The Federal Reserve Is Destroying America

Editor's Note: The following is a guest post by Chris Martenson with PeakProsperity.com.

Perhaps I should start with a disclaimer of sorts. Yes, I realize that the people working at the Federal Reserve, as well as the other central banks around the world, are just people.  Like the rest of us, they have egos, fears, worries, hopes, and dreams. I'm sure pretty much all of them go home each night believing they are basically good and caring individuals, doing important work.

But they're destroying America.  They might have good intentions, but they are working with bad models. Ones that lead to truly horrible outcomes.

One of the chief failings of central banks is that they are slaves to an impossible idea; the notion that humans are free to pursue perpetual exponential economic growth on a finite planet.  To be more specific: central banks are actually in the business of promoting perpetual exponential growth of debt. 

But since growth in credit drives growth in consumption, the two are concepts are so intimately linked as to be indistinguishable from each other.  They both rest upon an impossibility.  Central banks are in the business of sustaining the unsustainable which is, of course, an impossible job. 

I can only guess at the amount of emotional energy required to maintain the integrity of the edifice of self-delusion necessary to go home from a central banking job feeling OK about oneself and one’s role in the world.  It must be immense. 

I rather imagine it’s not unlike the key positions of leadership at Easter Island around the time the last trees were being felled and the last stone heads were being erected.  “This is what we do,” they probably said to each other and their followers.  “This is what we’ve always done.  Pay no attention to those few crackpot haters who warn that in pursuing our way of life we're instead destroying it.”

The most compassion I can drum up for central bankers right now is to observe that they really do have an impossible job; and their training has been simply too narrow and dogmatic for them to detect the gaping, obvious flaws in their world views.  They never studied energy resource issues. Nor did they have to take any behavioral psychology classes that would have explained to them how deeply unfair economic practices are socially corrosive. Nor any history classes that would expose how such actions proved ruinous when they were applied in previous societies.

But here we are. The fact that the central bankers are either accidentally ignorant or purposely too lazy to explore the wider world of ideas is not one you can ignore any longer.  Real consequences are coming and there’s no ducking them.  We’re all in this big canoe of life together and the Fed and our political officials are exhorting us to paddle faster towards the roaring falls ahead.

You need to understand this. If you want to have any chance of navigating the future successfully, you have to understand what they are doing, how they are doing it, and why it will fail.  If you don't take the time to sort out the mechanisms and implications...well, good luck.  You’re going to need it.

For those who prefer to rest their future prospects on Knowing instead of (misplaced) Hoping, read on.

How The Fed Gives Billions Of US Taxpayer Money To Foreign Banks

Out of many truly maddening sins committed by the Fed, perhaps the most glaring of late is its practice of handing billions and billions of dollars of US taxpayer money to big foreign banks.

I explain the process in this short video:

The summary of the video is this: the Fed is now paying interest on so-called ‘excess reserves’ held at the Fed. Those 'excess reserves' include a huge chunk of money held there by foreign banks who are only too happy to receive 1% on their holdings from the Fed given that their own central banks are paying 0%, or even negative rates.

The money that the Fed pays these foreign banks is deducted from the amount remitted to the US Treasury at the end of each fiscal year. 

It’s this simple: foreign banks are being paid billions of US taxpayer dollars and not one single person in the US got to vote for or approve of that action.

Let me repeat that: billions and billions of US taxpayer money is being sent to boost the profits of foreign banks. And there’s not a single thing a voting citizen can do about it. 

The decision to do this has been made unilaterally by unelected people for reasons they are under no obligation to either share or even have audited by the public.  I wonder if Detroit wouldn’t mind getting several billion dollars to use however it wishes, courtesy of the Federal Reserve?  Or the permaculture movement?  Or jobs training programs?

I’m 100% certain any of these -- or a thousand other candidates -- would be a better use than handing foreign big banks more US taxpayer money. 

What The Heck Else Is The Fed Up To?

I'm going to guess that very few of you were aware of the Fed's multi-billion annual giveaway to foreign banks before you watch the video above. If you're like me, once you learned what's going on, it's hard not to start wondering: What the heck else is the Fed doing that I don't know about?

We here at PeakProsperity.com are particularly concerned about closely monitoring our central bank's next actions, as we believe their policies are creating the greatest wealth transfer of all time -- from the hard-earned savings of the public, and into the pockets of an elite few. (More on our conclusions can be read here).

As I said above, if you want to have any chance of navigating the future successfully, you have to understand what they are doing and how they are doing it.

Which is why PeakProsperity.com is producing the upcoming webinar, The End of Money, which will bring together David Stockman, Axel Merk, G. Edward Griffin -- experts on the Federal Reserve, global currencies and financial markets. During this 3-hour event, you'll hear their latest intelligence and forecasts and be able to ask each speaker questions directly. It all takes place on June 7th, and those interested can learn more about the webinar here.

But, even before the webinar's revelations, there's plenty of worrisome recent activity by the Fed you need to be aware of, right now.

In Part 2: Understanding The Fed's Endgame Is Key To Protecting Your Wealth, we reveal the additional clandestine steps the Fed is performing in the shadows to separate the American people from their hard-earned wealth, and place it in the pockets of the bankers and their cronies. In most instances, it's a case of doing exactly the opposite of what it is publicly promising.

