That said it is not a government institution or managed by government officials, but a private corporation operating in secret for profit and setting economic, foreign and trade policies for the United States beyond the purview or scrutiny of the US Congress or the American people. While Professor Greenspan presents himself before the Congressional banking committee, he speaks in a language few understand and actually deliberately says very little. The reliance of M1 and M2 in your daily lives seems nonessential and as long as interest rates remain low the Fed seems to be doing its job. It might surprise many Americans to learn that in fact in the aggregate the ownership of the alleged "US" Fed is actually foreign. The money changers did not leave the Temple for long and despite the best efforts of "Rocky and Bullwinkle" and other American heroes foreign control groups have taken root. Patriots like Jefferson and McFadden, et al, spoke out vociferously against both the creation of the Fed and its proposed policies. Yet for the last 90 years through graft, bribes, corruption, and assassinations, the Fed has remained open for business controlling not only the credit and currency of the United States but in many cases the direction and trade and foreign policies of our Nation.
The Fed is the Federal Reserve Bank Note printing office at the center of the American consumption economy. You do not own the money in your pocket, it belongs to the Fed, not you or the US Government for that matter. The so-called "US" dollar is in reality a Fed bank note owned by a private corporation merely guaranteed by the US Government -- meaning you and the tax revenue you pay each year. It is no coincidence that some ninety years ago in that same year 1913 the Internal Revenue Service "IRS" was born of the same father. For the honor of being the sole private entity to print the bank notes you lease as currency and a means of exchange the Fed charges you interest for that privilege. You might have heard of the technical term used to define the amount of borrowings, interest and principle you pay through your tax revenues -- its called the "National debt." In actuality there is no National debt, merely a scheme of vipers to control the US economy first and then a new world economy. You have heard the terms, like "new world order", et cetera, which are somehow supposed to connote a new era of world cooperation and commerce.
In reality however its about capital flows and capital seems to go in the direction of cheap labor, steep learning curves, lax environmental standards and corrupt politicians. The phenomenon has even hit China whereas capital flows are now moving inland to find even cheaper labor and materials. What most of my fellow Americans have not figured out yet is that those capital flows in Fed bank note dollars have a cost well beyond unemployment, inflation, deflation growth or recession. Every Fed bank note which goes overseas to build an Italian widget factory in China is actually subsidized by you the American taxpayer. You are actually leasing those Fed bank notes and paying interest and principle for every single one of those Fed bank note dollars sent to China. The widgets produced by the factory then end up on American store shelves selling at a price which is perceived well below the cost to produce the same item in the US. But the actual cost of that item taking into account the accruing principle and interest you owe to the Fed is likely multiples of the perceived widget sales price.
There is no justification for it, the money you use as a means of exchange should be free for every American to use as a currency of the United States, but it is not. Likewise the American people should decide for themselves if they wish to build a widget factory in China with their tax dollars and not some mysterious foreign bankers who then put the cost the entire venture on the ledger of the American people. Me thinks the American people would prefer to build factories and schools right here in the US of A, unless of course that includes ebbing the flow of cheap goods from the selves of Wal-Mart which may result in mass rioting.
The thought of depriving child labor and salve labor the opportunity to work on the assembly line is likely an anathema if that also includes denying Americans the right to buy a $1 tee-shirt in an American retail outlet. Like a drug dealer the Fed has you hooked on cheap goods that are perceived to be inexpensive or free at first when in realty the costs of those goods on economic and moral grounds are very high in deed. That is why it is disingenuous for people like representative Gephardt to discuss trade or employment issues without discussing the Fed. As Fed policies obtain and are predicated on Fed directed capital flows not the political speak of Mr. Gephardt.
A few years ago President Clinton and Vice President Gore took a few bold steps to reduce the debt burden on the American people. While they did not go far enough and eliminate the Fed entirely they do deserve credit for taming the debt beast. Under President Bush the Fed debt has again become so unruly that now foreign "investors" are needed to infuse hundreds of billions of dollars every month to keep the system in balance.
America has again become a debtor nation which cannot finance its own "perceived" National debt or trade. Perceived because it is actually the Feds debt not yours and they should be responsible to pay it. The American people should not accept the fact that the Fed has saddled them with the enormous trading debt of a private corporation and for printing and using the US dollar. President Bush received some criticism recently with respect to Taiwan (Formosa) warning the Island not to seek to declare independence from China via a planned referendum. The President on that call had the best interests of America and the Fed at heart.
