The Federal Reserve has taken its propaganda activities into a new, younger medium, Instagram and Threads.
An announcement video posted to the social media platforms last week stars the "cool" Chairman of the Federal Reserve System himself, Jerome Powell. With his hair slightly askew, not wearing his usual eyeglasses, and flaunting business casual attire, he addresses his audience:
"The Fed is America's Central Bank working to promote a healthy economy and a strong financial system. That mission starts with you."
"October is National Economic Education Month and throughout the month and beyond, we'll be posting here with information, and other resources how Fed decisions affect you, your family, and your community."
If only this meant the Fed would endeavor to teach the American public about concepts of sound money, the problems of fiat currencies and monetary inflation, the risks of fractional reserve banking, how the Fed enables Big Government and the warfare/welfare state, or even how to be responsible with money.
Instead, of course, the real purpose of Fed's latest propaganda campaign to try burnishing the central bank's increasingly damaged reputation.
According to the Fed, the original intent of starting the Federal Reserve System was to "enhance the stability of the American banking system," while creating more "elasticity" in U.S. currency. This gives privileged elite banks working with the Fed access to the Discount Window, and influence over monetary and fiscal policies.
As evidenced by the most recent panic earlier this year, the stability of the banking system is in serious doubt. However, the most obvious and long-running failure as to the Fed's statutory mandate has been with regard to stable prices.
Indeed, since the establishment of the Federal Reserve in 1913, the U.S. dollar has lost almost all of its value.
As author and analyst David Morgan of the Morgan Report recently reported on Money Metals Exchange, inflation of the U.S. dollar since 1913 has risen astronomically by 3000.2%. That's more than a 97% decline in value, according to the government's own numbers.
As the Fed continues to increase interest rates in an effort to rein in the ferocious inflation monster it unleashed since the recent pandemic, borrowing money becomes more expensive, which could slow down the rate of economic growth.
This inflation is intensified as Congress continues to borrow money to fund the proxy war in Ukraine, the "Green New Deal" program, and other Biden administration priorities.
Helping to enable fiscal recklessness in Washington, the Fed can only teach what NOT to do when it comes to money.
Rather than own up to their mistakes and vow to do better, Fed officials have stooped to targeting young people on social media to stave off their growing public image nightmare from persistently high inflation and recession-inducing rate hikes.
There are plenty of resources for learning about fiscal responsibility, free markets, the ills of monetary inflation, and the problems of government interventionism.
The Tuttle Twins is a great option for teaching kids and pre-teens about concepts of sound economics, individual rights, and personal responsibility.
Elijah Stanfield is the Co-Creator and Illustrator of The Tuttle Twins. When asked over a phone call with Money Metals about the Fed's recent social media campaign, Stanfield remarked:
"Ron Paul brought up the Fed all of those years ago, and this led so many people to start educating themselves since the government and the Fed were not doing it. There's really no way to rationalize what the Fed is doing with money or social media other than Benjamin Franklin's sentiments that inflation is just a hidden tax."
"All in all, the Fed is an authoritarian entity that helps the elite fund endless government spending while creating an underhanded way of stealing money from the American working class!"
As powerful as the Fed's propaganda might be, it has neither reversed the steady erosion of its credibility – nor will it allow the Fed (and the failed system it operates) to escape its ultimate blame for hollowing out the savings of Americans, both young and old.
About the Author:
Joshua D. Glawson is a writer on such topics as politics, economics, philosophy, finance, and personal development. He has a Bachelor's in Political Science from the University of California Irvine. He is the Content Manager of Money Metals Exchange.