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14 Reasons Why We Should Nationalize The Federal Reserve

One of the most important steps that we could take to bring prosperity back to America would be to nationalize the Federal Reserve.  Doing so would allow the federal government to quit borrowing money, dramatically reduce taxes and eventually pay off the entire U.S. national debt.  Instead of inheriting the largest debt in the history of the world, future generations would actually have a chance at economic prosperity because they would not be forced to pay off the horrific debt of previous generations.  The Federal Reserve is a perpetual debt machine, it has almost completely destroyed the value of the U.S. dollar and it has an absolutely nightmarish track record of incompetence.  There are no good reasons to keep the status quo.  Our current debt-based monetary system will inevitably lead to a complete and total economic collapse.  We desperately need to make a change while we still can.  As you will see below, there are a ton of good reasons why we should nationalize the Federal Reserve.

Right now, most Americans believe that the Federal Reserve is actually an agency of the federal government.  But that is simply not the case.  The truth is that the Federal Reserve is about as “federal” as Federal Express is.

The Federal Reserve openly admits as much.  For example, in defending itself against a Bloomberg request for information under the Freedom of Information Act, the Federal Reserve stated in court that it was “not an agency” of the U.S. government and therefore not subject to the Freedom of Information Act.

So who owns the Federal Reserve?

As the Federal Reserve’s own website describes, it is the member banks that own it….

The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation’s central banking system, are organized much like private corporations–possibly leading to some confusion about “ownership.” For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

The debt-based monetary system established by the Federal Reserve has greatly enriched the big banks and the people that own them.  This has been at the expense of the American people.

A private central bank should not issue our currency, set interest rates and run our economy.  Rather, we need to return control over the currency to the American people where it belongs.

The following are 14 reasons why we should nationalize the Federal Reserve….

#1 The U.S. Constitution says that the federal government is the one that should be issuing our money.

In particular, according to Article I, Section 8 of the U.S. Constitution, it is the U.S. Congress that has been given the responsibility to “coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”.

#2 Our current debt-based monetary system is a perpetual debt machine.  It is absolutely imperative that we nationalize the Federal Reserve and begin to issue debt-free money.

In a previous article about money and debt, I explained how more government debt is created whenever the U.S. government puts more money into circulation….

When the government wants more money, the U.S. government swaps U.S. Treasury bonds for “Federal Reserve notes”, thus creating more government debt.  Usually the money isn’t even printed up – most of the time it is just electronically credited to the government.  The Federal Reserve creates these “Federal Reserve notes” out of thin air.  These Federal Reserve notes are backed by nothing and have no intrinsic value of their own.

This process creates a huge problem.  When each new dollar is created, the interest owed by the federal government on that new dollar is not also created at the same time.

Therefore, more debt is actually created than the amount of money that the federal government receives from the Federal Reserve.

This is a Ponzi scheme that is designed to drain wealth from the American people and transfer it to the banking system.

This is why I call the Federal Reserve system a perpetual debt machine.  Today, the U.S. national debt is more than 5,000 times larger than it was 100 years ago.

Back in 1910, prior to the passage of the Federal Reserve Act, the national debt was only about $2.6 billion.

By going to a system of debt-free money, the U.S. government would never have to borrow a single dollar ever again.

#3 Our current debt-based monetary system requires very high personal income taxes to pay for it.  It is no accident that the personal income tax was introduced at about the same time that the Federal Reserve system came into existence.

If we nationalized the Federal Reserve and capped federal government spending at a reasonable percentage of GDP, it would be entirely possible to massively cut taxes and still keep our promises regarding Social Security and other important social programs at the same time.

I believe that eventually the entire personal income tax system could be completely wiped out and the IRS could be totally shut down.  This would save our economy billions upon billions of dollars in income tax compliance costs.

However, as an initial first step, I believe that we should eliminate all payroll taxes, all “self-employment taxes” and all taxes on the first $100,000 earned by every American.

This would provide much needed relief to the millions of poor and middle income families that have been hurt so badly by this economic downturn.

Also, I believe that we could instantly reduce the corporate tax rate to levels that would be competitive with the rest of the world, while closing corporate tax loopholes at the same time.  This would remove the temptation for companies to leave the United States in order to escape our brutally high corporate tax rates.

Yes, the proposals above would definitely cut taxes.

So where would we make up the difference?

Well, the U.S. Constitution provides one clue.  According to Article I, Section 8 of the U.S. Constitution, the U.S. Congress has the right to impose “duties, imposts and excises” on goods sold in this country.

For way too long, big corporations have been taking advantage of sweatshops in the third world.  For way too long, other nations have used predatory trade practices to take unfair advantage of us.  For way too long, we have allowed nations with horrific human rights records to ship their goods into our country for free.

Well, we need to bring that to an end.  By raising tariffs we would raise money for the federal government and we could potentially start to reverse the flow of jobs and businesses that have been leaving this country.

Access to the U.S. market is a privilege, not a right.  High tariffs would be imposed on goods from any country that allows slave labor wages to be paid.  Very high tariffs would be imposed on goods from any country that is using predatory trade practices against us.  Extremely high tariffs would be imposed on any nation that does not respect basic human rights.

However, please keep in mind that none of this would work if we did not nationalize the Federal Reserve.  The tax cuts proposed above would be suicidal under our current debt-based monetary system.  But if we nationalize the Fed, we really could do this.  It may sound crazy, but it really would work.

#4 If we nationalize the Federal Reserve, there would be no more budget deficits.  If the federal government was a bit short one year, it would just print up a little bit of extra money in order to make up the difference.

It would also be very important to cap federal government spending as a percentage of GDP so that we don’t have crazy Congress critters creating a lot of inflation by spending us into oblivion.

Just because we would be adopting a debt-free monetary system does not mean that we could throw spending discipline out the window.  Rather, it would actually become more important than ever.

#5 If we nationalize the Federal Reserve, we would instantly reduce the national debt by 1.6 trillion dollars.  That is the amount that is currently on the balance sheet of the Federal Reserve.  The Federal Reserve just created this money out of thin air anyway, so it was never their money to begin with.  Some members of Congress have already proposed cancelling the debt held by the Federal Reserve, and it is a great idea.

#6 If we nationalize the Federal Reserve, we could eventually get rid of the entire national debt.

Under our current system, the U.S. national debt will never, ever be paid off.  We are 15 trillion dollars in debt, and at this point we add more than a trillion dollars to that number every year.

As I have written about previously, if the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt.

But under our current system we are not paying it off.  Rather we keep piling up more debt at an astounding pace.

In a system of debt-free money, there would be no more budget deficits, and we could actually start slowly paying off the national debt with newly issued “United States money”.

This would have to be done very slowly so as to not shock the financial system, but it could be done.  As U.S. debt becomes due, a small percentage of it could be retired each year.

It is entirely conceivable that within 30 to 40 years we could pay it off entirely without causing tremendous damage to the financial system.

#7 If we nationalize the Federal Reserve, we will eventually totally eliminate the interest on the national debt.  Most Americans don’t understand this, but each year we spend hundreds of billions of dollars just on interest on the national debt.  For example, the U.S. government spent over 454 billion dollars on interest on the national debt during fiscal year 2011.

Under a debt-free monetary system, that number would eventually go to zero.  That would save the federal government a ton of money.

#8 While there is certainly a danger that we would have inflation under a debt-free monetary system, the reality is that we are absolutely guaranteed inflation under the Federal Reserve system.

Most Americans believe that inflation is a fact of life, but the sad truth is that the United States has only had a major, ongoing problem with inflation since the Federal Reserve was created back in 1913.

If you do not believe this, just check out this chart.

Sadly, the U.S. dollar has lost well over 95 percent of its value since the Federal Reserve was created.

So, yes, there would be a need for monetary discipline under a debt-free monetary system, but it would be hard to do worse than the Federal Reserve has already been doing.

#9 If we nationalize the Federal Reserve, we would eliminate all of the financial bubbles that the Federal Reserve has been creating.

For example, there would not have been such a bad housing crash if the Federal Reserve had not created such perfect conditions for a housing bubble in the first place.

We should eliminate the Federal Reserve and allow the market to set interest rates.  Having a central authority that sets interest rates is just simply wrong and it creates all sorts of problems.

#10 The Federal Reserve has not been doing a good job.

In case anyone has not noticed, Federal Reserve Chairman Ben Bernanke has a very long track record of incompetence.  Nearly every major judgment that he has made since taking over that position has been dead wrong.

We are always told that we need someone to run the economy and that the Fed is there to keep depressions from happening.

Well, the truth is that the Fed actually greatly contributed to the Great Depression and it was at least partly responsible for the financial crash of 2008.

Now we are right on the verge of yet another massive financial implosion.

If someone keeps wrecking your car, you don’t let them keep driving it, do you?

#11 If we nationalize the Federal Reserve, we could potentially transition to “sound money” at some point.

There is great debate about this of course.  But it is a debate that we need to have.

But before we go to “hard money” we need to do something about this horrific debt that we have piled up for future generations first.  We simply cannot lock this debt in and expect them to pay for our mistakes.

We made this mess, so we need to clean it up.

Going to a debt-free monetary system would allow us to do that.

#12 If we nationalize the Federal Reserve, our local banks will have much more freedom.  Most Americans simply do not understand just how much power the Federal Reserve actually has over our local banks.

For example, just last year Federal Reserve officials walked into one bank in Oklahoma and demanded that they take down all the Bible verses and all the Christmas buttons that the bank had been displaying.

#13 If we nationalize the Federal Reserve, we won’t have trillions of dollars of secret loans being made to big financial institutions on Wall Street and in foreign countries.

Most Americans don’t realize this, but the Federal Reserve made $16.1 trillion in secret loans to their friends during the last financial crisis.

Meanwhile, hundreds of small banks were left out in the cold and the American people got no help.

This is rampant corruption and it needs to be stopped.

#14 The Federal Reserve needs to be nationalized because it is an unelected, unaccountable “fourth branch of government” that has gotten completely and totally out of control.  Even some members of Congress are now openly complaining about how much power the Fed has.  For example, Ron Paul told MSNBC last year that he believes that the Federal Reserve is now more powerful than Congress…..

