Much rightful criticism is leveled at the private banking cartel that styles itself the “Fed” – the latter term being an attempt to conflate the private banking cartel that loans money conjured out of thin air at interest to the government, with the government.
It is a loathsome, dishonest thing – and not just etymologically. For it is loathsome to suck the value out of people’s money by manufacturing more of it (and so devaluing the “notes” already in circulation, whether physical or digital) and even more so to cheat and defraud a nation by charging its people interest on money that was created out of nothing but which the people are forced-by-fiat to use as “money,” by the government – which is owned by the “Fed.”
And then charged interest on the “loan” they never took out.
That topic is thoroughly covered – both the details and the history – in G. Edward Griffin’s The Creature from Jekyll Island, which if every American read would result in heads on pikes at the “Fed.”
But we are not as helpless before the depredations of the “Fed” as many have been gulled into believing we are. If we avoid the thing that drives the “Fed” – which is debt and the endlessly accruing interest that goes along with it.
It is rarely necessary to go into debt. One isn’t forced (yet) to buy a new car, for instance. Or a used car that cannot be bought without going into debt. No on has to buy a $300,000 house. There are $150,000 houses available. They may be not as big – or as “nice” – but not being chained to debt is nicer. It is also easier to pay off a $150,000 house if you haven’t got a car payment.
Or a student loan payment.
Most payments are still optional – as in, people are free to choose to saddle themselves with them. Those who choose not to are in a much freer, if less superficially affluent, position than those who choose to be saddled. The latter may be driving a new car with heated leather seats and an LCD touchscreen with all the latest “apps” – but they are often driving it to a job they can’t stand, in order to be able to make the monthly payment. They sit in traffic for hours, because they need that Big City job to pay the mortgage on the 3,400 square foot home they bought instead of the 1,500 square foot house out in the country they could have afforded on half the salary.
They have trouble saving because they are always spending. For many, it has also meant Diapering – and needling – as they had to submit to both in order to keep the jobs they had to have in order to keep on paying the monthly payments on all the things they wanted but probably didn’t really need.
Like that $50,000 new car when a paid-for $5,000 used car could have gotten them where they needed to go just as effectively – if not as flashily. Or that $300,000 house that has empty rooms no one uses that must also be heated and cooled as well as paid for every month – rather than the $150,000 house with rooms enough that costs half as much each month.
Credit – which is a functional synonym for debt – has made it easier to spend when saving would be better. Just swipe that card. You do not see what it just cost you, as you would if you used cash to pay for what you just bought. There is also a limit to how much you can buy when you pay using cash. Because you only have whatever you have with you.
You cannot “charge” it.
No doubt, this is one of the reasons why the same people who imposed the “Fed” on us are working to impose a cash-less system on us. It is not solely to monitor us, though that is an important part of it. They also want to habituate the populace to living beyond its means, as all-too-many already do. The reason for that ought to be obvious, too.
People who do not own are owned.
The more beholden you are to a bank or finance company, the more beholden you are to whatever job you have and that makes you more beholden to corporations and these now effectively control the government and use it to control everything within their grasp.
But if you don’t owe these octopi anything, they do not own you.
People ask: What is to be done? By which they mean, what is to be done about this cancerous system we’re living in. Well, the answer is right there in front of us, if we’re willing to see it. If we’re willing to act on it.
Disconnect from the system. Stop buying into the system – especially when you cannot afford to. How to know when you can’t afford to?
That would be whenever you cannot afford to pay for it – by paying for it with cash.
. . .
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If you do not have alloidial title do you really “own” that house or property
What we have is Fee Simple title.
The “Fee” refers to ‘fief’. We’re Serfs.
Property taxes exist for the same reason zoning laws exist…because no matter what you ‘thought’ you owned, you don’t actually own anything!
The term is “Alloidal Title”. It means that the owner of such title has first claim on ownership of that land preceding all other claimants.
In the United States Alloidal Title is retained by the Government. So you can forget all that “Here, Sir, the people rule” stuff. Furthermore of note, you might understand that this indicates the government is sovereign …and not the people, as widely proclaimed.
So, what kind of title do you have in the United States?
With a few exceptions you have what is called “Fee Simple Title”.
It means that the orignal owner, the sovereign, NOT YOU, may encumber your temporary possession of the land with any number of demands.
The Sovereign may demand rent. The Sovereign may demand taxes. The Sovereign may restrict the use of the land to only a few (or a single) use. Or the Sovereign may demand military or domestic service such as a draft…or registration thereto…in return for tenancy. And the Sovereign may take back the land at any time (see Emminent Domain). In historical contexts Sovereigns have even demanded sexual services for themselves…and for their supporters, officers, and bureaucrats (see Prima Noctus).
But what does the term “Fee Simple” mean?
Well…and you probably won’t like this… the “Fee” part refers to the nature of the estate which holds the title. Fee refers to a feudal fief.
The second part “Simple” refers to the type of ownership interest the estate holds: Simple or Simple Conditional.
So, if this clashes with what you learned in school about the American Revolution, “Of, For, and By the People”, immigration for “Free Land”, “Popular Sovereignty” and all that… Perhaps you should challenge those beliefs. Alternatively…the government has some explaining to do.
Regardless, in the Colonial period and until the 1840’s real property was held much as other property – and could easily be traded in its entirety free of traditional encumbrances. Since then? Yes…but, as noted, with encumbrances by the property’s “Ultimate” owner…which is not the person who purchased it.
Now that there are passports and travel may be restricted for taxes…
Well, it appears that…
SERFDOM’S RESTORED.
satan klaus…..claus schwabb the nwo says you will own nothing and be happier
( but already don’t own).
When interest rates are 0 % to 2% and assets, real estate, with it’s enormous leverage, stocks, collector cars, go up 10 to 20% per year it is a no brainer, borrow like crazy, leverage up to the moon.
When interest rates are 5% headed for 10 to 15% and some of these assets are dropping 20 to 30% in 6 months, (happening right now today, we’re back to the 2009 crash…lol), it is a different story. Panic time. Crash.
Buy gold? Short the market? Maybe….lol…. The repo man will make money.
Was it a setup to make sure you are broke, own nothing? It was a trap, it is working.
In bond jargon, MBS went āno-bid.ā No buyers for MBS.
The halcyon days of 2020 and 2021 when banks were paying you to borrow money may be coming to an end. Maybe weāll see real estate become assets again, and the mortgage you took out to buy that real estate go back to being the liability, instead of the other way around as it has been for a couple of years now.
