January 1, 2012
The Truth about the”Federal” Reserve
In light of the recent financial and economic woes, the “bailout” of Fannie Mae and Freddie Mac, the recent trillion dollar mortgage “bailouts”, the crash of the housing market, and the resulting huge swings in the stock market and the predicted runs on banks, I felt it would be appropriate to discuss The Federal Reserve System (aka “The Fed”) and its history.
I remember in 2008 when Congress was attempting to pass the $700 billion “bailout,” I was sitting in the San Antonio airport waiting for a flight to Nashville. I watched several “financial experts” express their opinions on the pros and cons of the bailout, and as I listened, it seemed that at least once per sentence someone would refer to “The Fed.” I had to chuckle to myself as these supposedly sophisticated people (representatives of our largest and most prominent financial institutions and “think tanks”) were obviously ignorant of the truth about “The Fed.”
You see, the simple truth is that The Federal Reserve System is neither “federal,” nor does it have any “reserves.” The Fed is a system of private banks, owned by rich foreign and American bankers. It is the biggest scam ever perpetrated upon the American people. The Fed is the reason we have inflation and an enormous national debt, which, by the way, will NEVER be paid off, since The Fed would rather have the interest on the loan (the national debt) than the principal, because they make trillions of dollars from the US being in debt.
“But wait a minute! Doesn’t the US government control The Fed? Doesn’t the President appoint the Chairman of the Federal Reserve?” Well, yes, the President does appoint the Chairman…but NO, the US government does NOT control The Fed. Quite the opposite. The Fed actually controls the US government. Baron M. Rothschild once wrote, “Give me control over a nation’s currency and I care not who makes its laws.” Well, The Fed not only controls the US currency, but it also controls our politicians.