STAFF NEWS & ANALYSIS
Warning: Trump’s Federal Reserve Pick Hates Gold and Cash
By The Daily Bell Staff - December 07, 2017

 

In case of emergency, you should always have a solid chunk of cash on hand. These days, that isn’t much riskier than keeping your money in a bank.

There are stories of banks and governments suspending accounts for no legitimate reason. Furthermore, the interest rates at banks hardly give you much incentive to store your money there.

But as with anything that gives individuals more control over their lives, the government doesn’t like it. They want the ultimate control to cut you off from your economic power.

It’s bad enough that inflation robs you of the value of your money.

But Trump’s newest pick for the Federal Reserve board of governors wants to go even further. Marvin Goodfriend thinks there should be a robust negative interest rate placed on cash.

For example, if there was a -10% interest rate on cash, your $10 bill would actually be worth only $9. It is basically a penalty for using cash.

The excuse is that this will stabilize the economy by keeping more capital in the banks. It means banks, and by extension, the Federal Reserve, have more control over your money.

The Federal Reserve controls interest rates. Goodfriend claims that sticking to positive interest rates is an unnecessary limitation on their power to affect “interest rate policy to stabilize employment and inflation over the business cycle.”

So he wants to remove this encumbrance of positive interest rates in order “to free the price level from the destabilizing influence of a relative price over which monetary policy has little control.”

He is saying that the Federal Reserve has no control over the actual real-world economics of supply and demand. Prices naturally fluctuate with the market. They are indeed relative, based on how much is being produced and consumed. This doesn’t sit well with economic dictators.

Goodfriend says banks should be able to charge people money to store their money. But then why would anyone keep their money in a bank? They wouldn’t unless the cash negative interest rate was even higher.

He likens this to removing the gold standard. The gold standard, Goodfriend argues, was also an encumbrance on monetary policy, “destabilizing” prices.

Yes, the Federal Reserve could not screw people as easily when there was a gold standard. The value of money was actually based on something other than the whims of a few Federal Reserve governors.

Federal Reserve notes are only worth something because the government says they are. Wide acceptance of dollars as a store of value is the only thing that keeps the dollar afloat.

But if you are the type that prefers to store your savings in something tangible, with real value, check out our list of the 5 best off-grid currencies (that don’t require electricity).

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Posted in STAFF NEWS & ANALYSIS
  • Earn nest

    It’s a good thing. The longer and lower the price is held the better until the inevitable day arrives. Crypto’s are good for this reason also.

    • Paul_Morphy

      Block chain will lead the way towards decentralization – of everything, hopefully. It used to be if you cut off the head, the body will die.

      • Earn nest

        I hope so. I’m sure governments and the BIS bunch will try to co opt with laws and their own products.

  • FSW

    More proof that Trump isn’t draining the swamp, he’s nurturing it.

    • olde reb

      Have you noticed the relentless impeachment rants have stopped since Trump started mouthing the Wall Street line ?

      • FSW

        And now Jerusalem. It’s all going according to the Globalist cartel agenda for North America, Canadians are stuck with neo-liberal Justin Trudeau.

        • olde reb

          should we say that Trump learned who the boss is ? Orders came in from Wall Street. The nail with the head up is the one that gets hammered.
          Go along to get along.

          • FSW

            Orders came in from Wall Street??? Wall street doesn’t give orders, it takes orders. Just like the FED, WH and the rest of the pathetic US establishments.

          • olde reb

            You have been seduced by the government/Wall Street propaganda. You should get better sources. The foreign policy of the United States is established by Wall Street for the economic benefit of WS.
            Ref. http://farmwars.info/?p=12078
            NEW WORLD ORDER DEAD AHEAD

            John Stinnett used the FOIA to obtain government documents that established FDR developed a 17 month agenda with his Wall Street cronies to impose sanctions on Japan and force the attack on Pearl Harbor. The Japanese codes had been easily broken. WW One was also another false flag operation (incorporating the sinking of HMS Lusitania with 3000 tons of military explosives) to prevent default on huge loans WS had made to European nations.

