2 votes

Should the Federal Reserve be Nationalized and Fractional Reserve Banking Ended?

According to British economist James Robertson and prolific American author Ellen Brown, the main problems facing the US could be solved if our government would just take over the Federal Reserve Bank, and start printing its own government-issued currency, just as the Constitution authorized it to do in the late 18th century. It should then spend that money into the economy by the trillions -- almost exclusively on the building of infrastructure. And not just physical infrastructure. But also the social kind -- as in free education, at the university level, for all qualified students willing and able to study the subjects that would prepare them to be the kind of qualified workers the then-burgeoning job market would badly need. And what kind of subjects would those be? Probably various kinds of engineering and science, for the most part.

Plus, no more fractional reserve banking: banks must gradually be forced lend out no more money than they actually have. Private banks would have to compete with each other to get money from the federal government which would now own and control the Fed. As for private banks, lending out additional money which they didn't have (another way to describe fractional reserve banking), would now be considered a form of counterfeiting.

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Actually, the Fed should be abolished, its officers...

should be tried, convicted and executed for debasing the currency (a capital offense under the Coinage Act of 1792), fractional reserve banking should be outlawed and the US government should threaten a nuclear strike on any Central Bank or entity that attempts undo this. Oh, and all elected officials and members of the media who have defended the Fed over at least the last four years should be tried as accessories.

Immediately!

.

Give us clear vision, that we may know where to stand and what to stand for - because unless we stand for something, we shall fall for anything.
~ Peter Marshall, US Senate Chaplain 1947

Nationalizing the fed

Nationalizing the fed (although it already is quasi-nationalized) would be akin to rearranging the deck chairs on the Titanic.

No. Government Should NOT Control Money Via Central Bank!!!

Again...

NO! The US Government (or ANY Government) was never intended, and should never, "control" the money supply!!!

The original Founders intended for the ONLY involvement of government with money, to be the user-funded COINING and MINTING of private property.

Money is private property!

True (asset) money (not debt certificates) made it easier than trading cows for lumber, or wheat for coal, etc., etc. via barter. BUT it is STILL PRIVATE PROPERTY!!!

Gold and silver coins were recognized as private property of US sovereign citizens (per Founders intention).

Coinage Act of 1792 spelled out US Government involvement - you would bring your property - gold or silver, and the US Government Mint would assay and coin it, to provide it with easy acceptance by citizens, for trade within America.

THAT'S IT!

Fractional-reserve banking? It's the biggest fraud in human history - "loaning" out 30 times real vault assets, in the form of debt...

It has, and continues to produce Global Feudalism - resulting in a very small percentage of super-wealthy global ELITES, who pay-off the "FEUDAL KNIGHTS" of Government, to control the overwhelming percentage of the populus SERFS.

Here's a quote:

Sir Josiah Stamp (President Bank of England / 2nd Richest Man in England) - "Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits."

The Federal Reserve ownership should be banned from control



1. Yes, Fractional Reserve Banking is a fraudulent system (legalized counterfeit) and should be banned. It distorts the money supply which creates price inflation.

2. I agree with Bill Still/Abraham Lincoln/Thomas Jefferson/John Kennedy/etc. that our United States Treasury should control our money supply of this Country and not private banksters (for-profit). The public U.S. Treasury should do this using debt-free money that is not "borrowed" and to which no profit is paid to anyone.

But this does not mean that the "Federal Reserve" should be Nationalized. These pigs (Central Bank Monopoly) currently own the Government (not the other way around), and they will never agree or cooperate with being under anyone's control. So, the Federal Reserve must be outlawed or abolished. Similarly, you can turn the CIA into some benevolent agency either. The people and the networks behind it are corrupt. So you have to take away their power, and take away their control.


Good Grief, Let's Get The Facts Straight!

The Vatican Bank owns The Bank of International Settlements, The Bank of International Settlements Owns The Bank of England, The Bank of England owns The IMF, the IMF is the DEPT. OF TREASURY (I have an account there), The IMF owns The Federal Reserve, The Federal Reserve owns U.S. Government Corporation.

So how exactly is U.S. Government Corporation supposed to take over The Bank that owns it?

Who exactly is going to "take over" the entire one world government's banking structure?
It is not an accident that The Bank of England owns the Federal Reserve through it's front company called IMF or DEPT OF TREASURY. This is about power and control.

Please explain the processes you will use to take over "The Bank" and Planetcorp.

There is no more United States of America (republic), there is no more "Treasury". The U.S. Government Corporation (a mere vendor to The United States of America) was foreclosed on and sold to the international banking cartel in 1913.

There is no government in America. This is a lawless land overrun by pirate banking cartels and communist redistributors (thieves).

No one is on your side to get rid of the Pirates or The Redistributors. Not even in the slightest, except Those Two named Paul.

Next problem. The author proposes replacing one communist State, Central Bank, and Centrally planned Redistribution of Wealth Scheme (theft scheme) with the exact same thing.

"Oh, everything will be wonderful if we just take over administration of the commune". Yeah, right!
No, it won't be!
The problem is communism.
You have to get rid of the communist redistribution system including the central bank and unemploy the Nanny State "so called Law enforcers".

Printing currency and passing it out to "students" or your other facebook friends is theft, period.
Get a job, pay for your own school.

You are a commie pig!
I puque on you, you red scum!

I want to shut down the Federal Reserve and end Communist redistribution by counterfeiting.
I want private property, real non counterfeitable money, real title to land, a real lawful government that doesn't steal from me for the good of "the commune".
All the author is proposing is replacing the current Fed Chairman with himself as "Thief in Chief".
Screw that!
Go throw yourself in the ocean you Pirate.

The Oracle

We need our own "Jesuits" to take on the Vatican's Jesuits.

Should be interesting.

I'm of a belief that this will lead to more spending

A government entitled to create money out of thin air is little better than a central bank doing the same thing, minus the interest.

But with interest at an historic low, it is a minor consideration. More important is how much money is being printed. Who does the printing is secondary.

I'm all with the idea of making Fractional Reserve banking illegal.

I'd have to do some more study, but if the government took over the money creation function, it is possible would could avoid credit crackup crash. However, the price might be hyperinflation.

I just don't see a way out of the current mess short of default.

Difference


The difference is that private profiteers (Central Bank) controlling the money supply has no loyalty to the Country or its Economy. In fact, it can totally wreck the Economy by design, and also dictate policies aimed at International affairs for their own private benefit (control of World Resources). They also charge debt to American citizens because when they create money they lend it to the Government. So it is a ponzi scheme designed to impoverish our Country and saddle it with massive debt.

But now if the government alone (without any Bank control) is in charge of the money supply, then the International Banker influence is removed from the equation, and also the debt is removed from the equation. No longer would money be borrowed (from Banks) into existence, instead it would just exist to supply the amount needed for exchanges, trade, and to pay our National Debt.

This would, as Abraham Lincoln said "save the taxpayers immense sums of money", and our money would be under Soveriegn control -- and not International control.

We could be debt free with such a system.

No! Use correct terminology....Not 'nationalized'

It should never be nationalized....it should be phased out.

The Federal Reserve must be brought under the US Treasury Department and phased out in stages....thus abolished.

When the Federal Reserve is under the US Treasury again, the Treasury will mint the currency and there will be open competition between the banks. The criminal Federal Reserve on the other hand, can continue to plead its case to the courts....the courts can finish off the Federal Reserve.

All those lawsuits, criminal indictments? We'll just have to force our Justice system to work one more time, to sort out the cancerous mess of the Fed as they phase it out.

Never ever allow the word "nationalized" to pop up....we don't want any further Greenback scams.