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The US Does Not Own Or Control Its Money System
What is money?
Most of our adult lives are devoted to making this stuff.
Next to food, water, and sleep it’s the #1 concern for most human beings in the
US. Nearly 80% of divorced couples cite financial difficulties as a reason for
the divorce. And the American
Psychological Association reports that 73% of Americans cite money as a source
of significant stress.
And yet, despite being the medium for every economic
transaction in our financial system, few if any individuals actually understand
what money is and how it works in today’s Federal Reserve banking system.
So I ask again, what is
money?
The common answer is: Dollar bills or coins.
The common answer is wrong.
The US monetary system is in fact entirely backed-by debt.
Dollars are not actually assets, they are debt-backed instruments produced by
the Federal Reserve. I realize this is difficult to swallow, but have a look at
the Dollar bill itself.
Note the top of the bill does NOT read “US Dollar” or
“official currency of the United States.” Instead it reads “Federal Reserve Note.”
So this bill is in fact, NOT produced or controlled by the
US Government. . Instead, it’s a note issued by the Federal Reserve.
The confusion continues if you look around the rest of the
Dollar’s front. Nowhere does it state that the bill was produced by the US
Government or was generated in a Federal facility. Instead you see a black
circle on the left that reads “Federal
Reserve Bank of San Francisco,” indicating that this particular note entered
circulation via the Federal Reserve Bank of San Francisco.
But surely this is just a round about way of saying the
Dollar is the US’s currency, right? After all, the Federal Reserve is a branch
of the US Government.
Wrong. The Federal Reserve is in fact a privately held organization. If you go to the Federal
Reserve’s website you will see that while it IS a .gov web address (http://www.federalreserve.gov/), the
site itself is for “The Board of Governors of the Federal Reserve System,” or
the management of the Federal
Reserve, NOT the Federal Reserve System itself.
Nowhere does this site state what the Fed really is, who
owns it, or how it even operates. Instead, all you see are profiles of the various
members of the Board of Governors (including current Fed Chairman Ben Bernanke)
and articles detailing the data the Fed tracks and the policies it enacts.
Imagine if General Motors’ website made no mention of cars
or trucks but simply focused on GM’s management team and the policies they
employ at the company. THAT’S the equivalent of the Federal Reserve’s website.
Now, the Federal Reserve DOES maintain another website that
focuses more on the Federal Reserve Banking System’s services, however this
website is NOT a .gov site, but a .org site: http://www.frbservices.org/, meaning it
has NO involvement with the US Federal Government/
Which brings me to shocking truth #1: The US Government neither owns nor controls the US Federal Reserve.
At best, the US Federal Reserve is a quasi-governmental organization.
The President of the United States does choose the Chairman of the Federal Reserve’s Board of
Governors. However, even this setup is a farce as the Fed presents candidates
from whom the President can choose from. Moreover, the confirmation of a Fed
Chairman takes place in Congress, whose members receive incentives both
monetary and other from Fed lobbyists as the below quote attests:
"I
was advised that rejecting [Bernanke's] nomination would cause markets to nose
dive, which would hurt retirees and families saving for their future. I am not
enthusiastic in my support. " - Senator Barbara Mikulski (D- MD)
Thus, even the Government’s appointment of the Chairman of
the Board of Governors of the Federal Reserve is a farce. It is at best a
dramatic gesture meant to instill the notion that the Fed is somehow affiliated
with or controlled by the US Federal Government.
However, in reality the Fed is a totally separate entity, a
privately held organization controlled by the most powerful people on the
planet. To put it plainly, the Fed is a cartel permitted to operate and control
the US monetary system with the approval of the US Government.
This is why the US Dollar states “Federal Reserve Note”
instead of “Currency of the United
States” or “Produced by the US Government for the Citizens of the United States
of America” or some such thing.
