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"SEC. I6. Federal reserve notes, to be issued at the discretion of the Federal Reserve Board for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are hereby authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues They shall be redeemed in gold on demand at the Treasury Department of the United States, in the city of Washington . . ., or in gold or lawful money at any Federal reserve bank."

I'm almost too afraid to look, but the Federal Reserve must be stopped.  Let's see, the Treasury takes in $2 Trillion per year in taxes;  the ruling establishment has tripled the spending, pegging at $3.6 Trillion per year; meaning we have to finance a deficit of $1.6 Trillion per year; and we're facing interest payments on the national debt of $5 Trillion per year with unfunded "social" obligation at $100 Trillion.  Now we find out the Federal Reserve Bankster Cartel passed out over $7 Trillion in goodies to member banksters before they secretly passed out $16.2 Trillion to the Cartel to cover the 2008 financial collapse losses. Time to dust off Executive Order 11110, issued by President John F Kennedy five months prior to the coup d'état, giving the Treasury Department the explicit authority to issue silver certificates backed by Treasury silver bullion, if needed.  Basically Order 11110 stripped the Federal Reserve Bankster Cartel of it's power to loan money to the US Government at interest.  The Federal Reserve Notes in use would be competing with newly minted US Silver Certificates.   It would be easy enough to pay off the Bankster Cartel interest with official Federal Reserve Notes since there is so much paper out there.  But i would prefer the RiCO statue be invoked, assets seized, and charges of treason levied via the outrageous violations of the 1792 Coinage Act and conspiracy to destroy the dollar.   Many Americans, myself included, have long wondered why We the People would charge ourselves "interest" on money we borrow from our future selves?  Who does that?  But when we discover that the Federal Reserve is about as 'Federal" as Federal Express, the narrative wuickly leads to questions of how did it happen that we turned governance and stewardship of the national currency over to a private cartel of banksters?   Is the Federal Reserve Bankster Act of 1913 constitutional? Hardly.  Article 1 Section 8 of the Constitution la

Thanks to Marbux we have this extraordinary collection of facts and figures describing the economic catastrophe that has hit the USA.  excerpt: "What a year 2012 has been!  The mainstream media continues to tell us what a "great job" the Obama administration and the Federal Reserve are doing of managing the economy, but meanwhile things just continue to get even worse for the poor and the middle class.  It is imperative that we educate the American people about the true condition of our economy and about why all of this is happening.  If nothing is done, our debt problems will continue to get worse, millions of jobs will continue to leave the country, small businesses will continue to be suffocated, the middle class will continue to collapse, and poverty in the United States will continue to explode.  Just "tweaking" things slightly is not going to fix our economy.  We need a fundamental change in direction.  Right now we are living in a bubble of debt-fueled false prosperity that allows us to continue to consume far more wealth than we produce, but when that bubble bursts we are going to experience the most painful economic "adjustment" that America has ever gone through.  We need to be able to explain to our fellow Americans what is coming, why it is coming and what needs to be done.  Hopefully the crazy economic numbers that I have included in this article will be shocking enough to wake some people up. The end of the year is a time when people tend to gather with family and friends more than they do during the rest of the year.  Hopefully many of you will use the list below as a tool to help start some conversations about the coming economic collapse with your loved ones.  Sadly, most Americans still tend to doubt that we are heading into economic oblivion.  So if you have someone among your family and friends that believes that everything is going to be "just fine", just show them these numbers.  They are a good summary of the problems that the U

