The Beginning Of The End
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11 Reasons Why The Federal Reserve Should Be Abolished

The Federal ReserveIf the American people truly understood how the Federal Reserve system works and what it has done to us, they would be screaming for it to be abolished immediately.  It is a system that was designed by international bankers for the benefit of international bankers, and it is systematically impoverishing the American people.  The Federal Reserve system is the primary reason why our currency has declined in value by well over 95 percent and our national debt has gotten more than 5000 times larger over the past 100 years.  The Fed creates our "booms" and our "busts", and they have done an absolutely miserable job of managing our economy.  But why do we need a bunch of unelected private bankers to manage our economy and print our money for us in the first place?  Wouldn't our economy function much more efficiently if we allowed the free market to set interest rates?  And 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 why is the Federal Reserve doing it?  Sadly, this is the way it works all over the globe today.  In fact, all 187 nations that belong to the IMF have a central bank.  But the truth is that there are much better alternatives.  We just need to get people educated.

The following are 11 reasons why the Federal Reserve should be abolished...

#1 The Greatest Period Of Economic Growth In The History Of The United States Happened When There Was No Central Bank

Did you know that the greatest period of economic growth in U.S. history was between the Civil War and 1913?  And guess what?  That was a period when there was no central bank in the United States at all.  The following is from Wikipedia...

The Gilded Age saw the greatest period of economic growth in American history. After the short-lived panic of 1873, the economy recovered with the advent of hard money policies and industrialization. From 1869 to 1879, the US economy grew at a rate of 6.8% for real GDP and 4.5% for real GDP per capita, despite the panic of 1873.  The economy repeated this period of growth in the 1880s, in which the wealth of the nation grew at an annual rate of 3.8%, while the GDP was also doubled.

So if our greatest period of economic prosperity was during a time when there was no Federal Reserve, then why shouldn't we try such a system again?

#2 The Federal Reserve Is Systematically Destroying The Value Of The U.S. Dollar

The United States never had a persistent, ongoing problem with inflation until the Federal Reserve was created in 1913.

If you do not believe this, just check out the inflation chart in this article.

The Federal Reserve systematically penalizes those that try to save their money.  Inflation is a tax, and the value of each one of our dollars goes down a little bit more every single day.

But over time, it really adds up.  In fact, the value of the U.S. dollar has fallen by 83 percent since 1970.

Anyone that goes to the grocery store on a regular basis knows how painful inflation can be.  The following is a list that shows how prices for many of the things that we buy on a regular basis absolutely skyrocketed between 2002 and 2012...

Eggs: 73%

Coffee: 90%

Peanut Butter: 40%

Milk: 26%

A Loaf Of White Bread: 39%

Spaghetti And Macaroni: 44%

Orange Juice: 46%

Red Delicious Apples: 43%

Beer: 25%

Wine: 60%

Electricity: 42%

Margarine: 143%

Tomatoes: 22%

Turkey: 56%

Ground Beef: 61%

Chocolate Chip Cookies: 39%

Gasoline: 158%

Even the price of water has absolutely soared in recent years.  According to USA Today, water bills have actually tripled over the past 12 years in some areas of the country.

So how can the Federal Reserve get away with claiming that we are in a "low inflation" environment?

Well, what Ben Bernanke never tells you is that the way that the government calculates inflation has changed more than 20 times since 1978.

The truth is that the real rate of inflation is somewhere between five and ten percent right now, but you will never hear about this on the mainstream news.

#3 The Federal Reserve Is A Perpetual Debt Machine

The Federal Reserve system was designed to be a trap.  The intent of the bankers was to trap the U.S. government in an endless debt spiral from which it could never possibly escape.

But most Americans don't understand this.  In fact, most Americans don't even understand where money comes from.

If you don't believe this, just go out on the street and ask regular people where money comes from.  The responses will be something like this...

"Duh - I don't know.  I've got to get home to watch American Idol."

This is why it is so important to get people educated.  I think that most Americans would be horrified to learn that the creation of more money in our system also involves the creation of more debt.

The following is a summary of money creation that comes from one of my previous articles...

When the U.S. government decides that it wants to spend another billion dollars that it does not have, it does not print up a billion dollars.

Rather, the U.S. government creates a bunch of U.S. Treasury bonds (debt) and takes them over to the Federal Reserve.

The Federal Reserve creates a billion dollars out of thin air and exchanges them for the U.S. Treasury bonds.