Rent money at 2% to 3% buy real estate that goes up 10 to 20% per year is a great idea, but….borrowing money at 6% to 18% to buy real estate that goes down 20% to 50% in a year is insanity…lol….so the real estate market has siezed up, broken, crashing……..
And when the energy bill to heat the house goes up 200% to 500% (see europe now) and property tax goes way up = more people forced onto the street bankrupt…homeless…
30 year fixed mortgage rates today are about 270bps over the benchmark 10 year Treasury as of this writing (5.85% vs. 3.165%). If we need to get to real bond yields before investors want to buy bonds, that implies a 10 year Treasury somewhere north of 8.6%. That in turn implies mortgage rates north of 11%……11% mortgages…lol…. (All of that assumes you believe the 8.6% CPI print.)
https://notoriousrob.com/2022/06/finally-no-bid-on-mbs/
“The establishment of a central bank is 90% of communizing a nation. – Vladimir Lenin
“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.” – Vladimir Lenin
——————-
“The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other peopleās money.”
– Charles August Lindbergh
—————-
āThe men the American people admire most extravagantly are the most daring liars; the men they detest most violently are those who try to tell them the truth.ā ~ H.L. Mencken
https://www.lewrockwell.com/2022/09/gary-d-barnett/trump-worshipers-trump-lies-election-idiocy-and-the-truth-about-collectivist-political-madness/
——————–
āLenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security but [also] at confidence in the equity of the existing distribution of wealth.
Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become “profiteers,” who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.
Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.ā
ā John Maynard Keynes, The Economic Consequences of the Peace
More billion dollar taxpayer bailouts caused by fake global warming narrative destroying the energy market and grid….
they are trying to switch 100% to so called green solar and wind. in reality wind and solar are very dirty, environmentally destructive, ultra expensive, unreliable,
this is crashing the markets and the economy (everything crashing, real estate, stock market, bond market)…lol…now you know why your house price is diving……
Sweden, Austria Start Bailing Out Energy Companies Triggering Europe’s “Minsky Moment”
Last weekend, Credit Suisse repo guru published what may have been the most insightful snippet of the entire European energy crisis (to date) when he extended the infamous “Minsky Moment” framework to Europe, and specifically Germany, which he said “canāt cover its payments without Russian gas and the government is asking citizens to conserve energy to leave more for industry.”
He then elaborated that “Minsky moments are triggered by excessive financial leverage, and in the context of supply chains, leverage means excessive operating leverage: in Germany, $2 trillion of value added depends on $20 billion of gas from Russiaā¦ ā¦thatās 100-times leverage ā much more than Lehmanās.”
https://www.zerohedge.com/markets/sweden-austria-start-bailing-out-energy-companies-triggering-europes-minsky-moment
Trump accused Germany of becoming ātotally dependentā on Russian energy at the U.N. The Germans just smirked….in 2018…lol
https://www.washingtonpost.com/world/2018/09/25/trump-accused-germany-becoming-totally-dependent-russian-energy-un-germans-just-smirked/
Talk about spending on things you don’t need,,, watched a couple folks walk out of Best Buy with a $2000 phone! Something like $90 bucks a month plus the service. The wife and I had a good laugh. We just purchased a flip phone for $49.99 used for emergencies only.
Only debts we have are property tax and the damned school tax which is far more then the property tax. Gotta pay them pensions. And lately,,, the new gig is adding millage to your property tax for something called Childrens Trust. 51% robbing 49%. Gotta love Demockracy. Other than BS they don’t even say what ‘services’ they give.
“Our Core Purpose Working together to make our
childrenāslives better.” ?Another winner for us that have no children. It’s obviously a scam but scams are America today.
I would be happy if a majority of people would wake up to the fact that Income tax is completely unnecessary, and demand its abolition. It seems some dark force is behind these people, creating the difference between what is collected and what is spent out of thin air, as if by magic. Why not just break their spell by funding all government pets and their projects with this digitized form of 1s and 0s.
What difference does it make if the Government runs a three trillion dollar debt or four trillion? To say the ‘markets won’t like it,’ and it will ’cause a horrible crash’ is utter bullshit. The markets are in the control of the same dark forces creating the debt and servitude cycle in the first place.
If enough people would pull their heads out their asses, their money out of the banks, and just stop complying, in short order this monster could be slain. Fear is the fuel this beast feeds upon. Thus the reason for 90 thousand IRS ‘agents.’
Its past time for people to live as Eric wrote about, debt free.Its not that hard once you clear out the unnecessary stuff from your life. Stop buying stupid shit, spend only on necessities, and don’t buy from the big companies tied to Globo-homo.
Having no debt, living below your means gives you a ‘sense’ of freedom. A freedom that leads to having no fear. No fear means no power over you. This monster would die of starvation if we convinced enough stupid ass Murkins to open their eyes.
Hi Norman,
I think the property tax is far more evil than the income tax – and that’s saying a lot. My reason for so saying is that if one could own (truly own) one’s home and land – after having paid it off – one would not need to earn much income at all to live a pretty comfortable (and very secure) life. The property tax drains your income, effectively forcing you to earn more, so as to pay more taxes – forever.
And that is precisely why it is arranged this way.
Absolutely Eric,
The income tax doesn’t affect the very wealthy or the very poor. In fact the very poor get money back they didn’t even pay. I as a self employed person I pay double social security. I rarely pay much income tax as the profit on my business is always kept to a minimum with ease. It is the principle of the thing which grates most. They don’t need it at all, yet insist on it so they can use their Stazi IRS as a club to beat their enemies about the face and head.
Property tax is one of the most insidious things the owners ever came up with, going all the way back to the days of Kings. It punishes hard work, thrift, and generational wealth. A lot of people have to sell real estate given them by their parents because they cant afford the left right punch of property/ death taxes.
And worse, property tax takes your hard earned money and spreads it around to the local failed bureaucracies and their pets, all designed to further enslave us. If you doth protest you are a hater of women and children.
Exactly Eric! They can’t have the majority retiring in their 40’s instead of their 60’s or 70’s. Just drain them (taxes, insurance, col) so they can’t step off the treadmill.
Retired people with lots of free or unstructured time create lots of annoying problems for politicians. Much easier to make people busy with just trying to live vs. angry people at their doorsteps demanding answers for their bullsh*t.
Most people could retire in their middle years and enjoy life, maybe do traveling etc when you’re young enough to enjoy it (not saying old people don’t enjoy things). Instead of waiting for old age where you end up spending it in doctors offices and hospitals (draining more of your remaining wealth) due to the medical problems created by politicians.
