Everyday, people are waking up and realizing that just because things are a certain way doesn't mean that it has to continue. Decentralized cryptocurrencies are the solution to endless wars and corruption. Liberty will prevail. Peace will prevail. Love will prevail.
In 1913, the Federal Reserve Act was passed. This took away the power to coin money from Congress, and instead, gave this power to a private banking system, which has little to no transparency or accountability. The people have a small chance to hold our congress accountable. No one can hold the Federal Reserve accountable. Former Federal Reserve Chairman Alan Greenspan admitted that the Federal Reserve is above the law and answers to no one. The Federal Reserve is about as federal as the Federal Express (Kucinich). There has only been one outside audit of the Federal Reserve in its one hundred year history, and it was only a partial audit. In that audit it was found that the Federal Reserve sent sixteen trillion dollars overseas in secret without notifying Congress (Greenstein). Sixteen trillion dollars was printed up out of thin air to be given to foreign banks, and how can one possibly explain how this does not affect the United States economy. For example, imagine your dream car. Now let’s say that there are one hundred thousand Fiats (the car) in the first scenario and one thousand Fiats in the second scenario. In which scenario will the Fiats individually be worth more? The more money that is printed out of thin air, the lesser the value of the dollar becomes. This explains why normal day necessities are rising in price, while paychecks stay the same. The Federal Reserve is a cartel operating against the public interest (Griffin). “Due to people rejecting the notion of increasing direct taxes, inflation is then used to help service the overwhelming debts incurred through warfare. In turn the purchasing power of the masses is diminished, yet most individuals are unaware of this dilemma. This has the biggest impact on low income individuals since it is a regressive tax” (Paul). The dollar has been fiat money (backed by nothing) since 1971 (Rothbard). Throughout the history of mankind, fiat money has never lasted more than a few decades.
The Federal Reserve is a not friend to the common man. Any economic policy which thrives off debt and welfare, such as Keynesian Economics, is not a friend to the common man either. It is a known fact that the Federal Reserve was created by some of the richest people in the world, including J.P. Morgan and John D. Rockefeller (Griffin). This is who the Federal Reserve serves.
The Federal Reserve prints the money and loans it to the Treasury, while charging the government interest. A private bank prints up money to give to select banks at little to no interest, where the banks then loan the money to the American people at an interest. When the bailouts come along, which are inevitable with the current unsustainable system, the same banks that control the Federal Reserve get bailed out with hundreds of billions of dollars. It is the tax payer that pays for this system even though they never did anything wrong. This is the definition of a Ponzi scheme.
Sources:
- Rothbard, Murray. What Has the Government Done to Our Money. Auburn, Georgia: Ludwig von Mises Institute, 2010.
- Paul, Ron. End The Fed. New York City, NY: Grand Central Publishing, 2009.
- Griffin, G. Edward. The Creature from Jekyll Island: A Second Look at the Federal Reserve. Appleton, WI: American Opinion Publishing, 1994.
- Greenstein, Tracey. “The Fed's $16 Trillion Bailouts Under-reported”. Sept. 21st, 2011. Forbes
- Kucinich, Dennis. “Dennis Kucinich: Federal Reserve No More "Federal" Than Federal Express!”. Speech. 9 Jan. 2009. YouTube. 10 Jan. 2009.
- Greenspan, Alan. “Greenspan Admits The Federal Reserve Is Above The Law & Answers To No One”. YouTube. 29 Jan. 2008.