http://theeconomiccollapseblog.com/wpcontent/themes/atahualpa/images/icons/user.gif By Michael Snyder, on December 22nd, 2013
<http://theeconomiccollapseblog.com/archives/on-the-100th-anniversary-of-the-federal-reserve-here-are-100-reasons-to-shut-it-down-forever/who-runs-the-world-solid-proof-that-a-core-group-of-wealthy-elitists-are-pulling-the-strings-3>
The Federal Reserve December 23rd, 1913 is a date which will
live in infamy. That was the day when
the Federal Reserve Act was pushed through Congress. Many members of Congress were absent that
day, and the general public was distracted with holiday preparations. Now we have reached the 100th anniversary of
the Federal Reserve, and most Americans still don't know what it actually is or
how it functions. But understanding the
Federal Reserve is absolutely critical, because the Fed is at the very heart of
our economic problems.
Since the Federal Reserve was created, there have been 18
recessions or depressions, the value of the U.S. dollar has declined by 98
percent, and the U.S. national debt has gotten more than 5000 times larger. This insidious debt-based financial system
has literally made debt slaves out of all of us, and it is systematically
destroying the bright future that our children and our grandchildren were
supposed to have. If nothing is done, we
are inevitably heading for a massive amount of economic pain as a nation. So please share this article with as many
people as you can. The following are 100
reasons why the Federal Reserve should be shut down forever...
#1 We like to think that we have a government "of the
people, by the people, for the people", but the truth is that an unelected,
unaccountable group of central planners has far more power over our economy
than anyone else in our society does.
#2 The Federal Reserve is actually "independent"
of the government. In fact, the Federal Reserve has argued vehemently in
federal court that it is "not an agency" of the federal government
and therefore not subject to the Freedom of Information Act. <http://www.wlf.org/Upload/legalstudies/legalopinionletter/102309Fleschert_LOL.pdf>
#3 The Federal Reserve openly admits that the 12 regional
Federal Reserve banks are organized "much like private corporations".<http://www.federalreserveeducation.org/faq/topics/fed_basics.cfm>
#4 The regional Federal Reserve banks issue shares of stock
to the "member banks" that own them.<http://www.federalreserveeducation.org/faq/topics/fed_basics.cfm>
#5 100% of the shareholders of the Federal Reserve are
private banks. The U.S. government owns zero shares.<http://www.globalresearch.ca/who-owns-the-federal-reserve>
#6 The Federal Reserve is not an agency of the federal
government, but it has been given power to regulate our banks and financial
institutions. This should not be
happening.
#7 According to Article I, Section 8 of the U.S.
Constitution, the U.S. Congress is the one that is supposed to have the
authority to "coin Money, regulate the Value thereof, and of foreign Coin,
and fix the Standard of Weights and Measures". So why is the Federal Reserve doing it?
<http://www.usconstitution.net/const.html#A1Sec1>
#8 If you look at a "U.S. dollar", it actually
says "Federal Reserve note" at the top. In the financial world, a "note" is
an instrument of debt.
#9 In 1963, President John F. Kennedy issued authorized the
U.S. Treasury to issue "United States notes" which were created by
the U.S. government directly and not by the Federal Reserve. He was
assassinated shortly thereafter.
<http://www.presidency.ucsb.edu/ws/?pid=59049> Executive
Order 11110which
#10 Many of the debt-free United States notes issued under
President Kennedy are still in circulation today.
<http://theeconomiccollapseblog.com/archives/debt-free-united-states-notes-were-once-issued-under-jfk-and-the-u-s-government-still-has-the-power-to-issue-debt-free-money>
#12 The Federal Reserve has become so powerful that it is
now known as " the fourth branch of government".<http://theeconomiccollapseblog.com/archives/10-things-that-every-american-should-know-about-the-federal-reserve>
#13 The greatest period of economic growth in U.S. history
was when there was no central bank.<http://theeconomiccollapseblog.com/archives/during-the-best-period-of-economic-growth-in-u-s-history-there-was-no-income-tax-and-no-federal-reserve>
#14 The Federal Reserve was designed to be a perpetual debt
machine. The bankers that designed it
intended to trap the U.S. government in a perpetual debt spiral from which it
could never possibly escape. Since the
Federal Reserve was established 100 years ago, the U.S. national debt has
gotten more than 5000 times larger.
