what is the federal reserve?

last SG · 2008-11-13T20:47:38+00:00

Please dont mix whatever SPLIT SECOND said with my previous post, for which I've substantiated.SPLIT SECOND, as a favour, stop unleashing emotional and seem...

SPLIT SECOND SG

http://taxes.suite101.com/article.cfm/what_is_the_federal_reserve

What Is The Federal Reserve?
A History of The US Central Banking System

© Rebecca Turner

Jan 28, 2008

What is the Federal Reserve? It's a privately-owned organization that controls America's money supply.

What The Federal Reserve Does

As the central bank of the United States, the Federal Reserve has three key functions which revolve around managing the money supply:
To adjust base interest rates
To print and release new bank notes
To remove existing notes from circulation

By controlling the amount of money in circulation, the Federal Reserve can make US currency either more or less valuable, thereby influencing the country’s economy on a multitude of levels.
How The Federal Reserve Was Founded

In 1907, rumours emerged that caused the latest of a string of large-scale bank runs. Fears of an economic depression shattered the confidence of the American people, who soon called for bank reforms.

A group of wealthy businessmen – led by J P Morgan, Paul Warburg and John D Rockefeller – intervened to pave the way for the establishment of a private central bank. With their connections, they soon put a banker-controlled plan to President Woodrow Wilson.

In a decision that would later come to haunt him, President Wilson signed the Federal Reserve Act into law. In doing so, he effectively placed control of the US economy squarely in the hands of the private bankers, who would go on to create massive amounts of credit – backed by absolutely nothing.

They did this by printing new bank notes and lending them with added interest to the Government for redistribution. This means that every single dollar in circulation has a debt attached, payable to the creators of the Federal Reserve. Today the national debt is over $9.2 trillion.

In 1919, President Wilson expressed his profound regret over his decision, stating:

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men.” ¹
The Federal Income Tax

In order to obtain repayments on this debt system, Morgan and his crew created a Federal Income Tax. This new tax was unconstitutional, because it was not apportioned (ie, equal for every person) and in fact was fraudulently passed in Congress.

This means that there is no law in place that dictates the average American working for a private business must pay Income Tax. This was even cited in a recent court case:

“If you… examined [The 16th Amendment] carefully, you would find that a sufficient number of states never ratified that amendment.” ²

US District Court Judge, James C Fox, 2003

In fact, in 1985, President Ronald Reagan created the Grace Commission to investigate where Income Tax money was spent by the Government each year. It found that 100% was absorbed by interest on Federal debt.³

That means that not a single penny collected from Federal Income Tax is spent on services provided by the Government. Such services have always arisen from other direct taxes, such as gasoline tax which pays for new roads.³

In the fiscal 2005 year, the Federal Income Tax on Americans’ labour came to $927.2 billion.³ That is more than three times the legal Corporate Income Tax collected that same year.

Today, as reported in the Federal Reserve's annual audit, there are now trillions of dollars missing – which it describes as “undocumentable adjustments”. Otherwise seen as a way of redistributing the wealth.

The Internal Revenue Service is yet to provide an explanation for the missing law of Federal Income Tax. Some Americans have already stopped paying what appears to be a fraudulent tax – and with rising awareness it is only a matter of time before a formal explanation will be demanded by the people.

Poh Ah Pak SG

Lectures on USA banking system and Federal Reserve can be found on below link:

http://www.ndu.edu/library/ic3/

alwaysdisturbed SG

its equivalant to our MAS. ain't it?

Stevenson101 SG

Pretty much, but from what i can understand is that MAS is managed by the Ministry of Finance which means it's nationalized.

While the Federal Reserve is exclusively owned by private bankers and do not have to answer to any government agencies.

From what i can understand from it though, our taxes and CPF goes under the MAS as government funds then redistributed throughout the government.

But the US government borrows from the Federal Reserve to fund its operations and taxes collected have been mainly used to pay off just the interest on it. Which felt strange to me, since i thought taxes are supposed to fund the government, why would there be a system that allows private bankers to decide how much money a country is allowed to print ?

SPLIT SECOND SG

Pretty much, but from what i can understand is that MAS is managed by the Ministry of Finance which means it's nationalized.

While the Federal Reserve is exclusively owned by private bankers and do not have to answer to any government agencies.

From what i can understand from it though, our taxes and CPF goes under the MAS as government funds then redistributed throughout the government.

Exactly, this is where the NEW WORLD ORDER theory originated from.

Farking elites bent on controlling the farking whole world by printing notes

Poh Ah Pak SG

Exactly, this is where the NEW WORLD ORDER theory originated from.

How?

Print money and NWO suddenly mixed?

Print Notes + Elite = NWO ???

How are they connected with each other?

What is NWO in the first place?

???

So many questions...

Poh Ah Pak SG

If we follow logic of

Print money + elite = NWO, then there was a "NWO" during song dynasty.

