Emc2
07-05-2005, 01:28 PM
Debunking Debunked
<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p> </o:p>
FACTS: The Fed is not directly privately owned. The 12 member banks of the Federal Reserve hold stock without voting weight. The 12 member banks are privately owned. No matter how large the bank or how much capital is paid in, each Federal Reserve Bank has one vote. The stock cannot be sold or traded. Stockholders are subservient to the central board. The Fed is not directly politically controlled either. The Federal Reserve System is an association of the large commercial banks which has been granted special privileges by Congress. It is, in effect, a CARTEL protected by government.
<o:p> </o:p>
FACT: The Federal Reserve Board of governors is not ‘publicly’ appointed in that the people do not choose the members. The 7 members are appointed by the President of the <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:country-region><st1:place>United States</st1:place></st1:country-region> and confirmed by the Senate. The Federal Reserve Act mandated that the President shall have due regard to a fair representation of the financial, agricultural, industrial and commercial interests and geographical divisions of the country. This mandate is now almost completely ignored, and the governors come primarily from the fields of banking and finance.
The present board members are: Alan Greenspan, Chairman, a member of the Council On Foreign Relations and former J.P. Morgan & Co., Inc.; Morgan Guaranty Trust Company of <st1:State><st1:place>New York</st1:place></st1:State> employee; Roger W. Ferguson, Jr., Vice Chairman, a member of the Council on Foreign Relations and Chairman of the Committee on the Global Financial System (CGFS), a central bank panel that monitors and examines broad issues related to financial markets and systems. He also became the Chairman of the Financial Stability Forum (FSF), which promotes international financial stability through information exchange and international cooperation in financial supervision and surveillance; Edward M. Gramlich, Susan Schmidt Bies, Mark W. Olson, and Donald L. Kohn, all members having degrees in economics and various experience with finance and monetary policy. <o:p></o:p>
<o:p> </o:p>
FACT: In addition, any interest the Fed receives for loans made to the U.S. Treasury, whether nearly all rebated to the Treasury or not, is interest paid on money created by the Fed out of thin air. Therefore the money is not actually loaned but created. The portion of interest not rebated to the Treasury is used by the Fed, ‘earned’ for nothing. Section 7 of the Federal Reserve Act, passed December 23, 1913, states that much of the profit of the FED should flow into the U.S. Treasury. In 1959, new legislation allowed the FED to transfer bonds to commercial banks at no cost to the bank. Now the FED receives less interest income and less profit for the U.S. Treasury because the money is diverted to other banks through an accounting entry. Congress and the IRS do not have access to the financial records of the FED. Every year Congress introduces legislation to audit the FED, and every year it is defeated. <o:p></o:p>
<o:p> </o:p>
FACT: Foreigners do not own shares in the Federal Reserve, but they do own shares in the 12 Federal Reserve Banks which own shares of the Fed. Eustace Mullins writes: “This writer has the original organization certificates of the twelve Federal Reserve Banks, giving the ownership of shares by the national banks in each district. The Federal Reserve Bank of <st1:State><st1:place>New York</st1:place></st1:State> issued 203,053 shares, and, as filed with the Comptroller of the Currency <st1:date Year="1914" Day="19" Month="5">May 19, 1914</st1:date>, the large <st1:City><st1:place>New York City</st1:place></st1:City> banks took more than half of the outstanding shares. The Rockefeller Kuhn, Loeb-controlled National City Bank took the largest number of shares of any bank, 30,000 shares. J.P. Morgan’s First National Bank took 15,000 shares. When these two