Taking over the Fed is the critical missing element needed to move humanity back from the
brink of economic destruction and nuclear disaster, away from a future
dominated by fraud, ugliness and warfare, toward a world of justice and beauty. Who gets the power to create money is the
question that's at the heart of monetary reform, and this power is an awesome
power -- at times stronger than the executive,
legislative and judicial powers combined.
It's like having a "magic checkbook" where checks can't bounce. When a nation's central bank is controlled
and essentially owned by banksters, it can be used, by them, to allow a good portion of the top 1% to gain obscene
amounts of riches. But much more
importantly, that power (of central bank ownership), depending on who has it,
determines the direction and success of our society. How so?
By deciding what gets funded, nationally, and what does not.
So, will our
taxes be used primarily to build and repair vital infrastructure such as the
New Orleans levees and Minneapolis bridges, and to otherwise protect and
enhance major cities and the country at large? Or will our tax revenues continue to be
squandered on profit-making warfare, profit-making
real estate bubbles, and profit-making Wall
Street derivatives gambling -- leading once again to crises, crashes and perhaps even another depression and war,
as the existing 'Federal' Reserve racket has repeatedly allowed/encouraged in
the past?
The power of
issuing money should never have been taken away from our democratically elected
government and placed into the scheming hands of banksters, as it was in 1913,
in the form of the privately owned, but deceptively named, "Federal" Reserve
System, which was secretly conceived and born in that
year.
Most people
would be surprised to learn that the bulk of our nation's money supply is not
created by our government, but rather by banks as they make loans. Banks create new "money" out of thin air whenever
they make loans. They do this by instantly
putting this newly created money into the private bank accounts of those taking
out loans. In other words, most of our
money is issued as interest-bearing
debt by banksters who collect billions of dollars of inflated interest payments on all
that indebtedness. When Joe Blow borrows
money from a bank, that money, contrary to popular understanding, does not in
any way come from the supply of money that other customers have deposited. That's a popular fiction created by banksters
as part of their grand scam. Rather, it
is new money that the bank has created out of thin air for Joe, by simply using
a computer to instantaneously add a specified amount of indebtedness (i.e.
interest-bearing debt) to Joe's account.
Joe gets the money he has borrowed from the bank, but fundamentally those
dollars are units of interest-bearing
debt. Joe then has to pay relatively
high rates of interest on every freshly created dollar he borrows from the
bank. This is, of course, a gold mine
for banksters, because all the money they loan out, at unnecessarily high interest
rates, is created out of thin air.
The normally
privatization-minded Wall Street Journal admits that "The (publicly owned)
Bank of North Dakota's operating costs are extremely low -- no
exorbitantly-paid executives; no bonuses, fees, or commissions; only one branch
office; very low borrowing costs.."
Meanwhile, at privately owne d banks, interest payments by borrowers claim
one out of every three dollars that we spend, and by the time we retire with a
401(k), over half of our money is lost to the
banks.
Even worse, our
government, too, has to pay interest on every dollar it borrows, when it
borrows from the Federal Reserve or from anywhere else. Keep in mind that when investors worldwide
fail to buy all the Treasury bonds periodically offered for sale by the U.S. Treasury,
the Fed takes up the slack and buys whatever leftover bonds need to be
purchased, thus helping in a major way to provide our government with the
operating revenue it needs.
The main
problem with this is that we tax payers must
then pay interest on all these billions that our government borrows when its
Treasury Department sells these Treasury bonds. Note:Any government or corporate entity that sells
any kind of bond must of course pay interest to the bond-holder/investor. And at the present time, the total amount of
interest that we taxpayers must pay each year, on this huge indebtedness, exceeds
the amount paid in 2013, which was $228 billion. And, as the third-largest item on the federal
budget, that is, of course, billions that we taxpayers would not have to
pay out every year if America's central bank was not privately
owned but was instead owned by the government itself.
As to the
possibility of the government actually owning our central bank, please
understand that under the Constitution, Article I, Sec. 8, our government already
has the sovereign power, and the constitutional right, to issue money
and spend it into circulation, and, by this means, through a government-owned
central bank, to promote
the general welfare.
For example,
through the creation and repair of infrastructure, including human
infrastructure (i.e. health and education), our government could, by way of its
central bank, put those hundreds of billions of dollars to very good use
instead of blowing it on enormous interest payments every year. Instead, however, it lets private banks (i.e. banksters)
create our nation's money, much of which is then used to buy junk bonds
from banksters, who then use that money for speculation on derivatives, which
ultimately causes one crisis after another.
For this reason, our lawmakers must now reclaim the constitutionally
granted power to create the nation's money, to own and operate our nation's
central bank, and to use it to promote the general welfare, as conceived and
authorized by our founding fathers.
Money has
value because of skilled people, resources, and infrastructure, all working
together in a supportive social and legal framework. Money is the indispensable lubricant that
lets our system run as smoothly and efficiently as possible. Money is
not tangible wealth in itself, but mostly represents the potential to help generate wealth, when put to use (i.e.
invested) intelligently. Money is an
abstract social power based in law, and whatever it is that government accepts
in payment of taxes will eventually become spendable money. The only question is, who is ultimately
going to spend most of it, and on what are they going to spend it?
Unhappily,
mankind's experience with bankster-money-creation has been a long history of
fraud, mismanagement and villainy, and the present crisis, not yet over, is
among the worst yet, even as it gets ready to repeat itself.
Banking abuses
have long been pervasive and self-evident.
Major banks and corporations focus on abusing the money system instead
of focusing on how to help maximize production and the common welfare. Billions have been stolen, and trillions more have
been shamelessly grabbed in so-called bailouts! And instead of protecting our citizenry, most
of our top political leaders are facilitators of the banksters
who continue to rape America.
Bankster
money creation leads to an unprecedented concentration of wealth, which destroys the democratic process and promotes military
imperialism. The result:
A highly privileged 1% of our population now claims ownership of an
unprecedented 50% of the nation's total wealth.
Meanwhile crumbling infrastructure is ignored, growing millions who
could repair it remain unemployed and underemployed, and ever more of the
nation's children are poorly educated and neglected by parents too busy with
ever more hours of work, which their ever reduced wages require them to perform.
The American
Society of Civil Engineers gives a grade of D to our infrastructure and says it
will soon be a D-minus. It also
estimates that $2.2 trillion is needed over the next 5 years to bring our
nation's infrastructure back to the level of safety it provided 50 years ago. That fact alone shows the world's dominant
monetary system to be a major failure crying out for reform.
Infrastructure repair
could provide well-paid employment throughout the nation
There is a
pretense that government musteither borrow or tax to get the money for
such projects -- this in spite of the fact that it is well established that the
government can directly createthe money needed and spend
it into circulation for such projects, without having to borrow anything and
without inflationary results. And a properly
reformed monetary/banking system could generate all this new employment very
quickly!
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