In this clip from RT’s Capital Account, federal tax practitioner, David Selig, blows the whistle on the US government’s nascent efforts to sink its talons into the gold holdings of American citizens:
In this clip from RT’s Capital Account, federal tax practitioner, David Selig, blows the whistle on the US government’s nascent efforts to sink its talons into the gold holdings of American citizens:
The Federal Reserve Bank is NOT actually a lending operation. IT IS A FIAT PRINTING PRESS. It is an illegal monopoly on the power to counterfeit fiat paper, as U.S. “dollars”. That’s right, I said COUNTERFEIT. It is an unconstitutional, and therefore illegal, monopoly on the power to counterfeit “money” into existence, in its own hands of course. A power that has of course, been unconstitutionally granted to the bank’s owners by the morons (and traitors) in Congress. The reason why this is all true is because the bank DOES NOT POSSESS THE MONEY THAT IT LENDS, BUT SIMPLY COUNTERFEITS IT OUT OF THIN AIR. Tell me, how do you lend to others, that which you do not actually possess yourself to lend? Can you lend money that you do not possess to someone who asks for a loan, or for help? HOW DOES THE FEDERAL RESERVE BANK DO IT? (By illegal monopoly?) You don’t really think they actually have ten trillion dollars to lend to the U.S. government, do you? So how is it possible? ONLY BY FRAUD AND THEFT.
Also, the Federal Reserve Bank is NOT EVEN actually part of the Federal government. It is no more Federal than Federal Express, or Federated Department Stores. It is a private corporation with a legislated monopoly on currency and credit that is allowed to BUY its paper currency for nothing more than the cost of the paper, ink, and labor, from the Bureau of Printing & Engraving (U.S. Treasury). Originally this added up to about 2.3 cents per note, or $230 of cost to buy one million dollars (10,000 100 dollar bills). Today the cost is apparently still about the same.
Because of the existence of the Federal Reserve bank and fractional reserve banking system, America is now without any permanent money supply AT ALL, and all of the paper (notes) that we now have and use as money (in place of real money) have been borrowed into existence from this monopoly. Unfortunately, the “money” to pay the interest on this borrowing has never been created within the system. So the national debts under this system are now inextinguishable.
Also, just as the income tax is the 2nd plank, the Federal Reserve bank is the Fifth plank of the Communist Manifesto.
The Federal Reserve bank has never paid a dime in income tax and has never been audited, and a percentage of this private bank is owned (or controlled) by foreigners (or their corporate shells)!!
Can you buy your money for $230 per million ?
Whatever happened to equal opportunity ? Why are only the Federal Reserve Bankers allowed to buy money? Does this monopoly make them rich?
“The Federal Reserve Banks are privately owned, locally controlled corporations”
[Lewis vs. U.S., 680 F.2d 1239, 1241](1982)
“As we have advised, the Federal Reserve is currently paying the Bureau approximately $23 for each 1,000 notes printed. This does include the cost of printing, paper, ink, labor, etc. Therefore, 10,000 notes of any denomination, including the $100 note would cost the Federal Reserve $230. In addition, the Federal Reserve must secure a pledge of collateral equal to the face value of the notes.”
– William H. Ferkler (Manager Public Affairs, Dept. of Treasury, Bureau of Engraving & Printing, Wash. D.C.
“It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
– Henry Ford, Founder of the Ford Motor Co.
“I believe that banking institutions are more dangerous to our liberties than standing armies… if the American people ever allow private banks to control the issue of currency…the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent that their fathers conquered.” – Thomas Jefferson (Ed. – Does this sound familiar ?)
Why are private unelected individuals controlling the American currency system ? Virtually running the entire country, the stock market, the banks, the lending rates, nearly everything ? Where is any of this in the Constitution?
Do you really believe they are representing We the People with their policies?
If you do, you aren’t thinking clearly!
