End The Fed franklin1950: for those conspiracy tendencys then the history the federal reserve bank is deep water.  chronology: The real problem is not the 'Fed' it is 'Derivatives'. If the truth be known the world Banking system is built on fictitious money. They got into the same mess before WW2. Germany was forced to pay reparations after the WW1 and many Banks based their stock on German War Debt Bonds. Germany borrowed money from Wall Street to pay Britain and France. Britain and France then paid the U.S. their War debts with the Dollars Germany Borrowed from Wall Street, so the same money ended up back in the U.S. (accumulating on the way interest payments that went up into the ionosphere). No one knows how much profit was made lending that money that went around in circles spinning off profit after profit. The scam worked well until Britain defaulted on it's debts to Washington, then Paris, then Berlin, then the whole world. Then the world money system came crashing down.  hellbhoy: Hey Chronology I resent that comment on the UK defaulting.It is more to do with dodgy accounting all over the world .... remember ENRON dude,shadow banking and other dodgy things like Americas subprime mortgages collapse America was selling under false pretenses and I won't excuse British involvement in dodgy practices either.If you wanna blame someone blame all the stock markets all over the world they are as bad as each other. Sounds like Obama is giving the rich and powerful another tool to hide the federal reserves dodgy dealings to protect their fortunes without consequence so the poor have to pay for bigger failings in the future. chronology: hellboy. Hey "Dude" I could not care less what you resent or do not resent. If you bothered to read my Post instead of rushing onto the Thread with your nationalistic breast-beating you would see I was Posting about what happened in the 1920s, er that was before there was any such thing as Enron or the present crisis. Try doing some research, Britain defaulted first in payments of U.S. debts, then France, then Germany etc. hellbhoy: Cheers Chronology that made me look a right tit dude,my bad ha ha. I still Obamas plans for the federal reserve are devious sneaky in it's intent by watching the video though.  stephinrazin: The Federal Reserve is the greatest opposition for freedom in this country, and the single greatest danger to prosperity. I do not have time at this moment to go into it. Google fractional reserve banking. Read The Creature from Jekyll Island.( I will upload it onto my scribd/or isuu and give a link later) Here is post I on another site that I will paste real fast. 1) The Federal Reserve is a private, for-profit corporation just like Federal Express is. It's not part of the government. 2) The Federal Reserve is a cartel of banks who own a monopoly on our credit-creation mechanism and money supply. 3) The cartel is the only entity the people of the United States can turn to when we need money for commerce. 4) That money we get from the cartel is never given away, it is LOANED to us out of thin air. 5) They create their money for loans through a mechanism called "fractional reserve banking" which allows them to create counterfeit money and declare it legal tender. There is no limit on how much of this debt-money they can create. 6) The amount the cartel creates is always less than the people owe back to them, because of compound interest. 7) If there were no debt, there would be no money at all. This is because after 100 years of expanding the money supply by the fractional-reserve mechanism, the only money that exists anymore is all owed to a bank, plus interest. If we paid it all back, the banks would eat it up to zero their books out, but we would still "owe" more. 8) The national debt is not the United States owing the United States. It's the people of the United States owing the banks for fraudulent debt created out of thin air through fractional reserve banking. 9) It is numerically impossible to pay the national debt. 10) Compound interest is an exponential mathematical function, which means eventually the interest gets so large that it will be completely impossible for the population to even pay the interest on the national debt, not to mention the principal. 11) This scenario has happened before, and it always leads to hunger, crime, poverty, foreclosures, corruption, and war. 12) The last time the United States paid off its debt was under the administration of president Andrew Jackson. He understood how the banking system worked, and commented: "If the American people only understood the rank injustice of our money and banking system - there would be a revolution before morning." He paid back the debt to the Second Bank of the U.S., and denied an extension to its charter. Andrew Jackson's tombstone proudly displays the words: "I killed the bank." The truth is that no matter how how trustworthy, hard-working, talented, and reliable everybody is... somebody is going to lose their home from foreclosure or file bankruptcy. There is even a mathematical formula for it. It's like a game of musical chairs. If there are 10 people in the economy, but only 9 chairs, 1 person will be left out, no matter how hard everybody tries to stay out of financial trouble. The reason for this is that since all of our money comes from being loaned by the central bank, and they want it back (and then some) ... where does the interest come from? The answer is that the loan+interest cannot be paid back because the interest money was never created. This creates the problem. --- It can all be solved by solving 2 major fundamental flaws in our system. Get rid of compound interest and fractional reserve banking. Replace them with a public credit system where you borrow from a public bank at zero interest, only paying a fee to process the paperwork. It would be like borrowing a book from a public library. Our "credit scores" would cease to be mysterious and would have meaning in the new system because it would all be public. Private banks have profited and been parasites on the working people of the world for far too long. franklin1950: the financial and taxation systems remind me of a poker game where the house takes a percentage of every pot . eventually inevitably all the money on the table will end up with the house. as long as new players joint the game or those currently playing continued by refreshing their buy in the game continues . why the unending number of players? its the only game in town . credit available ...... at the going rate | Politics Chat Room 71 People Chatting Similar Conversations |
