What Most Patriots Don’t Get About The Federal Reserve
Author: Eric WhoRU - http://groups.yahoo.com/group/whoru ewrbn@...I want to make it clear at the outset that I do not like the Federal Reserve, most especially I do not like the fact that the Federal Reserve is privately owned and purports to charge interest on the principal the Fed creates to monetize the future income of its customers, while at the same time the Fed provides no source from which its customers can obtain the additional Federal Reserve Notes they need to pay the interest surcharge on the Fed's issue, thus, as a privately owned entity, the Fed operates a closed end money system, which has an inherently impossible aspect, an ability to take a profit called interest, with FORECLOSURES being the Fed's only true source of "profit".
That being said - I contend that the Federal Reserve is the most important and most contributory factor in raising the standard of living of the populous of the United States. The issuance of paper money by the Federal Reserve has done more to facilitate the rise in the standard of living of the middle class than the invention of the wheel, while at the same time the private ownership thereof has enabled the Banksters to own almost everything, including the people themselves!!.
How do I reconcile these apparently contradicting postulations??
Easy, I did a personal study and evaluation of all of the adverse claims made against the Fed by its enemies and found that virtually none of the enemies of the Fed have any actual understanding as to how the Fed actually works in 2006-7-8-9 or whenever, going back at least 30 years and most probably, all the way back to 1913!!
What are the negative claims (myths) against the Fed (in no particularly significant order)??
1. The Fed creates money out of thin air - WRONG!!
2. The Fed makes an interest profit on the money it creates - WRONG!!
3. The paper money the Fed creates has no backing - WRONG!!
4. The Fed manipulates the circulating supply of money in order to intentionally cause recessions - WRONG!!
5. Federal Reserve Notes are evidence of debt - being nothing but worthless IOUs - WRONG!!
6. Debts cannot be paid with Federal Reserve Notes - only discharged - WRONG!!
7. The inflation inherent in the use of Federal Reserve Notes is a hidden tax - WRONG!!
8. The Fed just prints money and pumps it into circulation - WRONG!!
9. Federal Reserve Notes are nothing but FIAT money - WRONG!!
10. The Fed is privately owned - RIGHT!! Well, one out of ten being right is about par for most patriots - which is why I call them patri - idiots.
So what is the truth about all these Fed myths??
FALSE Myth # ONE -
The Fed creates money out of thin air.
It is certainly true that the Fed does create money - but out of this air - not hardly. The only time the Fed creates money is when a qualified borrower applies for a loan, then the Fed creates the principal to fund the loan. The principal is created based on the borrowers proven ability to repay the loan - this "proven ability" is called the borrowers credit rating. The basic fundamental purpose of money in the first place is to lubricate commerce - how better to lubricate commerce than to "kick start" it by monetizing the future income of the borrower??
The Fed is totally incapable of creating money, that is, to enable money to enter circulation without a qualified borrower making an application for an advance on his future production.
FALSE Myth # TWO -
The Fed makes an interest profit on the money it creates.
Although it is true that the Fed does purport to charge interest and it is also true that borrowers pay interest - it is a mathematical impossibility for this designation of interest to constitute a profit to the Fed.
The reason this is true is because the only way any Federal Reserve Notes can ever enter circulation is as the principal created by the Fed to fund borrowers' loans - that is - the maximum number of FRNs in circulation could never be more than the total created by the Fed to fund loans, so it therefore reasonably and logically follows, that the maximum number of FRNs that the Fed could ever receive back would be no more that the Fed created in the first place - as loan principal - so no matter what the borrowers nor the Fed might designate the payments to be - principal or interest - as far as the profit to the Fed is concerned it would be a mathematical and/or a physical impossibility for the Fed to take a profit called interest.
So then, how does the Fed take a profit?? Quite simple - through foreclosing on pledged assets.
FALSE Myth # THREE -
The paper money the Fed creates has no backing.
Although it is certainly true that there is no gold or silver backing that does not mean there is no backing for FRNs. Federal Reserve Notes are nothing but a piece of paper, with so much ink printed on both sides it is difficult to find room to write a phone number thereon - but never the less millions and millions of these paper notes are used every day by millions and millions of people to purchase every variety of commodity imaginable, with never a concern that the paper notes are worthless. The noted are backed by the promises of the borrowers, made at the time the loans were funded, to produce goods and services equal, not only to the principal borrowed, but also equal to the added interest charged on the loan principal. What better backing could be desired?? Even gold would not be a good - what does gold do?? Why is gold perceived to have value?? Is it not because humans are willing to produce goods and services equal to the perceived value of the gold?? So what is the actual difference between gold and paper??