The US Government didn’t create the US Federal Reserve
system, all it did was give the latter its seal of approval metaphorically (by
passing the Federal Reserve act of 1913 which created the Fed as a legal entity
and gave it control of the US monetary system) AND literally (by placing the US
Treasury Seal on every Federal Reserve Note the Fed produces):
It’s one of the best hidden
secrets in the world… and yet it’s staring all of us in the face. How many
Americans realize this? Better yet, how many Americans realize that our
entire money system is in fact backed by debt?
1 in 100,000?
1 in 1,000,000?
Best Regards
Graham Summers
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"every seed will struggle to express what it is at the root of it's design.
itself...
all are based on assumptions concerning the nature of the world.
like some people they are partially human or not yet human, homo
sapien or homo sentient."
Well stated, my friend. I agree.
"or the mentality of corporations is evolving perhaps as the mentality
of individuals have evolved?"
Great question. I say, perhaps my perspektive is too temporally limited. And akkording to your paradigm, in the future they will grow out of their kurrent "toddler-tyrant" phase. Perhaps then they kan begin to learn. And at puberty, shoot out amongst the stars, Though this may be karrying the metaphor too far. It may also be assuming too mush similarity between homo sapiens & the "seed nature" of a korporation.
Sheers, have a good one!
Beef
symbolically originated beings we are.
word
creators of our environments. and words
our world made in the image of the womb/word/world.
entry and egress. globally interfacing.
speed of light. the machine moment
free to dream
anything we dream
what we dream
as we were dreamt
and dreaming still.
one another and ourselves
.
Witch of the Westmoreland
http://www.youtube.com/watch?v=aqGv2l5bJr4
.
Lukiel666
2 months agoThanks for playing and posting this. This is one of the? few toons that stirs my heart.
Lukiel666 2 months ago@Lukiel666 Glad you? enjoyed :)
.keyword: heart
the heart owns it's own currency to the bone
.
ps. still thinking in my own way...?
let me first admit that this is above my pay grade, so to speak.
this statement frees me up to say what i want without worry
of being wrong. so ..
or i could have said, here my thoughts..
they say the same thing but one way relates me to a "system
of finance" and my place in it. so...
time, past present requires the mind to compose concepts
that mirror "physical" reality. states of things, probabilities
of their stability, maps of the environment . etc..people included.
other people. and self. all mapped in mind. down to the last stitch
of fiber. the rational mind has done this and has reached the point
where it can say ( I ) exist , comprehend the world, somewhat.
all this understanding is in the realm of the rational mind, not the
emotional mind(wrong word) the spatial mind, or left brain development
has peaked. ( technology ) the machine, android meme moment.
when something is gained something is lost. (time) because of time
and the limitation/s . ?
so what is human? what is a self? a human self. and then what is
the nature of a healthy complete adult human identity. so we look at
all this and it has been described in terms of contemporary man and
historic man and prehistoric man. and we have the historic development
evolution of man as a conscious being in evolving societal structures from
slave to free man, and back to slave. with regional differential progressions/
digressions.
when something is gained something is lost.
the "machine" is us. non human. we are also capable of being biological
machines. we have, are, creating living biological machines of ourselves.
slaves, were considered in law partially human, a fraction of a man and we do
not let ourselves be entirely human. so we sacrifice something to receive
something. the basis of a social animal, a human principle, a universal
principle. a physical principle. a mechanical principle.
corporations/modern bureaucracies seem to be complex organizational life forms
that satisfy the desire and need of individual human life forms to express
themselves in the larger socio economic environment. they depend on
the sacrifices of their employees/adherents. they are isms. the individual
so oriented at once becomes empowered and neutered, capable of projecting
the thing for which the corporation functions, but only that thing. the
individual has become a biological tool or cog in the machine incapable
of expressing it's humanity, it's depth and complexity, it's soul.
that being one worst case scenario.
this is why the military recruits children. older employees are driven out
of corporations. why the public is biased to older looking people for
guidance. age brings development and a breadth of experience that
has a familiarity with time itself and the full spectrum of individual
and collective human experience. perhaps insights as to where these
things foul up? we can only hope. what is missing?
