Some
of us are aware of the dubious history of the Federal Reserve (Fed).
That its establishment was ill conceived and its performance throughout
its existence has been a disaster for our country is well documented.
But, self serving politicians will not do what is necessary to
disestablish the Fed because it serves their political interests to keep
it in place. Over the years some honorable politicians have sought to
but failed to educate fellow politicians and the public about the
dangers the Fed poses to the fiscal health of the nation. Most
politicians and the media have chosen to ignore, and still do, the
danger signals that periodically crop up. The Fed is okay with the
status quo because it serves their financial interests along with the
interests of its extended national and international banking partners.
Congress established the Fed as a privately owned banking cartel with
control over our nation's monetary policy. That, among other things,
is what enables our government to borrow, borrow and borrow more to fund
its endless stream of spending programs. The Fed has enabled the
federal government to amass a publicly acknowledged federal debt of
nearly $17 trillion (the entire federal debt liability,
however, exceeds $100 trillion). That debt accumulated by the
government is a liability resting on the backs of all American taxpayers
now and into the far future. The below link is a presentation by
Congressman Louis T. McFadden delivered on the floor of the House of
Representatives on 10 June 1932. It provides considerable detail
regarding the whole scam that is the Federal Reserve. His observations
were right then and are much more so today since things have
significantly worsened over the intervening 80 years. It is lengthy and
will take time to read, but it will be time well spent. So, pick a time
when you have at least an hour.
George Burns
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