"The privately owned Federal Reserve is not a government agency.  The privately owned Federal Reserve Bank (The Fed) is privately owned by a group of primarily foreign bankers.  In 1913, Congress sank America into eternal debt by giving the power to issue currency and control the American economic system to the privately owned Federal Reserve Bank.  Who are the owners or chief shareholders of the privately owned Federal Reserve?     Originally, there were reportedly 203,053 shares of privately owned Federal Reserve stock, of which approximately 65% were owned by foreigners and approximately 35%(72,000 shares) were:  1. Rockefellers' National City Bank = 30,000 shares  2. Chase National = 6,000 shares (currently Chase Manhattan and owned by David Rockefeller)  3. The National Bank of Commerce = 21,000 shares (now known as Morgan Guaranty Trust)  4. Morgans' First national Bank = 15,000 shares  Interestingly, the total shares owned by Rockefellers interests equal 36,000 shares and the total of Morgans' equals 36,000 shares.  Although the privately owned Federal Reserve Act of 1913 provided the names of the owner banks be kept a secret, R.E. McMaster, publisher of the newsletter" The Reaper" discovered, through confidential Swiss banking connections, that the following banks have controlling interest in the privately owned Federal Reserve   1. Rothschild Banks of London and Berlin  2. Lazard Brothers Bank of Paris  3. Israel Moses Sieff Banks of Italy  4. Warburg Bank of Hamburg, Germany and Amsterdam  5. Kuhn Loeb Bank of New York  6. Lehman Brothers Bank of New York  7. Goldman Sachs Bank of New York  8. Chase Manhattan Bank of New York (Controlled By Rockefellers) "

Excellent article explaining how and why the Federal Reserve ended Obama's nutty plan to produce a Trillion dollar coin.  Short story: the T-Coin threatens the Federal Reserve's monopoly on the just as phony and totally debased dollar.  The author also discusses the dollar's role as the world's reserve currency and what that means.   The author also explains that the US has been borrowing over a Trillion dollars per year to finance the war and welfare Obama machine, PLUS, borrowing even more to finance the near $4 Trillion dollars of past debt that rolls over each and every year!   excerpts: When the Federal Reserve system was initially created back in 1913, the bankers that created it intended for it to be a perpetual debt machine that would extract massive amounts of wealth from the U.S. government (and ultimately from all of us) through the mechanism of compound interest.  Each year, hundreds of billions of dollars of interest are transferred into the pockets of the wealthy bankers and foreign nations that own our debt.  This is one of the reasons why I preach about the evils of government debt until I am blue in the face. The debt-based Federal Reserve system is a way to systematically steal the wealth of the United States, and it is happening right in front of our eyes, but very few people actually understand it well enough to complain about it. Unfortunately, we are rapidly getting to the point where we have accumulated so much debt that it is threatening to collapse our entire financial system.  The following comes from a recent Zero Hedge article...  "Unfortunately, the rest of the world is starting to move away from the U.S. dollar.  Over the past couple of years, a whole host of international currency agreements have been signed that are intended to start reducing the use of the U.S. dollar in international trade.  For much more on this, please see the following article: "The Giant Currency Superstorm That Is Coming To The Shores Of Americ

Wow!  Blockbuster stuff.... excerpt: Barack Obama is proving to be one of the worst presidents in all of U.S. history.  Perhaps when it is all said and done he will be recognized as the absolute worst.  Not that George W. Bush was much different.  In fact, the Republican Party will not regain much credibility with the American people until it admits that George W. Bush was an absolutely horrible president.  Sadly, the truth is that we have not had a decent president in decades.  This statement is going to upset almost everyone that is still trapped inside the false left/right political paradigm in this country, but I am not here to pander to the political establishment. Barack Obama is a horrific president. So was George W. Bush. That is the truth. Not that it is our presidents that actually run our economy.  As far as the economy is concerned, the U.S. Congress deserves as much (or more) of the blame as the executive branch does. However, if you really want to point fingers at someone, then you should place the most blame on the Federal Reserve. As I have written about previously, the Federal Reserve has more power over our economy that any other single institution.... So exactly what is the Federal Reserve?  Most people would say that it is an agency of the federal government.  But that is absolutely not true.  In fact, the Federal Reserve itself has argued in court that it is not an agency of the federal government.  Rather, the Federal Reserve is a privately-owned banking cartel that has been given a perpetual monopoly over our monetary system by the U.S. Congress.  This privately-owned central bank has been destroying the value of the U.S. dollar for decades, it has run our economy into the ground and it has driven the U.S. government to the brink of bankruptcy.  The Federal Reserve operates in great secrecy, it has never been subjected to a comprehensive audit and it is not accountable to the American people.  Yet the decisions that the Federal

