Posted on 07/09/2009 7:16:52 AM PDT by Patriot1259
A long time ago, in a much simpler time, the Federal Reserve Board and the Federal Reserve System were created by men seeking power and they understood that power came through the control of money, if you wanted power over the government. The fed was born of that concept. In 1987, William Greider, a writer for Rolling Stone wrote the definitive book on the fed, entitled, “Secrets of the temple, how the federal reserve runs the country”. William Greider wrote an amazing book, you can read online here. But, the title should have ended in “runs the world”.
In 1980 banks that were members of and doing business with the fed complained that the reserves they were required to keep at the fed was really a hidden tax, because the fed paid no interest on that money, whereas the large commercial banks that were non-members paid interest on reserves, therefore they were more competitive and able to offer lower interest rates. This complaint had been going on for years, but this time, the fed used the democrats in Congress to pull the wool over the eyes of the public.
(Excerpt) Read more at thecypresstimes.com ...
“A long time ago, in a much simpler time, the Federal Reserve Board and the Federal Reserve System were created by men seeking power and they understood that power came through the control of money, if you wanted power over the government. The fed was born of that concept.”
I thought that the Fed was born of the initial concept of central banking (National Banks) that we needed to be able to conduct commerce as a confeferation of states? No? I thought the “power over the government” thing came along as we started our march toward democracy and away from a representative republic, which has led us down our current socialist path?
I guess that ends up in the same place, but I am not sure of the intent of the start of the Federal Reserve as stated, as a primary reason rather than a mutation.
The banking system is the one thing that was supposed to be nationalized. If we were a true Republic the government would be controlled by the people anyway.
Great article.
The Confederation was long gone by the time the Fed was created. And the concept that we needed a national bank was pretty well debunked in the years from Andrew Jackson to the current Fed. We did fine without a Fed, recessions happened, but were shorter and shallower than what the Fed causes. The Fed was supposed to reduce recessions, not turn them into decades-long depressions.
A national master bank, outside of direct control of the government, has monopoly power unsuitable to a free economy.
A national master bank, outside of direct control of the government, has monopoly power unsuitable to a free economy.
That was my point...that the confederation of states (small c) or the association of the new states, if you prefer, were to band together in mutual assurance of a the ability to pay for collective efforts (national defense, trade agreements for collective efforts, etc.) and it mutated...I do not believe the original intent was to become the unified uncontrollable monolithic POS we have in place now...but the original intent, in my opinion, was a good one, with states contributing and supporting (or rejecting) actions required for the good of the Am,erican people, keeping the power in their hands...
Later - thanks!
Regardless of the original sales pitch, I do believe that was the intent all along. And that had been the intent of the bankers since the days of Andrew Jackson.
BTTT
Eliminate it.
FED up.
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