Nobody seems to emphasize that the Federal Reserve is a private bank with the exclusive right to issue USD since 1913. The money is issued as a "loan" to the taxpayers with an interest, while the money is distributed among friends and family.
This is, by orders of magnitude, the largest theft in the history of the world, but it nicely fits into a long-term timetable:
BTW...they don't issue USD. They issue Federal Reserve Notes denominated in NO THING. They are instruments of legalized theft. I wish we could post pictures on here.
Actually it doesn't fit the correct definition of "money". Which is something durable, divisible and a store of value. It doesn't fit any of those three requirements! Federal Reserve Notes are not federal, represent no monetary reserves and no longer conform to the definition of notes. Failing to state who, will pay what, when or to whom - they ceased to be legal tender notes, (offers of money) over 50 years ago. They are in fact instruments of legalized THEFT. Look at this and note the contract. http:///bornagainclassics.com/Books/images/50-story.jpg Do realize that LAWFUL and LEGAL have two different meanings.
Private but well connected to the government cartel. "The Federal Government, with the cooperation of the Federal Reserve, has the inherent power to create money--almost any amount of it."
~ The National Debt, Federal Reserve Bank of Philadelphia, p. 8
ALMOST? Why only ALMOST? What keeps them from creating ALL they want? You? Me? Your dog? A full moon?
Federal Reserve Notes are not federal, represent no monetary reserves and no longer conform to the definition of notes. Failing to state who, will pay what, when or to whom - they ceased to be legal tender notes, (offers of money) over 50 years ago. They are in fact instruments of legalized THEFT.
I think I've made it clear to anyone that can understand simple English.
Sorry, I typed "load" instead of "loan" at the beginning of my comment. Corrected. Other than that, I think, I've also made it clear, which cannot hurt. :)
Related public announcements usually leave out the part that any issued USD is a LOAN to the paxpayer, who has to pay an interest after the money. Even the bravest only want to "audit the Fed," while it's been robbing Americans blind in the last 109 years.
I left out that the collateral for the "loan" in the USA includes all the assets around, and the taxpayer is counted as one. I've seen such contracts...
I'm not sure how simple the explanation must be for people to understand that they are treated as assets...
I've read this from other sources on occasion and I'm sure there is some connection to it, BUT the fact is that it makes no sense. They don't NEED the labor of the people to pay back something they created out of thin air in the first place. The only REASON they do, is to make the people "think" that they need the taxes. It's a con to cover up the con. That is why Keyenes is quoted as saying that if the government would refrain from regulating the money supply, (which is one thing that taxes do) the apparent FRAUD of the system would become evident and would no longer work. The problem I see is the belief that "they" need taxes to get by when they don't.
Taxes are also about control. After all, besides Eretreia, the US is the only country that expects its citizens to pay taxes in the US (above a certain income), even if they work abroad.
Could the country still be saved, if the Fed was kicked out and all the fraudulent debt erased?
Elected officials, somehow, feel entitled to spend on stuff nobody around here needs, which also enhances the illusion of debt.
Tax money is more money in circulation, and the real money is stolen through inflation (interests).
The whole act is part of the controlled demolition of the country. Keeping up appearances is necessary in order to make the taxpayer's eventual default on the "loan" look real. The real national debt is 8-10 times the official $30 trillion, when unfunded liabilites are included... In the last two years, it has been accelerated in an obviously insane manner to eye-popping levels.
The fraud, however, is obvious, once people learn how the system works, taxes or no taxes. The theft is committed through interests and the subsequent inflation.
Blood running in the streets. Mobs of rioters and demonstrators threatening banks and legislators. Looting of shop and home. Credit ruined. Strikes and unemployment. Trade and distribution paralyzed. Shortages of food. Bankruptcies everywhere. Court dockets overloaded. Kidnappings for heavy ransom. Sexual perversion, drunkenness, lawlessness rampant...
One distinguished politician writes to another: "The wheels of government are clogged, and we are descending into the vale of confusion and darkness. No day was every more clouded then the present. We are fast verging to anarchy and confusion."