So what does the Federal Reserve do with those Treasury bonds?  I went on to explain what happens...

The U.S. Treasury bonds that the Federal Reserve receives in exchange for the money it has created out of nothing are auctioned off through the Federal Reserve system.

But wait.

There is a problem.

Because the U.S. government must pay interest on the Treasury bonds, the amount of debt that has been created by this transaction is greater than the amount of money that has been created.

So where will the U.S. government get the money to pay that debt?

Well, the theory is that we can get money to circulate through the economy really, really fast and tax it at a high enough rate that the government will be able to collect enough taxes to pay the debt.

But that never actually happens, does it?

And the creators of the Federal Reserve understood this as well.  They understood that the U.S. government would not have enough money to both run the government and service the national debt.  They knew that the U.S. government would have to keep borrowing even more money in an attempt to keep up with the game.

Men like Thomas Edison and Henry Ford could not understand why we would adopt such a foolish system.  For example, Thomas Edison was once quoted in the New York Times as saying the following...

That is to say, under the old way any time we wish to add to the national wealth we are compelled to add to the national debt.

Now, that is what Henry Ford wants to prevent. He thinks it is stupid, and so do I, that for the loan of $30,000,000 of their own money the people of the United States should be compelled to pay $66,000,000 — that is what it amounts to, with interest. People who will not turn a shovelful of dirt nor contribute a pound of material will collect more money from the United States than will the people who supply the material and do the work. That is the terrible thing about interest. In all our great bond issues the interest is always greater than the principal. All of the great public works cost more than twice the actual cost, on that account. Under the present system of doing business we simply add 120 to 150 per cent, to the stated cost.

But here is the point: If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good.

Unfortunately, today most Americans don't even understand how the system works.  They just assume that we have the best system in the entire world.

Sadly, the reality is that the system is working just as the international bankers that designed it had hoped.  The United States has the largest national debt in the history of the world, and we are stealing more than 100 million dollars from our children and our grandchildren every single hour of every single day in a desperate attempt to keep the debt spiral going.

#4 The Federal Reserve Is A Centrally-Planned Financial System That Is The Antithesis Of What A Free Market System Should Be

Why do we need someone to centrally-plan our financial system?

Isn't that the kind of thing they do in communist China?

Why do we need someone to tell us what interest rates are going to be?

Why do we need someone to determine what "the target rate of inflation" should be?

If we actually had a free market system, the free market would be the one "managing" our economy.

But instead, we have become so accustomed to central planning that any alternatives seem to be absolutely unthinkable.

For example, CNBC cannot possibly imagine a world where the Fed (or some similar institution) was not running things...

But suppose the law were taken off the books? The Fed's job—in simple terms—is to manage the nation's money supply and achieve the sometimes-conflicting tasks of full employment, stable prices while fighting inflation or deflation.

How would the U.S. economy then function? Something has to take its place, right?

Global markets would also need some sort of economic direction from the U.S. The Fed manages the dollar — and as the world's leading currency, a void left by a Fed-less America could throw those markets into chaos with uncertainty about who's managing U.S. interest rates and the American economy.

I've got an idea - let's let the free market "manage" U.S. interest rates and the American economy.

I know, it's a crazy idea, but I have a sneaking suspicion that it just might work beautifully.

#5 The Federal Reserve Creates Bubbles And Busts

Do you remember the Dotcom bubble?

Or what about the housing bubble?

By dramatically distorting interest rates and financial behavior, the Federal Reserve creates economic bubbles and the corresponding economic busts.

And guess what?

Now it is happening again.

When will the American people decide that they have had enough?

If you can believe it, there have been 10 different economic recessions since 1950.  And of course the Federal Reserve even admits that it helped create the Great Depression of the 1930s.

Perhaps it is time to try something different.

#6 The Federal Reserve Is Privately Owned

It has been said that the Federal Reserve is about as "federal" as Federal Express is.

Most Americans still believe that the Federal Reserve is a "federal agency", but that is simply not true.  The following comes from factcheck.org...

The stockholders in the 12 regional Federal Reserve Banks are the privately owned banks that fall under the Federal Reserve System. These include all national banks (chartered by the federal government) and those state-chartered banks that wish to join and meet certain requirements. About 38 percent of the nation’s more than 8,000 banks are members of the system, and thus own the Fed banks.

And even the Federal Reserve itself has argued that it is "not an agency" of the federal government in court.

So why is there still so much confusion about this?