Currently China is almost single-handedly financing the Fed's trade business buying up huge amounts of US Treasuries. That said the Chinese have made noise recently that "they" cannot continue to buy US securities at the current level or rates of return -- translation: interest rates are going up. While the Fed has been selling repurchase agreements to finance purchases of the S&P Index to prop-up the market its intervention is not sustainable. In a recent financial industry report more than eight billion dollars have been moved out of the market in a recent week meaning that individual investors are still heading in the other direction -- a dilemma for the Fed and the trade sensitive dollar. Keeping that in mind as short and long interest rates rise in 2004 the European Central Banks are likely to move in tandem to maintain their current hegemony over US markets and the dollar.
To put all this in perspective, foreign countries are currently financing US trade through their dollar purchases of US Treasuries, which not coincidently, are also "full faith and credit" instruments of the US Government meaning that in reality you the American taxpayer are financing the Fed borrowings necessary to pay the interest on US Treasuries sold to foreign countries to pay for the trade imbalances. But wait a minute the Fed is also the operating private entity which is owed the National debt and also the entity authorized to issue the very same currency which is guaranteeing foreign trade, which is used to buy US Treasuries which are denominated in the same currency you pay interest for, which supports the trade imbalance through he issuance of new currency which you pay interest on, which contributes to and also pays the interest on the National debt, and so on, and so on. We in America have become Sisyphus and as slaves to the beast continually roll an oblong rock of debt up an endless hill of interest.
Naturally when the interests of the Fed conflict with those of the US Government or the American people the interests of the Fed prevail. This is not a new concept and was likely best exemplified in October 1929 when the Fed's deliberate actions precipitated the 1929 market crash and the Great Depression through control of the money supply and capital liquidity or the lack thereof. In the years just prior to and just after the 1929 market crash the Zionist Fed's capital and gold flows headed across the Atlantic to finance Germany and its military industrial complex. The paper and notes issued by the Fed to back international commerce in Europe, Asia and South America in US dollars were called in for payment by the Bank of England, et al, which controlled the major trading hubs of that period.
The only recourse for the Fed then was to print dollars to send them overseas to pay for the debt which the American people did not create, but were then too ignorant to term. Today we have become eminently more sophisticated regardless of the fact we toil in the same manner as we are keen enough now to be able to define the phenomenon as the "trade deficit." What you may have missed is that with the stroke of the pen the American taxpayer was saddled with the Fed's foreign debt and Britannia again ruled the waves. American patriots and 1776 not withstanding the Revolutionary War was decided centuries after it was fought. This is a very old story for Biblical and Torah scholars it goes back to Christ and even before that recorded history to Kannan and Abel (a "type" of Christ, hence the name), whereas the carnage and brand of Kannan continues in the land of Kannan to this very day.
It may be time to give back to Caesar what belongs to Caesar and replace the Fed system with a new monetary system backed by something tangible say for the sweat and toil pouring off the backs of the American public. Some years ago a proposal was made by President Kennedy to again issue a currency of the United States backed by silver.
While the untimely death of our American patriot president prevented the implementation of that plan, the plan itself was limited to only the proposed "new" one dollar and two dollars bills respectively which were actually printed by the US Treasury but never brought into circulation. It has again become "necessary in the course of human events" when free men and women must issue a "new" and sovereign American silver backed currency. In fact it may be our only hope. It would certainly be a fine tribute to one of the finest presidents in our history to put President Kennedy's picture on a new sovereign currency of the United States of America -- say a new silver backed US twenty dollar bill. So that "we the people" may gain control of our own country, our own economy, our own future and our own destiny, the destruction of the Fed and its money is essential. No more inflation or deflation, no more ad hoc monetary or trade policy for the benefit of foreign interests or the interests of a private corporation and its shareholders. No more National debt or the need to raise public money in the public markets to pay the Fed interest to print our money.
Just prior to the Iraq war a plan was floated to create a hybrid dollar/euro currency exclusively for oil transactions. The plan was set forth to preclude replacement of the petro-dollar by the euro as the currency of choice for oil transactions and provide time to fix the dollar problems caused by inane Fed actions.
The plan was fanatically opposed by the foreign owners of the Zionist Fed in favor of the invasion of Iraq. Unbeknownst to many Americans, in a slap against the Zionist Fed and its American supporters, Iraq mandated that all oil sold from Iraq be priced in euros and not dollars. Remember the Fed makes a profit on every dollar in use. Notwithstanding the hyped claims of weapons of mass destruction "WMD" and other wild claims, Iraq was about oil and more importantly to the United States the pricing of oil. Remembering the infamous "domino effect" on the one hand and perceived self interests on the other, the players joined the bandwagon of perceived or common interests to topple a regime no one would miss. Each lined up for either their pound of flesh or thirteen (or 1913) pieces of silver.
