"Intended Consequences" of what will happen if another trillion
dollars is borrowed. The debt ratio will increase, the exchange
value of the dollar will fall (making the George Sora's of the
world happy). Paying back debtors with cheaper currency will
result in investors (Foreign Governments using Our tax dollars)
demanding higher interest rates due to the declining dollar.
Paying higher interest rates would greatly reduce domestic
U.S. growth. Currently the interest on the national debt is
about a half a trillion dollars a year. Going further in
debt will dramatically increase the interest on the national
debt. With the dollar losing it's value and the increase
of interests rates on the national debt, eventually it will
consume every dollar the American People earn, making this
nation ripe for Globalization!
The United States of America will never see a Balanced
Budget Amendment passed for that would defeat the purposes
of the Internationalists.
Over the last 100 years we have seen our nation go from one
of self reliance to one of collective needs being provided
by the government through their "Gradual (Fundamental) Reformation"
of the system. I didn't happen by chance and it wasn't a conspiracy.
The government indicated how this change would be accomplished.
The people of this nation had and still have a terminal illness
Swampyville's Ask the Politically Correct!
Question: What was the Federal Reserve Act of 1913?
Politically Correct Resolution:
Federal Reserve Act!
The Federal Reserve Act is the Act of Congress that created
the Federal Reserve System, the central banking system of
the United States of America, and granted it the legal
authority to issue legal tender and to set interest rates on loans
to participating banks. The Act was signed into law by President
Woodrow Wilson. With the passage of the Federal Reserve Act,
a Fractional Reserve Banking system was also implemented; thus,
the creation of false assets out of thin air!
Today, with the exception of a few small countries, all nations
have a central banking system that interconnects with each
other and are members of the World Banking Group headquartered
in Washington D.C. and who have close ties to Wall Street and
International Financial Interests.
For nearly eighty years, the U.S. was without a central bank
after the charter for the Second Bank of the United States
was allowed to expire. Prior to 1863 most banks were ran by the
individual States. After various financial panics,
particularly a severe one in 1907, some Americans (Wall Street)
persuaded the people that the country needed some sort of banking and
currency reform that would, when threatened by financial panics,
provide a ready reserve of liquid assets, and furthermore
allow for currency and credit to expand and contract seasonally
within/without the U.S. economy.
Some of this was chronicled in the reports of the National
Monetary Commission (1909–1912), which was created by the
Aldrich–Vreeland Act in 1908. Included in a report of the
Commission, submitted to Congress on January 9, 1912, were
recommendations and draft legislation with 59 sections, for
proposed changes in U.S. banking and currency laws. The
proposed legislation was known as the Aldrich Plan, named
after the chairman of the Commission, Republican Senator
Nelson W. Aldrich of Rhode Island.
The Plan called for the establishment of a National Reserve
Association with 15 regional district branches and 46
geographically dispersed directors (primarily from the banking
profession). The Reserve Association would make emergency loans
to member banks, print money, and *(act as the fiscal agent for
the U.S. government). State and nationally chartered banks would
have the option of subscribing to specified stock in their local
association branch. It is generally believed that the outline
of the Plan had been formulated in a secret meeting on Jekyll
Island in November 1910, which Aldrich and other well connected
*The Federal Reserve System has never been a part of the government.
However; it receives all government taxes and charges the
people a fee for handling the tax payers money, just like
any other bank!
Since the (Aldrich Plan essentially gave full control of this
system to private bankers), there was strong opposition to it
from rural and western states because of fears that it would
become a tool of certain rich and powerful financiers in New
York City, referred to as the "Money Trust". Indeed, from
May 1912 through January 1913 the Pujo Committee, a subcommittee
of the House Committee on Banking and Currency, held investigative
hearings on the alleged Money Trust and its interlocking directorates.
In the election of 1912, the Democratic Party won control of the
White House and both chambers of Congress. The party's platform
stated strong opposition "to the so called Aldrich bill for the
establishment of a central bank." However, the platform also called
for a systematic revision of banking laws in ways (supposedly) that
would provide relief from financial panics, unemployment and business
depression, and would protect the public from the "domination by what
is known as the Money Trust." (So they led the people to believe)
That "Money Trust" still exists; however, now it's an "International
The head of the bipartisan National Monetary Commission
was financial expert and Senate Republican leader Nelson
Aldrich. Aldrich set up two commissions—one to study the
American monetary system in depth and the other, headed by
Aldrich himself, to study the (European central banking systems)
and report on them. Aldrich went to Europe opposed to centralized
banking, but after viewing Germany's monetary system he came away
believing that a centralized bank was better than the government
issued bond system that he had previously supported. In other words,
he got the law laid down to him by the European Banking Family
that loaned "Seed Payments" to American Bankers (i.e., J.P. Morgan).
Eventually, this European Banking Family owned 80% of J.P. Morgan's
In early November 1910, Aldrich met (At Jekyll Island Georgia) with
five well known members of the New York banking community to devise
a central banking bill(scam). Paul Warburg, an attendee of the meeting and
long time advocate of central banking in the U.S., later wrote
that Aldrich was "bewildered" at all that he had absorbed abroad
and he was faced with the difficult task of writing a highly
technical bill while being harassed by the daily grind of his
Senatorial duties. After ten days of deliberation, the bill,
which would later be referred to as the "Aldrich Plan",
was agreed upon. It had several key components including: a
central bank with a Washington-based headquarters and fifteen
branches located throughout the U.S. in geographically strategic
locations, and a uniform elastic currency based on gold and
commercial paper (Fiat money). Aldrich believed a central banking
system with no political involvement was best, but was convinced by
Warburg that a plan with no public control was not politically feasible.
The compromise involved representation of the public sector on the Board
of Directors. (The wanted the people to "think" that they were in charge)
Aldrich's bill was met with much opposition from politicians.
Critics were suspicious of a central bank, and charged Aldrich
of being biased due to his own wealth and close ties to wealthy bankers
such as J. P. Morgan and (John D. Rockefeller, Jr., Aldrich's son-in-law).
Most Republicans favored the Aldrich Plan, but it lacked enough
support in Congress to pass because rural and western states viewed
it as favoring the "eastern establishment". In contrast, (progressive
Democrats favored a reserve system owned and operated by the government);
they believed that public ownership of the central bank would end Wall
Street's control of the American currency supply. Conservative Democrats
fought for a privately owned, yet decentralized, reserve system, which
would still be free of Wall Street's control. (Nice thought, but it
The original Aldrich Plan/scam was dealt a fatal blow in 1912, when
Democrats won the White House and Congress. Nonetheless, President
Woodrow Wilson believed that the Aldrich plan would suffice with a
few modifications. The plan became the basis for the Federal Reserve
Act, which was proposed by Senator Robert Owen in May 1913. (The
primary difference between the two bills was the transfer of control
of the Board of Directors called the Federal Open Market Committee
in the Federal Reserve Act to the government). Even though the
government had oversight of the Federal Reserve it has never actually
persued this responsibilty, allowing laws to be changed later to benefit
the Financial interests. The bill passed Congress in late 1913.
"One must ask themself, does our debt based fiat money system dominate
indiviudual prosperity through inflation and is it used to promote world
conflict? Does this nation's economic system underwrite a framework
of central bankers donating to both sides of a conflict or revolution?
And does it destroy American Soverneignty through a system of world
military and financial control?". I say that it does!
"ALEA IACTA EST"!
(The die has been Cast)