Just Another Day at the Pentagram

You’ve just arrived home from work. As you walk through your front door, your wife hands you a cocktail.

“Honey, we’ve got to talk,” she tells you as she pours herself a double. “I was balancing the checkbook today, and guess what. We’re missing $6.5 trillion from our account.”

“No problem,” you respond, as you take a sip from your cocktail. “I’ll just call up Federal Reserve Chairman Janet Yellen tomorrow. I’m sure she can help us make good on the shortfall. After all, the Fed has the authority to create money out of thin air.”

Of course, this scenario would never occur. While the Fed can create monetary reserves “ex nihilo” – literally, “out of nothing” – it acts on behalf of the US Treasury, not private citizens.

Civil and criminal penalties, including under certain circumstances a fine of not more than $500,000 and Imprisonment of not more than ten years, are provided for failure to file a report, filing a report containing a material omission or misstatement, or filing a false or fraudulent report. In addition, the currency or monetary instrument may be subject to seizure and forfeiture.

But that’s just not how it works at the Pentagon nor throughout the federal government. I’ve never heard of anyone being held accountable for the loss of the $6.6 billion in cash, must less the “missing” $6.5 trillion. Those who create the money out of thin air make the rules, and the recipients of those funds break them with impunity.

Maybe it’s time to consider your “Plan B.”

Reprinted with permission from Nestmann.com.

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