W8_4_It

Interesting read.

Our money is a fiat currency. Its monopoly money. It's backed by a mere promise.

With that said, I own stocks, bonds etc. But it's really all just monopoly money that could disappear tomorrow in a crash.

It's not real until you buy something with it, be it real estate like a home or investment property, tools like handtools or firearms, food etc.

And even then as Alice pointed out, there are taxes to paid on real estate.

Currencies can devalue overnight.

The greenback is doing very well right now. Lets hope it stays that way.

stymie

Welcome Alice, finally a voice of intelligence and reason among many from the opposite side here on OPP. I agree with practically everything you said except the part about America's greatness is "Bulls**t" Please do not denigrate what so many have fought and died to preserve. America is "great" and simply put that is why we are so h**ed around the world. Look what has been accomplished by America in such a short history compared to the rest of this place we call Earth. Are we perfect? No, but we are closer than the rest. However, back to the reason I'm responding and that is to say; "Great Comments" and look forward to more. What do you think Marvin?

Alice Maxwell

Our greenback is not doing well. The Congress gave the right to print money to the Fed because it was the only way they could shovel the treasury bonds out fast enough to cover our government's bankruptcy. The "secret" Fed would print the money,(really imput electronic t***sfers)buy the treasury's paper, and the buyers would be the banks here and abroad for their "reserves",the stash of cash needed whenever there would be a run on the banks.

Wow you can see it now. People clamoring for wh**ever cash they have in their accounts at the bank's closed doors and all they have in the vaults are treasury bonds denominated in what? The Fed can print more dollars but will it be fast enough to keep the banks from being demolished by angry people? I don't think so and neither does the Fed. That's why they want the cashless society. They dream they can make electronic credits faster through ATMs and maybe save the buildings. That is a pipe dream too! That's why they have modified that and want the credits to be on your smart phones so you can wave them and get what you want, no banks,no machines involved that people can trash! You want to bet on that. I won't!

The only real cash in the world now is the petrodollar, almost all held by OPEC, because you can get barrels of oil for them, if you can use barrels of oil! Gold and silver will buy more but at 1500 a gold coin, you will not get any change back unless you find a millionaire with cash. Silver is more like it. It is more likely in the small stores you will be entered in a notebook as you buy things and since you are known, they will trust you to redeem when you can. It beats having stuff go bad or stolen when the mobs come by. Others will just barter with what they have in portable goods.

I know these things because after WWII,my husband and I went abroad to rebuild the world and guess what,there was no cash so we bartered to get what was necessary to operate facilities even for Procter and Gamble in far flung places. Our best investors were people who wanted soap and margarine and helped us find the stuff needed to get going again. There were some natives but usually the most help came from the overseas Chinese who knew the country better than the natives no matter what country we were in. Almost every village in our world has a Chinese trader or cook in business, even in darkest Africa and they don't sit around waiting for welfare, they scrounge and they know more about what is where than the natives.

Dream on about the greenback. Stash them since they are recognizable and some will take a chance they come back. There are people who cherish still continental and confederate bucks!

Alice Maxwell

We are not great as a nation, we are fortunate to have resided in a new discovery with vast expanse and we were left here to use our brains and harness what we could find to our needs. That great work is what made America.

Today we are another nation with too many takers and leaders who play the ones with loud wants and mouths against those still trying to be like americans were. in essence we have become like the overused nations of Europe, Asia, with too many people just sitting on their backsides waiting for the givenment to take care of them!

W8_4_It

Actually many people hold physical gold and other useful commodities like guns and ammunition or preserved food stores.

The end of the dollar as the US world reserve currency is imminent.

The growth of the shadow economy in the US has been huge over the last few years. People working off the books, bartering etc. The makers are tired of giving to the takers.

I agree with Alice that there are far too many takers and not enough makers in our economy.

