RT @PeterSchiff: Fed Chairman Powell admitted that a day of reckoning is coming for the U.S. due to the national debt, but believes that da…
The Federal Reserve ( & ECB)
THE FEDERAL RESERVE SYSTEM & CENTRAL BANKS, THE GREATEST ROBBERY IN AMERICAN/WESTERN HISTORY.
The Federal Reserve System (and Central Banks) was created following the panics of 1903 and 1907 to counterbalance the negative impact of fractional reserve banking. One hundred years after its creation, the Fed can only be given a failing grade. Money is no longer a store of value, and the world has experienced two of its worst financial crises. Instead of a counterbalance, the central bank has fed and expanded the size of the beast. This was to be expected.
Fraud is only a crime in the private sector, for the Authorities and Banks, it's official policy!.
They make it understand "all" they do is in favor of the general public...for our security...haven't we heard this before!? Banks and the Fed are the GREATEST scams in history: they create money out of nothing and charge interest for it. Governments have put in place laws to legalize this. In return, they get money and don't have to increase taxes. (higher taxes kills votes, fewer expenditures also kill taxes...and the politicians can blame others for inflation and hyperinflation)
Anyone who understands "The Federal Reserve System," knows that this private bank was owned and created by Rockefeller, Rothschild, J.P. Morgan, and Wartburg.
The Federal Reserve Bank is not a publicly traded corporation and is therefore not required by the Securities and Exchange Commission to publish a list of its shareholders! It's impossible to currently research who owns our money system!
The U.S. taxpayers spend 1 trillion dollars a year in interest to the privately owned, for-profit banking cartel know as the "Federal Reserve."
The Federal Reserve…The worst legislative crime of the ages is perpetrated by this banking bill…The banks have been granted the special privilege of distributing the money, and they charge as much as they wish…This is the strangest, most dangerous advantage ever placed in the hands of a special privilege class by any Government that ever existed. The system is private...There should be no legal tender other than that issued by the government…People are the Government. Therefore the Government should, as the Constitution provides, regulate the value of money." (Congressional Record, 1913-12-22)
Many contend that the Federal Reserve Act is unconstitutional. Congressman Ron Paul, for example, argues that: "The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency.
The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy."
Note: the same applies to the ECB (European Central Bank) and other Central banks. The main difference is that the other central or reserve banks are state-owned.
Creating money out of thin air and charging interest on it, is nothing more than USURY, IMMORAL and such a system is due for failure.