Be that as it may, as for the petro-dollar it seems destined to go the way of the eight track player as the Iraq escapade does not seem able to stop that momentum or help the Fed stem the tide. The United States cannot continue to attack every country which elects to purchase or sell crude oil in euros, which one day may include OPEC, Russia and even China. Meaning that those countries would no longer find it necessary to buy US securities or keep the US dollar as a reserve currency at present levels.
The Fed strategy of clinging to the petro-dollar as an artificial basis to prop-up the dollar has not worked despite the fact that oil prices have remained near the $30 level. Not coincidently OPEC, Russia and China have been increasing their euro reserves recently. It would have been better if President Bush stayed on the constant "economy" theme as the reasons to invade Iraq. I believe that a majority of the American public would have understood and accepted that notion. He did mention it in one speech, but thereafter the WMD issue took the forefront as did vague unsubstantiated allegations of some 9/11 connection. The President received ill advice on the political approach to war using the Pearle Harbor scenario over the truth which would have been an easier sale to the American people -- the truth usually is. The errors were compounded by the notion that America not only could but was going to build a "democracy" in Iraq, thereby preventing the inevitable Islamic Iraqi government from forming, costing in excess of $150 Billion Fed Bank Notes thus far, plus accrued interest payable by the American people for the right to use the Fed bank notes to rebuild Iraq. In human terms some 500 Americans have died and more than 10,000 have been wounded, the toll on the Iraqi population has been much much higher. But all of that is just cannon fatter to the Fed.
It may have been easier and less costly to have just mandated the hybrid dollar/euro currency but much less profitable to the Fed on the one hand and less secure for the Fed's plans for Israel on the other. In the end though not much has changed for the good as the euro is still on schedule to replace the dollar in international oil transactions as pressure is growing exponentially on oil producers in economic terms with the dollar slump taking its toll and in political terms with the US occupation of Iraq growing more brutal as the US presidential election approaches. As usual the Fed was playing its own game for its own purposes with regard to Iraq. This is a point that American officials should begin to examine more closely.
US intelligence became the laughing stock of the world community and took the blame for the lies of others having been fed morsels of false intelligence from around the globe most of it created or massaged by Israel and then sent through the now defunct Office of Special Plans at Pentagon to give it the aura of respectability. The only intelligence "outfit" easier to fool was the Italian service which thought it had the Crown Jewels -- the now infamous African "yellow-cake" connection -- again a product of a special Israeli unit. Mossad would not have made that error unless perhaps deliberate. What were the Israelis doing? They were following in lockstep with the Zionist Fed community seeking their self interest with their pound of flesh being access to relatively cheap Iraqi oil. While that does not excuse their actions it does put them in the context of a bigger picture. The Fed owners are likely the single largest supporters of Israel, not Eber per say, just the idea of Israel as the hub of a new world government seated in a new satanically inspired blasphemous third Temple in Jerusalem to be governed by a Zionist Fed appointee. The Fed owners have actually donated entire structures in Israel, financed Israel's nuclear and WMD programs and built the Israeli Supreme Court complex.
The Fed's owners have no particular affection for the Jewish people, as Zionist Fed bankers financed the Nazi's on the one hand with US gold stocks and refused Germany's ovations to deport some one million German Jews into their care on the other. So why does a tiny country like Israel get so much Fed attention and have need so many nuclear weapons and its growing variety of delivery systems rivaling the old US Triad strategy? The numbers and types of WMD in the Israeli arsenal are well beyond regional deterrent needs and speaks to a much larger issue of moving away from and beyond the US protective umbrella. Israeli land based and submarine launched nuclear missiles now threaten not just Arab capitals but the United Kingdom, Europe, Russia, China and even the United States. The idea promoted by the Zionist Fed is for Israel to maintain a world nuclear deterrent capability in order to protect the proposed hub of a new satanic world government without the US.
As for the current board of Fed governors, its open market policy making committee and even Professor Greenspan most of them are good people who have accepted the current system as students and apprentices of the Fed as a fait au compli when it is not. When the next financial crisis hits the markets remember the blame for the event lies with the Fed, not your elected officials to the extent presidents and members of Congress do not govern fiscal policy and have less influence on the direction of interest rates or the National debt than you might expect. Yet their collective inaction against the Fed system is reason enough to vote them out of office. I wonder where Mr. Dean stands on the issue of the Fed? The other candidates on the Democrat ticket have already expressed their opinions through their utter silence on the Fed issue never addressing a word towards the Fed or its workings in all of their distinguished careers.
So happy birthday Fed your 90 years old baby you deserve it.