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<blockquote data-quote="CaryP" data-source="post: 24537" data-attributes="member: 34"><p><strong>Re: World Finance Watch</strong></p><p></p><p>Hey Bubbu,</p><p></p><p>Great post man. Would you be terribly offended if I made some additions and minor clarifications to your post? I hope not, cause I'm just enough of a jerk to do it without hearing from you. LOL Nothing major man, just some minor points. I get pissed thinking about the Fed myself.</p><p></p><p></p><p>The "capital" behind central banking systems in general is non-existent. Most, if not all, countries issue fiat currency. No country to my knowledge has an exchange rate with any hard assets redeemable by the respective treasury.</p><p></p><p>I'm glad you brought up the Knights Templar. There's a whole series of articles that I'll provide links to about the history and evolution of banking systems. It's the "Whence & Pence" series, which I believe is still being written. </p><p></p><p>You had a good explanation of the fractional reserve banking system. The Knights Templar were good at it, and got rich off of lending money to the royal houses of Europe. That's why the King of France got the Pope at the time to declare the Knights Templar as heretics. A lot of the Knights were tortured and killed. Lands, assets and personal property of the Knights was confiscated by the monarchy. The French King couldn't pay off his loans to the Knights and the interest was bankrupting him. So he had them killed off for the most part, seized their assets (the ones he could) and repudiated the debt he owed them. Shrewd and vicious bastard. The origins of Friday the 13th as unlucky comes from the initial crackdown on the Knights, which was a Friday the 13th, April I believe.</p><p></p><p>Yes, we've had several experiences with central or "federal" banks in the U.S. with the Federal Reserve as the current version. Before that, the Second Bank of the United States did not have its charter reviewed by Andrew Jackson. The Rotschild empire is definitely a part of the banking cartel that owns the Fed through its member banks. The income tax system was passed in the same year as the Fed, 1913, but before the Fed's creation. While, the Fed didn't set up the income tax system, income taxes were instituted to be able to pay for the expanded govt. spending and interest to be created by the Fed's "money generating" ability. It was the same people behind both schemes - Rockefeller and J.P. Morgan, so I guess you kind of have a point. But technically, the income tax system was made law before the Fed.</p><p></p><p>Actually, the Fed doesn't technically lend money to Congress. Congress approves a budget, which has been a deficit for generations. So the spending is authorized by Congress, the Treasury is responsible for making sure the money is available for the budget. The Fed is allowed to create money "out of thin air" and can do so electronically now at no cost to the Fed. If currency is to be printed up, the Fed coordinates with the U.S. Treasury and its office of Printing and Engraving. The Fed gets money into the system through its New York bank bond desk. It buys Treasury debt from the open market, or from the Treasury direct with it's "free money" and holds the debt. The debt held by the Fed receives interest. This is how the Fed gets its funding. </p><p></p><p>So technically the Treasury pays interest on debt it has issued, which has been authorized by Congress in the budget process. Congress technically doesn't "pay" anything.</p><p></p><p>It does not recieve appropriations from Congress. And you're correct in that it hasn't been audited by Congress. It's not part of the federal govt. and Congress has no oversight powers over the Fed. The semi-annual Humphrey-Hawkins testimony is all smoke and mirrors. It makes it look like Greenspan is accountable to the Congress. He's not. He testifies before the Committe on Foreign Relations (NWO think tank) more than he does Congress. But the Fed does have expenses. It pays employees, maintains its real estate, operations, etc. But the excess is paid out as dividends to its member banks, who in turn pay dividends to the cartel that owns them.</p><p></p><p>You're right about the devaluation of the dollar since the Fed was created. The Constitution in Article 1, Section 8, specifically authorizes Congress with the responsibility of the issue of money and it's value. The Coinage Act of 1792 ( <a href="http://landru.i-link-2.net/monques/coinageact.html" target="_blank">http://landru.i-link-2.net/monques/coinageact.html</a> ) specified that the US would issue:</p><p></p><p>"Dollars or Units?each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenths parts of a grain of pure, or four hundred and sixteen grains of standard silver."</p><p></p><p>As long as we stayed on some form of hard currency backing our money supply, the value of the dollar held steady from the late 1790's through the mid to late 1920's. It was clear to every one that "one dollar" was redeemable in 371.25 grains of silver. Since then, the "value" of the dollar (aka Federal Reserve Note) has fallen over 95%.</p><p></p><p>I got to agree with you. Abolish the Fed and FRN's. Repudiate all debt held by the Fed. That'd wipe out about $4 trillion in Treasury debt. Get back to a currency backed by hard assets. The federal govt. got along fine without an incoome tax until the Fed came along. Abolish the income tax along with the Fed. Of course a lot of the social programs and global militarism would have to go away as well. Fine with me. Cancel all that crap. Turn the bums out of Washington, and turn this country back to the people. Would there be "bumps and pains" with dismantling all this? Absolutely. But we got some way more serious pain on the way anyway because of what the Fed has done since it's creation. I'll shut up now.