            You might also consult with John Perkin’s ONFESSIONS OF AN ECONOMIC HIT MAN that details his (concealed) employment by Wall Street to set up international loans with sovereign nations designed to go into default using their control of the IMF and WB with enforcement by the CIA and the US military. cf. Michel Chossudovsky’s GLOBALIZATION OF POVERTY and his GLOBALIZATION OF WAR.

            For details on how one of the first arrangements with the CIA and Wall Street was arranged by Allen Dulles, even before he was appointed Director of the CIA, you might read DEVILS CHESSBOARD by Stephen Kinzer, THE BROTHERS by David Talbot, or CIA AS ORGANIZED CRIME by Douglass Valentine. Writings by Fletcher
            Prouty, Antony Sutton, Nomi Prins, Gary Allen and many more are available. Let me know when you have finished these.
            Wall Street IS the hidden government–the shadow government–by whatever name.

          • FSW

            then we agree the CIA who is a Organized Crime syndicate works for the IMF and the BIS private banking system in order too advance the Western Globalist agenda which brings us back to my original comment.

            Wall street doesn’t give orders, it takes orders.

            As for my source, well the source you mentioned are kinda a been there done that a long time ago scenario for me I’ve moved on since then. Enjoy the Economic rabbit whole Olde Red

          • olde reb

            Does Wall Street control the BIS or does the BIS control Wall Street ??

            The historical origin of the Federal Reserve was created by Wall Street bankers with guidance by Max Warburg of the European Rothschild banking clan. Rothschild control of
            the BIS is assumed. That some Wall Street banks may have a portion of equity ownership controlled by the BIS is
            also assumed. Some reports identify JP Morgan as a shill for Rothschild.

            When Goldman Sachs wanted maximum flesh from Greece during debt collection on their loan to Greece, Dominique
            Strauss-Kahn from France and head of the IMF wanted leniency. A trip to NYC to plead his case resulted in what some claim was a trumped up sex charge that resulted in arrest and removal from the airplane before departure. He was released from jail after he resigned from the IMF and charges were eventually dismissed. Whether Goldman was
            involved in a frame-up is a matter of speculation but Greece has relinquished sovereignty to the Troika.

            Select but unidentified Primary Dealers, which include major Wall Street banks, are accused by this writer of
            embezzling $5 billion daily from the government of the United States. Ref.
            https://www.scribd.com/document/355085824/Embezzlement-by-Federal-Reserve document 355085824

            The theory of how the FRBNY embezzles money with their exclusive handling of funds from the auctions of Treasury securities is not known to be widely published. That amount of funds could place Wall Street as a major player in the BIS. At one time, the BIS announced they were going to
            audit the Federal Reserve—as I recall it. That audit never
            transpired.

            US/Wall Street has a minimum 15% voting right over the IMF and WB which is enough for control. They have an exclusive right of individual national veto.

            Wall Street definitely does not take orders from the
            CIA; David Talbot and Stephen Kinzer but that concept to rest.

            Whether the FR/WS controls the BIS or the BIS
            controls FR/WS appears to be indeterminate.

          • FSW

            Bla, bla, bla, American ego, bla, bla, bla, more of that American ego then again with the bla, bla, bla.

            Repeat a lie often enough and the ignorant Americans will believe it.

          • olde reb

            I suppose that makes sense in some foreign language.

          • FSW

            You have a very CoIntelPro perception of the BIS and it’s affiliates, typical among American slave. Personally I don’t give a hoot about what perverted version of reality you’ve been sold by the groupthink social media or the discombobulated one you pieced together in a very lineal fashion. I’m perfectly fine with the state of my perception and where it leads me and I’m grateful it hasn’t lead me down a similar path you are unwisely traveling.

            “It is nice that you have clearly identified your nationality.”
            Lol, nice touch, sorry to disappoint you but I’m not an American and thank God for that.

