Get rid of the Federal Reserve Bank

[Spytheweb]

Imagine if you will that you had the power to print money, but rather than spending it yourself you sold it all for virtually nothing, to someone else. Then when you needed money you borrowed it from that same person but at the full face value of that money.

For example, the government wants to borrow $1,000,000 from the FED. They call the Treasury and say, print 10,000 Federal Reserve Notes (FRN) in units of one hundred dollars. The treasury then charges the FED 2.3 cents for each note printed or $230 for the $1, 000,000 of FRN. The FED then lends the $1,000,000 back to the government at face value PLUS interest. To add insult to injury the government has to create a bond for the $!,000,000, as security for the loan. This is called making money out of nothing since the Federal Reserve Notes are not backed by anything of ?intrinsic value? (i.e. gold or silver).

The US government can print and issue all the interest free money it needs, why would it need the Federal reserve banking system? Andrew Jackson tried to stop the central banking system, he knew that it would ruin the US. Lincoln had a good idea with the "Greenbacks". Who will be the next great American President? One who will work for the good of all Americans and not for the dollar.

 

[The Judge]

Who will be the next great American President? One who will work for the good of all Americans and not for the dollar.

Ron Paul!

 

[The Sponge]

Imagine if you will that you had the power to print money, but rather than spending it yourself you sold it all for virtually nothing, to someone else. Then when you needed money you borrowed it from that same person but at the full face value of that money.

For example, the government wants to borrow $1,000,000 from the FED. They call the Treasury and say, print 10,000 Federal Reserve Notes (FRN) in units of one hundred dollars. The treasury then charges the FED 2.3 cents for each note printed or $230 for the $1, 000,000 of FRN. The FED then lends the $1,000,000 back to the government at face value PLUS interest. To add insult to injury the government has to create a bond for the $!,000,000, as security for the loan. This is called making money out of nothing since the Federal Reserve Notes are not backed by anything of ?intrinsic value" (i.e. gold or silver).

The US government can print and issue all the interest free money it needs, why would it need the Federal reserve banking system? Andrew Jackson tried to stop the central banking system, he knew that it would ruin the US. Lincoln had a good idea with the "Greenbacks". Who will be the next great American President? One who will work for the good of all Americans and not for the dollar.

Been saying this for the longest of times Spy. Its another of Ron Pauls platforms to get rid of these snakes. Money interest controls the country Spy and when you keep electing dogs and snakes this is what you get. We have fools that vote in this country and im pretty sure if Bush was allowed to run again the majority of the fools would vote for him again. Some have come to their senses but the religious right will always keep the country down. The pigeons who get plucked every election. You think those red states would take any responsibility for the mess we are in? I doubt it. This is just the start. Electing this group of theives and now having a 5-4 majority of anti americans in the supreme court will effect this country for years. As long as those red states keep getting hoodwink with gun control, flag, burning, and gay marriage this country will never get out of the hole. They, the red states, put us in.

 

[flapjack]

Andrew Jackson tried to stop the central banking system, he knew that it would ruin the US. Lincoln had a good idea with the "Greenbacks". Who will be the next great American President? One who will work for the good of all Americans and not for the dollar.

If only we all had the brilliant financial mind and 3rd grade education of Andrew Jackson. Our standard of living and the economic strength of the country has continued to spiral downward since his battle against the Central Bank and the later creation of the Fed Reserve.