The 1913 Federal Reserve Act is in Direct Contradiction to the U.S. Constitution Yet Has the Full Support of Our Puppet President and Congress.
The 1913 Federal Reserve Act allows the Federal Reserve Banks to follow rules set forth in the act, but those rules have always been met with controversy.
For example, the United States government does not control the Federal Reserve, contrary to popular belief.
Since inception it has operated with no governmental assistance and little oversight.
President Wilson presented the act in a time of great financial instability.
Wilson felt at this time there was a need for the establishment of the act to ensure a firm and secure banking system in the U.S. and to hopefully stabilize the economy.
Wilson also wanted to keep the act a secret from the American public in case of widespread panic because he assumed the public wouldn’t understand the specifics of it.
Businessmen, banks and some government officials were looking at England for a banking solution as the British system was more stable at the time.
During this time, Congress was less than happy with the act.
The American currency at the time was mixing with foreign currency which was destabilizing.
Businesspeople, banks, the government, and the American people knew something had to change.
Finally, after almost a year of deliberating Wilson was able to get the 1913 Federal Reserve Act to pass but not without opposition.
Wilson and other politicians cleared the way and had the bill signed and ready to go.
The 1913 Federal Reserve Act stated that the Federal Reserve would remain independent from the U.S. government, but would have to follow regulations from the U.S. government.
The President appoints seven people for the governing board of the Federal Reserve, who serve for 14 years and every two years one of the members changes.
These appointees are confirmed by a congressional committee.
The board watches over the Federal Reserve to assure smooth transactions within the bank, but the Federal Reserve has never had a congressional audit.
Thanks to the 1913 Federal Reserve Act, the Federal Reserve is essentially the private bank of the federal government.
The United States government has a checking account with the Federal Reserve that allows taxes to be paid in and the government to withdraw funds.
The problem recently is that the government has overdrawn it’s checking account, hence the national debt.
The Federal Reserve is Pulling all the Strings
U.S currency is handled though the Federal Reserve who controls the flow of money into the market.
When they choose to, they can flood the market with currency and then take it all away.
Many theorize that the current financial crisis the country is in occurred in just this way.
Banks that are part of the Federal Reserve System are required to have a percentage of assets from the bank deposited in the Federal Reserve Bank in their region, which gives the Federal Reserve System even greater power over our money.
More Money is Not the Answer
With the economy today and the most recent trillion dollar stimulus package, it begs the question “Where did all the money go?”
One thing is clear:a throwing more money into the hole won’t fix it.
If this is the result of the work of the Federal Reserve, should the Federal Reserve still exist?
Now our country has a tax cheat controlling the treasury. Combine this with the lack of control over the Federal Reserve and we have a huge problem.
Our country is really in trouble if the people handling the money don’t know how to handle the money.