More great charts, this time courtesy of the US Treasury Department. The charts use select areas of measurement to show a slowly improving economy, with the private sector leading the way. What the charts don't show or discuss is that the Obama economy has been assisted by $3 Trillion in Federal Reserve Bankster Cartel "quantitative easing", and the $5 Trillion in debt that Obama spending has racked up. Throw in the secret $16.1 Trillion the Federal Reserve pumped into the international bankster system, and the question becomes, "Where is all this money going? And why isn't the economy jumping?" The numbers are staggering. One chart provided by Treasury shows a successful TARP program where the Banksters have paid back in full the massive bailout funds. One has to wonder though, are they paying back the taxpayer bailout with newly generated profits? Or are they simply using freshly printed Federal Reserve dollars ($19.1 Trillion by the Federal Reserve's count), passed to them at zero interest? The shell game Obama, the ruling establishment, and the Federal Reserve Bankster Cartel have been playing may be running out of steam. We're now in the money laundering stage where Banksters and trading partners like China are dumping their digital-ions of dollars for real property, corporate assets and hard currencies. The St Louis branch of the Federal Reserve Cartel says as much in their most recent economic study. From the article: ....... The nation's debt load has grown to the point where the U.S. is now threatened with bankruptcy but the economy is not likely to grow fast enough to reduce the need for additional government borrowing. Empirical studies have shown a strong correlation between high levels of debt and reduced economic growth which results in decreased government revenue as explained below.......... An essay published by the St. Louis Federal Reserve on the Federal debt poised the question, "Too Little Revenue or Too Much Spe

On accessing federal law, two sites to bookmark: Legal Information Institute, Cornell University, http://www.law.cornell.edu/lii/get_the_law Justia.com, http://www.justia.com/ A further resource, the Jureeka extension for Chrome and Firefox will automatically link legal citations in your brower's display to the corresponding web pages on the LII site. http://www.law.cornell.edu/jureeka/download/

Ron Paul racks up another near win, as conservative writer Alan Caruba smells the coffee and starts paying attention to the criminal enterprise known as the Federal Reserve Bankster Cartel.  It's about time.  But sadly there are too few conservatives paying attention to the money.  Sadly, conservatives choose to wallow in 1980 political issues where conservative social values and national security - military buildup were the concerns of the day. The truth is that it's always the money.  Follow the money!!  And all things will become clear.  Including how to get America back on track. excerpt: Anyone taking notice of Obama's latest budget has to conclude that his mission is to crash the nation's economy and turn America into a Socialist worker's paradise. The only problem is that Socialism has been a dismal failure everywhere it has been tried. One only has to look at the collapse of the Soviet Union for confirmation of that, the Chinese abandonment of Communist economic theory, and Obama's odd notion that a nation can spend itself out of ever-increasing debt. I am not a fan of Paul's isolationism, but he is absolutely right about getting rid of the Federal Reserve. Established in 1913, the same year income taxes were instituted, the Reserve is not part of the federal government. It is, in fact, privately owned by a consortium of banks and that might include foreign banks as well. In a remarkable essay, "10 Things That Every American Should Know About The Federal Reserve" by Michael T. Snyder, it is clear that the Constitution intended to have the U.S. Treasury to be soley responsible to "coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures." Synder points out that the Federal Reserve System (the Fed) is a privately owned banking cartel and one granted the right to create money out of thin air. It is, says Synder "a perpetual debt machine because "whenever more money is created, more debt is creat

Interesting two part summary of the Federal Reserve that emphasis' the essential relationship between central banking and socialism.  The author, Richard Ebeling, goes as far as to say that not only is central banking essential to socialism but also that free market - individual liberty capitalism cannot coexist with central banking. IIRC, there is a clause int he Federal Reserve Act of 1913 where the US Treasury can purchase back control of the money supply at a cost of $144 Million dollars.  Not sure where I read that, but the cancellation of near two thirds of the interest due on our national debt would work wonders for the dollar.

