The American Dream - Nov. 17 2010

There have been so many attacks on the Federal Reserve recently that the mainstream media now feels almost forced to try to defend their actions. The most blatant example of this recently was an article in the Washington Post entitled “Five Myths About The Federal Reserve“. The article was authored by Greg Ip, the U.S. economics editor of The Economist. According to Wikipedia, the Rothschild banking family is a partial owner of the firm that operates The Economist. You would have thought that they would have gotten someone a whole lot less obvious to produce this propaganda piece, but apparently they did not think anyone would notice. Of course an economics editor of The Economist is going to defend the Federal Reserve. He would be fired if he didn’t. The Economist is well known to be a mouthpiece for the international central banking establishment. But what is really sad is how poor a job Greg Ip did in defending the Fed. If these are the best intellectual arguments they can come up with then they are in huge trouble.

Below are the “five myths” that Greg Ip attempted to debunk in his article. I will tackle them one by one…..

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Old Reb

The Federal Reserve uses euphemistic smoke and mirrors to obscure their operations. With full knowledge the following is not the way the Fed/government describes the system, allow me to offer a different analysis of their mathematical operation.

Congress can pay for federal expenses with funds collected from taxes, but Congress is never satisfied with this amount. The desire to buy votes/campaign contributions from special interest groups induces congress-critters to spend more, and this is identified as deficit spending. To create this make-believe money requires the assistance of the Federal Reserve.

Congress will give the Fed a security (bill, bond, or note) and the Fed will accept the document as an asset of one of the twelve FR Banks. The Fed will then establish a line of credit for the U.S. government for the same amount and list the liability as Federal Reserve Notes. Presto !! Fiat money has just been created for Congress to spend. Ref: 2009 Annual Report to Congress by the Board of Governors, page 448. The accumulated securities that are not redeemed add up to the national debt.

The fiat money is identified as a legal tender. A “legal tender” is something that is required by law to be accepted as payment for a debt - it is compelled satisfaction for, but not payment of, the debt.

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Stewart Dougherty - Jan 22 2010

FOREWORD: At certain times, focusing on the big picture is important not just for investment success, but for personal welfare, and even survival. We believe such times are here. It is estimated that 98% of Americans have never held a gold coin in their hands. Yet 100% of Americans regularly handle Federal Reserve Notes. From a contrarian standpoint, the financial message from those two statistics is clear. Even so, gold is much more than money or an investment medium; it stands for liberty and throughout history has facilitated escape and ensured freedom. Never having touched a gold coin is the monetary equivalent to never having breathed fresh air, felt the warmth of sunshine, looked up at the stars or risen from the gutter. Fiat Federal Reserve Notes are becoming nothing more than sewage decomposing in the vast, toxic septic tank of predatory Washington politics, epic Federal Reserve arrogance and error, blatant Wall Street fraud and outright Master Class plunder. Below, we outline America’s troubling and compounding predicament, and urge you to think about how to protect yourself from its consequences, both financially and personally.

Thanks to the endless barrage of feel-good propaganda that daily assaults the American mind, best epitomized a few months ago by the “green shoots,” everything’s-coming-up-roses propaganda touted by Federal Reserve Chairman Bernanke, the citizens have no idea how disastrous the country’s fiscal, monetary and economic problems truly are. Nor do they perceive the rapidly increasing risk of a totalitarian nightmare descending upon the American Republic.

One stark and sobering way to frame the crisis is this: if the United States government were to nationalize (in other words, steal) every penny of private wealth accumulated by America’s citizens since the nation’s founding 235 years ago, the government would remain totally bankrupt.

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Infowars - October 19, 2008

Robert Marion LaFollette (1855-1925) delivered the following speech in the Senate on March 17, 1908, in response to Senate bill 3023 to amend the national banking laws.

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A Simple Glance at the Geo-Economic Structure

By: Jay Dyer

Last Friday I called in to the Alex Jones Show and spoke with Alex and Bob Chapman about the Group of 30.  The discussion was essentially as follows:  two semesters ago, the head of the economic department at my university gave a lecture on the EU economy and the Euro.  In fact, after a few prodding questions from myself, she related that the EU set-up was similar to our privately owned Federal Reserve system in the US.  I asked her why a system of privately owned banks is in charge of the issuance of currency, and, as most status quo partisans echo, she stated that it was for “economic stability.”

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Mike Adams - October 08, 2008

(NaturalNews) In 1942, German intelligence officers rounded up skilled Jewish prisoners and launched Operation Bernhardt, a clever scheme designed to counterfeit hundreds of millions of dollars worth of British Pounds and destroy the British economy by flooding it with counterfeit money. Located in the Sachsenhausen concentration camp, Operation Bernhardt was, even by modern standards, a runaway success that resulted in the creation of forged bank notes worth 132 million British Pounds.

This “economic warfare” operation resulted in a devastating economic effect on the British economy. You can read the true history of this operation here: http://en.wikipedia.org/wiki/Operation_…

It is important to note that Operation Bernhardt was an act of war, specifically pursued for the purpose of destroying Britain’s economy by creating so much new money that the value of the money already in circulation would plummet. This was considered a strategic attack, just as effective as carpet-bombing tank factories or mowing down soldiers on the field with German-made MG42 machine guns.

What does all this have to do with the Federal Reserve?

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Anthony M. Freed | September 22, 2008

Here is a a collection of today’s best in far-out and conspiratorial theories surrounding the financial nationalization and surrendering of our democracy.

If you like conspiracies, you’ll love this.  If you want only straight news, believe it or not, you’ll love this too.

Across the board, the sentiment is the same everywhere:  People are really ticked.  Even Wall Street has woke up and realized the problem is a lot bigger than anyone is ready to admit - except the authors of the following articles.

Imagine the scoffs and indignation just the mention of these items would elicit even six months ago.  Many good writers, analysts and others were chastised and even blackballed for committing any time or resources to such “nonsense.”

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