            Enjoy the funny farm olde red

          • Earthmama36

            check out this video to see who calls the shots, don’t dispair the sponsor, just watch the video https://www.youtube.com/watch?v=rMzASKwtIBw

          • olde reb

            Earthmama….Your link to Doug Hagmann and Kevin Shipp [Intelligence Hour] should be appreciated by all DP readers. Kevin is reluctant to identify the nefarious acts of his past employer, the CIA, for fear of retaliation. He points incrimination fingers at all of the traditional conspiracy entities, laments the CIA’s involvement in drug running, but fails to see the CIA as the operating arm of Wall Street or the source of perpetual war. Ref.
            http://www.scribd.com/doc/49566880/CIA-ROGUE-AGENCY-RUN-AMUCK

            The role of the CIA in advancing Wall Street’s march to David Rockefeller’s utopian government is presented at
            http://farmwars.info/?p=12078 NEW WORLD ORDER DEAD AHEAD How David, Wall Street and ultimately BIS
            embezzle funds from the U.S. government using the Federal Reserve has been linked in other comments of this thread.

  • Tony Nobaloney

    All Fedsters are Shills for the money interests but this guy is a psycho Shill for the money interests.

  • Wm W. Fawell

    THE FEDERAL RESERVE BANK HAS TO GO… We start by passing HR 24, S 26, an audit of the FED since 2010. That will end them for good.

    • olde reb

      Congress does not need any additional legislation to tell the GAO to audit the accounts the FRBNY has for EXCLLUSIVE control of funds from auctions of Treasury securities. The accounts have never been audited. They embezzle billions daily for Wall Street.

      ref. https://www.scribd.com/document/355085824/Embezzlement-by-Federal-Reserve document/355085824

      Congress is the most prosperous group of individuals in the US. A typical vote sells for $50,000. How much would a vote not to audit the Fed go for ??

  • Zaphod Braden

    They are openly stating they intend to ENSLAVE you ….
    Worse even than Black slaves in the South who could actually SAVE THEIR money and buy freedom ….. So these people are WORSE then Southern slavers. ….
    and the YANKEE slave ship captains & the Jewish slave ship Financiers ……..
    —————————-
    People will barter , use gold and silver, and create local script money.
    Russian philosopher Fyodor Dostoevsky in the 1800s said, “Money is coined liberty.”
    “Cash” is your PRIVATE PROPERTY. It is the physical representation of your time at work or your intellectual output.
    “The desire of gold is not for gold. It is for the means of freedom.” — Ralph Waldo Emerson
    If your money’s in the bank, it’s not yours, it’s the bank’s. REALLY. Check the LAW.
    To ban cash is to steal your PRIVATE PROPERTY. People will resort to barter, gold & silver and creating local scripts.
    Plus it is truly “THE Mark of the BEAST” since every tiny transaction will be recorded and a FEE skimmed off by the BANKERS, which is why the BANKERS push it.

    • Nobody

      Yes it is worse than slavery. I have been have this same conversation with family as of late. A new word needs to be invented to properly described what this sub-slavery is because under the worse slavery you are simply owned and must perform involuntary labor for no compensation.

      Under our current sub-slavery condition you must pay to perform involuntary servitude or be imprisoned for not ‘volunteering’. The people need to seek criminal indictments via our grand juries (with special non-bar member judges and prosecutors appointed by the grand juries for hearing the cases) and convictions and sentencing of permanent imprisonment or death penalty of all ‘law’ enforcers, prosecutors and judges who willing initiate violence and falsely imprison people for not being sub-slaves. We also need to consider arresting grand jury members for misprision if they do not indict them and appoint special judges and prosecutors. We also need to be willing to take up arms against those who would try to levy war against us for simply trying to uphold the law. It is literally that bad. We need to do it now because soon technology will remove our ability to free ourselves.