<http://theeconomiccollapseblog.com/archives/where-does-money-come-from-the-giant-federal-reserve-scam-that-most-americans-do-not-understand>
#15 A permanent federal income tax was established the exact same year that the Federal Reserve was created. This was not a coincidence. In order to pay
for all of the government debt that the Federal Reserve would create, a federal
income tax was necessary. The whole idea was to transfer wealth from our
pockets to the federal government and from the federal government to the
bankers. <http://en.wikipedia.org/wiki/Revenue_Act_of_1913>
#16 The period prior to 1913 (when there was no income tax)
was the greatest period of economic growth in U.S. history.<http://theeconomiccollapseblog.com/archives/during-the-best-period-of-economic-growth-in-u-s-history-there-was-no-income-tax-and-no-federal-reserve>
#17 Today, the U.S. tax code is about13 miles long.<http://www.cnsnews.com/blog/gregory-gwyn-williams-jr/obama-proposes-more-taxes-tax-code-already-13-miles-long>
#18 From the time that the Federal Reserve was created until
now, the U.S. dollar has lost 98 percent of its value.<http://www.youtube.com/watch?v=Fdfq-sDgFU8>
#19 From the time that President Nixon took us off the gold
standard until now, the U.S. dollar has lost83 percent of its value. <http://www.theburningplatform.com/2013/12/17/keeping-it-real/>
#20 During the 100 years before the Federal Reserve was
created, the U.S. economy rarely had any problems with inflation. But since the Federal Reserve was established,
the U.S. economy has experienced constant and never ending inflation. <http://www.theburningplatform.com/2013/12/17/keeping-it-real/>
#21 In the century before the Federal Reserve was created,
the average annual rate of inflation was about half a percent. In the century
since the Federal Reserve was created, the average annual rate of inflation has
been about 3.5 percent.
<http://www.zerohedge.com/news/2013-09-12/two-centuries-inflation>
#22 The Federal Reserve has stripped the middle class of
trillions of dollars of wealth through the hidden tax of inflation.
#23 The size of M1 has nearly doubled since 2008 thanks to
the reckless money printing that the Federal Reserve has been doing. <http://theeconomiccollapseblog.com/wpcontent/uploads/2013/12/M1-Money-Supply-2013.png>
#24 The Federal Reserve has been starting to behave like the
Weimar Republic, and we all remember how that ended.<http://theeconomiccollapseblog.com/archives/quantitative-easing-worked-for-the-weimar-republic-for-a-little-while-too>
#26 Since the Federal Reserve was created, there have been18
distinct recessions or depressions: 1918,1920, 1923, 1926, 1929,1937, 1945,
1949, 1953, 1958, 1960, 1969, 1973, 1980, 1981, 1990, 2001,2008.
<http://www.sovereignman.com/finance/check-out-the-feds-dismal-track-record-12924/>
#27 Within 20 years of the creation of the Federal Reserve,
the U.S. economy was plunged into the Great Depression.
#28 The Federal Reserve created the conditions that caused
the stock market crash of 1929, and even Ben Bernanke admits that the response
by the Fed to that crisis made the Great Depression even worse than it should
have been. <http://www.wnd.com/2008/03/59405/>
#29 The "easy money" policies of former Fed
Chairman Alan Greenspan set the stage for the great financial crisis of 2008.
#30 Without the Federal Reserve, the "subprime mortgage
meltdown" would probably never have happened.
