With tax time upon us, I couldn't but help to think of The Federal Reserve Board.
You know, where all the collected income tax money from all U.S. taxpayers goes (wondering?) DIRECTLY to, the Federal Reserve Board (check the back of ANY check sent to the IRS...it is true).
I thought what a better time than now to offer a challenge to Anons, if they dare that is.
Ready for the challenge? Who or/and what is the Federal Reserve? Is F.R. a governmental office or??? Is there a CEO of F.R., if so who is it?
See it's a simple challenge and googling is encouraged. You can choose one or all three questions put before you, your choice. Although, personally I like google, any and all forms of search engine(s) is allowed. Even a trip to your local library might prove to be the ticket. Please cite sources you used to come to your conclusions.
Now will the Anons try their hand(s) at some logical reasoning or offer their witless insults and ignorant tantrums to this thread? Who knows, the Anons might hit this challenge out of the ballpark, only time will tell.
~~~~~~~~Smile, It confuses people~~~~~~~~
Posts
61 comments:
While it is a shame that more people dont understand the federal reserve system, your assumption that conservatives dont and liberals do.. is just plain stupid.
So, for all those lazy individuals.. this is, really, the only site you should need.
http://www.federalreserve.gov/pubs/frseries/frseri.htm
It seems even you have some doubt about who knows about the Federal Reserve. I also couldn't help but noticed you didn't answer any of the questions, I would suggest you look deeper. Can you answer this anonymousposter, is Federal Reserve a governmental office?
Also, in case you haven't noticed, not all anons are conservatives . I know you have a hard time noticing when it isn't one of your kind :o)
Again I ask you (if you know the answer) Is Federal Reserve a governmental office, it is a simple yes or no question. (I about bet you don't know the answer)
~~~~~Forever A Facetious Pain~~~~~~
p.s. It seems like quite a few anons aren't that knowledgable(?)
The Federal Reserve is and is not a governmental office. It is overseen by Congress, but its decisions are not approved or ratified the President or anyone within the government. It serves as the "central bank" of the United States but it does not receive funding approved by congress. It is an independent entity within the govt. Is that enough for you Muse, or shall I go on?
You wont stump this observer. I have been very involved with the Federal Reserve in past years. I bet you cant even tell me which Federal Reserve Branch your bank processes through.
Well, it seems you got some of it right, but not all of it.
Again I ask you is Federal Reserve a governmental office, it can't be both yes and no. Although I see your answer (slightly veiled) how about you just let everyone else know, is Federal Reserve governmental office, yes or no? Oh hell with it, let me explain.
The Federal Reserve is controlled by private banking interest and by Presidential appointment - but it is still a private organization and not a government entity. In 1913, President Wilson's creation of the Federal Reserve System established a three-tier monetary system in the United States - the holders of money (public, government, business and institutions; the commercial banks that borrow from the public and issue loans; and the central bank or Federal Reserve that has a monopoly on the issuing of money. The Federal Reserve is technically owned by the commercial banks. Therefore Federal reserve is NOT a governmental office, never has been.
Also FEDERAL RESERVE CONTROLS THE MONEY, NOT THE GOVERNMENT (wondering how you are going to convince others Federal Reserve is and is not a governmental office?)
Now I will give credit where credit is due, evem though you tried to spin your answer a bit. Now since you gave two answers in your reply I got to ask which one is your answer?
Is it option A: "The Federal Reserve is and is not a governmental office."
Or option B: "It is an independent entity within the govt."
Please let me know, also I wonder do you know if this process is in direct contradiction of the U.S. Constitution that reposes the responsibility of the monetary system with the Congress of the United States?
And to answer your question, of course I do, do you?
p.s. Seems like most anons can't answer any of these questions. I wonder why?
ROFLMAO
Gee let me think why I couldn't answer any of those questions ....
Oh yeah ... Perhaps it's because you JUST posted it at 10:30 last night.
Ya know some of us have jobs so we don't get online late or jump on first thing in the morning. I just got home and it's after 6 pm here now. What a dumbass you are for posting something, then jumping out of your skin over and over because it wasn't answered. It's only been 18 hours.
Moron ... a complete moron
Yet, you still haven't answered the question lol
Yes, some of us do have a job, too bad you don't have one or know that not everyone is on the same time zone huh?
~~~~~Forever A Facetious Pain~~~~~
Sounds like muse stumbled upon a factoid and it's killing her to let it out and try to gain some intellectual ground with it. I can tell by the way it was posted that it wasn't something she came up with on her own. (no shocker there)
But even though I know absolutely nothing about the Fed, I'll give it a try without Googling. First of all there's no "CEO" as you talk about in your post. I know there's a board of governors led by a "Chairman" which is a Presidential appointee. I think the most recent is Ben S. Bernanke who replaced Alan Greenspan. I'm not sure what dictates the length of an appointment. It's probably retirement, because Greenspan's been there for almost 20 years? If I remember correctly, Dr. Bernanke was Chairman of the President's Council of Economic Advisers, which probably put him in the fabled cat bird's seat. But he was a member of the Board of Governors of the Federal Reserve System before that.
