100 Year of the Federal Reserve

[David Merrill]

I find it interesting that we had some sort of quiet Shutdown over the 100th Anniversary of the Federal Reserve?

[Keith Alan]

We did? I haven't heard anything.

[Freed Gerdes]

Charles Hugh Smith has taken some shots at the Fed cartel banking system, but you won't see this reported in the lamestream press. Check this web site:
http://www.zerohedge.com/news/2014-01-15/resolution-1-lets-call-things-what-they-really-are-2014

The Fed is perfectly happy to keep the sheeple in the dark about their debt ponzi scheme, and have advised the 6 corporations that own the US media conglomerates to keep quiet.

Freed

[David Merrill]

We did? I haven't heard anything.

Maybe not. A tax preparation expert told me that all 1099's and W-4's will be issued starting February 1, not January 1.

[froze25]

Maybe not. A tax preparation expert told me that all 1099's and W-4's will be issued starting February 1, not January 1.

NY State will not have their forms available on line until January 24th 2014

[David Merrill]

I asked the tax prep guy yesterday. He clarified that the IRS was not going to be processing any refunds before February 1 this year. This is due to the Budget/Debt Ceiling fiasco. quiet shutdowns now... bitcoins...]

I think maybe all the monetary generation went into some kind of absurd flurry as the value of the dollar sunk below the cost to print it on paper. The only saving grace is the number of zeroes you can print after the initial digit!

[froze25]

I asked the tax prep guy yesterday. He clarified that the IRS was not going to be processing any refunds before February 1 this year. This is due to the Budget/Debt Ceiling fiasco. quiet shutdowns now... bitcoins...]

I think maybe all the monetary generation went into some kind of absurd flurry as the value of the dollar sunk below the cost to print it on paper. The only saving grace is the number of zeroes you can print after the initial digit!

In regards, to bitcoin I bought one just in-case back when it was 200 FRN's. I will hold on to it and see what happens. Its kinda like a Dooms day scenario if the internet is still operational.

[HannahL]

Hi there! This is such an interesting topic. :) By the way, the bailouts the federal government made many years back, to keep some large financial firms open and to prevent additional fiscal mayhem, may have not been as bad an idea as many believed. One of the biggest bailouts was the AIG bailout (http://www.matchfinancial.com/), which came to almost $200 billion being lent to the institution by the working class individuals. So far, the government has really made a profit on AIG, about $18 billion worth.

[stoneFree]

I found the CentralBankers Address (http://losthorizons.com/phpBB/viewtopic.php?f=2&t=3140&start=15#p31254):

"Five score and about a year ago our forebankers enacted on this continent, a new scheme, conceived in iniquity, and dedicated to the proposition that all men ... should labor for us.

Now we are engaged in a great financial war, testing whether that currency scam, or any currency so conceived, can long endure. We are met on a great tax-field of that war. Can our secret scheme, our grand experiment in human husbandry, be contained much longer? We are barraged daily by everything from Bitcoins to Zerohedge.

Our success required infiltration, mountains of propaganda, a compliant media, legislative draftsmen, judges, and so many bit-part actors. Not to mention the sacrifice of those who couldn't keep their mouth shut. We can never forget what they did here. But enough about them. It is rather for us, the living, to grab the task remaining here before us - that, the New World Order shall have a new birth of disinformation, and that government of the banks, by the banks, for the banks, shall not perish from the earth."

[David Merrill]

Thanks for the big chuckle!!

[Chex]

"We can never forget what they did here."

“Shall Not Be Infringed”; What Part Don’t You Understand?

Infringement: The encroachment, breach, or violation of a right, law, regulation, or contract.

The Second Amendment to the U.S. Constitution reads:

A well regulated Militia, being necessary to the security of a Free State, the right of the people to keep and bear Arms, shall not be infringed.


http://www.youtube.com/embed/0sujnvIV4g4

[stoneFree]

Washington Strips New York Fed’s Power


WASHINGTON—The Federal Reserve Bank of New York, once the most feared banking regulator on Wall Street, has lost power in a behind-the-scenes reorganization at the nation’s central bank.

The Fed’s center of regulatory authority is now a little-known committee run by Fed governor Daniel Tarullo , which is calling the shots in oversight of banking titans such as Goldman Sachs Group Inc. and Citigroup Inc .

The new structure was enshrined in a previously undisclosed paper written in 2010 known as the Triangle Document. Under the new system, Washington is at the center of bank supervision, exercising control over the Fed’s 12 reserve banks, much as the State Department exerts control over embassies.