Continuation of article at:
This post in a nutshell
Please find a link to a video DVD
http://video.google.com/videoplay?docid=2298046812080377528
and a rough draft Proposed 28th Amendment to eliminate taxation at all levels http://groups.yahoo.com/group/whoru/message/285
These two items set forth and explain the means whereby the Legislatures of the Fifty Sovereign States can take back control of the Federal Government by Federalizing the ownership and control of the central bank, the Federal Reserve System, and having all oversight thereof assigned to the Legislatures of the Fifty States.
In addition to the foregoing this Amendment will also reassign the war making authority away from the Federal Congress and assign this awesome power to the Legislatures of the Fifty Sovereign States.
In addition this Amendment removes the authority of the Federal Congress to borrow money on the good faith and credit of the United States - and forbids any level of government from borrowing money from any source what-so-ever (it does not stop bond issues in the States).
Under this plan all manner of taxation will be totally and forever eliminated under all four levels of government, which will thereafter be funded by interest collected on loans extended to private sector borrowers by the People's Central Bank.
The Legislature of each State will have authority to determine how
much money shall be credited to the Treasury of the United States - the Federal Congress shall have absolutely no oversight or other control or access to the People's Central Bank or the money system of the Federation.
The crediting of interest collected on loans to private sector
borrowers to the four levels of government will allow the collected
interest to be recycled back into the economy thereby stopping the boom and bust recession cycles we have been suffering under the private ownership of the Federal Reserve System.
Eric has a show weeknights on talkshoe at 9pm eastern Here is the link
http://www.talkshoe.com/tc/27767
One step at a time
This thread is about fixing the money system. It is just pointing out that unchecked borrowing and spending by congress that is the problem along with a privately owned money system that is constantly draining the circulating supply of money.
Tha solution is simple and in place already.
Eric has a show weeknights on talkshoe at 9pm eastern Here is the link
http://www.talkshoe.com/tc/27767
Final Truth plus an Action Plan
-- Let's stop the never ending re-articulation of the same 10 or so problems -- the applauding each other for creative-innovation in the impotent rage market -- hahaha.
Here's a shorter summary -- more accurate and easier to remember -- also, the power to alter the situation is with the individual; so it's an non-abdication of authority or responsibility model of decent (reversible); rather than coming up with an infinite multi-angled and multi-faceted re-articulation of the same fault bearers.
Power Tree (not necessarily dollar amount):
1st Rung - Wealthy Bankers and the Big Families
2nd Rung - Lobbyist and Senior Politicians
3rd Rung - Unionists and Corporatists and Big Charity
4th Rung - The un-Conscious Consumer and the un-Constitutional Voter
5th Rung - The "Junior" Politician (in potential - he's "3rd Rung")
Corporatist-Unionists-Charity (all) "buy" Lobbyist - Lobbyist "buy" Senior Politicians -- Senior Politicians: control the party "War Chest," Regulatory Power, and Special Committee Appointments (needed for bigger lobbying dollars) -- thusly, the Senior Controls the Juniors Vote.
How did it happen?
#1 We stopped carrying about buying local or knowing / caring about the morality of the owner/producer/supplier
#2 We bought product from corporations who sought Gov't Welfarism or ever used a Lobbyist
#3 We voted for senior senior politicians (beyond one-term) -- the first door that must be opened for "career politics"
#4 We joined Unions or We voted for Groupist Advantages
#5 We never developed a Voters Constitution or a Consumers Union -- both are simple #1 Never Vote for 2nd Term and #2 Never Daily-dollar-Vote for a Corporatist (or if there's no alternative buy from the "least" corporatist and list this as the reason and let them "feel" the warning in that).
#6 We sent our children to public school; we abdicated our duty to educate or educate privately (mentoring etc)
#7 We abdicated our authority and abandoned our devotion (to family, self, and morality)
Period!!!
*&^ Constitution --- Constitutional Rationality
Advocating collectivism.
The originator of this thread, ShillBuster, and his supporter, Anisha want the present monetary system with the exception that they want the federal government to be the legal owner of the federal reserve.
