This article is written to be a primer on the Federal Reserve System and how it effects the boom & bust economic cycles creating wealth for the top 1%, while socializing the losses to be paid for by the American middle class tax payer. The Federal Reserve System is a cartel of private banks. The Fed is owned by its shareholders, Chase, Bank Of America, Wells Fargo, CitiGroup and the other top banks. This chart shows the breakdown of how banks have been using the Fed to consolidate their monopoly.
The Federal Reserve was founded in 1913, it is America’s Central Bank, and is charged with complete, central control of America’s monetary policy. This allows them to expand or contract money supply, change interest rates etc., all of which is done without transparency or accountability to Congress.
The Federal Reserve Act was passed on Christmas Eve of 1913, when most senators were on vacation and home for the holidays.
U.S. currency, the Federal Reserve Note, is a fiat currency, meaning it is not backed by gold or silver as required by the Constitution. This means the value of the currency is held by the amount of it in circulation. The more money printed, the less its worth.
- The chairman of the federal reserve, Ben Bernanke has stated that the recession is over, and that Federal Reserve policies do not create inflation, when that is the essence of the policies.
- America has fought of similar central banks throughout history. Thomas Jefferson fought off the First Bank of the United States in the early 1800s, and Andrew Jackson fought off the second central bank.
- Our currency, since the Federal Reserve was founded in 1913, has been devalued 98%.
The Federal Reserve tracks and publishes the money supply measured three different ways– M1, M2, and M3. M3 tracks liquid forms of money; this includes travelers checks, demand deposits (checking accounts), and other deposits against which checks can be written. Savings accounts, time deposits of under $100,000, and balances in retail money market mutual funds. (This data is also available in the M1 and M2 reports. It represents what “we the people” are doing with our money.) M3 also reports on large-denomination ($100,000 or more) time deposits, balances in institutional money funds, repurchase liabilities issued by depository institutions, and Eurodollars held by U.S. residents at foreign branches of U.S. banks and at all banks in the United Kingdom and Canada. ( M3 represents what large institutional investors, Governments, mega-corporations and the too big to fail banks are doing with their money.)
As of March 2006 (Coincidently 2 years before the bailouts?) the FED stopped releasing the M3 report. Here is a article on the M3, Inflation and the FED: (http://www.inflationdata.com/inflation/Inflation_Articles/M3_Money_supply.asp)
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
- Thomas Jefferson
In Defense of Civil Liberties with Danny Panzella
Ben Bernanke saying he wont tell Congress which Foreign banks the FED gave $2.2 trillion dollars to:
Ben Bernanke saying he doesnt know who received 500 Billion dollars from the Fed:
Alan Greenspan says the Fed is ABOVE the Law, and does not answer to anyone. http://www.youtube.com/watch?v=ol3mEe8TH7w
One of the most simplified and entertaining overviews of the Federal Reserve is the animated film “The American Dream” by the The Provocateur Network. Their website http://theamericandreamfilm.com/the-knowledge.php also has a lot of great information.
Another Great film that delves into the Federal Reserve and its relationship to the IRS and the UnConstitutional income tax is the late Aaron Russo’s Freedom To Fascism. The work of Aaron Russo lives on through RTR.org the social networking site of the patriot movement. Join RTR.org today.
Money, Banking and the Federal Reserve by the Mises Institute is the next stop on our journey into de-mystifying the Federal Reserve. This film is dedicated to the memory of Murry Rothbard.
No investigation of the Fed is complete without delving into the life work of G. Edward Griffin. Author of the book “The Creature From Jekyll Island. This lecture is based on the best selling book which is a MUST READ.
The 5th Edition of The Creature from Jekyll Island, includes the latest information relevant to the Federal Reserve. Where does money come from? Where does it go? Who makes it? The money magician’s secrets are unveiled. Here is a close look at their mirrors and smoke machines, the pulleys, cogs, and wheels that create the grand illusion called money. A boring subject? Just wait. You’ll be hooked in five minutes. It reads like a detective story – which it really is, but it’s all true. This book is about the most blatant scam of history. It’s all here: the cause of wars, boom-bust cycles, inflation, depression, prosperity. Your world view will definitely change. Putting it quite simply, this may be the most important book on world affairs you will ever read.
This book made huge theoretical advances. He was the first to prove that the government, and only the government, can destroy money on a mass scale, and he showed exactly how they go about this dirty deed. But just as importantly, it is beautifully written. He tells a thrilling story because he loves the subject so much.
The passion that Murray feels for the topic comes through in the prose and transfers to the reader. Readers become excited about the subject, and tell others. Students tell professors. Some, like the great Ron Paul of Texas, have even run for political office after having read it.
Rothbard shows precisely how banks create money out of thin air and how the central bank, backed by government power, allows them to get away with it. He shows how exchange rates and interest rates would work in a true free market. When it comes to describing the end of the gold standard, he is not content to describe the big trends. He names names and ferrets out all the interest groups involved.
The premise of Dishonest Money is simple: Very smart and powerful people have created a system of financial control. With it, they are robbing you of your wealth, freedom and future. The average citizen, never taught how the system works, cannot effectively fight it If the premise of Dishonest Money is simple, then its purpose is even simpler: Help the average citizen learn “the system” so they can protect their wealth, freedom, and future. …Expose the thieves, and stop them. To achieve this purpose, Dishonest Money explains the following in simple / common language: The Federal Reserve System, the International Monetary Fund, the World Bank; who created them and who benefits? Inflation, deflation, booms, busts, BAILOUTS, depressions and recessions; what are they, what causes them and who benefits? Honest money VS dishonest money: how are they different and who benefits? The CFR, the Trilateral Commission, the European Union, a North American Union, One-World government…who benefits? By the end of this short book, the reader will be familiar with these terms, will know “who benefits” and (more importantly) will know who pays…
The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal Dutch/Shell, BP and Chevron Texaco); in tandem with Deutsche Bank, BNP, Barclays and other European old money behemoths. But their monopoly over the global economy does not end at the edge of the oil patch. According to company 10K filings to the SEC, the Four Horsemen of Banking are among the top ten stock holders of virtually every Fortune 500 corporation. [Read the full article]
Make a donation to help NYC End The Fed activists purchase 10,000 ETF Flyers to distribute over the next few months leading up to the End The Fed Rally in November.