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The Federal Reserve Banking System Means the Elite Banking Cabal Who Owns the Fed Continues to Fill Their Wallets While the American Taxpayer Suffers.

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The Federal Reserve banking system came into effect in 1913 with the passage of the Federal Reserve Act signed by President Woodrow Wilson.

This marked the handing over of the control of U.S. monetary policy into the hands of private capital.

Rockefeller, Rothschild and J.P Morgan were among the families of unparalleled wealth that, together with Senator Nelson Aldrich (who would himself marry into the Rockefeller family), crafted this diabolical scheme that only 100 years later is taken for granted as a fact of life.

This monetary system runs directly contrary to the Constitution of the United States and the intentions of the Founding Fathers.

It has been speculated that since the Civil War, the usurers had attempted to get control of the U.S. Government.

Abraham Lincoln, then president, rejected borrowing funds at high interest rates from private lenders in order to arm the Union forces.

He preferred to print his own money to do so. His anti-finance attitude (Lincoln was no friend to bankers) has led to speculation that he was assassinated precisely over this issue.

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The Fed is a Private Bank

The fact of the matter is, the Federal Reserve Banking System is private.

The Federal Reserve Act of 1913 gave this corporation the sole power to print our money.

Since that time, the elite banking families have had control of the United States of America.

Its Board of Governors is appointed by the president with Senate confirmation.

But these top bankers are not accountable to the chief executive, though the certainly maintain communication, particularly with the Treasury Department.

It is basically a wholly independent institution subject to minimal Congressional oversight.

The Fed does not even submit a budget request to Congress but rather funds itself from the interest it collects on lending to its top client, the government of the United States of America (interest stolen from taxpayers).

The Fed claims that any interest goes back to the U.S. Treasury, although the act passed in 1913 to create the Fed stipulates that “most” of the interest is to be returned to the Treasury.

Since the Fed has never been audited we have no way of knowing what they’ve actually been doing with their massive profits.

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Fox Guards the Henhouse

The power of the Fed to control interest rates and place money into circulation or withdraw it from circulation is a direct violation of the U.S. Constitution that places this power in Congress.

The Constitution does not allow for Congress to delegate its functions to private institutions.

The bankers who run the Fed do so in the interest of maintaining the healthiest climate for the banks they come from, that they have holdings in and that they will return to after their 14 year stints on the Board of Governors.

Basically, the foxes continue to guard the henhouse.

It was Fed Chairman Alan Greenspan himself, with other top economic gurus, that told the Senate in 2002 to have no worries over the derivatives markets; that these markets were responsible for boosting the economy.

That “boost” has now become the burst bubble of the current economic tailspin.

Derivatives are contracts on commodities, which include mortgages and are used as a tool to spread investment risks.

They are one of the many ways that foreign countries have invested their dollar reserves, hence the global damage being wreaked by the current crisis.

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The Crooks Get Richer

Now the Federal Reserve Banking System will distribute yet more money so the government can bailout the floundering mortgage giants.

With even more money in circulation (which has roughly doubled every 10 years since 1970), the value of the dollar will go down further.

That is to say the value of the salaries of working people will go down while the sky continues to be the limit for the bankers that run the Federal Reserve Banking System and their cohorts on Wall Street.

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