The housing industry is in a financial freefall, stock market-linked pensions of millions of Americans are insolvent or worthless, Social Security is bankrupt, banks are being closed by the FDIC at record yearly numbers, unemployment is at or above ‘The Great Depression’ levels, and basic commodities cost more than most families can afford to pay. The reason for all of this can be explained in two words: Federal Reserve.
For an American, pointing the finger at such a hallowed institution is akin to saying the U.S. Constitution is outhouse wallpaper! But if responsible citizens take the time to research and evaluate the basis for our economy, they will find out how illegal, corrupt, and self-serving this institution is…. and it’s clearly a violation of the Constitution itself! The Federal Reserve is not federal and there are no reserves held by it. It is no more Federal than Federal Express. It is a private bank owned by private stock holders (member banks) and run for profit to its owners, and it is the third such ‘bank’ to exist as the basis of the U.S. economy after the failure of the first two which operated in exactly the same way. History has proven that even the presidents of the U.S. answer to it or suffer the consequences. Due to its nature to control and circumvent the law of our land, it should be abolished and replaced with a system built on transparency and direct Government direction and responsibility.
“In 1910, a group of private bankers met at a private island named Jekyll Island to plan the imposition of yet another private central bank on the people of the United States. As part of the ruse, they abandoned the unpopular name "Bank of the United States" and chose the name Federal Reserve to grant themselves the illusion that this was a government agency, when in point of fact it is just another privately owned central bank.” (Rivero)
On December 23, 1913 the Federal Reserve Act had been passed by the House of Representatives and the bill was sent to the Senate, which had not adjourned ‘officially’ for the holidays by the rules of the Senate. In the absence of a quorum the bill was presented to the Senate floor by 1 of the 3 members who were present during the moment the bill came forward and all 3 voted for the approval of the bill between the hours of 1:30 a.m. and 4:30 a.m. by voice vote so that a name record was not required or kept. Thus began the deception by the institution responsible for the economic foundation of its country which continues today with much more open abandon. What followed from its inception was the creation of a ‘fractal’ banking system using ‘fiat’ currency as the cornerstone of the fledgling American economy.
Economic money systems, incorporated by banks like the Federal Reserve, are full of data that shows ‘fiat’ currencies, besides having no real value, are beset with problems when not issued and controlled by the governments they represent. ‘Fiat’ currency is currency that is not backed by any ‘tangible’ good, precious metal, or substance; instead it is backed by the good word of the politicians who are responsible for its success. In the case of the Federal Reserve, that ‘good word’ has been transferred from ‘We the People’ to an organization which has no loyalty to any country, only to its shareholders.
“The history of fiat money, to put it kindly, has been one of failure. In fact, EVERY fiat currency since the Romans first began the practice in the first century has ended in devaluation and eventual collapse, of not only the currency, but of the economy that housed the fiat currency as well.” (Jones)
To understand what ‘fiat’ currency is one need only imagine the basic foundation of it: Take a number, any number, write it on a ledger ‘add’ column. Now hand that ledger to someone else to maintain. Then take 10 slips of paper and write 1/10th the value of your original number on each of the slips of paper. Next give the slips to the same person who received the ledger. You have now created a ‘fiat’ currency. As long as you, the other person, and anyone dealing with either of you ‘accept’ the slips and the accounting, you have created ‘real’ currency. Even though the number is imaginary, it exists as long as you and someone else accept it as ‘valid.’
The difference between you and the Federal Reserve is they are the only entity within the United States which is legally allowed to create ‘paper money’ as well as ‘identify’ its value per the Federal Reserve Act which transferred the Constitutional authority from congress to the Federal Reserve. This prompted the following quote, "From now on, depressions will be scientifically created." —Congressman Charles A. Lindbergh Sr. 1913. The next step in the process, besides creating money, is the debt that is added from first moment it was added to the ledger. This means that the Federal Reserve doesn’t just ‘create’ the money; it also charges the government a percentage of debt that is reflective of the amounts represented by individual bills, not for the cost of creation. This debt is ‘owed’ above and beyond what is in circulation and what is called the ‘deficit’ today. This means the US Government will never be able to pay off the debt, as it always exists above and beyond the amounts in circulation and is created because of the nominal figure created in circulation, not the actual cost to create the paper currency. This is absurd simply because the currency or nominal amount did not exist in any form prior to its ‘creation’ which added it to a ledger column. So nothing is truly owed to the Federal Reserve as they do not hold any real ‘reserves’ which the currency value was drawn from. It’s imaginary…at best, and this imaginary debt is immoral and unwarranted to the citizens of America and the reason the Federal Reserve should be closed and the power to create currency given back to the government of the US and its citizens as The Constitution expressly states.
