Shut Down the Federal Reserve?

[Sasta]

Are the fraud allegations from the article urging to Shut Down the Federal Reserve accurate? Why is there so little education about the Federal Reserve in the media, schools and universities?

Why is the Government Accountability Office not allowed a full audit of the Federal Reserve? The position that something is very wrong with the Federal Reserve is even supported by some courageous Congressmen from both parties. If their accusations are unfounded, then why aren't the democratically elected Congressmen allowed to audit the Federal Reserve's alleged fraudulent activities and private ownership? The US Constitution in Article I, Section 8, Paragraph 5, states that Congress has the authority to "coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;".

Why is the Federal Reserve so secretive?

http://thomaspainereturns.net/posts/sdfr.html

"The band aids will not help the economic crisis. There is a systemic problem. The Federal Reserve and all the central banks in the world that are designed on its model are defrauding the people of the world.

There is no rational reason why the U.S. Congress cannot print its own currency. The Congress was intimidated, bribed and blackmailed into creating and maintaining the Federal Reserve Bank. The Federal Reserve was awarded a contract to manage the currency in America. The cost of that contract to the U.S. has been $10 trillion in national debt.

To try to cover for the Federal Reserve's greedy fraud, many countries are being forced to pay into the Federal Reserve coffers to keep the world economy afloat. One of the ways they are being forced to pay is through devaluation of their currencies with respect to the U.S. dollar, which is a way of building up America at the expense of others in the world.

All of the band-aid measures will fail. The problem is the Federal Reserve, which concept is founded upon debt-based currency and fraud. It must be closed down or it will continue to suck the resources of the U.S. with its currency management contract. The American government could do the Federal Reserve's job for virtually nothing, and save the U.S. taxpayers between $200 and $900 billion each year in interest off a debt that will never be paid off."

http://en.wikipedia.org/wiki/Louis_McFadden

"McFadden is also remembered for his criticism of the Federal Reserve, which he claimed was created and operated by European banking interests who conspired to economically control the United States. On June 10, 1932, McFadden made a 25-minute speech before the House of Representatives[2] , in which he accused the Federal Reserve of deliberately causing the Great Depression."

http://en.wikipedia.org/wiki/Huey_Long

"Long was a staunch opponent of the Federal Reserve Bank. Together with a group of Congressmen and Senators, Long believed the Federal Reserve's policies to be the true cause of the Great Depression. Long made speeches denouncing the large banking houses of Morgan and Rockefeller centered in New York which owned stock in the Federal Reserve System. He believed that they controlled the monetary system to their own benefit, instead of the general public's benefit."

http://en.wikipedia.org/wiki/Rand_Paul

"Paul opposes the Federal Reserve Act of 1913 and the Federal Reserve's control of the nations money supply and interest rates. He wants to allow the free market to regulate interest rates, and supports congresses constitutional role of controlling the money supply. Paul endorses H.R. 1207, the Federal Reserve Transparency Act, a bill introduced by Congressman Ron Paul mandating an audit of the Federal Reserve. Although Paul would abolish the Federal Reserve, he supports transparency and accountability of the semi-private institution. Additionally, Paul opposes inflation and supports "restoring the value of the dollar that has devalued by approximately 95% since the Federal Reserve's inception in 1913"."

http://en.wikipedia.org/wiki/Alan_Grayson

"Grayson is a co-sponsor of the Federal Reserve Transparency Act of 2009, which would provide addition provisions to audit the Federal Reserve, including removing several key exemptions."

[Izlude]

From what I've read, (articles published by Kennedy archived at my library) the Government unit, congress (the brain) has the power to shut them down and they have all the evidence they need, but they choose not to. I just don't know what they're planning.

In your posted articles, I do know that it was an admitted fact by the Rockefellers that things were "staged" to have the Reserve established. Someone even said, "What have I done to our country..." It just gave me the shivers seeing that. A rumor was spread that people would lose their deposits, causing panic and then the idea was introduced for this organization. If I'm not mistaken, the USA was created to escape from the Central Bank. They even swore never to let such a thing happen again, but, look what happened... Too bad...

Lets look at it this way. If they taught our students about such a scandal, what do you think would happen? They'd massacre the people behind it and certainly have it disassembled. The people behind the Fed "do not want that" because it'd be the end of their money making. No business wants to go "out of business" ;)

But yes, it is evil.

[gian]

Shut it down? Don't you think that's a little extreme? How are they going to feed their kids without making trillions? :whistle:

[ramesees]

The Federal Reserve like all Central Banks are basically fraudulent, evil entities.

The fractional reserve system of lending is what has caused all of the world's economic problems, and created a system that is almost impossible to get out of.

A totally ludicrous system whereby you borrow $100 and pay back $110 (as an example)

But that $10 of interest has been fabricated from thin air, so to pay it back you essentially need to borrow another $10 (from the same source you are paying it back to)

You then have to pay back $11 (again with the 10% interest as easy numbers).

And so on, and so on until you get to the point you borrow $100,000 and have to pay $10,000 in interest, which leads to more borrowing and more interest until the who system collapses as you can never pay back what you "owe".