Site my sources??? Did you not read my comment? I said "I know nothing about the Fed, but I'll give it a try without Googling". How can I site my sources when there's none to site? Everything I typed is common knowledge, or at least I assumed it was. I also have no clue why you bring up the Fed every year around tax time. That's something only YOU could answer because it's something YOU bring up every year.
Hmmm, I think you might want to look a little deeper. Also FYI I bring up Federal Reserve every year around tax time, can you guess why?
I'm still waiting and please could you, as requested, cite your sources.
And again I challenge you to tell me where I copied and paste this, since you seem to think you know me so well, please find it. LOL
~~~~Forever A Facetious Pain~~~~~~
anonymous said...I also have no clue why you bring up the Fed every year around tax time.
I said in the posting and I quote "where all the collected income tax money from all U.S. taxpayers goes (wondering?) DIRECTLY to, the Federal Reserve Board (check the back of ANY check sent to the IRS...it is true)."
So I take it that you still have no clue why I asked? Also I wonder if you know what all of that money that is sent to Federal Reserve Board goes towards? I mean it is our money the tax payers, I would hope that you know where those income taxes are going, do you?
I will wait for your answer. lol
muse the back of every check you send to your nephew for a birthday gift has the Federal Reserve board of governors printed on it. What's your point?
Oh let me guess ... The IRS is tied in with the Fed in a massive conspiracy to get your nephew's birthday cash.
Someone call Alex Jones fast!!!!
AnonyMouse are you always so witty? Why is it you still haven't answered either question? Tell me if you can that is, where does all the money collected from income taxes goes towards? Does it go towards social programs, military spending, or ???
Come on now, show that you really can think, even if you don't know about the CEO (or should I say CEOs) of F.R.
And I really should look into this Alex Jones, you seem to have such hh regards for this person
ROFLMAO
Give it up muse... do you ask because you dont know the answer? You think you answered it already. Anyone can google it... it takes someone with real knowledge to post without doing research. (Which by the way you did)
Why so anal? LOL
Some things are so important to little people arent they?
.. err that wasnt clear... you googled to get your information.. i told you without "looking it up" lol
anonymousposter, did you forget how to sign in to blogger? I only ask because you are repling to a comment I replied back to an AnonyMouse. so are you claiming you were also that Mouse?
As far as my knowledge of Federal reserve, it goes beyond google and the such. Now why is you nor any others can answer this one question, Where does all the money collected from income taxes goes towards? Does it go towards social programs, military spending, or ???
are you willing to give an answer...hmmmm?
~~~~~Forever A Facetious Pain~~~~~
Muse, what a dumbass you are. I was responding to your reply to my earlier post and whatever stupid remarks you try to make here. Does it matter? I know the voices in your head confuse you, but please, try to keep up.
The Internal Revenue Service, a govt agency, collects taxes from the people for the govt to use as it sees fit as set forth in the budgetapproved by congress. Perhaps if you dont understand this you should tell us what it is you dont understand, in a clear and concise manner and perhaps we can help you.
Take a look at this too
... Now why is you nor any others can answer this one question, Where does all the money collected from income taxes goes towards?..... you should stop smoking weed. Its screwing with your brain.
So I take it you haveno clue where income taxes collected go? I'm disappointed, I was sure that you would know the answer since you claim to know so much and without the use of any research.
Maybe you don't know as much as you think? Maybe a wee bit of research wouldn't hurt you?
It amazes me that anyone wants to down another for education and the desire to continue learning.
Now when you play nice, I will let you know where every single cent of collected income taxes go, and btw
"The Internal Revenue Service, a govt agency, collects taxes from the people for the govt to use as it sees fit as set forth in the budgetapproved by congress"
That isn't what happens to collected income taxes. All collected income taxes goes to the same place, each and every year. Collected income taxes monies are not 'reviewed' every year. There truly is one hmmm program (lack of better word) that ALL collected income taxes goes towards, it never changes.
So with all of your self proclaim knowledge, it seems that even you need to learn how to research.
I would think by now, ya'll would know if I write something like this I have a point to make and yest each and everytime ya'll walk right into without even attempting to arm yourselves with the smallest amount of knowledge or the ability to educate yourselves futher.
Now it seems that AnonyMouses (you included) can't debate without insulting names. ~SMH~ Yet, I'm still not willing to give up on ya'll, I still have faith that eveb AnonyMouses have the ability to grow.