“All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.” – John Adams
Wouldn’t you like to buy your currency for $230 per million (and have the American People guarantee its full face value, with their own assets)? Well, we won’t do that for Citizens but we do it for a select group of private and foreign bankers. And then we let them fractionalize the reserves to issue even more fiat money in the form of unbacked credit. What, you mean your government didn’t teach you about this little arrangement in their propaganda centers (public schools). Can you guess why?
Why is a private corporation cashing your income tax check instead of the Treasury? The money doesn’t even go to the Federal government? That’s right, not one penny actually goes into the Treasury! It all goes straight to the Federal Reserve bank to service the debts owed to them because of this monopoly on borrowing money into existence that they use to control the money supply. These very rich banksters are illegally and unconstitutionally attempting to usurp control and rule over America, its People and their wealth, by unlawfully controlling and manipulating our currency through their ownership of this bank, and using that power to manipulate the national policies of our government and nation !
Because of the existence of this unconstitutional bank (Federal Reserve Bank) and its fractional reserve banking system, every penny of our money supply has been borrowed into existence from this bank and its monopoly on “money” (currency and credit), which includes the sole power to issue money without backing – essentially from nothing but air.
Therefore, when the debt is repaid OUR MONEY DISAPPEARS FROM CIRCULATION, unless the bank re-lends the money BACK out into circulation. Therefore, when ALL the debts are paid off, America will have no “money” left in circulation and will be bankrupt, or will be completely beholden to the banks for more money. So it is not only impossible to pay off the debts, because while the principal is printed into existence the money necessary to pay the interest never is created, it is not desirable under the current so-called “money” system, because it will bankrupt the nation. The so-called “money” system is really nothing more than a sophisticated peonage scam that keeps We the People servicing the debts of the bankers forever in order to have “money” to “use” (rent), that they are allowed to create out of thin air as their private property to lend. What a scam. But sorry, its not available to you.
Because of this hellish system, AMERICA IS ABSOLUTELY NOW WITHOUT A PERMANENT MONEY SUPPLY (like we used to have in gold and silver coin that never disappeared from the accounting books), and the American People are forever chained and enslaved to the repayment of debts for the loans from the banks of “property” that never existed (in the bank’s name) to be borrowed in the first place! A monopoly on the power to create “money”. WOW – where is that in the Constitution. Isn’t that actually prohibited ?
WITHOUT A PERMANENT MONEY SUPPLY IN EXISTENCE, THE ENTIRE NATION IS BEHOLDEN TO THE BANKERS FOR ITS VIABILITY AND SOLVENCY. AS Thomas Jefferson said: “The issuing power must be taken from the banks and returned to the People where it rightfully belongs”
SOON, because of this so-called banking system (that is really not a banking system at all, but a sophisticated system of peonage (debt service)) ALL OF OUR NATIONAL POLICIES WILL BE DIRECTED BY THE BANKERS, NOT THE GOVERNMENT. SOME FEEL THAT THIS HAS ALREADY BEEN HAPPENING FOR A WHILE, AND THAT THE CURRENT EVENTS ON CAPITAL HILL CONFIRM DAILY THAT THIS IS NOW UNDENIABLY TRUE !
Do you know what peonage is? Do you feel like a peon?
You should, because that is the role your government has relegated you to.
The servicing of the debt.
If you are not able to understand what is written above, PLEASE READ THE INFORMATON ARTICLES BELOW UNTIL YOU GET IT !
“AS GOES THE FATE OF THE CURRENCY,
SO GOES THE FATE OF THE NATION !”
AND RIGHT NOW,
Welcome to Capital Account. The accused Federal Reserve bomb plotter’s home country wants details on his case. While this may make headlines, we ask Lew Rockwell of the Ludwig Von Mises Institute about one aspect of the Federal Reserve that has not made front page news: how the Fed, with its printing press, may be making war easier. After all, if the people of the United States were asked to write a check every year to the IRS in order to fund the exploding deficits and rising interest payments on the national debt, would they continue to support all these wars? Randolph Bourne may have famously quipped that “war is the health of the state,” but it isn’t the health of the economy, this is for certain. If the American people could identify their miserable economic plight with the actions of the federal reserve and with the hundreds of billions of dollars spent every year on war and defense, it is reasonable to expect that they would simply refuse the burden all together. We will ask Lew Rockwell, Chairman of the Ludwig Von Mises Institute what he thinks, and if he thinks that war is made easier by a pliant and compliant central bank.
