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Jim Carter


What difference does an increase in the National Debt make? We owe it to ourselves.” virtually every congress-critter has declared. Such a paraphrased program gives the federal government/ congress purchasing power not previously available—to buy votes from home. Unfortunately, the inflation created dilutes the purchasing power and value of assets owned by individuals. The system also conceals the immense transfer of value to bankers, which has justified the intense subterfuge and arm-twisting necessary for the Fed’s creation—that this paper exposes. The inherent destructive forces, evidenced by historic Rothschild banking1 and mathematical analysis, are also identified.

The medieval Rothschild banks established a line of credit for the King provided he pledged collateral with a written promise to pay gold with interest to the bearer at a time in the future. The book-entry Rothschild credit was used to satisfy obligations incurred by the king. The credit continued to be circulated in the kingdom between merchants. The bankers sold the king’s promise to investors for hoarded gold. The promise (security) was renewed by the bank on its maturing date and became perpetually rolled-over. 2

VOILA !!! The king made the suppliers of services happy with Rothschild credit; the bankers had the gold from investors; the investors gained interest on their assets and a promise the king would eventually return their gold—which would never happen.3 Everything went smoothly as long as the bankers could sell the promise and the investors, or merchants, did not demand the gold.4 The king would pay the interest with more credit from the bank so the credit cost nothing. The schemes stole the wealth from the people with its book-entry fiat money5 until the people brought a catastrophic climax.6

The Federal Reserve system does the same thing with the U.S. government’s deficit spending. The banking wizard is hiding behind Frank Baum’s curtain of the government image Federal Reserve marquee7 as obscurant to any public inquiry.8 The Federal Reserve Bank of New York will grant credit (not “create money”) in an account of the U.S. government in an amount that the government will pledge. 9 The government will expend the book-entry-credit account (deficit spending) to pay for goods and services consumed by the government. The suppliers are content. Evidence that the supplier has received a credit voucher is obvious. The heading of the currency given to the supplier by a local commercial bank is Federal Reserve Note; i.e., a debt obligation of the Federal Reserve. Historically, it was identified to be redeemable for gold, silver, or lawful money. It is now identified as a “tender” (substitute) required by law to be accepted for an imprinted number of dollars. What you have is what you get. [It is touted to the public as a loan.] 10 More



Author: OldReb


Doom and gloom are appearing with increased frequency in U.S. and global financial writings but specific details of a potential economic catastrophe are never given. Let us speculate on what could happen in the United States.

Is a view into an economic catastrophe available ?

ANSWER: Sure, that is easy. Read what has happened to Greece and Argentina. William Blum, John Perkins, and Chossudovsky give many more examples. Bank deposits have been seized; pensions have been wiped out; jobs have been terminated; real estate and assets are selectively confiscated; the economy crashes; national assets are sold at fire-sale prices to financiers; financiers must approve every government action; etc. The same New York City parties, and their proxies, are repeatedly involved.

How might it be handled in the U.S. ?

ANSWER: The Federal Reserve Bank of New York City will handle it. They have exclusive handling of funds to redeem Treasury securities—as a fiscal agent for the government. They will select who gets funds which the government has available. Ref. 31 CFR 375.3.

Who will benefit from the crash?

ANSWER: Primary Dealers currently receive >$10 trillion annually for redeeming Treasury securities. Some of them were involved in creating the Federal Reserve. The concept that they hold ownership of the Board of Governors, in a closely held corporation that does not have to file with the SEC, should not be overlooked. Furtive acts abound in the creation of the Fed. Their derivatives creations have obtained super-priority status in bankruptcy. More

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