Incredible and passionate argument concerning the States natural God given right to nullify and render unenforceable un-Constitutional actions of the Federal Government.  As "creators" of the Federal Government, the States are obligated to nullify un-Constitutional actions and interpose Constitutional alternatives.  Huldah sites Jefferson, Madison and Hamilton as the primary Constitutional authorities for her rock solid argument.   If ever you want to learn about the Constitution, Publius Huldah is clearly the place to go.  

excerpts:  With a $3.83 trillion budget, a $12.3 trillion federal government debt, a $1.35 trillion 2010 budget deficit and $63 trillion in unfunded liabilities, the fiscal condition of the US has come into question and foreign interest in US Treasuries has declined.  In late March, it was reported that the 10-year US Treasury Note yield had risen 30 basis points and that foreign holders of 10-year Notes were selling in record numbers. It seems unlikely that direct bidders within the US can compensate indefinitely, or to an unlimited extent, for falling foreign demand.  Commenting on the ambitious spending plans of the US federal government, Zhu Min, Deputy Governor of the People's Bank of China said in December 2009 that "the world does not have so much money to buy more US Treasuries." It would certainly be unreasonable for the US federal government and Federal Reserve to assume that ambitious deficit spending and ongoing quantitative easing (QE) would have no cumulative impact on US Treasury auctions.  If there is a limit to foreign appetite for US debt, to foreign capacity to lend to the US, or to international tolerance for US dollar devaluation, the US government and Federal Reserve seem determined to find it. It seems unlikely that direct bidders within the US can compensate indefinitely, or to an unlimited extent, for falling foreign demand.  Commenting on the ambitious spending plans of the US federal government, Zhu Min, Deputy Governor of the People's Bank of China said in December 2009 that "the world does not have so much money to buy more US Treasuries." It would certainly be unreasonable for the US federal government and Federal Reserve to assume that ambitious deficit spending and ongoing quantitative easing (QE) would have no cumulative impact on US Treasury auctions.  If there is a limit to foreign appetite for US debt, to foreign capacity to lend to the US, or to international tolerance for US dollar devaluation, the US government and Feder

This is the March of 2008 repub of the infamous Dear Lou letter, written by Jesse Richard. Tracks exactly with the March 2008 collapse of Bear Stearns and the subsequent Federal Reserve - US Treasury bailout. IMHO, the Bear Stearns bailout and conversion was a test run to determine how the public and Congress would react. The key factor was the massive conversion of private Bankster debt to public (taxpayer) debt. Another way of saying this: socialize the losses and privatize the profits. The go between in this mechanism is the secret connection between the Federal Reserve cartel of private Banksters, and the US Treasury. Congress, through war and social programs, racks up enormous debt. Currently about $4 Billion of debt per day. This is the amount of spending beyond taxes and other revenue sources. To fund this debt, the Treasury sells bonds, most of which are currently being purchased by Banksters and Financial interests closely associated with a cascading network of interconnected Federal Reserve shareholders. Foreign sovereign bond purchasers like China and Japan mostly dropped out of participation in the Treasury auctions in 2008, as they started dumping US Treasury holdings. Today, the circle of USA debt works like this; the Federal Reserve provides member Banksters and International Bankster associates with Trillions of dollars of near interest free money ($16.1 Trillion in 2009-2010). The Banksters then purchase the US treasury bonds at whatever the auction interest rate turns out to be. In essence, we are loaning ourselves the money to pay off our government debt, with interest. Exactly as Mr Richard claims in his infamous letter. excerpt: Let me ask you a simple question: what country in its right mind would create a system that would force it to lend itself money and have to repay the money WITH INTEREST? What country would charge itself interest? What nation would put itself out of business by making it bankrupt because