#31 If you can believe it, there have been 10 different
economic recessions since 1950. The
Federal Reserve created the "dotcom bubble", the Federal Reserve
created the "housing bubble" and now it has created the largest bond
bubble in the history of the planet.
<http://endoftheamericandream.com/archives/is-the-federal-reserve-doing-a-good-job>
<http://theeconomiccollapseblog.com/archives/farewell-bernanke-thanks-for-inflating-the-biggest-bond-bubble-the-world-has-ever-seen>
#32 According to an official government report, the Federal
Reserve made 16.1 trillion dollars in secret loans to the big banks during the
last financial crisis.
<http://theeconomiccollapseblog.com/archives/have-you-heard-about-the-16-trillion-dollar-bailout-the-federal-reserve-handed-to-the-too-big-to-fail-banks>
The following is a list of loan recipients that was taken directly
from page 131 of the report...
<http://www.scribd.com/doc/60553686/GAO-Fed Investigation#outer_page_144>
Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion
#33 The Federal Reserve also paid those big banks $659.4
million in "fees" to help "administer" those secret loans.
<http://www.scribd.com/doc/60553686/GAO-Fed-Investigation>
#34 During the last financial crisis, big European banks
were allowed to borrow an "unlimited" amount of money from the
Federal Reserve at ultra-low interest rates.
<http://www.dailymail.co.uk/news/article2037737/Eurozone-crisis-George-Osborne-warns-time-running-flies-Poland-summit.html>
#35 The "easy money" policies of Federal Reserve
Chairman Ben Bernanke have created the largest financial bubble this nation has
ever seen, and this has set the stage for the great financial crisis that we
are rapidly approaching.
<http://theeconomiccollapseblog.com/archives/15-signs-that-we-are-near-the-peak-of-an-absolutely-massive-stock-market-bubble>
#36 Since late 2008, the size of the Federal Reserve balance
sheet has grown from less than a trillion dollars to more than 4 trillion
dollars. This is complete and utter insanity.<http://www.zerohedge.com/news/2013-12-19/feds-balance-sheet-rises-record-401-trillion>
#37 During the quantitative easing era, the value of the
financial securities that the Fed has accumulated is greater than the total
amount of publicly held debt that the U.S. government accumulated from the
presidency of George Washington through the end of the presidency of Bill
Clinton.
<http://cnsnews.com/news/article/terence-p jeffrey/339t-quantitative-explosion-fed-owns-more-treasuries-and-mbs-publicly>
#38 Overall, the Federal Reserve now holds more than 32
percent of all 10 year equivalents, and that percentage is rising by about 0.3
percent each week.
<http://www.zerohedge.com/news/2013-11-14/only-two-charts-matter-fed>
#39 Quantitative easing creates financial bubbles, and when
quantitative easing ends those bubbles tend to deflate rapidly.
<http://theeconomiccollapseblog.com/archives/how-far-will-stocks-fall-this-time-when-the-fed-decides-to-slow-down-quantitative-easing>
#40 Most of the new money created by quantitative easing has
ended up in the hands of the very wealthy.
<http://theeconomiccollapseblog.com/archives/federal-reserve-whistleblower-tells-america-the-real-reason-for-quantitative-easing>
#41 According to a prominent Federal Reserve insider,
quantitative easing has been one giant "subsidy" for Wall Street
banks. <http://theeconomiccollapseblog.com/archives/federal-reserve-whistleblower-tells-america-the-real-reason-for-quantitative-easing>
#42 As one CNBC article recently stated, we are seeing
absolutely rampant inflation in "stocks and bonds and art and
Ferraris". <http://www.cnbc.com/id/101283037>
#43 Donald Trump once made the following statement about
quantitative easing: "People like me will benefit from this." <http://theeconomiccollapseblog.com/archives/federal-reserve-whistleblower-tells-america-the-real-reason-for-quantitative-easing>
#44 Most people have never heard about this, but very interesting study conducted for the Bank of England
shows that quantitative easing actually increases the gap between the wealthy
and the poor. <http://www.cnbc.com/id/49031991>
#45 The gap between the top one percent and the rest of the
country is now the greatest that it has been since the 1920s.