</p><p></p><p>Cary</p><p></p><p></p><p>Here's the links to the "Whence & Pence" series:</p><p></p><p>Part One - The Founding</p><p><a href="http://www.financialsense.com/fsu/editorials/gnazzo/2005/part1.html" target="_blank">http://www.financialsense.com/fsu/editoria...2005/part1.html</a> </p><p></p><p>Part Two - The Confounding</p><p><a href="http://www.financialsense.com/fsu/editorials/gnazzo/2005/part2.html" target="_blank">http://www.financialsense.com/fsu/editoria...2005/part2.html</a></p><p></p><p>Part Three - The Sounding</p><p><a href="http://www.financialsense.com/fsu/editorials/gnazzo/2005/part3.html" target="_blank">http://www.financialsense.com/fsu/editoria...2005/part3.html</a></p><p></p><p>Part Four - The Resounding</p><p><a href="http://www.financialsense.com/fsu/editorials/gnazzo/2005/part4.html" target="_blank">http://www.financialsense.com/fsu/editoria...2005/part4.html</a> </p><p></p><p>Part Five - The Pounding</p><p><a href="http://www.financialsense.com/fsu/editorials/gnazzo/2005/part5.html" target="_blank">http://www.financialsense.com/fsu/editoria...2005/part5.html</a></p><p></p><p>Part Six - The Hounding</p><p><a href="http://www.financialsense.com/fsu/editorials/gnazzo/2005/part6.html" target="_blank">http://www.financialsense.com/fsu/editoria...2005/part6.html</a></p><p></p><p>Part Seven - The Rounding</p><p><a href="http://www.financialsense.com/fsu/editorials/gnazzo/2005/part7.html" target="_blank">http://www.financialsense.com/fsu/editoria...2005/part7.html</a></p><p>This is the one with the info you were asking me about Zoomerz about the "square mile" or financial district in the middle of London.</p><p></p><p>Part Eight - The Grounding</p><p><a href="http://www.financialsense.com/fsu/editorials/gnazzo/2005/part8.html" target="_blank">http://www.financialsense.com/fsu/editoria...2005/part8.html</a></p><p></p><p>Part Nine - The Wounding</p><p><a href="http://www.financialsense.com/fsu/editorials/gnazzo/2005/part9.html" target="_blank">http://www.financialsense.com/fsu/editoria...2005/part9.html</a></p><p></p><p>Part Ten - The Unwounding</p><p><a href="http://www.financialsense.com/fsu/editorials/gnazzo/2005/part10.html" target="_blank">http://www.financialsense.com/fsu/editoria...005/part10.html</a></p><p></p><p>There's a lot there, with links as well. You might want to print or save them on your computer so you can read them over time.</p><p></p><p>Wouldn't you know it. I get to the end of the post and find a page with links to all of the above, along with the author's series on Honesty Money. LOL My dumbass. Here's the link to all of these articles and then some.</p><p></p><p><a href="http://www.financialsense.com/fsu/editorials/gnazzo/archive.html" target="_blank">http://www.financialsense.com/fsu/editoria...zo/archive.html</a></p></blockquote><p></p>
[QUOTE="CaryP, post: 24537, member: 34"] [b]Re: World Finance Watch[/b] Hey Bubbu, Great post man. Would you be terribly offended if I made some additions and minor clarifications to your post? I hope not, cause I'm just enough of a jerk to do it without hearing from you. LOL Nothing major man, just some minor points. I get pissed thinking about the Fed myself. The "capital" behind central banking systems in general is non-existent. Most, if not all, countries issue fiat currency. No country to my knowledge has an exchange rate with any hard assets redeemable by the respective treasury. I'm glad you brought up the Knights Templar. There's a whole series of articles that I'll provide links to about the history and evolution of banking systems. It's the "Whence & Pence" series, which I believe is still being written. You had a good explanation of the fractional reserve banking system. The Knights Templar were good at it, and got rich off of lending money to the royal houses of Europe. That's why the King of France got the Pope at the time to declare the Knights Templar as heretics. A lot of the Knights were tortured and killed. Lands, assets and personal property of the Knights was confiscated by the monarchy. The French King couldn't pay off his loans to the Knights and the interest was bankrupting him. So he had them killed off for the most part, seized their assets (the ones he could) and repudiated the debt he owed them. Shrewd and vicious bastard. The origins of Friday the 13th as unlucky comes from the initial crackdown on the Knights, which was a Friday the 13th, April I believe. Yes, we've had several experiences with central or "federal" banks in the U.S. with the Federal Reserve as the current version. Before that, the Second Bank of the United States did not have its charter reviewed by Andrew Jackson. The Rotschild empire is definitely a part of the banking cartel that owns the Fed through its member banks. The income tax system was passed in the same year as the Fed, 1913, but before the Fed's creation. While, the Fed didn't set up the income tax system, income taxes were instituted to be able to pay for the expanded govt. spending and interest to be created by the Fed's "money generating" ability. It was the same people behind both schemes - Rockefeller and J.P. Morgan, so I guess you kind of have a point. But technically, the income tax system was made law before