“The regulations should be on the Federal Reserve. We should have transparency of the Federal Reserve. They can create trillions of dollars to bail out their friends, and we don’t even have any transparency of this. They’re more powerful than the Congress.”

To learn much more about the Federal Reserve and how it is destroying prosperity in America, there is a great animated documentary on YouTube entitled “The American Dream” that you can watch right here.

It is absolutely imperative that the American people get educated about the Federal Reserve and about why a debt-based monetary system is bad for us.

In 1922, Henry Ford wrote the following….

“The people must be helped to think naturally about money. They must be told what it is, and what makes it money, and what are the possible tricks of the present system which put nations and peoples under control of the few.”

The U.S. government does not need to go into debt to anyone.

The U.S. government is a sovereign nation.

So why in the world are we 15 trillion dollars in debt?

We have allowed ourselves to become willingly enslaved.

In the book of Proverbs, it tells us the following….

The rich ruleth over the poor, and the borrower is servant to the lender.

By allowing ourselves to become enslaved to debt, we have become the servants of the international banking system.

Our founding fathers attempted to warn us about this.

For example, Thomas Jefferson strongly believed that when the federal government borrows money in one generation which must be paid back by future generations it is equivalent to stealing….

And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.

Not only that, Thomas Jefferson also 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.

If we had implemented that advice, how much better off would we be today?

We can still do this.

We can take back control of our financial system.

We can nationalize the Federal Reserve.

We can dramatically cut taxes and eventually shut down the IRS.

We can give our children and grandchildren a future that is debt free.

We can escape the tyranny of the international bankers.

The choice, America, is up to you.

  • Bill

    We must have a U S Dollar but it is time to remove the Federal Reserve from the orchard and not give it a new name.

  • dodiligence

    Sounds in theory like a very good ideal. But do you suppose the money masters (watch the video) who were crafty enough to create this system in the first place were so foolish to leave it open to the Government to just default on its debt with no repercussions. We owe them more than we owe China. and they will not just allow us to cancel the debt regardless of how illegal it was to be created in the first place. Make no mistake about it they are the true owners of the U.S. and have purchased her bonds with worthless paper.

  • Lennie Pike

    It’s purpose is to enslave.

    The only definition for money that has meaning is – work. Work is money and money is work. Without work, money could not exist and we in the U.S.A. are going to find exactly that to be true.

    “What, where, when, work – that’s it, work – I got to work on where it is.” The big W is work and the heart of the strategy of the people behind the Federal Reserve is to enslave so as too gain fabulous wealth and total control.

    It’s the only thing these Godless bastards can get off on other than the endless pure evil actions they perpetrate on the World – probably just for fun.

  • Robyn of the Hood

    The heck with nationalization – dissolve the dang thing once and for all!

  • http://georgesblogforum.wordpress.com George Forfa

    There’s only one problem with this. Ponzi schemes take on a life of their own. Protections are in place to neutralize politicians. Central banks have always collected and maintained dossiers of compromising information that can end political careers. When central banks are confronted with enough force to stop their activities, they play hardball behind the scenes. Politicians wilt like last week’s cut flowers.

    http://georgesblogforum.wordpress.com/2011/11/02/the-daily-climb-2/

  • http://www.planorperish.com/ Gutter Economist

    Why has the nation’s highest court chosen not to tackle this clear breach of the Constitution?

    From Dr. Edwin Vieira, constitutional lawyer and monetary expert:

    If they were to void the current system as being unconstitutional, they would effectively blow apart the U.S. and global economy. But as they have no authority to even suggest an alternative system, they are faced with the reality that while they have the power to do great damage, they have no power to cushion the blow. And so, the Supreme Court does nothing.

    As a result, the ability of the federal government to continue its insane spending and rolling out new initiatives designed to win over voters continues with no legal restraints – the latest example being the health-care initiative.

    Put another way:

    In cahoots with the Fed, the federal government is able to wage war, bail out the banks, foster socialism, and otherwise bankrupt the nation – to do whatever it wants – largely thanks to its continued operation of an unconstitutional monetary system.

    From Gutter Economist:

    BEFORE we nationalize the Federal Reserve, the U.S. government needs to implement an alternative system including:

    (1) A gold standard to limit money supply growth and inflation.

    (2) A balanced budget amendment to limit national debt growth.

  • David from San Diego

    # 3 says: “High tariffs would be imposed on goods from any country that allows slave labor wages to be paid.” YOU ARE CORRECT. “Free trade” with low-wage countries has bankrupted us. The natural result is to bring our standard of living into equilibrium with that of the peasantry of Red China. This has been visited upon us by Republicans and Democrats. Why is there no discussion of our “trade policy” in the current Presidential primaries? Because NONE of the candidates would DARE depart from the suicidal orthodoxy of “free trade”. The “powers that be” would ensure that any candidate who dares to attack “free trade” would LOSE.

    • Kevin2

      David

      Take note that the OWS movement is keeping away from the Free Trade with slave labor nations issue too. That speaks volumes on who (or what) is directing that show.

  • mondobeyondo

    I believe eliminating the Fed would be a better idea…

    • Michael

      Mondo:

      Nationalizing it would essentially be eliminating it for all practical purposes.

      Michael

    • McKinley Morganfield

      I agree with mondobeyondo, outlaw the federal reserve and put all officials on trial for conspiracy to defraud the people. Forget about ‘nationalizing’ it. The loose change in your pocket is minted directly from the Treasury of the United States of America. It has not a single fingerprint from Bernanke upon it. Why should our paper money not be issued by the Treasury? Fed Reserve is poison. The antidote is to abolish it immediately.

  • Antonio Gonzalez

    FED Is America and forever, nobody can change it.

  • http://TheEconomicVoice Gregge Johnson

    WARNING to all congressmen and senators. ***************************** Gabbi Giffords>>>>she tried to audit all gold by the Federal Reserve OF course they did/////

  • http://aquinums-razor.blogspot.com/ mansoor h. khan

    Here is how the banker’s game works:

    1) Get the government to issue some currency (cash — paper or reserves at the central bank — reserves are government issued cash central bank deposits). Government issued cash is around 5% of the currency (money) supply. The government issued currency is put into circulation by the government simply spending it.

    2) The rest (95%) of the currency is issued by the private banks. Each customer loan is a new bank deposit (i.e., new currency) and increases the currency (money) supply of the economy. Note that this newly created money (currency) is put into circulation by the borrower spending it. Most currency (about 95% America’s currency supply) has been borrowed into existence and when bank customer pays the loan back that amount of currency is removed from circulation. The banking system cannot go backwards (fewer net loans) as time moves on because fewer net loans means fewer currency in circulation in the economy.

    Accumulation of interest charges on outstanding loans means that the currency supply must constantly increase even if it means giving out lower quality loans. Think of it like a plane flying it must fly at some minimum speed or else the plane (the banking system) will crash (i.e., banking system collapse).

    3) The bankers make dam sure that the common public does not understand how the monetary system works meaning that the private banks issue 95% of the currency. This is whole another topic how they do this.

    4) The system works until real economic capacity of the economy grows and debts can be serviced and interest charges paid. Most of the time the economy oscillates between boom (growth) and bust (recession) because bust is needed to clear debts and start a new lending cycle.

    5) Eventually, one of these cycles goes so deep that currency supply (and demand) falls so low that too many debts become un-serviceable. The recession becomes a depression now.

    6) The bankers then have to decide how to “reset” the system. One way to reset the system is to let the depression takes its course. But of course this path is very chaotic because people lose jobs and may become violent. Once most debts are cleared lending can start again and the currency supply is replenished. Wars are a good way to get initial money (currency) into an economy after a depression to get demand going again. This is the great depression scenario.

    7) Another way to “reset” the system is to get the government to print too much money and spend and destroy the currency and blame it on the government. This justifies issuance of a totally new currency (note that hyperinflation clears debts) and the lending cycle can start again.

    8) The banking system (as is) is setup to maximize the power and influence of the global bankers and NOT for the maximum general well being of people. By the way this is a global game. This is the only system around no matter what country you are in. The global banking cartel makes sure that no competing systems are allowed to exist (so they might be copied and global bankers will lose power).

    For more details on this stuff please read the following articles in order listed below:

    http://seekingalpha.com/article/209386-modern-monetary-system-there-is-another-way

    http://aquinums-razor.blogspot.com/2011/08/what-is-relationship-of-money-to.html

    http://aquinums-razor.blogspot.com/2010/07/why-is-deflation-and-depression.html

    http://seekingalpha.com/article/210346-should-newly-created-money-be-a-private-or-a-public-asset

    http://seekingalpha.com/article/192375-cause-of-today-s-economic-crises-too-much-thrift

    http://seekingalpha.com/article/160269-a-radical-solution-for-america-s-insolvent-financial-system

    http://seekingalpha.com/article/146658-great-banking-confusion-is-there-a-better-way

    Mansoor H. Khan

    http://aquinums-razor.blogspot.com/

  • http://EconomicCollapse Already Gone

    Who Is Going To Change This Ponzi Game? The People Of This Country? Half Of Them Would Not Know There Ass From A Hole In The Ground,The Other Quarter Of Them Are only Worried About
    keeping Up With The Jones’s, The Other Quarter
    Already Know It Is To Late And Have Analyzed The fact It Is Going To Happen And Have Accepted
    THe Fact It Is Going To Happen, So Why Try Changing The Way Society Looks At This Situation? Accept The Fact It Is Over,The American Way Of Life Is Over,People Allowed This To Happen And Now They Aree Going To Pay The Price.There is Nothing Positive On The Horizon, Fema Has An Ad On Tv About A Emergency
    Test That Is Going To Happen Soon,They Are Even Telling People To Have 3 Month’s Of Supplies On Hand, To Get Together With Your Neighbors And Or
    Community To Plan For Bad Times, What More Do You Need To Hear?