rebellious spirits. ?
perhaps we are evolving and we don't understand it. life is all about
expression. healthy life. a biological life form must express it's
potential. this is what it is designed to do.
the corporation etc. provides individuals with a deal, like a wager at a
casino. you do x, you get y and then you have y to do what you will.
individually and collectively this is life expressing it's potential.
as long as it works, in growth (in our current fiat money system) the
individual can make the sacrifice and remain blind to it and the global
consequences. ?
there seems to be a very slight difference between a machine/tool and a human
being in our current paradigm. i hope this is about to change.
if you have not seen i refer you to this excellent discussion..and the archive
older posts..
http://verbewarp.blogspot.com/
.
every seed will struggle to express what it is at the root of it's design.
itself. every fractal will manifest itself. every assumption will lead to it's
logical conclusion and game to it's end. the individual human has it's
seed too. the corporation has it's seed but it is, they are (the alphabet
soup of modern day corporations) have at their root just a fraction
of the human seed. just one sliver or fiber of the human. and they
all are based on assumptions concerning the nature of the world.
like some people they are partially human or not yet human, homo
sapien or homo sentient.
or the mentality of corporations is evolving perhaps as the mentality
of individuals have evolved?
in short or summary i would have to say, what was the question?
and i don"t know the answer at the moment? thanks for asking
and i will continue to work on it, perhaps i'll have better luck once
i have had a chance to wake up and get drunk. (that is a joke children)
.
ps. no human master as no "human" master would lead a Korporation?
@k ..beef,
"
My question for 'the Zedge' is only this:
Is there any human master of these Korporations? "
.
most fascinating question.
Hi blindman,
Glad you think so too. I'm gonna keep looking into it. Dont have an answer yet.
Am thinking along the lines of termite mounds & other distributed intelligent systems. Gotta read up on systems theory and khaos theory, I suppose.
per i-dog's arguments, I'm sure there are intermarried families of psykopaths, serving as a sort of sekret priesthood of the Mysteries, plundering tribes, bamboozling the publik & distributing loot. But "4000 year old bloodlines" sounds like the sort of geneology or pedigree fabrikated by most brigands & warlords throughout human history, onse they deside to seek legitimasy. Small-time or Big-time, Krooks do it all the time, onse they deside to "go legit."
Furthermore, like the many sekret priesthoods of the Ansient Mysteries, betrayed by their metaphysiks & erroneous assumptions, they seek rituals & prinsiples to bind the kaos of the unknown, and thus kontrol their fate. This is a human need, it arises independently akross all rekorded human sosieties. Fishing peoples kreate sea gods, then kreate rituals so that they may kontrol the sea. But none kontrol the sea. Farming peoples kreate earth & fertility gods, so they may be assured harvest & survival. But none kontrol the earth. Death gods, mountain gods, ets; the list goes on & on everywhere you find homo sapiens.
Only resently & only through sientifik observation and experimentation has mankind bekome kapable of assuring relative agrikultural sekurity. This prosess was helped along by the formulation of the Mysteries of Eleusis, or the observations of sun & seasons by Druidik priests. But lukily we dont have to rely on their praktises for survival. These things have a plase: that is the Bronze Age.
i fear our kurrent sekret priesthoods of Ekonomiks, Banking, & Business, are following in the steps of their ansient predesessors: konfusing ritual, pronounsement, & aksepted prinsiples with aktual kontrol. I think in the advent of modern korporations we may have kreated an evolving higher order of komplexity, given it the advantages of immortality & inkorporeality, set it in motion, without truly understanding what it is we are doing.
And so without truly informed human guidanse, the korporate mashine bekomes little more enlightened than a shark. & far more deadly.
phew... sorry for the info-dump. I'd like to hear from you & dont think we are inkonveniensing anyone here at the bottom of an old thread. please share!
