PRIVATE FEDERAL RESERVE AND GOVERNMENT: FASCISM DEFINED
By Grant Hall
Irresponsible Monetary Policy
Monetary policy will create a stable currency or cause money to lose value. Without sound, responsible money supply controls in place, an oversupply of dollars issued in paper or digital entries causes the same result—currency devaluation.
Elected representatives have the responsibility of making certain that dollar values remain constant, through oversight and monitoring of Federal Reserve monetary policy.
Dollars printed or issued only when there is “value” behind the currency assures dollar price stability, as measured against competitive foreign currencies and the costs of goods and services.
Responsible borrowing occurs only when a debt repayment plan has been structured and available cash flow is available to service the loan. A plan to liquidate assets to pay debt can serve as a back-up plan if cash flow (recession or depression for government; earnings reduction by businesses) decreases.
These fiscal and solvency rules are the same when applied to private entities or sovereign nations.
Why do government officials not insist on sound fiscal policies and make certain your currency is strong rather than creating money from debt? Why do government officials follow a perpetual tax-and-spend scheme designed to destroy wealth over time? Do they benefit from your loss of purchasing power by gaining wealth from newly created dollars without assets backing this money?
Huge Tax Increases and the Great “Inflation” Lie
People want their dollars’ value preserved, and a “hard currency” will prevent savings from eroding when retirement funds must provide the means for living expenses.
The same value, supply, demand, and stability rules apply to any means of exchange, whether that “currency” is buckskins, gold and silver coins, wheat, beans, ivory, or U.S. dollars. Flood the marketplace with an over-abundance of any commodity, and the increased supply and lack of scarcity drives down the value.
The devaluation of the dollar becomes the most expensive “tax” of all taxes. Reduced purchasing power of dollars earned and saved produces hidden consumption taxes on all dollars spent, thereby reducing wealth and middle class living standards.
Inflation is a falsehood—a lie created by those who want the public to believe the loss of their dollars’ value over time is a normal market phenomenon. Indeed, the public has been deceived into believing the great inflation lie—arguably the greatest lie ever told—and created by the privately owned Federal Reserve System.
While the current money system is less than a hundred years old, few people understand how money is created. Today, paper dollars are issued not as receipts for assets on a one-to-one ratio—as was the original method of early “bankers” known as goldsmiths who stored gold for customers—but through the whims and desires of relatives and agents of controlling families who own the central bank of the United States of America—a private corporation known as the Federal Reserve System.
Private Federal Reserve Controls Money
The Federal Reserve is a privately owned banking cartel (Griffin, 2002) and is no more a federal government entity than is Federal Express.
Purposely called the “Federal Reserve System” rather than a bank-related name, (Mullins, 1983) the Fed is a mysterious private corporation whose true controllers remain a secret.
Bankers and Business People Do Not Understand the Federal Reserve System
Most bankers cannot define the Federal Reserve (Hall, 2006) and do not understand the source of their money credits. (Grant Hall is the author of Privacy Crisis: Identity Theft Prevention Plan and Guide to Anonymous Living, and articles on business and privacy matters.)
Many business executives seemingly do not understand that monetary policy is dictated by a private banking group rather than the Federal Government.
Chairman and founder of Investor’s Business Daily, William J. O’Neil, wrote the following concerning “the Fed”:
“The bear market and the costly protracted recession that began in 1981, for example, were created solely because the Fed increased the discount rate in rapid succession on September 26, November 17, and December 5, 1980. Its fourth increase, on May 8, 1981, thrust the discount rate to an all-time high of 14%. That finished off the U.S. economy, our basic industries, and the stock market.”
“Such actions and their result starkly demonstrate how much our federal government, not Wall Street or business, may at times influence our economic future.”(O’Neil, p.72)
Does Mr. O’Neil—whose firm, William O’Neil + Company, owns New York Stock Exchange seats and advises institutional money managers—not know the Federal Reserve is a private corporation?
Public Ignorance of Federal Reserve
If many business leaders and bankers do not understand the Federal Reserve System, it goes without saying that most of the public remains ignorant about the true source of money. This deception is by design from the originators of the Fed, as it was a secret created to empower a few to gain control of the money (Mullins, 1983).
The Federal Reserve System was created secretly on Jekyll Island, Georgia, in 1910 by agents of international bankers (Mullins, 1983, publisher’s note 1.)
The Federal Reserve functions as the central bank of the United States of America and is under contract with the United States Treasury to set monetary policy as per the Federal Reserve Act of 1913 (Mullins, 1983, p. 29).
Elected Officials and the Fed
Why do elected officials bow and cow to the Fed? Is it not their job as your servants to provide oversight and assure your currency remains a stable store of value?
By certain polls, Congress recently had a low double digit approval rating of about 14 percent, and virtually no one—not even one in ten citizens—wanted the recent “bailout” to occur. But the now-departed Secretary of the Treasury, Henry Paulson, and the Federal Reserve have begun the biggest heist in the history of the world by literally printing money out of thin air, issued by the Federal Reserve.
Taxpayers will be raped for generations to come. The bailout scheme was purposely created without oversight or possibility of prosecution, in the event
powers were abused by the Secretary of the Treasury, Henry Paulson, and his crew. And elected officials went along with it. They carried out this robbery of your future purchasing power against your will.
Fascism is the partnership of government and private corporations to create a ruler over the mass population known as a dictatorship. Is the current “partnership” between the Federal Reserve System and the U.S. Government a dictatorship in the purest form?
Griffin, G. Edward, The Creature From Jekyll Island, American Media, Fourth Edition, 2002.
Hall, Grant, Federal Reserve Bank Kills U.S. Dollar, James Clark King, LLC, March 27, 2008, www.PrivacyCrisis.com.
Hall, Grant, Identity Theft Prevention Plan and Guide to Anonymous Living, James Clark King, LLC, 2006 www.PrivacyCrisis.com.
Mullins, Eustace,The Secrets of the Federal Reserve, Bankers Research Institute, First Edition, 1983.
O’Neil, William, J., How to Make Money in Stocks: A Winning System in Good Times or Bad, McGraw-Hill, 2002.
Copyright © James Clark King, LLC, April 19, 2009