Paper currency was a by-product of Chinese block-printing. It started in Tang but not until Song dynasty that it became institutionized as a governmental policy. It had two main advantages over money made out of silver, gold, copper or iron: It was easier to carry around and the copper and iron could be saved for use in everyday objects. Names and seals were printed and written on paper money by the government officials who issued it...

...Flying cash" was not meant to be currency and its circulation was rather limited. Real paper currency was not introduced until early in the Song (960-1279) dynasty, when it was utilitzed by a group of rich merchants and financiers in Szechuan, the same province where the art of printing had been invented. Each banknote they issued had printed on it pictures of houses, trees, and people....

http://www.silk-road.com/artl

From this line of reasoning, it is clear that "NWO" began in China.

Poh Ah Pak SG

Yes, it is true.

I found evidence of New World Order in China, according to this source:

Establishment of New Order

In the early 1990s, Deng put forward to establish a new, just and reasonable world political and economic order for peace, on the basis of Five Principles of Peaceful Co-existence.

The proposal coincides with his judgment that peace and development are the two main themes of the current world. He noted that to establish such a new world order, all countries should jointly break the old order, oppose hegemonism and any interferences in internal affairs of others, strengthen and expand international economic cooperation based on equality and abandon all discriminatory policies and practices.

The core of a new political order is mutual respect for sovereignty and non-interference in others' internal affairs. The essence of a new economic order is to seek equality and mutual benefits and compliment each other.

To achieve these objectives, all countries should abide by the principles of sovereign equality and non-interference in the internal affairs of others, cooperate with each other to create a secured, stable and peaceful international environment, establish a new model of international relations for common development and foster a climate in which each member of the international community, big or small, can independently choose their development paths and carry out cooperation in harmony through expanding common grounds and setting aside differences...

http://et.china-embassy.org/eng

NWO Mystery solved!

NWO is from China!

We can clearly see the link from song dynasty to Deng Xiao Peng's "new world order".

Ah, so NWO is from China!

ha ha ha.

Poh Ah Pak SG

More evidence of China's New World Order agenda:

China-Russia statement on new world order

http://www2.chinadaily.com.cn/english/doc/2005

They are very bold, China and Russia dare to openly talk about making a New World Order.

Poh Ah Pak SG

George H. W. Bush Sr also have a New World Order agenda:

We stand today at a unique and extraordinary moment. The crisis in the Persian Gulf, as grave as it is, also offers a rare opportunity to move toward an historic period of cooperation.

Out of these troubled times, our fifth objective -- a new world order -- can emerge: a new era -- freer from the threat of terror, stronger in the pursuit of justice, and more secure in the quest for peace. An era in which the nations of the world, East and West, North and South, can prosper and live in harmony.

...Once again, Americans have stepped forward to share a tearful good-bye with their families before leaving for a strange and distant shore. At this very moment, they serve together with Arabs, Europeans, Asians and Africans in defense of principle and the dream of a new world order. That's why they sweat and toil in the sand and the heat and the sun...

http://www.cryan.com/war/speech/

Poh Ah Pak SG

More New World Order:

Caucasus conflict: Bloody cost of the new world order

http://www.socialistworker.co.uk/art.php?id=15753

Poh Ah Pak SG

SPLIT SECOND, you always talk about New World Order, so which NWO is your NWO?

It is China's NWO, Bush's NWO or socialistworker NWO?

grandmaster89 SG

SPLIT SECOND, you always talk about New World Order, so which NWO is your NWO?

It is China's NWO, Bush's NWO or socialistworker NWO?

Singapore's NWO lor.

Poh Ah Pak SG

Lee Kuan Yew on New World Order:

… If there are no mishaps by 2050 the US, China, India and Japan will be economic heavyweights , as will Russia if it converts its revenue from oil and gas into long term value in infrastructure and non-oil industries. India is an intrinsic part of this unfolding new world order. India can no longer be dismissed as a “wounded civilisation”, in the hurtful phrase of a westernised non-resident Indian author (V.S. Naipal)....

http://www.deeshaa.org/2005/12/18/lee

freedomclub SG

Exactly. It defies logic when a government would rather borrow their currency instead of printing it themself. Which brings us to the 1913 coup by international bankers when the Federal Reserve Act was passed in Congress. The concept of a central bank isn't new to the US. The American Revolution in 1776 was attributed to the desire of the colonies to escape the interest-trap of the European Central bankers.

"The refusal of King George III to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators was probably the prime cause of the revolution." -Benjamin Franklin

Since privately-owned central banks are profit-making corporations, they loan governments currency at interest, enslaving the nation. For only the principle is created, while the interest doesn't exist. It doesnt take a genius to figure out that this is absurb.

The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking is conceived in iniquity and born in sin. Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with the flick of a pen they will create enough money to buy it back again. Take this great power away from the bankers and all great fortunes like mine will disappear, and they ought to disappear, for this would be a better and happier world to live in. But if you want to continue the slaves of bankers and pay the cost of your own slavery, let them continue to create money and to control credit.

