Forum Post: Do most people even know what the Fed IS?
Posted 13 years ago on Oct. 17, 2011, 1:28 a.m. EST by clawback
(2)
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I get the sense a lot of people still think the Federal Reserve is some sort of public regulatory body that protects the country from bank crises and keeps the economy from derailing via monetary policies that only the super intelligent can understand.
Folks, the Federal Reserve is a cartel. It's members are the presidents of the "too big to fail" banks. It is 80% privately held, and 20% State held. The 20% portion has been filled with Goldman Sachs shills by "our" Executive Branch of Government. It's members represent the interests of the largest banks in the world. Their goal is to make more money for their cronies and screw the 99%.
They thrive on creating stock market crises and panics, because during these periods, they get to further consolidate their power.
The solution is to end the Fed. Fire the participating banksters and seize their assets. Create a national citizen owned bank. Members of this bank would include proportional representation from 50 citizen owned cooperative State banks, each with voting rights on national fiscal policy.
The presidents of the State banks would be voted in by the citizens of their respective States and have term-limits, reasonable salary caps, and no "bonuses". Combine this with election reform, one-person, one-vote, end corporate person-hood.
Private banks and coops could be allowed to compete with the cooperative State banks, but could only grow to a certain modest size before strict anti-trust regulations would go into effect.
We need lots of capital to fund things like healthcare, clean energy, education, etc. in a meaningful and substantive way. But until we reappropriate what has been stolen from us by the biggest crooks in history, we'll just be fighting with each other over crumbs.
And, one more thing: for the wealthiest 1%, only 15% of their wealth is "income". But, most of their wealth is the 99%'s "debt". This is what keeps us enslaved and powerless. We can eliminate much of our phoney "debt" by getting rid of the Fed, and establishing a just financial system.
In addition to this post, the Income Tax was ratified only three years after the Fed Reserve Act was. Could you imagine a world without the Fed and income tax? It's so hard for people to understand the injustice that has happened because we are so far removed from that era.
The Fed is one of the main problems-any idiot knows that. Do your research. The post is absolutely correct. The Fed has nothing to do with the Federal Government except that the government borrows money from the Fed and the Fed which is just a mega bank makes interest off of the borrowing. It controls inflation and deflation by printing more or less money. It has not gold backing. It IS a cartel.
wow didn't know all this, the Tea Party hates the fed too... maybe we should team up with them...
Hello!! That is one of their main planks. All of the lefties have been so busy demonizing the Tea Party that they are distorting their views.
Damn straight.
The Federal Reserve is unconstitutional for starters. The power to create and regulate the value of money is granted to Congress alone and shall not be delegated to a 3rd party.
Secondly, they are not an entity of the federal government. They are a private credit monopoly, and their board consists of the chairmen of Wall Street banks.
No point in drawing a distinction between them and the banks. If you've seen Ron Paul's partial audit of the Federal Reserve, you'd understand why.
In the recent GOP debate Ron Paul discussed this partial audit of the Federal Reserve, and that it revealed an astounding $16 trillion in SECRET bailouts to the banks in the last 3 years.
That's $16 TRILLION in taxpayer backed funds made without congressional approval or even public knowledge much less consent! Incredibly this story was not covered by any major media outlet. Ron Paul's mention in the debate was the greatest exposure, and even then it's been ignored since, despite what's going on with the Occupy protests.
Who is the Federal Reserve? You can throw Bernanke in prison like Newt wants to, but the people sitting on the board of the Fed, the ones who blocked a complete audit of the Federal Reserve, are all chairmen of Wall Street Banks. Face up people, the Wall Street banking cartel runs this country and the entire world, and they are running it into ruin.
The only thing they produce is DEBT, and they produce it every single day, on a computer keyboard and without limit. They get rich by pushing the rest of society into debt to the point where our entire economic surplus is being used to pay interest, financial fees and rent extraction to the financial sector. There is no investment in industry, no advancement of the living standard.
They will continue in this manner until all industry, governments, nations and economic systems are enslaved to them
They also produce wars . . .
The Federal Reserve Act was passed on December 23, 1913, without a quorum when most of Congress had returned to their districts for the Chrismas Holiday.
In 1914 WWI began. The Europeans could not have financed a world war without pulling the US into it. Their treasuries had already been spen on years of endless war.
Sound familiar ? ?