We should not be allowing a private entity that is owned and dominated by the banks to make decisions that dramatically affect the daily lives of all the rest of us.

#7 The Federal Reserve Greatly Favors The "Too Big To Fail" Banks

Since the Federal Reserve is owned by the banks, should we be surprised that it serves the interests of the banks?

In particular, the Fed has been extremely good to the "too big to fail" banks.

Over the past several decades, those banks have grown tremendously in both size and power.

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.

#8 The Federal Reserve Gives Secret Bailouts To Their Friends

The Federal Reserve is the only institution in America that can print money out of thin air and loan it to their friends any time they want to.

For example, did you know that the Federal Reserve made 16 trillion dollars in secret loans to their friends during the last financial crisis?

The following list is taken directly from page 131 of a GAO audit report, and it shows which banks received secret loans from the Fed...

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

If you will notice, a number of the banks listed above are foreign banks.

Why is the Fed allowed to print money out of thin air and lend it to foreign banks?

#9 The Federal Reserve Is Paying Banks Not To Lend Money

Did you know that the Federal Reserve is actually paying U.S. banks not to lend money?

That doesn't make sense.  Our economy is based on credit, and small businesses desperately need loans in order to operate.

But the Fed has decided to pay banks not to risk their money.  Section 128 of the Emergency Economic Stabilization Act of 2008 allows the Federal Reserve to pay interest on "excess reserves" that U.S. banks park at the Fed.

So the big banks can just send their cash to the Fed and watch the money come rolling in risk-free.

As the chart below demonstrates, the banks have taken great advantage of this tremendous deal...

Excess Reserves Parked At The Federal Reserve

#10 The Federal Reserve Has An Astounding Track Record Of Failure

Over the past ten years, the Federal Reserve has been an abysmal failure when it comes to running the economy.

But despite a track record of failure that would make the Chicago Cubs look like a roaring success, Barack Obama actually decided to nominate Ben Bernanke for a second term as the Chairman of the Federal Reserve.

What a mistake.

Just check out some of the things that Bernanke said prior to the last financial crisis.  The following is an extended excerpt from an article that I published previously...

*****

In 2005, Bernanke said that we shouldn't worry because housing prices had never declined on a nationwide basis before and he said that he believed that the U.S. would continue to experience close to "full employment"....

"We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s gonna drive the economy too far from its full employment path, though."

In 2005, Bernanke also said that he believed that derivatives were perfectly safe and posed no danger to financial markets....

"With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly."

In 2006, Bernanke said that housing prices would probably keep rising....

"Housing markets are cooling a bit. Our expectation is that the decline in activity or the slowing in activity will be moderate, that house prices will probably continue to rise."

In 2007, Bernanke insisted that there was not a problem with subprime mortgages....

"At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained. In particular, mortgages to prime borrowers and fixed-rate mortgages to all classes of borrowers continue to perform well, with low rates of delinquency."

In 2008, Bernanke said that a recession was not coming....

"The Federal Reserve is not currently forecasting a recession."

A few months before Fannie Mae and Freddie Mac collapsed, Bernanke insisted that they were totally secure....

"The GSEs are adequately capitalized. They are in no danger of failing."

*****

There are many, many more examples that could be listed, but hopefully you get the point.

And now it is happening again.  Bernanke is telling the American people that everything is going to be just fine and that no major problems are ahead.

Do you believe him this time?

#11 The Federal Reserve Is Unaccountable To The American People

What is the most important political issue to most Americans?

Survey after survey has shown that the American people care about the economy more than anything else.

So why do we allow an unelected, unaccountable entity that is privately-owned to make our economic decisions for us?

The Federal Reserve has become so powerful that it has been called "the fourth branch of government".  Every four years, presidential candidates argue about who will be best at managing the economy, but the truth is that it is the Fed that manages our economy.

We are told that the "independence" of the Federal Reserve is absolutely critical, but don't the American people deserve to have a say in the running of the economy?

Our system is broken.  It is a system that will continue to create more bubbles and more debt until the entire thing finally collapses for good.

Thomas Jefferson once stated that if he could add just one more amendment to the U.S. Constitution it would be a ban on all government borrowing....

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.

But instead of banning government borrowing, we have allowed ourselves to become enslaved to a system where government borrowing actually creates our money.

We do not need to have a central bank.  There are much better alternatives.  We just need to get people educated.

