Effect of Bank Nationalization On Free Marketry
Bret Cahill
propping up the "independent" Federal Reserve so all the chatter about
"bank nationalization" may merely be Congress, after a century of
abandoning it's powers under Art. I, Sec. 8, resuming control over
monetary policy.
If that's the case then the economy will flourish and nothing more
needs to be considered.
On the other hand, if "bank nationalization" has some other meaning
then it may or may not have a good or bad effect on a market economy.
I'm not yet opinionated on this matter.
Bret Cahill
Topaz
The money system we have today is called the debt-money
system. It is corrupt and needs to be replaced. The only way money
comes into existence today is when it is borrowed. There is no freely
existing money supply, but only borrowed money that needs to be paid
back to bankers with interest. If all the money that was owed to
bankers was ever paid back there would be no money left in circulation
and this would be a great depression. What makes matters even worse is
that when money is created only the principle of the loan is created.
The money needed to pay the interest is never created. For this reason
it is impossible to pay back the principle plus the interest on all of
the loans that make up our money supply. The extra amount of money
needed to pay the interest was never created and does not exist.
The United States government borrows money from the Federal
Reserve Bank. This bank is not federal but owned by private
stockholders. It is in the business section of the phone book, not the
government section. Other banks also create the money in our money
supply. They are allowed to loan out much more money then they
actually have. Thus they create new money. No one else is allowed to
create money, only bankers have this privilege. All of our money is
debt-money and it is all owed back to bankers, plus the interest.
In the U.S.A. money is created by the Bureau of Engraving and
Printing which is a unit of the treasury, but the orders to print come
from the Federal Reserve Banks. The money is created for and owned by
the banks. And the Federal Reserve Banks are not Federal, in spite of
the name. Privately owned commercial banks own the stock of the
Federal Reserve Banks. The Federal Reserve Banks give the newly
created money to the government in exchange for government bonds. To
simplify: The United States does not make its own money. Bankers
create the money and loan it to the United States with an interest
charge.
The book War Cycles Peace Cycles puts it this way:
"If there is only $10 in existence, and you lend it to someone
under the condition that he repay $11, and if he agrees to this, he
has agreed to the impossible."
The book The Struggle for World Power put it this way:
"The Bank of England... was the first payment institution which
was legally empowered to issue state-authorized paper currency and ,
therefore, the Government itself became its debtor. Thus the State not
only renounced its monopoly on monetary emission, but also agreed to
borrow the privately-created money from the bankers...Not only the
thing being done, but even the very name was a deliberate fraud and
deception to conceal the essence of the deed. To create money out of
nothing is to make valid and effective claim on all goods and services
for no return, which is fraud and theft, made worse by the
circumstances that the money is lent out at interest...it follows that
those who have the power to 'create' out of nothing all the money in
each country and the whole world and lend it as stated, have total
power over all states, parties, firms, radio, press, individuals and
so on. Therefore the power of Parliament in general, and especially
with regard to money, is non-existent, and all the true sovereignty is
in the hands of those private individuals who issue all money"
http://www.ihr.org/ http:// www.vanguardnewsnetwork.com/
Saggy
This is a misperception .... the Fed pays its stock holders, the
member banks, a fixed dividend (6% ?) and any profits beyond that are
given to the Treasury. Thus the Fed does not make money on the bonds
that it buys.
See... who owns the Fed ....
http://www.libertyunbound.com/archive/2004_10/woolsey-fed.html
DanB (Previously DB)
>
> http://www.libertyunbound.com/archive/2004_10/woolsey-fed.html
Twelve times the word conspiracy or conspirator, or some variation. On
the other hand, not one word of what money is and who really creates it.
Sort of a non sequitur link if you ask me.
Here is how it works...
http://lakeweb.com/money/MMM.pdf
Note the publisher and note that the banking system most certainly
creates money out of thin air and charges interest on that money.
Topaz
wrote:
>
>Bankers create the money and loan it to the United States with an
>interest
>charge.
>
>This is a misperception .... the Fed pays its stock holders, the
>member banks, a fixed dividend (6% ?) and any profits beyond that are
>given to the Treasury. Thus the Fed does not make money on the bonds
>that it buys.
>
>See... who owns the Fed ....
>
>http://www.libertyunbound.com/archive/2004_10/woolsey-fed.html
http://www.fdrs.org/fed.html
SUMMARY OF QUICK FACTS
1a. The Federal Reserve (FED) is a PRIVATELY OWNED, organization.
