last rant,I promise. The FED RES. ?
many here know what is going on in the world today but for those of you confused this may help.
Most in the world believe that the federal reserve is part of the U.S. government. It is not. It is a private conglomerate of 7 world banking families, the Mellons,Rockafellers, Morgans, Rothschilds, Carnagies and othrs, who met in 1910 on Jeckell Island Georgia to devise a way to control the world money supply. in those days all banks were privately owned and could go in and out of business just like any other business. so to add "stability" to the banking business. in 1913 the Federal reserve act was passed, giving these 7 families and world bankers. control of the U.S. money supply. in those days there was some control over them because the Dolllar was tied directly to the gold holdings of a particular country, a Gold standard was set for each country and that countrys currency value was determined by the ammount of gold it held in reserve.
there were only 2 ways to increse the money supply in a country, 1. increase the gold supply in reserve. 2. to borrow money from another country who had more gold reserves .
in the 70s the gold standard was removed from the value of paper currency and then it was Katy bar the door. this freed the Fed to print "Fiat" dollars. ( paper money with no actual physical backing)
here is how it works the tresury department owns the money presses and actually prints the money. however the Fed private bankers controls them by law. (see federal reserve act ).
a dollar cost about .035 to print wheather it is one dollar bill or a one million doliar bill. the government needs money, the tresury sec calls the head of the FED and says I need one billion dollars. the fed calls the treasury printing office and authorises the printing of the money. now here is the rub, that instant we the people, owe the Fed, one billion dollars, plus 6% intrist. their cost .035 per bill or 1billion x .o35 your cost 1 billion x 100.025%. now we dont have the money or we wouldnt be borrowing it so to get that money the tresury produces T bills or tresury bonds and sells them to China for a discount rate plus intrest. since the rate is discounted we dont owe china 1billion but 1.4 billion plus intrest.
this is all created out of nothing, no backing other then the faith that you will work hard enough and pay the taxes to pay the chinese back, the fed has already got their money, with the unemployment situation and America no longer producing any thing. the world faith in the American dollar is faiding fast, this is called inflation the dollar is worth less in the eyes of the world so it takes more dollars to buy any thing including Gold. the only winner out of all this is the Federal reserve and the private bankers who own it.
