Posted on 12/23/2023 12:57:24 PM PST by RandFan
On December 23, 1913, President Woodrow Wilson signed the law creating what would become the world's most powerful financial institution.
For me it's probably the most destructive institution that has been created
As long as the Fed has been around, it has swung the economy between inflation and recession.
Politicians created a fully government-run institution to bail out government and bad banks alike: the Federal Reserve.
Since its founding, the Fed has stolen 98% of the value of a dollar. It has used those profits to repetitively launch boom-bust cycles.
Click excerpt link for more...
(Excerpt) Read more at heritage.org ...
From Karl Marx’s “10 Planks” to communizing a nation:
“Centralization of Credit in the Hands of the State, by Means of a National Bank with State Capital and an Exclusive Monopoly.”
Great book
Yes. Marx knew it was important. I think he said the same thing about education.
Central Banking is always about control and the transfer of wealth, nothing more.
The Word say that God is no respecter of persons, but hell has gotta have every special places for dirt bags that created that crap to steal, kill and destroy.
Look on the bright side: they haven’t destroyed/stolen the last 3% of the value of the dollar they were entrusted with... yet
Black day today...
They seem to lurch from one crisis to another papering over the cracks as the system gets more dysfunctional
It’s headed for total collapse at some point.
It's already collapsed. That stench is gangrene.
We're more than $130 trillion in debt.
Read the book; The Creature from Jekell Island by Burke. The Rothchilds and Warburgs were some the principal designers of the FED.
It was created by Vipers and still is a Den of Vipers.
The attack on America began 110 years ago. The FED should be wholly closed as a public-private entity, the private side "share" owners bankrupted by "bail in" to liquidate some of the debt, and the government "own" it in the same manner the government "owns" and operates the military. Are we stuck with the FED as it is? Nope. It's a matter of politics and fat cats.
The Fed is useless. Its members are political hacks and have no idea what they’re doing. Maybe capitalism will work just as well with a normal ebb and flow of the markets
Thank you very much for the clarity: numbers six and seven in Marx' wish list. Most folks hadn't read past the first couple of evil ideas.
1. Abolition of property in land and application of all rents of land to public purposes.When one extraordinarily misinformed Freeper started up with Paul Krugman "only need to service the debt" chatter, I saw full well that some Freepers, thinking themselves conservative, are either unread in these matters or worse.
2. A heavy progressive or graduated income tax.
3. Abolition of all rights of inheritance.
4. Confiscation of the property of all emigrants and rebels.
5. Centralisation of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.
6. Centralisation of the means of communication and transport in the hands of the State.
7. Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan.
8. Equal liability of all to work. Establishment of industrial armies, especially for agriculture.
9. Combination of agriculture with manufacturing industries; gradual abolition of all the distinction between town and country by a more equable distribution of the populace over the country.
10. Free education for all children in public schools. Abolition of children's factory labour in its present form. Combination of education with industrial production, &c, &c.Source: Chapter II. Proletarians and Communists Communist Manifesto
"On 15 August 1971 Marx's vision became true: The US administration single-handedly terminated the redeemability of the US dollar into physical gold – and so gold, the currency of the civilized world, was officially demonetized. Through this coup de main, in the United States of America, as well as all other countries in this world, an unbacked paper money — or fiat money system was established. Since then, all currencies around the globe represent fiat currencies: representing money creation by circulation credit expansion, not backed by real savings or deposits, monopolized by central banks.
"The fiat money system, the creation of money through circulation credit expansion, has brought about a new kind of debt slavery on a grand scale. Consumers, corporations and, of course, governments, too, have become highly dependent on central banks continuously churning out ever greater amounts of credit and money, provided at ever lower interest rates. In numerous countries, central banks have de facto become the real centers of power: Their monetary policy decisions effectively determine the weal and woe of economies and whole societies.
