Forum Post: The problem with the FED
Posted 13 years ago on Oct. 7, 2011, 12:30 p.m. EST by usapsyops
(14)
This content is user submitted and not an official statement
Let me explain this to those that are misinformed or insist that the FED isn't the problem.
We "borrow" money from the FED, and owe them more money than we borrowed.
Let's say you have no money. Then, the FED gives you $100. You now owe them $106. But with no other source of the paper money, we are forced to continually pay the Fed money. This is basically a LOAN on our currency.
We are in a fed-generated debt. For all money we print, we owe them more than they gave us, because it is a PRIVATE, CENTRAL BANK.
We need to End the Fed.
YES
And you wonder why they are/were hostile to an audit of their activities ...
The U.S. Federal Reserve gave out $16.1 trillion in emergency loans to U.S. and foreign financial institutions between Dec. 1, 2007 and July 21, 2010, according to figures produced by the government’s first-ever audit of the central bank.
Last year, the gross domestic product of the entire U.S. economy was $14.5 trillion.
Of the $16.1 trillion loaned out, $3.08 trillion went to financial institutions in the U.K., Germany, Switzerland, France and Belgium, the Government Accountability Office’s (GAO) analysis shows.
http://tiny.cc/7olld