Federal Reserve Banks Kills US Dollar
Privacy Crisis the Book About Protecting Your Identity

FEDERAL RESERVE BANK KILLS U.S. DOLLAR
By Grant Hall

THIRD-WORLD CURRENCY STATUS

New York merchants have been accepting Eurodollars as payment for goods, while providing change for cash
purchases in U.S. dollars.

Currency exchange houses in the Netherlands refused to exchange American tourist dollars for local currency in some
cases recently.

Once viewed as the world’s reserve currency, the dollar has been in a multi-decade, secular bear (down) market since
the Federal Reserve Act of 1913. Rallies and strength have occurred within this period, of course, but as of today, the
U.S. dollar has lost approximately 97 percent of its purchasing power to buy goods and services since the Federal
Reserve system began.

MYSTERY CENTRAL BANK AND BANKERS
Perhaps the least-understood institution in the history of the business world is the money and monetary system of the
United States of America. Indeed, it seems that it’s not only the public that is uninformed on this most important
subject, but also the bankers—mid-level employees, bank managers, and even some in top management—who fail
to understand their own business. I discovered the extent of this professional ignorance while doing research for
PRIVACY CRISIS and once asked ten bankers about the Federal Reserve Bank. Not one could supply an acceptable
definition of the “Fed.”

Now, I pose this question to all informed readers: What kind of monetary system do we have, when neither the
bankers who borrow direct from the central bank understand it, nor the public who uses and depends on the
currency for stability of purchasing power and investment and savings?

THE “SECRET” FEDERAL RESERVE SYSTEM
When bankers know not the source of their funds, do not understand their own “union,” and have never researched
the history of the United States Banking system enough even to explain its basis to a non-banker, then the system
of banking—the foundation of the industry—appears to have been built with a shaky foundation of “yes men,” not
business men and women capable of more than being dictated to by their masters—the cartel they serve.
And indeed it is a cartel. The Federal Reserve system was conceived in secret on Jekyll Island, off the coast of
Georgia, by private money men. Seven men participated in the planning of the Federal Reserve system prior to
the passing of the Federal Reserve Act in 1913. These men were: Nelson W. Aldrich, Chairman of the National
Monetary Commission and father-in-law to John D. Rockefeller, Jr.; Henry P. Davison, Sr., Partner of J. P. Morgan
Company; Charles D. Norton, President of 1st National Bank of New York; A. Piatt Andrew, Assistant Secretary
of the Treasury; Frank A. Vanderlip, President of the National City Bank of New York, representing William
Rockefeller; Benjamin Strong, head of J.P. Morgan’s Bankers Trust Company, later to become head of the system;
and Paul M. Warburg, a partner in Kuhn, Loeb & Company, representing the Rothchilds and Warburgs in Europe.2

UNSOUND MONETARY POLICY
Of all the poor decision makers the cartel has had, their current chairman, Benjamin Bernanke, has to take the prize
for “MOST INCOMPETENT.” First, this man fails to understand the Federal Reserve’s role and responsibility to act
as a fiduciary for the American public. That’s correct. The Federal Reserve Bank has a responsibility to act on behalf
of the American people. Breaching this responsibility—as they have clearly done—is grounds for the abolishment of
the entire system.

However, with virtually no American managerial-level bankers understanding the system and with the American public
totally unaware of how their money is created, and by whom, no clear way is evident as to how such a measure to
abolish the system would ever make it onto any ballot. And, we’ve seen how ineffective the elected representatives
are at doing anything about the blatant abuse of power that’s been occurring at the expense (devaluation of the
currency) of the American people.

Does Ben Bernanke really fail to understand the Fed’s role in setting money policy? Or has he truly given up on the
dollar, or worse, is he orchestrating its collapse?

Regardless of its private cartel structure, the “Fed” had better be acting as fiduciaries to you and me, the citizens
of the country. That’s what they’ve been hired to do—not to destroy your purchasing power.

On closer assessment, it seems as though the mission of the Federal Reserve Bank is to make the dollar fail. Why
else would they lower interest rates in the face of a dollar in free fall and let the market provide a yield of a mere .6
percent on a 90-day treasury bill? That’s not the way to entice foreign investors into buying U.S. debt securities
and thus strengthen a currency.