"By issuing fiat currencies, created out of thin air, a rather small clique of central bankers, together with their staffers, causes — to borrow from Friedrich Nietzsche — a "revaluation of values." Chronic monetary inflation, for instance, discourages savings; running into ever greater amounts of debt gets cultivated; by central banks' downward manipulation of the interest rate, the future needs get debased compared to present needs; the favoring of a sort of monetary 'Deep State' comes at the expense of demolishing civil and entrepreneurial liberties."
The quotes and references from Marx and Mises Wire are for any and all to read.
I am of the opinion that the Federal Reserve (private bank) is unconstitutional.
"The Federal Reserve was created 110 years ago today"
FR: Never Accept the Premise of Your Opponent’s Argument
Let's say that activist President Woodrow Wilson's Federal Reserve is the greatest invention since sliced bread.
H O W E V E R...
I'm making this post because the states have never expressly constitutionally given banking powers to Congress.
"From the accepted doctrine that the United States is a government of delegated powers, it follows that those not expressly granted, or reasonably to be implied from such as are conferred, are reserved to the states, or to the people. To forestall any suggestion to the contrary, the Tenth Amendment was adopted. The same proposition, otherwise stated, is that powers not granted are prohibited [emphasis added]." —United States v. Butler, 1936.
Thomas Jefferson had explained the problem with traitor Alexander Hamilton's "necessary and proper" national bank as follows.
"It is known that the very power now proposed as a means was rejected as an end by the Convention which formed the Constitution. A proposition was made to them to authorize Congress to open canals, and an amendatory one to empower them to incorporate. But the whole was rejected, and one of the reasons for rejection urged in debate was, that then they would have a power to erect a bank, which would render the great cities, where there were prejudices and jealousies on the subject, adverse to the reception of the Constitution [emphasis added]. — Jefferson's Opinion on the Constitutionality of a National Bank : 1791
President George Washington gave the first Treasury Secretary Alexander Hamilton his national bank because Hamilton, his former army buddy, cried on Washington's shoulder to get it.
Note that traitor Hamilton was probably aware that his fellow delegates to the Constitution Convention had given Congress only the power to regulate the value of money, but no other banking powers.
"Article I, Section 8, Clause 5 (1.8.5): To coin Money, regulate the Value thereof [emphasis added], and of foreign Coin, and fix the Standard of Weights and Measures;"
So in order for Wilson and Congress to establish the Federal Reserve, Wilson had to lead Congress to first successfully petition the states for an appropriate constitutional amendment to effectively transfer Congress's 1.8.5 power to regulate the value of money to the Federal Reserve, which Wilson and Congress scandalously ignored doing imo.
And since the drafters of the Constitution had given us despicable ordinary voters the power to vote for members of the House, Wilson unthinkingly weakened our constitutionally enumerated voting power when he signed the bill that established the still constitutionally undefined Federal Reserve.
The non-popularly elected bureaucrats running the Federal Reserve probably helped to foster the emergence of so-called career federal lawmakers imo. This is because career lawmakers evidently learned the deception of letting the now many non-elected bureaucrats that lawmakers hide behind to avoid angry voters get away with stealing and exercising state powers to make unpopular, unconstitutional federal regulations.
By doing this, crook lawmakers are able to keep their voting records clean and therefore trick post-17th Amendment ratification voters who probably don't understand the federal government's constitutionally limited powers to keep reelecting them.
Powell "are he .1%" to "were the .1%"
Powell standing on gold, to standing on fiat.
Common man added, standing on the gold, thinking of debt-free currency.
Do you agree with Griffin? Is there little value actually lost when a borrower defaults?
And isn’t it amazing how much the economy grew in those 50 years, and how easily people lived?
I have ancestors who went from homestead settlers to large farm owners and major business owners in that time period. Unionists who left the South just a few years before the War to get away from the insanity coming.
Imagine how we all would be living now if the banksters hadn’t shown up in the early ‘oughts of the 20th century.
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