The power shift, initiated after the financial crisis and slowly put in place over the past five years, is more than a bureaucratic change. It influences how the biggest banks on Wall Street are overseen and has begun to affect regulation in unanticipated ways across the Fed system.
http://www.wsj.com/article_email/washington-strips-new-york-feds-power-1425526210-lMyQjAxMTA1ODA0NTAwNTUxWj


It would appear ... the Bad Guy branch of the Fed is under attack by the Good Guy branch. This was done in secret and now they're letting us know.

[Brian]

"The Federal Reserve System puts itself forward as a non-profit organization that turns over its operating profits to the U.S. Treasury, after all expenses, including the 6% dividend to member banks. However this misses the point on several scores. First, the banking profits coming through the privileged money creation process mainly occurs at the member bank level of operation, and those profits are not turned over to the Treasury. That is, the net earnings from the member banks seigniorage privilege are not turned over to our government but kept by the private member banks. For England this amount has been estimated at 41 Billion Pounds per year. For the US we think it’s between $100-200 billion per year; but we need to know the amount more precisely from the Fed itself."

http://www.monetary.org/is-the-federal-reserve-system-a-governmental-or-a-privately-controlled-organization/2008/02

[Chex]

Nice links stonefree and Brian

Where is the government getting the money that it spends every year?

The Federal Government has been cascading further and further into debt over the last several years and has more than exceeded 100 percent of its own GDP to the point that the debt ceiling has been raised repeatedly and now we are facing a so-called "financial cliff" that, regardless of a decision by year's end, will be fallen off of at some point soon.

The question is, who keeps giving us all this money to get us further and further into debt, and why do they keep giving it?

Any ordinary consumer would be denied a loan without a second thought if their debt exceeded their earnings by well over 100 percent and that person was living beyond their own means so dreadfully much.

It is painfully obvious that the United States, nor any other nation in this financial status, will ever be able to pay off its own debt. So why are we allowed to continue borrowing?

The short answer is, the government licenses the banks to commit fraud (fractional reserve banking) in exchange for the banks taking government IOUs. The banks then uses these IOUs as the "assets" backing the loans that they make which are not backed by actual wealth or actual money.

In other words, the banks can make a profit from lending out money that they don't have, and the government gets a cut of the loot in various ways.

What it amounts to, is a symbiosis between the government and the banks on the one hand. The banks need the government to make legal what would otherwise be against the law of contract and of fraud. And the government needs the banks to accept its debt, i.e. lend it money, which it gets by defrauding the population through inflating the money supply.

It's a parasite/host relationship between the government and banks on the one hand, the parasites, and the rest of the population, the host, on the other.

It's kinda hard to explain in a short space. But once you understand it, you will be amazed that a fraud so blatant and so enormous and so destructive could be carried on right under our noses in full view of the public.

Reduced to its simplest, imagine a country uses gold coins as money. Then the king passes a law making it illegal to use money issued by anyone else but him. So everyone starts using money issued by government.

Then the government starts to debase the currency, by adding three percent of tin. These pass into circulation.

The effect is to sneakily transfer three percent of the actual physical wealth of the population, taking it from its proper owners, to the king who spends it palaces, and wars, and dancing girls. Then he adds more tin, and so on. No need to break into people's bank accounts and steal the money - it's done automatically simply by the fact of people using money.

The Federal Reserve is just a more sophisticated version of that same scam, except they use book entries, and electronic blips, instead of using gold coins and tin. But it's conceptually, and ethically, and economically, exactly the same.

It works by diluting the supply of money. The effect is to vacuum up wealth from the productive class, and channel it to the priviligentsia, such as big banks, big corporations, military supply companies, and pet political favourites.

Since the Fed's inception in 1913, the dollar has lost 97 percent of its value.

For a complete understanding, you need to read these books, which are written in plain English, very interesting, and available free online:

"What Has Government Done to Our Money?" by Murray Rothbard http://mises.org/books/whathasgovernment...

and

"The Mystery of Banking" by Murray Rothbard http://mises.org/Books/mysteryofbanking....

If the people only understood it, they would abolish central banking immediately.

I guess nobody is reading history books.

To accuse people of behaving like people is startling in its naivete.

I would guess you would jump in on a sure thing that was going up. The real problem is not that people tend to look for opportunities to make money but that the elected officials curry and sell favor for power and votes which leads to government guarantees of using other people's money.

Reading Rothbard, What has government done to our money, and history of Jekyll Island.

What we need to do is get rid of the Federal Reserve and the ability of the government to run on borrowed money. Those two things would do a tremendous amount to reign in recklessness and without those two things there is no hope of making any meaningful changes.