Please share this article with as many people as you possibly can.  These are things that every American should know about the Fed, and we need to educate the American people about the Federal Reserve while there is still time.

The Great Seal Of The United States - A Symbol Of Your Enslavement - Photo by Ipankonin

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  • JAH666

    I’m with you Michael, on all these points and I agree that the Fed should be abolished, but does any thinking person honestly believe that the Fed and their slaves in the government would allow that to happen? The Fed was set up in secret one hundred years ago with the intent to achieve EXACTLY what has been achieved: total control of the US economy. “Power is an end not a means, Winston.” 1984

  • Smith

    My generation (1980s-2000s) are definitely in the rich-poor caste system of America. The kids with rich parents and connections are at an advantage to the kids with poor parents. Owning a house is expensive and food prices rise yet the government says inflation is low. What kind of Obamanomics is being used to fool the masses?

    • https://www.facebook.com/beth.s.owens1?ref=tn_tnmn Beth

      Bingo!!! I never though of it like a caste system but you’re right. For a large part though, what is deemed rich is merely a grande illusion of pretense.

  • MichaelfromTheEconomicCollapse

    If you enjoy these kinds of articles, then I hope that everyone will help support my work by spreading the word about my new novel entitled “The Beginning Of The End”. It is set in the United States in the near future, and I have tried to portray what life will be like as the economy collapses…

    http://www.amazon.com/gp/product/B00CNKRHRE/ref=as_li_ss_tl?ie=UTF8&camp=1789&creative=390957&creativeASIN=B00CNKRHRE&linkCode=as2&tag=theeconomiccollapse-20

    Michael

    • maby

      there is an spanish version?

    • markthetruth

      YEP Trust Your Leaders !
      Do as they Say not as they Do !

      Air Force Chief of Sexual-Assault Prevention Arrested on Sexual Battery Charges.

      the end…

      • seth datta

        The chief obviously had the necessary experience for his job

  • none

    GOOD NEWS: Micheal.

    Freedom of the press is back!

    I just found out how the Boston Bomb makers, got the instructions for doing this off the internet!

    The on line magazine is called “Inspire”. It is an Al-kita magazine written in the English version.

    Isn’t that nice of the government not to sensor these foreign publications, like they do the U.S.?

    • Drew

      I sense a hint of pro-fight-war-in-middle-east-because-they-have-terrrorists-and-killlling-to-prevent-deaths-is-the-new-America.

      Nice try “None” . The Boston attacks isn’t even in the author’s main points.

      Next on American security: TSA checkpoints in the digestive tract of Americans to prevent gas weapons. Monsanto sues millions of Americans for having patented GMOs in their digestive tract and gut flora.

      • none

        Notice: The newspapaers haven’t even mentioned this!
        They do not point out that the Obama administration does not enforce the law regaurding “deceminating information” on how to make bombs?

  • markthetruth

    Abolish ” WALL STREET ” it does not create any thing except Greed,Corruption,Two Faced Analyst (buy sell crap),Insider Trading, And Banks Playing with our Hard Earned Money,and is not a gauge for anything except a Ponzi Scheme Buy stock directly though a company you trust . No need for a middle man.

    the end…

    • Kyle

      Okay then. With you’re Liberal logic let’s have you’re way.

      So if you run a big business making lots of money 500,000 a year I have a right then to steal 20 percent off you’re money even if I do not work and live in a cardboard box not contributing to society.

      I actually like you’re logic as global taxes will benefit me as I do not need a job to earn money.

  • K

    Yeah, getting rid of the Fed, not going to happen. It should happen, but not with the way this Country is. People think there is a long list of things, they can not handle. They have financial advisors, tax advisors, nutritional advisors, weight loss coaches, weight gain coaches, psychiatrists, counselors, doggie behavioral advisors, wedding planners, party planners. I am afraid to look, is their a position for a coach, who tells you when to breath in and out? All I know is in 2008, people who were with large brokerage houses, seemed to lose big. People who invested for themselves lost less. The Fed like any large firm, takes care of themselves first, and the client second.

  • Stezie

    Like it or not, the Federal Reserve is at the heart of most of the economic woes facing the US. Endless borrowing and money printing will result in massive inflation, and interest rates cannot stay low (or, in the case of the Federal Reserve, very low) forever. Furthermore, the Federal Reserve knows very well that there is no recovery, and is simply “stimulating” the economy with funny money in an attempt to stave off the coming economic crisis as long as it can. How long it will be able to do so is anybody’s guess.