Until this system is closed down and changed (on a global level), away from Central Banks we as a species are doomed, destined to toil until we drop, not able to fully appreciate the lives we have, unless we get more "money", while all the time, those at the top of the tree get richer and richer and control our lives even more.

A question that has been posed many times is "Why do we need money at all?" What is it that costs us to live on our own planet?

Why did money start, what is its real purpose, why cant we just work for the good of all (yes I know this is a huge, mammoth and almost impossible task) ?

A system like in Star Trek for example - humans work for the betterment of themselves, they improve their lives, technology is researched and developed, no-one is hungry, diseases are cured without the need for "expensive" drugs and surgeries.

Not a day I may see in my lifetime, but I would love to believe we will get there someday.

[Growled Member]

The Federal Reserve like all Central Banks are basically fraudulent, evil entities.

Says it all, I think.

[TCA]

Says it all, I think.

+1

[Treemonkeys]

Are the fraud allegations from the article urging to Shut Down the Federal Reserve accurate? Why is there so little education about the Federal Reserve in the media, schools and universities?

Because it's a scam, and of course they know it. The federal reserve is the idea that you should take a very small group of bankers, allow them exclusive access to print money for nothing, and get paid interest on that money (collected from taxpayers). All central banks are the same scam, it is really a banking cartel, the sooner people realize this the better off we all will be...assuming they don't just put another scam in it's place and pull the wool over the eyes once again.

It's the same reason Thomas Jefferson said this about central banks:

"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around [the banks], will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."

- Thomas Jefferson

...and it's the same reason Abe Lincoln said this about the current fed reserve system:

"If the American people knew tonight, exactly how the monetary and banking system worked, there would be a revolution before tomorrow morning."

- Abraham Lincoln

The reason for so little education is the exact reason of avoiding that inevitable revolution that would come to place after the education. People will try to make the fed reserve system sound very complicated, they same way that they try to make the economy sound very complicated (and how the fed reserve manipulates it) but it is really VERY simple.

[ramesees]

Says it all, I think.

+1

Would either of you like to expand on your "comments" ?

[Colin-uk Veteran]

moved here

[gian]

Would either of you like to expand on your "comments" ?

What kind of expansion do you need? The first post says it all and nobody denies it.

It's very simply.

The not-so-Federal Reserve works like a bank, it cares for maximum profits not for the service of the people. But it's even worse than a "normal" bank it controls all our money.

Basically what you have on your hands is debt. Debt that you will never be able to repay no matter how hard you work because you will get paid with money from the Federal reserve, that means :

moneyYouOwe = moneyPrinted + interest

You can never have more money than moneyPrinted so you will always have to ask for more money to pay your debt which increases the debt :s

Cool way to control your life and it will work because 99% of the people out there have no idea of how the monetary system functions and don't see any problem as long as they have money on their hands. What they don't realize is that public debt is increasing for every dollar on their hand and even if they gather all their money together they will still not be able to repay the debt.

[ramesees]

What kind of expansion do you need? The first post says it all and nobody denies it.

It's very simply.

The not-so-Federal Reserve works like a bank, it cares for maximum profits not for the service of the people. But it's even worse than a "normal" bank it controls all our money.

Basically what you have on your hands is debt. Debt that you will never be able to repay no matter how hard you work because you will get paid with money from the Federal reserve, that means :

moneyYouOwe = moneyPrinted + interest

You can never have more money than moneyPrinted so you will always have to ask for more money to pay your debt which increases the debt

Cool way to control your life and it will work because 99% of the people out there have no idea of how the monetary system functions and don't see any problem as long as they have money on their hands. What they don't realize is that public debt is increasing for every dollar on their hand and even if they gather all their money together they will still not be able to repay the debt.

I must admit I thought your comment about mine was of a derogatory nature - I wasnt aware from your post that you agreed with what I had said. :)

But yeah, what you posted above is 100% on the money (pardon the pun) and people need to understand this and the system needs to change.

Even though it wont without revolution

[TrueMonolith]

It would be interesting to see how little money is left in the US once the fed is gone.

Speaking as a non US citizen in a country that would directly benefit from the removal of the federal reserve system in the US...i wholeheartedly support this motion.

[gian]

I must admit I thought your comment about mine was of a derogatory nature - I wasnt aware from your post that you agreed with what I had said. :)

But yeah, what you posted above is 100% on the money (pardon the pun) and people need to understand this and the system needs to change.

Even though it wont without revolution

I just saw that you posted pretty much what I did before me :p

I guess my point was that there is no much room for "expansions" on their comment because the problem can be summed in one post like yours.

I am sure they have another bad system ready to replace the federal reserve unfortunately..

[Darth Laidher]

shut it down..

[Jason S. Global Moderator]

The fractional reserve system is set to fail from its birth. The only reason we have inflation in this country is from our Central Bank. People never wonder why stuff in the 1960s (for example) was so much cheaper than decades after?