The Chairman and Vice Chairman of the 9-11 Commission have written a book "Without Precedent: The Inside Story of the 9/11 Commission," by Thomas H. Kean and Lee H. Hamilton.
Here's a history of the Fed. http://www.whale.to/b/mullins5.html
Here's a documentary on the history of banking, including the Fed. http://video.google.com/videoplay?docid=-515319560256183936#
I was talking to a protestor about why they had nothing on their signs about "end the fed". She thought I meant the federal government!
This is super long, but if you want a really ugly picture of what the central banks around the world do, read this: http://www.iamthewitness.com/DarylBradfordSmith_Bankers.htm . I had no idea!
By definition, a plutocracy is government by the wealthy. The only thing worse than an outright plutocracy is a stealth plutocracy. The anger and hopelessness so many Americans feel stems from the fact that we are effectively being ruled by a plutocracy in the form of the Federal Reserve. The central bank is essentially a quasi-governmental entity and does not take orders from congress or the president. Its decisions do not have to be ratified by anyone in the executive or legislative branches of government. They cannot be sued and they cannot be audited regularly like other government agencies. It's an inside job.
I totally agree with you. People are kinda in denial about the FED.
Agreed. Fed Reserve has to go.
Definitely agree on this and I love the fact that you say it without the rest of the rhetoric. It shows that despite political ideology - we can actually all agree.
I am the original poster of this comment. I want to make clear that I consider myself a progressive. I am not a libertarian, and I don't agree with many things that a lot of libertarians seem to agree on. For example, I believe the majority of the scientific community's findings that global warming is caused by the greenhouse effect, which is caused by carbon emissions. Also, I believe that shareholder politics and the "private sector" create their own forms of enslavement. Minimizing the State will not simplistically solve every problem, as some libertarian die-hards seem to believe.
Never-the-less, not all libertarians are the same (check out "geo libertarianism" for example.) They are not all capitalists. And, not all progressives are socialists. Most of all, I implore everyone to question all party lines and think for themselves. Just because you think someone is an asshat overall, they may be dead right about something! The ruling elites LOVE when we keep up this mindless partisan bickering.
Bottom line: if you want to re-distribute the wealth, then don't you first have to figure out WHERE the wealth is being held? And, if you want to change the policies of our leaders, don't you first need to determine WHO is truly running this country? (Hint: it's not Obama.)
Corporations positioning themselves to profit from 'solutions' to climate change.
http://www.alternet.org/environment/100845/
In an age where there is rampant corruption and corporate influence at all levels of society, science is by no means exempt from the same influence. Many scientific journals and scientists (including physicians) are funded to perform research and publish 'results' that are favorable to biotech, pharma, and other profit-seeking companies.
Do not make the mistake that science is sacred. It is not. There is increasing evidence that corporate money does influence our 'findings'. Partly this is because research is inherently expensive.
http://jama.ama-assn.org/content/296/8/996.full
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There are lots of docs on the private Federal Reserve
Check youtube or you can start with these:
http://www.youtube.com/watch?v=ZPWH5TlbloU
http://www.youtube.com/watch?v=lfmPlHsYYk0
http://www.youtube.com/watch?v=iYZM58dulPE
http://www.youtube.com/watch?v=YGAaPjqdbgQ
The present form of the Federal Reserve System must be ended – it must become a part of our government – what people mistakenly think it is now! In the Treasury Department is best.
The accounting privilege that banks now have to create what we use for money out of debt, must stop once and for all. What’s called fractional reserve banking must be decisively ended.
3.The Congress must understand and be empowered to create new money and spend it into circulation as money, not debt. For example the $2.2 trillion dollars the Engineers tell us is needed for infrastructure over the next 5 years. As the system progresses, health care and education, and grants to the states are made.
That sounds very promising. Hope more people can have discussions along these lines.
There is an appalling lack of education on what the Fed is, and what it does, around here. Simply speaking, with the Federal Reserve Act of 1913, congress, unconstitutionally privatized the American money supply. If anyone really want to know the facts, they can learn right here -
http://video.google.com/videoplay?docid=6507136891691870450
Most people do not know what the fed is, or does. If you ask a regular joe, he will say they do something with banks or interest rates.
