Only One Solution to the Fed Debt Trap
by Rand Clifford
The Oxford Dictionary of Proverbs lists the oldest written version of the saying “what you don’t know can’t hurt you” as coming from playwright George Pettie’s Petit Palace in 1576:
“So long as I know it not, it hurteth me not.”
The Fed gained control of America’s money in 1913. Government debt now soars toward $17 trillion. Interest paid to service this debt, for the year 2011 alone, was $454,393,280,417.03, largely funneled by the Fed to eight international banking families:
Rothschild’s of London and Berlin; Lazard Brothers of Paris; Israel Moses Seaf of Italy; Kuhn, Loeb & Co. of Germany and New York; Warburg & Company of Hamburg, Germany; Lehman Brothers of New York; Goldman, Sachs of New York; Rockefeller Brothers of New York.
Only One Solution to the Fed Debt Trap
Ever heard a better argument for entitlement reform?
Rothschild wealth alone is estimated at $500 trillion.
Keeping the America public ignorant of why debt crises and threatened government shutdowns are a semi-automatic ruse aimed at social programs; reinforcing that cherished ignorance is a vital function of mainstream corporate media (MSM). Prevailing “see no evil, hear no evil, speak no evil” public attitudes toward the Fed are boosted by the trouble decent people have even imagining such an epic crime…there must be a law! Then, there’s faith…I really want to believe the Fed is part of the federal government.
No matter how many times former Fed Chairman Alan Greenspan and others remind us that the Fed is an untouchable independent agency, people like to believe what they want to believe, regardless.
An image problem with our country’s first two Rothschild-controlled central banks was transparency of the name, “U.S. Central bank”, or “BUS” (Bank of the United States).
Our current “Federal Reserve System”…now there’s a name with enough mojo to span a century, and even juice Congress into re-chartering the Fed for another 100 years (to 2113). MSM went totally mild.
In terms of persona, the Fed is Bela Lugosi. Spooky, deadly-secretive, omniscient, riveting…the Fed sounds like part of the federal government, sounds backed with reserves…a “system” instead of a bank—all a fiendishly-charming triple play. When the Fed walks into the room, heads turn. When the Fed controls a superpower’s money, heads roll.
Dollars From Thin Air
A dominant way to bank dollars from thin air is the Federal Reserve System’s entitlement.
For instance, to circulate another billion dollars of fiat currency, our government does not print debt-free U.S. Treasury Notes, as mandated in the Constitution. Instead, a billion dollars of debt (Treasury bonds) are given to the Fed, who then creates from nothing a billion dollars in Federal Reserve Notes and loans them to the government at compound interest. Whether it’s currency, or digits on a computer screen, by creating money this way, the amount of debt created is always more than the dollars created, leaving no way for the debt to ever be paid off.
Entitlements are one thing; the Fed’s exclusive dollar monopoly seems otherworldly. Could there be a greater entitlement than ownership of the dollar with accountability to no one?
By auctioning its (free) Treasury bonds through “Open Market Operations”, the Fed helps spread U.S. debt around the world.
1913 was a brutal year for U.S. public interest. The Federal Reserve Act, and the 16th Amendment (federal income tax) both began transferring wealth from the public to the elite in 1913. So much money is needed to finance government debt created by private central banking, a personal income tax is demanded.
When you write a check to the IRS…notice the endorsement on the payment coupon: “Pay any F.R.B. Branch or Gen. Depository for credit U.S. Treas. This is in payment of US. oblig.”
In other words, Pay the Fed.
Fractional Reserve Banking is another magical mystery machine for creating money from nothing, or as George Bush I blabbed:
“…the continuous consolidation of wealth and power into higher, tighter and righter hands.”
Bush I was talking about the reason for Iran-Contra, but wealth consolidation is…….