[misterno]

The act created the Federal Reserve System, a name carefully selected and designed to deceive. "Federal" would lead one to believe that this is a government organization. "Reserve" would lead one to believe that the currency is being backed by gold and silver. "System" was used in lieu of the word "bank" so that one would not conclude that a new central bank had been created.
In reality, the act created a private, for profit, central banking corporation owned by a cartel of private banks. Who owns the FED? The Rothschilds of London and Berlin; Lazard Brothers of Paris; Israel Moses Seif of Italy; Kuhn, Loeb and Warburg of Germany; and the Lehman Brothers, Goldman, Sachs and the Rockefeller families of New York.
Did you know that the FED is the only for-profit corporation in America that is exempt from both federal and state taxes? The FED takes in about one trillion dollars per year tax free! The banking families listed above get all that money.


http://www.silverbearcafe.com/private/JFK.html

[ReverseEngineer]

This has been discussed in detail in
The Federal Reserve System Thread
and
The Federal Reserve Thread

Reverse Engineer

[canis_lupus]

I just disgusted myself by watching all three and a half hours of this while cleaning my office:


http://video.google.com/videoplay?docid ... 0256183936


I had no idea it was this bad.

[yesec9]

It rings of conspiracy theory, presenting information so different than the general viewpoint, but the pieces all fit together. It seems the grand scheme would involve keeping the mouths shut of the many government employees who do these peoples' bidding.

Unfortunately, if this were all true, it would make sense because of the degree of indoctrination and Fed cheerleaders presented by the media whose holding companies, according to this, are controlled by the same interests as the Fed is.

It would be a step in the right direction to try to push for more transparency in the Open Market Committee and the IRS who are both apparently more secretive than the CIA.

[oswald622]

the other national bank we had was private too - the bank of the united states, which andrew jackson killed. whoever put him on the 20 dollar bill had a good sense of humor.

[Pretorian]

If any group of people will work together toward a certain goal, it can achieve anything.

[Micki]

The act created the Federal Reserve System, a name carefully selected and designed to deceive. "Federal" would lead one to believe that this is a government organization. "Reserve" would lead one to believe that the currency is being backed by gold and silver. "System" was used in lieu of the word "bank" so that one would not conclude that a new central bank had been created.
In reality, the act created a private, for profit, central banking corporation owned by a cartel of private banks. Who owns the FED? The Rothschilds of London and Berlin; Lazard Brothers of Paris; Israel Moses Seif of Italy; Kuhn, Loeb and Warburg of Germany; and the Lehman Brothers, Goldman, Sachs and the Rockefeller families of New York.
Did you know that the FED is the only for-profit corporation in America that is exempt from both federal and state taxes? The FED takes in about one trillion dollars per year tax free! The banking families listed above get all that money.


http://www.silverbearcafe.com/private/JFK.html

Welcome out of the slumber.
There is much obfuscation about the federal reserve but it is beyond doubt that it is privatelly controlled and it is obviously without reserves (except for the period they were in control of the nations gold reserves which they since then leased out or swapped, never to be returned. That may also be why they renamed gold reserves to custodial gold and then to deep storage gold.)
Maybe now you will start listening to what Dr Ron Paul has to say. Too bad a few million more didn't wake up before the election.

[yesec9]

I was a Ron Paul supporter but regretfully failed my country by missing the primaries

[Dreamtwister]

Maybe now you will start listening to what Dr Ron Paul has to say. Too bad a few million more didn't wake up before the election.

I'm quite certain there are millions of people who would listen to Dr. Paul...if his message were allowed to get into the mainstream media.

But the sad truth of the matter is, if it wasn't for CSPAN and his webcasts, nobody would know who he is.

[yesec9]

Oh but wait, the video doesn't suggest going to a gold standard, saying it would be a mistake saying that those that control the fed already possess most of the gold out there. They instead advocate debt-free government notes issued by Congress instead of a privately owned central bank. Like Lincoln's greenbacks. Apparently when that debt-free currency existed, the economy was so good that the corporations were able to finance capital expenditures out of their own cash reserves rather than debt financing. No wonder the bankers wanted to do away with that.

The way they are saying it in this video however is that the Fed purposefully deflated the currency to cause the GD. I am skeptical of that. But still, so much of the video is entirely true, I just can't bring myself to believe some of the details of it. But then again maybe the "money changers" really are that evil.

Ron Paul supported the gold standard but I am skeptical about it because gold is very rare and the inflation/deflation rate would be determined by supply and demand, which can distort the money supply whenever discoveries are made or there are shortages.