Where, when and whom? Get ready for a shock: AMERICA, 1786, ten years after the signing of the Declaration of Independence. The correspondence was from George Washington to James Madison. On February 3rd, 1787, Washington wrote to Henry Knox: "If a person had told me that we there would have been such formidable rebellion as exists, I would have thought him fit for a madhouse."
What went wrong? What forced this noble new country into conditions far worse than the tyranny against which it had declared its independence in the first place? The history books tell us it was a complicated variety of interrelated things, but reality tells us it was only one: the money issued by the Continental Congress and the states' banking houses was paper that could not be redeemed for gold or silver coin. Inflation, that was what had sunk George Washington to the depths of despair.
The paper currency of the Congress was printed in such exorbitant amounts (in relation to the precious metals they represented) that wages and prices skyrocketed, forcing the Legislature to enact harsh wage and price controls. When these failed, moral-sounding laws reeking of piety and patriotism were enacted in an attempt to chain the people under penalty of violence to the government's absurd money:
If any person shall hereafter be so lost to all virtue and regard for his Country as to refuse to accept its notes, such person shall be deemed an enemy of his Country.
This amounts to a law protecting bad check artists and so the people naturally ignored it and others like it. The depreciation of paper currency relative to coin followed the same sickening course our paper currency follows today....
Folks, the previous information was taken from a book written in 1980 titled "Miracle on Main Street" by the late F. Tupper Saucy, let this sink in...NINETEEN EIGHTY. We are now in the year 2017, rapidly approaching an abyss. That was over THIRTY SEVEN years ago. Have you heard the phrase "Worthless as a Continental?" It is the same concept. Let's look at the problem that is looming or that we are already embroiled in closer:
"By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."
- John Maynard Keynes
or the following by Congressman Ron Paul:
The Inflation Tax
by Ron Paul
All government spending represents a tax. The inflation tax, while largely ignored, hurts middle-class and low-income Americans the most. Simply put, printing money to pay for federal spending dilutes the value of the dollar, which causes higher prices for goods and services. Inflation may be an indirect tax, but it is very real – the individuals who suffer most from cost of living increases certainly pay a “tax.”
Unfortunately no one in Washington, especially those who defend the poor and the middle class, cares about this subject. Instead, all we hear is that tax cuts for the rich are the source of every economic ill in the country. Anyone truly concerned about the middle class suffering from falling real wages, under-employment, a rising cost of living, and a decreasing standard of living should pay a lot more attention to monetary policy. Federal spending, deficits, and Federal Reserve mischief hurt the poor while transferring wealth to the already rich. This is the real problem, and raising taxes on those who produce wealth will only make conditions worse.
Borrowing money to cut the deficit is only marginally better than raising taxes. It may delay the pain for a while, but the cost of government eventually must be paid. Federal borrowing means the cost of interest is added, shifting the burden to a different group than those who benefited and possibly even to another generation. Eventually borrowing is always paid for through taxation.
The third option is for the Federal Reserve to create credit to pay the bills Congress runs up. Nobody objects, and most Members hope that deficits don’t really matter if the Fed accommodates Congress by creating more money. Besides, interest payments to the Fed are lower than they would be if funds were borrowed from the public, and payments can be delayed indefinitely merely by creating more credit out of thin air to buy U.S. treasuries. No need to soak the rich. A good deal, it seems, for everyone. But is it?
The “tax” is paid when prices rise as the result of a depreciating dollar. Savers and those living on fixed or low incomes are hardest hit as the cost of living rises. Low- and middle-incomes families suffer the most as they struggle to make ends meet while wealth is literally transferred from the middle class to the wealthy. Government officials stick to their claim that no significant inflation exists, even as certain necessary costs are skyrocketing and incomes are stagnating.
The transfer of wealth comes as savers and fixed-income families lose purchasing power, large banks benefit, and corporations receive plush contracts from the government – as is the case with military contractors. These companies use the newly printed money before it circulates, while the middle class is forced to accept it at face value later on. This becomes a huge hidden tax on the middle class, many of whom never object to government spending in hopes that the political promises will be fulfilled and they will receive some of the goodies. But surprise – it doesn’t happen. The result instead is higher prices for prescription drugs, energy, and other necessities. The freebies never come.
