The FED creates money from nothing with the click of the mouse! First there was no money, then poof! There is money! Next they loan the fake money to the commercial banks and ask for all of it to be paid back plus interest. Only when we pay the money back, we pay it back with REAL MONEY (as in the kind of money you work for every day and pay your taxes with and pay your mortgage with).
The FED creates fake money and we pay it back with REAL MONEY. Am I the only one that sees something wrong with this picture? Do you really trust the FED?
Next, all the REAL MONEY is taken away. Whooosh! It’s gone. What are they doing with it? Where does it go?
Since the FED is a private banking system linked to the IMF, BIS, and World Bank, they just suck the money right out of the country, finance wars, play god, loan it to the socialists, the communists, the capitalists, the fascists, the terrorists, they don’t care. They just want to make more money. No matter who wins the war the Central bank wins because they finance all sides of the war.
Congress has the authority to print money as well. It makes more sense to have congress print debt free money than to borrow it from the FED. If Congress prints the money it stays right here in this country and circulates and that’s what we need.
The FED also has the power to raise and lower interest rates. Why do we let them do that to us?
Some people are telling me that the FED has actually been the cause of all of the depressions and recessions. There is a pattern of abuse that has been detected with the FED contracting the money supply just when we need it most to avert a depression.
Monday, March 16, 2009
How to get rid of the FED and the National Debt
1. Pay off the debt with debt free U.S. notes (If the us can issue a dollar bond it can issue a dollar bill).
2. Abolish Fractional Reserve Banking. As the debt is paid off, the reserve requirements of all banks and financial institutions would be raised proportionally at the same time to absorb the new U.S. notes which would be deposited and become the banks new increased reserves.
3. Repeal of the Federal Reserve Act of 1913 and the National Banking act of 1864. These acts delegate the money power to a private banking monopoly. These acts must be repealed and the money power handed back to the treasury where it was under Abraham Lincoln. No banker or any person affiliated with private lending institutions should be allowed to regulate banking.
4. Withdraw the U.S from the IMF, the BIS, and the World Bank. These institutions like the Federal Reserve are designed to further consolidate the power of the central bankers over the world economies.
5. Any increase in the money flow should be done so at a rate of about 3% or in conjunction with the increase in population. This would ensure a steady stable money growth. All treasury meetings would be transparent to the public unlike how they are conducted now.
Issuing money was advocated by Jefferson, Madison, Jackson, and Lincoln.
Congress has the authority by the constitution to issue currency.
2. Abolish Fractional Reserve Banking. As the debt is paid off, the reserve requirements of all banks and financial institutions would be raised proportionally at the same time to absorb the new U.S. notes which would be deposited and become the banks new increased reserves.
3. Repeal of the Federal Reserve Act of 1913 and the National Banking act of 1864. These acts delegate the money power to a private banking monopoly. These acts must be repealed and the money power handed back to the treasury where it was under Abraham Lincoln. No banker or any person affiliated with private lending institutions should be allowed to regulate banking.
4. Withdraw the U.S from the IMF, the BIS, and the World Bank. These institutions like the Federal Reserve are designed to further consolidate the power of the central bankers over the world economies.
5. Any increase in the money flow should be done so at a rate of about 3% or in conjunction with the increase in population. This would ensure a steady stable money growth. All treasury meetings would be transparent to the public unlike how they are conducted now.
Issuing money was advocated by Jefferson, Madison, Jackson, and Lincoln.
Congress has the authority by the constitution to issue currency.
Deregulation and re-regulation
There were sound business reasons to deregulate much of industry during the '70s, '80s and '90s, just as now there are great reasons to re-regulate business. But regulation is not a panacea that magically makes everything better just as waving the flag of socialism is not nearly enough to make a difference either. Flag-waving is a gesture at best.
During the 1950s you could not buy and hook up an answering machine to your telephone line because the regulatory laws from the FCC said that only the telephone company could do that and the telephone company at that time did not make answering machines, or voice mail or any of the products we have now. If you hooked something up to your telephone line, the telephone company would come out and disconnect it. You couldn't even buy your own phone and hook it up. It was a big problem. Manufacturing companies, the electronics industry and the computer industry were introducing new products that could not be used and the phone company was not having any of it; if it wasn't made by Western Electric, the phone company refused to use it or let anyone else use it either.
The Carterfone decision of 1968 set the precedent, and what followed was a brand new industry that previously did not exist--customer-owned equipment and, later, private networking. Interconnect telephone companies sprang up all over the place. I worked in this industry myself for many years.
Much of the telephone company itself remained tightly regulated and the Public Utilities Commission would act as an advocate for the consumer in every state.
Every service the telephone company sells is "tariffed" and must be approved by a very slow-moving public utilities commission. Rates are controlled by the PUC.
A customer who has issues with the telephone company such as billing problems or service issues can write to the public utilities commission and the telephone companies will bow to the PUC. I have written to the PUC myself and have received rate adjustments and rebates.
Therein lies the difference between the banking industry and the telecommunications industry. Where is the PUC-type function in the banking industry? Who is the hammer that the consumer, the borrower, can use as an advocate when the banking industry steps out of line? The credit card companies do whatever they want to. The banks make up the rules as they go along.
We need a PUC-type operation that can hold the feet of the banking industry to the fire and say, No, you are not going to make adjustable rate loans to borrowers. We are going to have public hearings and then we will tell you what kind of loans you can make. And this new function needs to have teeth in the form of prison terms for those laws that are violated.
During the 1950s you could not buy and hook up an answering machine to your telephone line because the regulatory laws from the FCC said that only the telephone company could do that and the telephone company at that time did not make answering machines, or voice mail or any of the products we have now. If you hooked something up to your telephone line, the telephone company would come out and disconnect it. You couldn't even buy your own phone and hook it up. It was a big problem. Manufacturing companies, the electronics industry and the computer industry were introducing new products that could not be used and the phone company was not having any of it; if it wasn't made by Western Electric, the phone company refused to use it or let anyone else use it either.
The Carterfone decision of 1968 set the precedent, and what followed was a brand new industry that previously did not exist--customer-owned equipment and, later, private networking. Interconnect telephone companies sprang up all over the place. I worked in this industry myself for many years.
Much of the telephone company itself remained tightly regulated and the Public Utilities Commission would act as an advocate for the consumer in every state.
Every service the telephone company sells is "tariffed" and must be approved by a very slow-moving public utilities commission. Rates are controlled by the PUC.
A customer who has issues with the telephone company such as billing problems or service issues can write to the public utilities commission and the telephone companies will bow to the PUC. I have written to the PUC myself and have received rate adjustments and rebates.
Therein lies the difference between the banking industry and the telecommunications industry. Where is the PUC-type function in the banking industry? Who is the hammer that the consumer, the borrower, can use as an advocate when the banking industry steps out of line? The credit card companies do whatever they want to. The banks make up the rules as they go along.
We need a PUC-type operation that can hold the feet of the banking industry to the fire and say, No, you are not going to make adjustable rate loans to borrowers. We are going to have public hearings and then we will tell you what kind of loans you can make. And this new function needs to have teeth in the form of prison terms for those laws that are violated.
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