FEDERAL RESERVE 101
FED UP WITH THE FED
FED UP WITH THE FED
On December 23, 1913, Congress passed the Federal Reserve Act. The result? The greatest theft in the history of the world! A U.S. Federal debt of over $5,000,000,000,000, the loss of America's gold and silver reserves. and the devastation of our economy!
Few know that the Federal Reserve is not a U.S. government agency but a privately owned banking system. Perhaps you don't believe that?
Mr. Lewis was injured by a Federal Reserve vehicle and sued the U.S. government. On April 17, 1982, the court ruled: "...that since the Federal Reserve System and its twelve branch banks are private corporations, the federal government could not be held responsible."
-Lewis vs U.S., 608F 2d 1239 (1982)
PREVIOUS FEDERAL BANKING HISTORY
" If the American People ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property, until their children will wake up homeless on the continent their fathers occupied. The issuing of money should be taken from the banks and restored to Congress and the people to whom it belongs."
Alexander Hamilton lobbied for the first privately-owned Federal Bank, and in 1789 Congress chartered the bank for 20 years. In 1811 President Jefferson refused to renew the charter for the bank stating, "I sincerely believe the banking institutions having the issuing power of money are more dangerous to liberty than standing armies."
In 1816 Congress established the second Federal Bank. But, President Jackson , overiding Congress, closed it in 1836 commenting," The bold effort the present bank had made to control the government ... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it."
HOW IT HAPPENED AGAIN
Prior to Federal Reserve Act, Congress held hearings on the "Money Trusts". They found outstanding control over credit resources of the country by J.P. Morgan and allied investment firms. -Congressional Report 1593, 62nd Congress, 3rd Session
"Since it would be fatal to Senator Aldrich's plan to have it known that he was calling on anybody from Wall Street to help him in preparing his report and bill, precautions were taken... asked to go were Henry Davidson, Paul Wauberg, Ben Strong and myself. From Washington came A. Piatt Andrew Jr. .. We were told to leave our names behind us...We were instructed to come one at a time and as unobrusively as possible to the railroad terminal.. Where Senator Aldrich's private car would be in readiness... Discovery, we knew . simply must not happen...If it were exposed publicly that our particualr group had written a banking bill, that bill would have no chance whatever of passage by Congress... although the Aldrich Federal Reserve plan was defeated, its essential points were contained in the plan that was finally adapted... "- Paul Vanderlip- "From Farm Boy to Financer", Saturday Evening Post, Feb 5, 1935. ( They represented : Rothshild, J.P. Morgan, Kuuhn Loeb, or Rockefeller, who together controlled over one-fourth of the world's wealth.)
"The new (Federal Reserve) law will create inflation whenever the trusts want a period of inflation... Now, if the trusts can get another period of inflation, they figure they can unload the stocks on the people at high prices during the excitement and then bring on a panic and buy them back at low prices... The people may not know it immediately, but the day of reckoning is only a few years removed."- Congressman Lindbergh, ( the aviator's father) Congressional Record, Dec, 22, 1913
1929 - THE CRASH
In 1913 Congress established the Fed to end periods of U.S. inflation and recession. Sixteen years later, as predicted by Lindbergh, came the worst financial depression in U.S. history.
Although many economists state that the depression was the result of the Hawley-Smoot Tariff Act, which increased duties on imports, it should be noted that the bill was not signed into law until April 1930, eight months after the crash.
Others thought differently. " When business in the United States underwent a mild contraction in 1927,the Federal Reserve created more paper reserves in the hope of forestalling any possible bank reserve shortage. ... More disastrous, however, was the Federal Reserve's attempt to assist Great Britain... The excess credit spilled over into the stock market - triggering a fantastic speculative boom... As a result, the American economy collapsed." - Alen Greenspan, Federal Reserve Chairman - "Gold and Economic Freedom,"
Incidently the "Money Trust" bankers made fortunes in the crash. They had, amazingly, removed their funds from the market just before the crash. "It was not an accident, it was a carefully contrived occurance. The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all." - Louis B. McFadden, Chairman, House Banking Committee.