  • http://www.planorperish.com/ Gutter Economist

    “By going to a system of debt-free money, the U.S. government would never have to borrow a single dollar ever again.”

    (1) In addition to a balanced budget amendment, another amendment should ban all borrowing by the federal government.


    “This would remove the temptation for companies to leave the United States in order to escape our brutally high corporate tax rates.”

    (2) With current tax loopholes, taxes are not brutally high for many corporations. Taxes are not the only reason that corporations are leaving the United States.

    “If we nationalize the Federal Reserve, there would be no more budget deficits. If the federal government was a bit short one year, it would just print up a little bit of extra money in order to make up the difference.”

    (3) “little bit”?

    “It is entirely conceivable that within 30 to 40 years we could pay it off entirely without causing tremendous damage to the financial system.”

    (4) Our children and grandchildren are not going to service the national debt for the next 30 to 40 years. Go to any OWS event.

    “We made this mess, so we need to clean it up.”

    “We can dramatically cut taxes and eventually shut down the IRS.”

    “We can give our children and grandchildren a future that is debt free.”

    (5) If you include unfunded liabilities, the U.S. government is over 200 trillion in debt. This debt can not be serviced or eliminated with dramatic or massive tax cuts. Where is all the wealth going to come from (other than less interest and tariffs)?

    “If we nationalize the Federal Reserve, our local banks will have much more freedom.”

    (6) Giving banks more freedom has caused many of our recent financial problems.

  • 1stVArifleman

    Your articles are great. You are one of the few sources out there telling the truth. “During time of universal deceit, telling the truth becomes a revolutionary act.”(George Orwell).

    Restore the Constitutional Republic! END THE FED!

    “I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. Corporations have been enthroned, an era of corruption in high places will follow, and the money-power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in a few hands and the Republic is destroyed.”
    Abraham Lincoln

    “Whoever controls the volume of money in our country is absolute master of all industry and commerce…and when you realize that the entire system is very easily controlled, one way or another by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”
    James Garfield

    I wonder if its just a coincidence that both these Presidents were assassinated? Huh…

  • 007

    The FED is a horrible entity responsible for most of our economic problems. However, getting rid of it is not as simple as one would think. It is run for the benefits of the banks. They will not turn this power over without a big fight. They have the power to crash the system any time they want. They can even make a fortune crashing the system. They can create so much havoc they can get the public to beg them to continue to run our monetary system. It is very evil and scary.

    • Emily

      You are absolutely correct 007, but there is a true
      US currency available to all, Silver, it is the only true US currency and if you own silver (not for investments but as a currency) you can survive.

  • mark

    Sounds Great! The problem is that too many Americans are on the government dole. They will not vote their government checks away. This system is going to fall in the future. When? It will happen when enough people lose faith in the value of paper money. If we stop the checks flowing, we will have full scale riots. It will make Oakland look small.

  • Nostradamus

    If Congress nationalized the Fed, USA would be the last country on Earth to do such a thing.

    No other national government is so stupid as to hand over the full power of its central bank to private ownership. But Congress not only did that, it passed a law freeing the Fed from being supervised, and to report any of its operations and finances to Congress. Yes, legalized absolute power. In exchange for getting absolute power, the Fed always issue whatever amount of money (debt really) Congress want. Yes indeed, you do get absolute corruption, legalized. As if that’s not enough, you also get the mother of all currency debasing, for free!

    While we’re on Fed case, I say it’s about time to review the whole matter of the Constitution, especially this separation of power thing. Such a drastic splitting of government, which cannot be reversed by law, is supposed to eliminate corruption or monarchistic power. What a joke. Instead you get the ultimate gridlock, the absolute of corruption, and world’s laughing stock. You know, not one of the world’s country, including all the democracies, adopted the US model of government since 1776. US Exceptionism indeed. It is not too late to swallow some pride and ask some basic questions.

    • mb

      the absolute of corruption?

      You’ve obviously never been to a third world country like Mexico or the Philippines where coruption at all levels is a way of life.

      • Nostradamus

        I have been to more than 50 countries and have seen the best and the worst of mankind.

        You criticized me before understanding what I wrote. I said the Congress-Fed setup is one of absolute corruption. Congress gives Fed absolute power on monetary policy and banking regulation, in exchange for the Fed financing any and all borrowings Congress, via the Treasury, asks for. Have you ever heard of a single rejection of money request by the Fed to the Treasury during the past century?

        Did I say USA is a country of absolute corruption? No. But it is a fact that in the past dozen years, corporatism is rampant.

        • mb

          Ok, that makes sense, I stand corrected.

    • ScoutMotto

      “No other national government is so stupid as to hand over the full power of its central bank to private ownership.”

      I have no idea what you mean. Most every nation has the same exact system, with private stockholders, and that is because they are all owned by the same people.

      • Nostradamus

        Boy you are truly ignorant about central banking.

        In all countries in the world without exception, except the USA, the central bank is either fully or partially owned by the government. This is fact.

        A country’s government ownership and control of central bank take various forms, from 100% control to arms-length control, from dictatorial relation to legislated relation. But only the USA is where the central bank is 100% owned and controlled by its member private banks. The CEOs of the owning major banks of the Fed automatically sit on the Fed board. Only the chairman is selected by the president. But once installed, nobody can fire or control the chairman during the 14 year term. It is monetary monarchy unheard of elsewhere in the world.

        Suggest you visit wikipedia.org, search for all the central banks of the world and learn.

  • El Pollo de Oro

    Back when George W. Bush (one of the worst, most vile presidents in U.S. history) and his fellow neocons were running the country into the ground, the neocon peanut gallery didn’t have many nice things to say about Sen. Ron Paul. End the federal reserve? Blasphemy! End the imperialist wars? How dare you even suggest that, you evil libertarian isolationist! You think the U.S. economy is on shaky ground, Mr. Paul? Impossible! Ah, but here we are in the era of Barack “Goldman Sachs” Obama, and the former USA is now a rotting, decaying Third World mess called The Banana Republic of America. It turns out that Ron Paul (like Gerald Celente, Alex Jones, Gary Johnson, Paul Craig Roberts, the late Irv Homer and other patriots) was ABSOLUTELY RIGHT: the corporatists and globalists replaced free-market capitalism with corporatism/fascism and have been our downfall.

    When I say that the former USA is now a Third World cesspool under the iron boot of a thieving oligarchy, I’m not saying that the situation is necessarily beyond hope. However, our situation is dire, and as Gerald Celente says, only a nonviolent capitalist “revolution” (really more of an EV-olution) can clean up this disgusting mess and eventually get us out of the Third World. In the meantime, the depression will deepen considerably; considerable suffering lies ahead. Things are going to get much worse before they get better, assuming they do get better. And yes, Ron Paul speaks the truth when he says that this malignant tumor known as the federal reserve should be abolished once and for all. The sooner, the better.

    • http://lnx-bsp.net/ Tel

      Trouble is that a whole lot of people believe that socialism will save them, and insist that their government be made more powerful and more overbearing. The government in turn looks after the oligarchy and the process continues.

      The endgame will be suspension of democracy and a modern Feudal system (stable but inefficient) if you are lucky enough to get a benign dictator, or a repeat of central planning soviet style economics (slowly grinds down to a standstill) if you are unlucky.

      • El Pollo de Oro

        Tel: I’ve often said that even though Marxism of the Lenin/Mao/Stalin/Polpot variety was a total failure in practice, it sounds pretty damn good if you haven’t eaten in a few days and are staring homelessness in the face. Unfortunately, many Americans who are hurting badly in this depression don’t understand the difference between corporatism/fascism/neo-feudalism and true capitalism/free enterprise. And whenever some corporatist ghoul mocks the suffering of the American workers (which is all too real), all it accomplishes is making them think, “Hmmm, if that SOB is anti-socialist, maybe I need to become a socialist.”

        • http://lnx-bsp.net/ Tel

          I agree, the wealthy would do well to make a big show of their charitable efforts in the next few years.

          Good charity is actually difficult though, people don’t want to sit on handouts all the time, they want opportunities to make something of themselves (well, quite a lot of people want that, not everyone).

          The trouble with US charity is that private charity *mostly* centers around religious groups, but government charity is driven by the Progressives who tend to be anti-religious (they laugh at people who believe in God, tell them they are dumb for reading the Bible, etc). Thus, the religious groups have withdrawn into themselves and tend to be defensive, and distrustful of outsiders.

          What’s more, it has been made deliberately difficult for individuals to help each other. Suppose I have a good job, but I know the guy across the street from me has been out of work for a while. I could pay him to paint my house, if I did pay him there’s regulations, insurance, liability, safety inspections, unions, paperwork, tax receipts, you name it.

          In the UK, two young mothers were taking turns to mind each other’s baby while they each worked part time jobs. They got arrested for not having the correct qualifications. I kid you not. I wish I was joking, I really do.

    • Kevin2

      Irv Homer…ahh loved him on 1150 AM radio in Philadelphia. He spoke about the mess we’re presently in decades ago. Few listened. I’ll bet a lot more are now. Too bad Irv passed away. He is vindicated.

      • El Pollo de Oro

        Kevin2: Greetings from Port Richmond. I starting listening to Evil Irv, as he called himself, back in the 1980s and 1990s when he was on the old WWDB-FM at 3PM. Yes, Irv definitely called it when he said we would be running into a brick wall financially.

  • SC23

    I applaud you for your massive cojones to say this out loud. I wish more people could and would understand that this, THIS is the root of the problem, not which R or D of the day is president.

  • Reader

    Many very stupid and weak-minded assumptions in this article.

    Fiat money will ALWAYS lead to a debt economy.

    Nationalizing the Fed will do absolutely nothing unless fiat money is utterly (and instantly) abolished.

    All fiat-based debts could be instantly abolished. No need to wait.

    Point #12 is absolutely meaningless and has absolutely nothing to do with the article contents. But revealing on what the real agenda here is.

    The idiot that wrote this piece knows next to nothing about reality. Taxes have NOTHING to do with debt-base monetary system (point #3).

