The creature from Jekyll Island

Thank you, Point. I’ve been trying to get a better understanding of the fed lately and that man presents it well.

I still do not understand, since the treasury is a government office, why our govt does not simply print the money rather than borrow it from the fed. The money is being created regardless, our choice seems simple: to pay interest or not. Maybe I just didn’t read the federal reserve act carefully enough – it is very dry. But that seems to me to be the most basic step we could take to begin to improve our lives.

I also don’t understand how the fractional reserve system is in place. How can banks create money through loans, charge you interest for it, then sieze your property if you fail to pay? Their initial capital represents no more than 10% of the loan created (if that, with loopholes in the reserve ratio requirement it can be less). There does not seem to be a law or government regulation that grants the power. Maybe it can be inferred from the federal reserve act (though I don’t see it) or assumed as a right by the banks from some wording in the act?

I’m not sure the author’s right in going to a gold standard. If the other sources I’ve looked at are right, the market is mostly cornered and subject to manipulation. But it seems we’ve got to do something soon. I watched a doc from another post “Money Changers” or something like that. The writer argued for a full-reserve fiat currency with a volume based on production, to be issued by the government. I’m not sure how that could be achieved, but it doesn’t seem that our fine representatives would have to be that accurate to keep the system liquid and inflation down. We’ve been operating without even attempting it for 80 years now. We probably couldn’t do worse, but then it may be too late for just making policy like we’re playing horseshoes. Things are looking bad. So much disturbing news lately and then to have Celente come out with his predictions and to also mention the detention camp contract within our borders. I hope he’s wrong.