ENTER THE IRS
Another bill co-sponsored by Senator Aldrich was the 16th Amendment creating the Income Tax. As a consequence, the IRS was established to collect taxes to compensate for tariff losses resulting from the Underwood Trade Bill, which cancelled most tariffs. Instead the IRS has been used to support the Fed.
Doubting the 16th Amendment was actually ratified, Bill Benson and Red Beckman traveled the 48 states, gathering certified documents. According to the two volume work, " The Law That Never Was," the amendment was not properly ratified by even one state!
Can you imagine a Congress which has permitted the IRS to acquire such powers that even they are intimidated by the agency. Talk about negligence.
Frequently resorting to outright confiscation, the IRS refuses to permit a jury trial unless the assessed taxes are paid first. You are guilty until proven innocent!
THE FINAL TOUCHES
In 1933 President Roosevelt confiscated our gold. In 1965, under President Johnson, silver was removed from coins. And in 1978, during President Carter's administration, Congress took us off the gold standard. The American people were robbed, and did nothing!
Even if you have cash, it isn't true money, Read it, it's a Federal Reserve Note. Worse yet, it's an unsecured , an indebtedness for which no security has been pledged. It is known as fiat money.
Fiat money. Paper currency not backed by gold or silver.
- Black's Law Dictionary, 6th Edition.
Because it is not backed by anything of true value, our currency can be devalued at any time. In Peru their fiat money was devalued 1,000,000 to 1 overnight!
Compared to a dollar in 1900, today's U.S. dollar is worth about five cents. It has been the devaluation of the dollar, not inflation, which has reduced its buying power.!
THE FEDERAL RESERVE WAY
If the Fed issues $100 billion at 10% to the banks, the banks will have to repay $110 billion at year's end. But, only $100 billion was put into circulation so there isn't $110 billion available, and the $10 billion shortage becomes debt.
All money is borrowed from banks, and is known as debt money. If someone borrows $100,000 at 10% to open a company, they put money into circulation and the economy improves. But when they repay the loan plus the interest, ($110,000) to the bank, more is removed from circulation than was added, and the economy suffers. With debt money, if all debts were repaid, there would be no money in circulation!
FRACTIONAL RESERVE BANKING
Equally as bad is Fractional Reserve Banking. Banks, and the Fed, loan additional money above their cash assets at a percentage set by the Fed. For example, if the fractional reserve is set at 10% and a bank has $1 million on deposit (10% of $10 million), they can loan an additional $9 million- money they do not have! But they charge interest on this imaginary money that they loan! Thus banks are printing money in the form of checks. It is fraudulent and unconstitutional , but as long as other banks, businesses, and people honor the checks it functions as money. This illegal act by banks has been one of the primary causes of panics and depressions throughout history.
" When the Federal Reserve Act was passed, the people of the United States did not perceive that a world banking system was being set up here. A superstate controlled by international bankers and industrialists acting together to enslave the world for their own pleasure. Every effort has been made to conceal its powers but the truth is - the Fed has usurped the government."- Louis B. McFadden, Chairman, House Banking Committee, 1933
How can the Fed actually control the United States? By decreasing interest rates the Fed can create an economic upswing causing stock values to rise. Conversly, increasing interest rates causes the economy to falter. Who is blamed for recessions? Not the Fed! Pity the president who disagrees with the agenda of the Fed. And the taxpayers pay them to have such control!
"Let me issue and control a nation's money, and I care not who writes its laws" - Meyer Rothschild (1743-1812)
HOW THE FED PAYS ITS BILLS
This may sound impossible, but the Fed writes a check on an account in which there is no money. The check is accepted as money by the creditor's bank, and it is eventually returned to the Fed.
Consider how the public debt is increased. When more money is needed, the Fed sells Treasury Bonds (pieces of paper) for the amount required. These bonds are sold at an interest rate set by the Fed. Treasury then sends the printed currency to the Fed which pays a few pennies for each printed bill. The money is then sent to banks for issue as debt money.
However, unlike government agencies, the Fed must pay for postage on mail and the real estate taxes on their properties.