Incredible must read analysis. Take away: the world is going to go "medevil". It's the only way out of this mess. Since the zero hedge layout is so bad, i'm going to post as much of the article as Diigo will allow: Jim Kunstler's 2014 Forecast - Burning Down The House Submitted by Tyler Durden on 01/06/2014 19:36 -0500 Submitted by James H. Kunstler of Kunstler.com , Many of us in the Long Emergency crowd and like-minded brother-and-sisterhoods remain perplexed by the amazing stasis in our national life, despite the gathering tsunami of forces arrayed to rock our economy, our culture, and our politics. Nothing has yielded to these forces already in motion, so far. Nothing changes, nothing gives, yet. It's like being buried alive in Jell-O. It's embarrassing to appear so out-of-tune with the consensus, but we persevere like good soldiers in a just war. Paper and digital markets levitate, central banks pull out all the stops of their magical reality-tweaking machine to manipulate everything, accounting fraud pervades public and private enterprise, everything is mis-priced, all official statistics are lies of one kind or another, the regulating authorities sit on their hands, lost in raptures of online pornography (or dreams of future employment at Goldman Sachs), the news media sprinkles wishful-thinking propaganda about a mythical "recovery" and the "shale gas miracle" on a credulous public desperate to believe, the routine swindles of medicine get more cruel and blatant each month, a tiny cohort of financial vampire squids suck in all the nominal wealth of society, and everybody else is left whirling down the drain of posterity in a vortex of diminishing returns and scuttled expectations. Life in the USA is like living in a broken-down, cob-jobbed, vermin-infested house that needs to be gutted, disinfected, and rebuilt - with the hope that it might come out of the restoration process retaining the better qualities of our heritage.

Stunning stuff.  No need to bailout the European Banks because the Federal Reserve has already done that!!! The Levi Institute of Economics has published the details of the Federal Reserve's International Bankster bailout from late 2007 to 2009.  It's far more than the $16.2 Trillion the GAO audit uncovered in July of 2010.  It's far more than the $7.77 Trillion Bloomberg discovered in their Freedom of Information action against the Federal Reserve.  Researching the "recipients" of the USA Federal reserve Bankster largess, the Levi Institute documents a whopping $29 Trillion has been distributed to Bankster coffers at near zero percent interest.   Note that no debt, and no loans of any kind has been purchased, retired, restructured or otherwise dealt with.  The bad loans remain on the books, including crushing interest payments that continue to escalate and accrue.  Debtors continue to fall deeper into debt.  Foreclosure and default loom over public, private and sovereign debtors.  So where did the money go?  $29 Trill is more than enough to retire the entire USA national debt, with interest, and, every mortgage both public and private in the USA. abstract: There have been a number of estimates of the total amount of funding provided by the Federal Reserve to bail out the financial system. For example, Bloomberg recently claimed that the cumulative commitment by the Fed (this includes asset purchases plus lending) was $7.77 trillion. As part of the Ford Foundation project "A Research and Policy Dialogue Project on Improving Governance of the Government Safety Net in Financial Crisis," Nicola Matthews and James Felkerson have undertaken an examination of the data on the Fed's bailout of the financial system-the most comprehensive investigation of the raw data to date. This working paper is the first in a series that will report the results of this investigation. The extraordinary scope and magnitude of the recent financial crisis of 2007-09 required an

Excellent history of how America lost it's Constitutional Republic.  The author tags the first progressive (marxist/socialist) President, Woodrow Wilson, as the culprit.  In 1913 Wilson shoved through the 16th and 17th Amendments.  He also pushed through the midnight express known as the Federal Reserve.  And as if that was not enough damage, he pushed for the "League of Nations" - a precursor to the present day United Nations Globalist New World Order. Oh yeah, the first progressive president also jacked us into humanities first World War. Wilson was a Manchurian stooge for the Globalist Rothschild Banksters, and the USA Bankster contingent led by Rockefeller, Morgan and Carnegie.   Note that in the election of 1896, the Banksters banked the corporatist McKinley against the GOLD standard populist, William Jennings Bryan.  McKinley was assassinated in 1901, and his VP, Teddy Roosevelt, became President.  Roosevelt successfully went after the Robber Bankster Barons; Rockefeller, Carnegie and Morgan, passing the Sherman Anti Trust laws and bringing the criminal corporations to trial.  This set the stage for the Bankster coup in 1913, where, with the election of Wilson the Banksters ended the great Consttitutional Republic and ushered in a century of ever encroaching socialist tyranny. ........................... excerpt: "One hundred years ago, our federal government, under control of the progressive Woodrow Wilson, took actions that have since become a disaster for these United States. Looking back, these actions were the beginning of what could be the end of our Constitutional Republic. With progressives in control in 2013, similar actions are underway that could complete a sinister view by progressives then and now to "transform" us into something our Founders never intended, and most Americans through the years never wanted and still don't. In 1913 our Constitution was amended by the ratification of two amendments, the Sixteenth and Seventeenth, an