- Sir Josiah Stamp, Director of the Bank of England (1928-1941)

Anyway, since the early 19th Century, the US has fought to rid themselves of the economic enslavement of central bankers. Presidents Andrew Jackson, Abraham Lincoln and JFK were all assassinated becaush they tried to break free from the control of the money power and allow the US Government to print their own money.

Let's ignore any connection to the NWO conspiracy and just focus on the issue of a private-own central bank issueing the currency of a nation. The founder of the Rothschild dynasty, Meyer Amschel Rothschild said that "Allow me to issue and control the money of a nation, and I care not who writes the laws." After the Federal Reserve was passed, Congressman Charles Lindbergh said:

"This is the strangest, most dangerous advantage ever placed in the hands of a special privilege class by any government that ever existed. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other peoples’ money. They know in advance when to create panics to their advantage. They also know when to stop panics. Inflation and deflation work equally well for them when they control the finance…"

Ultimately, it boils down to control via economic warfare on the working man. For by crashing the American economy, these bankers are able to consolidate their economic power over the US, which allows the corporate control today. In 1913, the Federal Reserve was touted as a way to stabilise the economy. However, just 8 years after its formation, the US economy was plunged into a panic in 1921. Again Lindbergh stood up and exposed the central bankers.

Under the Federal Reserve Act, panics are scientifically created, the present panic [of 1921] is the first scientifically created one, worked out as we figure a mathematical equation. –Charles Lindbergh

I'll just cut to the chase since its getting late. In 1929, the Fed again engineered another crisis, similar to today's one which consolidated power into the hands of a few banks.

"It was a carefully contrived occurrence. International bankers sought to bring about a condition of despair, so that they might emerge the rulers of us all." –Louis McFadden

The Federal Reserve definitely caused the Great Depression by contracting the amount of currency in circulation by one-third from 1929 to 1933.

- Milton Friedman, 1996, Nobel Laureate

Even if we disregard any NWO conspiracies, the Federal Reserve itself is a conspiracy by bankers to enslave the American people by economic warfare.

Poh Ah Pak SG

Even if we disregard any NWO conspiracies, the Federal Reserve itself is a conspiracy by bankers to enslave the American people by economic warfare.

No, this is wrong also, although most anti-FED literature online will push this propaganda.

System was abused yes but original intent was to make it easier to create money so as to bring more capital into the USA economy in order to allow it to expand faster.

freedomclub SG

Perhaps you lack the faculties of inference and deduction. When the Fed creates money, from nothing, it loans it to the US Government at interest. Naturally, the only outcome is debt because the interest amount does not exist; only the principle does. Milton Friedman knew what he was saying when he blamed the Fed for the Great Depression because from 1921-1929, they expanded the money supply by almost 100% then contracted it severely in 1929, fuelling the Great Depression, allowing insider banks (Warburg, Rockefeller and Morgan interests) take over corporations with pennies on the dollar; ergo economic warfare. Are you saying that you know more economics than a Nobel Prize-winning economist? Are you calling him a "crackpot"?

"Whoever controls the volume of money in our country is absolute master of all industry and commerce... and when you realise that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be hold how periods of inflation and depression originate." (emphasis added) -President James Garfield, assassinated for challenging the money powers.

Here's another "crackpot":

"I believe that banking institutions are more dangerous than standing armies... If the American people ever allow private banks to control the issue of their currency, first by inflation and then deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children wake up homeless on the continent their fathers conquered."

None nothing than "crackpot" Thomas Jefferson.

Stevenson101 SG

I hate to agree with PoH Ah Pak here, but i find it extremely difficult for people with so much power and money to actually willingly cooperate with each other, even if it's towards a common goal.

The fact that they have this much power and money makes it hard for me to believe that they would accept anyone as an equal and cooperate in an organised fashion and actually not try to topple each other when they have an opportunity to do so.

SPLIT SECOND SG

George H. W. Bush Sr also have a New World Order agenda:

We stand today at a unique and extraordinary moment. The crisis in the Persian Gulf, as grave as it is, also offers a rare opportunity to move toward an historic period of cooperation.

http://www.cryan.com/war/speech/

dont be a f*cking a$$hole. The so called rosy NWO u are talking above will never materialise due to:

1) As long as the world is dependent on fossil fuel and minerals.Each country has its own territory where such resources are limited are found and is not willing to share with it the rest of the world without gaining something in return

2) Existence of Greedy people who want more of the cake than they deserve. When something is scarce such as Oil, they just want to give it to u for a profit.

3) Inequality among society such as meritocracy

Poh Ah Pak, why dont u just cut the slack and burst your bubble. U are such a complete loser.

SPLIT SECOND SG

this poh ah pak isidiot is just an idot.

The basisi of NW , as i elaborated earlier is founded on power and greed which are universaly existing values .If these are confrimed to be in existence, so is NWO

Coz basically NWO is power and greed. get that clear..