The Federal Reserve System is neither federal, nor does it have any reserves. The Fed is a system of private banks, owned by rich foreign and American bankers. It is the biggest scam ever perpetrated upon the American people. It is the reason we have inflation.
Last week, as the stock market experienced wild ups and downs, I watched 5 guest panelists on CNBC express their opinions on the reasons for the volatility. Actually, seven people interrupted and talked over one another in their zeal to get their points across. The two hosts, who were supposed to be interviewing the five panelists, spent most of the time expressing their own opinions. The one common denominator was that all seven continually referred to "The Fed," wondering how that institution might move to solve the problem. I had to laugh. These were supposedly sophisticated people, representatives of financial and educational institions and think tanks. And yet they seemed to be as painfully ignorant of the truth concerning the "The Fed" (more formally known as The Federal Reserve System) as the average American on the street.
The simple truth is that The Federal Reserve System is neither federal, nor does it have any reserves. The Fed is a system of private banks, owned by rich foreign and American bankers. It is the biggest scam ever perpetrated upon the American people. It is the reason we have inflation.
The Fed is also behind the huge increase in the national debt, which has ballooned five-fold since 1967 (see chart at www.ConservativeTruth.org). In 1967 the amount every American would have to pony up to pay off the national debt was about $28,000. Today that number is in excess of $140,000. But don't worry. The debt will never be paid off. Like all banks, the Fed would rather have the interest on the loan (the national debt) than the principal, because they make trillions of dollars from the US being in debt.
The Bible teaches us that the debtor is a slave to the lender. That is the relationship of the United States of America to The Federal Reserve System. Our government (and by extension every American) is a slave to the private bankers who own The Fed.
"But wait a minute! Doesn't the government control The Fed? Doesn't the president appoint the Chairman of the Federal Reserve?" Yes, the president appoints the Chairman. And no, the government does not control The Fed. In fact it is the other way around. The Federal Reserve System controls the government. Baron M. Rothschild once wrote, "Give me control over a nation's currency and I care not who makes its laws." The Fed has taken the Baron one step further. It not only controls the currency; it also controls the politicians. Believe me, no one could ever become the Chairman of The Fed without the OK of the unbelievably wealthy foreign and American bankers who control this nation.
Let's break down the name. Federal. Reserve. System.
FEDERAL: As I said above, there is NOTHING Federal about The Fed. It is not owned or even controlled by the Federal government. It prints worthless money, and LENDS that money to our government, charging the government (and We, the People) INTEREST on the worthless money it prints.
RESERVE: It has NO RESERVES. And its member banks are only required to maintain 10% reserves. That means they can lend out $10 Million for very $1 Million they have on deposit. What a scam! To make matters worse, they pay us pitiful returns on our money, ranging from ¼% to (if you're wealthy and have a CD worth a hundred thousand dollars or more) 4 or 5%. Then they lend out OUR money at four to forty times that much interest.
SYSTEM: This word was deliberately used to mislead the American people. The Fed is a Central Bank, much like most Socialist European countries have. It is actually the third Central Bank forced upon the American people (more on this in later articles). Both other attempts led the nation down the road to ruin, causing financial disasters and causing Americans to mistrust any type of Central Bank. Thus the use of the word System rather than Bank.
True to form, The Fed caused the crash of 1929 and the resulting Great depression. In just two months the stock market lost fifty per cent of its value. The life savings of many were wiped out, and hundreds committed suicide. Millions lost homes and businesses through home foreclosures and banks calling in the loans of businesses. Guess who got those homes and commercial properties? You're catching on. The filthy rich (and morally filthy) bankers of the Federal Reserve System.
Louis McFadden who was Chairman of the House Banking Committee during the1930's said about the stock market crash of 1929: "It was not accidental; it was a carefully contrived occurrence. The international bankers sought to bring about a condition of despair so that they might emerge as ruler of us all."
No one worked harder to expose the corruption of The Fed than Louis T. McFadden. On June 10, 1932 he spoke on the floor of the House of Representatives, "We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board, which has cheated the government of the United States out of enough money to pay the national debt. The depredations and the inequities of the Federal Reserve Board and the Federal Reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States; has bankrupted itself, and has practically bankrupted our government. It has done this through the mal-administration of that law by which the Federal Reserve Board exists, and through the corrupt practices of the moneyed vultures who control it."
These gentlemen don't sound like big fans of The Fed, do they? What about the Founding Fathers, who (having suffered under the central banks of Europe and knowing of their evils) wrote strong language into the Constitution forbidding just such institutions as The Federal Reserve System (more on this in a future article)?
As we close, let's hear from one of the most influential of our Founding Fathers. "The Central Bank is an institution of the most deadly hostility existing against the principles and forms of our constitution
.if the American people allow the private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their forefathers conquered. The issuing power of money should be taken from the banks and restored to congress and the people to whom it belongs. I sincerely believe the banking institutions having the issuing power of money, are more dangerous to liberty than standing armies."
So will the private bankers who own The Fed help stabilize our markets? Only if it helps line their pockets. In 1929, just sixteen years following the evil pact that created the cartel we know as The Fed, the bankers could easily have prevented the coming Depression by simply pumping money into the market to stimulate the economy and to get it going again. Instead, they did exactly the opposite when they severely limited the money supply. Why? Because it was best for THEM. (Remember those trillions of dollars worth of properties they took from their owners and later sold at fat profits?)
The Fed will always do what is best for The Fed, which is to say that they will always do what is best for the obscenely rich banking families of Europe and America who own it. They don't care about what is best for America.
Dr. Tom Barrett has been an ordained minister for 30 years. He has written for local and national publications for most of his life, and has authored several non-fiction books. He has been interviewed on many TV and radio programs, and speaks at seminars nationwide. Tom is the editor and publisher of Conservative Truth, an email newsletter read by over fifty thousand weekly which focuses on moral and political issues from a Biblical viewpoint.