Letters to the Editor • Federal Reserve
PRIVATE FEDERAL RESERVE AND GOVERNMENT: FASCISM DEFINED By Grant Hall http://www.privacycrisis.
Irresponsible Monetary
Policy
Monetary policy will create a
stable currency or cause money to lose value. Without sound, responsible money
supply controls in place, an oversupply of dollars issued in paper or digital
entries causes the same result—currency devaluation.
Elected representatives have
the responsibility of making certain that dollar values remain constant,
through oversight and monitoring of Federal Reserve monetary policy.
Dollars printed or issued only
when there is “value” behind the currency assures dollar price stability,
as measured against competitive foreign currencies and the costs of goods and
services.
Responsible borrowing occurs only
when a debt repayment plan has been structured and available cash flow is
available to service the loan. A plan to liquidate assets to pay debt can serve
as a back-up plan if cash flow (recession or depression for government;
earnings reduction by businesses) decreases.
These fiscal and solvency rules
are the same when applied to private entities or sovereign nations.
Why do government officials not insist on sound fiscal policies and make certain your currency is strong rather than creating money from debt? Why do government officials follow a perpetual tax-and-spend scheme designed to
destroy
wealth over time? Do they benefit from your loss of purchasing power by gaining
wealth from newly created dollars without assets backing this money?
Huge Tax Increases and
the Great “Inflation” Lie
People want their dollars’
value preserved, and a “hard currency” will prevent savings from eroding when
retirement funds must provide the means for living expenses.
The same value, supply, demand,
and stability rules apply to any means of exchange, whether that “currency” is
buckskins, gold and silver coins, wheat, beans, ivory, or U.S. dollars. Flood
the marketplace with an over-abundance of any commodity, and the increased
supply and lack of scarcity drives down the value.
The devaluation of the dollar
becomes the most expensive “tax” of all taxes. Reduced purchasing power of
dollars earned and saved produces hidden consumption taxes on all dollars
spent, thereby reducing wealth and middle class living standards.
Inflation is a falsehood—a lie
created by those who want the public to believe the loss of their dollars’
value over time is a normal market phenomenon. Indeed, the public has been
deceived into believing the great inflation lie—arguably the greatest lie ever
told—and created by the privately owned Federal Reserve System.
While the current money system
is less than a hundred years old, few people understand how money is created.
Today, paper dollars are issued not as receipts for assets on a one-to-one
ratio—as was the original method of early “bankers” known as goldsmiths who
stored gold for customers—but through the whims and desires of relatives and
agents of controlling families who own the central bank of the United States of
America—a private corporation known as the Federal Reserve System.
Private Federal Reserve Controls Money
The Federal Reserve is a
privately owned banking cartel (Griffin, 2002) and is no more a federal
government entity than is Federal Express.
Purposely called the “Federal
Reserve System” rather than a bank-related name, (Mullins, 1983) the Fed is a
mysterious private corporation whose true controllers remain a secret.
Bankers and Business
People Do Not Understand the Federal Reserve System
Most bankers cannot define the
Federal Reserve (Hall, 2006) and do not understand the source of their money
credits. (Grant Hall is the author of Privacy Crisis: Identity Theft Prevention
Plan and Guide to Anonymous Living, and articles on business and
privacy matters.)
Many business executives
seemingly do not understand that monetary policy is dictated by a private
banking group rather than the Federal Government.
Chairman and founder of Investor’s
Business Daily, William J. O’Neil, wrote the following concerning “the
Fed”:
“The bear market and the costly
protracted recession that began in 1981, for example, were created solely
because the Fed increased the discount rate in rapid succession on September
26, November 17, and December 5, 1980. Its fourth increase, on May 8, 1981,
thrust the discount rate to an all-time high of 14%. That finished off the U.S.
economy, our basic industries, and the stock market.”
“Such actions and their result
starkly demonstrate how much our federal government, not Wall Street or
business, may at times influence our economic future.”(O’Neil, p.72)
Does
Mr. O’Neil—whose firm, William O’Neil + Company, owns New York Stock Exchange
seats and advises institutional money managers—not know the Federal Reserve is
a private corporation?
Public Ignorance of
Federal Reserve
If many business leaders and
bankers do not understand the Federal Reserve System, it goes without saying
that most of the public remains ignorant about the true source of money. This
deception is by design from the originators of the Fed, as it was a secret
created to empower a few to gain control of the money (Mullins, 1983).