banks merged in 1955, they owned in one block almost one fourth of the shares in the Federal Reserve Bank of <st1:State><st1:place>New York</st1:place></st1:State>, which controlled the entire system, and thus they could name Paul Volcker or anyone else they chose to be Chairman of the Federal Reserve Board of Governors. Chase National Bank took 6,000 shares. The Marine Nation Bank of <st1:City><st1:place>Buffalo</st1:place></st1:City>, later known as Marine Midland, took 6,000 shares. This bank was owned by the Schoellkopf family, which controlled Niagara Power Company and other large interests. National Bank of Commerce of New York City took 21,000 shares. The shareholders of these banks which own the stock of the Federal Reserve Bank of <st1:State><st1:place>New York</st1:place></st1:State> are the people who have controlled our political and economic destinies since 1914. They are the Rothschild Bank of London; Warburg Bank of Hamburg; Rothschild Bank of Berlin; Lehman Brothers of New York; Lazard Brothers of Paris; Kuhn Loeb Bank of New York; Israel Moses Seif Banks of Italy; Goldman, Sachs of New York; Warburg Bank of Amsterdam; Chase Manhattan Bank of New York. These interests have merged and consolidated in recent years, so that the control is much more concentrated. National Bank of Commerce is now Morgan Guaranty Trust Company. Lehman Brothers has merged with Kuhn, Loeb Company, First National Bank has merged with the National City Bank, and in the other eleven Federal Reserve Districts, these same shareholders indirectly own or control shares in those banks, with the other shares owned by the leading families in those areas who own or control the principal industries in these regions. The "local" families set up regional councils, on orders from New York, of such groups as the Council on Foreign Relations, The Trilateral Commission, and other instruments of control devised by their masters. They finance and control political developments in their area, name candidates, and are seldom successfully opposed in their plans.” <o:p></o:p>
<o:p> </o:p>
FACT: Moreover, monetary policy is controlled by the Federal Advisory Council. Each of the twelve Federal Reserve Banks was to elect a member of the Federal Advisory Council, which would meet with the Federal Reserve Board of Governors four times a year in <st1:State><st1:place>Washington</st1:place></st1:State>, in order to "advise" the Board on future monetary policy. This seemed to assure absolute democracy, as each of the twelve "advisors", representing a different region of the United States, would be expected to speak up for the economic interests of his area, and each of the twelve members would have an equal vote. The theory may have been admirable in its concept, but the hard facts of economic life resulted in a quite different picture. The president of a small bank in <st1:City><st1:place>St. Louis</st1:place></st1:City> or <st1:City><st1:place>Cincinnati</st1:place></st1:City>, sitting in conference with Paul Warburg and J.P. Morgan to "advise" them on monetary policy, would be unlikely to contradict two of the most powerful international financiers in the world, as a scribbled note from either one of them would be sufficient to plunge his little bank into bankruptcy. The Morgan-Kuhn, Loeb interests boldly selected the members of the Federal Advisory Council from their correspondent banks and from banks in which they owned stock.
<o:p> </o:p>
FACT: The government can NOT constitutionally print its own money every year, nor are the Federal Reserve Notes constitutional or ‘lawful’ money. The Constitution specifies that Congress shall have the power “To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”, NOT to PRINT money. The Fed presently prints money according to politics, keeping debt interest and shareholder profits flowing, and to inflate the American economy so that the hidden tax of inflation comes from the pockets of American workers to fund wars, pay Federal Reserve System stockholder dividends, or whatever government funding is needed.