~~~~~~Forever A Facetious Pain~~~~~~
~~~~~~Smile, it confuses people~~~~
p.s. I see any new challenges to AnonyMouses will have to easier, perhaps a contest how nasty ya'll can be? ROFLMAO
P.S. I left ya'll several typos, enjoy!!!
I'm glad to see muse is the replacement for zombie
Anonymous said...
Uh oh, uh oh, uh oh! THIS is too funny! Another one has seen the light. (or could it be that zombiemaster is REALLY Attila the Hen too?) Dying to see how isa wiggles out of this one. Another expose'? Will JC ride to her rescue? Where are all these friends, isa? Oh, look! There goes one now - running away from you as fast as he can!
bwwwwwwwwwwwwwahahahahahahahahahahahahhahahhaahhaahahahhahahahahaha PMSL @ isabella!!!!!!!!!!!!
isabellasays said…
"...i surround myself with brilliant, smart, intelligent, compassionate, and successful people."
zombiemaster said…
"Attlia,
Isa is starting to get me worried because of what she has been doing latly. I cant speak for her but I am trying to do the best I can for myself."
Thanks for your kind words at well
ZM
zombiemaster said…
"As of right now, I declare that ISA and I are on two differant paths in life and on the net. I only pray that SIP and his clan are not hurt."
February 06, 2007 5:58 PM
zombiemaster said...
"Attila layth the smackdown on someone's candy ass! I think I'll show a bit more respect to her in the future."
February 06, 2007 9:01 PM
February 06, 2007 9:24 PM
No one has downed another for the desire to learn except YOU, Muse.
You claim to have a point here, but really the only point you have is to "down another" for whatever it is you have researched and think no one else knows. You FOUND this knowledge on some site you saw and now you want to prove to one and all how wonderfully educated you are. One piece of knowledge and youre an expert. Muse, while your attempt may be meager at best, your delivery is so confused it just dances around and no one can really tell what it is you want to know.
ASK a question and we will see if we can help you figure it out.
Hmmm, you can't see the questions listed? As far as me downing someone for learning and that I am the only one, let me direct your attention to:
Anonymous said...
Sounds like muse stumbled upon a factoid and it's killing her to let it out and try to gain some intellectual ground with it.
and
AnonymousPoster said...
Anyone can google it... it takes someone with real knowledge to post without doing research. (Which by the way you did)
I challenge you to find where I put anyone down in this thread for educating themselves.
And yet I still wait for the answer to this question
Where does all the money collected from income taxes goes towards? Does it go towards social programs, military spending, or ???
Carry on
muse you moron it goes towards paying off the national debt. When we need more, we borrow it. Common knowledge. What's you fucking point?
"World War I and the 1920's
The entry of the United States into World War I greatly increased the need for revenue and Congress responded by passing the 1916 Revenue Act. The 1916 Act raised the lowest tax rate from 1 percent to 2 percent and raised the top rate to 15 percent on taxpayers with incomes in excess of $1.5 million. The 1916 Act also imposed taxes on estates and excess business profits.
Driven by the war and largely funded by the new income tax, by 1917 the Federal budget was almost equal to the total budget for all the years between 1791 and 1916. Needing still more tax revenue, the War Revenue Act of 1917 lowered exemptions and greatly increased tax rates. In 1916, a taxpayer needed $1.5 million in taxable income to face a 15 percent rate. By 1917 a taxpayer with only $40,000 faced a 16 percent rate and the individual with $1.5 million faced a tax rate of 67 percent.
Another revenue act was passed in 1918, which hiked tax rates once again, this time raising the bottom rate to 6 percent and the top rate to 77 percent. These changes increased revenue from $761 million in 1916 to $3.6 billion in 1918, which represented about 25 percent of Gross Domestic Product (GDP). Even in 1918, however, only 5 percent of the population paid income taxes and yet the income tax funded one-third of the cost of the war.
The economy boomed during the 1920s and increasing revenues from the income tax followed. This allowed Congress to cut taxes five times, ultimately returning the bottom tax rate to 1 percent and the top rate down to 25 percent and reducing the Federal tax burden as a share of GDP to 13 percent. As tax rates and tax collections declined, the economy was strengthened further.
In October of 1929 the stock market crash marked the beginning of the Great Depression. As the economy shrank, government receipts also fell. In 1932, the Federal government collected only $1.9 billion, compared to $6.6 billion in 1920. In the face of rising budget deficits which reached $2.7 billion in 1931, Congress followed the prevailing economic wisdom at the time and passed the Tax Act of 1932 which dramatically increased tax rates once again. This was followed by another tax increase in 1936 that further improved the government's finances while further weakening the economy. By 1936 the lowest tax rate had reached 4 percent and the top rate was up to 79 percent. In 1939, Congress systematically codified the tax laws so that all subsequent tax legislation until 1954 amended this basic code. The combination of a shrunken economy and the repeated tax increases raised the Federal government's tax burden to 6.8 percent of GDP by 1940."
http://www.ustreas.gov/education/fact-sheets/taxes/ustax.shtml
Is your point that it is used to help fund wars, Muse?
