Central banking, and private government loans were addressed a previous case for Canada. Also, the COMER Case 2011-2018, (Committee on Monetary and Economic Reform) was outlined.
This article covers a similar topic, but the American experience, with their Federal Reserve. We will detail an organization called “End The Fed”, which is dedicated to ending this practice.
This is what happens when you:
Stop backing your currency by gold
Allow a private bank to generate currency
Surrender your debt to outside interests
But hey, it regulates interest and inflation. It is good for consumers, so we are told.
1. More On International Banking Cartel
CLICK HERE, for IBC #1: Restoring 1934 Bank of Canada Act. CLICK HERE, for IBC #2: Rocco Galati, COMER case.
2. Important Links
CLICK HERE, for endthefed.org. CLICK HERE, for endthefed.org recommended websites. CLICK HERE, for Federal Reserve Act. CLICK HERE, for fractional banking. CLICK HERE, for fractional reserves. CLICK HERE, for a disclosure lawsuit against the Federal Reserve. Spoiler: It’s a private entity. CLICK HERE, for verdict forcing Federal Reserve to disclose who it has been financially bailing out. CLICK HERE, for US Federal debt by year. CLICK HERE, for an article on Fed background. CLICK HERE, for who owns the Federal Reserve.
3. What Is “End The Fed”?
This is a website posted to make people aware of the Federal Reserve. It contains links to books, videos, documentaries, websites, and other information.
The Federal Reserve, “the Fed”, is the central bank of the United States of America that was created in 1913 by Congress. It is a banking cartel that has a government-granted monopoly on the creation of money and credit. The Fed literally loans “money” (Federal Reserve Notes) into existence. Federal Reserve Notes are paper promises backed by nothing of intrinsic value and they are only functioning as money because the government forces them on the public through legal tender laws. Federal Reserve Notes are referred to as dollars but are not. The definition of a dollar is a weight of silver (371 grains). To put it simply, the Fed is a group of banks running a national counterfeiting operation with the protection of the government.
Why Should I Care?
Because you’re being systematically robbed and enslaved. The Fed’s counterfeiting causes the price of goods and services to rise which requires you to work harder in order to purchase them. Even with all the technological advances over the last century, you have to work just as hard or even harder to survive. The Fed is siphoning off the productivity that should have come from those technological advances. The reality is that you are working overtime solely for the benefit of some bankers who the government gave the power to conjure money out of nothing. In addition, the Fed’s counterfeiting finances the tools of the government’s oppression over you: the militarization of the police, the surveillance apparatus, and the endless wars.
If you cherish truth, freedom, justice, and want to leave behind a better world for your loved ones then you must…END THE FED! A free market, where each individual has the freedom to choose what form of money to use rather than one being forced on them, must be allowed to function in its place.
End The Fed is basically a reference site, which connects you to many great tools and resources. It is well worth spending time here. Even those who are Canadian can benefit from it, as many of the same issues the US faces also impact Canada.
4. Quotes From Federal Reserve Act
(From page 15 of 112)
DIVISION OF EARNINGS. SEC. 7. (a) DIVIDENDS AND SURPLUS FUNDS OF RESERVE BANKS.— (1) STOCKHOLDER DIVIDENDS.—
(A) DIVIDEND AMOUNT.—After all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders of the bank shall be entitled to receive an annual dividend on paid-in capital stock of—
(i) in the case of a stockholder with total consolidated assets of more than $10,000,000,000, the smaller of—
(I) the rate equal to the high yield of the 10 year Treasury note auctioned at the last auction held prior to the payment of such dividend; and
(II) 6 percent; and
(ii) in the case of a stockholder with total consolidated assets of $10,000,000,000 or less, 6 percent.
(B) DIVIDEND CUMULATIVE.—The entitlement to dividends under subparagraph (A) shall be cumulative.
(C) INFLATION ADJUSTMENT.—The Board of Governors of the Federal Reserve System shall annually adjust the dollar amounts of total consolidated assets specified under subparagraph (A) to reflect the change in the Gross Domestic Product Price Index, published by the Bureau of Economic Analysis
So, if you are a stockholder in the Federal Reserve, you are guaranteed at least 6% interest on your “investment”. Talk about predatory lending.
Now, if you think that participating in this system is voluntary for banks, think again. This is from Section 2, Part 5 of the Act:
5. Failure of national bank to accept terms of Act¿ Any national bank failing to signify its acceptance of the terms of this Act within the sixty days aforesaid, shall cease to act as a reserve agent, upon thirty days’ notice, to be given within the discretion of the said organization committee or of the Board of Governors of the Federal Reserve System.
6. Penalty for violation of Act by national banks¿ Should any national banking association in the United States now organized fail within one year after the passage of this Act to become a member bank or fail to comply with any of the provisions of this Act applicable thereto, all of the rights, privileges, and franchises of such association granted to it under the national-bank Act, or under the provisions of this Act, shall be thereby forfeited. Any noncompliance with or violation of this Act shall, however, be determined and adjudged by any court of the United States of competent jurisdiction in a suit brought for that purpose in the district or territory in which such bank is located, under direction of the Board of Governors of the Federal Reserve System, by the Comptroller of the Currency in his own name before the association shall be declared dissolved. In cases of such noncompliance or violation, other than the failure to become a member bank under the provisions of this Act, every director who participated in or assented to the same shall be held liable in his personal or individual capacity for all damages which said bank, its shareholders, or any other person shall have sustained in consequence of such violation
Banks don’t have the choice to “opt-out”. They are in if they want to be in this industry.
Logic dictates that the ideal form of money should be durable, divisible, portable, fungible, scarce, and in demand for purposes other than a medium of exchange. Market supply and demand dynamics demonstrate that precious metals, specifically gold and silver, meet these criteria better than any other good. Many people voluntarily chose to use gold or silver as money throughout history for this reason.