This is not different than the present federal reserve because, even though private banks are the nominal legal owner of the federal reserve bank, the earnings of the bank, after payment of operating expenses are in fact turned over to the US treasury.
The federal reserve is simply part of a money factory. It controls the monetary system, and through expansion of credit on its books it also facilitates expansion of credit on the books of local banks. And expansion of credit is how the public is fleeced, both by making money buy less, and also by collecting interest from the public on the loan of all this credit.
What ShillBuster and Anisha are proposing is virtually no change in the present fraudulent system of plunder and control. And the present system is the antihesis of a free market economy. This site is one where freedom is advocated, so why are they here advocating the opposite.
"The deepest sin against the human mind is to believe things without evidence." Thomas H. Huxley
Advocating collectivism??? Hardly
Henry, I posted Eric's article here for presentation as an actual solution that seems to be lacking among the get back to gold or competing currency crowd. I assume Anisha has been a member here for a while and probably had never heard of Eric before I posted here. Anisha obviously read the entire article and was able to understand the concept the first time through. It is rare but some have it and some it takes time.
I am an advocate for Eric's solution. I like what it stands for and it gives us as a society a chance for the first time in history to fund our gov. without pointing our guns at each other.
Lets face it, people are always going to borrow money on their future productivity. It is the way it has to be in this type of society. We aren't living on farms anymore. The solution that Eric has come up with will keep all that money (that is made out of thin air that is borrowed into circulation based on someone's future productivity) in the economy. It will recycle back through funding of all four levels of gov. That is how we would fund the gov. They would not be allowed to borrow on the credit of the people anymore. Doesn't that sound good? This has never been done before and for good reason. The people that own the fed and the world banks have great influence on the thinking of the common man. You can be assured these people didn't get to be the richest because they are dumb. As much as we would like to call them names, they are the ones holding all the wealth of the common man. Be assured they are leading us down the path they want us to go. As one great scholar wrote; don't be fooled by dupes who provide the illusion of opposition?
Now as far as what you said about Eric's article, shows you either didn't get past myth 3 or you just didn't understand what you read. He is proposing having a Peoples central bank that is controlled by the legislators of each of the 50 states. No level of gov. would be allowed to borrow money. The states would set the federal govs. budget and the county would set the states and the town's would set the county's.. Get it? This all would be funded by interest on loans to private sector borrowers which is already in place. No level of gov. would be allowed to borrow money I had to repeat that.
Now the interest that is paid from the principle that was loaned is used by gov. back into society always providing enough money for everyone to pay their principle back. You see there is only so much money created and if the interest gets siphoned off, and not recirculated back into society, that is when we have a shortage of money and that is what we call a bust cycle. IF we kept putting all that principle that is used to pay the interest back into circulation, then the shortage never happens and we have a well balanced economy.
I'm sure you still don't understand it but if you try, you will soon understand this is the most viable solution that is available to the common man.Remember how the fed came into being. All the bankers spoke against it so the common man thought it must be good without really doing their own homework and before we knew it, they adopted the fed as their new partners in crime. The fed would provide unlimited borrowing power to the same people that adopted the policy. The real thieves are at the capitol as well as the fed. The people are getting screwed because they can't figure these slick men out. They keep everyone looking in the wrong places.
No taxation (armed robbery), plus stopping the gov. from spending on the backs of the common mans credit will set us all free and that is what we are looking for.
Eric has a show weeknights on talkshoe at 9pm eastern Here is the link
http://www.talkshoe.com/tc/27767
Can we PLEASE drop this fallacy about the Fed?
As long as we're yelling at people for believing certain things about the Fed (most but not all of which are in fact true), let's put to rest once and for all the fallacy that says that since the Fed creates money to lend but doesn't create the additional money to pay the interest, there's no way to repay.
Here's the error in it: it assumes every dollar can be spent only once. Once you forget this absurd assumption, the fallacy disappears.
Suppose the Fed creates $50, lends it to me, and expects $55 in a year. Where, oh where, will I get the extra $5?
I'll make it harder on myself: let's assume this $50 is all the money in the whole economy.
Well, let's see. I spend $20 at a restaurant. The restaurant owner spends $10 of that paying employees and $10 on consumption goods for himself. His employees spend the $10 at a tanning salon. The stores he bought consumption goods from spend their $10 on food.
