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Idaho's Weekly Journal of Local & National Commentary  Week 1514

 

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by Free Market Duck

The Real Purpose of the Federal Reserve
(Jan 18, 2007)

Washington, DC – As economist Antal Fekete stated in Dismal Monetary Science – Forbidden Research, “The global clearinghouse for the regime of irredeemable currency” (e.g., our current Federal Reserve Notes) “is a highly secretive private company called the Deposit Trust and Clearing Corporation (DTCC).  Its shares are closely held by multinational banks and financial institutions.  DTCC’s turnover in 2004 exceeded $1,000 trillion or one quadrillion dollars (sic!).  More than half of this amount was generated by trade in government securities and foreign exchange or derivatives thereof.  In comparison, the combined GNP of all nations was a paltry $40 trillion. In other words, two weeks’ turnover was all it took to clear transactions generated by the production and distribution of all the goods and services devoted to keeping the population of the world fed, clad, and sheltered for the entire year.  The rest, fifty weeks’ turnover, was just froth whipped up by speculation in churning the derivatives markets.”

   And that, mes amies, is the real reason for the existence of the private Federal Reserve Corporation, America’s central bankers:  (1) to disconnect the concepts between money and “receipts for money,” and (2) create irredeemable paper “receipts for money” out of thin air, loan the fake receipts at interest to the American public and call it a National Debt, and then collect interest as the National Debt is paid back to the bankers with American tax money, which, in essence, represents a clever method by which to redistribute the capital savings of America to the bankers.

   The bankers don’t care about receiving the principal from the National Debt repayment; it was created out of thin air anyway.  What they really want is the profit from the interest, which, by law is not audited, and thus can be expended to purchase global real estate and other real capital goods, including corporations.  This is the same scheme as counterfeiting somebody’s promissory notes or ownership papers, and redeeming them for real goods.  It’s called robbery or fraud through counterfeited contracts.

   Not one person in a million will ever understand the clever mechanism of this great monetary robbery of the American taxpayer, and even fewer will care.  In fact, you can be sure the U.S. Congress and American citizens will demand more and more intervention by the Federal Reserve, the Federal Open Market Committee (FOMC), and the phony Federal Deposit Insurance Corporation (FDIC) to “save” them from all the economic horrors that they don’t understand have been brought to them by the fiat currency manipulators of the private Federal Reserve.  And, you can be sure the private central bankers will be more than happy to oblige their naive monetary slaves by extending their National Wallpaper until it simply implodes into a huge Depression, probably war, and then another FDR-style New Deal to cycle back around again.

   The simple solution:  gold.  All the rest of current economics is simply smoke and mirrors. – FM Duck

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