J Anthony Loc: Connecticut

Would you also agree that many of the "takers" that you disparage are holding the reigns of power? Because they are.

buffalo Loc: Texas

Here you go, Roy:


YOU OWE IT TO YOURSELF AND YOUR COUNTRY TO LEARN HOW EASILY AND QUICKLY MOST
OF AMERICAS PROBLEMS COULD BE SOLVED.
WHO OWNS THE PRIVATELY OWNED FEDERAL RESERVE?
The privately owned Federal Reserve is not a government agency. The
privately owned Federal Reserve Bank (The Fed) is privately owned by a group
of primarily foreign bankers. In 1913, Congress sank America into eternal
debt by giving the power to issue currency and control the American economic
system to the privately owned Federal Reserve Bank. Who are the owners or
chief shareholders of the privately owned Federal Reserve? Originally,
there were reportedly 203,053 shares of privately owned Federal Reserve
stock, of which approximately 65% were owned by foreigners and approximately
35%(72,000 shares) were:
1. Rockefellers' National City Bank = 30,000 shares
2. Chase National = 6,000 shares (currently Chase Manhattan and owned by
David Rockefeller)
3. The National Bank of Commerce = 21,000 shares (now known as Morgan
Guaranty Trust)
4. Morgans' First national Bank = 15,000 shares
Interestingly, the total shares owned by Rockefellers interests equal
36,000 shares and the total of Morgans' equals 36,000 shares.
Although the privately owned Federal Reserve Act of 1913 provided the names
of the owner banks be kept a secret, R.E. McMaster, publisher of the
newsletter" The Reaper" discovered, through confidential Swiss banking
connections, that the following banks have controlling interest in the
privately owned Federal Reserve
1. Rothschild Banks of London and Berlin
2. Lazard Brothers Bank of Paris
3. Israel Moses Sieff Banks of Italy
4. Warburg Bank of Hamburg, Germany and Amsterdam
5. Kuhn Loeb Bank of New York
6. Lehman Brothers Bank of New York
7. Goldman Sachs Bank of New York
8. Chase Manhattan Bank of New York (Controlled By Rockefellers)

In his impeccably researched book "Secrets of the Privately Owned Federal
Reserve", Eustace Mullins states: "Because the privately owned Federal
Reserve Bank of New York sets interest rates and controls the daily supply
of price of currency throughout America, the owners of that bank are the
real directors of that whole system. These shareholders have controlled our
political and economic destinies since 1913." Those shareholders making up
Mullins' list are almost identical to the one compiled by the Swiss banking
source.
1. The Rothschild's
2. Lazard Freres (Eugene Mayer)
3. Israel Sieff
4. Kuhn Loeb Company
5. Warburg Company
6. Lehman Brothers
7. Goldman Sachs
8. The Rockefeller family and J.P. Morgan interests

