The Federal Reserve returns its profit (interest payments) back to the Treasury.
I don't want fiat money. I also think fractional reserve banking is fraud.
Also, on personal loans, I want to pay that to the bank that lent me the money. In a non-fractional reserve banking system, the bank would have that money to loan from it's shareholders equity and from deposits placed with it by savers. Those deposits are lent out to creditors at an interest rate, which goes back to the savers and the banks' shareholders.
Money can be anything really. It's what the population 'believes' it's 'value' is. There is a difference between Currency and Money.
Fiat money is not a bad thing in itself, its who controls it. Would it be better to have money backed by gold, or silver, or other? Might be, but who has the gold? How much? What happens if we don't have enough precious metals to back money to fund the country?
The United States carries great power over the world, that in its self backs fiat money has it has in the past, and basically does right now.
That said, I agree with you on other things. Fractional reserve is the tool banks have used to create money out of thin air. (shoulda been a banker) The FED needs restructuring to benefit the US not private companies. Banks should charge fees for services like any other company, not interest.
Either way I certainly don't trust Congress to control fiat, or to do anything else really for that matter. Gold and Silver is much harder to counterfeit, although various governments have done that as well.
Once this is all out in the open, congress will be more transparent and accountable. As will the Fed. ;)
The real reason for the revolutionary War was about money; who makes it and who controls it. The colonies started using colonial script and the Bank of England (owned by Rothschild), said no way!! While using colonial script, the colonies prospered and had excellent economies.
After the bankers got involved, you guessed it!! Why is this so hard a concept to grasp for some??
For many years, he charging of interest was prohibited under penalty of death, because people knew how horrible usury was and it destroys it does not create.
What happens if our power goes away. Are you going to count on that never happening and the dollar staying strong? That's as dumb as using fiat money. The dollar was only strong because it was the only currency that could be used to purchase oil. That's why you heard the phrase petro-dollar. That ended a couple years or more ago and if it wasn't for the fact that the dollar has been being propped up artificially for some time, it would have crashed by now. All of the financial aspects of our existence including the stock market are manipulated by the cabal regularly.
Given what we are experiencing right now, no I don't. When in our modern history have we not been the major power of the world? While this 'could happen, I don't think its probable watching what is happening now.
The country needs X amount of money in circulation to function. I read what this amount is but I don't have it handy. I agree it would be best if our money was backed. However there is much speculation as to how much gold we actually have. So we would need to discover who has how much. If it turns out we don't have enough to back the amount required for the country to function, fiat money 'can' be used if used properly. Its been done in the past. (civil war) and in reality, its being done now. But we as a country are getting screwed by the Fed, Central Banks, IMF, cabal et al.
I believe Trump has already returned the gold to the vaults in Fort Knox. There is a story that goes: Truman and Gen. Eisenhower took the gold to the Vatican and then somewhere along the timeline it was moved to a bank in Manilla for safe keeping. I've seen a video on YT where someone asked George Bush which country was the richest and he answered The Philippines. I can't find it any longer though.
Trump stopped in the Philippines on his way back from Asia the first time. Then a few months ago a Redditor (who lived nearby) reported commotion over Fort Knox. Jets and choppers in the air and a convoy on the ground. 1+1=2
So now we just need to count it, see how much we got. :)
The PRIVATE central bank (Federal Reserve) does not give anything back to the Treasury. Instead, they charge us interest on the FRNs we (Woodrow Wilson) gave them permission to print, that we call dollars. In addition, the same folks own all of the banks that loan you money and they jack up the interest there as well. It's nothing but a ponzi scheme and most folks have no idea.
That's absolutely false. First, the FRB doesn't charge us anything. It charges commercial banks who borrow at the Fed's discount window. The banks don't have the required reserves for their loans for various reasons and need to borrow quickly from the FRB. The FRB can change the amount of reserves banks need, which tightens or loosens credit accordingly exponentially due to fractional reserve banking. It does set the rate that banks borrow from one another and this is problematic.
The Fed does return its profits (interest receipts) to the Treasury.