      • Zaphod Braden

        Quit drinking the Kool Aid You,,your children, are being programmed to be docile SERVANTS.
        —– Do not “question authority” ….. be AFRAID to “offend” anybody at all……grovel & bow. You are ordered to not be judgemental …. but They are judgemental as all get out about you and everything you do or think.
        Paying it forward,Giving back, spend your vacation “helping others” spend 9/11 GIVING …….
        All pushed by RICH people & politicians who sacrifice NOTHING. The Rich write off their time, the politicians are getting you to fix THEIR problems and take pressure off them.
        parting thought …. how have Americans been seduced into training their own children to be SERVANTS. “pay it forward/back” work for others on your vacation, give this, donate that, yield YOUR culture and beliefs to any failed trash that comes along becuse for some unexplained reason You are “inferior” ………….. It only stands to reason that where there’s sacrifice, there’s someone collecting the sacrificial offerings. Where there’s service, there is someone being served. The man who speaks to you of sacrifice is speaking of slaves and masters, and intends to be the master. Ayn Rand

      • Earthmama36

        If you want to file lawsuits against anyone it is necessry to use Admiralty Law. Check out Winston Shrout on youtube, there are many videos and interviews. Also he has a website WSSIC.com, he has a wealth of information in regards to Admiralty Law and that it is the system of law that is used excusively in the US.
        He goes into great detail about Admiralty Law and the origin of the legal system in the US in this video https://www.youtube.com/watch?v=TUtYqe7N1mM
        This is fascinating information, all should watch and realize what is going down in this country.

  • Zaphod Braden

    MONEY is YOUR stored labor and production …. anyone tries to take it they are taking YOUR LIFE.

    • Miggy

      They got around that years ago. It’s called inflation.

  • Nothingtoseehere

    I would like to stress something here because I do not have another outlet at the moment. Disqus is severely censoring comments. I have been testing across various liberty sites and it is very clear that disqus is keeping useless noise and divisive comments and memory holing real intelligent info. There are major events being formulated now that prove leading actors of the liberty movement are intentionally undermining the cause. Chess moves are being made for major transforming events to take place over the next 1-3 years but this information cannot get through on disqus comments and the sites (owners) that have published the intel are being attacked with bank accounts being drained, them and their friends being thrown in jail, killed or otherwise disappearing. I have no other choice but to assume that all sites using disqus as comments are enemy operatives intentionally feeding useless information that will do nothing to advance liberty. Pretty much all of the comments and site content are less than useless information at this point because there is real intel out there that matters and none of the liberty sites are discussing and none that use disqus are allowing the intel to get through and the sites that had the intel are gone and publishers are gone. Big things are in the works by the bad guys and certain ‘liberty’ leaders are intentionally pre-conditioning for a preplanned response by their audiencd but when the details are revealed on disqus they never get published. The internet is being weaponized right now.

    You all have been warned. I will be surprised if anyone sees this.

    • GH

      I’m seeing this…which doesn’t mean I don’t believe your comment. In fact, in these times of escalating surveillance by the FEDS (and others) I would be surprised to know there are sites which somehow escape prying eyes. I never sign up for disqus…on the rare occasion I make comments here, I sign in as a guest. I doubt it keeps me any safer.

      • Nothingtoseehere

        You are seeing this post but anytime details about the who, what,when,where,why,how (5wh) of the detailed plans of them or actual winning tactics that we can do now, that the system can’t do anything to stop, are written in comments, the comments never show up. When the details are published by other sites the site owners are either specifically targeted and imprisoned or they dissapear and that list has grown substantially over the last ten years and is accelerating. Actual people involved with certain crimes by the bad guys who perpetrated 9/11 or with the perpetraitors drug/weapon running and money laundering who have gone to publish info that will bring down the bad guys who overthrew the gov, have been murdered/suicided.