The moral of the story is that spending is always a tax. The inflation tax, though hidden, only makes things worse. Taxing, borrowing, and inflating to satisfy wealth transfers from the middle class to the rich in an effort to pay for profligate government spending, can never make a nation wealthier. But it certainly can make it poorer.
I want to include the writing of David Bachert from 1998 with a 2009 update here:
You see, the nexus of our problem is that we no longer HAVE REAL MONEY!
· I point out again that when we hear that gold (or silver) is so much an ounce, we are being given a ratio — almost always the case with the media friends of paper money — precisely opposite of how it SHOULD be expressed. At the moment, gold is NOT, for example, $1,100. an ounce, rather, the “dollar” has been reduced to a value of 1/1,100th of an ounce of gold. If the “dollar” is inflated to 1/6,300th of an ounce of gold, folks would get a more meaningful picture of what the politicians and the Fed have done to the currency. Another interesting stat is that before the vote-buying politicians and masters of the universe at the Fed pulled us off a precious metals standard back in the day, the dollar was equal to 1/35th of an ounce of gold. And it has been calculated that the “dollar” of today is equivalent to 1 cent when measured against the dollar of 1913 or so. Sadly, it will ever be thus and it seems we must relearn those painful lessons every few generations. In case some of you hadn’t noticed, class is now in session.
History proves that EVERY house of cards eventually comes down. And the higher the card house, the harder the fall when it finally comes. And when it does, the more freedoms we will voluntarily surrender to “restore order.” It was the Founders’ concern about this historically valid problem which prompted their attempt — now ignored — to keep American “money” sound and honest.)
And I certainly recognize that NO system of commodity backed paper “money” is foolproof (and we now seem to be led by some of history’s biggest fools) how’s the current UNBACKED system working out for you?
Dick Bachert 1998
***************
2009 UPDATE:
I have noted with interest that I have lately been getting far, far fewer flames from the paper money lovers out there. And when, over 2 years ago, I began ranting about the incredibly stupid financial devices (derivatives, mortgage backed securities, etc.) being created to hoodwink the greater fools out there who were snapping up these things, I could count on about half the responders to tell me I was too simple-minded to understand these highly complicated financial “products.” I guess all those really bright financial guys are too busy now washing car windows at traffic lights to post here.
And I’d ask you to consider that when gold and silver come up in the news, the talking heads fall into the old, establishment fostered trap of measuring the precious metals in the rapidly failing paper when they SHOULD remark that it is the metals that are – within the narrow confines of fluctuations caused by their uses as industrial commodities – holding THEIR value and it is the paper that is INFLATING. (The classic example is that around 1900, one could buy a fine man’s suit for one ounce of gold. YOU STILL CAN!!!)
A fiat money system of the sort we are now painfully watching collapse creates a FALSE world of FALSE feelings of well-being and elevated lifestyles. During the expansion phase of such a system, those living under it spend or borrow more than they should, have more children than they can afford and, at the national level, come to believe they can afford to allow a score of millions of illegals to come here for educations, welfare payments, medical care, etc. They reject the immutable and universal economic realities and embrace what my old friend, the late Tupper Saussy, called “the IDEASPHERE.”
Now that the inevitable economic catastrophe is upon us, how much fun is it to watch the idiots in congress who triggered this thing scramble for cover by blaming everyone else? Not much!
The only folks who feel good now are the Hank Paulsons and Obamaites of the world who are in the process of conducting what may prove to be one of the largest raids on the REAL wealth of this nation – our labor and real property – ever witnessed.
And I’ll readily concede that while a precious metals backed money system ain’t perfect, ASK YOURSELF HOW THE FIAT MONEY SYSTEM NOW COLLAPSING ALL AROUND US HAS BEEN WORKING FOR YA’?
“Liberty lies in the hearts of men and women; if it dies there, no constitution, no law, no court can save it.” — Judge Learned Hand, 1944
Nobody seems to emphasize that the Federal Reserve is a private bank with the exclusive right to issue USD since 1913. The money is issued as a "loan" to the taxpayers with an interest, while the money is distributed among friends and family.