Yours,
Beef
If gold is money, silver is money where is the debt?
It seems that debt comes into play in money only when fiat money as opposed to commodity money is in use.
No?
"After World War II, at the Bretton Woods Conference, most countries adopted fiat currencies that were fixed to the US dollar. The US dollar was in turn fixed to gold. In 1971 the US government suspended the convertibility of the US dollar to gold. After this many countries de-pegged their currencies from the US dollar, and most of the world's currencies became unbacked by anything except the governments' fiat of legal tender."
http://en.wikipedia.org/wiki/Money
You've got the logic backwards. Governments didn't fix the price of volatile fiat currencies to stable gold. Government orchestrated a government-determined fixed price (denominated in major currencies) for otherwise volatile gold.
That kindof depends on your point of view, doesn't it.
Debt is a promise, and promises are often broken.
I will gladly pay you Tuesday for a hamburger today.
novus ordo seclorum
novus ordo seclorum
novus ordo seclorum
novus ordo seclorum
When I see the words "This Note Is Legal Tender For All Debts, Public And Private" I assume I have a legal contract.
Why is it that in many, many situations (for example opening a brokerage account) that this note IS NOT legal tender at all. Try walking in with a roll of C-Notes to settle a trade.
They should either change the wording OR Honor the Agreement.
The big issue is not that its fiat nor even that a private cabal controls it -- its that there is INTEREST involved. One can create a gold backed unit of exchange, tag interest of return onto it, and create the exact same ever deeper black hole we see now! Conversely, one can create a balanced non interest bearing totally fiat note and see perfect economy.
All stories other than the interest back of it are smoke screens, because the same usury game can be run again even with a gold backed currency.
The best way to deflect a huge amount of people waking up to something undesirable for them to know is to put in 95% truth -- become the vehicle for the "rest of the sheeple" finding out about it and do the "Bernays" (***) spin upon the remaining 5% with which you fabricate. Once any central "publisher" or money changer ties a VIG to it -- regardless of its fiat or actual value -- the same game will be run with the same results happening.
The seemingly difficult truth of seeing this game lies in its utter simplicity but there is a reason most are not taught the principles of the exponential accumulation of debt. The only source I have seen with 100% clear data about this remaining 5% which is quite under represented even among the most informed is: www.perfecteconomy.com...
*** http://en.wikipedia.org/wiki/Edward_Bernays
"...Bernays helped the Aluminum Company of America (Alcoa) and other special interest groups to convince the American public that water fluoridation was safe and beneficial to human health. This was achieved by using the American Dental Association in a highly successful media campaign."
When was the usury game run in a PM currency to the same level of economic collapse that we've had with fiat money? How does it even work in a hard currency that is continuously deflating...seems like the whole risk and interest structure would be different from fiat, which hardly ever deflates due to government/bank intervention.
You know, I'm really tired of hearing this nonsense that the Fed is by any stretch of the imagination "private". Really, the US government doesn't control the Federal Reserve? You're out of your mind or a socialist apologist. Let me just link you to one article, I want you to read it and then come and tell me one incorrect statement in that article.
http://mises.org/daily/4171
Please, go on, refute it. I'm so tired of this nonsense.
Yer really cuttin' into my drinkin' time makin' me read that bunch a horse phooey on a Friday afternoon.
It's a well established fact that the government has no control over the activities of the Fed. Have you ever heard of the President directing the Chairman of the Fed to do anything?
It's usually the other way around.
The Federal reserve is a private bank, plain and simple. Just because they gussy it up to make it look like the President or the Congress has some control over it, doesn't make it so, in reality. That article was written by some economist from South Africa. What the hell does she know?
The Fed is evil, bitchez, and that's all you need to know.
Have a nice weekend in your fantasy world.
With one vote the Congress could abolish the Fed. The government is complicit, even if it's not in 'control'.