Sounds like a real group of American Patriots, doesn't it!
THE INVISIBLE GOVERNMENT
The day before the privately owned Federal Reserve Act passed, Congressman
Charles Lindberg Sr. said: "The money trust deliberately caused the 1907
money panic and thereby forced Congress to create a National Monetary
Commission which led to the ultimate creation of the privately owned Federal
Reserve Bank. The Federal Reserve Act establishes the most gigantic
monetary trust on earth. When the President signs the bill, the invisible
government of the Monetary Powers will be legalized. The people must make a
declaration of independence to relieve themselves from the Monetary Powers,
by taking control of Congress!... The worst legislative crime of the ages
is perpetrated by this banking bill. The caucus and the party bosses have
again operated and prevented the people from getting the benefit of their
own government!" How did the monetary powers manipulate the passage of the
Federal Reserve Act?
Senator Nelson Aldrich was named as chairman of the Monetary Commission,
which was like naming a cat to design the canary cage. Aldrich was the
maternal grandfather of Nelson Aldrich Rockefeller of Standard Oil and Chase
Manhattan Bank, through the marriage of his daughter, Abby Greene Aldrich to
John D. Rockefeller Jr. The Rockefellers have been the largest
beneficiaries of the privately owned Federal Reserve Bank. The chief
architect of the plan was Paul Warburg, a Rothschild agent who was salaried
at $500,000.00 a year (equivalent to about 5 million dollars today).
Another member of the monetary commission was Jacob Schiff of Kuhn-Loeb and
Co., who helped finance the Bolshevik revolution in Russia with a $20
Million contribution. Schiff was born in a home shared with the Rothschild'
s in Frankfurt, Germany.
On November 22, 1910, Aldrich and the rest of the Monetary Commission met
at a private hunting club of J.P. Morgan on Jekyll Island, Georgia, to draft
a bill that would put the economic future of the United States into the
hands of a few private Money Powers. The original bill was the highly
unpopular Owen-Glass Bill. The name of the bill was later changed to the
Federal Reserve Act. The timing of the v**e for the Federal Reserve Act was
engineered by its promoters. It was passed hastily in effort to break for
Christmas on December 23, 1913, while the majority of opposing Congressmen
were on Christmas vacation. Then, when elected, the banker financed
Woodrow Wilson immediately signed the Federal Reserve Act.
Within months of starting the privately owned Federal Reserve, individual
Income Taxes were created to pay for this new bankers' interest expense.
The taxes of American Citizens pay the interest on all new "debt
certificate" currency and credit issued by the privately owned Federal
Reserve. Where does the privately owned Federal Reserve spend the mass
profits it extorts from the labor of our People? Dr. Antony Sutton, author
of "Wall Street and the Bolshevik Revolution" (Arlington House Publishers,
Rochelle, N.Y., 1974), provides some insight. He conducted exhaustive
research through American, Canadian and German government archives and
discovered solid evidence, which he painstakingly documented, proving that
many American Capitalists, primarily the JP Morgan (US Steel) interests
provided financial support for the Bolshevik Revolution in Russia.
Also, William B. Thompson, Director of the US Federal Reserve Bank of New
York, provided the Bolsheviks significant monetary support. Dr. Sutton
stated "If Thompson had not been in Russia in 1917, subsequent history might
have followed quite a different course. Without the financial, diplomatic
and propaganda assistance given by Thompson and his associates to Trotsky
and Lenin, The Bolsheviks may well have quickly withered away.
MONEY FROM NOTHING
Ask yourself this question, "If you were given a monetary printing press
and a legal contract to print and issue all the money you would ever need to
run your household at no cost to you, would you, instead, give that printing
press and contract to a banker and agree to borrow your money from him, to
be repaid in full with interest?" I don't think so. The government has
done exactly that. The most awesome power America has is the power to
CREATE, using as collateral the future productivity of its Citizens, all of
the currency and credit we would ever need to run our government,
prosperously! Instead, America has legislated away this priceless power of
monetary and credit creation to a group of primarily foreign, self-serving
bankers! According to the Supreme Court, this t******r of p***r is in
direct violation of the law.
"Congress may not abdicate or t***sfer to others its legitimate functions"
Schechter Pultry v U.S. 29 U.S. 495, 55 U.S. 837.842 (1935) Following is a
simplified explanation of the inane method in which currency
and credit is currently created in the United States. This system benefits
a few elitists at an exorbitant cost to We the People! The average American
contributes one third of his hard earned dollars to support this corruption!
Let's say, for example, that to carry out its legitimate functions, the
United States needs $300 billion in credit and $100 million in currency :
1. The U.S. Bureau of Printing and Engraving at the U.S. Treasury is
instructed to print $100 million in Federal Reserve Notes, as currency for
the privately owned Federal Reserve.
2. The privately owned Federal Reserve System pays the U.S. Bureau of
Printing and Engraving $20.60 per 1000 bills it prints! That is
approximately two and a half cents for each bill, regardless of their face
denomination, ie. $1, $5, $10, $20, $50, $100 bill. WHAT A DEAL!!
3. Next, the United States orders the same U.S. Bureau of Printing and
Engraving to print $300 billion, $100 million worth of U.S. Treasury Bonds.
4. The privately owned Federal Reserve then purchases $100 million of U.S.
Treasury Bonds (redeemable at full face value plus interest) from the United
States. To pay for these, the Fed uses the privately owned Federal
Reserve Notes that they just purchased for two and a half cents per bill!
Next, the privately owned Federal Reserve purchases the other $300 billion
in U.S. Bonds with a simple ten second computer entry that t***sfers $300
billion in "credit" into the United States' Treasury account. Where did the
privately owned Federal Reserve System get the $300 billion? It created it
from NOTHING.
The People are then obligated to repay the privately owned Federal Reserve,
with their tax dollars, at full face value, plus interest (which is
converted to gold at par, through the International Monetary Fund). The
privately owned Federal Reserve Notes and federal government credits were
created for virtually nothing.
Conversely, the repayment of just the interest on these bonds requires a
Citizens' physical labor from approximately January 1st until May 1st and
giving 100% of their substance to the privately owned Federal Reserve. What
does the privately owned Federal Reserve or the federal government give back
to We the People in exchange for the sweat of our brow? NOTHING! ZIP! NADA!
That constitutes servitude without just compensation.
COST TO WE THE PEOPLE: $300 Billion, $100 Million, plus continuously
compounding interest.
COST TO THE PRIVATELY OWNED FEDERAL RESERVE: About $26,000