    On another note, I just bought and partially read Michael’s new book, “The Beginning of the End”. I must say, it’s pretty good so far, and quite prophetic given what we are currently witnessing. Sadly, most of the stuff described in his book may very well become reality, later if not sooner.

    • MichaelfromTheEconomicCollapse

      Stezie:

      It is very good to hear that you are enjoying it. :)

      And I did try to portray what I think America is going to look like in the future. So it is a fictional book, but I tried to communicate a lot of truth at the same time.

      Michael

      • Syrin

        Is it a depressing read along the lines of the movie “On the Beach”? If so, I’ll pass, because my vision of the future is not pretty at all, and I prefer to keep my spirits up.

        • Kyle

          Yeah.

          It has been proven thru Quantum Physics that our thoughts create small energy fields around us and getting into negative ones will increase it 2X so it’s best to just not go there.

          Several subatomic particle tests have proven our energy fields can change the outcome but the MSM will refuse to report on it until it is too late.

          MSM science is VERY controlled in what is released and when it is released at their convenience.

          When MSM releases a scientific discovery it is because they felt it was time for it to be released as the military black ops have moved on to higher things.

    • seth datta

      Sin is first and foremost the cause of the world’s woes. Whether you believe in religion like I do or whether you’re an aethist, this is one true fact, i guarantee you.

  • Tim

    I’ve been inside the Federal Reserve Bank of Pittsburgh (a branch of the Cleveland Bank) a couple of times to do audit work. Each time we went, we were there for a week. Security was very heavy. On the first day of our first visit (2005), we were given a tour of the bank. There were automated machines (kind of like forklifts) moving pallets of Federal Reserve Notes around. I couldn’t get close enough to a pallet to see what denomination the FRNs were. But there was probably millions of dollars there on that day. I also remember that in the room where they kept the card stock used to print U.S. Savings Bonds, there were numerous cameras on the ceiling all pointed at that stock. The rank and file employees at the bank didn’t even have cubicles. They sat at tables with computers and performed their monotonous duties all day long.

    I kind of miss the days when I traveled around the country and met people in “high places.” But I have no desire to return to the District of Corruption (DC) that gets more corrupt each day.

  • saintmatty

    As Aerosmith would say,”Dream On.”

  • Das

    When you really break it down to its core, my dollar is just paper, my gold is just a paper weight, and my stocks are a number on my computer screen. My land, food, and h2o, are mine ( and yours) most valuable asset. Along with a strong group of like minded people, these will be be things that will make a poor man rich.

  • Richard

    ” Sadly, this is the way it works all over the globe today”
    The central bankers don’t look so sad to me. So if it really DOES work SADLY over the globe, you definitely know something I don’t.

  • Richard

    “Sadly, the reality is that the system is working just as the international bankers that designed it had hoped.”
    I wasn’t aware that systems had emotions. Does the system sometimes work happily or does it always tend to work ‘sadly’?

  • Richard

    “If you can believe it, there have been 10 different economic recessions since 1950.”
    I cannot believe it. Does that mean there have NOT been10 different economic recessions since 1950?

  • Richard

    Despite my stylistic quibbles below (or above), this is a fantastic article, Michael. It should be required reading by every American citizen ten times over (children included) before sundown tomorrow night. Well done.

  • Rony

    If there is anything that i like to do, it is to read a book that keeps me interested enough that i can not put it down. Congrats Michael, I bought it this morning And finished it about 1hour ago.

    • MichaelfromTheEconomicCollapse

      Rony:

      That is so encouraging to hear. This was my first novel, so I did a lot of rewriting on it until I felt that it was ready. But until people actually start reading it you never know how it will be received.

      And I would love to hear any feedback that anyone out there has about the book. Please feel free to email me at TheEconomicCollapseBlog at Hotmail.com

      Michael

  • Ralfine

    #1 The Greatest Period Of Economic Growth In The History Of The United States Happened When There Was No Central Bank

    The greatest economic growth in China happened with a strong central bank in place.

    So, the presence or absence of a central bank alone cannot be the cause of success?

    • Greg

      True but when the #1 economy (USA) gives China our economic base on a sliver platter, their central bank just had to keep up with the explosive rise in their economy. Today, China’s central bank is printing too.

  • Ralfine

    Economic growth is fuelled by entrepreneurs who invest in industrialization.
    There aren’t such people in America any more.

