by Richard Enos, Collective Evolution:
The website endthefed.org introduces us to the Federal Reserve as follows:
The Federal Reserve, “the Fed”, is the central bank of the United States of America that was created in 1913 by Congress. It is a banking cartel that has a government-granted monopoly on the creation of money and credit. The Fed literally loans “money” (Federal Reserve Notes) into existence. Federal Reserve Notes are paper promises backed by nothing of intrinsic value and they are only functioning as money because the government forces them on the public through legal tender laws. Federal Reserve Notes are referred to as dollars but are not. The definition of a dollar is a weight of silver (371 grains). To put it simply, the Fed is a group of banks running a national counterfeiting operation with the protection of the government.
This characterization, it would seem, has been growing into the public awareness more and more since G. Edward Griffin’s ‘The Creature From Jekyll Island’ became widely known.
Since then, former congressman Ron Paul has talked about the need to abolish the Federal Reserve in public speeches and in his book ‘End the Fed.’ He characterizes the Federal Reserve as both corrupt and unconstitutional. So why hasn’t it happened?
What To Replace It With?
An article in Forbes entitled “Assuming We ‘End The Fed,’ What’s The Next Step?” makes the case that there is no point ending the Fed—which author Nathan Lewis actually says he wants—if we have nothing viable to replace it with.
Lewis takes a look back in history, saying that before the Federal Reserve, there were also problems. He says that a U.S. Treasury monopoly of currency had the same kinds of problems as the Federal Reserve, and argues for a limited number of currency issuers as opposed to a monopoly.
In my research of this article and others, much was spoken about inflation and other such variables for which people argue both in favour of and against the Federal Reserve. But I wonder if such mainstream articles serve as part of the controlled opposition, swaying people away from those questions that are most important?
To me, a logical question to ask is: “Why does the U.S. government need to pay interest to the Federal Reserve to have new currency put into circulation?” But in all my scraping and searching around the internet, I have not found a single, solitary answer from a proponent of the Federal Reserve System, not even a lame or bad answer.
The question is simply avoided. And for good reason, if the only possible conclusion I can come to is true: All of this interest goes into the hands of the hidden, private controllers of the Central Banking System. Can you even imagine the amount of money we are talking about? How is it possible that this continues to exist? Where is our outrage?
Observations Of A 12-Year Old Girl
In Canada, a young 12-year old girl named Victoria Grant observed that the Bank of Canada operates in much the same way as the Federal Reserve in that the government–meaning the public taxpayer–has to pay interest on all money put into circulation.
Allow me to explain how our private banks and government work today: first the Canadian government borrows money from the Private Banks. They then lend the debt based money to Canada, with compounded interest. The government then continues to increase taxation of Canadians, year after year, in order to pay back the interest on the exponentially growing national debt. What results is inflation, less real money for Canadians to spend into our economy, and the real money being used to pad the pockets of the banks.
The passage comes from the following must-watch video, where Victoria elucidates clearly and succinctly the problem we faced in Canada in 2012, reflective of ALL Central-Bank controlled nations: