Fed Up With the Fed

“The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson.” — FDR letter to Colonel Edward House, Nov. 21, 1933

The federal reserve system was created by bankers for bankers. The Federal Reserve Act, then known as the Currency Bill, was signed into law after passing the House and Senate in late December 1913. The name, the Fed, is a carefully constructed lie, designed to make the bank appear to be a government entity, but it is not. It is a private bank owned by private shareholders for their private profit with a charter that allows them to print the public’s money out of thin air. The Fed is a privately controlled central bank lending money to the government at interest, money that it prints out of nothing.

The Creature from Jekyll Island tells the story of the Fed's creation.

G. Edward Griffin: What happened is the banks decided that since there was going to be legislation anyway to control their industry, that they wouldn’t just sit back and wait and see what happened and cross their fingers that it would be OK. They decided to do what so many cartels do today: they decided to take the lead. And they would be the ones calling for regulations and reform.

They like the word “reform.” The American people are suckers for the word “reform.” You just put that into any corrupt piece of legislation, call it “reform” and people say “Oh, I’m all for ‘reform,'” and so they vote for it or accept it.

So that’s what they were doing. They decided, “We will ‘reform’ our own industry.” In other words, “We will create a cartel and we will give the cartel the power of government. We’ll take our cartel agreement so we can self-regulate to our advantage and we’ll call it ‘The Federal Reserve Act.’ And then we’ll take this cartel agreement to Washington and convince those idiots there to pass it into law.”

And that basically was the strategy. It was a brilliant strategy. Of course we see it happening all the time, certainly in our own day today we see the same thing happened in other cartelized industries. Right now we’re watching it unfold in the field of healthcare, but at that time it was banking, alright?

And so the banking cartel wrote their own rules and regulations, called it “The Federal Reserve Act,” got it passed into law, and it was very much to their liking because they wrote it. And in essence what they had created was a set of rules that made it possible for themselves to regulate their industry, but they went even beyond that. In fact, it’s clear to me when I was reading their letters and their conversation at the time, and the debates, that they never dreamed that Congress would go along and also give them the right to issue the nation’s money supply. Not only were they now going to regulate their own industry, which is what they started out as wanting to do, but they got this incredible gift that they didn’t dream would be given to them (although they were negotiating for it), and that was that Congress gave them the authority to issue the nation’s money. Congress gave away the sovereign right to issue the nation’s money to the private banks.

And so all of this was in The Federal Reserve Act, and the American people were joyous because they were told, and they were convinced, that this was finally a means of controlling this big creature from Jekyll Island.

https://www.corbettreport.com/interview-794-g-edward-griffin-unmasks-the...

Those that control the money, control everything. This truth has never been more evident than it is today in this country, all due to the banking system’s control of all money and politics for the past 106 consecutive years. This criminal cartel has laid waste to any free market system of money, and monopolized the entirety of the fraudulent centrally planned monetary system of the United States. All this was done in their own interest, and at the expense of the general population. As mentioned above, the American citizen has allowed his slavery to this system, and that slavery is still in place today.

The common man has no concept whatsoever of the true reality of money. This of course is by design, as the monetary process in the U.S. has been structured and presented in such a way as to make it seem extremely complicated, and outside the understanding of the dumbed-down public-schooled population. Most think that money are those assets in their bank and investment accounts, while in fact, over 90% of the entire money supply is created out of thin air by the private banks that control the supply of money in the U.S. This fake money is created, loaned out, and then payable back to these same banks with interest. These are not dollars that were deposited by others; it is simply nothing that turns into money for the banks for free. A scheme at this level of corruption is pure genius so long as the general population remains in a state of unmitigated ignorance.
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The criminal banking cartel created the Federal Reserve, wrote its own rules, and Congress went along, and it became law. The banking magnates now regulate their own industry, have no oversight whatsoever, and have the “legal” authority to issue and fully control the entire monetary system due to their monopoly on the production of money. The conspiracy of the participants in this powerful money cartel called the Federal Reserve is fully evident with only a modicum of research, and is much deeper than can be presented here in this short article. The entirety of the Federal Reserve, including all those presidential appointees, the banking heads, the politicians, and those controlling elites behind the scenes, all collude for personal profit and power. This is appalling, and can only exist with the consent of the masses at large, those who have now apparently lost all ability to think.

