"So long as I know it not, it hurteth me not."
Several Rothschild-controlled centuries later, what Americans don't know about "the Fed" may be fatal.
The Fed gained control of America's money in 1913. Government debt now soars toward $17 trillion. Interest paid to service this debt, for the year 2011 alone, was $454,393,280,417.03, largely funneled by the Fed to eight international banking families:
Ever heard a better argument for entitlement reform?
Rothschild wealth alone is estimated at $500 trillion.
No matter how many times former Fed Chairman Alan Greenspan and others remind us that the Fed is an untouchable independent agency, people like to believe what they want to believe, regardless.
An image problem with our country's first two Rothschild-controlled central banks was transparency of the name, "U.S. Central bank", or "BUS" (Bank of the United States).
Our current "Federal Reserve System"...now there's a name with enough mojo to span a century, and even juice Congress into re-chartering the Fed for another 100 years (to 2113). MSM went totally mild.
In terms of persona, the Fed is Bela Lugosi. Spooky, deadly-secretive, omniscient, riveting...the Fed sounds like part of the federal government, sounds backed with reserves...a "system" instead of a bank--all a fiendishly-charming triple play. When the Fed walks into the room, heads turn. When the Fed controls a superpower's money, heads roll.
Dollars From Thin Air
A dominant way to bank dollars from thin air is the Federal Reserve System's entitlement.
For instance, to circulate another billion dollars of fiat currency, our government does not print debt-free U.S. Treasury Notes, as mandated in the Constitution. Instead, a billion dollars of debt (Treasury bonds) are given to the Fed, who then creates from nothing a billion dollars in Federal Reserve Notes and loans them to the government at compound interest. Whether it's currency, or digits on a computer screen, by creating money this way, the amount of debt created is always more than the dollars created, leaving no way for the debt to ever be paid off.
Entitlements are one thing; the Fed's exclusive dollar monopoly seems otherworldly. Could there be a greater entitlement than ownership of the dollar with accountability to no one?