Yep, here we are on the brink of an all out economic collapse that could easily rival the 1929 crash and subsequent depression. How did we, arguably the world’s greatest nation of all time, find ourselves teetering on the brink of an all out collapse? How is it that tens of thousands of retirees who were looking forward to a comfortable retirement are now trying to figure out how they will eat? These are the same retirees who bore the weight of building this once great nation on their backs with the promise of a pension and a Social Security check.
The answer is quite simple: We had some help from the Federal Government and the Federal Reserve. Before we get into how this has come to be, let’s first clear up a common misnomer. The Federal Reserve is not “federal” at all. That’s right. It is no more federal than Federal Express. The Federal Reserve is a “for profit” corporation and, to my knowledge, the only “for profit” corporation that operates on U.S. soil yet pays no Federal or State taxes.
What exactly is the Federal Reserve? The Federal Reserve is the company in charge of printing the nation’s currency and setting its value. The Federal Reserve prints money (basically from thin air) by paying the U.S Bureau of Engraving a couple of cents per note for printing costs. It then loans the money to the American people at interest. This is where our “national debt” comes from (more on this later). The problems with this system are many, but, let’s start with the U.S. Constitution and see what it has to say.
Article 1, Section 8 of the Constitution says in part, “The Congress shall have the power to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures.”
In 1913, through passage of the Federal Reserve Act, Congress gave the power to coin money and to regulate its value to a group of international bankers which in turn then loans this money to the U.S. Government and its people at interest. This group of international bankers forms a cartel of wealth beyond comparison.
These bankers own stock (the stock is not publically traded) in the Federal Reserve System. The Federal Reserve System collects the interest and distributes it annually to its shareholders (the international group of bankers) which makes the shareholders very wealthy. So, basically, while Americans are becoming poorer, this international group of bankers is becoming richer.
Imagine for a minute that you had the power to create money from nothing and the ability to circulate any amount of currency into the nation’s economy that you saw fit. If you could actually do this, you would instantly have the power to create boom and bust periods at your own whim. Want a boom period? Flood the nation with currency and every bank has money to lend and everybody has money to spend, and, spend we do buying more than we can afford. Prices rise due to the influx of currency giving the illusion of added value to one’s holdings, and, with no end in sight to the good times, what’s the worry, right? Want a bust period? Contract the nation’s money supply and nobody has money to lend and we slide into recession. The bankers then collect our properties through mass foreclosure. This is the very power that the Federal Reserve possesses, and, in my humble opinion, is exactly what we are witnessing today.
If the system is so bad, why hasn’t anyone done anything to stop it? Since its inception, the Federal Reserve has not been audited. There is currently a Bill moving through the House and Senate, sponsored in part by Congressman Ron Paul (R) Texas, to have the Federal Reserve audited. Although this would be a step in the right direction because it would raise awareness that there may be something wrong with the Federal Reserve System, I fear that any efforts to audit the Federal Reserve would be met with futility. They will simply show us what they want us to see and nothing more. This is exactly what they have been doing since 1913.
Most of our elected politicians are keenly aware of how the Federal Reserve System operates. Many of them have been elected through the use of unlimited financial backing from the corrupt bankers in return for favorable voting on legislation which aids the Federal Reserve in its endeavors. This goes back to the very beginnings of the Federal Reserve. President Woodrow Wilson, prior to being elected, badly needed financial support to pay for his campaign. He agreed, albeit reluctantly, that if elected, he would sign the Federal Reserve Act into law. After being elected, he later commented in reference to the passage of the Federal Reserve Act, “I have unwittingly ruined my country.”
Outside of Congressman Paul, there have been several other politicians who have stood up against the Federal Reserve and the cartel running it. I will begin by giving my opinion of the single best attempt by any politician to stop the Federal Reserve from systematically stealing the wealth of America.
On June 4, 1963, President John F. Kennedy signed Executive Order 11,110. This Executive Order would have effectively put the Federal Reserve out of business. The order essentially said that the Federal Reserve could no longer issue worthless paper and charge the government interest. The Executive Order gave authority to the U.S. Treasury to create “Silver Certificates” or United States Notes based upon the amount of silver held by the Treasury as the Constitution dictates. Article 1, Section 10 of the Constitution states in part, “No state shall . . . make anything but gold and silver coin a tender in payment of debt.”
Shortly after the Executive Order was signed, the Treasury began to create and circulate these Silver Certificates replacing the Federal Reserve Notes. Some of us are old enough to remember these Silver Certificates. They promised to pay the bearer the amount noted in silver and pay it on demand. Unfortunately for each and every American, the circulation of these Silver Certificates was short lived. Just shy of five months later, President John F. Kennedy was assassinated in Dallas, Texas. The Silver Certificates were pulled from circulation, and we went right back to the Federal Reserve Notes without any other Executive Order to do so.