    At the end of the 19th century the new technologies were the railway, the motor car, electricity and the telephone.

    Right now there are the Internet, renewable energy, and new materials, among other things.

    If you wanted to invest, would you invest in industrialization and new technology or buy gold? Ask yourself.

    And why should other people be different?

  • Ralfine

    There are people out there that invest in new technology, and they need money.

    Maybe crowd-funding could be a solution.

    What’s crowd-funding?

    In the 1990s, when someone wanted to open a new bar in Hong Kong, he could do so all by himself. Or he went to ask his friends, if they would chip in $10, or $50, or $100 each. That way, when everything went downhill, no single person would lose too much, and when everything went well, they got a few cents from the profits. And there wasn’t a need to go via the stock exchange with all those rules.

    With the Internet and Paypal, you could extend that crowd all over the place.

  • Ralfine

    Just saw a documentary about exploding pig farms in America.

    What they all have in common is that they collect the manure below the pig sty. The methane gets trapped somehow, the exhaust ventilators malfunction, and the methane accumulates in the sewage bunker and the pigsty itself.

    The easiest solution would be to build a separate tank for all the manure, away from the pigsty.

    And the next step could be to collect all the methane and store it in a separate tank and compress it and use the methane for cooking and lighting, or even as liquid gas in combustion motors, like tractors. That’s what they do in China and the Philippines.
    Or put all the generated gas into the central gas pipeline that transports the gas to where someone would need it and pay for it. That’s how they do it in Germany.

    In that documentary nobody was thinking about that. They tried to build fireproof pigsties, and if that didn’t work, or made them bancrupt, they gave up breeding pigs, with the result of raising pork prices.

  • Ralfine

    Well, here I have a question that might seem strange.

    Who owns the infrastructure?

    I would assume, the state goes and prints money to pay the suppliers for making the infrastructure. For that money they get the infrastructure. That means, the state owns the infrastructure.

    The more infrastructure they want, the more money they issue. That money can then be used by the suppliers to pay for their suppliers etc.

    Or the state borrows money to pay for the infrastructure. Then that infrastructure belongs to the bank, until the state paid for that loan.

    That money comes from tax.

    So, does the taxpayer now own that infrastructure?

    Do this exercise with “defense equipment” instead of “infrastructure”.

    Who can issue money in America?

    If the population is rising, and everybody wants to have the same living standard – just the same, not even getting richer – then the money in circulation needs to increase. Where does this come from?

    How is money increased, if the state does not issue money, but just borrows everything from the future?

    Lets say, there is no investment by the state, and no money is borrowed. Where does the farmer get the money from to pay for the seeds?

    OK, he can sell veggies, but then, where does his buyer get the money from?

    Wages?

    Wages are a part of the price paid for goods and services.

    The sum of the wages should be the same as the sum of prices? Otherwise, who would buy these goods?

    Now add one person in need of wages. Should he produce more than he gets in wages? If yes, who would buy that? Is there some destruction needed?

  • Nexusfast123

    The debt system has destroyed us all so a few can accrue wealth that is grossly excessive. The financial system will collapse.

    • seth datta

      The gross income inequality where the bottom 50% of the population own only 2.5% of the wealth (google it) shows that the system is primed for a collapse soon. But the money chargers will manipulate it so, that it will be a collapse in slow motion. And as people slowly become poorer over the next ten years, unfortunately, by the time they realise the fraud being perpetuated onto them, it will be too late.

  • hungry4food

    Economic oppression is and has been used over these past 100 years of the federal reserve to effect supply and demand to create ways to control population growth in the world and the Governments are hiding behind this institution as this tool is used in unison with technology development along the way .

  • karryokie

    These bloodsuckers have been ravaging the people ever since Jesus left us after they murdered him when he chased them from the TEMPLE.No wonder they are called wanderers.They have to wander once the populace catches on to them.

    • jeremy

      well, at least ONE other person besides me gets it

    • Landon

      Blaming it on the Jews fail…

  • http://twitter.com/StanleyHutchins Stanley Hutchinson

    This country was built on “no taxation without representation”, so every time the Fed Reserve Private Bankers print money and create “inflation” it’s taxation. Inflation is taxation without representation, therefore they deserve to be removed from government. Alan Greenspan and Ben Bernanke are pundits of this print philosophy to tax the American people. The Fed Res. Act was created in 1913 along with IRS, which is the Interest TAX we pay for them to issue this credit fractional reserve lending money. That act Lease was good for 99 years, so it expired 2012 Dec. 31st. By law neither the IRS nor Fed. Res act have any authority Jan 1. 2013.

