“This Federal Reserve Act establishes the most gigantic trust on earth. When President Wilson signs this bill, the invisible government of the monetary power will be legalized. This is the worst legislative crime of the ages that has been perpetuated by this banking and currency bill. From now on, all depressions will be scientifically created.” – Congressman Charles A. Lindbergh Sr. circa 1910
On June 4, 1963 President John F. Kennedy issued Executive Order 11110 which would authorized the U.S.treasury to begin printing a new form of the silver certificate called the U.S note (Dollar). On November 22, 1963 John F. Kennedy was assassinated.
On August 15, 1971, the United States unilaterally terminated convertibility of the dollar to gold. As a result, the Bretton Woods system officially ended and the dollar became fully ‘fiat currency,’ backed by nothing but the promise of the federal government. This action, referred to as the Nixon shock, created the situation in which the United States dollar became a reserve currency used by many countries. From the 1970’s and forward, Americans enjoyed what is considered to be a lavish lifestyle in comparison to most countries around the world. However the money in our current system is nothing more than debt, and we have lots of it!
So the Federal Reserve, a private for profit baking cartel, comes to the table with no “skin in the game.” They unleash what is now digital fiat currency with no tangible backing or accountability into the banking system and this is then leveraged by Fractional Reserve Banking. The banks then can loan out these dollars (with a multiplier of 10 or 100 or more times the amount than they received from the Fed.), to other banks, to governments, corporations, and individuals and charge an interest rate. They typically own title for example, as in a mortgage or a car loan. And when they decide to “reap the harvest,” they seize the assets when the consumer is unable to survive in a jobless inflationary climate (which they helped to create). They also fund both sides of all wars for huge profits as the innocent little children are laid in shallow graves and billed as nothing more than “collateral damage”.
This subject of Fractional Reserve Banking is also defined in great detail in a simple to understand format in the DVD titled “Money as Debt” and “The Money Masters”.
This Federal Reserve Act of 1913, although passed by congress, was in contradiction to the United States Constitution which in Article 1, Section 8, Phrase 5. It clearly states the following regarding money that “Congress shall have power to coin money, regulate the Value thereof, and of foreign Coin, and fix the standard of weights and measures.” This power was given to a private for profit bank called the Federal Reserve in 1913. Congressman Ron Paul and now Senator Rand Paul have drafted bills to audit the fed. To date with no success.
And since the inception of the Federal Reserve, the U.S. Dollar has lost over 95% of its purchasing power. I believe the U.S. Dollar may experience a false sense of stability for the short to near term as the Canadian currency, the Euro and other currencies falter and fail, but once the U.S. dollar loses its world reserve currency status, the dollar will collapse and a new currency will be ushered in. This will happen in my opinion sooner rather than later. An eye opening documentary from some years back by film producer Aaron Russo is a must watch for those who are just becoming aware of this subject of the Federal Reserve System. This documentary can be viewed here, Freedom to Fascism. Meanwhile tic-tock-tic-tock. USA debt clock.
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