Everybody knows what the piechart looks like. We've all seen that the majority of spending goes to the military. What's your point muse?
Anonymouses seem to know how to comment fast when they want to insult. Why shouldn't Muse be surprised by the lace of quick responses? Come on, quit whining and contribute, something, anything to society accept your perversions.
I don't think the creation of the Federal Reserve in 1913 is the beginning of three-tier monetary system, it was simply a continuation of the American Revolution.
"The Founding Fathers did lead the war for independence from Britain. But they did not do it for the equal right of all to life, liberty, and equality. Their intention was to set up a new government that would protect the property of slave owners, land speculators, merchants, and bondholders. Independence from England had already been secured in parts of the country by grassroots rebellion a year before the battles at Lexington and Concord that initiated hostilities with Britain. . . . It is one of the phenomena of modern times that revolutions are not favored unless they are led by people who are not revolutionaries at heart.
"I would rather recognize the greatness of all those who fought to make sure that the Founding Fathers would not betray the principles of the Declaration of Independence, to make sure that the dead and maimed of the Revolutionary War did not make their sacrifices in vain. And so I would honor the soldiers of the Pennsylvania and New Jersey lines, who mutinied against George Washington and Mad Anthony Wayne. They were rebelling against the luxurious treatment of their gentry officers, and their own mistreatment: 500 lashes for misconduct, Washington decreed, and executed a few mutinous leaders to set an example.
"Add to the honors list in that great generation the farmers of western Massachusetts who resisted the taking of their homes and land for nonpayment of exorbitant taxes. This was the Shays Rebellion, which put a fright into the Founding Fathers, especially as it led to uprisings in Maryland, South Carolina, New Jersey, and Pennsylvania. That rebellion persuaded the Founding Fathers that a strong central government was needed to maintain law and order against unruly dissidents, slave rebels, and Indians. These were the true revolutionaries of the Revolutionary generation."
Howard Zinn. "The Greatest Generation,"
The Progressive, October 2001"
Completing The American Revolution
For those that cannot read very well, or should I say (coff) comprehend very well, here is a link with an explanation of the Federal Reserve in video and text. The information can be downloaded and I recommend that people do so. I think this is an excellent source of knowledge for those that are not so completely brainwashed to learn the truth about the USA and the role banking plays in the USA.
Secrets of the Federal Reserve
Lastly, this site offers a great quote by Thomas Jefferson about banking in the USA. People should think about this quote and wonder who is control of our country.
JEFFERSON’S OPINION ON THE
CONSTITUTIONALITY OF THE BANK
February 15, 1791
(The Writings of Thomas Jefferson, ed. by H. E. Bergh, Vol. III, p. 145 ff.)
The bill for establishing a national bank, in 1791, undertakes, among other things,--
1. To form the subscribers into a corporation.
2. To enable them, in their corporate capacities, to receive grants of lands; and, so far, is against the laws of mortmain.
3. To make alien subscribers capable of holding lands; and so far is against the laws of alienage.
4. To transmit these lands, on the death of a proprietor, to a certain line of successors; and so far, changes the course of descents.
5. To put the lands out of the reach of forfeiture, or escheat; and so far, is against the laws of forfeiture and escheat.
6. To transmit personal chattels to successors, in a certain line; and so far, is against the laws of distribution.
7. To give them the sole and exclusive right of banking, under the national authority; and, so far, is against the laws of monopoly.
8. To communicate to them a power to make laws, paramount to the laws of the states; for so they must be construed, to protect the institution from the control of the state legislatures; and so probably they will be construed.
I consider the foundation of the Constitution as laid on this ground--that all powers not delegated to the United States, by the Constitution, nor prohibited by it to the states, are reserved to the states, or to the people (12th amend.). To take a single step beyond the boundaries thus specially drawn around the powers of Congress, is to take possession of a boundless field of power, no longer susceptible of any definition.
The incorporation of a bank, and the powers assumed by this bill, have not, in my opinion, been delegated to the United States by the Constitution.
Oh that's right ... this is another "experiment" by muse ... BWAAAAAAHAHAHAHAHAHAHAHA
Come on, quit whining and contribute, something, anything to society accept your perversions.
It is EXCEPT, dumbass.
I see the federal reserve as a whorehouse with many whores, but they only allow out a certain percentage of whores at any time.
