No Reason to have a Fed Reserve run by the Banksters

C0INB0Y

What an incredible admission by the US Govt. !

"United States Notes (characterized by a red seal and serial number), originally issued in 1862, were the first National currency. Federal Reserve Notes were not issued until the creation of the Federal Reserve System in 1913. Both types of notes were redeemable in gold until 1933, when the United States abandoned the gold standard. Since then, both currencies have served essentially the same purpose, and have had the same value. Because United States Notes serve no function that is not already adequately served by Federal Reserve Notes, their issuance was discontinued, and none have been placed into circulation since January 21, 1971."

mrpaseo

Ahhhh what is it that they are admitting?

1jester

That we are slaves to the banksters and will be forced into a ponzi scheme and a debt load which can never be repaid since we are forced by law (legal tender laws) to use Federal Reserve notes which are borrowed at interest. Kennedy was the last to try to use US notes, for which no interest is paid to the banksters.

ricko

All financial schemes eventually fail.... eventually the house of cards topples... Cheers, RickO

C0INB0Y

<< <i>Ahhhh what is it that they are admitting? >>



Since then, both currencies have served essentially the same purpose, and have had the same value. Because United States Notes serve no function that is not already adequately served by Federal Reserve Notes, their issuance was discontinued

The Fed is a private consortium of ToBigToFail Banks (working as a Central Bank), given the monopoly by the US Gov. to issue currency for the US Govt.

Before the Fed Reserve was created, Lincoln issued notes direct in 1862, by issuing a total of $450,000,000 "Greenbacks", he by-passed borrowing from private Banks at the time who wanted 10-20% interest for the service to fund the War.

It’s so simple, it’s so elegant, it is the solution of death for the Central Bank; to create a non-debt-based fiat money issued directly from the US Treasury.

T-Bill Interest rates will NEVER be allowed to rise beyond 1% going forward because higher % rates will now will destroy any type of Fed Budget in the future. All revenue will be diverted to just fund the Interest created by allowing the Central Bank to charge the US for its own money!

I'm not a big fan of allowing Jamie Dimond and the rest of them to be wealthy on the backs of citizens.

If the US Treasury issues the currency DIRECT, without any interest, you don't need the Central Bank.

The US Govt will call in all Treasury Bonds at face value, and exchange them for US Notes now issued in exchange for the T-Bill Paper.

mrpaseo

And why doesn't the government do this? (Make their own currency)

derryb

<< <i>And why doesn't the government do this? (Make their own currency) >>


The theory is that taking the power to directly do so from the hands of politicians will prevent them from abusing it.

so much for that theory. With a central bank, they can still abuse it but not take responsibility.

C0INB0Y

<< <i>so much for that theory. With a central bank, they can still abuse it but not take responsibility. >>




*BINGO* !

jmski52

There are two parties complicit in this scam, the ones who counterfeit US money, and the ones who allow them to do it. Both parties are equally guilty.

If US Notes were still being issued and Federal Reserve Notes didn't exist, the government could/would still be abusing taxpayers - the current system simply illustrates who owns whom.

And either way, the taxpayers are still at the bottom of the heap, paying for it all and getting minimal return.

jmski52

Because United States Notes serve no function that is not already adequately served by Federal Reserve Notes, their issuance was discontinued

I had to revisit this. This is very revealing. While there is no added function for the United States Notes, there is indeed a very stark additional function being served by the Federal Reserve Note that the United States Notes didn't.

This, of course is the enrichment of the bankers. Nothing more.

C0INB0Y

EXACTLY why I started the Thread!

This is a stunning 'admission' as it is stating in essence, we are just subcontracting out our money to a Central Banker even though we can do it ourselves.

The sentence slipped thru by someone slapping at the system.

FWIW, I have no relatives that work at Treasury.

s4ny

The relationship between the Fed and the US Treasury works very well. There is a degree of separation
between the Fed and the President and Congress to enable the Fed to act independently of most political
pressure.

The Fed Board of Governors are nominated by the President and approved by Congress then are independent.

CaptHenway

I don't see any big deal here.

C0INB0Y

<< <i>I don't see any big deal here. >>



Me too!

The only big Deal is that the Bankster Fed gets to Charge us interest on our own money.

The barrowing by the US Govt. and the offsetting interest rate needed to encourage buyers of the Debt has forced the Fed to monetize issuance of T-Bills.

The Debt is so HIGH now that raising interests in the future will accelerate payment of all collected Tax revenue BEFORE the deficit into Interest Payments. So really, right now by defacto, the interest charged to the USA is in effect near zero.

We are entering the "lost Decade" scenario of Japan. (BTW, Japan's Central Bank has no decided that it will monetize Japans' debt sales)

For the USA, it will be impossible for the FED to ever raise interest rates without encouraging a revolt of the Fed Reserve System (they lose the 'Franchise').

The Fed gets to control all of the Member Banks who are inturn NOT paying savers any interest on deposits.


My head is gonna explode thinking about this in anymore detail, sorry, I have kids, so I can't........

1jester

I don't see how it's mathematically possible to ever pay off the debt if every dollar is borrowed from the private for profit Federal Reserve! So it's not only a ponzi scheme, it's a pyramid scheme and our people are indebted into infinity or until the house of cards topples (which it will). Meantime, the gangster banking cartel take our money in every conceivable way, by charging us for the privilege of using our own money, by printing into infinity (theft by inflation), etc. As some wise person said nearly a century ago, if the American people were to ever figure out the criminality of the banking system, there would be a revolution before the morrow.

C0INB0Y

CNBC’s Joe Kernan and Harvard Business School professor Robert Kaplan were not impressed with article’s reasoning, saying on Monday that its authors are either willfully dishonest or simply ignorant of economic principles:

“I don’t understand it. They might want to rewrite that sentence,” said Kaplan.

The Harvard Business School professor continued, explaining that the Federal Reserve’s artificially low interest rates have shielded us from feeling the full effects of the national debt.

“My fear is this,” he said. “This deficit doesn’t feel that bad and this amount of debt doesn’t feel that bad because interest rates are so low.”

“Imagine if we had, quote, unquote normal interest rates, 5 percent, 6 percent, 10-year, we would be taking much tougher action [on the national debt],” he added. “And we shouldn’t wait for that.”

derryb

<< <i>CNBC’s Joe Kernan and Harvard Business School professor Robert Kaplan were not impressed with article’s reasoning, saying on Monday that its authors are either willfully dishonest or simply ignorant of economic principles:

“I don’t understand it. They might want to rewrite that sentence,” said Kaplan.

The Harvard Business School professor continued, explaining that the Federal Reserve’s artificially low interest rates have shielded us from feeling the full effects of the national debt.

“My fear is this,” he said. “This deficit doesn’t feel that bad and this amount of debt doesn’t feel that bad because interest rates are so low.”

“Imagine if we had, quote, unquote normal interest rates, 5 percent, 6 percent, 10-year, we would be taking much tougher action [on the national debt],” he added. “And we shouldn’t wait for that.” >>


Pain never hurts if you take enough vicodin. Problem is running out of vicodin.
While the deficit doesn't feel so bad with artificially low interest rates (for now), ask your retired relatives about the interest their life-long savings is earning.