FEDERAL RESERVE BANK CONFLICT OF INTEREST
And what about coming to the aid of private securities firms by guaranteeing the capital for a rescue of an
overleveraged, irresponsible management, to the tune of debt of $34 for every dollar of equity, as was the case of
the infamous Bear Stearns that saw its capitalization reduced by 93 percent in the last few weeks?

Saving private businesses. That’s not the role of the central bank. At least it had better not be. Because guess who’s
going to pay the bill eventually? If not through a mandated tax increase, then through a hidden one—devaluation of
your currency—known improperly as “inflation” in “Fed-speak.” And American’s are taught, or rather lied to, and told
it is a normal part of living—to have a loss of purchasing power as time passes.

It’s “normal” all right, when your once-strong U.S. dollar goes into a long-term free-fall brought about—maybe even
planned by—crooks and thieves working not in the interest of an American public but in the interest of painting a
façade of stability just long enough to print more ever-eroding dollars, so as to keep a government gone mad in
the business of their current, irresponsible spending binge.

PUBLIC PERCEPTION OF THE DOLLAR CRISIS
One would think awareness would be developed during such a financial catastrophe. No. Sadly, most of the American
public has little or no knowledge of the devaluation of their currency.

In fact, during a “mini sample study” performed by this writer, seven of ten people—all of voting age and above—did
not know there was a foreign exchange market for currencies. And as expected, ten of ten could not provide a
definition of the Federal Reserve Bank.

With a public so out of touch with their money and monetary system, there’s little hope of a mass outcry to fix the
problem. That is, not until the greenback loses substantially more of its power to buy TVs, beer, and fast food.

TAXATION WITHOUT REPRESENTATION
And, don’t depend on your elected representatives to “represent” you and call the “Fed” on the carpet. There’s
little chance of that. Instead, observe the televised hearings—if you want to call them that. I don’t. These meetings
are nothing more than a circus of politically speaking dunces hell-bent on pleasing the very culprits who’ve caused
the problem for decades, rather than businessmen questioning the executives’ failure to manage a country’s failing
monetary system. Only a very few have an understanding of this American money disaster, and they’re either
ridiculed or not heard or misunderstood by a dumbed-down public and a misinformed business population. Observe
Texas congressman, Ron Paul question Bernanke recently, and find one of the very few of the entire bunch who
understands or cares about the value of a sound currency.

There seem to be few serious measures in the works to hold this band of money manipulators—the Federal Reserve
Bank—accountable for keeping a sound monetary policy in place.

So, without representation and a plan to fix the problem and adopt a strong, responsible monetary system to return
the currency to a trend of strength, you the public are being heavily taxed—without your even realizing it. For
devaluation of your currency, inflation, loss of purchasing power—whatever you choose to call it—is indeed the
most dangerous “tax” of all, and we’ve all suffered from it since the Federal Reserve Bank began in 1913.

REFERENCES

1. Hall, Grant, Privacy Crisis: Identity Theft Prevention Plan and Guide to Anonymous Living, James Clark King, LLC,
2006, pp. 187, 255. Available as an e-book at: www.PrivacyCrisis.com.

2. Griffin, G. Edward, The Creature from Jekyll Island, American Media, Fourth Edition, 2002, p. 24.

Copyright © James Clark King, LLC, March 27, 2008.

 

Links:

Home - Buy Book Now! - Purchase Privacy Crisis E-Book - Purchase Privacy Crisis Hardbound Edition
Privacy Crisis Banking - E-Book Help - Info Series - Radio Programs - Anonymous Banking
Total Banking Secrecy In the USA - Identity Theft - Outsmarting Stalkers - Privacy Living - News
About Privacy Crisis - Privacy Policy - Links - Our Affiliate Program - About the Privacy Crisis Web Site
Frequently Asked Questions - Personalized Privacy Consultations - Articles On Anonymous Living - Contact Us - Blog

Copyright © 2007 - 2011 James Clark King, LLC. All rights reserved.


This material is copyrighted and you do not have permission to copy any portion of our website except what is permitted material for use by our affiliates who sell our books for their marketing purposes.

Web Site Maintenance by: Waves Web Design