FINAL WARNING: Financial Background
establish wage and price controls. The extra money in circulation
decreases the value of the dollar, and prices go up. Simply put, too
much money in circulation causes inflation, and that is what the
Reserve is doing, purposely printing too much money in order to
destroy the economy. On the other hand, if they would stop printing
money, our economy would collapse.The Reserve is responsible for setting the interest rate that member
banks can borrow from the Reserve, thus controlling the interest rates
of the entire country. So, what it boils down to, is that the Federal
Reserve determines the amount of money needed, which is created by
the International Bankers out of nothing. Besides the face value, they
charge the government 3¢ to produce each bill. The Federal
government pays the Reserve in bonds (which are also printed by the
Reserve), and then pay the bonds off at a high rate of interest. That
interest will very soon become the largest item in the Federal Budget.William McChesney Martin, a member of the Council on Foreign
Relations (CFR), and Chairman of the Federal Reserve (FED) during the
‘New Frontier’ years of the Kennedy Administration, testified to the
Federal Banking Committee, that the value of the dollar was being
scientifically brought down each year by 3-3-1/2%, in order to allow
wages to go up. The reasoning behind this, was that the people were
being made to think that they were getting more, when in fact they
were actually getting less.The Congress has also contributed to this process, by approving
Federal Budgets, year after year, which requires the printing of more
money to finance the debt, which, by the end of 2003, was over
$6,900,000,000,000 ($6.9 trillion). When Wilson was President, the debt
was about $1 billion, and in 1974, the debt was about $1 trillion.In 1937, Rep. Charles G. Binderup of Nebraska, realizing the
consequences of the Federal Reserve System, called for the
Government to buy all the stock, and to create a new Board controlled
by Congress to regulate the value of the currency and the volume of
bank deposits, thus eliminating the FED’s independence. He was
defeated for re-election. Others have also tried to introduce various
Bills to control the Federal Reserve: Rep. Goldborough (1935), Rep.
Jerry Voorhis of California (1940, 1943), Sen. M. M. Logan of Kentucky,