This is, by orders of magnitude, the largest theft in the history of the world, but it nicely fits into a long-term timetable:
https://rayhorvaththesource.substack.com/p/in-case-you-are-in-doubt
BTW...they don't issue USD. They issue Federal Reserve Notes denominated in NO THING. They are instruments of legalized theft. I wish we could post pictures on here.
Thank you for the correction. Either way, it's money issued as debt...
Another one to check out: http://bornagainclassics.com/BGM/bgm.html
Actually it doesn't fit the correct definition of "money". Which is something durable, divisible and a store of value. It doesn't fit any of those three requirements! Federal Reserve Notes are not federal, represent no monetary reserves and no longer conform to the definition of notes. Failing to state who, will pay what, when or to whom - they ceased to be legal tender notes, (offers of money) over 50 years ago. They are in fact instruments of legalized THEFT. Look at this and note the contract. http:///bornagainclassics.com/Books/images/50-story.jpg Do realize that LAWFUL and LEGAL have two different meanings.
Private but well connected to the government cartel. "The Federal Government, with the cooperation of the Federal Reserve, has the inherent power to create money--almost any amount of it."
~ The National Debt, Federal Reserve Bank of Philadelphia, p. 8
ALMOST? Why only ALMOST? What keeps them from creating ALL they want? You? Me? Your dog? A full moon?
Federal Reserve Notes are not federal, represent no monetary reserves and no longer conform to the definition of notes. Failing to state who, will pay what, when or to whom - they ceased to be legal tender notes, (offers of money) over 50 years ago. They are in fact instruments of legalized THEFT.
I think I've made it clear to anyone that can understand simple English.
Sorry, I typed "load" instead of "loan" at the beginning of my comment. Corrected. Other than that, I think, I've also made it clear, which cannot hurt. :)
Related public announcements usually leave out the part that any issued USD is a LOAN to the paxpayer, who has to pay an interest after the money. Even the bravest only want to "audit the Fed," while it's been robbing Americans blind in the last 109 years.
I left out that the collateral for the "loan" in the USA includes all the assets around, and the taxpayer is counted as one. I've seen such contracts...
I'm not sure how simple the explanation must be for people to understand that they are treated as assets...
I've read this from other sources on occasion and I'm sure there is some connection to it, BUT the fact is that it makes no sense. They don't NEED the labor of the people to pay back something they created out of thin air in the first place. The only REASON they do, is to make the people "think" that they need the taxes. It's a con to cover up the con. That is why Keyenes is quoted as saying that if the government would refrain from regulating the money supply, (which is one thing that taxes do) the apparent FRAUD of the system would become evident and would no longer work. The problem I see is the belief that "they" need taxes to get by when they don't.
Sounds good enough to me about taxation.
Taxes are also about control. After all, besides Eretreia, the US is the only country that expects its citizens to pay taxes in the US (above a certain income), even if they work abroad.
Could the country still be saved, if the Fed was kicked out and all the fraudulent debt erased?
Elected officials, somehow, feel entitled to spend on stuff nobody around here needs, which also enhances the illusion of debt.
Tax money is more money in circulation, and the real money is stolen through inflation (interests).
The whole act is part of the controlled demolition of the country. Keeping up appearances is necessary in order to make the taxpayer's eventual default on the "loan" look real. The real national debt is 8-10 times the official $30 trillion, when unfunded liabilites are included... In the last two years, it has been accelerated in an obviously insane manner to eye-popping levels.
The fraud, however, is obvious, once people learn how the system works, taxes or no taxes. The theft is committed through interests and the subsequent inflation.
It's just a repeat of:
I can't post it all.
Blood running in the streets. Mobs of rioters and demonstrators threatening banks and legislators. Looting of shop and home. Credit ruined. Strikes and unemployment. Trade and distribution paralyzed. Shortages of food. Bankruptcies everywhere. Court dockets overloaded. Kidnappings for heavy ransom. Sexual perversion, drunkenness, lawlessness rampant...
One distinguished politician writes to another: "The wheels of government are clogged, and we are descending into the vale of confusion and darkness. No day was every more clouded then the present. We are fast verging to anarchy and confusion."
