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THE FEDERAL RESERVE FOR DUMMIES

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Jim Carter

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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

H.R. 3778: More crap from CRAPitol Hill

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Marti Oakley     

Copyright 2012 All Rights Reserved

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In what is clearly another of those actions meant to deceive the public into thinking someone in the District of Criminals is actually trying to accomplish something meaningful, comes this bill regarding raising the debt ceiling.  A cursory read may make you think the intent is to prevent raising the ceiling, thereby preventing an increase in the overall national debt.  We could only hope!  Unfortunately, this bill H.R. 3778, is simply a tactic used to make it appear that (in this particular case) the Republicans are really, really serious about stopping the mindless spending that they themselves have contributed to right along with the Democrats.

Take a closer look.  You’ll see this bill has nothing to do with limiting federal spending.

Washington, D.C. newspaper The Hill is reporting:

“Rep. Doug Lamborn (R-Colo.) on Wednesday introduced a bill that would prevent Congress from considering an increase in the debt ceiling unless both the House and Senate have approved a concurrent budget resolution, something the Senate has not done in nearly three years.”

Lamborn said his bill would at least require a budget to be in place before these debt ceiling increases can occur.

“Today I have introduced a bill to stop this madness,” he said on the floor. “The Budget Before Borrowing Act,” H.R. 3778, is a straightforward, no-gimmicks approach to spending money. It very simply says that the nation cannot raise the debt ceiling limit unless the House and the Senate have agreed on a budget resolution.” 

Did you catch the “approach to spending money” comment? More

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