The FED funds rate is less important to the current economy than its' action allowing non-regulated institutions access to federally backed loans via the discount window. The FED, in an attempt to prevent collapse of these non-member investment institutions, is lending dollars for speculative investment to these firms to aid in recovery of loses from the mortgage and housing collapse; an indirect bailout. In return, the FED is seeking regulatory access to these institutions. The real change comes in September when the discount window arrangement ends and these firms no longer have funds to pump into commodities markets; part of the reason for the rapid recent increase in energy and food prices. The FED is acting on its' responsibility for price stability and banking and finance industry health. Until inflation shows up in the services sector, don't expect much change until September. I wouldn't be long on oil, or invested with anyone who might be, after July.

The theory that the national debt is something that is to be paid off is a hoax perpetrated by the privately owned Federal Reserve system. The ownership comes from Europe. Ref. SECRETS OF THE FEDERAL RESERVE by Eustace Mullins (available as an ebook).

Every “dollar” (FRN) in circulation has been created as a principle of a Bill, Bond, or Note given to the FR by Congress so that the banking system will honor overdrafts (create a line of credit) made by the U.S. government (Congress).

The understood theory given to the U.S. citizen is that the principle will be repaid to the Fed with interest. The amount of the interest has never been created. The interest can only be paid by creating more principle which requires an ever increasing amount of interest which is to be paid in the future.

If an individual promised to pay you a high rate of interest on money that you would loan to him to invest, but the activities of the individual did not have a business operation that would make a profit to generate the interest, it would be called a Ponzi scheme and be shut down before the week is over.

The FR holds approximately one-half of the National Debt within their vaults. The interest paid on the National Debt is about $500 Billion per year.

The FR has been established and is operated as a self-destructive fraud. Ref. http://usa-the-republic.com/items%20of%20interest/Inherent%20National%20Bankruptcy.html or use a search engine for INHERENT NATIONAL BANKRUPTCY.

Last year the national budget increased about 7 percent. The interest on the national debt increased about 15 percent. The increase of debt-interest is exponential and becomes an increasing percentage each year.

A recent claim on the internet is that the Bank of International Settlement (BIS, a Rothschild owned entity) is going to audit the Fed.

A lengthy history of “financiers” who worked with various European rulers for more than 800 years that created fiat currency systems to steal the wealth from the citizens and were eventually expelled from the nations (after national bankruptcies that are related only in other history books) is detailed by Benjamin Ginsberg in his recent book FATAL EMBRACE which can be requested from your local library. Ben even cries when the financiers who (for their economic gain) wanted King John to invade Normandy but were thwarted by the Barons (who were going to be forced to provide the knights and funds for the invasion) forced John to sign the Magna Carta, to cancel the invasion, then confiscated the estates of the financiers, and expelled them from Britain