Former Vice President Joe Biden has refused to take responsibility for the rapidly rising cost of living in the United States. On the morning of May 11, 2022, Biden commented on the state of inflation, saying that it is unacceptably high and that reducing it is his top priority. He went on to deflect all blame and responsibility with the following statement.
“[Reducing inflation] starts with the Federal Reserve, which plays a lead role in fighting inflation. […] While I will never interfere with the Fed’s independence, I believe we have built a strong economy and a strong labor market, and I agree with what Chairman Powell said last week that the number one threat to that strength is inflation. I am confident the Fed will do its job with that in mind.”
To those who understand what the Federal Reserve is, it is disheartening to hear a man with the responsibilities of the president showing deference towards it. The “Fed” is an organization owned by foreign banking interests conceived in secret meetings on Jekyll Island in November of 1910. Its primary function is to decide how much interest lenders can charge on loans. It does little else, except claim to stockpile gold which it may or may not possess. In this way, the Fed controls the value of the money you have in the bank.
The Fed arbitrarily tells money lenders how much they can charge, and their ability to do so is based on a false perception of federal authority. So for any president to accept the Fed’s decisions as he would accept the decisions of the Supreme Court is absurd.
He is right to say that inflation starts with the Fed. But he clearly has no intention of stripping them of their veil of false authority in order to make real progress toward what he calls his primary goal. He calls the Fed “independent.” How on earth can a branch of the government be “independent?” Of course, we know the Fed is not a branch of the government, and that is why it actually is independent. But to believe it is both is a clear lie, coming from a veteran politician.
In short, what Biden has done is deflect responsibility while maintaining a problem that he has no power to correct. This is a formula for a sustained economic attack on the earnings of working people. It is theft. No. It is armed robbery.
Having established his unsolvable problem, Biden went on to say:
“[…] my inflation plan is focused on lowering the costs that families face and lowering the federal deficit. […], my Administration has announced new steps in partnership with the private sector to lower the price of high-speed internet for tens of millions of Americans. And, the Congressional Budget Office reported that the federal budget deficit in the first seven months of this fiscal year fell by $1.5 trillion, putting us on track for the [biggest] deficit reduction […] on record. The CBO also confirmed that the budget deficit so far this year is lower than it was during the same period in 2019, before the pandemic began. Today, I am traveling to Illinois to speak with farmers about more we can do to lower their costs and help them produce more, lowering the price of food for Americans and around the world. All of this is progress, but the fight against global supply chain issues related to the pandemic and Putin’s price hike will continue every day.”
His first idea, lowering the cost of Internet connectivity, places more power over communications in federal hands. His comments on the lowering of the deficit are meaningless filler in an economy where the value of money is determined by foreign banking interests. His plan to talk to Illinoian farmers is an empty gesture. Suggesting that something on their end to lower food costs should be done is violently insulting.
Both the internet and food cost concerns he mentions will be directed at lowering the value of the food and the information Americans have access to. The problem of the Fed will remain to ensure American’s efforts are at least partially in vain while the average person continues working toward their weak-end.
While all of this is happening, The Wall Street Journal is asking Washington to be more willing to preemptively initiate nuclear war against Russia.
In conclusion, you cannot count on a political solution to this war on common prosperity. You must hedge your wealth, seek independence from the system, and create an organic and wholesome, family-oriented culture. You must be willing to fight and suffer for what is just and good.