by A_solo_tripper
The Federal Reserves sales pitch: “The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system” aka Give us little dudes a monopoly to print worthless I owe you’s for the United States.
The Federal Reserve and the Board of governors are totally separate entities ON PAPER.
The board of governors are tasked to govern and regulate the private bank. To confuse this is like conflating the health inspector of a restaurant with the owner of the restaurant. Yet, if the health inspector couldn’t close or grade a filthy restaurant, what good are the inspectors?
Unlike there being hundreds, if not thousands, of health inspectors, the federal reserve- which owns many different banks under different names- have a whopping 7 people to inspect these banks across the US. You would think that there would be more regulators for such a large financial institution, no? Come to think of it, what good could they do anyways??
To simplify what the little dudes of the Federal Reserve do is print ‘I owe you notes’ backed by nothing more than I owe you notes. Sounds super silly right? Well, it gets worse. Not only are these i owe you’s backed by nothing, the US government asks the the little dudes at federal reserve for some of their worthless-unbacked I owe you notes and pays them interest on the worthless notes.
How many of these worthless I owe you notes can the little dudes at the Federal Reserve create? One billion? 1 trillion? No. Unlimited worthless I owe You notes. Remember, they are a private entity, who has the power to create I owe you notes indefinitely,
They have a monopoly over the creation of I owe you notes… that are worthless. Why? The Federal Reserve Act of 1913.
So, how can they do this? Privately, they just hit keys on a keyboard. Publicly, loans.
When you go to a bank, take out a 10 million dollar loan, do you think that bank really has 10 million dollars in the vault? No. The bank will type 10 million dollars into your account (that is not in existence prior) and that bank will charge you % interest on that loan. If you do your part, and pay back the loan-on time, the bank just created 10 million plus interest in their pockets out of thin air.
And what will happen if you don’t payback the loan? No worries to the bank… they just print more money aka repo aka QE aka the scam.
The United states government was designed to create money itself was bamboozled by a couple of little dudes.
Veto the Federal Act