<http://www.cnbc.com/id/101025377>
#46 The mainstream media has sold quantitative easing to the
American public as an "economic stimulus program", but the truth is
that the percentage of Americans that have a job has actually gone down since
quantitative easing first began.
<http://theeconomiccollapseblog.com/wpcontent/uploads/2013/12/Employment-Population-Ratio-20131.png>
#47 The Federal Reserve is supposed to be able to guide the
nation toward "full employment", but the reality of the matter is
that an all-time record 102 million working age Americans do not have a job
right now. That number has risen by about
27 million since the year 2000.
<http://theeconomiccollapseblog.com/archives/10-facts-about-the-growing-unemployment-crisis-in-america-that-will-blow-your-mind>
#48 For years, the projections of economic growth by the
Federal Reserve have consistently overstated the strength of the U.S. economy.
But every single time, the mainstream media continues to report that these
numbers are "reliable" even though all they actually represent is
wishful thinking.
<http://www.zerohedge.com/news/2013-12-19/feds-economic-projections-myth-vs-reality-dec-2013>
#49 The Federal Reserve system fuels the growth of
government, and the growth of government fuels the growth of the Federal
Reserve system. Since 1970, federal spending has grown nearly 12 times as
rapidly as median household income has.
<http://www.zerohedge.com/news/2013-08-08/40-years-unbearable-heaviness-being-american-taxpayer>
#50 The Federal Reserve is supposed to look out for the
health of all U.S. banks, but the truth is that they only seem to be concerned
about the big ones. In 1985, there were
more than 18,000 banks in the United States. Today, there are only 6,891 left. <http://online.wsj.com/news/articles/SB10001424052702304579404579232343313671258>
#51 The six largest banks in the United States (JPMorgan
Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan
Stanley) have collectively gotten 37 percent larger over the past five years.
<http://theeconomiccollapseblog.com/archives/too-big-to-fail-banks-are-taking-over-as-number-of-u-s-banks-falls-to-all-time-record-low>
#52 The U.S. banking system has 14.4 trillion dollars in
total assets. The six largest banks now account for 67 percent of those assets
and all of the other banks account for only 33 percent of those assets.
<http://finance.fortune.cnn.com/2013/09/13/too-big-to-fail-banks/>
#53 The five largest banks now account for 42 ercent of all loans in the United States.
<http://finance.fortune.cnn.com/2013/09/13/too-big-to-fail-banks/>
#54 We were told that the purpose of quantitative easing is
to help "stimulate the economy", but today the Federal Reserve is
actually paying the big banks not to lend out 1.8 trillion dollars in
"excess reserves" that they have parked at the Fed.
<http://theeconomiccollapseblog.com/archives/the-federal-reserve-is-paying-banks-not-to-lend-1-8-trillion-dollars-to-the-american-people>
#55 The Federal Reserve has allowed an absolutely gigantic
derivatives bubble to inflate which could destroy our financial system at any
moment. ight now, four of the "too big to fail" banks
each have total exposure to derivatives that is well in excess of 40 trillion
dollars.
<http://theeconomiccollapseblog.com/archives/too-big-to-fail-banks-are-taking-over-as-number-of-u-s-banks-falls-to-all-time-record-low>
#56 The total exposure that Goldman Sachs has to derivatives
contracts is more than 381 times greater than their total assets. <http://theeconomiccollapseblog.com/archives/too-big-to-fail-banks-are-taking-over-as-number-of-u-s-banks-falls-to-all-time-record-low>
#57 Federal Reserve Chairman Ben Bernanke has a track record
of failure that would make the Chicago Cubs look good.<http://theeconomiccollapseblog.com/archives/say-what-30-ben-bernanke-quotes-that-are-so-stupid-that-you-wont-know-whether-to-laugh-or-cry>
#58 The secret November 1910 gathering at Jekyll Island,
Georgia during which the plan for the Federal Reserve was hatched was attended
by U.S. Senator Nelson W. Aldrich, Assistant Secretary of the Treasury
Department A.P. Andrews and a whole host of representatives from the upper
crust of the Wall Street banking establishment.
