The first thing you have to remember is anything and everything the Federal Reserve says or does is for the specific purpose of benefiting and protecting the Federal Reserve and it’s member banks, period. The Federal Reserve was designed as a way to transfer the wealth of the many to the few by way of theft using the Department of U.S. Treasury. Please see Mike Maloney’s most excellent and very easy to understand explanation of how this works – There is a total of 7 episodes. Episode 6 explains how the Federal Reserve works and how we are nothing more than an ATM for the upper 0.01%
One would think, based on Stanley Fischer’s comments below, the Federal Reserve was an innocent bystander in the ongoing economic and financial nightmare that we, the citizens of the U.S. and around the world, are forced to deal with every single day. It was the actions of the Federal Reserve and the member banks – the banks that own the Federal Reserve – that caused the whole situation we are dealing with. Mr. Fischer, we know what you did, we know how the Federal Reserve has swindled trillions of dollars of wealth from the American people and we will never forget that you played the biggest part.
When the day of reckoning comes you will be reminded, hopefully face-to-face, by one of the patriotic Americans that has dealt with your ongoing lies, deceit and theft beginning in 1913. We are not as stupid as you think. We remember that it was the printed money handed over to the banks, around the world, that spawned the, now, runaway inflation that steals a little more of our wealth every time we make a purchase or need a service.
Hey, Stanley Fischer, wasn’t it Richard Fischer out of the Dallas Federal Reserve that spoke of a “front loaded wealth effect” created by the Federal Reserve? Yes, as a matter of fact it was the other Fischer Fed head. Now you want to come out and say that if there are actual regulations it will be harmful to the economy? Are you kidding me? It is the lack of regulations, you know Glass-Stegall, that allowed your criminal enterprise to damn near collapse the entire global economy. You make me sick, you PoS.
Fischer issued strong caution against changes to the Dodd-Frank banking reforms implemented after the financial crisis.
The Fed vice chair also said he still believes the central bank is on track for three rate hikes this year.
“We seem to have forgotten that we had a financial crisis which was caused by behavior in the banking and other parts of the financial system and it did enormous damage to this economy,” Fischer told CNBC in a live interview. “Millions of people lost their jobs, millions of people lost their houses.”
“The strength of the financial system is absolutely essential to the ability of the economy to continue to grow at a reasonable rate, and taking actions which remove the changes that were made to strengthen the structure of the financial system is very dangerous,” he added.
In other words, if the government begins regulating the banking crime syndicates it will severely cut into the Federal Reserves means of wealth transfer. Stanley Fischer sees that as being very dangerous to his personal wealth.