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The President and Congress - Riding the "Gravy Train"

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The 1% got a delicious, juicy, gravy train to ride on, but not enough seats were left over on that train for the 99%.

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President Barack Obama and Federal Reserve Chairman Ben Bernanke - the president does not have to "borrow" more money from and pay interest to the Federal Reserve System (an exclusive banking cartel).

The president can simply order the Treasury, by Executive Order, to start printing up debt-free United States Notes, and use that sovereign money, backed up by the American people, not the bankers at the Federal Reserve, to pay the bills, thereby bypassing the Federal Reserve System's interest bearing and debt laden Federal Reserve Notes.

Congress, instead of spending by borrowing all that money from the Federal Reserve at interest (ever since the 1913 creation of the Creature From Jekyll Island), could revoke the Federal Reserve System's power to print money, set interest rates, and make interest loans to the Federal government for their massive, perpetual national debt spending (1 billion 1913/16 trillion 2013) over the years.

However, it is far easier for the president and congress to borrow money at interest from the Fed, rather than to stop all the borrowing (which would end the national debt owed to the Federal Reserve System) from the Fed and print-up and spend United States debt-free sovereign money (United States Notes), and thereby having to raise taxes to pay for all the wars and all their other spending - the president and congress would then have to justify every single United States Note (real money of the American people and not the fiat money of the Fed) they spend, and also have to face angry voters and irate corporate chieftains, totally upset at all their frivolous spending, and risk getting voted out of office.

As it is now (since 1913 onward), they (the 1%) got a delicious, juicy, "gravy train" (easy to just borrow money from and pay interest to the Federal Reserve and kick the national debt plunder of the American people "down the road") to ride on, but no seats are left over on that train for the (99%).

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Lance Ciepiela is a retired senior who had an interesting career in government service - a United States Marine Corps (USMC) Vietnam-Era veteran, who became interested in restoring the Constitution after I realized that W Bush had attacked Iraq (more...)
 

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Back in 1969, 95 percent of all men between the a... by Lance Ciepiela on Friday, Dec 7, 2012 at 3:59:37 PM
The less than 1% international banksters and corpo... by Steven G. Erickson on Monday, Dec 10, 2012 at 2:27:55 PM
Your excellent Diary - Yes, Jesse Ventura, fearles... by Lance Ciepiela on Tuesday, Dec 11, 2012 at 7:52:59 AM
The Federal ReserveThe money powers prey upon the ... by Lance Ciepiela on Tuesday, Dec 11, 2012 at 4:51:04 AM