FACT: The authors of the Constitution had already experienced the horrors of economic catastrophe due to fiat currency and specified power to Congress to COIN money, not print it. The Federal Reserve System architecture was that of a CARTEL to concentrate money in the hands of a few bankers who believed in the fractional reserve system, replacing sovereign nations with a world bank, the desire to eliminate competition of free market banking, and if the system failed to put the burden of loss on the taxpayers (by the hidden taxation of inflation) instead of upon the bankers and shareholders.<o:p></o:p>
<o:p> </o:p>
FACT: It is not Congress that is responsible for the national deficit; it is USURY practiced and perpetuated by the cartel bankers who understand all too well that DEBT means profit, and so they continue to manufacture money out of thin air, which costs them nothing, they have nothing to LEND, yet they charge interest on that nothing. The “reserves” which are the supposed backing for creation of money are nothing more than government ‘promises to pay’, not silver or gold. I.O.U.’s from U.S. and foreign governments are put on the bank books as “reserves”, and American silver and gold flows to foreign nations, and your home loan is backed not by silver or gold reserves, but by inked or electronic notations of others’ debts. This is the result of the Fractional Reserve System gone wildly out of control.<o:p></o:p>
<o:p> </o:p>
FACT: Foreign investors own about 27% of the American national debt. Banks go to extremes to perpetuate loans for foreign investors, creating yet more millions/billions for foreigners so that they can continue to make their interest payments to the Federal Reserve cartel so that the stockholders continue to receive the fixed dividends of 6% (or greater). Anyone else doing this would be jailed for fraud. But not the Fed. Congress has violated the Constitution on two counts, by giving away to the Fed the exclusive power of Congress to coin money, and that money not even being coin but printed paper.<o:p></o:p>
<o:p> </o:p>
FACT: All we need to do is exchange FED money (interest attached) for real <st1:country-region><st1:place>U.S.</st1:place></st1:country-region> money (interest-free) dollar for dollar as Kennedy tried to do. We should not be required to pay interest on our own currency. According to Benjamin Franklin, this was one of the primary reasons we fought the Revolutionary War. Today we are still fighting the same family of bankers. Replacing Federal Reserve Notes (which originally were ‘exchangeable for lawful money at any time’) for United States Notes or Silver Certificates backed 100% by actual silver (and gold) and redeemable for lawful money at any time, and restoring the free coinage at the U.S. Mint, together with paying off the Fed interest debt with its own notes would restore economic equilibrium. Congress has the power to rescind the Federal Reserve Act at any time. Executive Order 11110, giving Congress the authority to issue 100% backed silver certificates has never been repealed. Any president need only utilize this congressional authority.<o:p></o:p>
<o:p></o:p>
FACT: The U.S. Government can buy back the FED at any time for $450 million (per Congressional record). The U.S. Treasury could then collect all the profit on our money instead of the 300 original shareholders of the FED. The $4 trillion of <st1:country-region><st1:place>U.S.</st1:place></st1:country-region> debt could be exchanged dollar for dollar with <st1:country-region><st1:place>U.S.</st1:place></st1:country-region> non- interest bearing currency when the debt becomes due. There would be no inflation because there would be no additional currency in circulation. Personal income tax could be cut if we bought back the FED and therefore, the economy would expand. According to the Constitution, Congress is to control the coinage of money, keeping the amount of inflation or deflation in check. If Congress isn't doing their job, they should be voted out of office. Unfortunately, voters can't vote the FED or its Chairman out of office. <o:p></o:p>
<o:p></o:p>
FACT: If the government has a deficit, we could handle it as <st1:City><st1:place>Lincoln</st1:place></st1:City> and Kennedy did. Print money and circulate it into the economy, but this time interest-free and 100% backed by silver and gold. Today the FED, through foreign banks, owns much of our debt and therefore controls us. The FED will cease to exist as taxpayers become informed and tell other taxpayers. The news media and Congress will have no choice but to meet the demands of grass roots <st1:country-region><st1:place>America</st1:place></st1:country-region>.<o:p></o:p>
<o:p> </o:p>
FACT: In July, 1968, the House Banking Subcommittee reported that Rockefeller, through Chase Manhattan Bank, controlled 5.9% of the stock in CBS. Furthermore, the bank had gained interlocking directorates with ABC. In 1974, Congress issued a report stating that the Chase Manhattan Bank's stake in CBS rose to 14.1% and NBC to 4.5% (through RCA, the parent company of NBC). The same report said that the Chase Manhattan Bank held stock in 28 broadcasting firms. After this report, the Chase Manhattan Bank obtained 6.7% of ABC, and today the percentage could be much greater. It only requires 5% ownership to significantly influence the media.<o:p></o:p>