"PERMIT ME TO CONTROL THE CURRENCY OF A NATION AND I CARE NOT WHO MAKES ITS
LAWS!" Baron de Rothschild
THE POWER OF MONETARY AND CREDIT CREATION
Where does the privately owned Federal Reserve get its money? IT CREATES IT
FROM THIN AIR!
The privately owned Federal Reserve has created a debt based economy. It
creates nothing. Every dollar that America spends, it borrows from someone
else. Every privately owned Federal Reserve note in your wallet is nothing
more than a debt certificate. America has given its greatest power,
monetary creation, to the privately owned Federal Reserve.
MONEY FACTS: House Banking and Currency Committee, 1964, pp. 9, states:
"The privately owned Federal Reserve Banks create Federal Reserve Notes out
of thin air to buy government bonds from the United States
Treasury by lending into circulation at interest and by bookkeeping entries
of checkbook credit to the United States Treasury. The Treasury writes up
an interest bearing bond for one billion dollars. The privately owned
Federal Reserve gives the Treasury a one billion dollar credit for the bond,
it has created from nothing. This is one billion dollar debt which the
American people are obligated to pay full, with interest."
A publication called, "PUTTING IT SIMPLY", by the Boston Federal Reserve
Bank, sums it up as:
"When you or I write a check there must be sufficient
funds in our account to cover that check, but when the privately owned
Federal Reserve writes a check, it is CREATING money."
LOGIC ECONOMICS
In reality money is not created from thin air. The backing or value of the
dollar does NOT exist at its creation, but by its redemption. It is not
gold or silver that backs our currency but the willingness by the American
people to exchange that currency for raw materials, goods, services,
manpower and brainpower! In other words, the REAL collateral behind the
dollar is the American Peoples productivity. This is a commodity in which
America is extremely rich in! If you use currency to buy food, it is the
food that gives the currency value. The food has value without the
currency, but the currency has no value without the food or other valuable
substance or service. The creator of the currency merely prints "Notes"
that we exchange among each other for goods and services. Currency is,
simply put, barter certificates. Although gold and silver, because of their
intrinsic value, are an excellent hedge against FED engineered inflation. It
is the productivity of the American people that gives currency its
purchasing value. If we all refused to use privately owned Federal Reserve
notes for our exchanges, the Feds currency would have absolutely NO VALUE.
Someone has to create currency if we are to have a medium of exchange other
than direct bartering. The biggest mistake in American history was to give
this awesome creative power to the privately owned Federal Reserve! Because
it is the productivity of the people that is collateralizing the currency,
it should be
the people that benefit by its creation. the Congress should immediately
take back the power of legislative monetary and credit creation, with
safeguards, for the benefit of prosperity of the American People!
THE LINCOLN ASSASSINATION
John Wilkes Booth, who assassinated Lincoln, was a member of the Knights of
the Golden Circle which was controlled by the bankers. Bismark, the
Chancellor of Germany, made the following comments about the death of
Lincoln. "The death of Lincoln was a disaster for Christendom. There was
no man in the United States great enough to wear his boots and the bankers
went anew to grab the riches. I fear that foreign bankers with their
craftiness and tortuous tricks will entirely control the exuberant riches of
America and use it systematically to corrupt modern civilization."
THE NATIONAL BANKING ACT OF 1863
After Lincolns' unborrowed Greenbacks were sufficiently and
falsely discredited by inflation creating shenanigans of the bankers, the
Greenback Act was revoked and replaced by the National Banking Act of 1863.
Americans, once again, became the servants of the monetary powers! The
National Banking Act of 1863 was passed after Salmon P. Chase, Secretary of
the Treasury, and the Congress succumbed to the pressure of the bankers.
Initially, the Greenbacks and Bank Notes were both utilized as
currency. However, after President Lincolns' assassination, the end of the
Greenback came with an Act passed on April 12, 1866. This banker supported
Act authorized the Secretary of the Treasury to sell bonds and use the
proceeds to retire all United States currency, including the Greenbacks. At
a time when the money supply should have been increased to reconstruct the
United States after the civil War, the money powers, instead contracted it
over the next ten years, as more and more money was destroyed and not
replaced. Bankruptcies and business losses soared! this was because when
money is scarce, banks loan fewer and fewer businesses the money they need
to stimulate the economy. Then the businesses lay off workers, who lose
their homes because they can't make their mortgage payments. The bankers
then make a clean sweep with property foreclosures, picking up businesses
and citizens property for pennies on the dollar. They have created credits
out of thin air and converted them into real property! This is exactly what