My grand aunt and uncle managed to retire in their 40’s and both lived another pretty great 60 years. Probably because they managed to control stress and the like.
Ranking the type of taxes from most to least egregious, my list is:
1) inheritance tax
2) property tax
3) capital gains tax
4) income tax
5) sales tax
6) excise tax
7) “sin’ tax
#’s 1 and 2 are really, really bad: I mean, you’ve worked hard your entire life, *you’ve paid taxes* on all that stuff that leads to your estate, and you have to PAY TAX AGAIN! This is the #1 reason why family farms get broken up then told to Toll Bros/Ryan Homes/K Hovnanian/etc., etc., etc. Number 2 is pretty damn close due to the reasons Eric says. If you owned your home/property outright and your car, then you really wouldn’t need much cash at all, especially if you were a subsistence farmer. But that property tax keeps you slavin’.
Norman,
These days, when money has been divorced from any standard of value, taxes are about control and slavery, not finances. You are right- they print-up money out of thin air these days, and it has no intrinsic value, and then in addition to that currency devaluing what we already have, we also get to pay it back, plus interest, for the people who created/borrowed it- but they still must print more and more……
But the taxation of everything, from our labor, to our property, to our savings and investments, to a store’s inventory, to the value of the car we drive, means that people must all work 50% more than they otherwise would, to pay those taxes, and the government gets to snoop on everything their slaves do, -from how much they work, to what they buy, etc. all in the name of “keeping track of how much you owe”, even though your performing labor or owning a piece of property does not in any way create an obligation or liability for anyone else- but quite the opposite. (But do nothing except make a bunch of babies whom you can’t support- and that same government will be happy to take the money from those who have created no obligation and who live responsiubly by their own means, and give it to those who have created obligations which they can not fulfill!).
Nunzio,
It saddens me to no end how people know the price of everything yet don’t know the value of anything. From the leftist shit-bags I see haggling with the tomato producer at the farmers market, offering 3$ a pound versus the 4$ ask. Come on, anyone who gardens knows the inputs are high and the profits are lower. The land speculators continue to drive up the cost of what simply amounts to a place to park your cars, a warm place to shit, and a dry spot to lay your head down at night.
A home was never supposed to be some fungible asset, to be used as an ATM. I remember learning way back in history class that the Fed was created to eliminate boom and bust cycles, not manipulate them for their own personal gain. Yet here we are, at the cusp of the greatest bubble ever blown by those who like blowing things. The derivatives exposure is absolutely hilarious, as is the so called national debt. Couldn’t be paid in a thousand lifetimes, yet could be wiped off the books in a nano second with the stroke of a numeric entry, just as the recent student loan debt was.
What I produce with my mind and my body is mine. I like to share… When I find something or somebody worthwhile. But like your example about Laqwisha and her fatherless brood, I gave at the office over the last 40 years. little more will be forthcoming from me. I would rather burn everything I own than let these parasitical worms get a hold of any of it. After all its just stuff and I can always get more. To the people who get everything free, they don’t have a clue that nice things, in this life, require someone to bring them into existence. They have no soul and therefore don’t understand the concepts of creation, prosperity, and abundance.
The more the feds, state, and county come after the product of my existence the more I will withdraw into the corner at which point I will no longer voluntarily contribute. Since the parasite class fashions me a troll, I will crawl back under my bridge, sit by the softly running water and wait for the bodies of my enemies to go floating by.
The majority in our country are financial illiterates. As I read through the comments, Kens example of someone willing to pay 2 grand for their own electronic shock collar is not uncommon, I’ve seen many similar examples.
When I was a kid, we had some basic finance in junior high math on how to do a budget and how to keep a checkbook. Basic accounting in High school, taught all about assets and liabilities. I guess it served me well. I lived at or below my means for most years of my life. Its enabled me to get to a point of having lots of choices, just as the world improvers work diligently on a daily basis to take away my choices.
I’ll bet not five in a one hundred under 40 year old thinks in financial terms other than how much is the weekly or monthly payment.
The, “How much a month” club.
Oh so very very many times that subject came up in TheHousingBubbleBlog threads back when a person would sometimes be viciously verbally attacked for even suggesting the notion that housing was in a bubble. ~2004
Most notably because, people couldn’t afford it.
You were taught all about assets and liabilities,… since at least the 1990’s I’ll bet, most were only taught, ‘debt management’ as a key to prosperity & wealth.
More debt, is more wealth. Psft.
It’s turtles, all the way down.
Found a hatchling desert tortoise in my backyard yesterday Helot.
We’ve been eating more melons and tomatoes than ever, almost a melon every other day with no end in sight. a few days ago I noticed some of the overspreading vines coming out of the raised beds looked like crap. Almost powdery mildew like in their appearance. Couldn’t figure it out, but oh well its time for the unfinished melons to ripen up and move on. Last night in the dark, my dog was pushing something around with her noise, when I got over there the little bastard turned and tried to bite. The tiny turtle had been munching on our vines.
Not supposed to harm them as they became endangered years ago, although theres millions of em all over the dirt back roads, they often get crushed by big trucks. Guess we need to figure out where to make a ‘cave’ for this little guy, and figure out how we’re going to feed him, although I think they hibernate in the winter.
And yes the stuff about responsible finance hasn’t been taught in schools since the 80s. The five in one hundred ‘kids’ who know about it are the children of people like us, in places like this.
Turtle turtle.
If the average American “man” knew 5% as much about the Federal Reserve as they do about football, it’d be over tomorrow.
Michael, I used to have quite a number of those football fans you allude to, as friends. I did my best to try n open their eyes.
I Used To have quite a number of those football fans you allude to, as friends. …
https://mises.org/
I guess, they blew the end zone defense.
As I understand it 2/3 of all debt is heald by private sector borrowers. Every mortgage, credit card swipe n or personal loan is the creation of “money.” Mastercard is not loaning you$10,000.00 at 15%, Chase isn’t loaning you 300k for a mortgage. It’s all created by an entry in a computer screen with the promise to pay it back in labor units of ____.
To end the fed we would have to effectively stop all all usury which is not impossible but not likely either.
Bill cooper and Mark Passio have done some deep dives on the actual nature of modern currency. The short of it. Its imaginary word-spell-craft that almost everybody believes, so it creeps around in the guise of actual value in the minds of almost everybody, including myself. Athough to a lesser degree than most.
The fact that I still have a mortgage as my last remaining debt is concession enough to the beast system of debt slavery. I now avoid debt at all costs. The borrower is indeed the slave of the lender. Most of us have fastened the gold plated chains and fetters around our own necks and ankles then make excused as to why we “had to.”