I remember reading Murray Rothbard, I think it was "The Fed" or the "Mystery of Banking" in which he said that the Federal Reserve has as it's collateral for US Debt instruments held outstanding on it's balance sheet payment in gold bullion. My understanding is that is why gold has a book value of around $50 per ounce. Meaning if the Fed is holding roughly $10 billion in treasury bonds outstanding they in effect have as collateral the entire holding of our gold bullion (assumed some 8,000 tons). Why could the government hold as collateral it's own gold bullion?
Have you not paid any attention to the cricle games going on between the Treasury and Fed (and all parts of the US government really)? Does that type of thing really come as a shock to you, is it supposed to prove anything meaningful?
Shhh! Not so loud. You do realize that there is very, . . . very little . . . now standing in the way of hyperinflation?
(Movie quote - Men in Black)
Edwards: Why the big secret? People are smart. They can handle it.
Kay: People are dumb, panicky dangerous animals and you know it.
Why has the web "discussion" begun to turn to hyperinflation? It is simply because most of the criteria to support hyperinflation is already in place. About the only thing lacking is:
The "general population" regards monetary amounts not in terms of the local currency but in terms of a relatively stable foreign currency. Prices may be quoted in that currency.
We cant have "the general population" figure out that " Dollars are not actually assets", if they figure this out, then all the criteria will be met
. . . now i am going to have that irritating voice running through my head all day . . .
"HI, you are ON . the . . EDGE . . ."
I'm going to post an older comment from waterwings:
by WaterWingson Wed, 12/09/2009 - 13:48
#158167
Fractional Reserve Banking is slavery. It is not economic freedom. Both sides of wars are funded by these evil,inhuman bankers - the loser signs a treaty and agrees to 'pay it all back'.
This is not a simple matter of temporary inconvenience. If you agree to pay interest on a loan from them you are enslaving yourself. It is very simple, and they don't want you to know that.
The loan money you agree to pay back did not exist until you signed the dotted line. In fact, it will never 'exist'. When you purchase a home or a car you agree to make payments until the loan is completely paid off, paying an 'agreed' interest rate, a premium, for the convenience of taking control of the home or car without paying in full. But no money is ever exchanged. The loan document is essentially an agreement that if you stop making payments the bank will have to take over, potentially at a loss. Either way the third party, such as the original owner of the home, or Toyota, in the case of a car, is paid in full by the bank - the third party is no longer involved. They have received full payment. But you, my dear consumer, are now a slave.
Why use such a term as slave? Because you are working for someone that never worked for the money in the first place. They 'printed' it. They increased the number of zeros on their ledger because you have agreed to make payments on that money, but it never existed in the first place. That is, the Federal Reserve has the ability to increase the money supply and then pass it on to their 'member' banks: Wells Fargo, Citi, Bank of America, etc. These banks will only take a loss if you stop making payments - and they threaten you with a lower FICO score, which is always fluctuating and at risk of identity fraud anyway, if you decide not to play anymore. So how is this slavery? You are paying interest on money they did not work for. But you had to sweat to get the money to pay that interest. Your sweat goes to these bankers without them doing a thing. If enough of your fellow consumers stop making payments the house of cards falls and the big bank gets a bailout. The small banks just get their assets gobbled up by the big banks; no bailout.
If you, my dear consumer, attempt to create money out of thin air you are put in jail. You are a cheat. But not them. They can create all the money they need, raising this so-called debt ceiling, creating programs like TARP, and other 'bailouts' for risk-taking banksters. That's right. They get your sweat in the form of interest payments, you slave, and they get to take risks because Glass-Steagall has been repealed, and if they fail, you, the taxpaying consumer, get to become the primary investor in their failure: the bailout. They threaten collapse, chaos, and even war if the don't get their bailout from the taxpayer. And then they turn around and lend you, the consumer, money at 10, 20, 30%.
So what is pragmatic? How about a system that cannot be manipulated? How about a system in which losers actually lose and are not allowed to play anymore instead of given huge bonuses?