That means a certain amount of Americans are getting fucked really well, and another part of Americans are wishing they could get what the other fuckers are getting.
Notice that muse has strangly disapeared? Where's isa?
Oh that's right ... isa can't talk about anything that requires real thought.
Anonymous said...
Come on, quit whining and contribute, something, anything to society accept your perversions.
It is EXCEPT, dumbass.
12:00 AM
I see your anal probe made you cranky today. Attack a typo and not debate or contribute? Tsk tsk lil monkey.
>ARE WE REQUIRED TO PAY INCOME TAXES
Anonymous said... Attack a typo and not debate or contribute?
When one puts himself up on a pedestal to insult another, he must first be able to accept his own inadequacies.
It wasnt a typo. It was your own ignorance. Nice try, though.
Anonymous said...
Gee let me think why I couldn't answer any of those questions ....
Oh yeah ... Perhaps it's because you JUST posted it at 10:30 last night.
Anonymous said...
Notice that muse has strangly disapeared?
Can you anonyMouses make up your collective mind(s)?
ROFLMAO
~~~~~Forever A Facetious Pain~~~~~
~~~~~Smile, it confuses people~~~~~
p.s. Yes, I'm will be repling to some other comments soon ;O)
Anonymous said...
Notice that muse has strangly disapeared? Where's isa?
Oh that's right ... isa can't talk about anything that requires real thought.
1:54 PM
Not only that, isa is way too busy getting her ass kicked from one blog to another. It's like watching a game of kick the can, except instead of a can, they're using a total idiot. I think there are 2 things up with isa:
1. she likes getting her ass kicked
2. she's in love with atilla the hen
Anonymous said...
Anonymous said... Attack a typo and not debate or contribute?
When one puts himself up on a pedestal to insult another, he must first be able to accept his own inadequacies.
It wasnt a typo. It was your own ignorance. Nice try, though.
11:14 PM
I might have made a mistake in spelling, but you are still a wee monkey and unable to contribute anything of substance.
Btw, you forgot your apostrophes. Aren't they an important part of a sentence structure? Quit being so anal.
You didnt make a mistake in spelling. The two words are totally different. You did not use the word properly.
Accept and Except. Do you not know the difference?
Most people ACCEPT constructive criticism, EXCEPT for those who are defensive about their inadequacies.
sub·stance
–noun 1. that of which a thing consists; physical matter or material: form and substance.
2. a species of matter of definite chemical composition: a chalky substance.
3. controlled substance.
4. the subject matter of thought, discourse, study, etc.
5. the actual matter of a thing, as opposed to the appearance or shadow; reality.
6. substantial or solid character or quality: claims lacking in substance.
7. consistency; body: soup without much substance.
8. the meaning or gist, as of speech or writing.
9. something that has separate or independent existence.
10. Philosophy. a. something that exists by itself and in which accidents or attributes inhere; that which receives modifications and is not itself a mode; something that is causally active; something that is more than an event.
b. the essential part of a thing; essence.
c. a thing considered as a continuing whole.
11. possessions, means, or wealth: to squander one's substance.
12. Linguistics. the articulatory or acoustic reality or the perceptual manifestation of a word or other construction (distinguished from form).
13. a standard of weights for paper.
—Idiom14. in substance, a. concerning the essentials; substantially.
b. actually; really: That is in substance how it appeared to me.
conducive
adjective
tending to bring about; being partly responsible for; "working conditions are not conducive to productivity"; "the seaport was a contributing factor in the growth of the city"; "a contributory factor"
anal
adjective
1. of or related to the anus; "anal thermometer"
2. a stage in psychosexual development when the child's interest is concentrated on the anal region; fixation at this stage is said to result in orderliness, meanness, stubbornness, compulsiveness, etc. [ant: oral]
Narcissistic
has a grandiose sense of self-importance (e.g., exaggerates achievements and talents, expects to be recognized as superior without commensurate achievements)
is preoccupied with fantasies of unlimited success, power, brilliance, beauty, or ideal love
believes that he or she is "special" and unique and can only be understood by, or should associate with, other special or high-status people (or institutions)
requires excessive admiration
has a sense of entitlement, i.e., unreasonable expectations of especially favorable treatment or automatic compliance with his or her expectations
is interpersonally exploitative, i.e., takes advantage of others to achieve his or her own ends
lacks empathy: is unwilling to recognize or identify with the feelings and needs of others
is often envious of others or believes that others are envious of him or her
shows arrogant, haughty behaviors or attitudes
for·give·ness
–noun 1. act of forgiving; state of being forgiven.
2. disposition or willingness to forgive.
Oh! Forgive me for I have committed a crime by typing the wrong spelling of a word. Please, I beckon you to forgive this lowly person. If it were not for your kind generosity, I would not be able to function daily. I pledge to you my undying gratitude for eternity. Now....fuck off, oh kind and gracious one!
