Monday, September 23, 2013

The Federal Reserve, the Assassination of John F Kennedy and the Impeachment of Bill Clinton

The U.S. Congress who are funded by Wall Street Banks are now using the Debt Ceiling to place primacy of Treasury debt owed to Wall Street Banks and the Federal Reserve over Treasury debt owed to the American People.  Our Treasury Bonds should have primacy over Treasury Bonds owned by crooked Wall Street Banks.

When congress says the Social Security funds are a bunch of IOU’s, well so are the funds owed China, Japan and Wall Street, but congress doesn’t tell China to pound sand.

The debt ceiling is nothing new; it was statutorily imposed and has been in effect since 1917. Before 1917 there was no debt ceiling in force. Isn’t that odd, that there would be a ceiling on the U.S. Treasury borrowing after the 1913 establishment of the Federal Reserve Bank?

The United States has held public debt since the U.S. Constitution legally went into effect on March 4, 1789.  From 1796 to 1811 there were 14 budget surpluses and 2 deficits.  There was a sharp increase in the debt as a result of the War of 1812.  In the 20 years following that war there were 18 surpluses. 

The federal government actually paid off its debt entirely in January 1835 only to begin accruing debt anew by 1836 when the debt was $37,000.  Another sharp increase in the debt occurred as a result of the Civil War. The debt was $65 million in 1860, but passed $1 billion in 1863 and reached $2.7 billion by the end of the war.  During the following 47 years prior to the Federal Reserve, there were 36 surpluses and 11 deficits. During this period 55% of the national debt was paid off.

Secret meetings to develop the Federal Reserve Bank began in November 1910.  A meeting of a handful of rich political bankers met at a private resort on Jekyll Island, Georgia and secretly drew up a framework for the nation’s new banking system owned by extremely wealthy European banking families.  While the Fed would handle government debt, it would be a private institution. The U.S. Treasury would have a seat on the board, but would exercise no further oversight.

The Federal Reserve would be privately owned by a for-profit corporation, with no reserves and would pay no taxes on the trillions of dollars it would make.

According to WordPress.Com:
The Federal Reserve was chartered by an act of deceit, by an act of congress when most of congress had gone home for Christmas holiday on December 23rd 1913. The Federal Reserve Act of 1913 passed the house, but was having difficulty getting through the senate.
No recess had been called, most senators had gone home, yet three senators passed the act with a unanimous voice vote. There was no objection. If there had been one person present in the absence of a quorum, the bill would not have been passed.
In 1923, Representative Charles A. Lindbergh, a Republican from Minnesota, and father of the famous aviator Lucky Lindberg stated. “The financial system has been turned over to the Federal Reserve Board. That board administers the finance system by authority of a purely profiteering group. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money.
Former chairman of the House Banking and Currency Committee, during the great depression era, Louis T. McFadden in 1932 stated, “We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our Government. It has done this through the corrupt practices of the moneyed vultures who control it.”

Even Ben Bernanke admitted, it was none other than the Federal Reserve that caused the Great Depression and the horrific suffering, deprivation and dislocation America and the world experienced in its wake.

According to Rense.Com:

On June 4, 1963, a little known attempt was made to strip the Federal Reserve Bank of its power to loan money to the government at interest. On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the U.S. government the power to issue currency, without going through the Federal Reserve.

Mr. Kennedy's order gave the Treasury the power "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This meant that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation. In all, Kennedy brought nearly $4.3 billion in U.S. notes into circulation. The ramifications of this bill are enormous.

With the stroke of a pen, Mr. Kennedy was on his way to putting the Federal Reserve Bank of New York out of business. If enough of these silver certificates were to come into circulation they would have eliminated the demand for Federal Reserve notes. This is because the silver certificates are backed by silver and the Federal Reserve notes are not backed by anything.

After Mr. Kennedy was assassinated just five months later, no more silver certificates were issued. The Executive Order was never repealed by any U.S. President through an Executive Order and is still valid.

In 1993, President Clinton and Vice President Gore launched their economic strategy: (1) establishing fiscal discipline, eliminating the budget deficit, keeping interest rates low, and spurring private-sector investment; (2) investing in people through education, training, science, and research; and (3) opening foreign markets so American workers can compete abroad. After eight years, the results of President Clinton’s economic leadership are clear. Record budget deficits have become record surpluses, 22 million new jobs have been created, unemployment and core inflation are at their lowest levels in more than 30 years, and America is in the midst of the longest economic expansion in our history.

Yes, in 1992 after 12 years of Republican rule, 10 million Americans were unemployed, the country faced record deficits, and poverty and welfare rolls were growing. Family incomes were losing ground to inflation and jobs were being created at the slowest rate since the Great Depression.

I remember it well.  The Republicans hated Clinton and did everything possible to impeach him.  They pushed for war against Iraq, they ginned up the “Moral Majority”, they voted against tax increases.  Bill Clinton passed a balanced budget without one Republican vote. 

Alan Greenspan at the Fed did everything possible to slow down the economy but the Clinton boom went on.  More Americans became stock holders, more Americans had 401K’s, retirement funds, more college graduates, more everything good and everything American.  The Federal Reserve became an insignificant background noise.  Clinton was impeached but the American people wouldn’t stand for his removal.

US public debt consists of two components:
Debt held by the public includes Treasury securities held by investors outside the federal government, including that held by individuals, corporations, the FEDERAL RESERVE SYSTEM and foreign, state and local governments.

Debt held by government accounts or intra-governmental debt includes non-marketable Treasury securities held in accounts administered by the federal government that are owed to program beneficiaries, such as the Social Security Trust Fund. Debt held by government accounts represents the cumulative surpluses, including interest earnings, of these accounts that have been invested in Treasury securities.

Did you get that?  Debt held by government accounts that are owed to program beneficiaries, such as Social Security Trust Fund.  Monies owed to the Social Security Program have equal parity with those monies owed to China, foreigners and the Federal Reserve.

That is to say, that the government debt that is owed to Social Security Trust Fund are surplus funds that were invested in Treasury Securities that is owed to the American people plus interest on those securities.  The Debt owed to the American people MUST have priority over Wall Street Banks and the Federal Reserve.

The Federal Reserve is responsible for printing up over $43 trillion dollars to bail out banks.  Their 100 year charter ends in December 2013.  Americans have lost their homes, their jobs, public education, cities are bankrupt, and we are in the worst depression since the great depression.

 Time to end the Federal Reserve and take America back.  Wall Street bankers cared less about bankrupting the country, their bonuses were insured by the Federal Reserve. Let them take the hit this time. The banks are criminal enterprises and need to be cut loose.  End the Fed.

By Patricia Baeten

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