    • Nostradamus

      @Reader, you should take a look if your comments are just as stupid.

      Michael and others say End the Fed. They did not say end fiat money system! Why are you automatically linking the two?

      Fiat money system is pervasive in today’s world. If this system is inherently bad, why don’t you see every country blows up by now?

      At issue is not the fiat money system, gold system or any potential replacement. At issue is the American Federal System setup, and the conduct of its policies over the past 2-3 decades, especially after Nixon de-linked gold backing to the dollar.

      It is clear to me, and to increasingly large number of thinking people, that the current Fed setup is inherently bad, and that the Fed has conducted failed policies. The question is how to fix them.

  • Highspeed

    There are just too many competing views about the subject for me to make any sense of the scope of the problem or what to do about it.

    That is why I am a prepper. I can’t fix the problem, my congressman won’t help fix it, so like others have already said, I have checked out on the issue and will do what is best for me, my family and friends.

  • http://theelevationgroup.net/presentation/register.php?a_aid=a6affed9&a_bid=290b868b John Jackson

    The FED is a joke. Th world is waking up to realize that the world’s largest debt bubble was created and is going to burst due to the Central Banks. You owe it to yourself to prepare and prosper from this historic event. Learn how now:

    http://theelevationgroup.net/presentation/register.php?a_aid=a6affed9&a_bid=290b868b

  • ScoutMotto

    If we nationalize the Fed, it becomes a customer of the Treasury instead of the other way around.

    The Congress (either chamber) will never propose a balanced budget amendment since that would limit their power. They often give lipservice to limiting themselves, but never actually press forward with such action.

    Getting rid of the 14th, 16th and 17th amendments would be a good move too.

  • ScoutMotto

    By the way, very good article Michael. In my mind, not enough is said about the illegal Fed.

    • Michael

      Thank you – but I think a lot of people are missing the point that nationalizing the Fed in the way I am suggesting would be the complete and total end of the Fed as we currently know it.

      Michael

      • ScoutMotto

        I understand. I believe the key lays in clause 31 of the Federal Reserve Act:

        Reservation of Right to Amend
        The right to amend, alter, or repeal this Act is hereby expressly reserved.

  • tappedops

    well until we end the fed… im all in on 9 9 9 plan which is me and 2 other friends all claiming 9 on our W4 and then not fileing— its called a Niner… and theres millions of us— No Guts No Glory… be a slave see if i care…

  • Martin

    In all countries of Eastern European bloc central banks were national and money for government were debt free.
    This have resulted in very irresponsible government spending practice and ultimately all Eastern European currencies without an exception have succumbed to hyperinflation.

    So I doubt that such nationalization in the US would change much.
    A lot of money would be created fast to keep various government agencies running unhindered and inflationary collapse would follow soon.

  • Pat Fields

    This propaganda piece is as un-American as they come! Who wrote it? It doesn’t say! Why is that?

    Communization of the Central Bank Cartel is a double negative. Neither of the forms was ever intended to exist in this country. Government influence over commerce ought, instead, to be abolished altogether, rather than further extended by a contrived ‘authorization’ to issue ‘Bills of Credit’. As it is already, government is fraudulently accepting legalized ‘Bills of Credit’ for its Treasury Bond borrowing!

    I don’t buy this crap for a nanosecond!

    • Michael

      Pat:

      I am in no way advocating keeping the central bank in its current form.

      What I am advocating is that it be the U.S. government that issues and controls our currency.

      Funny thing – it turns out that is what the U.S. Constitution requires.

      Michael

  • http://lnx-bsp.net/ Tel

    Yeah nationalize the Fed before the Fed buys the whole government. Oh wait…

    “If we nationalize the Federal Reserve, we would eliminate all of the financial bubbles that the Federal Reserve has been creating.”

    Oh please. Those bubbles were very deliberate government policy. When there’s a boom in house prices and a boom in stock market prices, the government give themselves a pat on the back, and the voters are soooo impressed by their new found wealth.

    Endless Fed loans at low interest rates are the best thing for government borrowing and spending on special political interest groups. Doesn’t anyone feel a bit suspicious that government can borrow billions at less than 1% interest, but hmmm, what is it you guys are paying on housing loans? Rigged sorta?

    “If we nationalize the Federal Reserve, we could potentially transition to “sound money” at some point.”

    The US government could transition to sound money any time they wanted to, if they could only learn to balance their budget first. Strangely though, they don’t seem interested.

    Here’s a tip, inflation is being used to devalue wages. They ignore food and fuel (two of the most important things that everyone buys) because they want the official inflation figures to look good, but the purpose is to knock down real wages. Since most employees are not in a good position to push for a wage rise right now, the gap between prices and wages is just going to keep growing. That’s all driven by government spending, and the winners are the pressure groups with political connections who can ensure the government money gets spent on them.

  • John

    Rothschild said it: “Give me control of a nations money supply, and I care NOT what laws you make”.

  • karen

    There is a good read on the web Intell Hub on Glenn Beck he has some news you may need to know about, should know about.

  • Barn Cat

    It won’t happen. There are too many people in government who want to be able to print all the money they want. There are also people who want to destroy America so it can become part of a one-world government.

  • Dolphin

    Very powerful and vicious people run the Fed. The last president to try the have the Treasury print our money as “Silver Certificates” Was JFK. After issuing his Executive Order, he stopped a bullet in Dallas. His brother ran for president with the same idea, and he got in the way of a bullet in L.A. Back in the 1800’s, Andrew Jackson got rid of the bankers and there were 3 attempts on his life. These people are not going to give up their power with out a very tough fight.

    • mondobeyondo

      Very true. I fear for Ron Paul’s safety if he does get elected President.

  • Syrin

    Almost all Americans (with the exception of the greedy violent fringe (hello Gary)) would agree with this. It is Constitutional, fair, and economically sound. However, the power would be removed from those in place now, and as such, this will never come to pass.

  • Syrin

    Point number 6 needs more explaining.

    How do we take modest steps on paying off $15,000,000,000,000 of debt in 30 years with little impact on the financial markets and entire economy? This sounds a bit like the underpants gnome episode from “South Park”.

  • http://1776solution.blogspot.com Republicae

    We should not make the mistake of thinking that the FED was not the creation of and the benefactor of this government, it is, in fact, the lapdog of this government and the government benefits greatly from its monetary policies. If it were not for the FED this government would have to be responsible, would have to function as the Constitution mandates, if it were not for the FED this government could not maintain its interventionist empire around the world, engage in political wars that have nothing to do with the actual defense of this country.

    The Federal Reserve Act is a government issued monopoly power over money and monetary policy. It forces all nationally chartered banks to be members of the FED and thus be owners. It is also important to remember that Congress does have the power and the right, by that Act to repeal it at anytime.

    Stockholders are mandated by the Act to be stockholders, they cannot change the by-laws of the system, they have no voting rights except to elect 6 out of the 9 members of each of the 12 Regional Banks and they receive a set dividend. It is also important to remember that the vast majority of interest collected on Treasuries is returned to the U.S. Treasury. It is indeed a strange creature that provides such a patronage system for this government, creating benefactors within the government as well as within corporations.

    The fact of the matter is that the FED is nationalized from the point of functionality, it is a government creation that benefits this government and this governments patronage system of corporatism.

  • Randy

    If no FED then Congress could handle the same tasks with the same competency & fiscal restraint that they typically apply to monetary matters…. UH isn’t that why they created the FED in the fist place?

  • Game Over

    My Demands? Simple:

    1) Revolution
    2) ***********************************

  • R. N. Paling

    your article makes sense,that’s why it will not ever be done, face facts the average American citizen is a slave, he is controlled from the day that he is born, brain washed to think that the American way is the only way for the World’s population to live and so we have the right to say who and how the world must operate our way or else,the federal reserve and their friend’s on Wall Street will always’ make sure of that and that there will alway’s be plenty of brain washed patriots for the armed force’s what abunch of sucker’s we are

  • http://TheEconomicCollapse David of OK

    The Fed and its banksters would not go without a fight. They would threaten to take down the system and get the press behind them with their investor lackeys telling us how dreadful that will be and totally unnecessary and conspiracy driven. And the banksters would not be above following through on their threats. At this point the Fed is too entrenched in the system to take it out without the American People being willing to take a 100% haircut to gain the freedom they need.

  • Matt B.

    Michael,

    I agree with everything in this article.

    But I would add one more thing: the unelected bureaucrats at the Fed and their criminal shareholders should be arrested and tried for conspiracy, fraud and treason.

    And these trials should be made as public as possible.

  • Kevin2

    Nationalizing the Federal Reserve is one thing but if the politicians are allowed to print up fiat currency we’re pretty much in the same boat. What is needed is a standard. It may be gold, diamonds or other item of value.

    • Michael

      My argument is that we need to clean up the mess we made before we transition to such a system.

      If we “lock in” the 15 trillion dollar debt we have now for future generations that would be a huge curse upon them.

      Michael

  • Kevin2

    Michael

    The only way to lock in the debt is have a standard. Elastic currency will facilitate overspending. Maybe gold will be locked in at $1700 / oz as opposed to the $20 /oz then $34 / post 1934 confiscation. It’s all linked though. The USD being the world reserve currency is enforced by a large military through MIC. It needs elastic currency to feed “the machine”. Our standard is useless without a huge industrial base to back it up unless of course you threaten violence (in defense or offense) to obtain compliance.

    I think the bankers would enact a scorched earth economic policy before they would have their power taken away. They would create disorder and be standing by to institute order.

  • Pihilip Stark

    I’m sorry to have to repost this thing over and over again for the benefit of enslaved idiots who continue to foolishly confuse MEDIUMS OF SAVINGS with MEDIUMS OF LABOR EXCHANGE, have no notion of what The WEALTH OF NATIONS is or what the HUGE DIFFERENCE between an ENSLAVED MARKET (fascist Tory crony warlord) and a FREE MARKET (free republican) economic system is all about.

    Moreover this simple National Economics Lesson clearly explains how there is and cannot yet be any such silly nor more ridiculously premature and meaningless thing as a “GLOBAL ECONIOMY”.