<o:p> </o:p>
FACT: The people who enacted the FED in 1913 started the IRS, within months of the FED's inception.(Constitution Amendment XVI, 1913.) The FED buys <st1:country-region><st1:place>U.S.</st1:place></st1:country-region> debt with money they printed from nothing, then charges the <st1:country-region><st1:place>U.S.</st1:place></st1:country-region> interest. The government had to create income tax to pay the interest expense to the FED's shareholders, but the income tax was never legally passed. The FED is illegal, per Article 1, Section 8 of the United States Constitution. Also, not one state legally ratified the 16th Amendment making tax on income legal.<o:p></o:p>
<o:p> </o:p>
The first step in abolishing the Federal Reserve/Fractional Reserve System is to repeal the legal-tender laws. Only fiat money requires forced acceptance. People will naturally accept honest money. Private banks should be allowed to compete and innovate. The only regulation should be fulfillment of contract. If the green stamps company says it will give a crystal lamp for seven books of stamps, then it should be compelled to do so. Disney should be required to accept the coupon in exactly the manner printed on it. And if Bank of America tells its depositors they can have their dollars back any time they want, it should be required to keep 100% backing in its vaults at all times to do so. The concept of fractional reserves should be abolished and replaced with real dollars defined by precious-metal content. Gold can backup silver, not at a fixed-price ratio, but at the natural ratio set by a free market.<o:p></o:p>
<o:p> </o:p>
The government’s supply of gold and silver should be de-nationalized and returned to the people. The government has no use for it, except to support the money supply. At various times in <st1:country-region><st1:place>U.S.</st1:place></st1:country-region> history, it was illegal for Americans to own gold and their private holdings were confiscated. It should be returned to the people as a matter of principal, and to be used for its purpose of supporting the money supply, for which it was intended.<o:p></o:p>
<o:p> </o:p>
Retire the Federal Reserve Notes, redeeming them for dollars, based on the value of the total gold and silver supply divided by the number of Federal Reserve Notes in circulation. Each person will have the option of taking coins or Treasury Certificates which are 100% backed. These Certificates will become the new U.S. Currency. (Kennedy’s Executive Order 11110 is still in effect.)<o:p></o:p>
<o:p> </o:p>
Allow no more bailouts of banks. Dissolve the FDIC – which has no money anyway except what the Fed creates out of thin air – and turn over the insuring to real insurance companies in the private sector, introducing free market banking. Depositors should be informed by the banks of the nature of their deposits, whether they are depositing as a CD-type deposit and will have to wait a specified time before getting their money back, or as demand deposits, wherein their money is retrievable at any time. Competition will ensure that satisfactorily performing banks will prosper, and others which do not serve the customers’ needs will fall by the wayside, eliminating the legions of bank regulators.<o:p></o:p>
<o:p> </o:p>
Return the government to the Constitutional provisions wherein the government is limited to the protection of life, liberty and property – not the eternal legislation and regulation of those natural free market pursuits. The government can sell off all its socialistic programs which infest the bureaucracy and that bleed American workers of hard-earned pay. <o:p></o:p>
<o:p> </o:p>
Reverse and rescind all programs and agreements aimed at or smelling of disarmament and economic interdependence – including getting the United States out of the United Nations and the United Nations out of the United States, and dissolving the Council on Foreign Relations - to altogether avoid loss of American sovereignity and absorption into global socialism or Cecil Rhodes’ ideas for a New World Order.<o:p></o:p>
<o:p> </o:p>
Get out of debt. Invest in silver and gold. Do not keep over $100,000 in any one bank. Maintain a stash of cash. Do what is possible to be or become self-sufficient. Educate yourself in the history and present operations of financing, and spread the knowledge. Research candidates and vote for the ones that uphold the Constitution and a sovereign <st1:country-region><st1:place>America</st1:place></st1:country-region>. Run for office yourself. The power to reverse the present trend rests in the hands of only 535 people: 435 Representatives and 100 Senators. To control a majority, we only need to influence the election of 268 people among those. To even come close to awakening that many, likely a wave of political consciousness or conscience would bring about change.
