|
Can we believe that the actions of
Alan Greenspan and his cronies on the Federal Reserve Bank's Open Market
Committee are influenced by real or imagined fears of inflation or concern for
the country in general? They certainly are not compelled by any altruism
or compassion for their fellow man They are driven by simple
greed. A healthy, growing economy and strong stock market which benefit
the majority of our population necessitate low interest rates. Low interest
rates are bad for bank profits. So Greenspan cranks up interest rates (and bank
profits) in small increments and hopes the resulting impact on home mortgages,
consumer and business credit, prices, salaries, wages and the economy in general
don't cause that economy to collapse too rapidly If the decline
becomes too fast the FED can reduce rates to hopefully smooth things out.
This is a cyclical practice, a yo-yo effect which makes losers of everyone but
the bankers. The bankers, political lackeys and scholastic soothsayers cover
this up by endless talk of economic indicators, trends, formulas and other smoke
screens, but the bankers win and we lose. Think about it - Mr. Greenspan works
for the FED. Not for the people or the government but the Federal Reserve
Bank - which not so incidentally, is neither federal nor has it any
reserves. The Federal Reserve System is a private conglomerate of banks
and bankers and institutional and individual stockholders. Stock which you and I
cannot buy and is not traded on any open market. The simplest
definition of the Federal Reserve System may be as a scheme and device to
control the nation's money supply and thereby loot the national treasury and rob
the people of their wealth. Our national debt is presently 5 trillion plus
dollars and 40 percent of your annual income is confiscated as taxes to pay the
approximate one billion dollar a day interest on that debt. Interest only - the
principle can never be paid off as the debt is ultimately redeemable only with
more borrowed money from the Federal Reserve Bank which is the source of every
dollar (note) in existence. Notes which are not even backed by the FED but
only by the "full faith and credit of the United States," and are actually
worthless. Only monetary reform will bring
economic equity and freedom to the people of this country. Congress must
reassert its Constitutional power to be the sole coiner of money and the
regulator of its value. U. S. Treasury Notes owned by the people, not Federal
Reserve Notes owned by bankers. The federal government must no longer be
irredeemably indebted to private banks and unconstitutional confiscatory taxes
to pay interest on that debt must be abolished. Banks must be restricted to
their rightful status as mere depositories of funds. Unless we become the
masters of our own money we will live at the whim and mercy of those who
are. We are condemned to exist on the losing end of Greenspan's yo-yo
string. Don Terrill
[EMAIL PROTECTED]
|
