Can We Really Trust the Federal Reserve?

Think the Great Pyramid is mysterious? Compared to the Federal Reserve, a mysterious and reclusive institution that has mastered the art of hiding in plain sight, the Great Pyramid is an open book. Some investors—especially those who have benefited by “following the Fed”—consider the organization as a panacea, a wonder-drug for all our economic ails. Others, such as Donald Trump, are not quite as convinced.

Did you ever wonder what the real source of the Fed’s hold over us is?

Imagine this. You are shopping for a microwave and finally find the model you want. However, instead of just taking it to the cashier, a salesman sits down with you, discusses the options, the colors, the warranty plans, and then asks you to sign an “offer” which he will then take to his manager for approval. If the deal is okayed, you’re in. You get the microwave. Otherwise, you might have to tweak the offer…?

Sound crazy? Laughable? Well of course nobody buys a microwave like that. But that is the way you buy cars, isn’t it? Did you ever stop to wonder why…?

The answer is that more than a century ago, in the early days of the car biz, the dealers formed one of the strongest cartels in the history of the modern age and were actually able to compel state legislatures to grant them extraordinary rights as to how they conduct business. Not only do those laws still exist today, almost unchanged, but this system was adopted in most other parts of the world. In more than a century, the only one who has had the time, the money, and the influence to challenge this system is Elon Musk of Tesla fame, and even now he is not having an easy time of it. 

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