Where, when and whom? Get ready for a shock: AMERICA, 1786, ten years after the signing of the Declaration of Independence. The correspondence was from George Washington to James Madison. On February 3rd, 1787, Washington wrote to Henry Knox: "If a person had told me that we there would have been such formidable rebellion as exists, I would have thought him fit for a madhouse."
What went wrong? What forced this noble new country into conditions far worse than the tyranny against which it had declared its independence in the first place? The history books tell us it was a complicated variety of interrelated things, but reality tells us it was only one: the money issued by the Continental Congress and the states' banking houses was paper that could not be redeemed for gold or silver coin. Inflation, that was what had sunk George Washington to the depths of despair.
The paper currency of the Congress was printed in such exorbitant amounts (in relation to the precious metals they represented) that wages and prices skyrocketed, forcing the Legislature to enact harsh wage and price controls. When these failed, moral-sounding laws reeking of piety and patriotism were enacted in an attempt to chain the people under penalty of violence to the government's absurd money:
If any person shall hereafter be so lost to all virtue and regard for his Country as to refuse to accept its notes, such person shall be deemed an enemy of his Country.
This amounts to a law protecting bad check artists and so the people naturally ignored it and others like it. The depreciation of paper currency relative to coin followed the same sickening course our paper currency follows today....
Folks, the previous information was taken from a book written in 1980 titled "Miracle on Main Street" by the late F. Tupper Saucy, let this sink in...NINETEEN EIGHTY. We are now in the year 2017, rapidly approaching an abyss. That was over THIRTY SEVEN years ago. Have you heard the phrase "Worthless as a Continental?" It is the same concept. Let's look at the problem that is looming or that we are already embroiled in closer:
"By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."
- John Maynard Keynes
or the following by Congressman Ron Paul:
The Inflation Tax
by Ron Paul
All government spending represents a tax. The inflation tax, while largely ignored, hurts middle-class and low-income Americans the most. Simply put, printing money to pay for federal spending dilutes the value of the dollar, which causes higher prices for goods and services. Inflation may be an indirect tax, but it is very real – the individuals who suffer most from cost of living increases certainly pay a “tax.”
Unfortunately no one in Washington, especially those who defend the poor and the middle class, cares about this subject. Instead, all we hear is that tax cuts for the rich are the source of every economic ill in the country. Anyone truly concerned about the middle class suffering from falling real wages, under-employment, a rising cost of living, and a decreasing standard of living should pay a lot more attention to monetary policy. Federal spending, deficits, and Federal Reserve mischief hurt the poor while transferring wealth to the already rich. This is the real problem, and raising taxes on those who produce wealth will only make conditions worse.
Borrowing money to cut the deficit is only marginally better than raising taxes. It may delay the pain for a while, but the cost of government eventually must be paid. Federal borrowing means the cost of interest is added, shifting the burden to a different group than those who benefited and possibly even to another generation. Eventually borrowing is always paid for through taxation.
The third option is for the Federal Reserve to create credit to pay the bills Congress runs up. Nobody objects, and most Members hope that deficits don’t really matter if the Fed accommodates Congress by creating more money. Besides, interest payments to the Fed are lower than they would be if funds were borrowed from the public, and payments can be delayed indefinitely merely by creating more credit out of thin air to buy U.S. treasuries. No need to soak the rich. A good deal, it seems, for everyone. But is it?
The “tax” is paid when prices rise as the result of a depreciating dollar. Savers and those living on fixed or low incomes are hardest hit as the cost of living rises. Low- and middle-incomes families suffer the most as they struggle to make ends meet while wealth is literally transferred from the middle class to the wealthy. Government officials stick to their claim that no significant inflation exists, even as certain necessary costs are skyrocketing and incomes are stagnating.
The transfer of wealth comes as savers and fixed-income families lose purchasing power, large banks benefit, and corporations receive plush contracts from the government – as is the case with military contractors. These companies use the newly printed money before it circulates, while the middle class is forced to accept it at face value later on. This becomes a huge hidden tax on the middle class, many of whom never object to government spending in hopes that the political promises will be fulfilled and they will receive some of the goodies. But surprise – it doesn’t happen. The result instead is higher prices for prescription drugs, energy, and other necessities. The freebies never come.
