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The U.S. Should Abolish the Federal Reserve. Our Country is on the Brink of Economic Collapse as a Direct Result of the Criminal Banking Elites at the Fed.

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Questioning whether the U.S. should abolish the Federal Reserve Banking System creates fear in most people.

This tells us just how far we have come down the road of financial tyranny that has been provoked by this system and the elite who operate it.

In case you are unaware of how iniquitous the system is, there is a simple explanation for what the Federal Reserve Bank is and how it operates.

The Fed is an independent, for profit corporation in sole charge of the creation and issuance of our currency.

It exists in terms of a law that was promulgated by the U.S. government in 1913.

No one knows exactly who owns the Fed, as the shareholders are a group of at least twelve large state central banks whose owners themselves are secretive.

What is known is that those people (large families who have been involved in banking for generations) are the wealthiest people on the planet, and the most powerful.

They have sometimes been known as the Illuminati. The government answers to the Fed and not the other way round.

Treasury representatives and government nominees all talk to the Fed and advise the Fed but the Fed does not have to listen.

The Fed prints the money and sets the interest rates. The largest debtor to the Fed is the U.S. government.

The American people are not even in the equation, except insofar as the U.S. government taxes U.S. citizens in order to pay the interest on Fed debt.

The Fed also allows and benefits from the practice of fractional reserve banking where yet more money is created out of nothing, yet another reason we should abolish the Federal Reserve.

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Control of Money Supply

How does the Fed get to print money? It gets to do it by decree, the Federal Reserve Act of 1913 made it all possible.

There is no minimum and no maximum to the amount of money that can be in circulation.

The Fed decides according to what it wants to achieve.

If it wants a boom it prints lots of money and makes it easily available to the U.S. government and other financial institutions.

If it wants a bust it stops printing money and withdraws it from circulation.

All the while the Fed shareholders, the real beneficiaries of the system, are investing in real assets, such as real estate, gold, silver, and who knows what else.

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Printed Paper

What is a dollar worth? In the final analysis, a dollar is worth nothing.

If you read what is on the dollar note, it states nowhere what it can be exchanged for.

After World War II, representatives of the world’s major powers assembled at Bretton Woods to discuss the financial future of the world.

A semi-gold standard was established. Most of the countries of the world agreed to value their currencies according to the value of the U.S. dollar, which was backed by gold at the time.

The U.S. promised to set the price of gold at $35 per ounce.

By inference, then, the currencies that were pegged to the dollar also had a fixed value in terms of gold.

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Gold Cap Removed

For the next few decades there was a gradual reduction in the United States gold reserves as a result of this partial gold standard.

By 1970 the U.S. foreign debt was twice the value of the gold in Fort Knox.

Richard Nixon handled this in 1971 by simply putting a stop to the exchange of the dollar for gold.

Today, the Fed creates money by decree, fiat money which has no backing at all, not even the value of the paper on which it is printed.

The United States should abolish the Federal Reserve before all value is sucked out of the economy. 

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