Author: Eric WhoRU - http://groups.yahoo.com/group/whoru

Each week night at 7:30 PM, Central time, there is a conference call for those who support and promote Arron Ruso's movie, "America, From Freedom to Fascism" (702) 851-4044 access code 1626356#.

I listened in four nights last week and apart from the enthusiasm expressed among those participating there was not much meat - Where is the BEEF??

One quite often heard comment was something to the effect that, "We must get rid of the Federal Reserve!!" With absolutely no thought expressed as to what the country would use as a money system as a replacement.

I want to make it clear at the outset that I do not like the Federal Reserve, most especially I do not like the fact that the Federal Reserve is privately owned and purports to charge interest on the principal the Fed creates to monetize the future income of its customers, while at the same time the Fed provides no source from which its customers can obtain the additional Federal Reserve Notes they need to pay the interest surcharge on the Fed's issue, thus, as a privately owned entity, the Fed operates a closed end money system, which has an inherently impossible aspect, an ability to take a profit called interest, with FORECLOSURES being the Fed's only true source of "profit".

That being said - I contend that the Federal Reserve is the most important and most contributory factor in raising the standard of living of the populous of the United States. The issuance of paper money by the Federal Reserve has done more to facilitate the rise in the standard of living of the middle class than the invention of the wheel, while at the same time the private ownership thereof has enabled the Banksters to own almost everything, including the people themselves!!.

How do I reconcile these apparently contradicting postulations??

Easy, I did a personal study and evaluation of all of the adverse claims made against the Fed by its enemies and found that virtually none of the enemies of the Fed have any actual understanding as to how the Fed actually works in 2006-7-8-9 or whenever, going back at least 30 years and most probably, all the way back to 1913!!

What are the negative claims (myths) against the Fed (in no particularly significant order)??

• 1. The Fed creates money out of thin air - WRONG!!

• 2. The Fed makes an interest profit on the money it creates - WRONG!!

• 3. The paper money the Fed creates has no backing - WRONG!!

• 4. The Fed manipulates the circulating supply of money in order to intentionally cause recessions - WRONG!!

• 5. Federal Reserve Notes are evidence of debt - being nothing but worthless IOUs - WRONG!!

• 6. Debts cannot be paid with Federal Reserve Notes - only discharged - WRONG!!

• 7. The inflation inherent in the use of Federal Reserve Notes is a hidden tax - WRONG!!

• 8. The Fed just prints money and pumps it into circulation - WRONG!!

• 9. Federal Reserve Notes are nothing but FIAT money - WRONG!!

• 10. The Fed is privately owned - RIGHT!! Well, one out of ten being right is about par for most patriots - which is why I call them patri - idiots.

So what is the truth about all these Fed myths??

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