#59 The Federal Reserve was created by the big Wall Street
banks and for the benefit of the big Wall Street banks.
#60 In 1913, Congress was promised that if the Federal
Reserve Act was passed that it would eliminate the business cycle. <http://www.mindcontagion.org/fed/fedfacts.html>
#61 There has never been a true comprehensive audit of the
Federal Reserve since it was created back in 1913.<http://theeconomiccollapseblog.com/archives/the-audit-the-fed-bill-gets-passed-by-the-house-but-obama-and-the-democrats-are-going-to-kill-it>
#62 The Federal Reserve system has been described as "the
biggest Ponzi scheme in the history of the world".<http://theeconomiccollapseblog.com/archives/the-biggest-ponzi-scheme-in-the-history-of-the-world>
#63 The following comes directly from the Fed's official mission
statement: "To provide the nation with a safer, more flexible, and more
stable monetary and financial system."
Without a doubt, the Federal Reserve has failed in those tasks
dramatically. <http://www.federalreserve.gov/aboutthefed/mission.htm>
#64 The Fed decides what the target rate of inflation should
be, what the target rate of unemployment should be and what the size of the
money supply is going to be. This is
quite similar to the "central planning" that goes on in communist
nations, but very few people in our government seem upset by this.
<http://theeconomiccollapseblog.com/archives/how-is-the-central-economic-planning-that-the-federal-reserve-does-different-from-the-central-economic-planning-that-communist-china-does>
#65 A couple of years ago, Federal Reserve officials walked
into one bank in Oklahoma and demanded that they take down all the Bible verses
and all the Christmas buttons that the bank had been displaying.
<http://theeconomiccollapseblog.com/archives/the-federal-reserve-bans-a-local-oklahoma-bank-from-displaying-crosses-bible-verses-and-christmas-buttons>
#66 The Federal Reserve has taken some other very
frightening steps in recent years. For
example, back in 2011 the Federal Reserve announced plans to identify "key
bloggers" and to monitor "billions of conversations" about the
Fed on Facebook, Twitter, forums and blogs.
Someone at the Fed will almost certainly end up reading this article.
<http://www.scribd.com/doc/66281284/Frbny-Social-Media-Rfp>
#67 Thanks to this endless debt spiral that we are trapped
in, a massive amount of money is transferred out of our pockets and into the
pockets of the ultra-wealthy each year. Incredibly, the U.S. government spent
more than 415 billion dollars just on interest on the national debt in 2013. <http://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm>
#68 In September, the average rate of interest on the
government's marketable debt was 1.981 percent.<http://cnsnews.com/news/article/terence-p jeffrey/roll-over-plan-treasury-needed-pay-record-75t-maturing-debt-fy-2013>
In January 2000, the average rate of interest on the
government's marketable debt was 6.620 percent.
<http://cnsnews.com/news/article/terence-p-jeffrey/roll-over-plan-treasury-needed-pay-record-75t-maturing-debt-fy-2013>
If we got back to that level today, we would be paying more
than a trillion dollars a year just in interest on the national debt and it
would collapse our entire financial system.
#69 The American people are being killed by compound
interest but most of them don't even understand what it is.
<http://money.usnews.com/money/blogs/my-money/2010/09/23/compound-interest-best-friend-or-worst-enemy>
Albert Einstein once made the following statement about
compound interest..."Compound interest is the eighth wonder of the world.
He who understands it, earns it. he who doesn't. pays it."