    We don’t need to “nationalize” the public constitutional economic utility our nation’s own public-money printing service, we need to seize it back from the criminal ennobled private gang of boardroom-socialist Pharaoh counterfeiters who have stolen it from us and enslaved us with it.

    National Economics 101:

    1: All economies are local.

    2: Labors and the (renewable) fruits of labors are the Prime Commodity.

    5: The main medium of commercial exchange is a local Labor-Exchange “Currency”.

    3 The Prime Commodities (Labor’s-Fruits) are “fiat”, unlimited, and ever-growing.

    4: All commodity-resources OTHER than ever-growing Labor and Renewables are finite and ever-shrinking in proportion, due to growth. All these “others” are, to certain conditions, “mediums of investment”.

    6: Rarer Commodity Resources (arts, antiques, metal and mineral rarities) are “mediums of savings”.

    7: The current value of a local Labor Exchange “Currency” is the sum of the values of it’s exportable labors, divided by it’s quantitive distribution among and size of labor-exchanging populance.

    8: One cannot represent the value of an infinite quantity (the fruits of all labors) with that of any finite one(s), hence, Labor Exchange “currency”-supply growth must be “fiat” (ever-growing along with a growing economy).

    9: A local Labor Exchange Currency is owned, issued and it’s value determined solely by and for the utility of the economic populance to who’s economy it belongs, It is NEVER owned by those who merely possess (hoard) it.

    10: The prime socioeconomic conflict and corruption is always between those with hoarded “old” money and the public economy’s continuous need for “new” money and the profits from renting it.

    In the economics lesson in Genesis of the famine in Egypt, when Joseph (greedily) sells Pharaoh’s grain until Pharaoh accrues all the gold (then a “money”), the people must then barter their animals for it and then, thereafter, barter themselves to eat as they are finally left debt-enslaved for eternity.

    A finite “old money” public Labor Exchange Currency supply system is slavery. A winner or winners will always emerge after which the rest of the economy becomes their private chattel, and it’s participants their slaves. This is why gold or something like DaVinci paintings could not ever be used as a “labor exchange currency” in any growing economic system.

    One “winning” consumer (Pharaoh), no matter how audacious their consumptive lifestyle cannot “urinate down” a “Free Market” economy. The Wealth of Nations is their public property expressed and represented by the foreign-export fruits of labors value of their public “medium of Labor Exchange Currency”. Maintaining and growing the ongoing exchange-value of it’s own economic “currency” is the work of a nation, it is not ever to be regarded as the privatev toy-hobby of a Pharaoh.

    The stupidly foolish notion of using a limited finite resource (like DaVinci paintings, or gold to represent the limitless ever-expanding and growing resource of our Prime Commodity (our individual labor properties and the limitless fruits thereof) IS A RECIPE FOR SLAVERY AND EXHAUSTION.

    The global depression we all now must face is one created solely by and for the benefit of the private old-money (private Fed-paper labor-exchange “currency”) usurer-hoarders, WHO KNEW was totally obvious and inevitable that from the moment that they, themselves treasonously coined and disseminated the depraved, corrupt imperial-fascist political expressions “Deregulation”, Global Economy” and “Free Trade”, to corruptly sell us, for the sole benefit of them and to finance their soulless corporatist transnational-socialist fascist cronies. When a Free Market’s economic outputs are maliciously and deliberately shrunken by corruptly ill-regulated policies, growth of a nation’s currency supply, growth of Keynesian public infrastructure stimulus spending, growth of war-communism spending and growth of destructive, parasitic war-communist-debt and the growth of labor populance is and debt-tax enslavements are all totally inflationary.

    The corrupt private Fed “old-money” Mafia knew they were engineering this result. Due to their maliciously inflationary program everything else shall ultimately deflate except “mediums of savings”…

    If you have nothing to export, nobody needs your currency and it is thus devalued.

    The “globe” cannot have a “global economy” nor its own labor exchange “currency” since it has no labor participants of its own nor does it produce nor exchange anything for nor with any other globe.

    Greedy, corrupt, ennobled Pharoah-welfare parasites who merely lend-out worthless tokens for the “old money” that they have happened to possess the most of and criminally buy themselves our politicians with are not another economic planet.

    Gold, as a very finite resource and rare antiques and art are always certain to appreciate “mediums of savings” that merely suffer from being somewhat more illiquid forms of real, portable, own-able asset possessions. By contrast, as common “mediums of exchange” in ever-growing exchange systems, publicly owned and issued Labor-Exchange “Currencies” must always consistently marginally decline in value over time since they represent the ever-growing Prime Commodity-Resource of “the fruits of all labors”. This provides the incentive to invest or save, rather than to hoard or live off the avails of the usury of them.

    The problem with the private Fed Mafia is not with what it’s doing, it’s with its corrupt insider-secrecy and with those who corruptly claim to illegally “own” our public Labor Exchange Currency and by extension all of us, all of our properties and all of our labors. It is an unconstitutional, private, insider-trading and enslavement monopoly! If our government was abiding by the Constitution and doing these (money-issuing and money renting) things itself for all of our common good and profit the abominations of taxation would be unnecessary and obsolete.

  • Jeffrey Conner

    Here’s a question for everyone. Have any of you ever played or witnessed a game of Monopoly that didn’t eventually produce a winner? When someone wins at Monopoly the next step is for the winner to put all the deeds and money he or she has horded back into the common pile so that another game can start. The World we live in is no different than the game because the wealth and resources of the planet are FINITE. The problem we face is that those who control the most wealth don’t yet realize that they are only wealthy when “compared” to those who are not. If the middle class ceases to exist the whole system fails because poor “players” are already out of the game. If you don’t have a dollar to spend you aren’t important to the game anymore, and the whole game suffers a reduction in the flow of commerce. That’s bad for the global economy. We are in need of a paradigm shift concerning the nature of global commerce and trade. If sixty percent of the worlds population in “all” economies are poor. What would happen if they had paying jobs and a way to improve thier lives. Suddenly the world economy would experience huge surge of cash flow as these forgotten folks begin spending. It would be similar to putting a turbo charger on a car engine. The Rich would be happy because there would then be more things for them to “own”, and the poor would eat and have roof over their heads. Does this “not” make sense to anyone out there?

  • Jake

    Henry the Sixth, Part 2, Act 4; “The first thing we do, lets kill all the lawyers”. I must do a search to see if Shakespeare wrote anything about Federal Reserve bankers. :)

  • msbetz

    Reinstating GLASS-STEAGALL would solve the financial dilemma. It would eliminate the debt. It is NOT our debt. Glass-Steagall Act H.R.1489!
    But Obama would not, so removing Obama from power would go a long way to getting that done. Demand a congressional investigation of Obama’s illegal acts. But WHO would do it? The courts and congress are being held hostage by Obama/Soetoro. Is he a CIA operative? A british plant? Are we experiencing a Coup d’etat? while Americans watch patiently for law to prevail~~~ Nobody knows who he is or who he’s working for, it dosen’t seem to be for America. The UN? The British Monarchy? The Banking Cartel? Time for some clarity. Many crimes, no indictments.

  • Dave

    “Every effort has been made by the Fed to conceal its powers – but the truth is the Fed has usurped the Government. It controls everything here and it controls all of our foreign relations. It makes and breaks governments at will.

    “Mr. Chairman, we have in this Country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the Fed. The Fed has cheated the Government of these United States and the people of the United States out of enough money to pay the Nation’s debt. The depredations and iniquities of the Fed has cost enough money to pay the National debt several times over.”

    This evil institution has impoverished and ruined the people of these United States, has bankrupted itself, and has practically bankrupted the Government. It has done this through the defects of the law under which it operates, through the maladministration of that law by the Fed and through the corrupt practices of the moneyed vultures who control it.”

    – Congressman Louis T. McFadden,Chairman of the Banking and Currency Committee(1933),decided on May 23, 1933, to bring formal charges against the Board of Governors of the Federal Reserve Bank System, The Controller of the Currency and the Secretary of the United States Treasury for numerous criminal acts, that included fraud, unlawful conversion, conspiracy and even treason.

  • Orange Jean

    Michael,
    I know this is off topic, but at work today we were asked to share this as widely as possible and it seemed like your blog would be a good and appropriate place to post it.

    On Nov 9 there is going to be a National Emergency Alert drill, and there is some concern that the media may NOT tell people it’s a drill… and if so, that could cause panic. I don’t know any details on what the nature of the drill is, but it’s for Nov 9. See the info below. Thanks! -Jean (aka, Orange Jean)

    What we got sent from my Commanding Officer is below:

    From: Williams, Larry N. (CAPT)
    Sent: Monday, November 07, 2011 2:16 PM
    To: NEHC Portsmouth – ALL Users
    Subject: RE: EMERGENCY NOTIFICATION TEST 09 NOV

    Good afternoon all,

    Subject: National EAS Test 9 NOV at 1400

    Please share the attached information with as many people as possible to inform them of the National Emergency Alert System (EAS) test that will be performed on 9 November, 2011 at 2 pm EST. It’s important to inform everyone of this test to prevent panic as it is possible that when the test is run through the media, it may or may not indicate that it is a test.

    This is the first time the EAS will be used for a nationwide test and it is being developed to alert the country in the event of a national emergency.

    Most people are familiar with the local EAS alerts heard during monthly
    tests on their local TV or radio stations however, this is the first time it will be done on a far reaching national level.

    Again, please share the information with family members and loved ones in order to minimize concern and worry.

    Very Respectfully,
    Larry N Williams, Captain, Dental Corps, USN Senior Health Consultant and Project Lead, Wounded, Ill, and Injured Health Promotion and Wellness
    Program, Navy and Marine Corps Public Health Center

  • Time out

    Just look at the Bank of North Dakota,it works because it competes with the Fed. …..

    You will gain nothing if you nationalize the Fed. Reserve Bank

    get real

  • http://lastdayrapture.blogspot.com/ TK

    Thanks for another great post!
    It will not be said that our nation crumbled because of a lack of truth. Our nation will crumble because of a lack of action to the truth.