There was a court case about this a long time ago…
Somebody went to court to try and prove they didn’t have to pay their mortgage.
They stated that the bank just created the money by tapping on a keyboard, but he had to pay back the full amount plus interest which was unfair.
the judge asked the bank if that was true….just created the money by tapping on a keyboard,….the bank said yes.
the judge said that sounds like fraud. the plaintiff didn’t have to pay the mortgage….lol
Re: just created the money by tapping on a keyboard….every time this happens the money supply increases, diluting the value of all money….causing inflation, it takes more diluted dollars to buy food or gas….
https://www.gold-eagle.com/article/what-money-printing
FORECLOSURE FRAUD REVEALED: YOUR MORTGAGE DOCUMENTS ARE FAKE!
https://www.occupy.com/article/foreclosure-fraud-revealed-your-mortgage-documents-are-fake
Yesterday on the Ron Paul Liberty Report, Dr. Paul read a statistic that said 80% of the existing U.S. dollars were created in the last 22 months.
Alabama, Pequot, Mississippi, Missouri, Iowa, Nebraska, Kansas, Arkansas, Oklahoma, Wyoming, Ohio, Illinois, Huron, Tennessee, Kentucky, Manitoba, Saskatchewan, Ottawa, Michigan, Ontario, Massachusetts, Manhattan, Minnesota, Wisconsin, Omaha, Delaware, Dakota, Allegheny, Algonquin, Appalachia, Tecumseh, Yosemite, Yakima, … all Native American words.
Can’t have a team named the Florida Seminoles, what were they thinking?
The Red Man influences the language and culture more than you know. Think about that!
Those words are worth a lot of money, more than the banking cartel could ever imagine.
If those words were to enter the dustbin of history, there would be a sea change in America, it would be teotwawki.
Money is okay, helps us get by in this world.
However, words speak volumes.
Many wampum for you.
White man speak with forked tinge (but especially the bankers, the lawyers, the corporations, and the politicians)
RE: “the bankers, the lawyers, the corporations, and the politicians”
I just watched this bit, they’re concentrated in those groups, due to the draw of the power therein:
‘Narcissist, Psychopath, or Sociopath: How to Spot the Differences’
https://www.youtube.com/watch?v=6dv8zJiggBs
It was an easy to follow video. forked tinge, indeed.
the leftist/communist take over
Don’t use communist fiat….
Using Fiat currency = the 5th plank of the communist manifesto
5. Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.
The Federal Reserve System, created by the Federal Reserve Act of Congress in 1913, is indeed such a “national bank” and it politically manipulates interest rates and holds a monopoly on legal counterfeiting in the United States.
This is exactly what Marx had in mind and completely fulfills this plank, another major socialist objective. Yet, most Americans naively believe the U.S. of A. is far from a Marxist or socialist nation.
This is caused by the UN, environmentalists, organized by WEF, Klaus Schwab, to wreck the economy on purpose with a many pronged strategy to get us to call for indenturement, slavery.
By the way, Schwab’s mother was a Rothschild, the same family that owns the Federal Reserve: they’re all in it, for the crash.
https://www.zerohedge.com/markets/rabobank-michael-burry-warns-economy-looks-house-cards-and-he-right
The information in G. Edward Griffinās book The Creature from Jekyll Island, was stolen from Eustace Mullins the researcher/author, he spent many years reading congessional notes to dig up material to write about, reveal.
He was so good they got rid of him.
āEustace Mullins in his book The Secrets of the Federal Reserve, in which he displays charts connecting the Fed and its member banks to the families of Rothschild, Warburg, Rockefeller and the others.
āThe control that these banking families exert over the global economy cannot be overstated and is quite intentionally shrouded in secrecy. Their corporate media arm is quick to discredit any information exposing this private central banking cartel as āconspiracy theoryā. ā
Woodrow Wilson bitterly regretted the bribe he took for his role in creating the Federal Reserve: āI am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men.
We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world ā no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.ā
Many pundits love to explain that the Federal Reserve is a partnership between the private banks and the Federal Government.
Bull biscuit!
the FedāSome people think that the Federal Reserve Banks are United States Government institutions: they are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders,ā clarified the Honorable Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s.
Pity the poor soul that believes the Fed is playing by the Federal Governmentās rules! The only rule the Fed knows is the one that enriches its secret and not so secret members, regardless of how it destroys the US economy.
āMost Americans have no real understanding of the operation of the international money lenders,ā revealed Arizona Republican Senator Barry Goldwater in the 1950s. āThe accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States.ā
According to Forbes, the Federal Reserve in 2008 alone ā under the oh! so responsible watch of Ben āHelicopterā Bernanke ā single-handedly allocated āover $16 Trillion to corporations and banks internationally, purportedly for āfinancial assistance.ā ā
Other sources put it at close to $30 Trillion, twice the size of Americaās GDP. And none of that money has been accounted for. These transactions were only discovered after a āquick auditā that then Congressman Ron Paul miraculously managed to squeeze out of the Fed when he was beating the drum trying to get Americans to pay attention to the secretive bank.
So who really got all that money? Was it only $16 ā 30 Trillion? And how much money has actually been stolen since the founding of the Federal Reserve? No one knows. Not even Congress. And no politician would even utter a word about it. Plus notice how such brazen thievery did not get any play in the mainstream media.
History of the Western Banking Dynasty – Eustace Mullins
https://www.youtube.com/watch?v=nf5JLVefhZk
The curse of canaan by Eustace Mullins
modern day leftist liberals
https://www.youtube.com/watch?v=rxGt4N7SsBM
The #1 movie of all time, The Wizard of Oz is about the transition from the gold standard to the greenback. Dorothy (in the book version) is wearing silver slippers (silver standard) who walks along the yellow brick road (gold standard) to Oz (ounce of gold) to the magic land of greenbacks (dollar standard = Green Munchkins).
Dorothy is accompanied by the Tin Man (iron workers), the Scarecrow (farmers), cowardly Lion is the allegory for William Jennings Bryan.
“DorothyānaĆÆve, young and simpleārepresents the American people. She is Everyman, led astray and seeking the way back home” – wikipedia
The Emerald City = Washington, D.C (the magical land of free money)
The Wicked Witch of the East = New York banksters
https://en.wikipedia.org/wiki/Political_interpretations_of_The_Wonderful_Wizard_of_Oz
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Anyways, the real crime of the Fed is that hard work and thrift, those who do honest labor for a fixed income are being ripped off by the magic of inflation – and that wealth is transferred to those who have borrowed money.