#70 Most Americans have absolutely no idea where money comes
from. The truth is that the Federal
Reserve just creates it out of thin air.
The following is how I have previously described how money is normally
created by the Fed in our system...
<http://theeconomiccollapseblog.com/archives/where-does-money-come-from-the-giant-federal-reserve-scam-that-most-americans-do-not-understand>
When the U.S. government decides that it wants to spend
another billion dollars that it does not have, it does not print up a billion
dollars. Rather, the U.S. government creates a bunch of U.S. Treasury bonds
(debt) and takes them over to the Federal Reserve. The Federal Reserve creates
a billion dollars out of thin air and exchanges them for the U.S. Treasury
bonds.
#71 What does the Federal Reserve do with those U.S.
Treasury bonds? They end up getting
auctioned off to the highest bidder. But
this entire process actually creates more debt than it does money...
<http://theeconomiccollapseblog.com/archives/11-reasons-why-the-federal-reserve-should-be-abolished>
The U.S. Treasury bonds that the Federal Reserve receives in
exchange for the money it has created out of nothing are auctioned off through
the Federal Reserve system. But
wait. There is a problem. Because the U.S. government must pay interest on the
Treasury bonds, the amount of debt that has been created by this transaction is
greater than the amount of money that has been created.
So where will the U.S. government get the money to pay that
debt? Well, the theory is that we can
get money to circulate through the economy really, really fast and tax it at a
high enough rate that the government will be able to collect enough taxes to
pay the debt. But that never actually happens, does it?
And the creators of the Federal Reserve understood this as
well. They understood that the U.S. government would not have enough money to
both run the government and service the national debt. They knew that the U.S. government would have
to keep borrowing even more money in an attempt to keep up with the game.
#72 Of course the U.S. government could actually create
money and spend it directly into the economy without the Federal Reserve being
involved at all. But then we wouldn't be 17 trillion dollars in debt and that
wouldn't serve the interests of the bankers at all.
#73 The following is what Thomas Edison once had to say
about our absolutely insane debt-based financial system... That is to say,
under the old way any time we wish to add to the national wealth we are
compelled to add to the national debt.
<http://publicbankinginstitute.org/thomas-edison-article>
Now, that is what Henry Ford wants to prevent. He thinks it
is stupid, and so do I, that for the loan of $30,000,000 of their own money the
people of the United States should be compelled to pay $66,000,000 - that is
what it amounts to, with interest. People who will not turn a shovelful of dirt
nor contribute a pound of material will collect more money from the United States
than will the people who supply the material and do the work. That is the
terrible thing about interest. In all our great bond issues the interest is
always greater than the principal. All of the great public works cost more than
twice the actual cost, on that account. Under the present system of doing
business we simply add 120 to 150 per cent, to the stated cost.
But here is the point: If our nation can issue a dollar
bond, it can issue a dollar bill. The element that makes the bond good makes
the bill good.
#74 The United States now has the largest national debt in
the history of the world, and we are stealing more than 100 million dollars
from our children and our grandchildren every single hour of every single day
in a desperate attempt to keep the debt spiral going.<http://theeconomiccollapseblog.com/archives/tag/national-debt>
#75 Thomas Jefferson once stated that if he could add just
one more amendment to the U.S. Constitution it would be a ban on all government
borrowing....
I wish it were possible to obtain a single amendment to our
Constitution. I would be willing to depend on that alone for the reduction of
the administration of our government to the genuine principles of its Constitution;
I mean an additional article, taking from the federal government the power of
borrowing. <http://en.wikiquote.org/wiki/Thomas_Jefferson>
#76 At this moment, the U.S. national debt is sitting at
$17,251,528,475,994.19. If we had followed the advice of Thomas Jefferson, it
would be sitting at zero. <http://www.treasurydirect.gov/NP/debt/current>
#77 When the Federal Reserve was first established, the U.S.
national debt was sitting at about 2.9 billion dollars. On average, we have been adding more than
that to the national debt every single day since Obama has been in the White House. <http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo3.htm>
#78 We are on pace to accumulate more new debt under the 8 years
of the Obama administration than we did under all of the other presidents in
all of U.S. history combined.