  • http://www.youtube.com/watch?v=bD4611qW6R8 Ben Dover (America)

    Not necessarily off-topic:

    November 22, 1963 – the day AMERICA died.

    PLEASE ! share this email with EVERYONE you know !!!! They
    deserve to know the TRUTH, about who killed JFK, before they
    die (like so many who have already died, never knowing the
    TRUTH !)

    It was LBJ and the CIA that killed JFK – and the Warren Commission was a
    COMPLETE WHITEWASH/COVERUP, which included a key CIA man (Dulles), who
    hated Kennedy, and who Kennedy had fired from his post at the CIA. (Recall,
    that JFK was sleeping with the Wife of Cord Meyer – LBJ’s buddy, at the CIA).

    The Truth Behind the JFK Assassination http://nstarzone.com/JFK.html

    The Case Against LBJ (Part 1) http://www.youtube.com/watch?v=FZzEbKxCFBM&fe

    The Case Against LBJ (Part 2) http://www.youtube.com/watch?v=bZcecy1btLY&fe

    The Case Against LBJ (Part 3) http://www.youtube.com/watch?v=6BiYVw8ml9c&fe

    E. Howard Hunt Outs Lyndon Johnson in JFK Assassination – Part 1 http://www.youtube.com/watch?v=bD4611qW6R8

    Robert Gaylon Ross Sr. Interview with Madeleine Duncan Brown – Part 1 http://www.youtube.com/watch?v=haMhn7jgW6E&fe

    The LBJ-CIA Assassination of JFK http://www.federaljack.com/?p=18969

    Read 1) BLOOD, MONEY & POWER, by Barr McClellan, 2) Mary’s Mosaic: Mary Pinchot Meyer & John F. Kennedy and Their Vision for World Peace, and 3) JFK: The CIA, Vietnam, and the Plot to Assassinate John F. Kennedy, by L. Fletcher Prouty. Did you know, that LBJ would have gone to PRISON, for the murders of 8 people in Texas (including LBJ’s own SISTER!), at the hand of Mac Wallace, LBJ’s hired hit-man, had LBJ NOT become President? LBJ wanted DESPERATELY to become President. (Just like Tricky Dick Nixon, who was at Clint Murchison’s house, the night before the Assassination, along with many, many other colorful characters, such as J. Edgar Hoover, and Jack Ruby). TPTB (The Powers That Be) knew that JFK and RFK were trying to get LBJ OFF the ’64 ticket! In order for TPTB to reverse all of JFK’s actions as President (such as Executive Order 11110) – LBJ would HAVE TO BECOME PRESIDENT. The choice was clear – the deed would be done in Dallas, but only after they ruled out Chicago, and Tampa). LBJ suggested the Dallas venue. JFK agreed. Jack Ruby owed a favor to Carlos Marcello. That’s why he was the one who took out the patsy: Oswald.

    FIVE important books on the subject:

    1) Blood, Money & Power, by Barr McClellan
    2) Mary’s Mosaic: Mary Pinchot Meyer & John F. Kennedy and their Vision for World Peace, by Peter Janney
    3) JFK: The CIA, Vietnam, and the Plot to Assassinate John F. Kennedy, L. Fletcher Prouty
    4) Coup d’Etat in America: The CIA and the Assassination of John F. Kennedy, by Alan J. Weberman and Michael Canfield
    5) Plausible Denial: Was the CIA Involved in the Assassination of JFK? by Mark Lane

    • mondobeyondo

      Well isn’t that odd? I always thought it was Oswald. (sarcasm off)

      OF COURSE it was a conspiracy.

      Several witnesses in Dealey Plaza that day said they heard two shots fired in rapid succession. Very close together, as in “bang-bang”. Oswald would not have had time to aim, fire, reload his bolt-action rifle, aim and fire again in less than 2.3 seconds.

      Case closed.

    • A Son of Liberty

      The writer is not far off! True, that the FED has got to go is part of the answer. Our Treasury Department are the only ones that are required by our Constitution to issue and coin money ($). President Jackson was very strong on this, that it almost cost him his life. JFK, made many enemies during his presidency. LBJ, alot of Senators, CIA, the International Banking group, and Illuminati ( and yes! Barbara, they are real) and it cost him his life. The American people need to take back the freedom that has been given to them, not by Senators, or the Bankers but by our Constitution. Wake Up! Draw the line in the sand. Because the life blood that we still have will be gone! GOD Bless the Republic! and GOD please bless our nation!

      • Thomas Michael Croft

        Freedom doesn’t exist because of a piece of paper, nor is it given by anyone. Freedom is taken by each of those willing to stand up and take it for them selves and their family.

        This is what the Constitution and those who laid the frame work out for all of us were trying to say.

        The constitution is a written battle cry for each of us to shout as we continuously fight, each day, to remain free.

        Not the “all powerful” document to “give” us freedom but a timeless reminder for all those who truly wish to remain free, just what it takes to be free.

        And yes, true freedom is inalienable, however, the only true defender of that freedom, is each of us who is willing to stand up and secure our freedom for themselves, and not wait for others to give it to us.

        When a person delegates the procurement of personal freedom to another person, group, government, or religion, they will be the ones who decide what is freedom and how you should be free.

        This is not freedom and this is how this country has gotten to this point…again!!!

    • Kevin2

      Best Evidence by David Lifton was eye opening too.

  • bobbobbobbob

    gnp=c+i+g+exp-imp
    GNP=W+R+I+P
    THOSE ARE THE FACTS
    UUU imp(import) too much uuu exp(export) too little UUURRRAAAFAILEDSTATE= NO HOPE4UUU

    • bobbobbobbob

      YOUR IDEAS ON SOCIALIZING THE FED ARE GOOD BUT TO LATE.THE MILK IS SPILT. PLEASE ACCEPT YOUR POOR PERSON STATUS—-BUT UUURRR CANCER FREE—WHERE THERE IS LIFE THERE IS HOPE

  • tappedops

    Mr Pike… ive spotted the “Big Duda-uuu” — if no-one else knows what im talking about, can we split it?

    • Lennie Pike

      What do you mean split it?

      How many people were in your car?

      Are you talking shares? If you are, I still don’t get as much as everybody else.

  • LvM

    Indeed, the government could stop borrowing money… and instead start printing it themselves. None of the fundamental problems -too much spending and inflation of the money supply- would be solved by nationalizing the FED. On the contrary, they would become much worse because politicians tend to think only short term – as far ahead as their next election, hyperinflation would ensue in no-time. This would mean this corrupt system would collapse much sooner, granted, but it is not really a solution.
    The solution is to shed the monopoly on currency and the setting of interest rates. People gravitate towards sound currencies, in a free market the soundest currencies (amongst others ones that are based on gold or silver) would come out on top, providing stable economic growth.

  • A.S.

    If the IRS eventually will also be “killed” don’t you think the tax lawyer will need to find more work? Do you think we need more litigation lawyers? That is the only field they will be able to transfer to: from one criminal-protecting job to another.

  • Aaron

    Whoa! Whoever posted this – you made an error. The Congress is -not- part of the Federal government. Having the Feds issuing money at -all- is a violation of the constitution.

    It is a power held by the legislative branch – the Congress.

    • ScoutMotto

      “The Congress is -not- part of the Federal government.”

      Article 1 of the Constitution disagrees with your statement. It establishes the Congress.

      “Having the Feds issuing money at -all- is a violation of the constitution.”

      If you mean “feds” (which is what you spelled), they do indeed have the power to coin money. If you mean “Fed” (which is NOT what you spelled), then that is correct.

  • MarkD

    Micheal, Nice job. If we could only get people to vote for something like this. The balance has already tilted. You write of cures and great hope, for that I applaud you. For me with true saddness I think it is simply too late. Our government would not do this if we put it on the ballot and voted 100% to end the fed. They would still have to vote to do what we want. They wouldn’t do it. I don’t remember where in the costitution I read this recently. But basically what ever the people vote into law must be approved and voted on by our representatives. So you see they have made us powerless to fix this it will always go back to them. They are owned by the fed.

    • Michael

      I agree with you that it is probably too late.

      I just want people to understand that there is an alternative to what we are heading towards.

      Michael

    • Old Man

      Of course the Fed cannot and will not be abolished. It is the only body legalized to counterfeit and print money. Congress gave that ball away and it ain’t going to get it back short of a 1776 style revolution. As one famous comedian said: The Fed got you all fools and slaves by the balls …

      Do you know what was the last time a major central bank was abolished due to institutionalized failure? Answer: the central bank of the USSR, busted up when the empire collapsed and died. Replaced by the Bank of Russia. And the Bank of Russia is owned and controlled by the Russian parliament under strict legislation.

      Nothing is ‘too late’ because nothing is truly too big to fail. Entire empire has failed. But that’s what it takes to change the Fed.

      • A Son of Liberty

        This writer is wrong about the FED not beable to be abolished. Yes! they can and the people have the power along with our Constitution can make this happen. Who would have thought that thirteen colonies would be able to break away from Great Britian? But, we did! so never sell AmeriCANS short on their ability to move mountains. GOD Blessthe Republic and GOD Bless our nation!

    • Craig Stock

      RON PAUL!!!!

  • Thomas James

    Michael, can you explain something to me that I’m confused about ? If the Federal Reserve loans money to the US Government then why are we always hearing that the US is borrowing money from China ? How does that fit into things ? Is the FED involved in any borrowing from China ? Thank you.

    • Michael

      Thomas:

      The Federal Reserve is the intermediary. The Federal Reserve takes the U.S. Treasury Bonds that it gets from the federal government and it sells them off to big banks, foreign governments and other interested parties.

      Michael

      • dodiligence

        But in this situation: The Federal Reserve can’t find buyers for all the treasury bonds, so they are holding trillions of dollars in bonds.

  • libertarian777

    this blog mostly has good articles, but this one is completely off topic.
    It’s bought into the whole Ellen Brown / Michael Montage / wizard of oz / mathematically perfect money / whatever else you want to call it theory.