P.S. Also, please contribute to the original post, thank you.
So, you used about 18 inches of blog space to not "contribute to the original post". hahaha.
WHO is anal?
hahahahahahahahahahahahahahah
Are you sure, because I measured 17 1/2 inches of space? I will check it again and get back to you, lmao. This is classic.
jay156 said...
"you can't answer my question" let me just say I'm not here to answer your question.
Why should I or anyone else expect anything more from you jay? We have all figured out that you are NOT able to debate, the intellegence needed for debates, is something you lack greatly in. But keep trying, you might get it right one day, keep aiming for the stars jay.
~~~~~Forever A Facetious Pain~~~~
Eff, I too thought that income taxes started as a way to fund WWI and that is was on a volunteer base and not to be perm. Who knows perhaps that the idea at first.
Eff, ty
Anonymous said...
muse you moron it goes towards paying off the national debt. When we need more, we borrow it. Common knowledge. What's you fucking point?
Partially right, but not comepletely. Yet, y ou are on the right track. I do want to ask you, how do we get loans from F.R.? I mean what do you use to show we have the ability to pay back those loans, do you know?
Anonymous said...
Everybody knows what the piechart looks like. We've all seen that the majority of spending goes to the military. What's your point muse?
Although it is true US spends a great portion of money on Defense, collected income taxes do NOT go towards anoy military spending at all. Good try though, I'm impressed
~~~~~Forever A factious Pain~~~~~
Howard Zinn. "The Greatest Generation,"
The Progressive, October 2001"
Completing The American Revolution
Anonymous, thank you for adding to the discussion. Also this is info I kind of knew about but not really due to not knowing where to find this type of info. I will be looking into this tyvm.
Satarel, I couldn't agree more
How the Federal Reserve banks work (using a 10% reserve
requirement).
1. F.R. "creates" $1,000,000 worth of "debt certificates" with no assets behind the creation, just the "OK" of Congress, and distributes it to banks.
2. The bank "Holds" the 10% reserve as operating capital ($100,000) and loans the rest out at 10% interest.
3. The bank pockets $90,000 in interest, and accepts the $900,000 back as a deposit.
4. The bank retains 10% of the $900,000 deposit as a reserve, and loans out the $810,000 at 10% interest.
5. The process is repeated over and over, with "hard" assets pledged as collateral for these "loans". Thus, it starts with "no money" and ends up with houses, cars, land, silver, gold...real assets...and all it took was some ink, some paper, and the cooperation of Congress.
The BIRTH of money #1...Congress authorizes the F.R. to purchase U.
S. Notes from the U.S. Bureau of Engraving for 2.5 cents per bill (no
difference between $1 and $1000 bills). The F.R. then issues an equal amount of "debt certificate" Federal Reserve Notes which they use to purchase U.S. Treasury Bonds. Taxpayers are, supposedly, obligated to pay off these bonds at FULL FACE VALUE, plus the debt of the original currency purchased at 2.5 cents per bill!
All credit is hypothecated upon the faith and worthiness of the "United States". Congress authorizes various
corporations to extend the credit of the United States (as a privilege, not a right) to finance mortgages and other types of credit. You and I could not set up shop to extend credit to others, except we be licensed and approved by the government. Thus, it is not the mortgage company, with whom you sign
a contract, who extends you credit...they are only an "agent"... it is the United States who is the party with standing, and the only entity which can sue or foreclose for breech of the contract. (BET YOU DIDN'T KNOW THAT!) Then there is the credit contract itself...a fraud perpetrated upon the buyer every time. It is another means of "creation" of money. There is no "money" exchanged in the mortgage transaction. It is a book entry made by the "agent" which "monetizes" the value of the real thing, the property involved. No contract is valid except both parties bring something of value, called "consideration", to seal the contract. You are bringing the property, and the promise of future payments...they bring nothing but the ability to create credit...a congressional "okie-dokie"...to the contract. Thus the government fraudulently claims superior ownership rights to the property
involved, and the ability to charge the "tenant" rent (called property
taxes, bet U thought U owned that property, right?) for the privilege of using paper credit.
The taxes paid by Americans never provide ANY services to our country...all collected income tax money goes DIRECTLY to the F.R. Board.
All U. S currency is "Federal Reserve Notes" of debt, owed to the
Federal Reserve, and is borrowed into existence. How can you pay the debt when you have to "borrow" the currency to pay the debt, FROM THE GUYS YOU ALREADY OWE? It is like paying off your VISA card using THE SAME VISA CARD...the interest just keeps growing, and no principal is ever paid! Thus, the national debt can never be repaid. It is not meant to be repaid.
