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Selected Editorials from the Editor

Suns & Shields Christian Inspirational Writings by Rachelle Hamlin

Selected editorials from Dr. Katherine Albrecht, Ed. D.




Federal Reserve Has Failed Miserably


Congress Expected to Approve Borrowing More Money from Corrupt, Private Central Bank


By:  David Deschesne

Fort Fairfield Journal, October 28, 2015


   Originally formed by a covert group of bankers in collusion with a select few members of Congress in 1913, the Federal Reserve was promoted as an organization that was going to bring stability to the U.S. monetary system and prevent the “boom/bust” cycles experienced in the latter half of the 19th century.

   However, since its inception the Federal Reserve has failed at its stated mission by creating one boom/bust cycle after another.  Starting with the run-up of the money supply in the 1920s, followed by the Great Depression of the 1930s when the money supply was artificially contracted, the Federal Reserve has been pumping new money into the economy via the mechanism of debt, then pulling that money, plus interest, out of circulation on debt discharges thus creating a cycle of prosperity and recessions ever since.

   Despite its official sounding name, the Federal Reserve is not a branch of the U.S. government.  The group of private bankers and industrialists who conceived the idea of a private central bank, at the Jekyll Island resort off the coast of Georgia, concluded it would be easiest to market their program if it had a name that sounded like it was a branch of the U.S. government.  The Federal Reserve is no more “federal” than Federal Express or Federal Ammunition.  It is a private banking system, unaccountable to U.S. law, whose branches pay property taxes in the cities they exist in.  The Federal Reserve is also listed in the phone book under the “business” section, not under “U.S. Government.”

   The Federal Reserve was empowered by Congress to artificially create money out of thin air and loan it into existence at an average ratio of 9:1 over currently held deposits.  

Under this fractional reserve banking system, all Federal Reserve notes in existence today in all cash drawers, savings accounts, checking accounts and even personal piggy banks and coffee cans are bits and pieces of other peoples’ borrowed money.  This borrowed money is all owed back to the Federal Reserve, with interest.  Since the banks only loaned the principle into circulation—not the interest to pay the loan—the interest must be paid at a later date with still more borrowed money.  Hence, the Federal Reserve has set up a ponzi scheme money lending system that is mathematically impossible to ever pay off; similar to paying off an old credit card with a new credit card.

   It is under this ponzi scheme that the U.S. Congress borrows money to fund its daily operations, all its wars, and all welfare and benefits programs since 1933 when the U.S. government quietly declared bankruptcy and replaced the gold that was once our nation’s money with paper, debt-based Federal Reserve Notes.

   The national debt accrued by the U.S. government over the decades has amassed to an astounding $18 trillion.  In February of this year, the Congress reached a self-imposed debt limit of $18.1 trillion and over the summer new borrowing of money has not been authorized.  As Congress convenes this Fall, however, there is expected to be much posturing for the media, political grand-standing and an ultimate vote to approve an arbitrary increase in the debt limit once again in order to allow the Congress to borrow even more money to fund the country’s affairs.

   This borrowed money is owed back to the private, for profit central bank called the Federal Reserve, as well as various corporations, mutual funds and countries who purchase the Treasury Department’s bonds.  Based in Federal Reserve Note debt dollars, this debt is impossible to repay and unfortunately is guaranteed by the “Full Faith and Credit” of the American people.  Translated, the debt is guaranteed by all of the personal and business property in the U.S., all natural resources and all future labor of the U.S. citizenry.  In other words, Congress has pledged its constituents as debt slaves to the private bank that continues to create debt money from nothing.








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