by Joseph P. Farrell, Death Star of Giza:
This article is, in a way, almost too good to be true, and it is symptomatic of what has been wrong for some time since, say, the founding of the Federal Reserve in the middle of the night during an expectation of Congress. closing with barely a quorum in sight. It was perhaps the first “Pelosi Moment” in American history, when we “have to vote and adopt it to find out what’s in it.” But this article, shared by NS, is a real plug, not only for what it reports, but also for the way it reports it.
THE TRUTH LIVES on https://sgtreport.tv/
What am I getting at?
Well, get ready. It seems that the US private central bank, the Federal Reserve, is “waking up”:
The awakening of the Fed’s regional banks endangers the independence of the central bank
The result here is that three regional Fed banks, those in Atlanta, Boston and Minneapolis are (surprise surprise) leading a movement to get the central bank to wake up and do the following:
Federal Reserve Banks in Atlanta, Boston and Minneapolis have recently devoted resources to social policy, reflecting the political tendency of officials who are neither elected nor confirmed by the Senate.
…
The three banks were recently the spearhead of a series in which the 12 regional banks participated, centered on the conviction that “racism is the basis of inequality in our society”.
The series “Racism and the Economy” highlighted a number of topics, including structural racism in housing, education and labor markets.
Atlanta Fed Chairman Raphael Bostic, who is the first Chairman of the Black Fed, told Axios on Monday that if he became Fed chairman, he would steer the central bank towards economic inclusiveness and equity.
Earlier this year, he said there was “certainly merits” to reparations and called changes to Georgia’s voting laws “disturbing”. This came after last year he published a letter titled “A Moral and Economic Imperative to End Racism”.
The Minneapolis Fed, meanwhile, renewed in its 2020 annual report its commitment to dismantle systemic racism. Additionally, a report released by the Boston Fed in December 2020 said the deaths of George Floyd, Breonna Taylor and others were the result of “this country’s racist roots.”
And then there’s this quote from the Atlanta branch in response to U.S. Senator Pat Toomey, (R-PA), who accuses the Fed of “getting political” and fundamentally overstepping its mandate:
“We have received the request from Senator Toomey’s office, and we look forward to discussing with him how a better understanding of racial inequalities is helping the Federal Reserve achieve its maximum employment mandate and ensure that economic gains are widely felt in the general population, regardless of race, ”an Atlanta Fed spokesperson told FOX Business.
The mind is racing.
It’s mind-boggling, first of all, because the idea that the Fed will ensure that economic gains are “widely felt across the whole population, regardless of race,” is laughable. It could reasonably be argued that the actions of the Fed have either created, caused or exacerbated several financial and economic crises since its inception. Central banks are designed, above all, to benefit the wealthy financial class and anyone who wants to work with them and play by their rules. We are “deplorable” and useless eaters. And it is telling that Senator Toomey seems to be playing the game backwards, by legitimizing the existence of the institution, only questioning its current policy. The problem, Senator Toomey, is that every central bank always goes beyond its mandate and manipulates politics, usually behind the scenes. And that view doesn’t even take into consideration my own speculations about hidden financial systems, hidden bond markets, and the Fed’s implicit role in them. She also does not even take into consideration this little episode told by the former President of the Reichsbank Hjalmar Schacht, who told the little episode of the NY Fed not being able to find the German gold during his visit in the 1920s.
I could go on and on, but I think you understand: Swampington DC is hopelessly corrupt, and in business for itself, not the people, and at the heart of that corruption is the Fed.
So what are they really doing?
I suspect that the first is to mask their own role in this economic disparity and the decline of the middle class by diverting it towards race, or more precisely, towards “systemic racism”. Their policies have emptied the American middle class, black, white or with purple polka dots. Better then create another storm in the teapot by diverting attention (and responsibility) from the race rather than from a rapacious and irresponsible financial class. The deviation towards “systemic racism” therefore means, in this context, only this: (1) the process of its eradication will never end, and therefore (2) their own power is perpetually assured, a new nomenclatura hiding in the inside and behind, the Narodnabank (People’s Bank), driving in their limousines and living in their (confiscated) dachas. In this context, it should be remembered that the American financial class has always been in love with socialisms of one kind or another. Let us only recall its role in the financing of the three great socialisms of the beginning of the 20th century: Lenin, Roosevelt and Hitler.
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