The Federal Reserve corporation
- From: "Equal Rights" <equality@xxxxxxxxxxx>
- Date: Thu, 07 Jul 2005 15:41:39 GMT
The Federal Reserve corporation
For zero inflation to occur, a government can only print new currency to
match the new goods and services created. But if 10 billion dollars worth
of, say, new pornography enters the market then a government can print 10
billion new dollars to match it without causing any inflation. The problem
is, that 10 billion dollars worth of new pornography entering the market
creates social problems. This would be greater government expenditures on
crime, drug-use, counseling services for divorce, depression, etc, all of
which comes from the taxpayer. In America, however, the national banks have
been printing the currency since 1982, not the government.
If 100,000 people in America's inner cities arrive in emergency rooms with
gunshot wounds, where each patient requires $100,000.00 average worth of
hospital treatment, then the national banks can print an extra
$10,000,000,000.00 in new currency for themselves to spend without causing
any inflation. These banks can lend and invest this money wherever they
want. The hospitals paying these added expenses pass these new costs on to
insurance companies and the federal government.
A dangerous problem occurs when a privately-owned central bank prints the
currency because, while a government would surely not be interested in
printing 10 billion new dollars to match new problematic goods that will
cause the government to go into debt, a privately-owned central bank may
because it does not have to pay for these higher social problem costs (the
taxpayer does). Additionally, and as is currently the case in America, when
the government is forced to spend this extra money it often must borrow it,
and it borrows it through the very same privately-owned central bank which
benefitted by the initial 10 billion dollars printed. This is precisely what
the Federal Reserve corporation has been doing in America during the past
decade, where the 2% and 3% economic growth rates listed each year were not
a result of good manufacturing jobs being created, this was merely the new
currency printed to match the massive immigration each year, vast amounts of
new illegal drugs arriving, millions of people getting involved in gambling,
prostitution and pornography along with the resulting skyrocketing of AIDS
and STD cases, counseling for depression, family problems, etc. The Federal
Reserve corporation is owned by America's national banks.
If a young girl finishes school and gets a new job earning $20,000.00 per
year, then the privately-owned Federal Reserve can print $20,000.00 without
causing any inflation. This is not "too much money chasing too few goods and
services" because there is now that exact same amount worth of new services
created. This is known as economic growth. If, however, this young girl
instead gets involved in prostitution where she earns $50,000.00 per year,
even if this profession is illegal, then the national banks (via the Federal
Reserve) can print $50,000.00 new without causing any inflation. And if she
contracts the AIDS virus, where the government then has to spend $120,000.00
per year treating her, then the Federal Reserve corporation can print
$120,000.00 in new Federal Reserve notes and spend it without causing any
inflation.
The privately-owned Federal Reserve doesn't have to pay for these high AIDS
medical costs, the government does. But when this new currency is printed
there is no added inflation because there is now $120,000.00 worth of new,
vitally-needed medical services which have been created, which were not in
demand and did not exist before, to deal with her AIDS illness. Multiply
this figure by perhaps 1,000,000 new AIDS cases in America and the Federal
Reserve can print $120,000,000,000.00 for itself to match this without
causing any inflation. This huge sum will be given to America's
privately-owned national banks for free to "inject into the economy" as they
like to call it, which means they lend this money and it enters the economy.
They don't give this money away, nor do they give it to the government, the
banks get to keep these new dollars.
Certainly we are not implying that the owners of America's private national
banks are aware they are printing new money to match growth in crime and
drug-use, just that they may be misled of talk about all sorts of good jobs
that have been created, which may not exist in reality.
What is the Federal Reserve ?
The Federal Reserve system is comprised of twelve privately-owned Federal
Reserve bank corporations whose stockholders are America's privately-owned
national banks. Every bank must join a Federal Reserve bank corporation and
become a stockholder in it. There are no government-owned banks in America.
When a Federal Reserve bank wants new Federal Reserve notes, as it often
does, it tells the U.S. Treasury department how many new notes to print and
send to it. In other words, though the physical printing presses for Federal
Reserve notes are housed at the U.S. Treasury department, the Treasury has
no say in how many are printed nor does it get to keep the new notes
printed. This new currency is given to the privately-owned national banks
for free (though they must pay a small printing charge of about 3 cents per
note).