Thus the Fed is the great engine that transfers wealth from the productive hard working Americans to the worthless political scum and those in debt. Those leveraged in debt have gotten filthy rich, and those who actually worked got screwed and impoverished.
The end result of 100+ years of this fraud is Joseph Robinette Biden, Jr., current unelected fraud, who threatens the common man (trump supporters) with F-15s. Make no mistake people, career political scum pedo Joe is the fruit of the Federal Reserve System. The worst of the worst elevated to the top of the D.C whorehouse shit pile. Not an accident, the inevitable result of monetary inflation.
Central Banking, without a doubt, is the greatest monetary fraud in history. The Fed is a crime scene. They locked up our gold and then issued us fraudulent fiat money that loses value every year.
“By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.” – John Maynard Keynes
——————
quoting Eric “It is not necessary to go into debt.”
That’s me, I never went into debt, never had a credit card, built homes from cash, bought used cars from cash. And the result was me driving an old car and living modestly compared to all those borrowing for everything.
—————
‘Why oh why’ you might ask did I live my life that way. Ethics and morals, I simply will not play along with the debt fraud. It is just wrong to buy a house for $350,000 on credit expecting it to go to $550,000 and getting rich. Where in the hell did that wealth come from? From all those who working and saving. Getting rich through debt makes you complicit in the monumental fraud.
‘The end result of 100+ years of this fraud is Joseph Robinette Biden, Jr., current unelected fraud, who threatens the common man (trump supporters) with F-15s.’ — Yukon Jack
Kindra Hall writes in Choose Your Story, Change Your Life:
‘The moment Dorothy slipped her feet into the most sparkly, glittery pair of red slippers I’d ever seen, I gasped aloud. They were real rubies. I knew it. It was all real.
‘And then came the moment I’d waited for. Glinda pointed her wand to the floor of the stage and said in a voice as sweet as the curls in my pigtails, “Follow the yellow brick road.”
‘And there was nothing there. No bricks. No stones. No paint. No brick-shaped stickers. Not even a few scraps of yellow and orange construction paper. Nothing that even resembled a yellow brick road.
‘I stood up in my chair and shouted in my loudest outside voice:
“There is no yellow brick road.”
Manipulating the currency to manage the eclownomy is the ultimate illusion. People think their houses ‘go up’ in value, when in fact the real value of shelter is essentially static, as it should be. But the Emerald City devalues the currency, and gooses house prices with gov-subsidized mortgages, and lo and behold, 1-bedroom cottages sell for multi-millions in Commiefornia, if they’re close to the beach.
Unfortunately the show is ending now, as the Federal Reserve’s water organ plays lugubrious chords. Sorry, folks, if you got caught up in the artificially-induced frenzy.
A new regime is in effect now: survival. Gather ye firewood whilst ye may.
Yes, the real estate market pundits are saying the crash cometh.
https://www.youtube.com/c/ReventureConsulting/videos
The problem with debt is that it can go from frenzy to self liquidation, inflation encourages speculation, decades of inflation and real estate cycles can cause a blowoff frenzy, as everyone has this inflation thing figured out and decides to leverage themselves to get rich quick. But naysayers like me say, what happens when everyone gets on one side of the boat?
The have flipping real estate shows and No money down best seller books. How it all ends is anybodies guess, but the general consensus is that one day it does end in a massive deflationary crash. That seems to be now, as the Fed is determined to raise interest rates to stop inflation. But, everytime the Fed does capitulate and interests then drop back down (to zero) causing the cyclical generational boom to continue. But one day, the supercycle wave does end.
I watch this whole shit-show with amusement and horror. For one thing, I happen to know most real estate agents are loaded to the hilt themselves, they typically snap up undervalued properties until they are choking on them like a chipmunk who is trying to stuff one last acorn in its cheeks.
So what happens when wall street and main street and the real estate speculators figure out the game is up and interest rates are going up, up, and away? Panic to get the hell out.
People don’t understand the hugeness of the scam, for one thing the county tax collectors love it when real estate goes up, because the levy rate is multiplied by valuation. Banks love it. Builders love it. Appraisers love it. Real estate firms love it. I was told a month ago that a booming county in Idaho, 1 out of every 8 people was a real estate agent.
Everyone is “all in”, “fully loaded”, “leveraged to the hilt”, until the whole shebang rolls over and reverses in a epic tidal wave of selling to get out. Unlike wall street stock speculation, you can’t buy an option to protect against falling price. Thus right now all kinds of properties have had price reductions, many huge, just peruse Zillow. And the Fed says more rate hikes coming.
I live in east Idaho. I’m sure the county you are speaking of is in western Idaho, but it’s crazy here too. I have been watching the shitshow in real time. 42 houses in Bonneville county–the most populous county in east Idaho–for sale in March. Over 500 in the same county today. They are still building! One subdivision will have over 100 cookie cutter homes for sale by spring. Who the fu*k is buying them?
By my observation, very few people are buying anything right now.
It’s mind blowing.
‘So what happens when wall street and main street and the real estate speculators figure out the game is up and interest rates are going up, up, and away? Panic to get the hell out.’ — Yukon Jack
A chart from the Financial Times shows what happens when the inventory of new homes for sale rises to over 10 months supply. With a lag of about 18 months, unemployment soars, marking a deep recession. It’s happening again, right now:
https://ibb.co/ZLV1Z67
The Federal Reserve helped blow this real estate Bubble by purchasing Mortgage Backed Securities. Hopefully, after the coming smash, both QE and MBS holdings will be banned. Only fedgov bureaucrats could eff up on such a cosmic scale.
There really are two issues raised in this article:
1) The Federal Reserve
2) Borrowing generally
The Fed should not exist. It manipulates interest rates, which sends false signals to savers and borrowers, causing the boom/bust business cycle. Its money creation imposes a stealth tax that steals people’s wealth to make wars and other stupid government programs appear to be cost-free. It transfers wealth to the politically connected.
But borrowing in itself is not necessarily a bad thing. It allows people to have big-ticket items now instead of having them later ā sometimes much later. This can be especially important to someone who is trying to start a business that requires expensive equipment or a lot of inventory. By using the tool of credit, an entrepreneur with a good idea can be satisfying the preferences of consumers sooner, which is good for everybody.
And even if everybody is content with a $150,000 house, few people have that much in the bank until they’re almost dead. How many want to wait that long to own a modest home?
Interest is not the price you pay for money; it is the price you pay for time, which is something that none of us has an unlimited supply of. As for buying something silly that you don’t really need, whether you put it on the card or pay cash doesn’t matter too much. It’s stupid either way.