<o:p>:ridinghor</o:p>
<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p> </o:p>
FACTS: The Fed is not directly privately owned. The 12 member banks of the Federal Reserve hold stock without voting weight. The 12 member banks are privately owned. No matter how large the bank or how much capital is paid in, each Federal Reserve Bank has one vote. The stock cannot be sold or traded. Stockholders are subservient to the central board. The Fed is not directly politically controlled either. The Federal Reserve System is an association of the large commercial banks which has been granted special privileges by Congress. It is, in effect, a CARTEL protected by government.
<o:p> </o:p>
FACT: The Federal Reserve Board of governors is not ‘publicly’ appointed in that the people do not choose the members. The 7 members are appointed by the President of the <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:country-region><st1:place>United States</st1:place></st1:country-region> and confirmed by the Senate. The Federal Reserve Act mandated that the President shall have due regard to a fair representation of the financial, agricultural, industrial and commercial interests and geographical divisions of the country. This mandate is now almost completely ignored, and the governors come primarily from the fields of banking and finance.
The present board members are: Alan Greenspan, Chairman, a member of the Council On Foreign Relations and former J.P. Morgan & Co., Inc.; Morgan Guaranty Trust Company of <st1:State><st1:place>New York</st1:place></st1:State> employee; Roger W. Ferguson, Jr., Vice Chairman, a member of the Council on Foreign Relations and Chairman of the Committee on the Global Financial System (CGFS), a central bank panel that monitors and examines broad issues related to financial markets and systems. He also became the Chairman of the Financial Stability Forum (FSF), which promotes international financial stability through information exchange and international cooperation in financial supervision and surveillance; Edward M. Gramlich, Susan Schmidt Bies, Mark W. Olson, and Donald L. Kohn, all members having degrees in economics and various experience with finance and monetary policy. <o:p></o:p>
<o:p> </o:p>
FACT: In addition, any interest the Fed receives for loans made to the U.S. Treasury, whether nearly all rebated to the Treasury or not, is interest paid on money created by the Fed out of thin air. Therefore the money is not actually loaned but created. The portion of interest not rebated to the Treasury is used by the Fed, ‘earned’ for nothing. Section 7 of the Federal Reserve Act, passed December 23, 1913, states that much of the profit of the FED should flow into the U.S. Treasury. In 1959, new legislation allowed the FED to transfer bonds to commercial banks at no cost to the bank. Now the FED receives less interest income and less profit for the U.S. Treasury because the money is diverted to other banks through an accounting entry. Congress and the IRS do not have access to the financial records of the FED. Every year Congress introduces legislation to audit the FED, and every year it is defeated. <o:p></o:p>
<o:p> </o:p>
FACT: Foreigners do not own shares in the Federal Reserve, but they do own shares in the 12 Federal Reserve Banks which own shares of the Fed. Eustace Mullins writes: “This writer has the original organization certificates of the twelve Federal Reserve Banks, giving the ownership of shares by the national banks in each district. The Federal Reserve Bank of <st1:State><st1:place>New York</st1:place></st1:State> issued 203,053 shares, and, as filed with the Comptroller of the Currency <st1:date Year="1914" Day="19" Month="5">May 19, 1914</st1:date>, the large <st1:City><st1:place>New York City</st1:place></st1:City> banks took more than half of the outstanding shares. The Rockefeller Kuhn, Loeb-controlled National City Bank took the largest number of shares of any bank, 30,000 shares. J.P. Morgan’s First National Bank took 15,000 shares. When these two banks merged