The Central Bank - A New Beginning 1913
The Creature from Jekyll Island
I say new beginning because The Federal Reserve Bank was not the first Central Bank in America. In 1781 a central bank was formed known as the Bank of North America and it was patterned after the Bank of England but this central bank ended in 1790 because of its unpopularity. The international bankers countered the closing of the Bank of North America by gaining a charter for the Bank of the United States which was chartered on February 25, 1791.
The Charter expired in 1836 - then came the Civil War
and the Rothschild's Bank of England financed the North while the Paris branch of the Rothschild bank funded the South. In 1863, the National Banking Act was passed and this allowed a private corporation the authority to issue the nations money.
In November of 1910, there was a secret meeting at the Jekyll Island Hunt Club on Jekyll Island, Georgia. There they plotted the take over of the nations monetary system. Those in attendance were: Senator Nelson Aldrich, A. Piatt Andrew, Frank Vanderlip, Enry P. Norton, Paul Moritz Warburg, Benjamin Strong. Paul Warburg was credited as the architect of the bill which was passed by Congress and signed by Woodrow Wilson.
It was entitled the Federal Reserve Act of 1913
and The Federal Reserve was incorporated in 1914. America once again had a central bank but this time they had placed America under absolute control of the banking cartel of the Rothschild's Bank of England. On July 1, 1914 (a few months after the Fed was created) the U.S. national debt was 2.9 billion dollars. Today, it is more than more than 5000 times larger.
The Federal Reserve has been designed to systematically destroy the value of our currency, drain the wealth of the American public and enslave the federal government to perpetually expanding debt and it is doing a very good job of it. Most Americans are content with believing that the Federal Reserve is just another stuffy government agency that sets our interest rates and that is watching out for the best interests of the American people - that is not the case at all.
If the American people are ever going to learn what is really going on with our economy, then it is absolutely imperative that they get educated about the Federal Reserve. The following are 8 things that every American should know about the Federal Reserve:
The Federal Reserve System Is A Privately Owned Banking Cartel
We do not know how much of the system each bank owns, because that has never been disclosed to the public. The Federal Reserve openly admits that it is privately owned. When it was defending itself against a Bloomberg request for information under the Freedom of Information Act, the Federal Reserve stated unequivocally in court that it was "not an agency" of the federal government and therefore not subject to the Freedom of Information Act.
The Federal Reserve System Is A Perpetual Debt Machine
As long as the Federal Reserve System exists, U.S. government debt will continue to go up and up and up. The way our system works, whenever more money is created more debt is created as well. For example, whenever the U.S. government wants to spend more money than it takes in (which happens constantly), it has to go ask the Federal Reserve for it. The federal government gives U.S. Treasury bonds to the Federal Reserve, and the Federal Reserve gives the U.S. government "Federal Reserve Notes" in return. Usually this is just done electronically. So where does the Federal Reserve get the Federal Reserve Notes? It just creates them out of thin air. Instead of issuing money directly, the U.S. government lets the Federal Reserve create it out of thin air and then the U.S. government borrows it.
The Federal Reserve Has Destroyed More Than 96% Of The Value Of The U.S. Dollar
The U.S. dollar has lost 96.2 percent of its value since 1900? Of course almost all of that decline has happened since the Federal Reserve was created in 1913. Because the money supply is designed to expand constantly, it is guaranteed that all of our dollars will constantly lose value. Inflation is a "hidden tax" that continually robs us all of our wealth.
The Federal Reserve Can Bail Out Whoever It Wants To With No Accountability
Did you get upset when Congress gave those bailouts to the Wall Street banks and to the big automakers? Did you know that the biggest bailouts of all were given out by the Federal Reserve? Thanks to a very limited audit of the Federal Reserve that Congress approved a while back, we learned that the Fed made trillions of dollars in secret bailout loans to the big Wall Street banks during the last financial crisis. They even secretly loaned out hundreds of billions of dollars to foreign banks. A total of $16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010.
The Federal Reserve Is Paying Banks Not To Lend Money
It is true. Section 128 of the Emergency Economic Stabilization Act of 2008 allows the Federal Reserve to pay interest on "excess reserves" that U.S. banks park at the Fed. So the banks can just send their cash to the Fed and watch the money come rolling in risk-free. The amount of "excess reserves" parked at the Fed has gone from nearly nothing to about 1.5 trillion dollars since 2008. Unfortunately, the Federal Reserve is not working for us. The Federal Reserve is working for the big banks.
The Federal Reserve Creates Artificial Economic Bubbles That Are Extremely Damaging
By allowing a centralized authority such as the Federal Reserve to dictate interest rates, it creates an environment where financial bubbles can be created very easily. Over the past several decades, we have seen bubble after bubble. Most of these have been the result of the Federal Reserve keeping interest rates artificially low. Right now, the Federal Reserve continues to set interest rates much, much lower than they should be. This is causing a tremendous misallocation of economic resources, and there will be massive consequences for that down the line.
The Federal Reserve System Is Dominated By The Big Wall Street Banks
Since it was created, the Federal Reserve system has been dominated by the big Wall Street banks. The New York representative is the only permanent member of the Federal Open Market Committee, while other regional banks rotate in 2 and 3 year intervals. The former head of the New York Fed, Timothy Geithner, is now U.S. Treasury Secretary. The truth is that the Federal Reserve Bank of New York has always been the most important of the regional Fed banks by far, and in turn the Federal Reserve Bank of New York has always been dominated by Wall Street and the major New York banks.
It Is Not An Accident That We Saw The Personal Income Tax And The Federal Reserve System
Both Come Into Existence In 1913. On February 3rd, 1913 the 16th Amendment to the U.S. Constitution was ratified. Later that year, the United States Revenue Act of 1913 imposed a personal income tax on the American people and we have had one ever since. Without a personal income tax, it is hard to have a central bank. It takes a lot of money to finance all of the government debt that a central banking system creates. It is no accident that the 16th Amendment was ratified and the Federal Reserve system was created in 1913. They have a symbiotic relationship and they are designed to work together.
The 10 member banks of the Federal Reserve are all owned by the Rothschilds:
Rothschild Bank of London, Warburg Bank of Hamburg, Rothschild Bank of Berlin, Lehman Brothers of New York, Lazard Brothers of Paris, Kuhn Loeb Bank of New York, Israel Moses Seif Banks of Italy, Goldman, Sachs of New York, Warburg Bank of Amsterdam, Chase Manhattan Bank of New York. The Federal Government of the United States is not listed because the Federal Reserve is private and therefore the United States receives nothing.
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