The moral of the story is that spending is always a tax. The inflation tax, though hidden, only makes things worse. Taxing, borrowing, and inflating to satisfy wealth transfers from the middle class to the rich in an effort to pay for profligate government spending, can never make a nation wealthier. But it certainly can make it poorer.
I want to include the writing of David Bachert from 1998 with a 2009 update here:
You see, the nexus of our problem is that we no longer HAVE REAL MONEY!
· I point out again that when we hear that gold (or silver) is so much an ounce, we are being given a ratio — almost always the case with the media friends of paper money — precisely opposite of how it SHOULD be expressed. At the moment, gold is NOT, for example, $1,100. an ounce, rather, the “dollar” has been reduced to a value of 1/1,100th of an ounce of gold. If the “dollar” is inflated to 1/6,300th of an ounce of gold, folks would get a more meaningful picture of what the politicians and the Fed have done to the currency. Another interesting stat is that before the vote-buying politicians and masters of the universe at the Fed pulled us off a precious metals standard back in the day, the dollar was equal to 1/35th of an ounce of gold. And it has been calculated that the “dollar” of today is equivalent to 1 cent when measured against the dollar of 1913 or so. Sadly, it will ever be thus and it seems we must relearn those painful lessons every few generations. In case some of you hadn’t noticed, class is now in session.
History proves that EVERY house of cards eventually comes down. And the higher the card house, the harder the fall when it finally comes. And when it does, the more freedoms we will voluntarily surrender to “restore order.” It was the Founders’ concern about this historically valid problem which prompted their attempt — now ignored — to keep American “money” sound and honest.)
And I certainly recognize that NO system of commodity backed paper “money” is foolproof (and we now seem to be led by some of history’s biggest fools) how’s the current UNBACKED system working out for you?
Dick Bachert 1998
***************
2009 UPDATE:
I have noted with interest that I have lately been getting far, far fewer flames from the paper money lovers out there. And when, over 2 years ago, I began ranting about the incredibly stupid financial devices (derivatives, mortgage backed securities, etc.) being created to hoodwink the greater fools out there who were snapping up these things, I could count on about half the responders to tell me I was too simple-minded to understand these highly complicated financial “products.” I guess all those really bright financial guys are too busy now washing car windows at traffic lights to post here.
And I’d ask you to consider that when gold and silver come up in the news, the talking heads fall into the old, establishment fostered trap of measuring the precious metals in the rapidly failing paper when they SHOULD remark that it is the metals that are – within the narrow confines of fluctuations caused by their uses as industrial commodities – holding THEIR value and it is the paper that is INFLATING. (The classic example is that around 1900, one could buy a fine man’s suit for one ounce of gold. YOU STILL CAN!!!)
A fiat money system of the sort we are now painfully watching collapse creates a FALSE world of FALSE feelings of well-being and elevated lifestyles. During the expansion phase of such a system, those living under it spend or borrow more than they should, have more children than they can afford and, at the national level, come to believe they can afford to allow a score of millions of illegals to come here for educations, welfare payments, medical care, etc. They reject the immutable and universal economic realities and embrace what my old friend, the late Tupper Saussy, called “the IDEASPHERE.”
Now that the inevitable economic catastrophe is upon us, how much fun is it to watch the idiots in congress who triggered this thing scramble for cover by blaming everyone else? Not much!
The only folks who feel good now are the Hank Paulsons and Obamaites of the world who are in the process of conducting what may prove to be one of the largest raids on the REAL wealth of this nation – our labor and real property – ever witnessed.
And I’ll readily concede that while a precious metals backed money system ain’t perfect, ASK YOURSELF HOW THE FIAT MONEY SYSTEM NOW COLLAPSING ALL AROUND US HAS BEEN WORKING FOR YA’?
“Liberty lies in the hearts of men and women; if it dies there, no constitution, no law, no court can save it.” — Judge Learned Hand, 1944
DB 3/2009
* * * * * * * *