in 1955, they owned in one block almost one fourth of the shares in the Federal Reserve Bank of <st1:State><st1:place>New York</st1:place></st1:State>, which controlled the entire system, and thus they could name Paul Volcker or anyone else they chose to be Chairman of the Federal Reserve Board of Governors. Chase National Bank took 6,000 shares. The Marine Nation Bank of <st1:City><st1:place>Buffalo</st1:place></st1:City>, later known as Marine Midland, took 6,000 shares. This bank was owned by the Schoellkopf family, which controlled Niagara Power Company and other large interests. National Bank of Commerce of New York City took 21,000 shares. The shareholders of these banks which own the stock of the Federal Reserve Bank of <st1:State><st1:place>New York</st1:place></st1:State> are the people who have controlled our political and economic destinies since 1914. They are the Rothschild Bank of London; Warburg Bank of Hamburg; Rothschild Bank of Berlin; Lehman Brothers of New York; Lazard Brothers of Paris; Kuhn Loeb Bank of New York; Israel Moses Seif Banks of Italy; Goldman, Sachs of New York; Warburg Bank of Amsterdam; Chase Manhattan Bank of New York. These interests have merged and consolidated in recent years, so that the control is much more concentrated. National Bank of Commerce is now Morgan Guaranty Trust Company. Lehman Brothers has merged with Kuhn, Loeb Company, First National Bank has merged with the National City Bank, and in the other eleven Federal Reserve Districts, these same shareholders indirectly own or control shares in those banks, with the other shares owned by the leading families in those areas who own or control the principal industries in these regions. The "local" families set up regional councils, on orders from New York, of such groups as the Council on Foreign Relations, The Trilateral Commission, and other instruments of control devised by their masters. They finance and control political developments in their area, name candidates, and are seldom successfully opposed in their plans.” <o:p></o:p>
<o:p> </o:p>
FACT: Moreover, monetary policy is controlled by the Federal Advisory Council. Each of the twelve Federal Reserve Banks was to elect a member of the Federal Advisory Council, which would meet with the Federal Reserve Board of Governors four times a year in <st1:State><st1:place>Washington</st1:place></st1:State>, in order to "advise" the Board on future monetary policy. This seemed to assure absolute democracy, as each of the twelve "advisors", representing a different region of the United States, would be expected to speak up for the economic interests of his area, and each of the twelve members would have an equal vote. The theory may have been admirable in its concept, but the hard facts of economic life resulted in a quite different picture. The president of a small bank in <st1:City><st1:place>St. Louis</st1:place></st1:City> or <st1:City><st1:place>Cincinnati</st1:place></st1:City>, sitting in conference with Paul Warburg and J.P. Morgan to "advise" them on monetary policy, would be unlikely to contradict two of the most powerful international financiers in the world, as a scribbled note from either one of them would be sufficient to plunge his little bank into bankruptcy. The Morgan-Kuhn, Loeb interests boldly selected the members of the Federal Advisory Council from their correspondent banks and from banks in which they owned stock.
<o:p> </o:p>
FACT: The government can NOT constitutionally print its own money every year, nor are the Federal Reserve Notes constitutional or ‘lawful’ money. The Constitution specifies that Congress shall have the power “To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”, NOT to PRINT money. The Fed presently prints money according to politics, keeping debt interest and shareholder profits flowing, and to inflate the American economy so that the hidden tax of inflation comes from the pockets of American workers to fund wars, pay Federal Reserve System stockholder dividends, or whatever government funding is needed.