THEY DON'T EVEN WORK FOR US
Although the president appoints members of the Federal Reserve Board of governors, their 14 year terms mean they can outlast presidential influences. Federal Reserve workers are not civil service employees.
In "Secrets of the Federal Reserve", Eustace Mullins states that the principal shareholders of the Fed are: the Rothschilds, Lazard Feres, Israel Schiff, Kuhn-Loeb Co., Warburg Co., Lehman Brothers, Goldman-Sachs, the Rockefeller family, and the J.P. Morgan interests. To whom does the Fed owe its allegiance?
THE CONSTITUTIONAL WAY
Constitutional money is gold or silver. Originally these precious metals were sent by owners to the mint and transformed into coins. This money was then spent into the economy and remained in circulation. Every dollar improved the economy of the country , and , in an exchange of goods for money, the seller received true value in gold or silver, or in gold or silver certificates.
Even if Congress were to issue debt money the interest would be returned to the U.S. Treasury, not to a private bank.
WHY CONGRESS LOVES THE FED
Why would members of Congress continue to support such an evil entity as the Fed? Because, since our currency is not backed by gold or silver, Congress can spend all it wants knowing full well that the Fed will provide them with the money, They will not have to raise taxes- they just put us deeper in debt!
In its entire history the Fed has never been Audited!
Hypertexted from the Original Publication by:
Citizens for Better Government, Gainesville, Fla.
Last Modified: June 2, 1998
ROTHSCHILDS & ROCKEFELLERS: TRILLIONAIRES OF THE WORLD
“Money is Power”, or shall we say, “The Monopoly to Create Credit Money and charge interest is Absolute Power”. (Alex James)
Amsel (Amschel) Bauer Mayer Rothschild, 1838:
“Let me issue and control a Nation’s money and I care not who makes its laws”.
Letter written from London by the Rothschilds to their New York agents introducing their banking method into America: “The few who can understand the system will be either so interested in its profits, or so dependent on its favours, that there will be no opposition from that class, while, on the other hand, that great body of people, mentally incapable of comprehending the tremendous advantage that Capital derives from the system, will bear its burden without complaint and, perhaps, without even suspecting that the system is inimical to their interests.”
Nathan Rothschild said to the Commons Secret Committee on the question early in 1819: “In what line of business are you? – Mostly in the foreign banking line. “Have the goodness to state to the Committee in detail, what you conceive would be the consequence of an obligation imposed upon the Bank [of England, which he owned] to resume cash payments at the expiration of a year from the present time? – I do not think it can be done without very great distress to this country; it would do a great deal of mischief; we may not actually know ourselves what mischief it might cause. “Have the goodness to explain the nature of the mischief, and in what way it would be produced? – Money will be so very scarce, every article in this country will fall to such an enormous extent, that many persons will be ruined.”
The director of the Prussian Treasury wrote on a visit to London that Nathan Rothschild had as early as 1817: “.., incredible influence upon all financial affairs here in London. It is widely stated.., that he entirely regulates the rate of exchange in the City. His power as a banker is enormous”.
Austrian Prince Mettemich’s secretary wrote of the Rothschilds, as early as 1818, that: “… they are the richest people in Europe.”
Referring to James Rothschild, the poet Heinrich Heine said: “Money is the god of our times, and Rothschild is his prophet.”
James Rothschild built his fabulous mansion, called Ferrilres, 19 miles north-east of Paris. Wilhelm I, on first seeing it, exclaimed: “Kings couldn’t afford this. It could only belong to a Rothschild!”
Author Frederic Morton wrote that the Rothschilds had: “conquered the World more thoroughly, more cunningly, and much more lastingly than all the Caesars before…”
As Napoleon pointed out: “Terrorism, War & Bankruptcy are caused by the privatization of money, issued as a debt and compounded by interest “- he cancelled debt and interest in France – hence the Battle of Waterloo.
Some writers have claimed that Nathan Rothschild “warned that the United States would find itself involved in a most disastrous war if the bank’s charter were not renewed.” (do you see the similarities here? If you don’t play the game an economic disaster will fall on you and you will be destroyed.)