So far, my $20, after being further spent by other people, has made possible the exchange of $60 worth of goods and services. It is this same money that will make its way to paying my salary. That's how I'll pay the extra $5 with ease.
let's say I own all the chickens
and I loan you 3 eggs, and charge you interest of 1 egg. Where's that egg coming from?
Someone has to borrow it into circulation, and pay interest on it, and you have to acquire it, and pay it back to me.
Faulty logic.
There is only $50 in circulation in your example. All the transactions you mention occur with the same $50. At the end of the year there is only $50 in circulation. No matter how many times that $50 changes hands during the year, at the end of the year, there is still just $50 in circulation. So how is interest and principal of $55 paid?
"The deepest sin against the human mind is to believe things without evidence." Thomas H. Huxley
Since nobody has answered my question, I will answer it.
The bank can pay a dividend to its owner which puts more money in circulation without loaning it out. The $5 is still created out of thin air on the banks books, but it was not created in a loan transaction. The bank was able to pay the dividend because of the $5 profit it accrued on it books in anticipation of the interest it "earned".
Note that in all those transactions you showed where people traded, there were things of real value created, and effectively the bank owner can then claim $5 worth of the real things created, which is how wealth is transferred from the working public to the banker with his government granted privilege of creating new money out of thin air. The whole purpose of this fraud is to take the wealth of those who actually did work to create it.
"The deepest sin against the human mind is to believe things without evidence." Thomas H. Huxley
fed
sorry, i don't get it. isn't there still only $50 in the world? how does $60 worth of goods and service create the $5 in cash?
thanks
I pledge, do you?
Oh Really?
"I contend that the Federal Reserve is the most important and most contributory factor in raising the standard of living of the populous of the United States."
You're correct...just look at my 401k...oops...no, my pension...oops...well then there's my social security...uh oh! What about the equity in my home...oh no...well at least I still have a home...oops! Then what about my new car...gone! Well at least I still have a steady job...Poof...GONE! Oh well, then I'll just sell all of the valuables I've purchased with my higher standard of living over the years...anyone? How bout you MORON...you can use some of that extra wealth you've attained over the years due to your "higher standard of living" to help a poor lazy unemployed guy out...right?
WAKE UP AND LOOK AROUND YOU - YOU SENSELESS MORON - bet he went to Harvard or Yale! Come to think of it, isn't Ben Bernacke's DP handle "shillbuster"? Or is that Tim Geithner's?
"Whenever I despair, I remember that the way of truth and love has always won. There may be tyrants and murderers, and for a time, they may seem invincible, but in the end, they always fail. Think of it: always"
Gandhi
"Liberty tastes sweetest to those who fight for it, and most bitter to those who work to deny it!"
LearnRonPaul
Really.
"I contend that the Federal Reserve is the most important and most contributory factor in raising the standard of living of the populous of the United States."
I believe you are taking this dear man's statement 'out of context', LearnRonPaul.
I believe he means it most certainly can be the most important and most contributory factor in raising the standard of living of the populous of the U.S. once the charter that authorizes the license to print money were to legally become the property of 'the people' through the several sovereign States!
Calling someone a 'moron' only serves to reduce your own dignity.
According to the Communist Manifesto...
it only takes 3 things to control a population.
Control of the media.
Control of the military.
And control of the money supply.
We are well on our way folks. God bless Amerika!!!
Gee Shill...I can't argue with ya
You seem to have given this a lot of thought. I really have no idea what you are talking about...I just don't. It is probably my fault too.
Anyway, I have been studying the rulership of the planet for 40 some years...does this mean I know anything? No, it does not.
In fact, I have had to change my perception of this reality so many times...when I put my flag in the sand nowadays?...I assume I will be moving it again at some point.
I think the folks who own the fed and the folks who designed the fed now what the heck they are/were doing.
They were really "smart."
They had carefully defined goals.
They knew how to make it run right.
Sure enough the little darlings have pulled it off.
They slipped the charter in like thieves in the night, but what the f%$# all is fair in love and war right?
My issue is their agenda..ok, Shill?
I am not in agreement with the "plan."
They have been discussing it for almost a hundred years now and I still don't agree with it. Like the Doc says, our freedoms were given to us by our creator...that's all.
If it turns into an argumant about currency and stuff I guess that is Ok, but, I got friends who have died in wars, who were maimed in war and are in wars NOW.
These people are wrong. In the eyes of man and the eyes of God.
The folks that designed the fed have no interest in you or your children's well being.
