4-Month Prison Sentence
Prosecutors with Joe Biden’s Justice Department on Tuesday requested the judge overseeing ex-Trump adviser Steve Bannon’s contempt of Congress case order that he begin serving his 4-month prison sentence.
The D.C. Circuit Court of Appeals last week rejected Bannon’s appeal on all grounds.
“Consequently, there is no longer a ‘substantial question of law that is likely to result in a reversal or an order for a new trial,’” prosecutors wrote in their filing Tuesday.
While awaiting #TrumpTrial resumption at 9:30, just filed in DDC, this: DOJ asking for stay of sentence for Steve Bannon to be lift, given DC Circuit’s recent denial of his appeal. On alert for any response – watch this feed pic.twitter.com/t0ae69Ai1c
— Inner City Press (@innercitypress) May 14, 2024
“I’m shocked they want to silence the voice of MAGA,” Bannon told ABC News on Tuesday.
Bannon was sentenced to four months in prison for contempt in October 2022, but U.S. District Judge Carl Nichols agreed to postpone the jail term while Bannon appealed the decision.
The three-judge panel of the D.C. Circuit Court of Appeals said in its opinion Friday, “We conclude that none of the information sought in the trial subpoenas was relevant to the elements of the contempt offense, nor to any affirmative defense Bannon was entitled to present at trial.”
“The judgment of conviction and sentence [is] affirmed,” the judges concluded.
Bannon is the second Trump adviser the DOJ has sought to jail.
White House adviser Peter Navarro began serving his 4-month prison term in March for also refusing to comply with a subpoena from the Jan. 6 Committee.
The Biden DOJ’s efforts to jail Trump and his advisers appear to be a desperate bid to turn polling around for Biden, who’s currently losing to Trump in most battleground states by wide margins despite the lawfare against him.
Ironically, the House Oversight Committee is moving to hold DOJ Attorney General Merrick Garland in contempt of Congress over his refusal to provide audio files of Special Counsel Robert Hur’s interview with Biden despite a subpoena from the committee.
“The House Oversight and Judiciary Committees issued lawful subpoenas to Attorney General Garland for the audio recordings of President Biden’s interview with Special Counsel Hur, yet he continues to defy our subpoenas,” Comer wrote on Monday.
“These audio recordings are important to our investigation of President Biden’s willful retention of classified documents and his fitness to be President of the United States,” he added. “There must be consequences for refusing to comply with lawful congressional subpoenas and we will move to hold Attorney General Garland in contempt of Congress.”
Even if Garland is somehow successfully held in contempt of Congress, it’s unlikely he’d actually be held accountable because he’s a top Democrat and Biden official.
Likewise, Hunter Biden in December defied a congressional subpoena to appear privately for a deposition before Republican investigators who have been digging into his business dealings. GOP lawmakers’ efforts to move forward with contempt of Congress proceedings in January stalled out in the House.
Trump Speaks Outside Courthouse: The Gag Order Has To Come Off!
Speaking to the press outside a New York City courthouse on Tuesday, presidential frontrunner Donald Trump slammed the Biden admin’s economic policies as well as the political persecution against him.
Since he’s barred from making certain comments about the case due to a gag order, Trump read quotes from political pundits and legal experts who have criticized the blatant lawfare.
?Donald Trump is joined in court by Vivek Ramaswamy, Speaker Mike Johnson, Doug Burgum, Byron Donalds, Cory Mills, Eric Trump and Lara Trump:
— Benny Johnson (@bennyjohnson) May 14, 2024
“The gag order has to come off— There’s never been anything like this in our country. It’s a scam.” pic.twitter.com/L3506zWhz9
Trump told the media, “The gag order has to come off… There’s never been anything like this in the history of our country. It’s a scam. It’s election interference at a level that’s never taken place before.”
Former Republican presidential candidate Vivek Ramaswamy, House Speaker Mike Johnson, GOP Florida Congressman Byron Donalds, Eric Trump, Lara Trump and others were at the courthouse to show support for the 45th President.
Biden Says Trump Should Have Injected Himself With Bleach
During a campaign fundraiser in private California residence Friday, President Joe Biden discussed his discontent over President Donald Trump’s pandemic response, saying his predecessor should have injected himself with bleach.
“Remember him saying the best thing to do is just invest — in — inject a little bleach in your arm? That’s what he said. And he meant it. I wish he had done a little bit himself,” Biden said.
Biden was referencing a misinterpretation of Trump’s statements made on April 24, 2020 when the former President discussed how bleach kills the coronavirus and that it would be nice if we had something that did that which could be injected into people.
“Then I see the disinfectant, where it knocks it out in a minute. One minute. And is there a way we can do something like that, by injection inside or almost a cleaning,” Trump said. “Because you see it gets in the lungs and it does a tremendous number on the lungs. So it would be interesting to check that.”
Trump was discussing methods of destroying the virus, including UV light and disinfectants.
The economy, schools and businesses were closed, we couldn’t travel, we couldn’t find toilet paper or water in stores, unemployment was at record highs and Trump told us to drink bleach. Yes, we are much better off now than 4 years ago. pic.twitter.com/XogoHr61Vr
— Jules Morgan ? (@glamelegance) May 13, 2024
Trump also clarified his statement that he was referring to bleach being good at sterilizing surfaces.
“It wouldn’t be through injection. We’re talking about through almost a cleaning, sterilization of an area. Maybe it works, maybe it doesn’t work. But it certainly has a big effect if it’s on a stationary object,” Trump said.
Biden’s daughter Ashley recently confirmed to a judge that her stolen diary, detailing inappropriate showers with Joe, is in fact authentic.
Bilderberg Spokesman Issues Desperate Warning: Trump Is Unstoppable