        The true sovereigns (not talking about the paid sovereign citizen disinfo agents) are correct in their analysis that the proper application of statutory law has no application to the people. The ones who have published and/or established perfectly lawful ‘pirate’ radio broadcasts revealing details of how this is so and how banks are using all ‘persons’ future labor in the US as collateral on debt (conversion – a crime) and to print currency that the criminal banksters criminally profit from is true and these people who are correct have been disappeared, falsely imprisoned without trial or via rigged ‘courts’, bank accounts drained, associates imprisoned under similar circumstances and judges, prosecutors won’t debate them publicly, won’t issue sound rulings disclosing the facts, alter or disappear court records and filings that contain those facts or in some cases have even openly said in rulings that you must take up arms against them, all while the judges won’t even claim they are operating under the Constitution in court. The sovereigns are correct and that is why they are being attacked and why prosecutors are offering deals for hardened criminals to make “sovereign citizen” claims so that all facts about how law actually functions properly can be written off as “sovereign citizen” that is trained into ‘law’ enforcement as a trigger mechanism to attack those who attempt to uphold the law. The ‘courts’ are also transferring control over ‘court’ records to private database companies owned by the cabal that overthrew the gov for the specific intent that e-records that cops pull up when they run your id will make you out to be fugitive who had already been convicted so that you are imprisoned without trial. This is the reason for the rise of mandatory id (papers) to move around – it is literally full blown nazi police state with mindless trained zombie cops who do whatever the computer screen tells them to do where those who control the data the cops see controls your freedom – this is already happening. We are not required to have id, driver’s licenses or any other form of contractual capacity with the government and the very notion of having id is exactly how they are enslaving us. The sovereigns are the one’s who are factually correct, they are the intrinsic liberty leaders, are the only one’s who truly have the solution and that is exactly why they are being targeted and attacked by ‘law’ enforcement as “domestic terrorists”. The fact that the true sovereigns have the facts and solution and are being targeted shows that the system is scared to death of them because those in the system rightfully lose all their false ‘authority’ because individual sovereignty is equality in law and the fact that mainstream ‘liberty’ leaders are keeping them out of the discussion and the mainstream liberty sites are not being attacked proves that they are either ineffective or disinfo agents. The details the sovereigns have is the prime discussion that liberty sites should be discussing aling with crowdsourcing actual tactics that will bring every criminal who overthrew the gov, and those who assist them, to justice for undermining our soveteignty.

        The government has already been overthrown, the proof is everywhere with the heart of the issue that our loss of liberty is our loss of individual sovereignty and the loss of the common law that upheld our sovereignty and that the only reason for loss of individual sovereignty can come from those who commit crimes to remove that sovereignty. Every discussion by the liberty movement should be about sovereignty, the winning tactics to restore that sovereignty right now, every day, all the time along with the specific threats to this sovereignty and the actual criminal perpetraitors who intentional wish to subvert our sovereignty via subjugation and enslavement and how they will be brought to justice as remedy to the injury the perpetrate against us.

        Their is no compromise on sovereignty, it is either sovereignty or slavery and anyone who gets in the way of that is levying war against us.

    • olde reb

      I have been on Disqus for months exposing the embezzling conducted by FRBNY and have not been censored. Granted, it appears the inescapable conclusion tends to escape everybody.

      Ref. https://www.scribd.com/document/355085824/Embezzlement-by-Federal-Reserve document/355085824

      Are your censored posts perhaps obscene or vulgar ? What sites am I apparently missing ?

    • Miggy

      You should never trust any site 100%. I see patterns and can pick up many time when a so-called liberty site is nothing more than controlled opposition.

    • olde reb

      My reply was refused since the thread is inactive.

      • olde reb

        I want to assure you that I agree
        that ‘the grasp of government control is over-extended’ is an
        understatement, but your claim “that the proper application
        of statutory law has no application to the people.” is an
        unacceptable call for anarchy.

        Documentation that
        ‘liberty sites’ have been censored, thrown in jail, or whatever
        appears to be totally lacking in your lengthy essay. It would be
        improved if you could add such teeth to it. Dissenting articles on
        9/11 are all over the internet.

        A very specific
        claim that the Federal Reserve BNY/unidentified Primary Dealer owners
        are embezzling money from the US government with an outline of the
        mathematical flow of the funds has been made. Ref.
        https://www.scribd.com/document/355085824/Embezzlement-by-Federal-Reserve

        An
        offer for you to fault the analysis is extended.