“There is but one power in Europe and that is Rothschild.” 19th century French commentator.
Lord Rothschild (Rockefellers and Rothschilds’ relatives) in his book The Shadow of a Great Man quotes a letter sent from Davidson on June 24, 1814 to Nathan Rothschild, “As long as a house is like yours, and as long as you work together with your brothers, not a house in the world will be able to compete with you, to cause you harm or to take advantage of you, for together you can undertake and perform more than any house in the world.” The closeness of the Rothschild brothers is seen in a letter from Soloman (Salmon) Rothschild to his brother Nathan on Feb. 28, 1815, “We are like the mechanism of a watch: each part is essential.” (2) This closeness is further seen in that of the 18 marriages made by Mayer Amschel Rothschild’s grandchildren – 16 were contracted between first cousins.
“Centralisation of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.” The Communist Manifesto. In the case of the Bolshevik revolution, Rothschilds/ Rockefellers’ Chase Bank owned the state. In the US, the FED owners “own” the state.
Rothschilds’ favorite saying who along with the Rockefellers are the major Illuminati Banking Dynasties: “Who controls the issuance of money controls the government!”
Nathan Rothschild said (1777-1836): “I care not what puppet is placed on the throne of England to rule the Empire. The man who controls Britain’s money supply controls the British Empire and I control the British money supply.”
Rockefeller is reported to have said: “Competition is a sin”. “Own nothing. Control everything”. Because he wants to centralize control of everything and enslave us all, i.e. the modern Nimrod or Pharaoh.
The Rothschild were behind the colonization and occupations of India and the Rothschild owned British Petroleum was granted unlimited rights to all offshore Indian oil, which is still valid till this day.
“Give me the control of the credit of a nation, and I care not who makes the laws.” The famous boastful statement of Nathaniel Meyer Rothschild, speaking to a group of international bankers, 1912: “The few who could understand the system (cheque, money, credits) will either be so interested in its profits, or so dependent on its favours, that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.” The boastful statement by Rothschild Bros. of London.
These people are the top masterminds and conspired for the creation of illegal FEDERAL RESERVE BANK in 1913: Theodore Roosevelt, Paul Warburg – Representative Of Rothschild, Woodrow Wilson – U.S. President Signed FED Into Act, Nelson W. Aldrich – Representative Of Rockefeller, Benjamin Strong – Representative Of Rockefeller, Frank A. Vanderlip – Representative Of Rockefeller, John D. Rockefeller – Rockefeller Himself, Henry Davison – Representative Of J. P. Morgan, Charles Norton – Representative Of J. P. Morgan.
In the last century, members of the British Fabian Society dynastic banking families in the City of London financed the Communist takeover of Russia. Trotsky in his biography refers to some of the loans from these British financiers going back as far as 1907. By 1917 the major subsidies and funding for the Bolshevik Revolution were co-ordinated and arranged by Sir George Buchanan and Lord Alfred Milner. [no doubt using money from Cecil Rhodes' South African gold and diamond legacy - Ed] The Communist system in Russia was a “British experiment” designed ultimately to become the Fabian Socialist model for the British takeover of the World through the UN and EU. The British plan to takeover the World and bring in a “New World Order” began with the teachings of John Ruskin and Cecil Rhodes at Oxford University. Rhodes in one of his wills in 1877 left his vast fortune to Lord Nathan Rothschild as trustee to set up the Rhodes Scholarship Program at Oxford to indoctrinate promising young graduates for the purpose, and also establish a secret society [Royal Institute of International Affairs RIIA, which branched into the Round Table, the Bilderbergers, the CFR, the Trilateral, etc -- Ed] for leading business and banking leaders around the World who would work for the City to bring in their Socialist World government.
Rothschild appointed Lord Alfred Milner to implement the plan.
