Nationalize The Fed – Take Back our Central Bank
"Nationalize the Federal Reserve, place it within the Treasury and use the greenback mechanism to fund infrastructure improvement and repair... Remove the privilege banks have to create money. Only government should have this power.
"The Banking system is the principal cause of social evil in the United States."
William Gauge, 1833
As the recent meldown in mortgage finance illustrates, the banking system is indeed the principal cause of social evil and monetary chaos in the United States. The reason is that it is out of our control, and privatized for profit and predation by its owners. Thus, in order to regain control over our own econom y and Constitution we need to nationalize the privately-owned "Federal" Reserve Bank.
We, the people, represented by an elected Congress, in whom the founders of this country placed the "purse" power, have been swindled and enslaved by the Federal Reserve Act of 1913 – in which the power to create, and destroy, our money as well as dictate the very nature of "our" economy, was given to private bankers by a corrupt Congress in a late-night, legislative, coup.
Those ruling-elite chosen economist lackies and media marionettes who still support the fiction of an "independent" Fed (independent of whom?) refuse to acknowledge its oligarchic nature – as neatly defined by libertarian economist Murray Rothbard in his last book , TheCase Against The Fed.
With regard to housing, why would we, the people, agree to charge one another interest on our home loans in the first place? The very building block of society saddled by life-long interest payable to private parties is clearly diabolical, unnecessary, and undermines a consumer-spending based economy. Debt-money interest – paid to bondholders and the very bond houses who own our central bank - raises the cost of everything we do and, worse, prevents us from doing what we need to do.
Today, we greatly need to invest in rebuilding our infrastructure but we cannot even finance our own civic improvements without paying interest to those who freely create our debt-based money by loaning it to us at interest. We are forced to pay interest to go to war, to re-build society, to live in our houses. We are forced, and we are forbidden... until we take back our money creation from the owners of our own central bank.
Can we have this discussion? Can we debate nationalization of our central bank? Will "our" presidential candidates opine on this topic? Will the subject ever be broached by the corporate media, or even "public" broadcasting?
The fact that we have not to date is surely indicative of how enslaved we have become. It is yet another aspect of our enclosure, of the defeat of the commons, of the impotence of economic democracy. For this reason it is essential that we bombard our leaders and media with requests to open this debate... if for no other reason than to to prove we are not a fascist state, a new Soviet of Totalitarian capitalism, a mere helpless pawn in a global Gulag and, finally, that the "free press" still has some meaning.
The Banksters have created a monster, for-profit, debt machine for which we, as taxpayers, are liable. It now threatens our economy, our currency, and very existence - not to mention throwing people out on the streets, and charging 30% credit card rates on obscene profit spreads.
This corrupt "Fed" structure may also be the very engine of the Kondratieff wave – a long-run depressionary consequence of not merely normal business cycles but, instead, of cycles driven by the intrinsic predations of debt-money creation powers leading eventually to monetary collapse.
In any case, to the extent the "Fed" owners cannot relinquish control of this public prerogative and persist in their attempts to squash the people’s efforts to regain their own central bank – as bequeathed by the Constitution and the founders – it is clearly indicative of the fact we are dealing with a criminal syndicate – a money mafia hiding in the shadows.
First, we need to know who owns our central bank, and not simply the corporate-front bond houses but the individuals who own the stock controlling these entities. If, in fact, these owners are proud of their efforts, and convinced of the wisdom of the oligarchic banking structure, why not come forward, in person, and re-make their case to the American people? Why use their media slaves to pooh-pooh the case? What do they have to fear? And why do the American people not have to right to such an appearance? If not, it’s time to subpeona our real bankers.
Clearly, the occasional Humphery-Hawkins, Fed chairman, happy-talk testimony before Congress is a joke, and never includes any talk of treasury-direct, interest-free, financing for our homes or infrastructure. This is but a token condescension by the money gods, slumming amidst the slaves.