        That the embezzled
        money is being used to empower Wall Street’s touted utopian New
        World Order is also offered. Ref. http://farmwars.info/?p=12078

        NEW WORLD ORDER DEAD AHEAD

        • Nothingtoseehere

          I made a long post gave names and details and it was censored.

          Daily bell can only be considered an enemy operative at this point if for no other reason tham using disqus.

          • olde reb

            I regret that Daily Bell has declined to publish my writings, but that is their editorial position and they have allowed links in the comments. Disqus has never been known to refuse inclusion of such links in a multitude of websites that have been visited.

            The specifics (names and details) in your LENGTHY rants which you assert are there have not been found. WHAT WAS CENSORED ?

            If the use of Disqus is the only ground for your displeasure with DB, your position is found unwarrented. I applaud DB.

          • Nothingtoseehere

            That’s the problem with disqus, there is no way of knowing if it was dailybell or disqus. Maybe db never saw it or maybe db is bad and are blocking real info to keep everyone on a hamster wheel of useless info. Since the only knowable fact is that I indeed did write the info and it was never posted and db has been told and could stop using disqus to know definitively that db chose to not publish the only conclusion is that db is bad.

            It is also the nature of such censoring that only I know that I did indeed write the info but you don’t know if I am being honest; db would not know either if it was disqus that censored before db ever saw it.

            From my tests across all ‘liberty’ sites it appears to be disqus blocking the info because it is the same info being blocked across all sites using disqus. I still blame the ‘liberty’ sites for two reasons, 1) real important intel that is out there is not being published in their stories, 2)they are using disqus when there is now evidence that disqus may be filtering out important info.

            I did give names and sites regardless of whether you believe me.

          • Nothingtoseehere

            Also, I can’t get it through what was censored because it keeps being censored over and over.

            See what I am saying here? I can reply to tell you but you will never see it…..

          • olde reb

            In an attempt to identify any issue which you endlessly allege to be censored by a number of websites and
            Disqus, which, if your claim is legitimate, would be objectionable to the host, would the subject perhaps be akin or related to what is generalized as semitic ?

            If this comment is censored, it will confirm my suspicion.

            I am still trying to identify ‘liberty’ websites you claim censored your writings.

          • Nothingtoseehere

            It is not semitic. It is strictly related to people trying to uphold the law or exposing criminal acts and being eliminated one way or another specifically by ‘government’ tyrants. See my post above. Need answer. Trying to find the truth about whether moderated by db or censored by disqus. This is an important issue that needs to be resolved if possible.

          • Nothingtoseehere

            Also worth noting, I do not see the human race in colors or ethnic backgrounds I only see innocent and criminal. Everyone is equally sovereign until one commits a crime – intentionally injures another for their own gain, OR during the time someone is on duty – on the clock of a bound work capacity.

            There is no other reason to not consider everyone equal.

          • Nothingtoseehere

            All of the liberty sites do, if the comments contains detailed intel about who is being attacked and/or actual winning tactics to find and stop the psychopaths attacking them or spund winning tactics to generally bring the tyrants to justice. These items NEVER get posted.

            I still want an answer as to how you obtained that quote in your first reply. How did you get that when it is not posted?

        • Nothingtoseehere

          Something else I noticed here is that you provided a quote, “that the proper application
          of statutory law has no application to the people.” that is not in the posts here. How did you get this quote when it never got posted? Did it go through to your email? If so, then that means you either got the names ans sites from my post or it never when through disqus. How did you obtain that quote when it is not posted here?

          I am trying to resolve the source of whether it is disqus censoring or db moderating.

          Also, to rebut that your claim ” is an unacceptable call for anarchyis anarchy”. Read the law. There is no statute or Constitution anywhere in the US that claims to apply to man/woman/men/women or people. If you can provide a source that proves otherwise then provide it or accept it as fact.

        • Nothingtoseehere

          Why did you change this post above? You removed the quote I ask about below. Are you one of the bad guys I am trying to find? Are you with db?

          Clearly you intend to hide the answer otherwise you would not have removed the first part of your comment.

          More reason to think db is the bad guys, misleading their audience.

    • I saw it.

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