Federal Reserve sees pick-up in US growth

The Federal Reserve has literally "destroyed the value of money" in the United States. The "US Economy" it refers to is built upon the theft of the wealth of the American People.

Neo-liberalism is today generally associated with the Austrian economic philosophy and inappropriately associated with laizzez-faire capitalism. Laizzez-faire capitalism is mandated with the responsibility of ensuring the rights of the people which are violated by denial of equality of economic opportunity. Denial of equality of economic opportunity caused by economic discrimination, economic stratification, educational disparity, and social class are the "real problems faced by the American peoples" and neo-liberalism does indeed fail to address them.

From my perspective neo-liberalism advocates crony capitalism and the Federal Reserve is just one of many components of crony capitalism.    

Laizze-faire capitalism is certainly utopian in that it assumes "all things are equal for all people" which is not the case and, as noted, that is the real problem faced by the American people. As with all utopian ideologies it doesn't imply that it might not be a goal to strive for but instead means that there are pragmatic considerations that must be understood and dealt with in attempting to approach the utopian goal.

But this thread is not about economic philosophy in general but instead it's about the Federal Reserve and there is a fundamental problem with the Federal Reserve in that it is being "exempted" from contract law by our government. It issues promissory Federal Reserve Notes that under the statutory laws of the United States are redeemable in "lawful money" (which is species coinage currently defined under statutory law as American Eagle Legal Tender coins) but it has no intention of ever redeeming the promissory notes it issues and will not redeem them, nor will our government force the Federal Reserve to redeem them, on demand in accordance with statutory law and the laws of contract.

Basically the Federal Reserve has created a monetary system based upon criminal fraud and that fraud results in the theft of labor by those that "store their labor" in "money" because we can't redeem the promissory notes for the money they promise.
  

I would  highly recommend reading the following:

caselaw.lp.findlaw.com/scripts/getcase.pl?navby=case&court=US&vol=110&page=421
www.law.cornell.edu/uscode/text/12/411

Federal Reserve notes are "legal tender demand prommisory notes" that the Federal Reserve has no intention of ever redeeming and that is contract fraud.

www.ehow.com/facts_6941247_contract-fraud-business_.html

There are numerous causes behind the economic plight of low and middle income workers and I'm the first to admit that. It doesn't help, for example, that the tax burden relative to income is far greater for low and middle income workers than it is for high income individuals. A self-employed individual pays over twice the federal taxes on $100,000 in net income than an investor with the identical net income pays in federal taxes. A low income worker in WA has over 14-times the tax burden relative to income when compared to a high income worker.

This is a reflection of crony capitalism in the United States and it adversely affects the working class in America greatly diminishing their standard of living.

I do address the Federal Reserve because it's "monetary" policies, that violate the statutory laws of the United States (but that are not enforced) is also greatly diminishing the standard of living for the poor and middle class. For examply for the last several years the Federal Reserve has driven interests rates to below 1% which does not reflect the "value of money" in a free market. While the "value of money" varies based upon the "market" it has traditionally been between 3.5%-5.5% in the United States. I recently found that it's about 15% when I was looking at purchasing property in Belize but that is a different market.

Back to the United States we have retirees with they assets in secure investments like T-Bills that traditionally paid about 3.5% (the lowest rate of all secure investments because they're backed by the US government) but the Federal Reserved reduced the interest payments to less than 1% with "quantitative easy" by creating and issuing a Federal Reserve IOU for a US government IOU. This cut the income to retirees by at least 70% that has dramatically reduced their standard of living while also adversely affecting the recovery from the 2008 recession by dramatically reducing their consumption of goods and services. This Federal Reserve action has reduced the number of jobs as well as reducing wages because of the massive reduction in consumption by retirees because the Federal Reserve reduced their income from government securities by artificially reducing the interest rates. The GDP is less because about $1 trillion hasn't been spent by retirees because their income was reduced by the Federal Reserve's cutting of the interest rates to below the "market value" of money.