So who has the power to create fiat currency? The answer is central banks. Central banks are banking cartels that have a “government” granted monopoly on the creation of fiat currency. In the United States, it’s the Federal Reserve System (the Fed). In the United Kingdom, it’s the Bank of England (the BoE). In Europe, it’s the European Central Bank (the ECB). In Japan, it’s the Bank of Japan (the BoJ). The model is the same across the world. Central banks loan fiat currency (Federal Reserve Notes, Pounds, Euros, Yen, etc) into existence. These fiat currencies often bear the name of money, such as the Federal Reserve Note bearing the word “dollar” (which is by definition a weight of silver), but they are not money. To put it simply, central banks run “legalized” counterfeiting operations with the protection and enforcement of “government.” Counterfeiting is theft because it steals purchasing power from the current holders of the currency or money and transfers it to the counterfeiter. The Fed has stolen approximately 95% of the purchasing power from the users of the Federal Reserve Note since its creation in 1913 and other central banks have similar track records. Unfortunately, that’s just the tip of the iceberg. Central banks use their counterfeiting rackets to rig interest rates, bailout their cronies, fund the welfare state, fund the police state, fund the warfare state, create asset booms and busts, and stifle economic growth. You pay for all of this through lost purchasing power, whether you want to or not.
This artificial system of creating money sets up a system where the only way to pay off existing debt is to use a substantial portion of your currency.
Now, since you have used up a significant amount of your currency making debt payments, a nation now finds itself short on currency to pay for the needs of its people. How do you solve that problem? Answer, by borrowing more. This system creates a dependency where the only solution is to borrow more to pay off existing debts.
6. Fractional Reserve Banking
US banks are not required to holdanywhere near the amount of money they are lending out. They are allowed to only hold a fraction of it, hence the name “fractional banking”.
In 2016, the minimum reserves required were:
In the United States, the reserves are held in the bank’s vault or the nearest Federal Reserve Bank. The Board of Governors of the Fed set the reserve requirements and use it as one of the tools of guiding monetary policy. As at January 2016, commercial banks with deposits of less than $15.2 million were not required to maintain reserves. Banks with deposits valued at $15.2 million to $110.2 million were required to maintain the reserve requirement at 3% while those with more than $100.2 million in deposits were required to keep a reserve requirement of 10%. The Garn-St. Germain Act of 1982 exempted the first $2 million of reserve liabilities from the reserve requirements.
Bank Deposit Total
$15.2M to $100.2M
Let’s take a look at it. If you own a US bank, you can claim $15.2 million in deposits without actually having any. Your bank can be worth billions, and you will only be required to hold 10% of the total amount.
Lending out potentially 10 times the money that you actually have sounds absurd, yet it is entirely legal. Of course this is completely unsustainable.
-Trump added $3T to national debt (~15%)
-Barack Obama added almost $10T to the national debt (~50%)
-Bush Jr. added $4T (~20%)
-Clinton added $1.6T (~8%)
-Bush Sr. added $1.3T (~6.5%)
-Reagan added $1.7T (~9%)
-National debt broke $1T in 1981. More than 95% of national debt has come “after” that benchmark.
Each of the twelve Federal Reserve Banks is organized into a corporation whose shares are sold to the commercial banks and thrifts operating within the Bank’s district. Shareholders elect six of the nine the board of directors for their regional Federal Reserve Bank as well as its president. Mullins reported that the top eight stockholders of the New York Fed were, in order from largest to smallest as of 1983, Citibank, Chase Manhatten, Morgan Guaranty Trust, Chemical Bank, Manufacturers Hanover Trust, Bankers Trust Company, National Bank of North America, and the Bank of New York (Mullins, p. 179). Together, these banks owned about 63 percent of the New York Fed’s outstanding stock. Mullins then showed that many of these banks are owned by about a dozen European banking organizations, mostly British, and most notably the Rothschild banking dynasty. Through their American agents they are able to select the board of directors for the New York Fed and to direct U.S. monetary policy. Mullins explained,
‘… The most powerful men in the United States were themselves answerable to another power, a foreign power, and a power which had been steadfastly seeking to extend its control over the young republic since its very inception. The power was the financial power of England, centered in the London Branch of the House of Rothschild. The fact was that in 1910, the United States was for all practical purposes being ruled from England, and so it is today’ (Mullins, p. 47-48).
Admittedly, this is difficult to confirm, since the Federal Reserve tries to keep its ownership secret.
9. Conspiracy Theory: JFK’s Assassination Tied To Federal Reserve
There has long been a theory that former US President John F. Kennedy was murdered because of his opposition to the Federal Reserve. Look up “Executive Order 11110”.
Was Kennedy killed for wanting to stop this scam? I don’t know, but it is possible. It certainly was lucrative to the stockholders of the Federal Reserve.
10. System Will Collapse
As should be apparent, this system is not sustainable in the slightest.
This Federal Reserve is a bank creating its own money, and then lending it out, with interest. Note: “shareholders” are to receive a minimum of 6% return on their investments annually.
Banks operate on a “fractional reserve” system, meaning they only need to keep a portion of the actual money they claim to have on hand. Even for the biggest banks, this is capped at 10%. The same money can in fact be loaned out multiple times, since there is no requirement no have much of it on hand.
In order to finance this system, the US Government adds to its debt, year after year. This is debt that will never be paid back. The only way the US can “service the debt” is by continued economic growth. Of course, this is not possible. The dollar “used” to be backed by gold, but that is no longer the case.
The “debt ceiling” will continue to be raised, since no President or member of Congress wants to see it collapse on their watch.