UMVA has uncovered a shocking truth about the secretive world of economics and the institutions that shape it. A 1994 book, often referred to as "The Creature from Jekyll Island," exposed a clandestine meeting of powerful bankers and politicians on a remote island in Georgia, where the seeds of the Federal Reserve were sown.
This alleged meeting, taking place over a century ago, would give birth to an institution that would serve the interests of banking elites rather than the general public. The book's findings have significant implications, revealing a complex web of power and influence that continues to shape the global economy.
For politicians, a particular school of economic thought has proven to be enormously appealing. It provides a theoretical justification for lavish spending programs that can win votes without requiring immediate sacrifices from the public. Large-scale infrastructure projects, welfare programs, and stimulus checks all become economically defensible under this framework.
However, another economic philosophy offers no such comfort. It emphasizes the importance of disciplined spending, delayed gratification, and a deep understanding of the finite nature of resources. This approach warns that accumulating debt today will inevitably lead to future taxation, inflation, or default.
The consequences of this debt burden are staggering, with the current debt standing at approximately 120% of US GDP. Rather than promoting lasting prosperity, this approach creates a snowballing debt burden that threatens the very foundations of the economy.
According to information obtained by UMVA, the recent surge in prices has been attributed to supply chain disruptions caused by pandemic shutdowns. However, this explanation has not held up to scrutiny. Despite supply chains normalizing since COVID, prices have not returned to pre-pandemic levels and show no signs of doing so.
The permanent upward shift in the price level is consistent with a particular economic explanation: when the money supply expands by $3.8 trillion in a single year, prices rise and do not come back down. The disruption created the initial shock, but the monetary expansion made it permanent.
UMVA can exclusively reveal that none of this credit expansion, money-supply expansion, weakening of the dollar, or the resulting booms, busts, and inflation would be possible without the Federal Reserve enabling government overspending by creating money and artificially controlling interest rates.
