Posts Tagged ‘reserve’

AMERICA was a NATION of LAW!

May 27, 2009

The professional, political parasites in every department of government in Washington, D.C. have been shredding our Constitution, Bill of Rights and our Declaration of Independence since 1913 when President Woodrow Wilson approved a cartel of the world’s wealthest men to establish the Federal Reserve Bank.

The Federal Reserve System was created by the Federal Reserve Act of 1913 which “established a new central bank designed to add both flexibility and strength to the nation’s financial system.” The legislation provided for a system that included a number of regional Federal Reserve Banks and a seven-member governing board.

All national banks were required to join the system and other banks could join. The Federal Reserve Banks opened for business in November 1914.

Congress created Federal Reserve notes to provide the nation with an elastic supply of currency. The notes were to be issued to Federal Reserve Banks for subsequent transmittal to banking institutions in accordance with the needs of the public.

This infamous decision, in essence, gave these men control of the United State’s currency which stripped congress of control of the nation’s purse strings and allowed the Federal Reserve Bank to print any amount of money by the Bureau of Engraving that was desired.

The Federal Reserve Bank loaned the money to banks with interest.  The banks in turned loaned the money to consumers with interest.  Each time a loan transaction was completed the Federal Reserve Bank earned more money from the money printed and owned by the Federal Reserve Bank.

Obama is not concerned about deficits or the amount of debt he has created for our country.  Obama, Beranke and Geithner are merely following the dictates of the OWNERS of the FEDERAL RESERVE BANKS!  “WE the PEOPLE…” are the collateral.