And, sticking with this issue of the Federal Reserve as the great “enabler,” what about it’s role in “disabling” and dismembering America’s dwindling middle class? How responsible is the Federal Reserve and its quantitative easing, zero percent interest rate policy for the plight of America’s economy and its society? The two main contenders for the presidency, Barack Obama and Mitt Romney, speak often about the Fed. The candidates talk about supporting the middle class in terms of tax cuts, loopholes, and regulation but they don’t discuss the “money” in the middle class’s pockets. We ask Lew Rockwell, Chairman of the Ludwig von Mises Institute, about what happens to the middle class if you don’t address savings.
And it’s the 25-year anniversary of Black Monday, but it’s also the 1-year anniversary of Capital Account’s launch! Lauren and Demetri respond to your birthday wishes and more in viewer feedback. Plus one of the more memorable exchanges in Tuesday’s presidential debate was the back and forth over pension plans: Obama told Romney “I don’t look at my pension. It’s not as big as yours so it doesn’t take as long.” President Obama might want to take a look at his pension, as it turns out it holds shares of the Las Vegas Sands corporation, owned by Sheldon Adelson, a major Romney backer. The holdings in his pension also include Domino’s Pizza, Exxon Mobil, China Life Insurance, Halliburton, and Altria (Philip Morris USA). Lauren and Demetri discuss the political landmine in Obama’s pension fund in today’s “Loose Change.” They also discuss Social Impact Bonds and how SIBs have made it easier for businessmen to combine philanthropic goals with business. The SIBs are loans made by investors to pay for a social program, and they require a government to pay a return on their principal investment if the program meets its agreed-upon goals. Lauren and Demetri talk about how SIBs make the market incentive for philanthropy more efficient.
(CNSNews.com) – The debt that the U.S. government owes to foreign interests now equals approximately $47,495 for each household in the United States, according to the latest data released by the U.S. Treasury and the Census Bureau.
The portion of the U.S. government’s foreign debt now owed to interests in Mainland China is about $10,090 per household.
At the end of August, the latest period reported by the U.S. Treasury, foreign interests held a total of $5,430,000,000,000 in U.S. government debt. According to the Census Bureau’s latest estimate (which was for June 2012) there were 114,328,000 households in the United States. Therefore, the total U.S. government debt held by foreign interests was about $47,494.93 per household.
Back in January 2009, foreign interests held a total of $3,071,700,000,000 in U.S. government debt. That month, according to the Census Bureau, there were 111,079,000 households in the United States. Therefore the total U.S. government debt held by foreign interests was about $27,653.29 per household.
Since January 2009, the total U.S. government debt held by foreign interests has climbed from approximately $27,653.29 per household to approximately $47,494.93 per household—an increase of about $19,841.64 per household.
Among foreign interests, those in Mainland China hold the largest share of the U.S. government’s debt. The Mainland Chinese, according to the Treasury, owned $1,153,600,000,000 in U.S. Treasury securities as of the end of August.
Back in January 2009, interests in Mainland China held only $739.6 billion in U.S. government debt. That month, the U.S. government owed about $6,658 per American household to interests in China. As of the end of August, the U.S. government owed about $10,090 per American household to interests in China—an increase since January 2009 of about $3,432 per household.
Archived from the live Mises.tv broadcast, this lecture was presented by Robert P. Murphy at the Mises Circle in Houston on 14 January 2012.
Ron Paul ‘Constitutionally Correct’ 2012.
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Harry Reid has promised that there will not be a vote in the Senate for ‘Audit the Fed’, despite his past support for an audit in 1995. Contact Harry Reid now, and tell him to AUDIT THE FED: 202-224-3542. In addition call your senators and tell them to vote to Audit The Fed!
