Most are not aware that the Federal Reserve Bank, hereinafter called the Fed, is a private, central bank owned by International Bankers. Although the Fed masquerades as a government institution it”s no more a government institution than Federal Express (FedEx). Even though the Fed performs all the functions of a central bank, its name misleads the public into believing that it operates on their behalf. Under the Federal Reserve Act of 1913, this adoption of a central bank was sneaked into the republic, allowing private bankers to create money out of thin air, actually credit, and loan it to the United States at high interest rates.
The U.S. Constitution clearly states in Article 1 Section 8: “The Congress shall have Power To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.”
With every U.S. dollar borrowed from the Fed, a credit is recorded on the Fed”s behalf and a debit, including interest, is posted on behalf of the American public. Debt is slavery!
The actual U.S. national debt owed to the international bankers who make up the Federal Reserve Board, including the IOUs in the Social Security Fund, the IOUs in the Medicare Fund and all the rest of the debts normally uncounted in government statistics, is approximately $62 trillion.
The Fed Chairman, Ben Bernanke, admitted that the Fed caused the 1929 Wall Street crash. There is no doubt in my mind that the recent housing boom and bust that is destroying the economy of the world today is a direct result of the actions by the previous Fed Chairman, Alan Greenspan.
Henry Paulson was Chief Operating Officer of Goldman Sachs averaging around $37 million a year, with $700 million in Goldman Sachs shares. Paulson left Goldman Sachs to become U.S. Secretary of the Treasury at a salary of $174,000 a year. On Sept. 19, 2008, Paulson, along with Bernanke, obtained $700 billion dollars from Congress. Paulson, given complete authority of this money by the House, Senate, and president of the United States gave American Investment Group (AIG) $200 billion, of which AIG gave Goldman Sachs $12.9 billion, enriching Goldman Sachs” shareholders, including Paulson, immensely.
This debt is not repaid by the government. The government, in and of itself, has no money; it”s paid by you, the taxpayer. You provide the money through taxes and inflation. The annual cost is currently about $10,500 per family of four. All families pay through inflation but not all pay through taxes, which makes the cost per family much higher. None of this money goes for government services such as welfare or medical benefits; nothing is produced by it, not even roads or government buildings; no salaries are paid, thus the standard of living isn”t even raised. That money does nothing but pay the interest on the national debt, approximately 52 percent of all revenue collected by personal income taxes is being consumed by the interest on the national debt. Amazing, without interest on the national debt, we would save enough to cut our personal income taxes in half.
Over the years, various loyal men in Congress have introduced bills to repeal the Federal Reserve Act of 1913, and to redeem control of our money system. None of them have been acted upon by our alleged representatives, who are sworn to uphold our Constitution.
Rep. Ron Paul, the only member of the House, or Senate for that matter, worth his salt, sponsored H.R. 1207, a bill requiring that the Federal Reserve be opened to audit by Congress. The plan compiled over 300 co-sponsors in the House before being sent to committee.
But in an interview with a Bloomberg reporter, Paul said “The teeth have been ripped out of the bill and there”s nothing left; it”s been gutted. This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation would help them do that.”
Like an octopus, the tentacles of this corrupt group of men have infiltrated the Executive, the Legislative, and the judicial branches of government. So I ask, at this late date can they be stopped? And with all sincerity my answer is a resounding only with a miracle. I say miracle because that”s what it”d take to get enough Americans to demand that their representative put an end to the Fed.
Al Duncan is a local real estate broker, businessman and author of The Master Plan. He will be writing Views and News on a regular basis.
