How the Federal Government Will Bankrupt America
The United States of America is the richest nation in the world due to two factors-available resources and an infrastructure that can develop those resources, yet each year our legislators and lawmakers on Capitol Hill continue to vote this country further and further into a deep and threatening deficit! The deepening debt threatens to dilute the buying power of the US dollar to the point of unsustainability. Just as in a post war Germany where a barrel of Deutsche Marks couldn’t buy a loaf of bread, the Federal Reserve Note is not actually anything more than an instrument of US debt used for transactions as it has no worth. The US dollar is not backed by gold, oil, silver, or any other form of tangible assets.
The Federal Reserve tasked with handling the US banking system operates on a completely fallacious principle known as fractional banking. In this flawed form of lending, transacting, and saving people’s money, banks adhere to a fraudulent monetary policy. Lending deposits of other people’s money to other customers and charging them interest while maintaining the lowest possible amount of liquidity (cash on hand) at 10% allows banks to utilize the money of their depositors to make more money as a type of collateral without the consent of the bank customer. The flawed practice also includes the way a bank’s actual net worth is established through using the loans made as a new asset rather than a potential liability.
So, for instance when a bank makes a loan this is considered to be an asset creating more worth in the asset column of a financial statement instead of a liability since the bank makes interest on someone else’s money, not theirs, and then deceptively claims this as creating more net worth. Couple this with that fact that the Federal Reserve, a separate entity, from the US Government can create money out of thin air by simply using their computers to fabricate more credit that it loans to the US government that it will charge them interest on. The US debt is continually financed by the Federal Reserve and by selling US debt in the form of Treasury Notes in order to cover the shortfall of money taken in from tax revenue, commercial, income, utility, telecommunications, tariffs, interstate transportation, oil, gas, etc. With Americans and our business taxed more than any other society on earth our government consistently overspends for political purposes!
Outside of our borders
In a typical year the US government goes to foreign governments to buy 535 billion dollars in resources, goods, agricultural products, petroleum products and more that all can be manufactured here in America! This costs American jobs and all the supporting industry that producing these goods and resources domestically would require. It is estimated that America with enough clean burning natural gas could provide its own energy for 100 years. A recent petroleum exploration study found huge gas and oil reserves in the Rocky Mountains as well as the Gulf of Mexico. New geological surveys have found that gas, oil, and coal reserves exist under each state in the union in huge quantities! The question becomes, “Why are we still purchasing crude oil from the Saudis who even fund terrorism in the world?
A matter of untapped potential
An estimated 128 trillion in currently retrievable resources exist on or under American soil! Yet, with starving people in America we are still buying foreign goods and resources. That is not the worst of it. In 2017 the US federal government has given 50 billion in known foreign aid. This definition of “Foreign Aid” is very vague. Some claim it to be medicine for the sick, AIDS research, or food for those starving where there is wide spread famine. Yet, when uncovered we have found that there are not only questionable amounts of money going for ridiculous causes, but this monetary aid even goes to nations who are supporters of terrorism and are adversarial to US policy as well as being threats to National Security! Let us take, for instance, 150 billion dollars given to Iran that had been sanctioned for their violations in human rights and the support of terrorist organizations! Not only that, but we even paid them interest on that amount in 2016 under President Obama’s destructive foreign policy.
Domestically the Democrats regularly fund such useless causes as money to failing leftist magazines, programs, and shows due to the fact they cannot support themselves through the lack of interest from an American public that has no interest in Communism, Statism, Collectivism, and socialism though it is continually shoved down our throats by a leftist US media in its unholy alliance with those elements in the federal government! Why would our government be financially supporting such anti-American causes with the taxpayer’s money? Much of this goes unreported to American citizens.
Foe not friend
If one takes a look at what the private cartel we know as the Federal Reserve has done to the actual buying power of the US dollar we would be shocked. In 1913 a change in the US banking system occurred when the Federal Reserve Act handing control of the US banking system to a private cabal of families who established their vast wealth in Europe. 75 years earlier President Andrew Jackson had fought against a European Central Bank doing the same thing at that time. He destroyed them and made sure there was legislation that secured his wishes so that the financial control of our nation would never be in the hands of foreign entities who did not have the best interests of America in mind. Jackson survived several assassination attempts by the European Bankers.
Revenue Act 1913
Under the questionable circumstances of 1913 during a Christmas break when Congress was out of session, former attorney for a number of wealthy families and current Secretary of State Philander Knox took a controversial and little known vote among the states that would legalize the Federal Reserve Act and its terrorist arm, the Internal Revenue Service. Witnesses and records indicate Knox took a vote at an intentionally inopportune time counting states that voted “Pass” as meaning not voting at this time to being for this toxic legislation. President Woodrow Wilson would later lament that he had allowed control of the nation’s banking to be passed into the hands of a few.
The legacy of the Federal Reserve’s stewardship of US Currency in contradiction to the promises of US currency stability was the Stock Market Crash of 1929, the Great Depression in months after that, and the confiscation of gold by the federal government making it illegal to own. According to Norman Dodd, a young banking executive just out of college during the Great Depression who was commissioned by his Morgan Bank Managers to investigate the causes of the massive US economic failure, when he returned after a year’s research and gave his presentation his superiors were strangely disinterested. He was offered a cream puff desk job where he was promised that he would live a good life on a great salary and he could play tennis or golf anytime he wanted. Norman couldn’t be bought off so easily. When he asked his bank manager about it the Morgan Bank executive merely replied that the US banking system would never operate on sound banking principals again!
In Part II we will explore much more disturbing facts that will expose just how US monetary policy is exploited by powers most are unaware of.