The Federal Reserve System was
created secretly on Jekyll Island, Georgia, in 1910 by agents of international
bankers (Mullins, 1983, publisher’s note 1.)
The Federal Reserve functions
as the central bank of the United States of America and is under contract with
the United States Treasury to set monetary policy as per the Federal Reserve
Act of 1913 (Mullins, 1983, p. 29).
Elected Officials and the
Fed
Why do elected officials bow
and cow to the Fed? Is it not their job as your servants to provide oversight
and assure your currency remains a stable store of value?
By certain polls, Congress
recently had a low double digit approval rating of about 14 percent, and
virtually no one—not even one in ten citizens—wanted the recent “bailout” to
occur. But the now-departed Secretary of the Treasury, Henry Paulson, and the
Federal Reserve have begun the biggest heist in the history of the world by
literally printing money out of thin air, issued by the Federal Reserve.
Taxpayers will be raped for generations to come. The bailout scheme was purposely created without oversight or possibility of prosecution, in the event
powers
were abused by the Secretary of the Treasury, Henry Paulson, and his crew. And
elected officials went along with it. They carried out this robbery of your
future purchasing power against your will.
Fascism is the partnership of
government and private corporations to create a ruler over the mass population
known as a dictatorship. Is the current “partnership” between the Federal
Reserve System and the U.S. Government a dictatorship in the purest form?
References
Griffin, G. Edward, The
Creature From Jekyll Island, American Media, Fourth Edition, 2002.
Hall, Grant, Federal Reserve
Bank Kills U.S. Dollar, James Clark King, LLC, March 27, 2008, http://www.privacycrisis.com/.
Hall, Grant, Identity Theft
Prevention Plan and Guide to Anonymous Living, James Clark King, LLC, 2006 http://www.privacycrisis.com/.
Mullins, Eustace,The Secrets
of the Federal Reserve, Bankers Research Institute, First Edition, 1983.
O’Neil, William, J., How to
Make Money in Stocks: A Winning System in Good Times or Bad, McGraw-Hill,
2002.
Copyright © James Clark King, LLC, April 19, 2009
2 Comments in Response to PRIVATE FEDERAL RESERVE AND GOVERNMENT: FASCISM DEFINED By Grant Hall http://www.privacycrisis.
Why does the government have different "rules" than everyone else has to play with. Why do we as a people allow this to occur? I want to have my own military to force others to use the money I print out of thin air!
Examples of neutral authorities are the high courts of the land. They are neither friend nor foe of the Federal Reserve of the
United States. These authorities cannot lie when they declared that the Fed is a PUBLIC institution, except for purposes of the Federal Tort Claim Act to determine the merit of a tort case a Fed employee filed in court.
But the Fed is always, and has always been, a public entity. The high courts said so, in the many landmark cases I presented. It is not I who declared that the Fed is a public entity. However, if you think you are wiser than the Justices of the high courts, then it is your own laurel, and you can bash yourself with self-praise in that imagined glory.
We hear a lot of these bucket-kicking demonstrations on scripted videos produced by haters of banks and bankers. What you quoted in an attempt to hoodwink the readers are just a few of those extracts from You-Tube campaigns launched against the Fed. There are several of these videos running in the Internet, and you notice that the attack languages used are similar because these are no doubt scripted from a clandestine source that wears a mask [see those masks in the published editorials Fed I & Fed II].
Fiscal and monetary policies are not what you think they are. It is a complete technical science in the economic discipline, which when argued by the likes of you and Dr. Ron Paul, are groping in the dark. This responsibility is lodged in the Fed when created by Congress as a government authority with the required technical expertise hardly understood by the layman.
You must understand that bankers profit from money. Money is a commodity. Banks make a business out of it. It is no different from a vegetable vendor who makes a business out of carrots, and sells more carrots, and creates more money out of profits every time a sale is made.
Fair? In the meantime, I prescribe this pill of knowledge to cure this severe anxiety that a lot of us suffer … know the Role Of Fed In The Economy.
Laypeople are usually educated when they go to this site and know more about the Fed: Home http://www.federalreserve.gov/aboutthefed/default.htm
Cheers! And take care.