Audio – Barney to Ben: Time for the Fed to come down from the pedestal

January 11, 2007

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The new chairman of the House Financial Services Committee says his panel plans to treat the Fed as an important institution ”composed entirely of human beings.” Democrat Barney Frank also says he wants to have a broader public debate about how the Fed’s decisions on benchmark interest rates affects U.S. jobs and wages. Frank made his remarks at the Reuters Regulation Summit.

2 comments

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Who/What is the FED realy?

Printing Silver Certificates put Kennedy at odds with the people who own the U.S. – that would be the Freemasons through their Federal Reserve Bank. That’s why he was assassinated. Lincoln printed “Greenbacks” – interest free money issued by the Treasury. He was assassinated too.

Silver Certificates looked like dollars, but were redeemable at face value for real silver. They were actually warehouse receipts. We used to have dollars that were redeemable in gold until FDR stole all the gold from US citizens in 1933.

We have no money today. Dollars are not dollars, but Federal Reserve Notes. They are not backed by gold or silver, but the full faith and credit of the United States. In other words, as long as you think it’s worth something, it’s still a viable currency. But they are debt notes. Why? Because the US has been bankrupt since 1933.

Prior to 1913, the Treasury printed money and put it into circulation at NO INTEREST. Then some real criminals in Congress passed the Federal Reserve Act, giving control of our money supply to a group of private (and mostly foreign) bankers. Since then the Treasury prints money, sells it to the Fed for the cost of printing and the Fed loans it back to the government at interest.

From 1913 to 1933, the US paid the Fed the interest in gold. That was the agreement. But dang, we ran out of gold in 1933 so FDR confiscated all privately held gold and gave that to the Fed.

When that was all used up, the US went bankrupt. The Fed now owns this entire country and everything you think you own has been pledged toward that debt.

If you think you own your home, think again. You may have a deed, but you don’t have the title. The government does. You may think you own your car, but you have a Certificate (evidence) of Title, but the government has the title.

When the national debt become untenable, the Fed will simply foreclose on the entire country and those who call themselves US citizens, will be serfs on the land their forefathers gave them.

If we dump the Fed, we can go back to the gold standard. There would be no more inflation/deflation, the dollar would be worth something and there would be no need for the IRS because there would be no need for an income tax. BTW, according to the Grace Commission, (1983) 100% of money collected from income taxes goes to pay the interest on the national debt ) the money the government owes the Fed). Not one penny of income tax pays for the day-to-day operations of the government.

Posted by Jack Michigan USA | Report as abusive

Abolish the FED

Printing Silver Certificates put Kennedy at odds with the people who own the U.S. – that would be the Freemasons through their Federal Reserve Bank. That’s why he was assassinated. Lincoln printed “Greenbacks” – interest free money issued by the Treasury. He was assassinated too.

Silver Certificates looked like dollars, but were redeemable at face value for real silver. They were actually warehouse receipts. We used to have dollars that were redeemable in gold until FDR stole all the gold from US citizens in 1933.

We have no money today. Dollars are not dollars, but Federal Reserve Notes. They are not backed by gold or silver, but the full faith and credit of the United States. In other words, as long as you think it’s worth something, it’s still a viable currency. But they are debt notes. Why? Because the US has been bankrupt since 1933.

Prior to 1913, the Treasury printed money and put it into circulation at NO INTEREST. Then some real criminals in Congress passed the Federal Reserve Act, giving control of our money supply to a group of private (and mostly foreign) bankers. Since then the Treasury prints money, sells it to the Fed for the cost of printing and the Fed loans it back to the government at interest.

From 1913 to 1933, the US paid the Fed the interest in gold. That was the agreement. But dang, we ran out of gold in 1933 so FDR confiscated all privately held gold and gave that to the Fed.

When that was all used up, the US went bankrupt. The Fed now owns this entire country and everything you think you own has been pledged toward that debt.

If you think you own your home, think again. You may have a deed, but you don’t have the title. The government does. You may think you own your car, but you have a Certificate (evidence) of Title, but the government has the title.

When the national debt become untenable, the Fed will simply foreclose on the entire country and those who call themselves US citizens, will be serfs on the land their forefathers gave them.

If we dump the Fed, we can go back to the gold standard. There would be no more inflation/deflation, the dollar would be worth something and there would be no need for the IRS because there would be no need for an income tax. BTW, according to the Grace Commission, (1983) 100% of money collected from income taxes goes to pay the interest on the national debt ) the money the government owes the Fed). Not one penny of income tax pays for the day-to-day operations of the government.

Posted by Jack Michigan USA | Report as abusive