Benjamin Freedman (Friedman) said this in 1961, Washington (he was a millionaire insider in international Zionist organizations, friend to 4 US presidents, and was also part of the 117-man strong Zionist delegation at the signing of the Treaty of Versailles in 1919 where Germany was forced into bankruptcy to the Zionist BankLords and social chaos): “Two years into WW1, Germany, which was then winning the war, offered Britain and France a negotiated peace deal, but German Zionist groups seeing the opportunity made a deal with Britain to get the United States into the war if Britain promised to give the Zionists Palestine.”
In other words, they made this deal: “We will get the United States into this war as your ally. The price you must pay us is Palestine after you have won the war and defeated Germany, Austria-Hungary, and Turkey.” They made that promise, in October of 1916. And shortly after that — I don’t know how many here remember it — the United States, which was almost totally pro-German because the newspapers and mass communications media here were controlled by the Zionist bankers who owned the major commercial banks and the 12 Federal Reserve Banks (the original Stockholders of the Federal Reserve Banks in 1913 were the Rockefeller’ s, JP Morgan, Rothschild’s, Lazard Freres, Schoellkopf, Kuhn-Loeb, Warburgs, Lehman Brothers and Goldman Sachs, all with roots in Germany’s Zionists like the British Royal family, J.P. Morgan, Carnegie, Bush, Rumsfeld, Clintons, the Nazis that were brought into the CIA, etc. http://land.netonecom.net/tlp/ref/federal_reserve.shtml ) and they were pro-German because they wanted to use Germany to destroy the Czar of Russia and let the Communists whom they funded take over. The German Zionist bankers — Rothschilds, Rockefeller, Kuhn Loeb and the other big banking firms in the United States refused to finance France or England to the extent of one dollar. They stood aside and they said: “As long as France and England are tied up with Russia, not one cent!” They poured money into Germany, fighting with Germany against Russia, to lick the Czarist regime. The newspapers had been all pro-German, where they’d been telling the people of the difficulties that Germany was having fighting Great Britain commercially and in other respects, then after making the deal with the British for Palestine, all of a sudden the Germans were no good. They were villains. They were Huns. They were shooting Red Cross nurses. They were cutting off babies’ hands. And they were no good. The Zionists in London sent cables to the US, to Justice Brandeis: “Go to work on President Wilson. We’re getting from England what we want. Now you go to work, and you go to work on President Wilson and get the US into the war.” And that did happen. Shortly after President Woodrow Wilson declared war on Germany.
The power of the Rothschild family was evidenced on 24 Sept 2002 when a helicopter touched down on the lawn of Waddedson Manor, their ancestral home in Buckinghamshire, England. Out of the helicopter strode Warren Buffet, – touted as the second richest man in the World but really a lower ranking player- and Arnold Schwarzenegger (the gropinator), at that time a candidate for the Governorship of California. Also in attendance at this two day meeting of the World’s most powerful businessmen and financiers hosted by Jacob Rothschild were James Wolfensohn, president of the World Bank and Nicky Oppenheimer, chairman of De Beers. Arnold went on to secure the governorship of one of the biggest economies on the planet a year later. That he was initiated into the ruling class in the Rothschilds’ English country manor suggests that the centre of gravity of the three hundred trillion dollar cartel is in the U.K. and Europe not the U.S.
A recent article in the London Financial Times indicates why it is impossible to gain an accurate estimate of the wealth of the trillionaire bankers. Discussing the sale of Evelyn Rothschild’s stake in Rothschild Continuation Holdings, it states: …[this] requires agreement on the valuation of privately held assets whose value has never been tested in a public market. Most of these assets are held in a complex network of tax-efficient structures around the World.
Queen Elizabeth II’s shareholdings remain hidden behind Bank of England Nominee accounts. The Guardian newspaper reported in May 2002 … “the reason for the wild variations in valuations of her private wealth can be pinned on the secrecy over her portfolio of share investments. This is because her subjects have no way of knowing through a public register of interests where she, as their head of state, chooses to invest her money. Unlike the members of the Commons and now the Lords, the Queen does not have to annually declare her interests and as a result her subjects cannot question her or know about potential conflicts of interests…” In fact, the Queen even has an extra mechanism to ensure that her investments remain secret – a nominee company called the Bank of England Nominees. It has been available for decades to the entire World’s current heads of state to allow them anonymity when buying shares. Therefore, when a company publishes a share register and the Bank of England Nominees is listed, it is not possible to gauge whether the Queen, President Bush or even Saddam Hussein is the true shareholder.