the Fed. Actually, the Fed doesn't technically lend money to Congress. Congress approves a budget, which has been a deficit for generations. So the spending is authorized by Congress, the Treasury is responsible for making sure the money is available for the budget. The Fed is allowed to create money "out of thin air" and can do so electronically now at no cost to the Fed. If currency is to be printed up, the Fed coordinates with the U.S. Treasury and its office of Printing and Engraving. The Fed gets money into the system through its New York bank bond desk. It buys Treasury debt from the open market, or from the Treasury direct with it's "free money" and holds the debt. The debt held by the Fed receives interest. This is how the Fed gets its funding. So technically the Treasury pays interest on debt it has issued, which has been authorized by Congress in the budget process. Congress technically doesn't "pay" anything. It does not recieve appropriations from Congress. And you're correct in that it hasn't been audited by Congress. It's not part of the federal govt. and Congress has no oversight powers over the Fed. The semi-annual Humphrey-Hawkins testimony is all smoke and mirrors. It makes it look like Greenspan is accountable to the Congress. He's not. He testifies before the Committe on Foreign Relations (NWO think tank) more than he does Congress. But the Fed does have expenses. It pays employees, maintains its real estate, operations, etc. But the excess is paid out as dividends to its member banks, who in turn pay dividends to the cartel that owns them. You're right about the devaluation of the dollar since the Fed was created. The Constitution in Article 1, Section 8, specifically authorizes Congress with the responsibility of the issue of money and it's value. The Coinage Act of 1792 ( [url=http://landru.i-link-2.net/monques/coinageact.html]http://landru.i-link-2.net/monques/coinageact.html[/url] ) specified that the US would issue: "Dollars or Units?each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenths parts of a grain of pure, or four hundred and sixteen grains of standard silver." As long as we stayed on some form of hard currency backing our money supply, the value of the dollar held steady from the late 1790's through the mid to late 1920's. It was clear to every one that "one dollar" was redeemable in 371.25 grains of silver. Since then, the "value" of the dollar (aka Federal Reserve Note) has fallen over 95%. I got to agree with you. Abolish the Fed and FRN's. Repudiate all debt held by the Fed. That'd wipe out about $4 trillion in Treasury debt. Get back to a currency backed by hard assets. The federal govt. got along fine without an incoome tax until the Fed came along. Abolish the income tax along with the Fed. Of course a lot of the social programs and global militarism would have to go away as well. Fine with me. Cancel all that crap. Turn the bums out of Washington, and turn this country back to the people. Would there be "bumps and pains" with dismantling all this? Absolutely. But we got some way more serious pain on the way anyway because of what the Fed has done since it's creation. I'll shut up now. Cary Here's the links to the "Whence & Pence" series: Part One - The Founding [url=http://www.financialsense.com/fsu/editorials/gnazzo/2005/part1.html]http://www.financialsense.com/fsu/editoria...2005/part1.html[/url] Part Two - The Confounding [url=http://www.financialsense.com/fsu/editorials/gnazzo/2005/part2.html]http://www.financialsense.com/fsu/editoria...2005/part2.html[/url] Part Three - The Sounding [url=http://www.financialsense.com/fsu/editorials/gnazzo/2005/part3.html]http://www.financialsense.com/fsu/editoria...2005/part3.html[/url] Part Four - The Resounding [url=http://www.financialsense.com/fsu/editorials/gnazzo/2005/part4.html]http://www.financialsense.com/fsu/editoria...2005/part4.html[/url] Part Five - The Pounding [url=http://www.financialsense.com/fsu/editorials/gnazzo/2005/part5.html]http://www.financialsense.com/fsu/editoria...2005/part5.html[/url] Part Six - The Hounding [url=http://www.financialsense.com/fsu/editorials/gnazzo/2005/part6.html]http://www.financialsense.com/fsu/editoria...2005/part6.html[/url] Part Seven - The Rounding [url=http://www.financialsense.com/fsu/editorials/gnazzo/2005/part7.html]http://www.financialsense.com/fsu/editoria...2005/part7.html[/url] This is the one with the info you were asking me about Zoomerz about the "square mile" or financial district in the middle of London. Part Eight - The Grounding [url=http://www.financialsense.com/fsu/editorials/gnazzo/2005/part8.html]http://www.financialsense.com/fsu/editoria...2005/part8.html[/url] Part Nine - The Wounding [url=http://www.financialsense.com/fsu/editorials/gnazzo/2005/part9.html]http://www.financialsense.com/fsu/editoria...2005/part9.html[/url] Part Ten - The Unwounding [url=http://www.financialsense.com/fsu/editorials/gnazzo/2005/part10.html]http://www.financialsense.com/fsu/editoria...005/part10.html[/url] There's a lot there, with links as well. You might want to print or save them on your computer so you can read them over time. Wouldn't you know it. I get to the end of the post and find a page with links to all of the above, along with the author's series on Honesty Money. LOL My dumbass. Here's the link to all of these articles and then some. [url=http://www.financialsense.com/fsu/editorials/gnazzo/archive.html]http://www.financialsense.com/fsu/editoria...zo/archive.html[/url] [/QUOTE]
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