Dismantle The Federal Reserve
and perhaps some of the elected representatives in Washington seem to believe that we all must depend upon the Federal Reserve
to stabilize the nation’s financial system and keep the wheels of commerce running smoothly.
we once considered Alan Greenspan, long-time chairman of the Federal Reserve, as one of the most powerful and influential
figures in the world of finance. Today the bearded face of Ben Bernanke fills that void and wields as much power as Greenspan
once did. But why?
David Quinn in an article for The Cutting Edge said most Americans erroneously
believe the Federal Reserve is part of our government. It is, however, a privately held corporation owned by stockholders
representing the largest banks in the land. The Federal Reserve holds its power because Americans have been led to believe
that it should have it.
wrote that “if the American public understood what their (Federal Reserve) policies have done to their lives, they would
be rioting in the streets.
less than one century the Federal Reserve Bank of the United States has destroyed our currency and has allowed bankers to
gain unwarranted power over the country. They had the ability and opportunity to bring down the worldwide financial system,”
S. Constitution gives the power of making money to the Congress. Congress also has the power of regulating its value. The
Constitution also requires that money be coined of gold or silver, and that paper bills, if used, must be backed by their
printed value by gold or silver maintained in government vaults.
Jefferson, a former president and one of the framers of the Constitution, once warned that “if we turn our monetary
system over to the bankers our children will wake up as slaves to the country we fought to free.” Jefferson understood
the power of greed that has historically emanated from the hearts of the few that rise to possess and control the wealth.
the very thing that Jefferson warned us about happened. On Christmas Eve that year, while many members were home with their
families for the holidays, a key number of congressmen met for a special session in Washington to pass the Federal Reserve
Act. This is an unconstitutional act that turned over the U. S. monetary system to a few international bankers. The act was
signed into law by President Woodrow Wilson, who advocated a better system of stabilizing the monetary system.
the banks under the control of the Federal Reserve, the rules for printing money changed. Our dollar bills once were considered
a representation of their value in gold stored in places like Ford Knox, Kentucky. The old bills once stated this. Now our
bills are identified as Federal Reserve notes. This means that they are loans or I.O.U.s and are no longer backed up in value
by gold reserves. And that is in clear violation of the Constitution.
Federal Reserve bring the stability to our monetary system as President Wilson had hoped? Indeed, it did not. By 1928 America
and the world banking system was plunged into the Great Depression, largely because of the same kind of reckless banking activities
and false printing of paper dollars that brought about the current world economic crisis.
climbing out of the Great Depression and numerous “recessions” over the years, we have experienced a slow decrease
in the value of the dollar, caused by the Federal Reserve’s printing of more money than there have been gold reserves
to back up the value. This, in turn, has been causing an inflationary spiral that has been slowly destroying the American
that one day after the Republicans gained control of the Congress and the promise of a stronger yoke on the nation’s
financial system in mid-term elections, the Federal Reserve announced a decision to print another $600 billion under the guise
of propping up the big banks.
Americans can remember a time just after World War II when a new automobile could be purchased for $1000 and gasoline sold
at the pump for 25 cents a gallon. We worked in those days for a dollar an hour and thought it was good money. A good house
in 1960 could be purchased for $25,000 or less.
was a time when jobs were plentiful. There was opportunity for advancement and if the job we had didn’t work out, we
could move on to find employment elsewhere. Employers used things like health insurance benefits and paid vacation time to
coax good workers to stay on the job.
we were living in an era of promise and opportunity. Little did we know that the robber barons were hard at work, dismantling
the monetary system that made it possible for us to enjoy that way of life.