[Dreamtwister]

Oh but wait, the video doesn't suggest going to a gold standard, saying it would be a mistake saying that those that control the fed already possess most of the gold out there. They instead advocate debt-free government notes issued by Congress instead of a privately owned central bank.

The problem with that is, it doesn't really matter who is printing the "notes". They all suffer the same flaw: limitless supply. Gold works precisely because it is a (virtually) fixed volume.

The fact that all of the gold is already held by a few people is irrelevant. Under the gold standard, if the wealthy want to enjoy the benefits of being wealthy, sooner or later they have to spend some of it. There's a popular saying around here "You can't eat gold", and it's true. A mountain of gold in your vault is meaningless. It's only when you attempt to exchange it for goods and services that it's stored value is realized.

Like Lincoln's greenbacks. Apparently when that debt-free currency existed, the economy was so good that the corporations were able to finance capital expenditures out of their own cash reserves rather than debt financing. No wonder the bankers wanted to do away with that.

No, the bankers wanted to do away with the greenback because they didn't control it. It still suffered the same flaws as the current dollar. It could be printed ad infinitum. The only thing that made the greenback different is that Congress wouldn't approve additional printings, and Lincoln wouldn't have wanted them to anyway. The underlying flaws were still present, they were just unrealized. Just because the patient isn't coughing blood doesn't mean he doesn't have cancer.

Ron Paul supported the gold standard but I am skeptical about it because gold is very rare and the inflation/deflation rate would be determined by supply and demand, which can distort the money supply whenever discoveries are made or there are shortages.

No, there would be no inflation or deflation. Remember, currency is a medium of exchange. It doesn't matter what the value is, just so long as everyone can agree to it. You can't do that with fiat money because the total number of dollars is always in flux.

[Tyler_JC]

Oh but wait, the video doesn't suggest going to a gold standard, saying it would be a mistake saying that those that control the fed already possess most of the gold out there. They instead advocate debt-free government notes issued by Congress instead of a privately owned central bank. Like Lincoln's greenbacks. Apparently when that debt-free currency existed, the economy was so good that the corporations were able to finance capital expenditures out of their own cash reserves rather than debt financing. No wonder the bankers wanted to do away with that.

The way they are saying it in this video however is that the Fed purposefully deflated the currency to cause the GD. I am skeptical of that. But still, so much of the video is entirely true, I just can't bring myself to believe some of the details of it. But then again maybe the "money changers" really are that evil.

Ron Paul supported the gold standard but I am skeptical about it because gold is very rare and the inflation/deflation rate would be determined by supply and demand, which can distort the money supply whenever discoveries are made or there are shortages.

And if the government had the power to print debt-free money...how much money would they print?

Any time a Populist government has the opportunity to print its own currency, it does so with reckless abandon.



Do you really want Nancy Pelosi deciding how much money we should print?

The choice is between an independent central bank and a publicly accountable central bank. An independent central bank results in a statistically significant reduction in inflation and increase in overall monetary stability.

A publicly accountable central bank results in rampant and out of control inflation.

The currencies that we like to think of as stable, the Swiss Franc and German Deutsche Mark, were stable because they were independent and free from popular interference.

[joewp]

The choice is between an independent central bank and a publicly accountable central bank. An independent central bank results in a statistically significant reduction in inflation and increase in overall monetary stability.

No, the choice is between money created as an asset and money created as debt. If the government created money to pay for long lasting infrastructure, then that money would represent real assets instead of a promise to pay, and would necessarily be limited in amount. I don't really know what's better, commodity money or government fiat money, but I do know either one would be better than money created as debt.

[mattduke]

Why is the concept of allowing the free market to decide upon money so incomprehensible to people?

[Dreamtwister]

Why is the concept of allowing the free market to decide upon money so incomprehensible to people?

How can the free market decide upon money when the markets are forced to accept one or the other?

[joewp]

Why is the concept of allowing the free market to decide upon money so incomprehensible to people?

Actually, the free market did decide to use either gold or silver as currency. The powers that be are the ones who forced fiat money created by debt down our throats.

[paimei01]

http://www.dailykos.com/story/2006/12/7/221733/660

Nothing but widespread suffering will produce any effect on Congress.... Our only safety is in pursuing a steady course of firm restriction - and I have no doubt that such a course will ultimately lead to restoration of the currency and the recharter of the Bank."
-- Nicholas Biddle

What a stunning revelation. Here was the pure truth, revealed with shocking clarity. Biddle intended to use the money-contraction power of the Bank to cause a massive depression until America gave in. Unfortunately, this has happened time and time again throughout US history, and is about to happen again, in today's world.

When asked what his greatest accomplishment had been during his two terms as President, Andrew Jackson replied "I killed the Bank."