Not a big Peter Beinhart fan, but this article explains a large part of the Ron Paul phenom. After a life time as a big C Goldwater-Reagan Constitutional Conservative, this summer i made a full transition to big C Constitutional Libertarian. The tipping point for me was the GAO audit of the Federal Reserve, where they discovered $16.1 Trillion of taxpayer dollars missing from the Federal Reserve Bankster Cartel management books. It went to a who's who of international Bankster Cartel members. None of the taxpayer funded "financial collapse of 2008" bailout dollars went to the purposes chartered by their legislation. That includees the TARP $850 Billion, the Obama Stimulous $1 Trillion, and the mega FRBC $16.1 Trillion. No bad debts were purchased and retired. No rotting mortgage securities were swept up and restructured. No shovel ready jobs either. And no one in government or banksterism having caused the financial collapse went to jail. Instead, the perps feasted on the bailout dollars. The debt remains on the books of international Banksters, collecting interest, thirsting for foreclosure. The Bankster Cartel members are flush with cash, but not lending. By law (The Federal Reserve Act of December 23rd, 1913), FRBC members must keep a significant amount of their assets on "reserve" at the Federal Reserve, at 6% interest. In exchange for managing this process and the exploding money supply, the taxpayers of the USA are obligated by law to pay the FRBC 1% per year of (assets under management" (the money supply). Take note: the FRBC takes the 1% per year payment for their services in the form of GOLD!! They will not take payment in the form of paper notes labeled legal tender "Federal Reserve Notes". They only take GOLD. My transition to Constitutional Libertarian begins with a strct reading of the Constitution (the How), the Declaration of Independence, (the Why), and belief in the Rule of Law, not man. The concept of achievi

This article has two parts.  The first is Bernanke's waarnign to Congress that the Federal debt is out of control and they need to raise taxes AND cut spending.  The second part however is far more interesting.  Author Greg Hunter describes the Bloomberg Media court quest to force the Fed to reveal which banks received $2 trillion in bailout money and why.  Bernanke of course is fighting in the courts to keep this secret.   excerpts:  Earlier this week, Fed Chief Ben Bernanke told Congress to basically raise taxes and cut the federal budget.  The inference was, if Congress doesn't get its financial house in order, it will be their fault if the economy tanks.  Here is how Bernanke actually said it, ". . . Maintaining the confidence of the public and the financial markets requires policy makers more decisively to put the budget on a sustainable fiscal balance."   Bernanke also said the federal debt ". . .is already expected to be greater than 70%" of Gross Domestic Product, ". . . at the end of 2012."  And if that is not bad enough, Bernanke said that by 2020, ". . .federal debt would balloon to more than 100% of GDP," provided  taxes are not raised and budgets are not cut.  The Fed was sued by financial news network Bloomberg two years ago.  Bloomberg wants the Fed to reveal which banks received $2 trillion in bailout money and why.  Bloomberg won the case and the Fed appealed.  Bloomberg, also, won the appeal in March 2010!  The precedent setting case would force the Fed to reveal the details of secret bank bailouts-including $500 billion given to foreign financial firms!!    In a Bloomberg story earlier this week, lawyers representing the Federal Reserve (which is made up in part by big U.S. banks) said, "U.S. commercial banks will take their fight against disclosure of Federal Reserve (documents) in 2008 to the Supreme Court if necessary . . ."  Lawyers representing the Fed say they are worried that if details of tril

In my view, the Fed is beyond salvage. It needs abolition, not a new role. The Constitution grants Congress the power to mint and coin money, not a group of rent-seeking banksters.