Ever since Republican nominee Donald Trump accused the Federal Reserve of being a political institution, the establishment – both media and policymakers – have tried to dismiss this idea (SEE: Donald Trump is right – Federal Reserve is a political tool to help the White House). Even CNN attempted to claim that the United States central bank is an independent organization and does not institute policy based on political whims (SEE: CNN ridiculously claims Federal Reserve is NOT political).
As anyone who has studied the history of the Fed, these ideas are completely ridiculous.
Former Texas Republican Congressman and three-time presidential candidate Ron Paul wrote about this in his bestselling book “End the Fed.” In the book, Dr. Paul explains that the Fed being a political group is “an open secret in Washington.”
Here is what he writes:
“…the Fed’s involvement in the ‘political business cycle’ is a well-documented fact. The Fed tends to loosen before elections and is far more likely to tolerate downturns between presidential elections and Fed appointments. This is an open secret in Washington. We all pretend that the Fed is not a political operation, and yet everyone knows that it is among the most political institutions in the entire government.”
Once again, Ron Paul is dead on. And, which is quite the rarity, Donald Trump is right, too.
Its apolitical and serves its own globalist agenda.