The Federal Reserve and Death of the Dollar
In November 1910 a secret meeting of wealthy bankers took place on Jekyll Island off the Coast of Georgia. Their purpose was to create a plan to control the US money supply by obtaining a franchise from the government to create money out of nothing for the purpose of lending, get control of all banks, and pass on losses to the American taxpayer via bailouts. They decided to call it the Federal Reserve System.
Attending the meeting were the following 7 men.
1. Nelson Aldrich – Chairman of the Nat’l Monetary Commission & father-in-law to John D. Rockefeller, Jr.
2. Henry P. Davidson – Sr. Partner, J.P. Morgan Co.
3. Chas D. Norton – Pres. 1st Nat’l Bank of New York.
4. A. Piatt Andrew – Asst Sec of the Treasury
5. Frank A. Vanderlip – Pres. Nat’l City Bank of New York representing Wm. Rockefeller.
6. Benjamin Strong – Head of J.P. Morgan’s Banker’s Trust
7. Paul M Warburg, representing the European Jewish Banking firm of the Rothschilds.
The question is why was a foreign banker, the Rothschilds involved in setting up a private banking system in the US, which the Congress has no control over and has never been audited?
The entire function of the Fed is to convert debt into money. How does this work? First, the treasury sells bonds to the public to finance its spending. All the bonds not sold are bought by the Fed and even though its debt to be repaid, deposits the bonds as assets to be loaned out at 9 times its value, which is deposited in other banks and expanded with more loans and on and on, creating a mountain of debt on debt. This is biggest ponzi scheme in the history of civilization and any person doing the same like Bernie Madoff is put in prison. The Federal Reserve is not an organization. It is owned and controlled by bankers both foreign and domestic. A world organization.
This process creates a hidden tax on the public in the form of inflation, too much fiat paper money chasing too few goods. In addition to depreciating the peoples’ money, if any bank has to be bailed-out for poor lending practices, the taxpayers get to pay for it.
In the process, the big bankers make billions in interest and salaries, which they use to pay off the politicians and congress continues to spend and spend and spend. There is no way to pay off all the trillions of debt of the government. Historically, no unbacked paper money system has ever lasted. Every paper money system has eventually failed and there have been nearly 4000 failured systems. But that won’t happen to the USA because we’re richest nation on earth, or so the sheeple think.