FACT: The authors of the Constitution had already experienced the horrors of economic catastrophe due to fiat currency and specified power to Congress to COIN money, not print it. The Federal Reserve System architecture was that of a CARTEL to concentrate money in the hands of a few bankers who believed in the fractional reserve system, replacing sovereign nations with a world bank, the desire to eliminate competition of free market banking, and if the system failed to put the burden of loss on the taxpayers (by the hidden taxation of inflation) instead of upon the bankers and shareholders.<o:p></o:p>
<o:p> </o:p>
FACT: It is not Congress that is responsible for the national deficit; it is USURY practiced and perpetuated by the cartel bankers who understand all too well that DEBT means profit, and so they continue to manufacture money out of thin air, which costs them nothing, they have nothing to LEND, yet they charge interest on that nothing. The “reserves” which are the supposed backing for creation of money are nothing more than government ‘promises to pay’, not silver or gold. I.O.U.’s from U.S. and foreign governments are put on the bank books as “reserves”, and American silver and gold flows to foreign nations, and your home loan is backed not by silver or gold reserves, but by inked or electronic notations of others’ debts. This is the result of the Fractional Reserve System gone wildly out of control.<o:p></o:p>
<o:p> </o:p>
FACT: Foreign investors own about 27% of the American national debt. Banks go to extremes to perpetuate loans for foreign investors, creating yet more millions/billions for foreigners so that they can continue to make their interest payments to the Federal Reserve cartel so that the stockholders continue to receive the fixed dividends of 6% (or greater). Anyone else doing this would be jailed for fraud. But not the Fed. Congress has violated the Constitution on two counts, by giving away to the Fed the exclusive power of Congress to coin money, and that money not even being coin but printed paper.<o:p></o:p>
<o:p> </o:p>
FACT: All we need to do is exchange FED money (interest attached) for real <st1:country-region><st1:place>U.S.</st1:place></st1:country-region> money (interest-free) dollar for dollar as Kennedy tried to do. We should not be required to pay interest on our own currency. According to Benjamin Franklin, this was one of the primary reasons we fought the Revolutionary War. Today we are still fighting the same family of bankers. Replacing Federal Reserve Notes (which originally were ‘exchangeable for lawful money at any time’) for United States Notes or Silver Certificates backed 100% by actual silver (and gold) and redeemable for lawful money at any time, and restoring the free coinage at the U.S. Mint, together with paying off the Fed interest debt with its own notes would restore economic equilibrium. Congress has the power to rescind the Federal Reserve Act at any time. Executive Order 11110, giving Congress the authority to issue 100% backed silver certificates has never been repealed. Any president need only utilize this congressional authority.<o:p></o:p>
<o:p></o:p>
FACT: The U.S. Government can buy back the FED at any time for $450 million (per Congressional record). The U.S. Treasury could then collect all the profit on our money instead of the 300 original shareholders of the FED. The $4 trillion of <st1:country-region><st1:place>U.S.</st1:place></st1:country-region> debt could be exchanged dollar for dollar with <st1:country-region><st1:place>U.S.</st1:place></st1:country-region> non- interest bearing currency when the debt becomes due. There would be no inflation because there would be no additional currency in circulation. Personal income tax could be cut if we bought back the FED and therefore, the economy would expand. According to the Constitution, Congress is to control the coinage of money, keeping the amount of inflation or deflation in check. If Congress isn't doing their job, they should be voted out of office. Unfortunately, voters can't vote the FED or its Chairman out of office. <o:p></o:p>
<o:p></o:p>
FACT: If the government has a deficit, we could handle it as <st1:City><st1:place>Lincoln</st1:place></st1:City> and Kennedy did. Print money and circulate it into the economy, but this time interest-free and 100% backed by silver and gold. Today the FED, through foreign banks, owns much of our debt and therefore controls us. The FED will cease to exist as taxpayers become informed and tell other taxpayers. The news media and Congress will have no choice but to meet the demands of grass roots <st1:country-region><st1:place>America</st1:place></st1:country-region>.<o:p></o:p>
<o:p> </o:p>
FACT: In July, 1968, the House Banking Subcommittee reported that Rockefeller, through Chase Manhattan Bank, controlled 5.9% of the stock in CBS. Furthermore, the bank had gained interlocking directorates with ABC. In 1974, Congress issued a report stating that the Chase Manhattan Bank's stake in CBS rose to 14.1% and NBC to 4.5% (through RCA, the parent company of NBC). The same report said that the Chase Manhattan Bank held stock in 28 broadcasting firms. After this report, the Chase Manhattan Bank obtained 6.7% of ABC, and today the percentage could be much greater. It only requires 5% ownership to significantly influence the media.<o:p></o:p>