More that half the shareholdings in the Federal Reserve Bank are controlled by large New York City banks, including National City Bank, National Bank of Commerce, First National Bank, Chase National Bank, and Marine National Bank. When Rockefeller's National City Bank merged with J.P. Morgan's First National Bank in 1955, the Rockefeller group owned 22 percent of the shares of the Federal Reserve Bank of New York, which in turn holds the majority of shares in the Federal Reserve System - 53 percent. But who really owns what? Here arc the top controllers of the Federal Reserve Bank
1. Rothchild banks of London and Berlin.
2. Lazard Brothers Banks of Paris.
3. Israel Moses Seif Banks of Italy.
4. Warburg Bank of Hamburg and Amsterdam.
5. Lehman Brothers Bank of New York.
6. Kuhn, Loeb bank of New York.
7. Chase Manhattan Bank of New York, which controls all of the other 11 Federal Rwerve Banks.
8. Goldman, Sachs Bank of New York.
This ownership combination has been challenged by the Federal Reserve Bank, but a study of Standards and Poors will verify the ownerships. This means that the controlling interest of our national monetary system is foreign. In 1797, John Adams wrote to Thomas Jefferson, "All the perplexities, confusion and distress in America arise, not from defects of the Constitution or Confederation; not from any want of honor or virtue, as much as downright ignorance of the nature of coin, credit and circulation." In simple terms, the United States Government borrows money from the Federal Reserve Bank with interest. Here is how it works: The Government wants $1 billion. The Federal Reserve prints $1 billion - based upon no hard asset - and lends it to the Government at a high interest rate. The bank did not have the original money, it created it and made a bookkeeping entry - like you writing yourself a check without funds and cashing it. The Federal Reserve controls the flow of money, making it tight and creating unemployment or printing more than actually exists and creates inflation. It is, in wessence, a paper corporation, which controls the entire economic well-being of the nation.
Yet there is a catch - one that President Kennedy recognized before he was slain - the original deal in 1913 creating the Federal Reserve Bank had a simple backout clause. The investors loaned the United States Government $1 billion. And the backout clause allows the United States to buy out the system for that $1 billion. If the Federal Reserve Bank were demolished and the Congress of the United States took control of the currency, as required in the Constitution, the National Debt would virtually end overnight, and the need for more taxes and even the income tax, itself.
Thomas Jefferson was concise in his early warning to the American nation, "If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."
"Beware the leader who bangs the drums of war in order to whip the citizenry into a patriotic fervor, for patriotism is indeed a double-edged sword. It both emboldens the blood, just it narrows the mind. And when the drums of war have reached a fever pitch and the blood boils with hate and the mind has closed, the leader will have no need in seizing the rights of the citizenry. Rather, the citizenry, infused with fear and blinded by
partiotism, will offer up all of their rights unto the leader and gladly so. How do I know? For this is what I have done. And I am Caesar."--Julius Caesar.
BTW, in case some anonyMouses haven't figured it out yet. ALL COLLECTED INCOME TAXES GO TO PAY THE INTEREST OWED TO THE FEDERAL RESERVE
Not one cent of collected income taxes go to any social programs or the military. It doesn't even go to pay on the principal of the loans made to the US from the F.R.
F.R. is NOT a governmental office, never was, not in any shape or form (sorry anonymousposter.
There are many theories out about the F.R. and income taxes, I'm not stating my views of this matter, only sharing info, what you do with it is your choice.
Ok AnonyMouses, what more insult do you feel the need to throw? Get it out of your system, then perhaps we all can go on to debating issues that affect us all. DO I expect anonyMouses to join in with anything other than insults? No I don't, but we can always hope.
~~~~~Forever A Facetious Pain~~~~~
p.s.To everyone that contributed to this thread, thank you (yes even you anonymousposter). To the rest, well what can one expect from anal retentive personalities?
Carry on
muse just wanted to prove she knows how to google.
Very good muse.... we SEE what nice things you can do. Good job.
Ok. everyone back to their regularly scheduled activities, muse is moving on to finger paint.
BTW, I guess most AnonyMouses lack the bility to debate, but we must not give up :o)
~~~~~Forever A Facetious Pain~~~~~~
~~~~~smile, it confuses people~~~~
muse,
daring anyone to challenge information that you googled isnt debate.
Again, AnonyMouse, you assume. *SMH*
Is it so hard for you to accept that out in the big world, perhaps we all could learn from each other?
No, that isn't something you desire, what ever would you do with all of your pent up anger then?
I'm happy to know that as you try to insult me, you are giving another poor soul a break.