Another distortion of the true cost of credit is the monthly payment. I still remember buying my first car, and the salesman ācrunching the numbersā to see what I could afford. He throws out a number based on a four year loan. I multiply it by 48 and find out the loan is more expensive than the vehicle.
But thatās how it always goes. Mortgage brokers ācrunch the numbersā and inevitably will approve a ridiculous amount for a preapproved mortgage, which puts that number in the buyerās mind for what they should expect to pay, along with the real estate agent, wife and everyone involved.
Remember also that, hot on the heels of the Fed’s creation, came…income tax.
ft,
And about the same time, the 17th amendment, which ended the republic.
https://datalab.usaspending.gov/americas-finance-guide/spending/
US gov spent 6.82 trillion in 2021.
6,820,000,000,000/330,000,000 = 682,000/33 = 20,666.67 dollars per capita
Divided by 365, The US gov spent 18,684,931,506.80 USD each day in 2021. Puts those whirling dervishes to shame.
392 billion USD was interest paid to lenders.
In 2021, the government had revenues of 4.05 trillion.
6.82 trillion spent, 4.05 trillion in revenue, a negative of 2.77 trillion dollars further into debt. Add on the 392 billion, somebody is making some money.
Not even the govs money, might as well spend as much as the gov can and more, the gov ain’t paying itself, the money comes from someplace else.
Not only do you pay taxes, but the government pays lenders interest on money borrowed, all of the poor slobs out there in America fund the banksters via taxes.
Crooks and Liars, Inc owned by Engulf and Devour Corporation.
Biden ain’t all there, gone and not going to come back.
By raising interest rates, ostensibly to fight inflation (the inflation they, themselves, have caused), they’ve effectively fucked me out of selling my house quickly and for a nice profit. Just when the market would’ve worked for me for once, they had to step in and make damn sure THAT didn’t happen. Even though the market fundamentals are still there, i.e. there is still am acute housing shortage and people need a place to live, there are very few buyers.
My real estate agent calls this a “buyers market”, but it really is not. Sure, the buyers who are there get their pick of the still few houses that are available, but there are so few able to buy anything because they can no longer qualify for mortgages. Mortgage rates follow the Fed’s interest rates, and what follows is that I’m screwed for the time being. I’m now living somewhere between this Hell on Earth (Phoenix) and the land of my destiny.
Meanwhile, the federal government and its banker-enablers don’t give a good goddamn how much borrowing money cost. They are never disqualified from borrowing from the Fed, though they very well should be. We don’t get to increase the limit on our credit cards ad infinitum. Thus, raising interest rates is no way to limit inflation. The primary villain in that story is undeterred.
Hi BaDnOn,
You are correct – the inflation that they caused, because they needed an excuse to increase interest rates. The Fed has $8.7 TRILLION dollars of US Treasuries they desperately need to get off their balance sheet. Apparently, other countries and businesses realize that a ROI of 2% isn’t peanuts so higher interest rates are needed to sell the debt.
The thread that is holding the USSA, China, and Europe’s financial markets together is starting to unravel quite quickly.
Hi RG
Back to 2008…lol
In the 2008 financial crisis in Iceland they say you could hear explosions in the middle of the night, people were going broke, everything crashing (we are back there now, stock market, crypto and real estate are crashing right now), so to escape high payments on their Landrover SUVās they would light them on fire, you could hear them blow upā¦.lol
check this outā¦.
Watch a Tesla owner blow up his Model S with 66 pounds of dynamite instead of paying $22,000 to repair it, replace the batteryā¦lol
https://www.businessinsider.com/tesla-owner-blows-up-car-instead-paying-repair-battery-video-2021-12?op=1
that video has been seen 5 million + timesā¦.lolā¦.someone said that would pay $41,000 from Utube, so he could afford to blow it upā¦.
This solves a recycling issue, the lithium fire bomb batteries won’t be catching fire, over and over for a week…lol
Create money out of thin air and loan it out at interest. The perfect racket.
“There ought to be law”
There is. The Federal Reserve Act of 1913. Which created it.
Yes. And before that there was the Constitution. Any supposed law passed since then that violates the Constitution is automatically null and void. The Federal Reserve Acts violate the Constitution, giving the money power into private (jew) hands. Thus, automatically, null and void. But most of our people have been so ignorant and cowardly, the enemy got away with it. Likewise, they get away with all the other massive crimes against us, such as denial of basic rights of assembly, travel, and commerce over their fake covid virus. That was the most recent capital-punishment offence, before the poison “vaccines.” But the ignorant and cowardly population let it happen.
Note: No government on the planet has a sample of the supposed virus for honest scientists to check. Never had a sample. It’s all lies. If they ever had a sample, they could have made as many copies as desired by using the PCR technique for what it was invented to do. PCR not a “test.” I’m sharing verifiable knowledge, not opinion, not belief.
It IS the perfect racket, Mr. Kable. No one has ever satisfactorily explained to me why the federal government itself can’t regulate the money supply, without having to pay some private entity interest. Oh, there’s typically some banter about how the Fed buys treasuries and bonds and there is some smoke-and-mirror poppycock about how the bank borrows from the bank to pay back the bank, but it really just still eventually amounts to a private entity making credit out of nothing, which, in turn, eventually buys real assets.
But WE can’t do anything similar, because that would be counterfeit!
Bad,
There’s not a damn thing illegal about the government printing its own money, other than that pesky Constitutional legal tender thing, and not paying ANY interest on their excesses. The only reason for the Fed is so banks CAN collect interest on those excesses.
FedGov is still paying interest on “money” borrowed for WWI. Just a few years after the Federal Reserve Act. How convenient.
Don’t know if it’s true or not, but I seem to remember reading that was one of the reason’s JFK was murdered, that he realized the government could print money just as easily as the Fed could, without the interest.
John,,, Fiat Money (bills of credit) is not authorized by the constitution.
In fact it was struck from the constitution when the founders in a soft coup overthrew the Articles of Confederation which DID in fact authorize fiat money.
Later the Supremo’s agreed that true fiat (a bill of credit with no backing) was somehow constitutional. Of course Dred Scott and abortion was also found constitutional proving the court is not only political but highly political. As we have been completely propagandized in our schools and justice system,,, anything those nine folks say is gospel.
Today not only does the Central Bank miraclize money out of thin air,,, so do banks which is why banks don’t beg for savings accounts like they used to. You buy a house or car for $100,000 the bank simply makes an entry into their ledgers and voila! the hundred thousand is there! Of course you pay them back with interest from earned fiat.
