The Federal Reserve, like all private central banks, serves no useful purpose but to chain a government and the taxpayers who support it to an unpayable debt and perpetual inflation. Someone needs to expose the whole debt-money system as the fraud that it is, and this audit is a good first step.
But what really needs to happen next is for someone to clearly explain to the American people that our entire monetary system is based on debt. We cannot create $1 without creating a $1 liability + interest to a bank. We cannot get out of debt because to do so would destroy the money supply. Our only hope is to out borrow our previous borrowing to keep the system afloat.
Have you ever paid down a loan? OMG! You just reduced the money supply. Apparently, it wasn't fatal.
“The Federal Reserve, like all private central banks, serves no useful purpose”
Regulating the money supply is pretty danged useful.
” but to chain a government and the taxpayers who support it to an unpayable debt and perpetual inflation.”
- Inflation is less thanks to a Fed outside political control. When Jackson abolished the national bank, inflation ensued. Countries without a central bank often suffered far worse economically.
“Someone needs to expose the whole debt-money system as the fraud that it is”
That would be tough because it’s not a fraud. Fractional banking has been in use for centuries and it works.
If you want the primer, re-watch ‘It’s a Wonderful Life’.
“We cannot create $1 without creating a $1 liability + interest to a bank. We cannot get out of debt”
Read a 10-K for a few companies. There are many companies out there that dont want nor need to get out of debt, so long as cashflow services that debt and the cost (interest) is less than their own return-on-equity.
” because to do so would destroy the money supply.”
Um .... NO.
” Our only hope is to out borrow our previous borrowing to keep the system afloat.”
Um .... NO again.
As an individual, one way out is for each and every one of us to secure a physical store of gold and/or silver. At least 1/10th of your savings - if a large portion of the population adhered to this, a financial disaster from the false paper economy would be cushioned by the resurgence of a real money economy. Do it! Now! Every one of you!