These banks then spend this new money on whatever they like; they lend it to
state and local governments, to the federal government and to foreign
governments and to private citizens. They also spend some of this new
currency buying real estate, starting up media companies, etc. The Federal
Reserve Bank of New York, Inc., is by far the largest of the twelve Federal
Reserve bank corporations which comprise the Federal Reserve System. It was
reported that in 1992 this New York Federal Reserve bank directed the U.S.
Treasury to print 100 billion new Federal Reserve notes and send them to it
for free, which this bank then gave free to its stockholder national banks.
This is quite a sum for a group of private corporations to receive for free.
America's great strength was not Fed-inspired
We should point out that America did not become a superpower by issuing
Federal Reserve notes; these notes are recent arrivals. In 1913 the
privately-owned national banks' new Federal Reserve notes joined the U.S.
government's gold-backed Gold Certificates, the silver-backed Silver
Certificates and United States notes (the latter identical to Federal
Reserve notes except that they have red serial numbers and the government
gets these when they are printed). It was made to appear within the poorly
written Federal Reserve Act that the new Federal Reserve notes were to be
used only as "IOUs" between member banks, not intended for use by the
general public. The following is an excerpt from the Federal Reserve Act,
which calls for the printing of the new Federal Reserve notes . . .
"Federal Reserve notes, to be issued at the discretion of the Federal
Reserve Board for the purpose of making advances to Federal Reserve banks
through the Federal Reserve agents as hereinafter set forth and for no other
purpose, are hereby authorized. The said notes shall be obligations of the
United States and shall be receivable by all national and member banks and
Federal Reserve banks and for all taxes, customs, and other public dues.
They shall be redeemed in gold on demand at the Treasury department of the
United States."
The Statutes at Large of the United States of America from March 1913 to
March 1915. Volume XXXVIII, The Federal Reserve Act, Ch. 6, 1913, Sect. 16,
pg 265.
Of all the institutions mentioned above, only the Treasury department is
part of the government. The Federal Reserve banks are all privately-owned
with private stockholders. As we can see above, the term reserve is used to
make us think it really isn't currency, as in "We won't spend it, we'll keep
it in reserve". Or, one might think that these new notes are only intended
for use as "advances" to member banks.
America became strong with currency backed by gold right up until 1933 when
gold was banned, with currency backed by silver up until 1963, and with the
government's United States notes being printed up to 1982. It was only after
1982, when the national banks' Federal Reserve notes became the only U.S.
currency printed and used, that American social problems began to soar.
FedCorp interests try to make things appear as if America did better after
1913 when Federal Reserve notes first appeared, but in reality America was
much more prosperous between the years 1800 to 1900 when we had currency
backed by gold and silver (compared with the amount of technology
available).
The dangers of allowing "unbacked national banknotes" to be printed were
well understood when America was being founded. During the late 1700s there
were large banking interests attempting to establish a privately-owned bank
to print new U.S. currency for itself. Opposed to this foolish idea, Thomas
Jefferson clearly stated;
"If the American people ever allow private banks to control the issue of
their currency, first by inflation and then by deflation, the banks and the
corporations that will grow up around them will deprive the people of all
property until their children wake up homeless."
An excerpt from Catherine B Dalton's Constitutional Money and the Banking
Procedure. (Oreana, IL; Illinois Committee to Restore the Constitution,
1985).
It wasn't too long after the Federal Reserve Act of 1913 when Americans did
wake up homeless. The depression starting in 1929 was a direct result of
allowing the Federal Reserve to print too many free Federal Reserve notes
for the national banks, where many would speculate wildly on the stock
market. And might we wonder where the U.S. government borrowed all of the
money it needed during the depression of the 1930s ? The Federal Reserve -
this was the only institution to emerge strong after the crash, perhaps even
stronger. Strangely though, we don't find this mentioned within economic
books published in the U.S. Why ? Probably because many of these so-called
"complex economics" books are funded by the same superwealthy banking
interests who profited during the crash of 1929.
