By: Gary D. Barnett
“Sneaky and underhanded, the Federal Reserve has been sucking the life blood out of the United States since 1913. Like a black widow spider, it weaves a web of corruption and deceit. Unknown to its prey, the FED’s bite is poisonous, deep, long-lasting and brings financial upheaval and misery to Americans.”
~ Jim McCarthy, The Money Spiders, the Ruin-NATION of the United States by the Federal Reserve
As difficult as it may be to imagine, the above quote is actually understated. The Federal Reserve, and fractional reserve banking, (now zero reserve banking) are the tools of the most evil and prolific tyrants. Control by the few of the ‘money’ and monetary system, is the epitome of total control of not only this atrocious governing system, but of the entire nation. The harm caused by this control, unbridled money printing, and manipulation, certainly is deep, long-lasting, and brings financial upheaval, but it also causes harm far above what is considered by the average American. It is the impetus of the massive wealth transfer into the hands of the few, it is the sole cause of hyper-inflation, it is the facilitator of aggressive war, it is the cause of the psychological and financial destruction of the citizenry, it is the cause of world conquest and the devastation of non-compliant nations, and its policies lead to the complete impoverishment of not only this population, but all others targeted in the effort to globalize rule.
The only positive aspect concerning this corrupt and criminal operation, is that by its very nature, it is bound to eventually fail. This imminent failure usually signals the end of an empire or dynasty, but this does mean that a corrective restructuring of the financial system will result. Most will not recover, at least not in the near term, but those who are prepared and are able, if willing, have the opportunity to survive and rebuild society without the pitfalls of the past. But this rarely if ever is the case. One would think that this rebuilding effort would be cognizant of the harm caused in the past due to allowing a nationalization of the monetary process, but that has rarely been understood, and even when the centralized federal reserve system was eliminated, it has always been allowed to return.
The history of banking in the United States is replete with attempt after attempt to nationalize banking. This is the natural tendency of all those seeking to increase the power of the ruling class, by controlling the money and monetary system in a fascist government and private banking partnership. As early as 1781, the Congress of the Confederation established the Bank of North America, which was a commercial bank that acted as the sole fiscal monetary agent for the U.S. government. This was a private banking monopoly similar to the Bank of England, meant to be used to finance the Revolutionary War. Since that time, most all wars, and certainly all wars in the modern age, have been able to be waged due to funding by national banks of federal reserve systems. In other words, aggressive U.S. wars, which are most every single war ever waged, could not have happened without the national control and unlimited printing of money.
In 1791, Congress chartered the First Bank of the United States, a bank owned by the government and private shareholders, It was the national bank until 1811, when it lost its charter. In 1817, the Second Bank of the United States was chartered, because during the War of 1812, the U.S. created monstrous inflation attempting to finance another war of aggression. Treasury borrowing was hampered, so nationalization of a U.S. bank was sought. Private bank opposition to a national bank during this period was exploding, as gold and silver were considered the only real money, so national banks were not popular, and properly seen as the reason for corrupt banking and inflation. President Jackson in 1833, signed an executive order that ended all government deposits into the national bank. This set the stage for the “free banking” era that lasted from 1837 until 1863.
In 1863 and 1864, Congress, under the guise of ‘correcting’ free banking, passed the National Banking Acts of 1863 and 1864, which created national banks, and encouraged a national ‘currency’ backed by U.S. Treasury holdings. This was used to retire (eliminate) debt issued to finance the heinous Civil War. State banks were subsequently taxed, (penalized) to force more nationalization of private banks, and the era of investment banking began, as large scale selling of treasury bonds to fund war, netted huge amounts of money for the corrupt Treasury.
This article is not meant as any exhaustive study of banking, but sufficed to say, eventually in 1913, the Federal Reserve system was created and passed into law by Congress, setting up the total control of money in the hands of the powerful few; those who also control this government. This led to the end of the gold standard, the destruction of the value of the dollar, continuous aggressive war, massive debt beyond the imagination of any sane thinker, and has led to our pending financial collapse. Some would argue that the status of the dollar as the world’s reserve currency is not at risk currently, but that in my opinion, is a very misplaced analysis. The risks we face due to the collapse of banking and the dollar are not only real, but imminent as I see it.
The Federal Reserve and banking in general, cannot continue to create money (debt) out of thin air, but what choice do they have given the financial debacle they and this government have created? The debt is completely unbelievable, massive banking defaults are imminent, and the dollar will be devastated and destroyed at some point in time in the not so distant future. Countries around the world including China, Russia, India, Turkey, parts of Europe, Iran, Brazil, and many others, are abandoning the dollar. This trend will not lessen; if anything, it will increase. Bonds are at great risk, and interest rates are going up. This spells disaster for banks, financial markets, pensions, and the currency. All this financial chaos will also lead to not only bank defaults, but also to broad-based defaults of businesses and corporations, adversely affecting every aspect of this economy.
Considering the Fed and banking, a policy of 100% reserves are necessary in order to fix this corrupt system, which would mean the end of the Federal Reserve and easy money. That will never happen unless a complete collapse occurs, as the people will not accept, and therefore not demand, the end of this governing system and its control of all money and monetary policy. At this point in time, the dependence of this population on government and its fake money, is nearly universal in nature, so mass indifference by the proletariat will continue until a total failure is evident, and then it will likely be too late to correct in any manner that would partially salvage this economy.
We are on the verge of national bankruptcy, and only an awakening miracle can stave off disaster. Real and natural money in the hands and control of the people is imperative if this country and freedom are to ever again reign supreme. Without that awakening and understanding, monumental chaos, civil unrest, mass poverty, increased food shortages, total surveillance, and martial law in a police-state environment, are possible. This can be avoided to a great extent by individuals taking responsibility for themselves, saying no to government, and standing together en masse against this criminal and immoral system. Do the people of this country have the courage to help themselves instead of hiding from the truth? I guess we will soon find out what this country’s people are really made of, and if they have the resolve to end this tyranny.
“Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the state.”
Carl Menger
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