It is Tuesday already. Yesterday was a bust for blogging, so I find myself trying this in the dark of early morning. We have a house keeper come every two weeks, and I have to find a place to light while she is here. Little Ava was feeling poorly and needed extra Pappy time, and I had to go to the gym to make up for missing on my gout days. By the time I got back and read e-mails and comments I had lost my creative edge. This morning at 3:30 A.M., my body woke me up to remind me I wasn't a teen anymore and should probably take shoulder pulls out of my routine. After sitting on the couch with an ice bag on my neck, I decided to give this a try. I am trying hard to stay away from overtly political posts to give my friends who are Democrats time to heal. I have a good friend who does a lot of research on his on and sends me his work. This post should be classified as neutral politically. This is something I didn't know, and it is something we all should know regardless of political affiliation. I'm sure he won't mind me sharing. I think it is very timely in light of our current economic woes.
Well, there is always something to learn, at least for me. I have just been doing a little research on the the Federal Reserve. Briefly: It was put in place by Woodrow Wilson, arguably our first liberal president.
It gives the national power to print,control, and produce money to the banks rather than the federal government.
It is allegedly unconstitutional as the Constitution specifically states that only Congress shall have the power to produce coinage. Section 8 of the Constitution states 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"...
In 1936 the Congress brought a bill to "restore" the power given to the Federal Reserve to Congress. The bill failed.
In 1963, John Kennedy abolished the Federal Reserve. He was killed three weeks later and LBJ rescinded Kennedy's decree. Now that could be a bit of fodder for conspiracy theorists which I don't think has been considered.
For those of you who may not know, this is the short version of how it works. It is made up of private banks and is not part of the federal government. In simple terms, the United States Government borrows money from the Federal Reserve Bank with interest. For example, 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 creating inflation. It is, in essence, a paper corporation, which controls the entire economic well-being of the nation. And remember, according to the Constitution, only the Congress is supposed to possess these powers. So who are these banks which have so much power over both us and our government? For starters, Standard and Poor reports that 47% of them are foreign owned. Here is a list of the main movers and shakers in the Federal Reserve:
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 Reserve Banks.
8. Goldman, Sachs Bank of New York.
Lehman Brothers, now where have I heard about them recently?
I will close with a quote from Thomas Jefferson:"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."