By this method, the trillionaire masters of the universe remain hidden whilst Forbes magazine poses lower ranking billionaires like Bill Gates and Warren Buffett as the richest men in the World. Retired management consultant Gaylon Ross Sr, author of Who’s Who of the Global Elite, has been tipped from a private source that the combined wealth of the Rockefeller family in 1998 was approx (US) $11 trillion and the Rothschilds (U.S.) $100 trillion. However something of an insider’s knowledge of the hidden wealth of the elite is contained in the article, “Will the Dollar and America Fall Down on August 19?..” on page 1 of the 12th July 2001 issue of Russian newspaper Pravda. The newspaper interviewed Tatyana Koryagina, a senior research fellow in the Institute of Macroeconomic Researches subordinated to the Russian Ministry of Economic Development (Minekonom) on the subject of a recent conference concerning the fate of the U.S. economy:
Koryagina: The known history of civilization is merely the visible part of the iceberg. There is a shadow economy, shadow politics and also a shadow history, known to conspirologists. There are [unseen] forces acting in the World, unstoppable for [most powerful] countries and even continents.
Ashley Mote (EU): “Mr President, I wish to draw your attention to the Global Security Fund, set up in the early 1990s under the auspices of Jacob Rothschild. This is a Brussels-based fund and it is no ordinary fund: it does not trade, it is not listed and it has a totally different purpose. It is being used for geopolitical engineering purposes, apparently under the guidance of the intelligence services.” “I have previously asked about the alleged involvement of the European Union’s own intelligence resources in the management of slush funds in offshore accounts, and I still await a reply. To that question I now add another: what are the European Union’s connections to the Global Security Fund and what relationship does it have with European Union institutions? “Recently, Ashley Mote of the European Union (EU) asked this volatile question in a public EU meeting, a question never answered, as Mr. Mote, merely by asking this question, was immediately scratched from the White House Christmas card list and placed on its top ten hit list. The Illuminati’s cash cow, grazing freely on the World wide pasture of greenbacks, isn’t called “Elsie” but instead is called the Global Security Fund, a name actually meaning in the secret cult’s language Global Terrorist Fund. In simple terms, it’s a gigantic illegal trust fund, estimated by undercover overseas financial investigators at 65 trillion dollars, set-up for “Illuminati rainy days” and established when it is desperately needed in a pinch for bribery, assassinations and sponsoring World wide terrorist activities to divert attention from their banking mafia. Although the fund is cloaked in secrecy and made possible by the Western civilization’ s Federal Reserve banking system, investigators trying to pry into the Illuminati’s secret treasure trove have uncovered some interesting facts.
25 Fast Facts About The Federal Reserve
As we approach the 100 year anniversary of the creation of the Federal Reserve, it is absolutely imperative that we get the American people to understand that the Fed is at the very heart of our economic problems. It is a system of money that was created by the bankers and that operates for the benefit of the bankers. The American people like to think that we have a "democratic system", but there is nothing "democratic" about the Federal Reserve. Unelected, unaccountable central planners from a private central bank run our financial system and manage our economy. There is a reason why financial markets respond with a yawn when Barack Obama says something about the economy, but they swing wildly whenever Federal Reserve Chairman Ben Bernanke opens his mouth. The Federal Reserve has far more power over the U.S. economy than anyone else does by a huge margin. The Fed is the biggest Ponzi scheme in the history of the world, and if the American people truly understood how it really works, they would be screaming for it to be abolished immediately. The following are 25 fast facts about the Federal Reserve that everyone should know...
#1 The greatest period of economic growth in U.S. history was when there was no central bank.
#2 The United States never had a persistent, ongoing problem with inflation until the Federal Reserve was created. In the century before the Federal Reserve was created, the average annual rate of inflation was about half a percent. In the century since the Federal Reserve was created, the average annual rate of inflation has been about 3.5 percent, and it would be even higher than that if the inflation numbers were not being so grossly manipulated.