is happening today, on an even more disastrous scale. Now the bank goes
bankrupt, the FDIC (a federal government agency) seizes the bank. Then when
the federal government can no longer make its interest payments, the
privately owned Federal Reserve and International Monetary Fund will seize
the assets of the federal government. Businesses and private homes
ultimately end up in the hands of the International Government..... no
private ownership, no free enterprise... instant socialism without a shot
fired! Like others who sold out their Country to the bankers before him,
Secretary of Treasury, Chase, had a stab of conscience before dying stating:
"Promoting the National Bank Act, through my agency, was the greatest
financial mistake of my life! It has built up a monopoly which effects
every interest in the country. It should be repealed." Without a doubt, if
America is to be saved, the Federal Reserve Act must also be repealed! It
is more corrupt and detrimental to America than any Banking Act in history!
How have the monetary powers managed to buffalo the Congress and the People
for so long? Following is an example of the smoke-screen propaganda created
by the bankers and fed to Congress. This is the type of ridiculous rhetoric
that has kept banking vultures in power for over 80 years!
House of Representatives 88th Congress, 32nd Session ".....it has
long been one of the political facts of life that private banks must be able
to create the lions' share of the money, if not all the money. Thus there
is little opposition to the government's printing bonds and then permitting
the banks to create the money with which to buy these bonds; but proposals
that the government itself create the money instead of the bonds have always
set off tremendous political upheavals (among who? Other bankers!) Bankers
are politically very powerful. For example,
Abraham Lincoln set off a political furor when he insisted upon having the
government issue $346 million dollars instead of issuing interest-bearing
bonds and paying interest.
A free thinking American might ask, "Why is this ridiculous
policy of giving the banks power to create money out of thin air to buy U.S.
Treasury Bonds at full face value plus interest a political fact of life!"
It is the American workers tax dollars that must pay the interest and
eventually the full principal on these bonds! Who was setting off these
political upheavals? Certainly not the Americans who would no longer have
to pay income taxes... not the Americans who would no longer have their hard
earned dollars eaten away by the rampant inflation we have experienced since
the FED took over our monetary system in 1913...It is not the American
People who have had all their gold and silver stolen by the FED and who
would, without a doubt, be the greatest beneficiaries of a debt free
currency. Of course, it was and still is, the ulterior motivated FED
banking powers themselves and the corrupt pockets they are filling who are
creating this furor.
Why are they so "furious"? The answer appears in this
editorial which appeared in the London Times, a paper controlled by the
Rothchild banking dynasty. It was written at the time Lincoln was taking
action to create an un-borrowed currency. READ THIS MORE THAN ONCE.. Its
"arguments" summarize the magnificent benefits of creating Americas' own
debt-free un-borrowed currency! These are the exact reasons that our
Country SHOULD create a currency and credit of its own.
QUOTE: If this mischievous financial policy (of creating a debt-free
currency), which has its origin in the American Republic, shall become
permanent, then that government will furnish its own money without cost! It
will pay off its debs and be without debt. It will have all the money to
carry on its commerce. It will become prosperous without precedent in the
history of the world. The brains and the wealth of all countries will go to
America. That government must be destroyed or it will destroy every
monarchy on the globe! END QUOTE.
A debt-free American Currency would be a sad day in the
history of the monetary powers. However, it would be the happiest day in
the history of America! Logic confirms that America must have its own
debt-free, unborrowed currency. Ultimately, to be lawful money, it must be
backed by gold and silver: but even un-backed debt-free American Currency
is superior to un-backed privately owned Federal Reserve debt Notes!
LINCOLN DEFIES THE BANKING VULTURES!
When the civil war was instigated, the Union originally looked to the
European Bankers to loan them money to finance the war. Thinking they had
Lincoln at their mercy, they overstepped themselves by demanding 24%-36%
interest. This was Lincoln's opinion of bankers: "The money powers prey upon
the nation in times of peace and conspire against it in times of adversity.
It is more despotic than a monarchy, more insolent than autocracy and more
selfish that a bureaucracy. It denounces, as public enemies, all who
question its methods or throw light upon its
crimes. I have two great enemies, the Southern Army in front of me and the
bankers in the rear. Of the two, the one at the rear is my greatest foe."
Angered at the bankers, in Acts of February 25th and March 4th, 1862,
Abraham Lincoln persuaded Congress to authorize the U.S. Treasury to issue
$450 million dollars in United States Notes (currency) to finance the Civil