Banks usually fail because they make “too many bad loans” but what they don’t say is the bad loans are usually made because of some federal mandate to make getting loans “more fair” to those that would disqualify in the first place.
Sage advice from my father, “If you live beneath your means, you always have money. If you live above your means, you never do”. And, “don’t go into debt for things you don’t have to have”.
I’ve avoided debt like the plague it is. I’ve been debt free for near thirty years, since I was 40. I don’t even HAVE a credit rating because of that. Which by the way is probably something one should note on one’s resumes, since potential employers look at such things. It’s really nice to be able to tell your employer, Fuck You. Given a strong work ethic, they need you more than you need them. If you are debt free, or are carrying it at a minimal level. I’ve lived in some really crappy houses, grew up in a trailer, and didn’t live in a reasonably decent one until I was 55. But I always needed my employer less than they needed me. I even had an employer once tell me, “I wish you had a bunch of kids and a new house and car. It’s hard to handle someone who has nothing, wants nothing, and doesn’t give a fuck”. Indeed.
Further thoughts. He who has nothing, but wants nothing, has everything. He is richest whose pleasures are cheapest.
Hi John,
This: “I wish you had a bunch of kids and a new house and car. Itās hard to handle someone who has nothing, wants nothing, and doesnāt give a fuck.”
Ought to be inscribed in granite somewhere.
Eric,
It sort of is, as in my rapid approach to my maximum expiration date approaches, my brain is ever closer to become granite like.
See, i just demonstrated it with my sentence structure.
āI wish you had a bunch of kids and a new house and car. Itās hard to handle someone who has nothing, wants nothing, and doesnāt give a fuck.ā — John Kable
Absolutely poetic, John. Dylanesque, even:
You used to be so amused
At Napoleon in rags and the language that he used
Go to him now, he calls you, you can’t refuse
When you ain’t got nothing, you got nothing to lose
You’re invisible now, you got no secrets to conceal
How does it feel
How does it feel
To be on your own
With no direction home
Like a complete unknown
Like a rolling stone?
— Bob Dylan, Like a Rolling Stone
One of my favorite Dylan tunes, right along with Idiot wind. Though Hendrix did a better job of it.
**” I even had an employer once tell me, āI wish you had a bunch of kids and a new house and car. Itās hard to handle someone who has nothing, wants nothing, and doesnāt give a fuckā.”**
That seems to be the mantra of politicians too.
I’ve always considered myself to be very lucky, in that I was raised to never even consider debt as an option; It’s easy to live below even my modest means, because we were quite poor when I was growing up, yet always very happy and lacked nothing. I’ve always enjoyed the simple pleasures in life, and considered all of the fancy toys as nothing but albatrosses and distractions and shackles. Keeping my income below taxable level is equivalent to only having to work 50% as much for the same income. Never found a girl who appreciatyed these things when I was younger, so said “screw it”, and now have come to realize what a blessing THAT was!
I essentially figured out what your employer noted: I am uncontrollable. It takes very little effort to support a simple life. Time is our most precious commodity and I will not trade it away for numbers on a page or fancy things which offer no more true value than the things I already have or don’t even need. I can’t be tempted by money, women nor power. I’ve been having a great life with more freedom than most people currently alive will ever know. I have zero regrets; I’m a happy man.
‘Shame they don’t teach that in schools- ‘speically not the colleges which people go in debt to attend- but rather teach just the opposite; the way of the rat-race and enslavement; of always working today for a reward for a tomorrow…a tomorrow which often never comes.
Nunzio,
To quote Thoreau, “survival is a pass time”.
Very good article, Eric. I have two main thoughts I’d like to share.
1. “Disconnect” from the system. That’s not enough. Ask the real Russians and real Ukrainians during the jew-led Soviet Union how much good “disconnecting” from that system would have done them. They were simply killed, 100 million of them.
2. What Griffin doesn’t tell about the Fed — because his job is to function as a limited hangout to distract from the works of Ezra Pound, Eustace Mullins, and a few others — is that the Fed was established and is owned by jews. The Schiffs, Warburgs, Rothschilds and a few others, with the Rothschilds at the top.
The other day, someone put a comment under my comment and said he or she was “part jew” and didn’t understand the focus (including my focus) on jews. Ridiculous. But on the one-in-a-million chance that the commenter was honest, he/she ought read, just for starters:
* The original Magna Carta, in the early 1200s, in which jews were cited for their financial skullduggery.
* King Edward 1 of England and his expulsion of the jews, 1290, and WHY.
* 1543 The book written and published by the mature Martin Luther: “On the Jews and Their Lies.”
* 1492 Queen Isabella and King Ferdinand expelled the jews, and read WHY. As always with the jews, the ritual murders of White children, child-sex trafficking, robbing people and the government in every way imaginable.
* Thomas Jefferson’s letter in which he agreed with the person who wrote a letter to him citing the jews’ “vile Talmud,” etc.
* 1920-1922, Henry Ford’s book of assembled newspaper articles: “The International Jew: The World’s Foremost Problem.” This book details jew control of many commodities, historical crimes, their network of control in New York City and elsewhere in the USA. Christians will like this book even more than most because the book is very pro-Christian throughout.
Notice that I didn’t get to Adolf Hitler yet!
Yes, Mein Kampf is an excellent source, written and published AFTER Henry Ford’s truthtelling efforts. I recommend the Stalag Edition of Mein Kampf.
* Since then, read Gen. George Patton’s diary entries from 1945, which are on the Library of Congress website but not well organized and viewing is a bit laborious. Or read honest articles presenting the best quotes from those diary entries.
* And read some of the Eustace Mullins books. I say “some” because some are very specific about jews and some others don’t mention jews at all.
* Click to Chuck Maultsby’s website. Just the homepage will make anyone with a brain “understand” the focus on jews. http://user1252122.sites.myregisteredsite.com/
Yes, I could list many more. The jews don’t dispute the facts. Instead, they focus on character-assassination of us. They demonize us. They lie, of course, about us.
“Disconnect”? Others have said this before me: “You can vote your way into Communism (which is jewism); but you can’t vote your way out.” Our duped ancestors did that voting before we were born. The military veteran I heard say this added that we’ll have to shoot our way out.
Agreed.
Good stuff, as usual, JBL!
I don’t get these people who take offense.
I likely have a little Jew blood in me too- but why would I take offense in the mere acknowledging of a simple fact- i.e. that the Cabal which has been working for centuries to establish a NWO is at the highest levels made up of Jews? It would be like denying that the Mafia is Italian merely because I am Italian.
