image credit: my own...Amelia
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning"....Henry Ford, 1922
Dear Steemit folks...I have been wondering if folks around the USA (and world even) understand the current banking and monetary system. So many folks are overwhelmed with their lives that few have time to delve into it all. I promise...it's simple...shocking and frustrating, but simple! Really!
Do you know that the FEDERAL RESERVE is not Federal?! It is not part of our government. It is a PRIVATE CORPORATION. Yep. Well, I do hate to be the bearer of terrible news, but we have all been conned. The Fed (short for Federal Reserve) is privately owned. Who are they? I don't know. We can only guess as that is not required to be public information. Didn't you think the government prints all the money/currency? Well, the US Mint does the actual printing, however the Fed is is their CUSTOMER, so the Fed is responsible for all the money/currency being printed....(to be accurate...they print currency...money is a totally separate thing...more on that in future post)
When the US government decides they need more currency/paper "money", they create US bonds...they just print them...no locked vault...no guards....no backing...no protection...they just take some paper and add some ink and voila...it's a US bond. THEN, they sell them to the Fed. The Fed orders the printing of the US dollars (from the US Mint). What is backing all of this? Nothing really. One could say it's the POWER of the government and then I would have to get into the real reason the US creates chaos, but I think I'll save that for another day. This is already jaw-dropping enough...especially if it's the first time you are hearing about this.
Many still believe our US dollar is backed by gold, but Nixon took us off that standard in 1971. Take a ONE DOLLAR bill out of your wallet...right now...see...it says FEDERAL RESERVE NOTE. It is DEBT. The US government owes the Fed interest on ALL THE MONEY that is printed. Why doesn't our Congress just abide by the Constitution (Article 1, Section 10) and print our own money/currency without paying interest to anyone? That you will have to ask your elected REPRESENTATIVES. When currency isn't backed by gold or silver or salt or whatever...then it is called a FIAT CURRENCY. So far the US dollar has lasted longer than any other FIAT currency in history, and yes, every single FIAT currency (hundreds of them) has failed. This system doesn't work. Never has and never will. This system enslaves its population. Think about your own home and budget...it's not any different. If you dig yourself into a hole...stop digging.
Is time almost up for the US dollar? Something to ponder.
"If our nation can issue a dollar bond, it can issue a dollar bill. Both are promises to pay, but one promise fattens the usurers and the other helps the people." ... Thomas Edison, NY Times, Dec 6, 1921