Now we Know who owns America!

[Faust100F]

It just keeps getting better and better.  Again . . . I was reading Zero Hedge this morning and there was an article where the FED refused to honor or apply the Trillion Dollar Coin to its Federal Reserve Note debts with the United States. 

If I remember correctly, the FED is a PRIVATE CORPORATION licensed in the UNITED STATES and is the only such private entity that does not pay Federal Income Tax on its earnings.  Of course the FED would not want such a payment to be recognized, since if that happened their compound interest stratagy established in 1913 would evaporate . . . but more important is the fact that American Taxpayers my get an understanding that America could be completely debt free by printing its own money.

It is now nice to know who owns America.  We probably should adopt a new Constitutional Amendment to change the name of the Country to UNITED STATES OF THE FEDERAL RESERVE.  Pass the popcorn and get e another Corona.  Enjoy, John

The Federal Reserve Shows Barack Obama Who The Real Boss Is

 By Michael, on January 13th, 2013 

 

Barack Obama has greatly expanded the powers of the presidency during his time in the White House, but there is one institution that he simply will not mess with.  There is one organization that is considered to be so sacred in Washington D.C. that Obama will not dare utter a single negative word against it.  That organization is the Federal Reserve. 

Even though he has shown that he is unafraid to pick a fight with just about everyone else in Washington, Obama flat out refuses to criticize the Fed and he even reappointed Ben Bernanke for another term as Fed Chairman even though Bernanke has a track record of failurethat would make the Chicago Cubs look good.  Perhaps Obama is aware of what has happened to other presidents that have chosen to tangle with the Fed. 

In any event, it has become clear that Obama submits to anything that the Fed says without question, and the controversy over the "trillion dollar coin" is another perfect example of this.  For weeks, there has been much speculation in the mainstream media about the possibility that the Obama administration may print up a one trillion dollar coin that it would use to keep paying the bills of the federal government if an agreement to raise the debt ceiling is not reached. 

But on Saturday the Federal Reserve killed that idea, and we shouldn't be surprised by that because under no circumstances will the Fed ever accept a threat to their monopoly over money creation in the United States.  If the Federal Reserve had allowed Obama to print up a debt-free trillion dollar coin, that would have set a very dangerous precedent for the Fed. 

The American people would have realized that the federal government can actually create debt-free money whenever it wants and that it does not actually have to borrow money from anyone.  That is something that the Fed probably would have moved heaven and earth to keep from happening. 

But now we won't ever know how far the Fed would really be willing to go to keep their monopoly over money creation, because Obama has no plans to challenge this latest ruling from "the real boss" of our financial system.

Sadly, most Americans don't even realize that a private banking cartel has a monopoly over all money creation in this country.  In recent years they have abused this power by wildly printing money ("quantitative easing"), and by making more than 16 trillion dollars in secret loans to their friends during the last financial crisis.  Under our system, the private Federal Reserve creates money whenever they want, and nobody else gets to create money. 

It is an insane system, but very, very few of our politicians will ever dare to question it.

At this point, the U.S. Treasury Department is essentially just an arm of the Federal Reserve.  That is why it was no surprise that the Fed and the Treasury Department issued a joint statement on Saturday. 

According to Treasury spokesman Anthony Coley, both the Treasury and the Fed have come to the conclusion that under no circumstances should a trillion dollar coin be printed up by the Obama administration...

"Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit"

But of course it was actually the Federal Reserve which made this decision.  The following is from a report posted by Zeke Miller ofBuzzfeed.com...

The Federal Reserve was responsible for killing a controversial proposal to circumvent the debt limit, a senior administration official told BuzzFeed Sunday.

On Saturday the Treasury Department released a statement ruling out the only remaining alternative to Congress raising the nation's borrowing limit, which would utilize a loophole in federal law to mint a $1 trillion coin to be deposited in the Federal Reserve and ensure the federal government could pay all bills and debt obligations.

According to that Buzzfeed article, the Federal Reserve would have actually refused to recognize the trillion dollar coin if the Obama administration had tried to deposit it with the Fed...

But it was the Federal Reserve that killed the proposal, the official told BuzzFeed, denying a purely political rationale for the announcement, saying the independent central bank would not have credited the Treasury's accounts for the vast sum for depositing the coin.

Wow.

So there you go.

The real boss has told Barack Obama how it is going to be, and Obama plans to meekly comply.

So why is the Federal Reserve so adamant about maintaining their monopoly over money creation?

Well, it is all about compound interest.  Albert Einstein once madethe following statement about compound interest...

"Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it."

When the Federal Reserve system was initially created back in 1913, the bankers that created it intended for it to be a perpetual debt machine that would extract massive amounts of wealth from the U.S. government (and ultimately from all of us) through the mechanism of compound interest. 

Each year, hundreds of billions of dollars of interest are transferred into the pockets of the wealthy bankers and foreign nations that own our debt.  This is one of the reasons why I preach about the evils of government debt until I am blue in the face.  The debt-based Federal Reserve system is a way to systematically steal the wealth of the United States, and it is happening right in front of our eyes, but very few people actually understand it well enough to complain about it.

Unfortunately, we are rapidly getting to the point where we have accumulated so much debt that it is threatening to collapse our entire financial system. 

[bruce MN]

I put this up at Ag Forum, but since you bring it up:

http://heteconomist.com/what-we-in-the-1-percent-dont-want-the-99-percent-to-know/#more-6890

"Fortunately, our president is on the same side as the Treasury, Fed, and GOP on this issue".

"

[k-289]

China hopes this fiasco of clamoring about  our debt subsides a bit and the  EU doesn't --- also where do people the the "Yuan" comes from-out of a private mine or  vault ---