    That gold is bad (controlled by ‘bankers/rothschilds/whoever’, that the constitution gives congress the right to issue money, that having the US treasury issue currency will solve our debt problems.

    Well it won’t.

    Effectively all the Federal Reserve does is monetise US treasury notes into US ‘dollars’. Taking the Fed out as the middle man won’t change much (the Fed pays most of the ‘profits’ it makes BACK to the US treasury so any interest we pay on the national debt to the Fed Reserve comes back to the US treasury), all the US treasury will do is issue US dollars directly. And they will issue unlimited quantities of it until the dollar is worth the paper its printed on (2c).

    An actual US dollar is defined as 371 grains of silver as per the 1792 coinage act. The 1 ‘dollar’ federal reserve note you are familiar with is a COUNTERFEIT. Of what you ask? Have a look at a one dollar SILVER CERTIFICATE and you will realise that the ‘real deal’ is the silver certificate (redeemable in silver) and the FRN denominated in dollars is a fraud (it is NOT redeemable). They look VERY similar, but the FRN is a counterfeit, it is pretending to be redeemable in specie, but it is not.

    Congress’ sole role in ‘regulating’ money was to define the weight, purity and fineness of gold and silver coin. They did NOT ‘issue’ money. You as a private citizen were suppose to be able to take your gold and silver to the US mint and have them coin it, for a small fee, into currency. They ‘coin’ it by stamping it with their mark, this mark is what guarantee’s the weight, fineness and purity of the coin.
    ANY OTHER PRIVATE MINT can likewise do the same. (Competing currencies). If a particular mint debased its coinage but printed ‘.999 fine’ on it, over time the market would (through arbitrage and other means) determine that that mint was dishonest and discontinue to utilise its minted coin.

  • Gregaj7

    Nationalizing the Federal Reserve might prove to be a bit difficult, since its control is held by International Bankers hq’d in the “Square Mile” (City Of London). It’ll also be hard to eliminate, since it is a private corporation doing business with another private corporation.

    • Eileen Dover

      You are absolutely right, Gregj7! My husband, Ben,(not berspanky) agrees with your post as well.

    • JohnG

      The Fed can be abolished by revoking the Federal Reserve Act of 1913. Congress may then create an agency of the federal government to act as the new central bank.

      The board of directors of the new central banking agency should be elected by the states, not by Congress. If every state established its own state-owned bank [modeled after the Bank of North Dakota], then states would save on banking costs and could issue loans for farmers, home buyers and small businesses at low rates. ND has a billion dollar state surplus and the lowest unemployment rate in the nation and has avoided problems during recessions thanks to their state bank.

      50 state banks could act as the money distribution banks and would create their own reserve banks for handling the loans needed for regional banks, state and private. The state banks could elect banking leaders to fill the board of the new central bank and thereby act as safeguards of the money supply and prevent Congress from its attempts to use money politically. The president could still appoint the chairman of the central bank’s board with Congress approving the appointment as is now.

      The primary problem is preventing Congress from resuming its corrupt use of our money. With no ability to borrow, we would need to print more money as the economy grows. This is always managed by the central bankers of the world and should continue this way.

      This system would then issue money as loans to state banks who would lend to private banks and consumers as above. So, all interest would feed to states and to the US Treasury and reduce the need for income taxes. This amounts to $450 billion in 2011 with the current debt.

      With new debt-free money, we would replace all of the debt quickly and eliminate all interest paid to the Fed and its lenders. By eliminating the interst that goes to foreign lenders, we woould keep this money within our economy and help it to grow and create jobs.

      See the stuff on Public banks by Ellen Brown and the Money Masters video by Bill Still to get the history of money and details of the benefits of state banks.

      We need to demand this change or we will suffer a great catastrophe due to the growing debt that is crushing the economy and preventing growth of jobs. If we don’t do so soon, it will be too late because the debt in Europe will spread the banks and financial defaults into the USA.

  • tenbo

    Fed must be finished

  • Jack

    Japan in WWII: A Casualty of Usury?
    Was WWII Fought to make the World Safe for the Bankers?

    http://www.veteranstoday.com/2011/06/26/was-world-war-ii-fought-to-make-the-world-safe-for-usury/

    Hitler and the Banksters: The Abolition of Interest-Servitude

    http://www.veteranstoday.com/2011/09/13/hitler-and-the-banksters-the-abolition-of-interest-servitude/

    • JohnG

      I think every war has been about the money and lenders have proviked many of them, including our revolution and our civil war. It’s in the “Money Masters” video by Bill Still on Youtube. Everyone should watch it to learn the truth about our money and how the lenders control govenments this way.

  • hapax

    By ” nationalize” I presume you mean “destroy”… There’s nothing like a pile of smoking ruins strewn with dead banksters to assuage public wrath. It’s the only way…

  • Bob Marshall

    I would like to recommend a DVD titled AGENDA Grinding America Down. The trailer is worth a look. http://www.AgendaDocumentary.com If nothing else you would understand who are some of the organizations behind Obama.

  • LOYAL CITIZEN

    REQUEST FOR HELP PLEASE:

    Can someone please give me information regarding the exact amount of money it would take to “buy out” the Federal Reserve as noted in the official Government transcripts.

    I need facts and links please, not guesses or opinions.

    I need this immedialtey please.

    Thanks
    Loyal Citizen

    • JohnG

      Zero.
      We should just put the owners in jail for defrauding the American taxpayers with debt-based money since “the Fed” was formed in 1913.

      That makes many trillions they owe us plus the triple penalty that justice should add to the total.

      The members of Congress who have supported this corruption should also be imprisoned.

  • Superme

    I’ll admit I only made it through the first two points – this is silly. Just as one example, the reason the Fed pays interest on debt it issues is because suppliers of capital (ie lenders) need to be compensated for the use of their capital. Think about it – would you lend your money to a government, company, etc for free? Why would you take that risk if there is no benefit? To suggest that the Federal government could convince investors to lend it capital without paying interest is not realistic.

    • Shazam

      Yes, but who created the ‘lenders’. Its the same group. They have been doing for nearly 100 years. Where do you think the lenders got all their money? Their wealth? From the sky?

      Its created for them from the US people until future generations.

      What a naivety!

  • keydl

    Congress has 18 duties under the Constitution – coining money (free coinage ) is one as is granting Letters of Marque and Reprisal for acts of war or piracy.

    Under the Surpremacy Clause Congress can make law on most anything, observing of course the ‘handcuffs’ of the Bill of Rights. However Congress may obligate the Country foe one year except concerning the Army it is two years.

    A national bank is not a duty named for Congress so the contract sold by a rogue Congress that returned during Christmas break in 1913 to do a lot of damage, it is a power not delegated and exceeds the $20 value given in the Constitution so it needs passed every year because it obligates the US.

    Same with retirements – the labor ‘cost’ needs to occur in the year the labor is rendered. The only Constitutional way to provide a retirement is to buy an annuity.

    There is no prohibition on public debt but I think the first thing to cut should be the Representatives pay – by one half when they report out an expenditure that causes debt. One bill should cover one agency.

    Congress shall lay AND collect taxes not delegate collection to another branch unless they admit failure to do their duty.

  • keydl

    The original contract was for 144 million if the information was correct in civics class in 1961.

    There should be no buyout because of the limit on Congress obligating the Country as that would be for one year and repeating the payment would display the limit.

    OT : one of the best ways to recover the government would be to limit the paychecks to 12 years for all to prevent ‘empire building’ within the agency and departments.

  • Jane

    We need to reinstate the gold backing that the federal reserve system initially had in place before the European Banking Cartel infiltrated it in the 1920s. Here is another interesting tid bit. The kidnapping of the Lindbergh baby was linked to the European Banking Cartel taking over the Federal Reserve. The childs grandfather Charles Lindbergh Sr. was a congressman and hold out, he was not in favor of the European Banking Cartel taking over our Federal Reserve System and was a thorn in their side. He fought tirelessly to maintain The US Govt’s sovereign status and battled the Money Trust. Surprise surprise, his grandson winds up kidnapped and murdered. The father of the child Charles Lindbergh Jr. wound up leaving the country and becoming a Nazi sympathizer. Start digging into the real history of what happened.

    “Lindbergh found secret collusion between Southern and English bankers at the time of the Civil War, citing proofs in his 1913 book, Banking and Currency and the Money Trust. He published there the text of the 1862 “Hazard Circular,” which revealed how labor would henceforth be controlled by the amount of currency the bankers permitted in the market, since chattel slavery would be abolished by the war.”

    http://www.thefreelibrary.com/The+other+Charles+Lindbergh%3a+the+father+of+the+famous+aviator%2c+like…-a099164941

  • Jane

    The European Banking Cartel (headed by The Black Nobility) infiltrating our Federal Reserve in the 1920’s was basically so they could control the flow of money and essentially keep us in a perpetual state of slavery. Before they infiltrated The Federal Reserve System, The US was not only a very strong country but she was also debt free and neutral. They should teach real history in school, it is so much more interesting than the stuff they’ve made up.

  • JohnG

    Sure, Ben. We must all be crazy to even think that you and the lenders are stealing our Wealth by charging the US interest to create our money supply ever since 1913.

    I wonder if the lenders have twisted your arm as you make these statements?

    Me thinks lenders don’t like hearing us complain and threaten to send them packing…

  • jess

    Yea thats what we need nationalize Federal Reserve that way instead of borrowing money these idiots we elect can print it off that way they don’t have to pay the money back who wrote this Obama.

  • GC

    Knock it off with the Obama blame for the Federal Reserve, people. He wasn’t even BORN yet.

    Remember that a lot of the garbage we’re dealing with now had its roots in the Clinton administration, and after that, Bush II for two soul-sucking terms.

    The Obama blame here needs to stop – you people chase more red herrings than Congress does.