“The Europeans recognized the danger to their financial cartels when the London times published in 1865 this piece regarding our government printing its own currency as Lincoln wished to do:
"If this mischievous financial policy, which has its origin in North America, shall become endurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy every monarchy on the globe." - Hazard Circular - London Times 1865.” (Gompers)
In order to change this system of debt, Congress would have to take back control of our government and its economic growth by striking down the Federal Reserve and begin banking the same way Lincoln did; by issuing the money from the government without ‘debt’. Today Congress and the president are not in charge of the economy. The Federal Reserve controls our money supply and our interest rates and Congress and the President must get our money from the Federal Reserve, who also tells the government how much interest will be paid for the use of its(?) money, as well as when it’s to be repaid, and how often it will be lent out. And as we have seen from the recent TARP (Troubled Asset Relief Program) bailouts, the Federal Reserve doesn’t have to produce information about how much, or exactly who got it money that will be paid by the taxpayers who it was created to help. Senator Barry Goldwater addressed the abuse of the Fed during a Congressional inquiring into its practices:
“Most Americans have no real understanding of the operation of the international moneylenders…. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and … manipulates the credit of the United States.” Sen. Barry Goldwater (R.-AZ) (Royalty Production Company)
The Federal Reserve has no oversight committee or legislative body and is not required to explain its policies. This provides no ability by the people it ‘should’ serve to determine for themselves who the Federal Reserve really works for. Recently- November 2010- Federal Reserve Chairman Ben Bernanke made statements to a Congressional committee that his only goal with another round of Quantitative Easing is the continued support necessary to maintain positive stock investments. In other words, he is not working for the American public; he is working to make the large corporations and banks wealthier. This is absurdity at its most extreme and by itself is support for the Federal Reserve to be struck down. What Bernanke is perpetrating has been learned from his predecessor Alan Greenspan, and these practices have been exposed by Rep. (Texas) Henry B. Gonzalez, a long time critic of the Federal Reserve.
Banks like the Federal Reserve, when given too much power over the currency of a country, end up being the real power of a country, albeit behind the scenes, but the real power nonetheless. Leaders of our country have tried on separate occasions to end the Fed, but have been met with extreme coincidences which usually ended their lives.
President Andrew Jackson was also opposed to foreign ownership and withdrew the federal deposits in 1832 as part of his plan to kill the bank charter in 1836. An attempt to assassinate Jackson in 1834 left him wounded but more determined than ever to stop the central bank. Thirty years later President Lincoln refused to pay international bankers extremely high interest rates during the Civil War and ordered the printing of government bonds. With the help of Russian Czar Alexander II……Both Lincoln and Alexander II were assassinated. In 1881 James Garfield became president and he was dedicated to restoring the right of the federal government to issue money like Lincoln did in the Civil War and he was also assassinated. Years later John F. Kennedy opposed a private national bank and was assassinated in 1963 and Ronald Reagan opposed a private national bank and in 1981 an attempt was made to assassinate him. (Centauri)
Ultimately the American public will need to decide which is more important: the Bank’s profit margin, supported by the policies of the Federal Reserve –or- the economic freedom and stable growth of the Republic for which ‘WE’ stand, which requires the abolishment of the current Federal Reserve and the return of a Central Bank which is owned and operated by ‘We The People’ through the oversight of the Federal Government and its policies. Otherwise we will continue to be subjugated to the policies of a few who are not answerable to the very people who are being taxed and controlled by illegal and unethical practices.
“The Federal Reserve is going back to Jekyll Island to celebrate the 100 year anniversary of the infamous 1910 Jekyll Island meeting that spawned the draft legislation that would ultimately create the U.S. Federal Reserve. The title of this conference is "A Return to Jekyll Island: The Origins, History, and Future of the Federal Reserve", and it will be held on November 5th and 6th in the exact same building where the original 1910 meeting occurred. But the Federal Reserve system was never designed to benefit the American people. It was designed to make massive amounts of money for the banking establishment………The sad truth is that the Federal Reserve is at the very core of our economic and financial problems, and that is nothing to celebrate.” (Snyder)