As with the above video, very, very few people are aware of what the Fed is truly up to. But it's critical we learn, as the knowledge we gain explains a lot about both the failure of today's bubblicious asset prices to sell off, and about just how worried the Fed actually is about draining cash from the financial markets lest it create a cascading meltdown. It's only by developing an understanding of the endgame currently in play that the concerned investor can make informed choices for protecting their wealth.

Click here to read the report (free executive summary, enrollment required for full access)

Ezra Levant, founder of Rebel News, joined Glenn Beck on the radio program to describe the shocking footage he and his team captured of Canadian police harassing and even arresting Rebel News reporters during a protest in Montreal.

Video clips show officers making remarks about the "Jew" reporters and calling Rebel News "Jew media." Reporters are pulled out of crowds, handcuffed, slammed against vehicles and arrested. Some have been fined "thousands and thousands" of dollars "because they had cameras pointed at the police," said Levant.

Another video clip shows Canadian police demanding entrance to a rented Airbnb houseboat without a warrant.

"They the claimed it was an illegal gathering. It was just a B and B," Levant explained. "I told them to get a warrant. I went out there ... and they wouldn't let me back in.... It turned into a ten-hour standoff. They couldn't find a judge willing to give them a search warrant, so to punish us, they called the whole thing a crime scene. They actually wouldn't let any of my team off the boat unless they submitted to a personal search, which is illegal. And the craziest part, is that they arrested one of my guys, took him to jail, and they said this to us: We will hold him in jail until you let us search the Airbnb without a warrant."

Levant said nearly all Canadian media have ignored the insane attacks, warrantless searches and seizures, and the jailing of journalists, and warned Americans to take note and protect our First Amendment rights.

"If you do not protect your First Amendment, if you do not hold those hard-won freedoms, you will be like what we are," he said. "This is your future if you don't protect your First Amendment."

Watch the video below for more details:

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

On Monday's episode of "The Glenn Beck Radio Program," Glenn opened up about the tragic death of his brother-in-law, Vincent Colonna Jr., who passed away unexpectedly on April 5. He also shared some of the important thoughts and insights he's learned through the grieving process.

"Last Monday, I was sitting in this chair ... the two-minute warning comes and Stu said to me, 'You ready for the show?'' ... And that's when my wife [Tania] came to the door of the studio here at our house and said, 'I...' and she held the phone up. And then she collapsed on the floor in tears," Glenn began. "Tania's brother had passed. To say this was a shock, is an understatement."

Glenn described his brother-in-law as having "a servant's spirit."

"He was always the guy who lit up the room. He was always the guy helping others. He would never stop, because he was always helping others," Glenn said of Vincent. "He was on the school board. He was a little league coach. He was the soccer coach. He helped build the church. He took care of the lawn of the church. He was constantly doing things, raising money for charity, working over here, helping to organize this. But he was never the guy in the spotlight. He was just the guy doing it, and you had no idea how much he had done because he never talked about it.

"We also didn't know how much mental anguish he was in because he never talked about it. And last Monday morning, after spending Easter with the family ... he killed himself. This is now the third family member of mine that has gone through this. And I keep seeing it play out over and over and over again, in exactly the same way."

Glenn described his thoughts as he, Tania, and her family struggled to come to grips with the devastating loss.

"I learned some really important things as I was watching this wake. I'm seeing these people from all walks of life ... the people that were there, were there because [Vince] made a difference in their life. He was a true servant. As I'm watching this, all that kept going through my mind was, 'by their fruits, ye shall know them.' The fruits of his labor were on display. He was a servant all the time. All the time ... he found a way to love everybody.

"There are two great commandments: Love God with all your heart and mind and soul. And love your neighbor. So those two great commandments boil down to: Love truth. Because that's what God is," Glenn said.

"Love thy neighbor. That's where joy comes from. The opposite of joy is despair, and that is the complete absence of hope ... and how do you find joy? You find joy by rooting yourself in the truth. Even if that's a truth you don't want to accept. Accept the truth," he added. "But we have to stop saying that there's nothing we can do. What are we going to do? Well, here's the first thing: stop living a lie."

Watch the video clip below to hear more from Glenn:


Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

After imprisoning a pastor for refusing to follow COVID-19 restrictions, Canadian officials barricaded his church. And when some church members retaliated by tearing down part of the fence, Canadian Mounties arrived in riot gear.

Rebel News Founder Ezra Levant joined Glenn Beck on the radio program to give his insight on the crazy situation. He described the new, armed police presence surrounding GraceLife Church in Edmonton, Alberta, and how it not only encouraged hundreds of protesters to stand with the church in support but forced congregation members underground to worship as well.

What's happening is eerily similar to what occurs everyday in China, Levant says, and it must stop. Who would have thought this type of tyranny would be so close to home?

Watch the video below to hear Ezra describe the religious persecution taking place in Canada.


Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

Enough prayers? Why is supposed Catholic Joe Biden suggesting that Congress ought to stop praying for after someone commits acts of gun violence?

On Friday, Stu Burguiere and Pat Gray filled in for Glenn and discussed President Joe Biden's remarks during his speech on gun control. "Enough prayers. Time for some action," Biden said. Stu and Pat were surprised how dismissive Biden appeared to be on the idea of prayer.

Watch the clip to hear more. Can't watch? Download the podcast here.

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.