I am glad they designed the system well, in that it helps them get what they want which, has nothing to do with what is right in this world.
The owners of the fed need to be before a judge. What they have done to take over this country's debt is wrong.
The folks in charge have been gaining control of countries for centuries by getting control of their debt. This control is achieved by the insertion of a central bank.
I mean we all know this right? We are just making a systemic discussion here and I am not an economist.
Unify
tstorey, you are right, we all know those private owners of
The Fed are wrong and what they did these past 100 years they will each have to face their maker with this blight on their souls. That frankly is in God's hands.
What is in OUR hands is an idea if we can ever implement this idea, that is being proposed by this amazing, thoughtful, gentleman, who goes by, Eric WhoRu.
I have been digging around in his proposal and I am frankly excited what I have found there.
I believe this man's idea is worthy of dissecting. It certainly makes a possible 'extension' to Dr. Paul's proposal to 'End the Fed'.
However, ending the Fed, could actually be turned into ENDING THE CLOSED ENDED BANKING SYSTEM!
This could be done through the mechanism of replacing the charter of the Federal Reserve Act of 1913, whose beneficiaries would be in effect, 'The People', instead of the private banksters who have channelled the 'energies' or, the results of true physical labors, by force, into their keeping to do with whatever they shall deem suits their selfish self interests.
Eric proposes that this mechanism be put into effect, NOT BY CONGRESS, but by each sovereign State voting it into place thus taking away the power of Congress to 'spend' money it does not have, and taking away the power from Congress to DECLARE WAR. The power to declare war would come from each State thus making it extremely difficult for soldiers to be deployed and killed/maimed and wreaking moral hazard upon themselves and others.
Once we have an 'OPEN ENDED BANKING SYSTEM' , loans/mortgages can still be made, but the interest goes directly into the coffers of the State government and its local levels, which keeps the government limited in spending. The books of the government shall be made transparent quarterly showing revenues(interest received) and disbursements paid out. This would be available online.
Taxation would end and so would the police state and the 'policing of the world'. Troops come home, bases are closed world-wide, and restructuring our country into what it was intended to be, A FREE NATION OF FREE PEOPLE!
Let's keep this simple
1. The Federal Reserve is a private central bank and is not authorized by the Constitution.
2. Federal Reserve Notes are not money and cannot be used by private individuals to pay debt.
Thus, the Federal Reserve is a state-sanctioned counterfeiter and a CRIMINAL organization.
1. The Internal Revenue Service has no jurisdiction outside of federal zones.
2. The Internal Revenue Service is a collection agency for the Federal Reserve.
3. The Internal Revenue Service commits felony fraud and extortion on a daily basis.
Thus, the Internal Revenue Service is a CRIMINAL organization.
Officials for both organizations should be apprehended, incarcerated and prosecuted to the full extent of the law.
BTW, since Roosevelt signed the amended War Powers Act, the Fed, IRS and Federal Government have been at war with the American people.
Thus, The Fed IRS and Federal Government consists of TRAITORS who should be apprehended, incarcerated and prosecuted to the full extent of the law, preferably by capital punishment.
Well, yeah, there's that. . .
________________________________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
Error Number One
As promised, I think these need to be addressed. Too many to go into at once, so I'll do one and when it's illuminated I'll move on to the next one in a couple of days, if the thread is still up.
Error Number One: "The Fed creates money out of thin air - WRONG!!"
Hmmm, not off to a good start. The Fed does create money out of nothing, and it is entirely a fiat currency. True, it is pursuant to a legislative mandate, and it must work with its minions in Congress and the Executive Branch, but the Fed, particularly the NY Fed, is the tail that wags the dog. There is no limit on what the Fed can create. None. Not clear why this writer thinks otherwise. And yes, the government, aka John Q. Taxpayer, is a qualified borrower.
Of course, the government could stop this money creation simply by stopping the sale of Treasury bills, or even by repealing the FRA, but they are tools of the same special interests, so how likely is that?
________________________________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
Good post SB...
though admittedly i'm too lazy to read the entire lllllonoonnnngggggg thing, it's good to post varying views on whatever important topics there are. Dumbasses like me can learn by reading the arguements for and against what you're saying, and meanwhile learn a little bit.
I tend to find the comments from those who do not call names or belittle their opponent to be much more convincing, those show a little more intelligence even though they may not be absolutely correct.
So thanks for posting it.
--------
Fossils Rock!
