House of Representatives - HR 459:
Senate - S 202:
The Federal Reserve System is our nations third central bank. President's Thomas Jefferson and Andrew Jackson terminated the previous two because they understood the financial destruction that money manipulators leave upon the people.
The Fed has three damaging policies. It causes inflation, uses fractional reserve banking, and manipulates interest rates.
What is inflation? Inflation is the printing of money out of thin air to have more of it and then have it enter into circulation. This causes the value of each dollar already in circulation to go down (supply and demand) and is called debasing the currency. Since the dollar is then worth less, we the people can afford less. Hence, the loss of each persons purchasing power and therefore a lower standing of living.
The symptom of devalueing the dollar is that prices rise. This is because the money enters into circulation at the "top of the food chain" - special interests and friends close to politicians and the Fed. By the time this money works its way down into the pocket of the average person, prices have risen. The excuse is, "the cost of doing business". This rise in price is what the consumer has been convinced to believe is inflation and is incorrect. Inflation is actually a hidden tax that we pay for with the loss of our purchasing power.
Fractional reserve banking is when a deposit is transacted with the bank, 90% of that amount can get lent out as loans. This leaves only 10% (reserves) left in the bank of that deposit. Since this 90% takes place with each deposit at every bank, the largest pyramid or ponzi scheme in the world takes place. This can go on infinitely and exponentially. If everyone went to their banks at the same time to withdraw their money, all the deposited money isn't there, and you wouldn't receive all of it, if any. The cost of this "policy for progress" is also a lower standing of living for us.
By the Fed artificially setting interest rates, people and business's then make decisions that are based not on sound numbers that the free markets would dictate but on manipulated figures that distort the markets behavior. People make their decisions on this behavior and the results of this are presently being experienced in the housing and financial crisis's.
If the Fed was out of the picture, and the money was backed with a commodity such as gold and silver like it used to be for the prosperous years of our nations history, there would not be manufactured inflation, recessions, depressions, and debt monitization. This is because a commodity based currency is a tangible resource, a good, and has value, unlike a fiat currency (paper money printed out of thin air with no commodity backing) that is only worth the price to print it and has no value on its own. Paper has value only as a medium of exchange because we believe it to be so. A commodity based currency puts the power of currency with the people not in the hands of the few.
Unknowing to most Americans is the fact that the Federal Reserve has caused more damage to the averae person and this nation than any other entity, or enemy. It is a corporation owned by private individuals and has a hybrid relationship with government. They are secretive. They are not transparent. The U. S. Constitution does not allow printed money that is not backed by gold and silver - fiat currency.
Please reserach all the information you can on the Federal Reserve including what is located on this page, in the Video / Read Categories, and Headlines sections.
Put as much time as you can into spreading the word about the Fed, and the bills HR 1207 and S 604 that need to be passed to Audit the Fed. This is how we can start to regain control of our nation, by exposing the Federal Reserve.
Join fellow Patriots in having the heart of America's financial disease cut open.
Go to www.AuditTheFed.com to learn more and get involved.