Exploring the illusion of choice and the true meaning of big business
This lovely illustration and web of brands that own brands was featured on reedit.com today and reveals something very interesting about our choices as a consumer or, if you will, lack of choices. It’s titled, “The Illusion of Choice”.
If you look at the brand groupings, it makes a lot of sense. Of course Nestle owns a bunch of animal feed, candy, cosmetics, and powdered food companies, they’re probably all made from the same ingredients. It’s the clothing brands that throw me. Perhaps some of the dehydrated horse meat they make the dog food with is set aside, and the best cuts are used for belts.
Regardless of how it goes down, all these brands seem to all be owned by about ten larger brands namely Kraft, Nestle, Coca-Cola, Pepsi-Co, General Mills (very fitting), Proctor & Gamble, Johnson & Johnson, Mars, and Unilever.
It’s not just our products:
If you found “brands that own brands” to be shocking, than you should also take a look this infographic on who now controls the media in this country. It seems as if their’s hundreds of media choices, but in the end it all boils down to just a handful.
In 1983, 90% of America’s media was owned and powered by over 50 companies. As of last year, the media is owned by 6 companies. Talk about the illusion of choice. GE, Time Warner, CBS, Viacom, Disney, and News Corp. are controlling everything. No wonder it’s the same thing on every channel. How can the media be impartial when all the real decisions are made by only a few people?
Perhaps that’s a narrow-minded view, but this direction we seem to be moving in doesn’t sound like it’s very good for the greater good. Maybe I’m wrong, these people who own all this stuff are probably the nicest, most caring folks out there. How else could they be so successful? I’ll leave it up to you to decide.
While doing the research for this article, it appeared the leaders of China have been listening to Ron Paul while most leaders in the U.S. continue to mock him.
Though history proves fiat currencies fail, central banks, including the Federal Reserve are bound and determined to convince the world that this time history won’t repeat itself.
So, if you were China and you owned $1.2 trillion in U.S. bills, notes, and bonds, what would you do to hedge your bets and cover your fanny? Exactly what China is doing: buying gold. In fact, they are buying so much; it appears they are preparing for a world beyond the fiat dollar. A future world in which the renminbi backed by gold could become the dominant reserve currency.
State-owned China National, CEO Sun Zhaoxue commented on the acquisition of African Barrick Gold Ltd, saying, “As gold is a currency in nature, no matter if it’s for state economic security or for the acceleration of renminbi internationalization, increasing the gold reserve should be one of the key strategies of China.” So, in spite of the fact China is the world’s largest producer of gold, it appears important enough for China to still acquire interest in mines in other countries.
And Zhaoxue sounds suspiciously like Ron Paul when he says, “Gold is currency.”
But then we hear Ben Bernanke, chairman of the Federal Reserve Bank, telling students at George Washington University how impractical a gold backed currency is, “I mean, what you have to do to have a gold standard is you have to go to South Africa or some place and dig up tons of gold and move it to New York.”
So while Bernanke is teaching students it’s too much of a problem to mine and ship gold to the U.S. to fill our void, the Chinese are buying up the mines — in Africa.
China is mining gold, buying gold, buying gold mines and encouraging its citizens to buy gold. They are even minting gold coins in various sizes to make it easier for citizens to accumulate. Maybe we need to take another look at Zhaoxue’s statement. “…for the acceleration of renminbi internationalization…” And right now the renminbi is fiat like all other currencies, right?
Reports in the past have told us it would be years before the dollars’ place, as the world reserve currency would end. At one time economists speculated if the dollar were ever replaced, it would be by the euro. Not anymore. Following the world wide financial collapse in 2008, and the stresses by such countries as Greece, the euro continues to teeter. The world watches for the impact of more Euro zone bailouts; it’s not looking good. All eyes right now are on Spain, as a not “if” but “when” bailout.