That system, is a gold-backed system. Keynes is popular in the current time because he speaks the language of bankers and politicians - not the People. There should be no such thing as inflation. Inflation is at best a hidden tax (increase the money supply to fund inefficient programs, sweetheart deals, and risky investments waiting for a bailout) because the value of the money under your mattress is devalued - you can't buy as much anymore. Why should anyone ever! be content to have less money the next day. You can buy X for $10 today, after inflation it will be $11. Why would you ever want that? How is that ever good? This is no mere inconvenience - it really is theft. So these financial scientists (bankers) and politician friends have devised a near perfect system of control. And because you can't inflate gold (it can't be copied, duplicated, or printed) it's 'value' stays constant. A gold coin will always have a specific weight and purity according to the standards of the mint it came from. That's what's in the Constitution - not an extra-governmental (private) instiution that can create as much money as it needs to maintain control!
Banking should be boring. They should accept deposits and charge money for keeping it safe in their vaults. But don't they pay depositors interest, you ask? Why would they pay you to keep your money safe when you can come in and get it back anytime you like? You can't run a business like that! The point of paying interest on a deposit is because the depositor agrees to allow the banker to loan the money to someone else. But that's not how it works, you say? Exactly. Because everybody knows that if enough depositors come to get their money the house of cards collapses and the FDIC has to step in. This should never happen. There should be no such thing, generally speaking, as a bankrun. A bank will fail if they make too many risky loans. That is, if a banker fails to properly evaluate the 'creditworthiness' of the individuals applying for loans. If too many loans go sour the banker fails and all of his assets are purchased by those making loans that are less risky. No need to ask Keynes what he thinks. Banking should not involve economics, which is really about the effects of human choice. Banking is math. If you deposit money, and you want to be able to get it the next day, you must pay the banker a fee for safekeeping. If you agree that your money can be lent to another, trusting the judgment of your banker, then you should receive part of the profit - and you cannot get it the next day, because it has already been lent! How can you possibly retrieve something that is not there? You banker would think you are an idiot to request money you agreed to lend! But that's what an honest system would work. Instead, we have an 'unlimited' system. It stops working properly if you apply gravity. Ron Paul's 26 year attempt to audit the Federal Reserve is almost more of an inside joke. He already knows that the Federal Reserve is evil - but he has a hard enough time deflecting attempts from the media to portray him as a lunatic as it is - he wants the public to perceive what a mudfight will ensue if they actually knew how the system works.
So growth would be slower. But it is inherently stable. Individuals are likely to take less risk, and they are less likely to get a loan that they probably won't be able to pay back. People sharpen their pencils. People look for other ways to finance their plans by seeking out friends, family, neighbors, etc instead of bankers. The free market is the market in which there is no restriction. But we do not have a free market. We have banksters hiding behind green curtains telling us what is best. The more stable the system the less money the banksters make. They make more money gaming the system: booms and busts - and we start to hear these pompous, paid economists (bankster apologists) tell us they couldn't see this was going to happen, and we all nod our heads, "Nobody saw this coming." So because the banksters never work for any of this money it is in their best interest that you, the simple-minded, ever-trusting consumer is in a perpetual state of paying interest. They are less interested in being paid in full than they are having you pay with your sweat.
Bankers control. Consumers always pay. Maybe you already explained all this to your girlie, my fellow FR-hater, and there is much more, but ask her what has always happened when enough people become apathetic to evil. The reason the founding fathers didn't get around to explaining the free market in the Constitution is because it is the lack of restriction. Real liberty. Let coined precious metals be the pinnacle of our economic system - everything else can be bartered. It keeps the bankers at bay.
I leave you with two quotes, from men of opposite character, that say the same thing using different words:
the global central banking cartel is the most evil force in the world
America is an experiment. The purpose of this experiment is for the next experiment - world government, which is supposed to be in shape pretty soon. The Fed is also an experiment, so is Euro. The question is, what is next.