War. These issues of currency were full legal tender and debt-free and
interest-free. Because of the green ink used on the back of these bills,
they were called "greenbacks." Lincoln not only [ as an aside action ]
freed B***k A******ns from human s***ery, he temporarily freed all Americans
from monetary s***ery!
After the Congress passed this powerful law, Lincoln said this:
"We have given the People of this Republic the greatest blessing they have
ever had, their own currency to pay their own debts." A debt-free currency
was a blessing for Americans and the "kiss of death" for the world bankers.
The bankers fought back furiously with incredible amounts of money!
It is a fallacy to think, as many do, that the greenbacks were
inflationary. This was propaganda, again used by the money powers to
erroneously convince the people a national currency was destructive.
Following is a summary of their tactics. Within four days of the issuance
of the greenbacks, outraged bankers met to propose a scheme to lobby
Congress to strip the Greenbacks of their full legal tender status. They
succeeded by influencing Congress to add an "Exception Clause" to the law.
This clause required that duties on imports and interest on the public debt
(owed to the bankers) could be paid only in gold. The bank then added a
185% surcharge on the price of gold purchased with Greenbacks! This meant
importers had to exchange $285 dollars in greenbacks for $100 dollars worth
of gold! This exchange, in itself, made the People think that Greenbacks
must be inflationary. Of course, the
importers then had to take this 185% increase and add it to the cost of
their goods. This resulted in dramatic price increases causing People to
falsely believe the Greenbacks were inflationary. It was the bankers and
their outrageous surcharges on Greenbacks that created the price increases.
NOT THE GREENBACKS!
The Prosperity Of UnBorrowed Currency and Credit. There were a few times
in history that nations used the power of creating an unborrowed currency to
eliminate their debts and bring their country into prosperity. However,
when the nations stopped borrowing money from the world bankers, a furor
was always created, not among the People but among the banking vultures.
The bankers would use their vast sources of money and power to artificially
engineer problems that they could blame on the unborrowed currency!
When Henry I became King of England in 1100 A.D., he found the treasury
completely empty. England's entire supply of gold and silver had gone with
the Crusaders to Palestine. Rather than borrow money from world
banks, he issued into circulation Englands' own unborrowed currency called
"tallies". That was the richest time in England 's history. There was no
debt, no interest, and no inflation. For almost 700 years, England used
this unborrowed money created and issued by the King. This caused a
prosperous utopia for the working people of England. This is the
unprecedented period in the history of creative genius known as the
Renaissance. The death toll for the prosperous Renaissance era came in 1694
when King William of Orange granted a charter to William Paterson and his
world banker associates to establish the Bank of England as a fractional
reserve central bank. The Bank of England has had a direct bearing on
banking in America.
The roots of our War of Independence can be traced back to the Kings
objection to the creation and issuance by the colonies of their own paper
money, beginning with 7000 pounds issued by Massachusetts in 1690, and
culminating with the issue of 'Colonials' as an unborrowed currency by the
Continental Congress. In 1763, Benjamin Franklin was in England and was
asked to explain why the colonies were so prosperous, while England was
suffering. He said "That's simple. It's only because in the Colonies we
issue our own money called 'Colonial Script'.
When this conversation got back to the Bank of England, they forced
England's Parliament to pass a Bill prohibiting the Colonies from issuing
their own money. Franklin said "Within one year from the date Parliament
passed this Bill, the streets of the Colonies were filled with unemployed
Americans." Later he stated that the War of Independence was caused by
taking away the Citizens' unborrowed Colonials. In Franklins' words "The
Colonies would gladly have borne the little tax on tea and other matters,
had it not been that England took away from the Colonies their money, which
created unemployment and dissatisfaction." During the war, a new unborrowed
currency called "Continentals" was issued.
THE DEBAUCHED CONTINENTALS
The English then debauched (corrupted) the Continentals by bringing in
massive shiploads of counterfeit Continentals to the colonies. This caused
a significant "overabundance" of money in circulation, which created
inflation. Although who creates the currency has no effect on inflation,
too much currency in circulation, competing for identical goods and services
can competitively increase prices.
The People did have 73 years of debt free prosperity before the English
bankers and their engineered inflation succeeded in debauching their debt
free currency! Thomas Jefferson once stated that if he could change just
one part of the Constitution, it would be to prohibit the United States from
borrowing!

