I am more than a little dismayed and consistently amazed that people don't understand the workings of the Federal Reserve (Fed). I am even more amazed and astonished – floored, to be precise – that most could care less. Why would anyone willingly give another the money out of their pocket so that the organization could turn around and loan it back to them at interest? But that's exactly what the Fed does.
Since the Fed is a PRIVATE organization, one would think the conflict of interest that exists when a for-profit, private organization can set the interest rate on the American dollar (from which they profit) would be readily apparent. But America is mute, dumb and blind. Riddle me this Batman – if the Fed attaches interest to every dollar printed, how can we ever be a debt-free nation?
None dare perceive the connection between the Fed and the IRS. The IRS is the collection agency for the Fed. People don't realize that 100% of their federal income tax goes to pay interest to the Fed on the debt. Most, if not all people, believe their taxes go to who knows what - fixing the roads, etc. But that's not the case. Really, in simple terms, if we get rid of the Fed, there is no need for the IRS, and subsequently no need for a federal income tax - we save money all around.
Congress could end the Fed with a simple vote, and immediately eliminate the majority of the United States debt – that’s a fact – just by ending the Fed. They could further reduce the debt by eliminating the IRS, and would be returning the income tax to the individual’s personal income. What a boon to the American taxpayer! But no U.S. representative will even consider this. Why? Perhaps it’s because the banks that make up the Fed contribute to their campaigns?
Lastly, I'm amazed that people don't understand the idea of sound money, or see / understand how much the Federal Reserve is against it. One thing all of the presidents assassinated in the United States have in common is their hatred for a national bank / central bank.
1) Andrew Jackson hated the very idea of a national bank, and helped to kill the charter of the First Bank of the United States in 1811. Foreign banking interests tried again in 1816 - Jackson withdrew all federal funds in 1832 in an attempt to stop the charter of the bank in 1836. There was an attempt on his life that left him severely wounded in 1834.
2) Lincoln refused to pay international bankers extremely high interest rates during the civil war, and ordered the printing of government bonds. Lincoln said, "The banking powers are more despotic than a monarchy, more insolent than autocracy, more selfish than bureaucracy. They denounce as public enemies all who question their methods or throw light upon their crimes. I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at my rear is my greatest foe."
3) James Garfield became president in 1881, and was dedicated to restoring the right of the Federal Government to issue money.
4) William McKinley was completely against central banking, and would have never allowed passage of the Federal Reserve Act. He was assassinated in 1901, paving the way for Woodrow Wilson to sign the Act into law in 1913.
5) John F. Kennedy was virulently opposed to the Federal Reserve. He began the process of putting silver certificates back into circulation. Additionally, he was intent on pulling American Troops out of Vietnam. History has shown that the biggest profitable enterprise for any central bank is to go to war. Central banks of been funding both sides of wars for ages - Vietnam was no different.
6) Ronald Reagan was opposed to a private national bank (i.e., the Federal Reserve), and in 1981 an attempt was made on his life.
This country can no longer afford to live in such ignorance of history, as it is clear that those who do not know history are doomed to repeat it. We are not at the edge of the cliff – we are already falling down the other side. As a Safety Professional I can say with assurance that the fall never killed anyone - it was the sudden stop. America is heading for a sudden stop, and the ramifications and consequences are severe and significant.