Posted on 12/23/2023 12:57:24 PM PST by RandFan
On December 23, 1913, President Woodrow Wilson signed the law creating what would become the world's most powerful financial institution.
For me it's probably the most destructive institution that has been created
As long as the Fed has been around, it has swung the economy between inflation and recession.
Politicians created a fully government-run institution to bail out government and bad banks alike: the Federal Reserve.
Since its founding, the Fed has stolen 98% of the value of a dollar. It has used those profits to repetitively launch boom-bust cycles.
Click excerpt link for more...
(Excerpt) Read more at heritage.org ...
Death Machine
And yellen has has been there the whole time.
The Den of Vipers need to be eliminated.
Central banking is bad. People say “you need it”. But I think that it is evil and it is entirely possible to run a national economy without such a monstrosity. Andrew Jackson was right to kill the Second Bank and someone should come along and kill the Fed.
When you look at their record over the last 110 years its not good is it and seems to be getting worse (.com bubble, 2008 and current fiasco)
Maybe it’ll wake some people up
This is just another example of why most laws should be “sunset laws”. Unless Congress periodically renews the law, it goes away.
110th anniversary of the death (calculated murder) of the republic.
The FED is a massive banking cartel. Idiot politicians think the US government controls the FED. Just the opposite.
Wilson was essentially a Fabian socialist.
Aside from the fact that they didn’t then and don’t now understand the nonlinear behavior of the system they created, the bigger problem is that you cannot have such a system without a way to collateralize it.
That is done via the Federal Income Tax. It’s no coincidence that the two things were put in place in the same year.
IOW the Fed requires a captive population to pay the bonds it issues to collateralize the currency. That means we are simply tax slaves, here to bolster the fiat dollar.
Odd how no one ever seems to point that out.
The Creature.
+1
From 1865 to 1913 there was no slavery in the US. Just 50 years. That’s it.
See the tag...
That’s a very influential book, at least on me
why, of all the oppressive leftist/globalist/elitist institutions in America, did a black basketball star, Royce White, lead a protest against the federal reserve?
Another huge mistake.
What’s wrong with it ?
Page 27, “When a borrower cannot repay and there are no assets which can be taken to compensate, the bank must write off that loan as a loss. However, since most of the money originally was created out of nothing and cost the bank nothing except bookkeeping overhead, there is little of tangible value that is actually lost. It is primarily a bookkeeping entry”
And it was a dark day for America when it happened...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.