THE BOAZ TRUST
777 River Run Road
Canton, North Carolina 28716
http://www.1040taxfree.com/FederalReserve.htm

Subject: JFK vs. The Federal Reserve.
"The high office of the President has been used to foment a plot to
destroy the Americans freedom and before I leave office I must inform the
Citizen of his plight." PRESIDENT JOHN F. KENNEDY(10 days before he was
murdered)
On June 4, 1963, a virtually unknown P**********l decree, Executive Order
11110, was signed with the authority to basically strip the Federal Reserve
Bank of its power to loan money to the United States Federal Government at
interest. With the stroke of a pen, President Kennedy declared that the
privately owned Federal Reserve Bank would soon be out of business. The
Christian Common Law Institute has exhaustively researched this matter
through the Federal Register and Library of Congress and can now safely
conclude that this Executive Order has never been repealed, amended, or
superceded by any subsequent Executive Order. In simple terms, it is still
valid.
When President John Fitzgerald Kennedy - the author of Profiles in
Courage -signed this Order, it returned to the federal government,
specifically the Treasury Department, the Constitutional power to create and
issue currency -money - without going through the privately owned Federal
Reserve Bank.
President Kennedy's Executive Order 11110 [the full text is displayed
further below] gave the Treasury Department the explicit authority:
"to issue silver certificates against any silver bullion, silver, or
standard silver dollars in the Treasury."
This means that for every ounce of silver in the U.S. Treasury's vault, the
government could introduce new money into circulation based on the silver
bullion physically held there. As a result, more than $4 billion in United
States Notes were brought into circulation in $2 and $5 denominations. $10
and $20 United States Notes were never circulated but were being printed by
the Treasury Department when Kennedy was assassinated. It appears obvious
that President Kennedy knew the Federal Reserve Notes being used as the
purported legal currency were contrary to the Constitution of the United
States of America. "United States Notes" were issued as an interest-free and
debt-free currency backed by silver reserves in the U.S. Treasury.
In the illustrations below, a "Federal Reserve Note" issued from the
private central bank of the United States (the Federal Reserve Bank a/k/a
Federal Reserve System), is compared with a "United States Note" from the
U.S. Treasury issued by President Kennedy's Executive Order. They almost
look alike, except one says "Federal Reserve Note" on the top while the
other says "United States Note". Also, the Federal Reserve Note has a green
seal and serial number while the United States Note has a red seal and
serial number.
President Kennedy was assassinated on November 22, 1963 and the United
States Notes he had issued were immediately taken out of circulation.
Federal Reserve Notes continued to serve as the legal currency of the
nation. According to the United States Secret Service, 99% of all U.S. paper
"currency" circulating in 1999 are Federal Reserve Notes.
Kennedy knew that if the silver-backed United States Notes were widely
circulated, they would have eliminated the demand for Federal Reserve Notes.
This is a very simple matter of economics. The USN was backed by silver and
the FRN was not backed by anything of intrinsic value. Executive Order 11110
should have prevented the national debt from reaching its current level
(virtually all of the nearly $9 trillion in federal debt has been created
since 1963) if LBJ or any subsequent President were to enforce it. It would
have almost immediately given the U.S. Government the ability to repay its
debt without going to the private Federal Reserve Banks and being charged
interest to create new "money". Executive Order 11110 gave the U.S.A. the
ability to, once again, create its own money backed by silver and real value
worth something.
Again, just five months after Kennedy was assassinated, no more of the
Series 1958 "Silver Certificates" were issued either, and they were
subsequently removed from circulation.
Perhaps the assassination of JFK was a warning to all future
presidents not to interfere with the private Federal Reserve's control over
the creation of money. It seems very apparent that President Kennedy
challenged the "powers that exist behind U.S. and world finance". With true
patriotic courage, JFK boldly faced the two most successful vehicles that
have ever been used to drive up debt: 1) war (Vietnam); and, 2) the creation
of money by a privately owned central bank. His efforts to have all U.S.
troops out of Vietnam by 1965 combined with Executive Order 11110 would have
destroyed the profits and control of the private Federal Reserve Bank.