I have yet to see any convincing evidence that the Feb is THE big problem in our economy. All I've seen is people who want to take our attention off of the banks (because they're a part of the banks) by trying to convince us that the Feb is the boogeyman in the room instead of them.
lol
The Fed controls the US money supply. They control it ALL. Our money supply has been PRIVATIZED.
So? How does that hurt us?
It hurts us because our money supply should belong to us. It does not. Federal Reserve notes are circulating debt and they belong to the Federal Reserve. Every one represents a debt owed to the Fed. They also charge us fees and interest on money created out of thin air. They merely order the printing of money or expansion of credit, and we pay them fees and interest on it. They risk nothing but rake in profit. Under the constitution, congress controls our currency and is it coined and printed interest free. The constitution, on this matter, has never been changed. We need to abide by the document that protects the interests of the People. The founders warned of the dangers of a private, paper money supply. They lived though that and devised the most sound money system in the world, to be owned by We the People.
Ok, but that still doesn't explain HOW, technically, it hurts us. I understand the PHILOSOPHY, I want to know the TECHNICAL details. Just saying that it "should belong to us" is sort of like saying that a clock works by keeping time. That doesn't explain anything. I want to know how the gears (old fashioned type) turn, what ratios they're built in, and even, eventually, the mathematical equations that describe how one small fast turning gear causes a larger gear to turn more slowly. etc.
The fees and interest seem to be a fairly trivial concern, IMHO.
They are not trivial. They are a large portion of our national debt.
Since you really have an interest in what the Fed is, you can learn here:
http://video.google.com/videoplay?docid=6507136891691870450
This is also in book form. The book is called The Creature From Jekyll Island. It's an in depth study of the Fed and banking. Not light reading but very important for anyone who wants to learn.
Thanks, I'll check it out.
Drmartin, There is a lot of history on the FED. Perhaps this could shed some light for you...
http://www.apfn.org/apfn/reserve.htm
Thanks for the link but I'm having a really hard time listening to somebody who gives a "history lesson" in such a mocking tone of voice.
I'd rather read than listen to somebody speak. Besides, I'm not really interested in the history of the Fed. I more or less know it and I more or less know what it does. I just haven't heard anybody tell me HOW it's such a danger.
There is alot of reading on that page. Skip the videos, scroll down.
Ah, ok, I'll do that.
DRMartin the Fed IS the Banks in collusion with the government. Take a one dollar bill out of your pocket. Look at the inscription at the top, and tell me what it says. They control ALL of your money, they can create money out of thin air, the lend money to banks who then can lend out 10X the money they are given and reap the benefits of pre-inflationary spending, while you, the consumer gets slapped with a 3% compound tax every year called "inflation". You spending power will NEVER match up with those (the "banks") who get first crack at this new money. You are ALWAYS at a disadvantage.
None of that explains how it hurts anything.
http://mises.org/rothbard/rothmoney.pdf
Read that and get back to me. I cannot explain what and how the federal reserve has destroyed our monetary system better and more succinctly than that.
Thanks for the link. I'll check it out but I have 3 different things to read and not a whole lot of time so it will probably take a few days.
No worries. Its a quick read 1 or 2 days. Its a great primer into Austrian Economic thought.
Reforming central bank of a country. Especially one that's recently been downgraded. I would add that:
The easiest slaves to control are the ones that think they are free. Macha-macha-what? Machiavelli...
Do you represent the people running this forum and if yes, can you tell me whether or not this forum or the people running this forum have direct ties to the NYCGA; the same NYCGA referred to in the link above?
I represent myself. I'm a Boston Occupier.
From what I've gathered, the Federal Reserve is most definitely one of the problems and should be abolished. That should be one of OWS' items on their list. Isn't it also a violation of federal or Constitutional law?
There has been a fight against centralized banking since our founding. It WAS in violation. Until 1913 when the banksters got congress to pass the Federal Reserve Act. Written by a group of banksters on jeckyl island. Signed into law by Woodrow Wilson. Who later said he regreted doing it.
I'd heard that the dollar had the same buying power from the early 19th century up until 1913, that a dollar's purchasing power remained constant for a HUNDRED years. It's been losing value since 1913, over a 90% drop in value. That alone should tell you something.
You would think so, but many, many people fail to make the connection. Doesn't help with all the crap that generations of Americans have been indoctrinated with.
Yes, the creation of the Fed was unconstitutional. It was a privatization of the nation's money supply.