And then there is the fiscal cliff Ron Paul has warned about in the U.S. Failure by our nation’s leaders to reign in spending on domestic social issues, tighten tax loop-holes that encourage off-shore banking and investments by the rich (Hello Romney), an out of control military industrial complex pushing U.S. imperialism all over the world, and of course the Bush era tax cuts that are getting ready to expire and the now loss of the petrodollar. Add to that, the never ending Federal Reserve’s QEs. How much more can the fiat paper dollar withstand, even if stacked a billion thick?
Many people just don’t realize how aggressive the competition against the greenback has become in just the last two years by the red renminbi of China. The remnimbi is positioning itself to be viewed as a real global reserve currency alternative. China is not one to make public most of their financial plans, but let’s look at some of the stories that have made it into the mainstream media:
Russia and China in 2010 decided to do away with debt exchanges using the U.S. dollar and instead trade directly in ruble and renminbi.
In December 2011, Japan and China announced they would be promoting trades directly with each other and sidestepping the dollar. Last year’s trades were about $340 billion. At the same time China announced a direct $11 billion currency swap with Thailand.
In January 2012, Wen Jiabao, the Chinese Premier, signed a $5.5 billion currency swap with the United Arab Emirates.
Then at the end of January there is an article from Forbes answering the question “Why is China buying so much gold?” Forbes simple answer; a substitute against capital flight. What? The Chinese Premier, Wen Jiabao is the one flying all over the world setting up all these currency swaps.
In late March 2012, according to Zeebiz, “The five major emerging economies of BRICS — Brazil, Russia, India, China and South Africa — are set to inject greater economic momentum into their grouping by signing two pacts for promoting intra-BRICS trade at the fourth summit of their leaders…” And, “The pacts are expected to scale up intra-BRICS trade which has been growing at the rate of 28% over the last few years, but at $230 billion, remains much below the potential of the five economic power houses.”
In March 2012, we learned Dubai-based Emirates NBD the largest bank is selling dim sum bonds, debt securities issued in the Chinese yuan.
Again in March 2012, China and Australia sign a $30+ billion swap agreement. According to the Reserve Bank of Australia, “The main purposes of the swap agreement are to support trade and investment between Australia and China, particularly in local-currency terms, and to strengthen bilateral financial cooperation. The agreement reflects the increasing opportunities available to settle trade between the two countries in Chinese renminbi and to make RMB-denominated investments.”
In April, we learn in a report from Forbes, that China will be avoiding U.S. financial sanctions against Iran by making oil purchases not only bartering goods, but also using gold.
In late June 2012, China and Chile agreed to strengthen their ties in a strategic partnership and double their trade in three years. The leaders of the two nations, Jiabao and Pinera, also announced the completion of negotiations on investment-related supplementary deals to a bilateral free trade agreement.
Also in late June of 2012, China and Brazil agreed to a $30 billion currency swap.
Hold on a minute, what did Ron Paul say about the U.S. establishing trade around the world but keeping our noses out of other nations business? Sounds like the leader of China was listening to Ron Paul. According to Paul’s critics, what we are witnessing from Jiabao is isolationism in action. Of course, the enlightened know this isn’t so. In fact, Jiabao is a stellar example of Paul’s non-interventionist stance and is promoting trade with other countries.
Then in August 2012, Germany and China announced they are going to be doing a lot of their trade in the Euro and renminbi. The article leaves out any mention of bypassing the dollar. Maybe by now it should just be understood.
China encourages its citizens to accumulate gold. Gold coins are minted in China in varying sizes easing the way for the people to accumulate gold. China is the largest producer of gold in the world. And now as China increases trade around the world using renminbi, and it is also beginning to use gold as currency and in exchange for oil.
Ron Paul has repeatedly said the U.S. should consider gold a currency and if we are to continue printing paper dollars we need to return to a gold standard, so the dollar will have value. The Federal Reserve Bank, Obama, Romney and their supporters brush away Paul’s comments as though his warnings were gnats.
Ron Paul alerts us of a day when the dollar has no value. He warns of a day this country topples over a fiscal cliff.
On that day, don’t be surprised to look up and see the renminbi— backed by gold emerging as the world’s reserve currency.