#79 If all of the new debt that has been accumulated since
John Boehner became Speaker of the House had been given directly to the
American people instead, every household in America would have been able to buy
a new truck.
<http://www.cnsnews.com/news/article/terence-p-jeffrey/under-boehner-debt-3t-under-3-yrs-enough-buy-every-household-3-yrs>
#80 Between 2008 and 2012, U.S. government debt grew by 60.7
percent, but U.S. GDP only grew by a total of about 8.5 Percent during that
entire time period.
<http://www.zerohedge.com/news/2013-10-17/chinas-dagong-downgrades-us>
#81 Since 2007, the U.S. debt to GDP ratio has increased
from 66.6 percent to 101.6 percent. <http://www.tradingeconomics.com/>
#82 According to the U.S. Treasury, foreigners hold
approximately 5.6 trillion dollars of our debt.<http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt>
#83 The amount of U.S. government debt held by foreigners is
about 5 times larger than it was just a decade ago. <http://research.stlouisfed.org/fred2/series/FDHBFIN>
#84 As I have written about previously, if the U.S. national
debt was reduced to a stack of one dollar bills it would circle the earth at
the equator 45 times.
<http://theeconomiccollapseblog.com/archives/the-important-things-we-dont-have-money-for-and-the-crazy-things-we-do-have-money-for>
<http://cnsnews.com/mrctv-blog/gregory-gwyn-williams-jr/national-debt-stacked-dollar-bills-would-stretch-earth-moon-five>
#85 If Bill Gates gave every single penny of his entire
fortune to the U.S. government, it would only cover the U.S. budget deficit for
15 days.
<http://www.dailymail.co.uk/news/article-1390090/One-giant-debt-mankind-U-S-national-deficit-reach-moon-piled-high-5-bills.html>
#86 Sometimes we forget just how much money a trillion
dollars is. If you were alive when Jesus
Christ was born and you spent one million dollars every single day since that
point, you still would not have spent one trillion dollars by now.
#87 If right this moment you went out and started spending
one dollar every single second, it would take you more
than 31,000 years to spend one trillion dollars.
<http://defeatthedebt.com/>
#88 In addition to all of our debt, the U.S. government has
also accumulated more than 200 trillion dollars in unfunded liabilities. So where in the world will all of that money
come from?
<http://www.bloomberg.com/news/2012-08-08/blink-u-s-debt-just-grew-by-11-trillion.html>
#89 The greatest damage that quantitative easing has been
causing to our economy is the fact that it is destroying worldwide faith in the
U.S. dollar and in U.S. debt. If the
rest of the world stops using our dollars and stops buying our debt, we are
going to be in a massive amount of trouble. <http://theeconomiccollapseblog.com/archives/the-taper-is-on-8-ways-that-this-is-going-to-affect-you-and-your-family>
#90 Over the past several years, the Federal Reserve has
been monetizing a staggering amount of U.S. government debt even though Ben Bernanke once promised that
he would never do this.
<http://theeconomiccollapseblog.com/archives/the-federal-reserve-is-monetizing-a-staggering-amount-of-u-s-government-debt>
#91 China recently announced that they are going to quit
stockpiling more U.S. dollars. If the
Federal Reserve was not recklessly printing money, this would probably not have
happened.