They call us “racists”, yet they are the true racists, because they would gladly deny indisputable facts just so as to absolve the clan with which they identify of any guilt- thus turning things ass-backwards and trying defame those who tell the truth, while justifying the perpetrators of evil.
Thank you, Nunzio. Question: Why would you “likely have a little Jew blood” in you?
J,
A relative did a little genealogical digging and found that some Jews who had converted a few centuries ago were in my grandmother’s fambly tree (Appropriately, her maiden name was Davide” š ). Plus, ya know what they say- “There’s a little Jew in every Italian” (I hope it’s not Woody Allen!).
Despite the Italian and Jew thing though, I think I managed to become white by osmosis! (Unfortunately, one of my sisters went the other way…I think she could qualify as a nigger! :D)
Nunzio, thanks for checking back and answering.
(Note: I won’t be coming back to this comment thread.)
You can cite all of “sources” you want about “the jews.” It’s not going to change the fact that most people whether or not they are Jewish have anything to do with the power structure today. The people in charge may trace their origins to “the jews” or the Bolshevism of a good number of them, however, I absolutely detest painting every person with any particular skin color, race, religion or whatever with a broad brush.
It is like saying that every white person is a racist when the vast majority of them alive today had nothing to do with Jim Crow, Jim brown or anything else that occurred years back.
I have no doubt that Bolshevism, Central Banking and all of the other ills in modern society were possibly or for the sake of argument, were of Jewish origin, but certainly those things have picked a lot of adherents of all races and religions. There are also a lot of Jewish people who despise the things you noted, as do I.
Since I have an open mind, I would consider reading any of it. I probably would agree with a vast majority of it, and view certain actions as necessary, but I am not going to ever buy that the idea that ALL people of a certain race or religion are bad people and deserve to be shot or killed. Of course, I don’t remember you saying that, so there’s that.
The new Jews today are old people, they were first in line for elimination in the bat germ narrative, next are white people, the conservative ones first.
Starting this month, the Fed plans to shrink its portfolio of Treasuries and Mortgage-Backed Securities by $95 billion per month … that is, a $1.14 trillion annual reduction of current assets totaling $8.8 trillion. They call it QT: Quantitative Tightening.
Question: if four successive waves of QE (Quantitative Easing) over the past 13 years produced a global Everything Bubble (stocks, bonds, property, crypto, cars, collectibles), then what will QT do?
If you answer, “launch a Depression that will curl your hair,” you’ve got my vote! š
‘If we avoid the thing that drives the āFedā ā which is debt’ — eric
Many don’t realize that the Federal Reserve itself is drowning in debt. Its balance sheet is leveraged 184-to-1. See for yourself in the Fed’s weekly H.4.1 report:
Federal Reserve bank credit (top line) . . . . . . . . . $8,796,925 (millions)
Other liabilities and capital (3rd line from bottom) . . . 47,780 (millions)
https://www.federalreserve.gov/releases/h41/20220901/
But wait … there’s more. Yields on Treasury debt held by the Fed have risen sharply this year. Accordingly, Treasury prices have declined by double digits in longer maturities. Pull up a chart of IEI, which holds 3 to 7-year maturity Treasury notes (roughly representative of the Fed’s assets), and you’ll see the price decline from 131 a year ago to 117 today.
But with 184-to-1 leverage, this price decline makes the Federal Reserve insolvent, with a negative net worth — same as you or I would be after purchasing a $184,000 house with only $1,000 of equity, then seeing its price decline to $164,000 (= $19,000 underwater).
Is this a problem? Why, no! Conveniently, the Fed values its bond portfolio at purchase cost. They don’t mark it to market.
Even more conveniently, the Fed sets it own accounting rules. No GAAP, FASB and SEC for us! (Sources of generally accepted accounting principles.)
And still more conveniently, the Fed is not audited by any external organization. Yes, folks, we audit ourselves. Honest as the day is long!
Can anyone possibly conceive of a more potent, conflict-of-interest-ridden recipe for absolute, hellish corruption?
Hi Jim,
What I loved most about Ron Paul was his determination to audit the Fed. Unfortunately the PTB made sure that never happened, and probably never will.
Hi Jim
According to Forbes, the Federal Reserve in 2008 alone ā under the oh! so responsible watch of Ben āHelicopterā Bernanke ā single-handedly allocated āover $16 Trillion to corporations and banks internationally, purportedly for āfinancial assistance.ā ā
Other sources put it at close to $30 Trillion, twice the size of Americaās GDP.
And none of that money has been accounted for. These transactions were only discovered after a āquick auditā that then Congressman Ron Paul miraculously managed to squeeze out of the Fed
when he was beating the drum trying to get Americans to pay attention to the secretive bank.
The fed allows the fighting of constant wars – such as post WWII
The fed “grows” the economy by devaluing the $ at 2% per year, then calls the price increase growth vice actually producing more.
Under a constant money system, more stuff competing for the same $ = lower prices
We have lost the idea to live within one’s means. Borrow very little or you become a debt slave. Debt slaves can be controlled easily, like get a job or get fired.
How many people claimed to be forced to jab to keep their job?
A person with no debt does not make that claim.
Now the oligarchs know they can make you do just about anything for fear of becoming homeless.
Dan,
The only things that can stop an economy from growing is natural disaster, and government interference. The latter could be described as part of the former.
Given a commodity based currency of constant value, every thing gains quality, and availability at ever decreasing price. There would be no need for interest rates at all, as the money borrowed, or loaned, would be paid back with money worth more than the loan.
See also:
‘Digitizing Your Identity Is the Fast-Track to Slavery: How Can You Defend Your Freedom?’
“Moreover, if we are going to defeat this long-planned, complex and multifaceted threat, we must defeat its foundational components, not delude ourselves that we can defeat it one threat at a time or even by choosing those threats we think are the worst and addressing those first.
This is because the elite program, whatever its flaws and inconsistencies, as well as its potential for technological failure at times, is deeply integrated so we must direct our efforts at preventing or halting those foundational components of it that make everything else possible. This is why random acts of resistance will achieve nothing. Effective resistance requires the focused exercise of our power. In simple terms, we must be āstrategicā.
If you are interested in being strategic in your resistance to the āGreat Resetā and its related agendas, you are welcome to participate in the āWe Are Human, We Are Freeā campaign which identifies a list of 30 strategic goals for doing so.” …
https://www.lewrockwell.com/2022/09/no_author/digitizing-your-identity-is-the-fast-track-to-slavery-how-can-you-defend-your-freedom/