Saturday, Oct 20, 2007
Why the Fed is corrupt
Safe Haven: America's Forgotten War Against the Central Banks
A note issued by a central bank, such as the Federal Reserve Note, is bank currency. These notes are given to the government in exchange for an interest-bearing government bond. The primary means to pay for the interest on these bonds is to borrow more bank notes, thus beginning a vicious cycle that ultimately ends with the complete destruction of the currency and bankruptcy of the nation. History is replete with such occurrences.
Posted by sold 2 rent 1 @ 04:31 PM (357 views) Add Comment
2 Comments
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1. japanese uncle said...
We must remember what befell those Presidents who tried to deprive Fed (or its predecessor) of the power of issuing money, Lincoln, McKinley and JFK. Bearing in mind that this unprecedented economic bubble in the UK started to boost right after GB delegated power to decide IR to the MPC in 1997, central banks may well be called causes of evil.
2. stillthinking said...
We have a choice. If you don't want to participate in Sterling, the private game of the banks, which is a unit of exchange only, then you are free to exchange your sterling for something else (stocks,gold,silver,champagne(going up I hear),rare breeds of dogs,vintage watches, etc....) each and every time you get paid.
If you go to a Casino you are immediately issued with plastic chips in exchange for government mandated currency. They know you aren't walking out with what you came in with, so why not give you a big handful of extra large plastic chips because you are so special.
On another note, I am under the impression that the Fed, unlike the BoE, is privately owned from a family dynasty. If the Americans can't remember the key cause of dumping our delightful administration ( i.e. the US big heads couldn't participate in the free cash for all of the UK banking system) then so what, I can't remember what I had for lunch yesterday, its the same thing.