  • Anti Robot

    This is a great and viable plan. I thank God that there still exist honest and intelligent thinkers in this country who have the brains to propose a way out of this quagmire we’re in. But that said, I have NO hope in the American people if the latest political polls are anywhere near correct: a large portion of America is ready to vote for some former pizza czar who happens to have direct ties with the Federal Reserve: Herman Cain. Can you imagine the Fed putting in their own chosen one into the position of US President? ***************, we’re there. The public idiocracy is ready to vote him in, while the candidate who proposes to actually END the Fed, Ron Paul, is blown off by the mainstream media and brushed off by the average voter as “unelectable” . Yep, we’re screwed, America. Assume the position, morons.

  • http://paulglover.org/hours.html Paul Glover

    Re-connecting money to democratic control, backing money with real goods and services, and issuing money for community and national revitalization, can be achieved by creating credits outside the dollar and Federal Reserve system. ‘Labor: the New Gold Standard”

  • Captain Rob

    When I was not so young but still naive I fantasized about the equal distribution of wealth among all the world’s citizens. It was a harmless daydream really. But one day a realization came upon me that has forever squelched this fantasy for me; those that have the wealth and power now will in time take it all back again. These heartless, selfish, conniving, swindling bastards want just one thing – they want it all. They have always been a part of humanity and they always will be.

    • Jeffrey Conner

      To forstall any comments associating the phrase “equal distribution of wealth” with “communism” or “socialism” let us stress that a more “equal” financial playing field would by definition redistribute the wealth and economic power more fairly without being either of the latter. Rock on Captain Rob.

  • Jeffrey Conner

    Captain Rob
    November 27th, 2011 at 2:41 am, made a fine observation in line my previous post, which I will re-post here so no one has to search for it.

    “Jeffrey Conner
    November 7th, 2011 at 8:49 pm · Reply
    Here’s a question for everyone. Have any of you ever played or witnessed a game of Monopoly that didn’t eventually produce a winner? When someone wins at Monopoly the next step is for the winner to put all the deeds and money he or she has horded back into the common pile so that another game can start. The World we live in is no different than the game because the wealth and resources of the planet are FINITE. The problem we face is that those who control the most wealth don’t yet realize that they are only wealthy when “compared” to those who are not. If the middle class ceases to exist the whole system fails because poor “players” are already out of the game. If you don’t have a dollar to spend you aren’t important to the game anymore, and the whole game suffers a reduction in the flow of commerce. That’s bad for the global economy. We are in need of a paradigm shift concerning the nature of global commerce and trade. If sixty percent of the worlds population in “all” economies are poor. What would happen if they had paying jobs and a way to improve thier lives. Suddenly the world economy would experience huge surge of cash flow as these forgotten folks begin spending. It would be similar to putting a turbo charger on a car engine. The Rich would be happy because there would then be more things for them to “own”, and the poor would eat and have roof over their heads. Does this “not” make sense to anyone out there?

    You are right on the mark Captain Rob. Unfortunately I to say that I too cannot see a way out of our dilemma that doesn’t involve a nasty “revolution”. Including all that the word implies.

  • paul

    :D Yay! The key reason I don’t support ron paul is his position is to END the fed, destroy lots of government programs, abolish social security, etc. my only qualm with your article is your wording about “Eventually paying off the debt” I want to extrapolate some points from your above post, namely that the fed bailed out banks to the tune of 16.1 trillion dollars and make this point: it’s not the ammount of money in existence that drives inflation, it’s the ammount of money in CIRCULATION that drives inflation-And even if the ammount of money in circulation doubles it does not lead, even in the long term, to the value of the dollar decreasing by 50 percent. Inflation does not happen on a 1:1 ratio. and the evidence that the ammount of money in existence is irrelevent is right here. 16.1 trillion created: inflation not that much. All of that money went into liquidity traps-as it would if we just printed the money we owed all at once and paid it off. It would go into PRIVATE bank accounts and never see the light of day again. That is to say there’s no “eventually” about it-we could pay it off IMMEDIATELY without affecting the rate of inflation by much-at all. Then we could have a green new deal that retrains people and puts them back to work rebuilding americas infrastructure and helping us switch to alternative energy sources. This all might sound totally radical, but the national debt is a myth. Even if we paid it off all at once inflation would be a joke.

  • Peter J. Nickitas

    This column should have discussion of HR 2990, the NEED Act, which proposes issuance of U.S. Money, backed by the full, faith and credit of the United States (not FRN’s), make the Fed an agent of the Treasury, and prohibit fractional reserve banking.

    Money issuance must have a direct relationship to energy in a system. The energy may include petroleum, natural gas, solar, and nuclear energy inputs, as well as growing crops. Even Rep. Ron Paul calls for a link between the dollar and a basket that includes gold, oil, and food commodities. Every dollar is a claim on future energy expenditures, be it an hour of labor or a kilocalorie of burning petrol.

    Historically, currency as a function of prescribed masses of gold or silver serves the purpose of establishment of a floor for commodities, particularly foodstuffs. Thus, the perception of currency as a mass of gold or silver is misplaced.

    Money does not exist in nature, but by human-made law. When banisters make the money and laws, the rest of us suffer. When the people control the issuance and distribution of money, things work. Just as manure piled up in one place stinks, manure spread properly across acres of farms helps many crops grow.

    Change the way money works, or nothing will change.

  • Peter J. Nickitas

    “Banksters”, not “banisters”

  • http://spin_169@hotmail.com john

    charge the federal reserve bank , with crimes against the people. unlawfully collecting taxes of the the people( taxing labor, where they should only be taxing the corp.) how many people have they destroyed , put out into the streets, taken their properties ( farms, housing and freedom.). arrest them take all that they have. put them into the streets. confiscate all that have from committing crime. (drug dealers lose everything house ,money,cars and so on. for committing crimes).
    take them over, just as they have taken over the good old u.s.a

  • timothy price

    The Federal Reserve was created as a monopoly cabal of banks by a compromised Congress. Congress needed unlimited funds in order to finance wars to enhance their corporate war industry. The clandestine, unholy alliance between the Fed and Congress is a corrupt system for war profiteering.
    If the Congress cannot get instant credit form foreign banksters, but must rely upon taxes to support wars, then wars would stop, or be much less likely to occur. That would break the cookie jar for the Congress.
    Congress will never repeal the Federal Reserve Act. The people could through referendum or Constitutional Amendment.

  • Peter Litwin

    We can all piss and moan on the blogaspere all day long about the evils of the Fed, but nothing will ever change until we exercise our democratic rights and repeal Bank Acts 1, 2, 3 established in 1913.

  • The true

    Too much bla, bla, bla, bla but I see no body doing anything.
    We are all the one’s to get the blame, as a generation we haven’t done *************.
    Let’s face it, we are the shame of america.

  • Tim Gard

    It is time to close the fed and state governments down and re establish the American Constitution returning the guidance of the country to the towns where the people live as it was before WW1 and how it was meant to be. This is our only hope of holding on to any remnants of freedom. Not painless, but possible. Home rule as it was meant to be …

  • fiona

    This sounds too good to be true…but sad thing is would it be possible for us to eliminate Fed? When some of leaders take an initiative to get rid of Fed…they got killed..Remember President Lincon & Kennedy?

  • WARD

    Did you really mean to say “not”?
    This process creates a huge problem. When each new dollar is created, the interest owed by the federal government on that new dollar is not also created at the same time.

    • http://www.skepticink.com/tippling Bryant Cody Rudisill

      Absolutely; because when a dollar is created, the money to pay off the interest on that dollar is not also created. Meaning, we become further and further indebted with each new dollar note we borrow from the Feds.

  • Edward Bowles

    If every home owner in the US sold their home and gave the Government the money it would
    not pay off the national debt?We have been exposed to some of the most powerful Propaganda to control of the mind and opinion ever seen on earth. This propaganda comes in many forms, misinformation,
    disinformation, half-truths and deception. This propaganda comes through our mass media of radio, Television, Internet and Print News.
    Our Federal Government is a government of propaganda, and it’s aimed is to gain supreme
    control of our nation and destroy the power invested in WE THE PEOPLE which is guaranteed by our Constitution.
    Many people think this effort by the Federal Government started with the Obama
    administration which is not true. He is only one of many and is the end of a chain since the creation of our Constitution.
    Our Constitution was and is intended to act as a check against attempts by the executive branch to usurp power. Our Constitution is the longest-lasting
    standing written Constitution in the world, however it was written in broad form and it allows our courts legislators and adversative’s to make
    interpretations that are contrary to its original intent. It is simple words that have guaranteed our rights and liberties.
    We often misuse or misinterpret these words, to the point that we don’t understand their meaning anymore. This comes from the common occurrence of the political realm. Politicians love to attach arbitrary meaning to words and spout them repeatedly until that their meaning is accepted as definition.
    They’ve thrown the word “Democracy” around
    so much that we actually believe in it. America was not, and was never founded on democracy. We have a representative form of government which is a
    Republic. We now have a mission to spread “Democracy” around the world at the point of a gun that wedon’t even practice.

    Look at its one of the biggest violation of many in our history that is destroying our country.

    December 23,
    1913, our congress gave the bankers a Christmas gift of a life time. Congress passed the Federal Reserve Act, which officially took the power to create the
    money from the United States and turned it over to private Bankers, who called themselves the Federal Reserve Corporation. Notice the word “Federal” used in their name.
    Most American believe that the Federal
    Reserve is a government agency because the word “Federal” and this is exactly what the Bankers wanted, knowing the ignorance among the population of the time.

    The banking and currency reform plan approved by President Wilson in 1913 was sponsored by the chairmen of the House and Senate Banking and Currency committees, Representative Carter Glass, a Democrat of Virginia and Senator Robert Latham Owen, a Democrat of Oklahoma. After realizing what impact this bill would have on the country President Wilson and lamented and wrote the following: “

    I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and allour activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments, in the civilized world and no longer a Government by free opinion, no longer a
    Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men”.

    What he is saying, I had no intentions to ruin
    our country, and I did it ignorantly.

  • George

    The people controlling the media and education systems seem to be in collusion with the same people who control the federal reserve. Educating enough of the public to lead to a tipping point is the challenge.

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