This is a stacked deck, and one that benefits only the controlling class in banking, and works against the American public. The Fed is the facilitator of torture, war, and conquest because it is the supplier of money for all the horrendous activities of this terroristic government. It enriches the few in the elite class with money and power, all at the expense of the rest of society. This is corruption writ large, and it will not end until the Federal Reserve is abolished.

“Give me control of a nation’s money and I care not who makes it’s laws” ~ Mayer Amschel Bauer Rothschild

https://www.lewrockwell.com/2019/12/gary-d-barnett/the-federal-reserve-i...

Excellent history of US currency and the Fed
https://www.truthcontrol.com/federal-reserve-guide

The Fed:

1951
The Treasury Accord was an agreement put in place between the US Treasury and the Fed that assured the Federal Reserve would remain an independent entity.

1963
Like Lincoln 100 years earlier, Kennedy authorizes the Treasury to issue its own money outside of international banker control...
Like Lincoln, Kennedy is also assassinated.
Much more at the history link above...

First of all, like a Ponzi scheme, it began with a lie concocted solely to suck in its intended victims — the promise to regulate the US economy such that economic booms and busts would be eliminated. In truth the opposite has been the case since the passage of the Federal Reserve Act in 1913. In fact, the Fed actually played a role in bringing about the Depression of 1929 and the deep recession which presently grips the nation.

Secondly, similar to a Ponzi scheme, the Fed takes our money and gives us nothing in return. The money we give to the Fed is not earned for any service it provides, nor is there any reasonable justification for us to give it to them.

Finally, similar to a Ponzi scheme, the eventual collapse of our economy is inevitable and when it does, the people of this nation will lose, not just their investments, but everything. Presently, we are experiencing the beginnings of this collapse and despite what Washington and the media tell us about a recovery, none will ever come unless we get out from under the Fed and its whirlpool of debt and inflation.

https://globalpossibilities.org/the-federal-reserve-is-a-ponzi-scheme/

The Fed loses nothing and gains:

• The real value of all loans made.
• The real interest on all loans made.
• Enough money to corrupt the entire world and establish itself as its ruler.

Congress loses nothing and gains:

• The elimination of one of its most important functions.
• All the money it wants to do everything it wants without control or restraint.

We the people gain nothing but lose:

• The loan payments made to the Fed by our government.
• The interest paid on Fed loans by our government.
• The value of the money we keep through inflation.
• The income tax we pay our government.
• Control of Congress because of its unlimited source of funds.
• The added cost of an incompetent government.
• The benefits to society a competent government brings.
• A government which serve us and no one else.
• Our rights, our freedom, and our future well being.

https://www.peakprosperity.com/forum-topic/the-fed-is-a-ponzi-scheme/

The best description which applies to the Fed is that it is a money pump for those who own it and this enables these people to harvest huge amounts of money from working Americans without giving them anything in return. In other words, the Federal Reserve Bank is a racket far worse than a Ponzi scheme or Mafia created con game. However, the tragedy of our situation is that the Fed is racket which Congress made legal by voting it into existence.

https://wakeup-world.com/2015/08/02/the-federal-reserve-bank-100-years-o...

“Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars to accounts on their books in exchange for a borrower’s IOU.[…]Banks create money by ‘monetizing’ the private debts of businesses and individuals. That is, they create amounts of money against the value of those IOUs.”

The vast majority of money in the economy, the “checkbook” money in our accounts at the bank and that we use in our electronic transfers and digital payments, is created not by a government printing press, but by the bank itself. It is created out of thin air as debt, owed back to the bank that created it at interest. This means that bank loans are not money taken from other bank depositors, but new money simply conjured into existence and placed into your account. And the bank is able to create much more money than it has cash to back up those deposits.

The Fed claims to be the entity overseeing and backing up the banking industry. It was established, according to its own propaganda, to stabilize the system and prevent bank runs like the Panic of 1907 from happening again.

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According to the Fed, “its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.”