~~~~~Forever A Facetious Pain~~~~~
p.s. Debate is discussing the pros and cons of an issue. Therefore any facts, ideals, suggestions, etc... can be debated
Will some people never learn? *SMH*
ROFLMAO
Ahh if you only wanted debate muse. If only, but that was not your intention. Nor is it your attention to enlighten. Please, you're embarrassing yourself.
You're daddy must be a glassmaker because we can see right through you.
For balance. I don't claim to understand this stuff, nor that the source of these challenges to Facetious Muse's post on the Federal Reserve is highly credible. I am attempting only to provide an alternative perspective, not necessarily my own.
http://www.publiceye.org/conspire/flaherty/flaherty1.html
If you change the number in the url, 1-9, you should get a new page related to supposed myths about the Federal Reserve. I've not found an index of them yet.
I can't see the link in full. Just incase:
http://www.publiceye.org/conspire/flaherty/flaherty1.html
Damn it!
Ok. Remove the space from the item in quotes and that should give the address.
"http://www.publiceye.org/conspire/
flaherty/flaherty1.html"
Thats whats wrong with you idiots. You are always trying to make soemthing out of nothing. Go directly to the Federal Reserve site and find out how it works and what goes on from the source itself. For those of you too ignornat or lazy to find it......
http://federalreserve.gov/general.htm
All of you don the dunce cap and sit in the corner!
Guess I typed too fast this time...
should be... something and ignorant.
US 'could be going bankrupt'
By Edmund Conway, Economics Editor
(Filed: 14/07/2006)
link to www.telegraph.co.uk
The United States is heading for bankruptcy, according to an extraordinary paper published by one of the key members of the country's central bank.
A ballooning budget deficit and a pensions and welfare timebomb could send the economic superpower into insolvency, according to research by Professor Laurence Kotlikoff for the Federal Reserve Bank of St Louis, a leading constituent of the US Federal Reserve.
Prof Kotlikoff said that, by some measures, the US is already bankrupt. "To paraphrase the Oxford English Dictionary, is the United States at the end of its resources, exhausted, stripped bare, destitute, bereft, wanting in property, or wrecked in consequence of failure to pay its creditors," he asked.
According to his central analysis, "the US government is, indeed, bankrupt, insofar as it will be unable to pay its creditors, who, in this context, are current and future generations to whom it has explicitly or implicitly promised future net payments of various kinds''.
The budget deficit in the US is not massive. The Bush administration this week cut its forecasts for the fiscal shortfall this year by almost a third, saying it will come in at 2.3pc of gross domestic product. This is smaller than most European countries - including the UK - which have deficits north of 3pc of GDP.
Prof Kotlikoff, who teaches at Boston University, says: "The proper way to consider a country's solvency is to examine the lifetime fiscal burdens facing current and future generations. If these burdens exceed the resources of those generations, get close to doing so, or simply get so high as to preclude their full collection, the country's policy will be unsustainable and can constitute or lead to national bankruptcy.
"Does the United States fit this bill? No one knows for sure, but there are strong reasons to believe the United States may be going broke."
Experts have calculated that the country's long-term "fiscal gap" between all future government spending and all future receipts will widen immensely as the Baby Boomer generation retires, and as the amount the state will have to spend on healthcare and pensions soars. The total fiscal gap could be an almost incomprehensible $65.9 trillion, according to a study by Professors Gokhale and Smetters.
The figure is massive because President George W Bush has made major tax cuts in recent years, and because the bill for Medicare, which provides health insurance for the elderly, and Medicaid, which does likewise for the poor, will increase greatly due to demographics.
Prof Kotlikoff said: "This figure is more than five times US GDP and almost twice the size of national wealth. One way to wrap one's head around $65.9trillion is to ask what fiscal adjustments are needed to eliminate this red hole. The answers are terrifying. One solution is an immediate and permanent doubling of personal and corporate income taxes. Another is an immediate and permanent two-thirds cut in Social Security and Medicare benefits. A third alternative, were it feasible, would be to immediately and permanently cut all federal discretionary spending by 143pc."
The scenario has serious implications for the dollar. If investors lose confidence in the US's future, and suspect the country may at some point allow inflation to erode away its debts, they may reduce their holdings of US Treasury bonds.
Prof Kotlikoff said: "The United States has experienced high rates of inflation in the past and appears to be running the same type of fiscal policies that engendered hyperinflations in 20 countries over the past century."
Paul Ashworth, of Capital Economics, was more sanguine about the coming retirement of the Baby Boomer generation. "For a start, the expected deterioration in the Federal budget owes more to rising per capita spending on health care than to changing demographics," he said.
"This can be contained if the political will is there. Similarly, the expected increase in social security spending can be controlled by reducing the growth rate of benefits. Expecting a fix now is probably asking too much of short-sighted politicians who have no incentives to do so. But a fix, or at least a succession of patches, will come when the problem becomes more pressing."
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