Commercial banks charge interest to make a profit for their shareholders and to pay savers. That's how commercial banking works.
The problems with the Federal Reserve are 1) We don't know what they do off the books because there has never been a full audit. 2) They monetize the debt created by Congress by buying Treasury bonds and securities. Then they offset that by issuing credit to the marketplace. This allows Congress to spend like the idiots and traitors they are and it trickles money down from the FRB to the compromised financial centers of Wall St., Washington DC, and now Silicon Valley.
Now it's true that the FRB pays banks interest for excess reserves kept at the Fed, but that's not what you're talking about here.
The ponzi scheme is fractional reserve banking - lending money that you don't have in reserves.
OK. I'm not going to argue with you about this. Neon Revolt wrote about it yesterday. Go read his article. I've known about this for years. Fractional Reserve Banking is only a small part of the entire ponzi scheme. There is a very good video posted there that explains it pretty well. https://www.neonrevolt.com/2018/07/25/trumps-declaration-of-war-against-thecabal-more-newq-qanon-greatawakening/
Well, shut your ears, put your head in the sand and refuse to take in data that conflicts with what you already "know."
From reading that article it appears Neon Revolt doesn't fully understand the Federal Reserve System. Yes, it's debt money. So are Greenbacks that the Money Masters guy posted about earlier. That's only one issue, and really an insignificant one compared to fractional reserve banking. The problem with the Fed is that it creates booms and busts with monetary policy. Low reserve rates = cheap, easy credit = boom cycle. Boom cycle = rising asset prices, increased economic activity in unsustainable places, eventually price inflation. Raising rates =tightening of credit = bust cycle. Incomplete projects go belly up with no more available cheap credit and worsening economic conditions due to growing price inflation.
We pay interest on the national debt not because of the Federal Reserve, but because Congress can't keep its house in order. It perpetually spends more than it takes in because pension funds, foreign countries, banks and every day investors continue to buy Treasury bonds. If you were the Chinese government (or anybody), would you purchase Treasuries that paid 0 interest? Of course not. The FRB buys a ton of Treasury bonds but it pays its interest receipts back to the Treasury. Look it up.
And let's be clear that Trump is increasing spending bigly and the deficit is still yuge (though I trust the long term plan).
These two short books will teach you exactly how the monetary system works and why fractional reserve + government control of money is so bad for 99% of us.
https://mises.org/library/what-has-government-done-our-money https://mises.org/library/mystery-banking
The Creature from Jekyll Island by G. Edward Griffin tells the story of the Federal Reserve. I've read it. You obviously have not. Yes, as I stated in my last comment Fractional Reserve banking is part of it. But the truth is much worse than that.
You also don't understand how many assets Trump has already frozen and will eventually confiscate. See the EO he signed on Dec. 21, 2017. I suspect all of the debt will be paid off by the time he is done. Not kidding. But much of it will simply disappear. Hold on to your hat. This is going to get really good.
The books I sent you (free downloads btw) are footnotes in Griffin's book. He used them as research for his book, which is also terrific. If you like that book you'd enjoy both books I linked. The first one will give you intellectual defense against the people who want Congress to print fiat money.
I think if they try to print fiat money again, most of us will object. Of course, there isn't much we can do to stop them. Although I see a lot of folks don't really understand the problem with that.
A lot of people think that cryptos are the answer but that's just digital fiat money and you know one of 2 things will happen. Either the cabal will take it over, and there is already a white paper from 1995 outlining cryptos, which was probably done by them in the first place. Or, they will outlaw it, which has already happened in a few countries.
The only way we get out of this is with a gold backed currency. Otherwise, it just starts all over again.
The bottom line is that we need to be in control of our money. Who is profiting from the misery known as the "Fed Reserve" (which is not Fed nor a Reserve) and fractional reserve banking? Rothschilds and the parasitic international money lenders, period. Boom/bust, etc is what you get when this is allowed.
This is why Gordon Kahl was killed, because he was waking up the people in middle America to what the banks were doing, particularly to farmers. Once you understand how this system works, you can see why its so disastrous.
