- Sep 27, 2005
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?Congress may not abdicate or transfer to others its legitimate functions?
Schechter Poultry v U.S. 29 U.S. 495, 55 U.S. 837.842 (1935)
Following is a simplified explanation of the insane method in which currency and credit is currently created in the United States. This system benefits a few elitists at an exorbitant cost to We the People! The average American contributes one third of his hard earned dollars to support this corruption!
Let?s say, for example, that to carry out its legitimate functions, the United States needs $300 billion in credit and $100 million in currency :
1. The U.S. Bureau of Printing and Engraving at the U.S. Treasury is instructed to print $100 million in Federal Reserve Notes, as currency for the privately owned Federal Reserve Bank.
2. The privately owned Federal Reserve Bank System pays the U.S. Bureau of Printing and Engraving $20.60 per 1000 bills it prints! That is approximately two and a half cents for each bill, regardless of their face denomination, ie. $1, $5, $10, $20, $50, $100 bill. WHAT A DEAL!!
3. Next, the United States orders the same U.S. Bureau of Printing and Engraving to print $300 billion, $100 million worth of U.S. Treasury Bonds.
4. The privately owned Federal Reserve Bank then purchases $100 million of U.S. Treasury Bonds (redeemable at full face value plus interest) from the United States. To pay for these, the Fed uses the privately owned Federal Reserve Bank Notes that they just purchased for two and a half cents per bill! Next, the privately owned Federal Reserve Bank purchases the other $300 billion in U.S. Bonds with a simple ten second computer entry that transfers $300 billion in ?credit? into the United States? Treasury account. Where did the privately owned Federal Reserve Bank System get the $300 billion? It created it from NOTHING.
The People are then obligated to repay the privately owned Federal Reserve Bank, with their tax dollars, at full face value, plus interest (which is converted to gold at par, through the International Monetary Fund). The privately owned Federal Reserve Bank Notes and federal government credits were created for virtually nothing.
Conversely, the repayment of just the interest on these bonds requires a Citizens? physical labor from approximately January 1st until May 1st and giving 100% of their substance to the privately owned Federal Reserve Bank. What does the privately owned Federal Reserve Bank or the federal government give back to We the People in exchange for the sweat of our brow? NOTHING! ZIP! NADA! That constitutes servitude without just compensation.
COST TO WE THE PEOPLE: $300 Billion, $100 Million, plus continuously compounding interest.
COST TO THE PRIVATELY OWNED FEDERAL RESERVE BANK: About $26,000
"PERMIT ME TO CONTROL THE CURRENCY OF A NATION
AND I CARE NOT WHO MAKES ITS LAWS!?
Baron de Rothschild
THE POWER OF MONETARY AND CREDIT CREATION
Where does the privately owned Federal Reserve Bank get its money? IT CREATES IT FROM THIN AIR!
The privately owned Federal Reserve Bank has created a debt based economy. It creates nothing. Every dollar that America spends, it borrows from someone else. Every privately owned Federal Reserve Bank note in your wallet is nothing more than a debt certificate. America has given its greatest power, monetary creation, to the privately owned Federal Reserve Bank.
MONEY FACTS: House Banking and Currency Committee, 1964, pp. 9, states: ?The privately owned Federal Reserve Banks create Federal Reserve Notes out of thin air to buy government bonds from the United States Treasury by lending into circulation at interest and by bookkeeping entries of checkbook credit to the United States Treasury. The Treasury writes up an interest bearing bond for one billion dollars. The privately owned Federal Reserve gives the Treasury a one billion dollar credit for the bond, it has created from nothing. This is one billion dollar debt which the American people are obligated to pay full, with interest.?
A publication called, ?PUTTING IT SIMPLY?, by the Boston Federal Reserve Bank, sums it up as:
?When you or I write a check there must be sufficient funds in our account to cover that check, but when the privately owned Federal Reserve writes a check, it is CREATING money.?
Schechter Poultry v U.S. 29 U.S. 495, 55 U.S. 837.842 (1935)
Following is a simplified explanation of the insane method in which currency and credit is currently created in the United States. This system benefits a few elitists at an exorbitant cost to We the People! The average American contributes one third of his hard earned dollars to support this corruption!
Let?s say, for example, that to carry out its legitimate functions, the United States needs $300 billion in credit and $100 million in currency :
1. The U.S. Bureau of Printing and Engraving at the U.S. Treasury is instructed to print $100 million in Federal Reserve Notes, as currency for the privately owned Federal Reserve Bank.
2. The privately owned Federal Reserve Bank System pays the U.S. Bureau of Printing and Engraving $20.60 per 1000 bills it prints! That is approximately two and a half cents for each bill, regardless of their face denomination, ie. $1, $5, $10, $20, $50, $100 bill. WHAT A DEAL!!
3. Next, the United States orders the same U.S. Bureau of Printing and Engraving to print $300 billion, $100 million worth of U.S. Treasury Bonds.
4. The privately owned Federal Reserve Bank then purchases $100 million of U.S. Treasury Bonds (redeemable at full face value plus interest) from the United States. To pay for these, the Fed uses the privately owned Federal Reserve Bank Notes that they just purchased for two and a half cents per bill! Next, the privately owned Federal Reserve Bank purchases the other $300 billion in U.S. Bonds with a simple ten second computer entry that transfers $300 billion in ?credit? into the United States? Treasury account. Where did the privately owned Federal Reserve Bank System get the $300 billion? It created it from NOTHING.
The People are then obligated to repay the privately owned Federal Reserve Bank, with their tax dollars, at full face value, plus interest (which is converted to gold at par, through the International Monetary Fund). The privately owned Federal Reserve Bank Notes and federal government credits were created for virtually nothing.
Conversely, the repayment of just the interest on these bonds requires a Citizens? physical labor from approximately January 1st until May 1st and giving 100% of their substance to the privately owned Federal Reserve Bank. What does the privately owned Federal Reserve Bank or the federal government give back to We the People in exchange for the sweat of our brow? NOTHING! ZIP! NADA! That constitutes servitude without just compensation.
COST TO WE THE PEOPLE: $300 Billion, $100 Million, plus continuously compounding interest.
COST TO THE PRIVATELY OWNED FEDERAL RESERVE BANK: About $26,000
"PERMIT ME TO CONTROL THE CURRENCY OF A NATION
AND I CARE NOT WHO MAKES ITS LAWS!?
Baron de Rothschild
THE POWER OF MONETARY AND CREDIT CREATION
Where does the privately owned Federal Reserve Bank get its money? IT CREATES IT FROM THIN AIR!
The privately owned Federal Reserve Bank has created a debt based economy. It creates nothing. Every dollar that America spends, it borrows from someone else. Every privately owned Federal Reserve Bank note in your wallet is nothing more than a debt certificate. America has given its greatest power, monetary creation, to the privately owned Federal Reserve Bank.
MONEY FACTS: House Banking and Currency Committee, 1964, pp. 9, states: ?The privately owned Federal Reserve Banks create Federal Reserve Notes out of thin air to buy government bonds from the United States Treasury by lending into circulation at interest and by bookkeeping entries of checkbook credit to the United States Treasury. The Treasury writes up an interest bearing bond for one billion dollars. The privately owned Federal Reserve gives the Treasury a one billion dollar credit for the bond, it has created from nothing. This is one billion dollar debt which the American people are obligated to pay full, with interest.?
A publication called, ?PUTTING IT SIMPLY?, by the Boston Federal Reserve Bank, sums it up as:
?When you or I write a check there must be sufficient funds in our account to cover that check, but when the privately owned Federal Reserve writes a check, it is CREATING money.?