<o:p> </o:p>
FACT: The people who enacted the FED in 1913 started the IRS, within months of the FED's inception.(Constitution Amendment XVI, 1913.) The FED buys <st1:country-region><st1:place>U.S.</st1:place></st1:country-region> debt with money they printed from nothing, then charges the <st1:country-region><st1:place>U.S.</st1:place></st1:country-region> interest. The government had to create income tax to pay the interest expense to the FED's shareholders, but the income tax was never legally passed. The FED is illegal, per Article 1, Section 8 of the United States Constitution. Also, not one state legally ratified the 16th Amendment making tax on income legal.<o:p></o:p>
<o:p> </o:p>
The first step in abolishing the Federal Reserve/Fractional Reserve System is to repeal the legal-tender laws. Only fiat money requires forced acceptance. People will naturally accept honest money. Private banks should be allowed to compete and innovate. The only regulation should be fulfillment of contract. If the green stamps company says it will give a crystal lamp for seven books of stamps, then it should be compelled to do so. Disney should be required to accept the coupon in exactly the manner printed on it. And if Bank of America tells its depositors they can have their dollars back any time they want, it should be required to keep 100% backing in its vaults at all times to do so. The concept of fractional reserves should be abolished and replaced with real dollars defined by precious-metal content. Gold can backup silver, not at a fixed-price ratio, but at the natural ratio set by a free market.<o:p></o:p>
<o:p> </o:p>
The government’s supply of gold and silver should be de-nationalized and returned to the people. The government has no use for it, except to support the money supply. At various times in <st1:country-region><st1:place>U.S.</st1:place></st1:country-region> history, it was illegal for Americans to own gold and their private holdings were confiscated. It should be returned to the people as a matter of principal, and to be used for its purpose of supporting the money supply, for which it was intended.<o:p></o:p>
<o:p> </o:p>
Retire the Federal Reserve Notes, redeeming them for dollars, based on the value of the total gold and silver supply divided by the number of Federal Reserve Notes in circulation. Each person will have the option of taking coins or Treasury Certificates which are 100% backed. These Certificates will become the new U.S. Currency. (Kennedy’s Executive Order 11110 is still in effect.)<o:p></o:p>
<o:p> </o:p>
Allow no more bailouts of banks. Dissolve the FDIC – which has no money anyway except what the Fed creates out of thin air – and turn over the insuring to real insurance companies in the private sector, introducing free market banking. Depositors should be informed by the banks of the nature of their deposits, whether they are depositing as a CD-type deposit and will have to wait a specified time before getting their money back, or as demand deposits, wherein their money is retrievable at any time. Competition will ensure that satisfactorily performing banks will prosper, and others which do not serve the customers’ needs will fall by the wayside, eliminating the legions of bank regulators.<o:p></o:p>
<o:p> </o:p>
Return the government to the Constitutional provisions wherein the government is limited to the protection of life, liberty and property – not the eternal legislation and regulation of those natural free market pursuits. The government can sell off all its socialistic programs which infest the bureaucracy and that bleed American workers of hard-earned pay. <o:p></o:p>
<o:p> </o:p>
Reverse and rescind all programs and agreements aimed at or smelling of disarmament and economic interdependence – including getting the United States out of the United Nations and the United Nations out of the United States, and dissolving the Council on Foreign Relations - to altogether avoid loss of American sovereignity and absorption into global socialism or Cecil Rhodes’ ideas for a New World Order.<o:p></o:p>
<o:p> </o:p>
Get out of debt. Invest in silver and gold. Do not keep over $100,000 in any one bank. Maintain a stash of cash. Do what is possible to be or become self-sufficient. Educate yourself in the history and present operations of financing, and spread the knowledge. Research candidates and vote for the ones that uphold the Constitution and a sovereign <st1:country-region><st1:place>America</st1:place></st1:country-region>. Run for office yourself. The power to reverse the present trend rests in the hands of only 535 people: 435 Representatives and 100 Senators. To control a majority, we only need to influence the election of 268 people among those. To even come close to awakening that many, likely a wave of political consciousness or conscience would bring about change.
<o:p>:ridinghor</o:p>