  • Louande

    The question is not why do we need a bunch of unelected private banker to run our economy? The question is why do we have a bunch of unelected private bankers to run our economy? Read the essay by Woodrow Wilson when he was a professor (1880′s) on Administration. He thought everything would run better if we had experts (scientists, he called them) immune from political pressure running every aspect of the government. What his feeble brain could not understand is that these so called experts or scientists would become corrupt and entrenched. We now have Al Capone types running the regulatory agencies, and they are there to stay because, as Franklyn Roosevelt found out, you can not fire them except for fraud or incompetence. There is no such thing as fraud and incompetence when those that would be accused of either are the ones writing the regulations.

  • http://www.facebook.com/daniel.gallotti Daniel Gallotti

    Without the FED the jews can’t control Amerikwa.

  • http://twitter.com/FrankHollenbeck Frank Hollenbeck

    Central bank’s are the essence of evil. If you go to church this Sunday you should tell your preacher to identify the world’s greatest evil, central banks. They are what I call a reverse robin hood. They take from the poor and wage earners to give to the rich. The reason is that the rich are the early receivers of FED money while the poor and wage earners are the late receivers of the FED’s counterfeiting activity, something we normally require jail time for anyone else.

  • Faithkills

    Thomas Sowell, when asked if the Fed was done away with what would replace it?:

    “When someone removes a cancer, what do you replace it with?”

    The question answers itself. I absolutely agree the fed should be shutterred, but I get a whiff of greenbackery from this article.

    The system is bad, but the fix isn’t changing who controls it, ie handing it over to the treasury. The system needs to end, forever. The government should raise revenue honestly and from the generation it presently ‘serves’ through taxation only.

    Debt shifts the burden onto the unborn, (well no longer)

    Inflation is hidden and hits the poor hardest as more of their income MUST be spent so the velocity of money is high in those staples.

    All revenue should come from taxes so the people who ‘benefit’ from government pay the bill and who and how much is paid is clearly visible.

    The government is just like health care. Since people don’t see how much the bill is, they tend not to care, and thus bloat accumulates. To the extent a representative government can work the voters must be able to at least PERCEIVE the reality of what they are voting on. The ability to hide costs by revenue via debt and inflation prevents that perception. Therefore voters have no real choice.

  • Kyle

    She should’ve fled to another state or country and maybe rent a vehicle so they (The FBI) would have a harder time following.

    There are actually many things you can do to lose the trail of the government.

    I don’t think she was trying very hard to throw the FBI off her trail because any normal person would automatically hide such as in trees or a parking garage at a shopping mall
    if they saw they were being followed by a black helicopter.

  • nyran125tk

    yep I agree, the federal bank needs to go and Wall Street needs to be regulated and Golden Sach type companys abolished. The government SHOULD be controlling the federal reserve and overseeing EVERYTHING that goes on. Bail outs of buddies of people in the federal reserve bank should be in a court of law and held accountable for corruption.

    the whole system is corrupt.

    WE also need to stop referring to companys like Individual people to, this is a big mistake the people IN the companys/Corporations should be accountable for everything that goes on.

    Secondly inflation is a joke, its not working and im not even sure it was ever meant to work.

  • le

    so… give us the list of “bank’s” that are not in The SYSTEM. So we can do business with honest people.

  • Truth_Seeker

    The bottom Line is every country in the world is on a “Central Bank System” now. If you Research this Matter President Abraham Lincoln was murdered because he printed money to finance the war instead of paying 36% interest to the bankers. This made the bankers nervous because if what Lincoln did allowed our country to be debt free other countries would follow..So Lincoln had to be eliminated and so was the money he printed. John F Kennedy signed a bill that was going to eliminate the Federal Reserve and John F Kennedy printed Silver Certificates, which were by the way recalled the second after the bankers had JFK Murdered. Senator Louis T McFadden was murdered because he fought tooth and nail against the Federal Reserve. Anyone who goes after this System will pretty much be Silenced in one way or another.
    They know that they have us in the palm of their hands.
    The only way it’s ever going to be fixed is if EVERYONE just stops and says NO MORE. Let’s face it we know that out of fear mostly and out of people selling out to the bankers that
    ALL the people saying NO MORE may never happen. The same elite bastards (families) have been running the world since recorded history and even before that.

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