Why doesnt our govt (outside Ron Paul) demand that the Fed be audited? (rhetorical question, i know)

I wish the american public was more informed about this. 99% of the populace thinks the Federal Reserve is actually federal. cant blame them though - education is needed.

for those interested - there are many many documentaries on the Federal Reserve. Ron Paul wrote a book last year that's pretty good and a fast read: End the Fed

[+Biscuits Brown MVC]

I don't agree with the idea of the Federal reserve however anyone that that thinks the solution is giving Congress their rightful duty of printing their own money is crazy. Those guys can't handle what they have now, the last thing I want them to have is the key to the printing room!!

[cloaked]

Yea... the whole idea that rich corporate banks (some foreign) own the United States economy kind of sucks. Although I will admit that I am not completely learned in this topic, I cant really imagine our government taking over being any better. You're basically trading crooks for crooks. Its not even our whole government I don't trust, its just that there will always be a few key players that only have their own interests at heart. :(

[TrueMonolith]

I don't agree with the idea of the Federal reserve however anyone that that thinks the solution is giving Congress their rightful duty of printing their own money is crazy. Those guys can't handle what they have now, the last thing I want them to have is the key to the printing room!!

I've made this point before.

Here's the response you're going to get:

1) Hayekian Libertarian Response : Private money is the solution.

2) Ron Paul Bot : Why shouldn't our representatives have control of the currency? We should also go back to the gold standard.

I wish Ron Paul supporters could see the inconsistencies in Ron Paul's "libertarian" views.

[2xSilverKnight]

I've made this point before.

Here's the response you're going to get:

1) Hayekian Libertarian Response : Private money is the solution.

2) Ron Paul Bot : Why shouldn't our representatives have control of the currency? We should also go back to the gold standard.

I wish Ron Paul supporters could see the inconsistencies in Ron Paul's "libertarian" views.

Bot ? Really ??

While I don't agree 100 % with Ron Paul, he got a lot of things right.

And forget about democratic,republican, libertarian. It doesn't mean anything anymore !

[Quattrone]

From Wikipedia:

According to official Federal Reserve documentation, fall into four general categories:

Conducting the nation's monetary policy by influencing monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates.

Supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system, and protect the credit rights of consumers.

Maintaining stability of the financial system and containing systemic risk that may arise in financial markets.

Providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system.

The Federal Reserve describes its structure as composed of five parts:

The presidentially appointed Board of Governors (or Federal Reserve Board), an independent federal government agency located in Washington, D.C.

The Federal Open Market Committee (FOMC), composed of the seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank presidents, which oversees open market operations, the principal tool of U.S. monetary policy.

Twelve regional privately-owned Federal Reserve Banks located in major cities throughout the nation, which divide the nation into twelve Federal Reserve districts. The Federal Reserve Banks act as fiscal agents for the U.S. Treasury, and each has its own nine-member board of directors.

Numerous other private U.S. member banks, which own required amounts of non-transferable stock in their regional Federal Reserve Banks.

Various advisory councils.

According to the board of governors of the Federal Reserve, "It is not 'owned' by anyone and is 'not a private, profit-making institution'. Instead, it is an independent entity within the government, having both public purposes and private aspects."In particular, the U.S. Government does not own shares in the Federal Reserve System nor its component banks, but does take 94% of the Federal Reserve System's profits. The other 6% is paid out to member banks in the form of a dividend on their stock. The government also exercises some control by appointing the Federal Reserve System's highest-level employees and setting their salaries. The Federal Reserve made a record profit of $45 billion in 2009, nearly all of which was transferred to the U.S. Treasury.

As you see guys, the federal reserve is a very important institution and only the gimmick of the right wing conservative propaganda wants to distort reality with their own sick ideas.

[2xSilverKnight]

From Wikipedia:

As you see guys, the federal reserve is a very important institution and only the gimmick of the right wing conservative propaganda wants to distort reality with their own sick ideas.

"It is not 'owned' by anyone and is 'not a private, profit-making institution'. Instead, it is an independent entity within the government, having both public purposes and private aspects."

You really believe that ?

[TrueMonolith]

Bot ? Really ??

While I don't agree 100 % with Ron Paul, he got a lot of things right.

And forget about democratic,republican, libertarian. It doesn't mean anything anymore !

the only parts he got right were the parts that were common sense.

You're ignoring the misses and counting the hits.

Ron Paul is just another confused conservative.

[blade1269]

Hey,

Shut it down!!!

[cloaked]

"It is not 'owned' by anyone and is 'not a private, profit-making institution'. Instead, it is an independent entity within the government, having both public purposes and private aspects."

You really believe that ?

I think he was being sarcastic. I hope.

[Fluxii Media]

What I don't understand is how so many know about this scam, and yet no one has the balls to actually try to start something to help change it. If a revolution is needed (which America is in desperate need of!) then a revolution we must deliver. I've gone from friend to friend, informing them, and rallying up the troops, but I fall on deaf ears beyond my city because no one else cares to try. Instead, you all just talk about it, and do nothing in the end.

Talk is cheap. Learn to take action.