There is simply no evidence to support the supposed benefits of allowing a
privately-owned central bank to issue the currency of a nation, or group of
nations. The Federal Reserve corporation, which tells the U.S. Treasury
Department how much money to print and send to it each year, was established
in 1913. Ever since then, the U.S. quickly became involved in situations
which force the government to borrow heavily (like wars).
The problem we are now faced with, is trying to inform the general public of
this uncivilized little manner of "printing new currency to match growth in
social problems" when the American broadcast media is dominated by
pro-Federal Reserve interests (and money). The vast majority of the
newscasts shown on TV, we might add, are completely pro-NAFTA and CAFTA
while the public is not. Such bogus trade agreements have awakened
widespread concern within the U.S. military because they appear to
over-ride, perhaps even usurp, the United States Constitution. Rear Admiral
Chester Ward is well aware of this problem . . .
"The most powerful clique in these elitist groups have one objective in
common - they want to bring about the surrender of the sovereignty and the
national independence of the United States. A second clique of international
members comprises the Wall Street international bankers and their key
agents. Primarily, they want the world banking monopoly."
William E. Dunham, "Correction, Please!" The Review of the News (9 April
1980): 37-38.
Many economists believe that the Federal Reserve corporation has an agenda
quite different from that of the average American. It claims to be against
racism, yet its promotion of lowering wages and forcing peoples to
vigorously compete against each other is proven to be the biggest cause for
racism.
Private Federal Reserve interests go international
Federal Reserve money is funding organizations around the world to advertise
the message of linking several nations into large trading blocs (where a
privately-owned central bank will print the currency). These often have
names that include terms like "institutes for peace", "foreign relations"
and "international economics" but are more easily unveiled with their
uncanny devotion to world trade, low inflation and multi-culturalism. These
are the very same interests so pushing the CAFTA agreement. If the economies
of nations become so intertwined with trade then naturally they will all
need one common currency, and it would be racism to have only one of these
nations print the new currency, therefore, the currency must be printed by a
privately-owned central bank (to avoid racism).
The advertising ploy so often used involves an over-preoccupation with
stamping out racism - claiming that all wars are a result of racism, which
itself is a result of national sovereignty and borders. The only remedy for
which is to establish privately-owned central banks to print currency for
member nations, to have greater world trade, low import tariffs and to allow
massive immigration. The truth is, however, that war is a result of greed,
selfishness and the desire to take money and land from others, which is
exactly what these very amoral banking interests end up doing, they've done
it in America. The Federal Reserve corporation owns vast amounts of real
estate while 2,000,000 Americans are now homeless.
In America, the nation's schools have become so filled up with no-results
educational programs that it's hard to believe that any more can be created,
yet they are. There are so many new government-funded educational program
which requires more borrowing (and which doesn't work). Here again is a
prime example of the Federal Reserve interests' financial domination over
the American broadcast media, the larger problems are not tended to yet any
tiny problem is made to appear as so much more important (in great need of
ever more government spending).
Such nonsensical broadcasting encompasses almost all the commercial TV
channels in America. In their view, indiscriminate hatred and violence on TV
is okay, but merely speaking something about immigration or protecting U.S.
jobs is tantamount to hate and racism. In reality, the shipping of U.S. jobs
overseas hurts black Americans more than anything else. It is the
multi-national corporations promoting racism by encouraging such
foolhardiness, not good Americans of all colors who want high import tariffs
to protect domestic jobs.
World trade organizations really believe they are helping to insure
international peace by encouraging greater international competition under
NAFTA and CAFTA. Yet they are inadvertently promoting widespread social
problems by fostering the unstable theories mentioned, the latter views
being funded by privately-owned central banking interests (ie: the Federal
Reserve corporations). In their mixed up view it is individual nations,
borders and sovereignty thought to be the real causes for war, yet this is a
wholly incorrect and biased point of view.
Having respect for one's own nation and treasuring one's own culture doesn't
mean someone has to hate anybody else's. In fact, the more we respect our
own culture the more we tend to respect other cultures. Racism results from
an unhappiness with one's own situation, not when one is pleased with it.
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