#3 Even using the official numbers, the value of the U.S. dollar has declined by more than 95 percent since the Federal Reserve was created nearly 100 years ago.
#4 The secret November 1910 gathering at Jekyll Island, Georgia during which the plan for the Federal Reserve was hatched was attended by U.S. Senator Nelson W. Aldrich, Assistant Secretary of the Treasury Department A.P. Andrews and a whole host of representatives from the upper crust of the Wall Street banking establishment.
#5 In 1913, Congress was promised that if the Federal Reserve Act was passed that it would eliminate the business cycle.
#6 The following comes directly from the Fed's official mission statement: "To provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded."
#7 It was not an accident that a permanent income tax was also introduced the same year when the Federal Reserve system was established. The whole idea was to transfer wealth from our pockets to the federal government and from the federal government to the bankers.
#8 Within 20 years of the creation of the Federal Reserve, the U.S. economy was plunged into the Great Depression.
#9 If you can believe it, there have been 10 different economic recessions since 1950. The Federal Reserve created the "dotcom bubble", the Federal Reserve created the "housing bubble" and now it has created the largest bond bubble in the history of the planet.
#10 According to an official government report, the Federal Reserve made 16.1 trillion dollars in secret loans to the big banks during the last financial crisis. The following is a list of loan recipients that was taken directly from page 131 of the report...
Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion
#11 The Federal Reserve also paid those big banks $659.4 million in fees to help "administer" those secret loans.
#12 The Federal Reserve has created approximately 2.75 trillion dollars out of thin air and injected it into the financial system over the past five years. This has allowed the stock market to soar to unprecedented heights, but it has also caused our financial system to become extremely unstable.
#13 We were told that the purpose of quantitative easing is to help "stimulate the economy", but today the Federal Reserve is actually paying the big banks not to lend out 1.8 trillion dollars in "excess reserves" that they have parked at the Fed.
#14 Quantitative easing overwhelming benefits those that own stocks and other financial investments. In other words, quantitative easing overwhelmingly favors the very wealthy. Even Barack Obama has admitted that 95 percent of the income gains since he has been president have gone to the top one percent of income earners.
#15 The gap between the top one percent and the rest of the country is now the greatest that it has been since the 1920s.
#16 The Federal Reserve has argued vehemently in federal court that it is "not an agency" of the federal government and therefore not subject to the Freedom of Information Act.
#17 The Federal Reserve openly admits that the 12 regional Federal Reserve banks are organized "much like private corporations".
#18 The regional Federal Reserve banks issue shares of stock to the "member banks" that own them.
#19 The Federal Reserve system greatly favors the biggest banks. Back in 1970, the five largest U.S. banks held 17 percent of all U.S. banking industry assets. Today, the five largest U.S. banks hold 52 percent of all U.S. banking industry assets.
#20 The Federal Reserve is supposed to "regulate" the big banks, but it has done nothing to stop a 441 trillion dollar interest rate derivatives bubble from inflating which could absolutely devastate our entire financial system.
#21 The Federal Reserve was designed to be a perpetual debt machine. The bankers that designed it intended to trap the U.S. government in a perpetual debt spiral from which it could never possibly escape. Since the Federal Reserve was established nearly 100 years ago, the U.S. national debt has gotten more than 5000 times larger.
#22 The U.S. government will spend more than 400 billion dollars just on interest on the national debt this year.
#23 If the average rate of interest on U.S. government debt rises to just 6 percent (and it has been much higher than that in the past), we will be paying out more than a trillion dollars a year just in interest on the national debt.
#24 According to Article I, Section 8 of the U.S. Constitution, the U.S. Congress is the one that is supposed to have the authority to "coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures". So exactly why is the Federal Reserve doing it?
#25 There are plenty of possible alternative financial systems, but at this point all 187 nations that belong to the IMF have a central bank. Are we supposed to believe that this is just some sort of a bizarre coincidence?