Unbelievable? Check the ENCYCLOPAEDIA BRITANNICA.
b. Below is the list of the owners of the 12 Central Banks:
· Rothschild Bank of London
· Rothschild Bank of Berlin
· Lazard Brothers of Paris
· Israel Moses Seif Banks of Italy
· Warburg Bank of Amsterdam
· Warburg Bank of Hamburg
· Lehman Brothers of New York
· Kuhn Loeb Bank of New York
· Goldman, Schs of New York
· Chase Manhattan Bank of New York
In all, there are about 300 VERY POWERFUL, partly foreign individuals
that owns the FED.
2. Although the FED is required to give back most of its PROFITS back
to the Treasury Dept., there is NO ORGANIZATION that has the power to
AUDIT the FED (not even the Congress or the IRS). This creates a HUGE
opportunity for "creative accounting" to hide the profit that ROBS the
US Tax Payers Hundreds of Billions of Dollars annually.
3. Every year, a few Congressmen introduced a legislation to AUDIT the
FED, and every year, the legislation is defeated. The owners of the
FED is the most powerful, invisible lobbying power there is.
4. The owners of the FED own the controlling interests in ALL major
media in the US. Rockefeller, through Chase Manhattan bank, controls
CBS and ABC and 28 other broadcasting firms. Each of the other owners
of the FED also have controlling interest in the US media. This
explains why the media have been silent about the FED scam. The FED
fraud is the biggest and longest cover-up in the US today.
5. According to Article 1, Section 8 of the Constitution, the US
Congress has the power to print money (The Congress shall have the
power...to coin money, regulate the value thereof, and of foreign
coin, ...). According to the Supreme Court, the Congress cannot
transfer its power to other organizations like the FED.
The US government runs a $400 billion deficit annually. To cover this,
the US government issues bonds which are bought by the FED.
Since the FED has the POWER TO PRINT MONEY, it can buy any amount of
the US Government bonds at almost NO COST, save for the expense of
printing money (~3 cents/$100).
At this point, the owners of the FED already profit $99.97 for every
3c they invest to print the money. Basically, they exchange something
that costs almost nothing to them with the US Government Bonds.
Since the FED CANNOT be AUDITED by the IRS (or even by Congress), most
of this profit can go anywhere the FED owners want it to. BTW, did I
mention that the profit is TAX-FREE?
After buying the bonds, the owners of the FED can either:
1. Keep the bonds, and collect the interest the US Government now OWES
them.
2. Sell the bonds to the US Tax Payers or foreigners.
In either case, the FED owners have profitted $99.97 for every 3 cents
they invested to print the money. Remember, the FED is a PRIVATELY
OWNED corporation, just like Federal Express. The profit of the FED
goes to the FED owners.
The US Government now owes the FED owners the interest on those bonds.
Remember that the FED owners DO NOT EARN the bonds. They simply PRINT
the money to buy the bonds. In other words, they created money out of
thin air, and exchanged it for the interest bearing bonds.
In order to pay for the bonds' interest, the US Government taxes the
US population.
When a US Citizen holding US Government bonds receives his/her return
of investment on the bonds, essentially the money he/she receives is
the tax money he/she is paying to the Government.
When the OWNERS of the FED receive the interest on the BONDS they're
holding, they are receiving that money for FREE (save the initial
3cent/$100 investment to print the money)! Not only that, the FED
owners receive the money TAX FREE.
Under the LAW, the FED is REQUIRED to RETURN its PROFIT back to the US
Treasury. However, NEITHER the Congress NOR the IRS have the POWER to
AUDIT the FED. The FED has used this obvious loophole to profit via
'creative accounting'.
Consider this: every year, the FED profits by hundreds of billions of
dollars by buying US Government Bonds. Yet it only returns ~$20
billion to the US Treasury. The rest of the profit has been spent as
"Operational Expenses".
The FED expects us to believe that the FED operational expenses amount
to $100's billion dollars annually!!!
The truth is, those profits were spent as "DIVIDENDS TO
SHAREHOLDERS"!!!!
Year after year, the FED owners bleed the US Tax Payer dry by hundreds
of billions of dollars. Keep this going, and the US will go bankrupt
in a few more years. Small wonder why the National Debt is increasing
at its current rate.