One thing I've noticed people keep neglecting around here is where the profits of the Fed go. They all go into the US Treasury...so doesn't that mean that any profit the Fed gets from USTs just goes right back into the Treasury, so that the government is "paying itself" and inflating the dollar to do it?
Member banks get a 6% dividend from the Fed, and that's just what they tell us. Not all the money goes back to Treasury. I'm sure there's more skimming than just the opaque 6%.
Outstanding! End the Fed
I thought the United States abolished Slavery. Yet, they allowed the Bankers of the Federal Reserve to become the new Slave owners of all of the Citizens of the United States.
The Federal Reserve prints Money for Zero and then has every American pay them interest from their wages for an eternity. If they resist paying they send in the IRS.
Definition of debt: "something that is owed or that one is bound to pay to or perform for another"
So debt is not necessarily a bad thing. Too much debt where people can not deliver said promise cause a breakdown of trust in said instrument.
Currencies and their promise to deliver value are the lubricants of robust trade and economies.
The heart of the problem now is that the trust and ability of the dollar debts is in question.
If you deflate debts to a point where ability to pay is not in question, trust will return. And the big nugget is housing and real estate.
And who determines the 'value'? Not you, not me, it is the Fed. Like someone pointed out earlier, a silver dollar used to buy 4 gallons of gas then, now can buy the same or more. How about that paper dollar? Because silver (or gold) cannot be counterfeited and the annual additions to its supply is limited (and controlled by economic/market forces), it is real money, an asset all by itself. The value of those paper dollars we earn can be manipulated at will.
i guess had there been no federal reserve there would have been no 1st world war, No Russian revolution , no 2nd World War ...and the economic troubles...so ABolish it or the world is in seriuos trouble
I am slowing coming around to similar conclusions.... Same instigators of all evil.
The mixed conflicting market signals return. It reminds me of periods in 2007/2008 during the market uncertainty and dislocation in addition to market intervention or rumours of market intervention (like the QE chatter now).
http://stockmarket618.wordpress.com
All should read recoveringdebtJunkie's post / link:http://peakcomplexity.blogspot.com/2010/09/confronting-our-complicity.ht...
Not at all useless...you have to look at why this structure was used in the first place...how it managed to pass. Why should there be a clear legal separation between the monetary authority and, not just the Treasury, but the entire Civil Service administration.
The US money supply is, in the Fed system, regulated by trans-national banking concerns with an underwriting capacity provided by the US Treasury. Which is to say, the entire resource pool available to the US govt. are there to act as Tier one capital reserves to the Fed.
This was done for a reason... originally, to provide fuel for the light of truth in the midst of inequity, born of venality and ignorance. That's how the Constitution got written.
The elite say they still clinging to these principles, but that's rubbish. They've been killing people left, right and center, the only game in town is 'make money or get fucked', the pop. live under constant stress, in terrible conditions, corruption is sponsored, there is no respect for humanity. All for what? The elite have been able to literally do anything they want anyway, for thousands of years. These last hundred years, in watrs, civilians are actively targeted, middle classes and lower classes are financially wiped out, farmers are marginalized, children are born into cities where there is no lace for them to play, no activities for them to do - why the attack on the subjects?
I get the endless supply of band aid being provided. What I don't get is why, when the writing is on the wall, the rotteness is not being cut out? Profiteering. The little guy doesn't get a break, he doesn't get an opprtunity to get out of a system which is essentially killing him and the persecutors are supported, by the Fed system, in continuing their actions - wheat was shorted like crazy in the run up to harvest, by Banks, does that make sense? There is more than one way to skin this cat.
As long as there is a little meat left on the carcass (me and you) the hyena bankers and their Congressional maggot cronies will fight over the remains.
Using this logic you could argue that the Treasury is not a government agency... Sure, the president chooses the Treasury secrectary BUT he is under the influence of lobbist, therefore the Treasury is private!!! OMG!!!
