Fed Keeps Moving Left!
Now there is even more evidence of the Federal Reserve’s left-wing tilt. Like we need it!
In GOLD SKYROCKETS! (March ‘23} we wrote the following about Karl Marx’s Communist Manifesto:
For every Republican economist at the Fed there are 10 Democrat economists. The institution is so far left that it endangers the spinning of the Earth on its axis. Surprised? Of course not. The very idea of a central bank is a communist dream.
Karl Marx long ago included it as one of the 10 essentials of creating a communist regime: “Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.”
So of course, the Fed is thick with leftists.
We made the point again in January in a post called THE FED TILTS THE SCALES! TO THE LEFT, OF COURSE!
It’s not too complicated. The very existence of a central bank is a left-wing dream come true. It was on Karl Marx’s shot list. So, you shouldn’t be surprised to learn that there are 10 Democrat economists for every single Republican economist at the Fed.
Now a mainstream think tank has taken a look at the Federal Reserve and its directors and verified not only its leftward bias, but that it keepS moving ever further to the left each year. And predictably there has been an increase of diversity, equity, and inclusion (DEI) activism among directors.
The new investigation by the Manhattan Institute called Moving Left A Study of Ideological and Demographic Change Among Federal Reserve Bank Directors reports:
Directors have leaned increasingly left ideologically… [and] are also now less likely to have had the crucial banking experience needed for some of their oversight roles. These changes have inhibited the ability of the Federal Reserve Banks to provide strong and dissenting voices on monetary or regulatory policy….
The share of directors donating only to right-leaning candidates decreased from 2010 to 2023 and has dropped from 24% in 2015 to less than 8% in 2023. There has also been a decline in bipartisan donations and an increase in exclusively left-wing donors, who now make up 34% of all directors.
So what has the Fed done to the purchasing power of the US dollar since its inception? It’s not a pretty picture!
As the purchasing power of the dollar goes down, the nominal price of gold goes up.
Few things seem as self-evident from history as the certainty with which leftist governments – socialists, communists, collectivists of all stripes – destroy the value of their currencies and wealth at large.
As US monetary authorities continue to move ever left at breakneck speed, the case for owning gold and silver becomes ever more compelling.