Finally, was Congress EVER empowered to charge interest on money created? Of course they can borrow money at interest and repay the lenders as agreed.
BUT, can they charge us interest on money created?
///Is the Federal Reserve a Cartel (defined below)? Is the Jekyll Island account true? ?
The Fed. loaned two trillion and will not disclose to whom. Where did they get it to loan. We need to get rid of the Fed. and go back to the gold standard when our money was actually backed by something other than the word of Congress. That's almost funny. The word of Congress.
http://search.yahoo.com/search?p=Fed+loa鈥?/a>
Bertie Charles Forbes, founder of Forbes Magazine:
Picture a party of the nation's greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily riding hundred of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned, lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance. I am not romancing; I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written... The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done. Senator Aldrich notified each one to go quietly into a private car of which the railroad had received orders to draw up on an unfrequented platform. Off the party set. New York's ubiquitous reporters had been foiled... Nelso (Aldrich) had confided to Henry, Frank, Paul and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank and Henry... Warburg is the link that binds the Aldrich system and the present system together. He more than any one man has made the system possible as a working reality.
-- I don't know about the credibility of that quote. I looked up Jekyll Island on Wiki, lol.
But yes, it's a cartel. It's no different than a drug business, or prostitution, or weapons. The only difference is they have a different product - money itself.Is the Federal Reserve a Cartel (defined below)? Is the Jekyll Island account true? ?
Congress has a constitutional mandate to coin and regulate money so it is possible to charge interest on it. The real question is why does the federal government borrow its own money with interest? The answer is that they aren't really in control of our nation's currency, the pseudo-federal entity, the Federal Reserve is
The Federal Reserve or The Banks no longer at this time hold or wield the power of reins they did prior to the advent of the present financial fiasco. Implications of an involvement in the collapse of the world bank towers, aka 9/11 is the main point of contention holding this otherwise formidably powerful cartel to ransom. Allegedly.
No - the Federal Reserve Banks could not be described as a cartel as they do actually work under the direction of the government appointed Federal reserve board of Governors.
The claim about the act is pure fiction. The Federal Reserve Act was passed in the senate on Dec 23 1913 by 43 votes to 25 with 27 abstentions.
The FRA defines the powers of the bank and is the law by which the Fed is empowered.
http://en.wikipedia.org/wiki/Federal_Res鈥?/a>
Sounds right.
End the Fed day is November 22 at a Federal Reserve branch near you.
http://www.endthefed.us/
I don't claim to be up on the subject, but I've always thought it was a synthetic and unnecessary measure that made no sense in a country that was going well enough on the gold standard, but I'll bet that somebody make a bundle on the deal, and I'll bet it was someone in Congress. Like that would be a surprise.
And, of course, that arrangement makes it possible for them to tinker with the purely voluntary rate of inflation, which they present to us as if it were a natural force when, in fact, it results from the government printing fiat currency for which it has no gold backing. So, we owe the current weakness of the dollar to the Federal Reserve, and the goons running it.
Doesn't anyone but me think it's time to put it out of business? If you don't, maybe you should do a little more research.
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