<http://theeconomiccollapseblog.com/archives/china-announces-that-it-is-going-to-stop-stockpiling-u-s-dollars>
#92 Most Americans have no idea that one of our most famous
presidents was absolutely obsessed with getting rid of central banking in the United
States. The following is a February 1834
quote by President Andrew Jackson about the evils of central banking. <http://en.wikiquote.org/wiki/Andrew_Jackson>
I too have been a close observer of the doings of the Bank
of the United States. I have had men watching you for a long time, and am
convinced that you have used the funds of the bank to speculate in the
breadstuffs of the country. When you won, you divided the profits amongst you,
and when you lost, you charged it to the Bank. You tell me that if I take the
deposits from the Bank and annul its charter I shall ruin ten thousand
families. That may be true, gentlemen, but that is your sin! Should I let you
go on, you will ruin fifty thousand families, and that would be my sin! You are
a den of vipers and thieves. I have determined to rout you out and, by the
Eternal, (bringing his fist down on the table) I will rout you out.
#93 There are plenty of possible alternative financial
systems, but at this point all 187 nations that belong to the IMF have a
central bank. Are we supposed to believe
that this is just some sort of a bizarre coincidence?
<http://www.bloomberg.com/news/2012-02-15/the-secret-meeting-that-launched-the-federal-reserve-echoes.html>
#94 The capstone of the global central banking system is an
organization known as the Bank for International Settlements. The following is how I described this
organization in a previous article...
<http://theeconomiccollapseblog.com/archives/who-controls-the-money-an-unelected-unaccountable-central-bank-of-the-world-secretly-does>
An immensely powerful international organization that most
people have never even heard of secretly controls the money supply of the
entire globe. It is called the Bank for International Settlements, and it is
the central bank of central banks. It is
located in Basel, Switzerland, but it also has branches in Hong Kong and Mexico
City. It is essentially an unelected,
unaccountable central bank of the world that has complete immunity from
taxation and from national laws. Even
Wikipedia admits that " it is not accountable to any single national
government." <http://en.wikipedia.org/wiki/Bank_for_International_Settlements>
The Bank for International Settlements was used to launder
money for the Nazis during World War II, but these days the main purpose of the
BIS is to guide and direct the centrally-planned global financial system. Today, 58 global central banks belong to the
BIS, and it has far more power over how the U.S. economy (or any other economy
for that matter) will perform over the course of the next year than any
politician does. Every two months, the
central bankers of the world gather in Basel for another "Global Economy
Meeting". During those meetings,
decisions are made which affect every man, woman and child on the planet, and
yet none of us have any say in what goes on.
The Bank for
International Settlements is an organization that was
founded by the global elite and it operates for the benefit of the global
elite, and it is intended to be one of the key cornerstones of the emerging one
world economic system.
#95 The borrower is the servant of the lender, and the
Federal Reserve has turned all of us into debt slaves.
#96 Debt is a form of social control, and the global elite
use all of this debt to dominate all the rest of us. 40 years ago, the total amount of debt in our
system (all government debt, all business debt, all consumer debt, etc.) was
sitting at about 2 trillion dollars.
Today, the grand total exceeds 56 trillion dollars.
#97 Unless something dramatic is done, our children and our
grandchildren will be debt slaves for their entire lives as they service our
debts and pay for our mistakes.
#98 Now that you know this information, you are responsible
for doing something about it.
#99 Congress has the power to shut down the Federal Reserve
any time that they would like. But right
now most of our politicians fully endorse the current system, and nothing is
ever going to happen until the American people start demanding change.
#100 The design of the Federal Reserve system was flawed
from the very beginning. If something is
not done very rapidly, it is inevitable that our entire financial system is
going to suffer an absolutely nightmarish collapse.
The truth is that we do not have to have a Federal
Reserve. The greatest period of economic
growth in U.S. history was when we did not have a central bank. If we are ever going to turn this nation
around economically, we are going to have to get rid of this debt-based
financial system that is centered around the Federal Reserve. On the path that we are on now, there is no
hope. Please share this article with as
many people as you can. It is imperative
that we try to wake the American people up while we still have time.
Source: http://theeconomiccollapseblog.com/archives/on-the-100th-anniversary-of-the-federal-reserve-here-are-100-reasons-to-shut-it-down-forever
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