The reality is that the Board of Governors of the Federal Reserve, the one taking the monetary decisions, is a federal government agency. And the members are chose by the president and congress. Sure, I am sure there is a lot of corruption, but that does not make it less federal. To the contrary, the fact that there is a lot of corruption is a sign that confirms its a federal government agency :) ...
The reality is the Fed is evil, and it doesnt really matter much if its more or less private or a government agency. The control over the monetary policy is under a federal government agency but its still wrong. This debate is totally useless and only confuses people. The debate should be explaining how the monopoly on money hurts the economy and benefits only the politically connected.
ughhh. wake the ef up.
The money the government spends is (predominantly) borrowed from a bank, not from treasury. Treasury gets the money directly from the Federal Reserve Bank, at interest. Let the Treasury coin its own money at 0% and END THE FED. It's costing us our nation. It's costing the world its freedom.
Yes, lets get rid of bankers so politicians are in control! Yeah!
Dont you see something wrong with that? Imagine 40 Freddie and Fannie's financed by the printing presses. It has always ended in disaster and for a reason: politicians are not good alocators of resources.
Why not end the monopoly on money alltogether, and let the people choose which money we want to use? Imposing some money using the guns of government is inmoral and will be abused no matter who is in charge.
Couldn't agree more with you re your last paragraph and nowhere did I state that my intent was to promote monetary control by politicians. They're your thoughts.
Like I said, let the treasury "COIN" money, as in ag/au. Study your history and the US Constitution (US, not U.S., as in WE, the people's Constitution) for understanding. It promotes limited government and uses the anchor of gold and silver as a brake on their spending. People (freemen) spilt blood over this issue and the world and particularly the population of the US, has forgotten the reason why.
Opportunity lost is opportunity to be regained.
Amen to that.
if you have not already done so...........read THE CREATURE FROM JEKYLL ISLAND.
I watched the beginning of Mr. Griffin's video on YouTube. I quit when he completely misrepresented the way a reserve banking system works. He espoused the complete fallacy that a 'bank' can take $1 in deposits and then make $10 in loans. This is an utter fabrication and is a distraction from the issues around our increasingly fragile financial system.
Banks have reserve requirements, let's say they are 10% to keep the math simple. This does NOT mean they can lend $10 for every $ they take in (as Mr. Griffin states in his video). It does mean they can lend $0.90 (0,90 for our readers in europe) for every dollar they take in deposits.
Banks can now use off balance sheet products like CDS to take on far more risk without the worrying about silly things like reserve requirements.
The issues are too important to damage the credibility of your argument by espousing factually incorrect but inflammatory rhetoric.
We are at a crisis point, the ruling elite is running up massive debt and is being accomodated by the FRB monetizing the debt under the guise of "QE".
Does anyone recall the last inflationary episode in the US back in the 70's? Remember wage and price controls? the brilliant 'WIN' (Whip Inflation Now) campaign? What was the precursor for that? The Viet Nam war expenses being funded by an accomodative FRB.
What is happening now is the 70's writ large, very very large.
Get exposure to silver and gold with a lrge part of that being physical ownership.
So, do banks create credit when they lend, or not? I was under the impression that they did. I thought that was the whole point of primary dealers, to multiply the money exuding from the Fed.
When educating the totally ignorant, a simple approach has to be taken. Starting with the traditional mechanics of fractional reserve banking is the right place to start, otherwise how can you show that it has been bastardized? The progression to the current state of Frankenbanking is not comprehensible to someone who doesn't know the basics.
You forgot to mention there is an all seeing pyramid right on the back of the note!
http://williambanzai7.blogspot.com/2010/09/i-knew-it-corruptus.html
I don't care what you call it, the Fed is part of the government. I mean, not that that really changes anything. But if it looks like a duck, quacks like a duck and swims like a duck...
Oh ya your correct. That's why we can easily audit the fed.
There's the Proof Oh misspell Poof. Quack Now what is it.
Magic.
sucker