Mourning 100 Years of Usury under The Fed
United States Federal Reserve Board%2C 1917
(image by Wikipedia)
December 23 marks the tragic 100th anniversary of the private Federal Reserve System, when the U.S. government gave to a private banking cartel that which no government has the right to give away--the sovereign right of a people to create and control their own money, the very lifeblood of a free and independent people.
"The Congress shall have The Power To...coin Money...", Article 1, Section 8, U.S. Constitution.
Contrary to what most Americans think, the Federal Reserve System is not a part of the U.S. government. Rather it is network of private banking corporations, wholly controlled by a handful of Wall Street mega "too big to fail" banking corporations. Anyone doubting their absolute power should hearken to Assistant Senate Majority Leader Dick Durbin of Illinois 2009 statement following the financial crash and the inability of Congress to regulate these banking corporations, "frankly they (banks) own the place (Capital Hill)."
The Federal Reserve System was the secret brainchild of the Rockefeller, Morgan and Rothschild banking families. It was drawn up in a secret meeting at Jekyll Island, Georgia in 1910 and the only way that it was able to be voted into law was for the Rockefeller/Morgan/Rothschild banking corporations and their toxic legislative representative, Senator Nelson Aldrich, the very ones that secretly conceived the system to then publicly oppose it. Thus convincing the American people, their hapless dupes in Congress and President Wilson that it was some sort of banking reform.
The Federal Reserve System is the legal embodiment of a monetary system that creates the nation's lifeblood (our money) out of thin air as debt. True, The Fed is required to return the interest The Fed accrues on the funds they conjure up out of thin air; but the private banking corporations that own The Fed, use these same funds to justify the loans they make and these same private banking corporations then get to keep the interest they charge the 99% on our credit card debt, mortgage loans, car loans, student loans etc. It is a system of usury designed for the rich to get richer, while making debt slaves of the 99%.
See "Occupying The NEED Act" http://www.intrepidreport.com/archives/11626
for a more detailed discussion of the U.S. monetary system.
Watch this short video as ten year old Holly explains the U.K.'s monetary system, which is basically the same as ours. Just substitute "Federal Reserve System" for the Bank of England and "Wall Street private banking corporations" for High Street banks.
Five years ago the outrageous speculation and creation of toxic financial instruments by the "too big to fail" banking corporations that completely control the entire Federal Reserve System resulted in a browbeaten Congress voting $700 billion to bail-out these functionally bankrupt banking corporations. Unknown to the American people was that the secret Federal Reserve System over the next few years provided another $16 trillion in funds to these same banking corporations and others to pump up the bubble that had burst on the 99% in Sept of 2008. We the people only found out about this secret gift from the Federal Reserve System to the very banking corporations that own and control this same Federal Reserve System because Sen. Bernie Sanders was able to attach a rider on the Dodd/Frank "financial reform bill". It remains the only public audit of The Fed in its 100 year history.
The Fed continues to bail-out its banking corporations with monthly gifts of $85 billion used to buy bonds and the toxic financial instruments created by these behemoth banking corporations. To date almost $4 trillion has been gifted to the "banksters" of Wall Street via this process known as "quantitative easing" (QE).
Arrayed against this plenary power of private banking corporations to create our money supply are the American people, aka the working class. The Occupy Movement said "we are the 99%" and by bravely occupying public spaces in every major city in the country in 2011 was successful in bringing to the national media a word never before allowed to be uttered--inequality.
The 100th anniversary of the Fed is marked by a nation in crisis. A crisis that cannot be resolved by austerity, sequestration, government shutdowns or cutting unemployment insurance without providing jobs for those out of work. The $17 trillion federal debt cannot be paid off under this system. State and local governments will continue to be unable to pay off their $3 trillion in debt under this system. Citizens will be unable to pay off their $16 trillion in mortgage and personal debt under this system. This is a system designed to put the 99% into debt slavery to the "too big to fail" private banking corporations. It is not broken, but rather doing exactly what it is designed to do.
Our country, founded on the statement "all men are created equal", is now the most unequal industrial democracy on earth, indeed more unequal than many Third World countries. UNICEF ranks us last among 24 industrial democracies in childhood poverty and the Organization for Economic Cooperation and Development ranks us 28th of 30 member countries in inequality and poverty, trailing only Turkey and Mexico.