Silk,what are YOU talking about read in to it, its all facts! google it, pick up a book its all there! where do you think the government gets the cash from to fund it? its printed the reimbursed later by us through interest charges!
Let us say that the Federal Government needs $1,000,000,000 ($1 billion) more, after it collects the taxes, to continue financing its projects. (like war) Since it does not have the money, and Congress has given away its authority to create it, the Government must go to the Federal Reserve, which is now in charge of creating the money for the country. But the Federal Reserve does not just give its money away! The Bankers are willing to deliver $1 billion in money or credit to the Federal Government only in exchange for the Government's agreement to pay it back with interest! The Congress then authorizes the Treasury Department to print $1 billion in U.S. bonds, which are then delivered to the Federal Reserve Bankers. The Federal Reserve then pays the cost of printing the $1 billion (about $1,000), and makes the exchange. The Government then used the money to pay its obligations. Now, what are the results of this transaction! The $1 billion in Government bills is paid, but the Government has now indebted the people to the Bankers for $1 billion, on which the people must pay interest! And, of course, the interest is not created! And, to top it all, on this $1 billion that the Federal Reserve received in bonds from this transaction, it is legally allowed to create another $15 billion in new credit to lend to states, municipalities, businesses, and individuals. Added to the original $1 billion, they could have $16 billion of created credit out in loans paying them interest, with their only cost being the $1,000 they spent for printing the original $1 billion lent to the Government. Is it diabolical? We should probably clarify the term create. When we use this term, we refer to the process used to bring money into existence. The Bankers create money out of nothing, simply by writing numbers in their ledger books, and then giving loans to the American people with this money, allowing them to write checks on the numbers written in their accounts, and then requiring payment with interest. Money is nothing but numbers, be it numbers in a ledger book, on checks, or on dollar bills. Using this process, most banks are legally allowed to lend out up to 50 times of what they have on deposit, creating the money out of nothing and then charging interest on it. the Federal Reserve prints the paper money we use in circulation, the Federal Reserve Notes, by having numbers printed on pieces of paper of little value, since a few cents will print a $1 bill or a $10,000 bill (at the same cost). Money is very cheap to make, and whoever has the legal right to create the money in a nation can make a tremendous profit. The United States has plunged itself terribly into debt since the Federal Reserve Act was passed. In 1910, before the passage of the Federal Reserve Act, the federal debt was only $1 billion, or $12.40 per citizen. State and local debts were practically non-existent. By 1920, after only 6 years of Federal Reserve shenanigans, the federal debt had jumped to $24 billion, or $228 per person. In 1960, the federal debt reached $284 billion, or $1,575 per citizen, and state and local debts were mushrooming. By 1981, the federal debt passed $1 trillion, and was growing exponentially, being the Banker's tripled the interest rates. State and local debts were more than the federal, and with business and personal debts, the total was over $6 trillion, 3 times the value of all land and buildings in America. In October, 2005, the federal debt reached the $8 trillion mark ($26,672 for each U.S. citizen), and it is continuing to grow wildly out of control. (For the fiscal year 2004, the interest payments on the U.S. federal debt were $321 billion.) And that's only the peak of the iceberg: the total debt (states, corporations, consumers) is over $41 trillion!
and we have to pay all that back!!
