I deal with a local, individually owned bank, which is not a ’national’ bank. I know the owner and consider Garth a friend. He runs his bank well, is careful about who he lends to, his chief loan officer is in my Kiwanis Club, and I know all the personnel by first name. My account number has but six numbers, and I feel quite comfortable dealing there. The largest bank in the US has 12 branches, few know who owns it, and it has more power than does the government, some say. It probably does, because it controls the money supply. The largest bank is privately owned like mine, but seems to have mostly foreign ownership. It makes huge profits, and is unconstitutional. The Constitution says that the government is supposed to issue and set the value of the money, not a mostly foreign owned central bank (Article 1, Section 8). The Constitution says nothing about a central bank, and gives no permission for such.
Must reading for everyone reading my stuff is the book titled, “The Creature From Jekyll Island.” This book gives details of how the Federal Reserve was founded. As I have said before, it is not “federal,” and has no “reserve.” Among the owner member banks are: Rothschild Bank of London, Warburg Bank of Hamburg, Rothschild Bank of Berlin, Lehman Brothers of New York, Lazard Brothers of Paris, Kuhn Loeb Bank of New York, Israel Moses Seif Banks of Italy, Goldman Sachs of New York, Warburg Bank of Amsterdam, and Chase Manhattan Bank (Citi) of New York. The details are not well known, but it doesn’t really matter, because the whole thing is an outrage of the highest order. Even if it were owned by Americans, it is still a total fraud and rip-off of every single citizen of the United States.
All Congressmen and Senators know about the Fed, as does the President and every single candidate for office in D.C. State legislators might not be familiar with this phenomenon, but they should. Everyone should know, because it harms everyone, causes inflation, high taxes, and is such a drag on everyone, that it should be exposed for what it is. My bank doesn’t borrow money to loan money, because it loans from savings its depositors left for safe keeping, which is the way a bank should run. Now consider a few things:
The national debt is $9 trillion, and long term over $40 trillion. Hundreds of billions of dollars in interest are paid each year to those who loan and create the money. If you look on your dollar bills, you will notice that it says that it is a “Federal Reserve Note,” not a ’treasury note’ or a bill issued by the federal government, even though United States is printed all over it. The dollar bills are issued by the Federal Reserve, a privately owned bank. Unlike conservative, well run banks, who loan to customers based on funds on deposit, the Federal Reserve, creates money out of thin air. Literally! As Helicopter Ben said in a previous quote, ’We (Federal Reserve) have the power to create dollars out of thin air, and if necessary can drop them from helicopters.’ If an outfit controls the money, is it fair to say that they are the most powerful entity in America?
Want a opinion by my hero? “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around (the banks) will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” Thomas Jefferson in a letter he wrote to Secretary of the Treasury Albert Gallatin in 1802. There was no central bank then. Before the Federal Reserve, there were two similar ones, which were removed by responsible Presidents.
If I stole a car and sold it to someone, it would be a 100% profit, wouldn’t it? If I stole a car, sold it to someone, and financed it for the buyer at maybe 6% interest, it would be even more profitable, wouldn’t it? If I robbed a bank, got away with it, and loaned the money at interest, it would be hilariously profitable, wouldn’t it? The Federal Reserve does exactly that. It creates money by printing it, loans it to the government, and collects interest on the money. It’s the same as the stealing the car or robbing the bank scenario! What’s the difference? The Federal Reserve has a license to do it, and if we robbed the bank or stole the car, we might end up in jail.
JFK knew this, and until he was assassinated, he bypassed the Federal Reserve and had Treasury Notes issued, and intended to abolish the Federal Reserve. He also intended to abolish the CIA, and stop the Vietnam nonsense which had just begun. He also was sleeping with a gangsters’ girlfriend. Who did him in? That’s another subject, but it wasn’t Lee Harvey Oswald!
The question is: Why has the Federal Reserve been allowed to continue robbing America? Why hasn’t someone, other than Ron Paul, urged the abolition of the Federal Reserve? Are they all crooked or bought out? Yours to answer, but I urge you to get that book. Last column till I return from vacation in a week or so. Meantime, beginning Monday, call my son David for service. His is the first number on the web site. A few of you may have your checks stuck in the post office till I return, but all is secure and prices locked in. Aren’t you glad? The entire world is grasping for something secure, and gold is the best security there is. How long till gold hits $1,000? Not long in my opinion. Protect yourself and have a great weekend.