W8_4_It

I would also agree many of the takers hold the power.

They hold onto to that power by taking from the makers and giving to their base, a multitude of little takers.

It's nothing but a modern version of bread and circuses.

J Anthony Loc: Connecticut

J Anthony Loc: Connecticut

This is not about conservatives vs liberals, its way beyond that. The true parasites have more power and influence than the entire "multitude of little takers" can ever hope to have, and are more responsible for the problems we face than anyone. Check out buffalo's post above, it is vital that we direct our energies toward the real takers in society, who have controlled our economy and politics for over a century now.

MarvinSussman

The Fed lends money on special occasions: TARP, AIG, etc. Otherwise, the Fed buys treasuries from sellers and buys mortgage-backed securities from government agencies: Fanny, Freddy, etc.

All money is federal debt, accepted in payment of taxes.

There is no mystery, just ignorance.

MarvinSussman

Google the Fed and look for Wikipedia.

MarvinSussman

The Fed is a creature of Congress. The private ownership is meaningless in terms of power, which is held by the Chair, appointed by the President with Senate approval.

The Fed can lend money as authorized by Congress: TARP, AIG, etc. The Fed can create money to buy and sell assets: treasuries from holders and securities from government agencies. Of all the Fed profits, 94% must be returned to the Treasury.

Private bankers on the Fed board can try to influence the Fed chair concerning interest rates. So can many others in and out of government. Otherwise, the ownership of the Fed is immaterial and irrelevant.

Congress puts private savings into the economy by deficit spending. A trade surplus could do the same. Banks can only create private debt.
The Fed cannot put private savings into the economy

That's all you need to know. Everything else is BS.

W8_4_It

All money is loaned into existence. They print it out of thin air. It's a fiat currency.

emarine

The Lehman Brothers were a NY investment bank... they went bankrupt in 08.... how can they be part of the Fed?