'Cause there's a monster on the loose
According to Eustice Mullins
they are also tied in with the world drug trade. Maybe that is why they insist on secrecy!
http://video.google.com/videoplay?docid=-3185062173505156201...
By the way...
welcome to DailyPaul (1 day 8 hours). Your initials wouldn't be BB would they?
Thank you
Yes I did just start this screen name but I have been involved here and all over the movement for quite some time.
I am tired of the same old mantra and I feel it is our only hope for someone like me to start bringing this subject to a head.
Gold and Silver have never been worth zero...
paper currencies have, many times over. Just ask Mugabe's people which one they would rather have.
Not yet
Every society that has used gold as money has switched to paper. Problem is it has always been a closed ended system. AND every time they switched back to gold, it was also a closed sended system.
Remember that the people with most of the gold right now in 2009 are the same people that own the FED. The amount of gold floating aroung is nowhere near what would be required to service 325 million people and lets be real here, the whole world uses our money. What is it 6 billion or so.
It is not possible in this society to use gold. They used gold when they were young societies and barter wasn't viable anymore. We will never go back to a gold system. You better come up with one that can be used before this one is totally wiped out.
END THE FED!!!!
Federal Reserve Banking is a ponzi scheme-please deposit $10 in my bank, so that I can loan out $100. What happens if you don’t get paid back Mr. Banker? Sorry, that’s your loss-oh wait, we’ll have the taxpayers bail us out. I would count that as creating $ out of thin air. If you and I tried this, we would be arrested for fraud.
The Fed has victimized the American people with their boom and bust monetary policy through inflation and devaluation of their money. Inflation means you are paying more money for the same product. Incomes do not keep up with inflation; therefore it decreases the average person’s standard of living.
Most Americans have suffered a steadily eroding purchasing power, because of the Fed’s inflationary policy. A $50 face value gold coin now goes for over $1,000. And spot gold is at $938 an ounce of your precious Fed Reserve notes. Where is only took $50 to purchase the coin when coined, it now takes over $1,000-how is that good for us poor folk?
Having a stable currency would encourage savings, as inflation would not erode savings.
Sound money reigns in Gubbinment spending.
It is unconstitutional-there is no amendment to the Constitution that allows for a Central Bank.
There is no congressional oversight of these thieves.
As people realize that their $ is only backed by a corrupt Gubbinment and Federal Reserve that has done nothing more but continue to lie to them and steal from them, they will gravitate towards commodities.
You didn’t deny that your initials are BB (as in Ben Bernanke).
If gold is good enough for the power elite, it is good enough for me.
Competing currencies are good for the consumer (us poor folk). The Fed obviously does not want competition. Eventually through inflation, the $ won’t be worth wiping your ass with. Just as pennies are now worthless, the dollar will become a thing of the past. You didn’t acknowledge Zimbabwe. Maybe your last name is Mugabe?
Eric's idea sounds like a pyramid scheme.
I have a better idea. What if the only purpose of government was to accept donations from soveriegn people and then lend it to people at 0% interest. It would eliminate the need for banks and it would guarentee that money circulated in the economy. Better yet, eliminate government (the middleman) and people just donate money, goods or labor to projects they feel necessary. That would surely be free market in action.
grant
Now your at least starting to come up with ideas
Write up your plan and lets see how you would implement it.
Loans are already being made and interest is already being paid. So the only thing that would be noticable to the population would be no Tax. Sure there would be a few pissed off bankers but so what.
There has never been a solution like this proposed in history to my knowledge.
HERE IS WHAT MOST PATRIOTS DON'T UNDERSTAND
ABOUT THE FED!
Just think what this country would have be like now without the cost and deaths of The War of 1812, The Panic of 1837, The Civil War, The Great Depression, WWI, WWII, The Vietnam War, the assassination of the Lincoln and Kennedy, and the current financial mess we are in now - ALL COURTESY OF THE FEDERAL RESERVE.
Here is where you can get your head screwed back on straight!
http://video.google.com/videoplay?docid=-3185062173505156201...
The fed is NOT congress
Eustace Mullins said Eric's solution was brilliant and he wished he would have thought of it.
He was going to narrate Erics video but has been plagued with strokes.
You need to do a little more research DUDE!
You are only exposing you own ignorance and lack of understanding the history of the FED.
Eustice Mullins has been researching, speaking and publishing books on the FED for 50 years!