Or, in the words of Alan Greenspan: “The Federal Reserve is an independent agency, and that means there is no other agency of government that can overrule actions that we take.”

https://www.corbettreport.com/federalreserve/
(excellent link)

It shows that when the pandemic broke out, the Fed still held trillions of dollars’ worth of assets purchased in the aftermath of the 2008 financial crisis.

The central bank has since resumed buying assets at a pace of about $120 billion each month, split between Treasury debt TMUBMUSD10Y, 1.299% and agency mortgage-backed securities MBB, -0.11%. At last check, the Fed held about $5.2 trillion of Treasury securities and $2.3 trillion in agency mortgage debt.

In terms of scope, the Fed owned about 22% of all Treasury securities outstanding at the end of 2020, compared with 14% at the end of 2019, despite the fact that the overall size of the Treasury market increased by $4.3 trillion in 2020 due to pandemic-related spending, according to Rehling.

Fed officials recently have expressed mixed views on its monthly asset purchases. New York Federal Reserve President John Williams told reporters Monday that conditions for scaling back its $120 billion-a-month bond-buying stimulus program have yet to be met.

https://www.marketwatch.com/story/why-the-feds-balance-sheet-is-expected...

Explaining the Fed and up coming debt ceiling crisis

Congress officially went on recess without addressing the expiring debt ceiling suspension. As of August 1, the Treasury has been forced into engaging in "extraordinary measures" in order to continue funding federal expenses despite the income from borrowing disappearing. Depending on how long this lasts until Congress agrees to a solution, the consequences may soon become severe.

In the first few minutes he explains how the Fed is buying US debt and mortgages. They create currency (which pays them interest) to give to middle men banks (like Blackrock). They buy the toxic bonds and debt because the Fed isn't allowed to directly purchase them. These middle men banks in turn sell the newly purchased debt to the Fed (with interest), and everyone scrapes their share of profit from the citizenry.

Additionally they take their profit and buy their own stock padding the CEO's and CFO's compensation package...driving the market ever higher.

Morgan Stanley and Wells Fargo Inc. are among the nation’s biggest lenders that signaled this week they’re stepping up repurchases and raising dividends after passing Federal Reserve stress tests with flying colors.

Banks are joining the party after buybacks rose sharply in the first three months of the year, capping several quarters of gains following a pandemic-related dip in 2020. The moves bode well for stocks since buybacks are a direct way to boost share prices and companies are flush with cash as the U.S. economy rebounds from a year of lockdowns.

“We think that buybacks will exceed all-time highs,” said Scott Ladner, chief investment officer at Horizon Investments LLC. In the first three months of 2021, companies in the S&P 500 spent $171.5 billion on stock repurchases, according to data compiled by Bloomberg Intelligence.
...

So far, tech companies have been the biggest buyers. In the first three months of the year, the information technology sector accounted for nearly a third of buybacks, led by Apple Inc. But now banks -- more than a decade on from the financial crisis and poised to benefit if interest rates rise -- are stepping up their repurchases.

https://www.bloomberg.com/news/articles/2021-07-03/corporate-buybacks-ga...

Federal Reserve Banks are set up like private corporations. Member banks hold stock in the Federal Reserve Banks and earn dividends. Holding this stock does not carry with it the control and financial interest given to holders of common stock in for-profit organizations. The stock may not be sold or pledged as collateral for loans. Member banks also appoint six of the nine members of each Bank's board of directors.

https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve...

The Fed isn't achieving its goals of employment nor inflation control, but they are maximizing bank profits. In next week's column I want to continue this discussion by exploring the ramifications of our exit from a gold based currency fifty years ago. As I put this piece together, I couldn't help but think of the similarities between the Fed and the CIA. Both are secret, unaccountable agencies which answer only to themselves. The game is rigged, and it isn't a surprise, but the degree to which we're being conned never fails to astound me. Here's hoping you're secure in your corner of the world, and your life is rich with friendship, health, and happiness ... the real measures of wealth in my opinion. I look forward to your ideas, comments, and thoughts below.

Give me the simple life...

Pete has long been a favorite and his sense of justice is strong.

Have a lovely Sunday!