Control the money,
Control the government,
Control the media,
Control the people.
Ron Paul's Convention Speech
Generally speaking, it has been the over-expenditure of government in the failings of Congress, the corruption of the onetime National Bank, and world forces (both economical and physical) that caused politicians and President Wilson to accept and found the Federal Reserve, giving it control of the money and Banks.
When this unconstitutional act, promoted to Wilson by Mandell House, was passed in 1913, it was objected to by some as being a "destroyer of the Constitution" - and in many ways it has been.
Just before this matter was acted upon, the 16th Amendment was passed, then the 17th Amendment- which focused more power to the Federal Government by providing for Senators to be elected rather than appointed by their State Legislatures - and then Congressional approval of the Accrual Bookkeeping method.
The gold standard was over, and gradually gold was taken out of the hands of citizens as coinage. I suppose suspenders were too weak back then to hold one's pants up, was the political reason. Actually, the reason was much more subversive.
But this was a business deal to control a nation of greedy politicians who, as we witness today, do not really understand the purpose of money, or thrift; and when the door to the bank is left open it becomes too easy to walk in and scoop up what you want and throw it around.
Lincoln suggested that the government should just print the money to pay the Civil War debt. He was killed. Kennedy suggested the same. He was also killed.
Technology has advanced to the point where every bill is registered (which is one of the FED's products) and money is used as a commodity in trade; and for corruption as well. Now what we call money is mainly plastic cards and book digits, or promissory notes called cheques.
The paper money we use is no longer called a silver certificate, or a United States Dollar, but a Federal Reserve Note. What we use as currency now is a note supported by commodity prices and market manipulations, making it essential that the amount of notes available must be carefully controlled in order to have the price of money where the FED wants it to be as traded against other major currencies on the financial markets; and as well, to be able to control the general economy of Americans.
We now find ourselves in a quandary: the FED and its banks must stay afloat, and make their profit as permitted by convoluted government regulations established by many politicians who really have no understanding of economy - and must as well deal with government's over-expenditure versus the social economy to maintain a level of reasonable social conditions (and all of this included with numerous global economical involvement of all kinds). In addition to the banking system, the FED must return a profit to its owners to remain in business. The Federal Government has an open credit (debt) account apparently to have the FED lend for its appropriations; of course, indebting the people continuously and forever; in other words, our whole economy, due to the establishment of the FED and careless politicians, is a debt economy (not a credit economy which sounds better) made to look prosperous through accrual bookkeeping entries. Were we to operate our books according to a cash system, we, literally, would all be broke because this system has entered into every facet of our lives making everything look prosperous while actually setting up a whole economy based upon debt. If this were to shift suddenly, the crash would be heard throughout the Universe!
The FED is a private, not a government, entity; while under contract with the government to act according to its regulations. Auditing the FED would serve two purposes: (1) it would expose actions that the Congress and the people would find very upsetting and reveal much of the secrecy of its operations, and; (2) it would enable Congress to make regulations that would both enable the FED to make its profit - if indeed there should be one - and would also more adequately place the FED in a position of serving the people rather than its own contrived system. But this should be approached as a positive action, with the ideal of improving matters for the sake of the people, and not for the sake of destruction or deliverance of more powers to the FED. This can be handled only by frank and truthful consultation.
Controls? Yes, in the immediate there must be batter controls. But we must also look to the future of the development of basic unities throughout the world; and this will fall first upon the backs of the now major leading nations of earth. Eventually, there will be one currency backed by gold and silver. As world peace gradually develops, one universal currency valuation will exist worldwide. The valuation along with its backing will be forever "fixed", and this valuation will no longer be manipulated. All countries on earth will possess the ability to develop, not only their own economy, but also their resources; and it is through this unity of nations, the economy, of religion, etc., that world peace shall be established. Such an economy will greatly reduce unemployment, greatly expand the ideal of independent business, and place the economy itself more firmly in the hands of the people. The economy will no longer be utilized by factions to exert unjust force upon nations or people. The development of technology and the evolution of society in general will make this possible. No nation under such a plan shall relinquish its sovereignty or its sovereign law; however, all nations will agree to basic legal principles and a mutually agreed upon universal law and tribunal in order that world unity may be retained. One can see the many barriers we currently deal with on a worldwide basis, and how many of such barriers must be brought down willfully to achieve such a stupendous goal as world peace; but it will happen, either by mankind's own will or out of pure necessity - a necessity which we now see looming upon our horizon. The unity of religion and an end to religious prejudice is the first step.
Guy E. Shannon
Did you just write that up on the spot? I had to read it twice.