The Anti-Fed Fact Sheet
So, What Is the Federal Reserve?
The Federal Reserve is a private institution. It is owned by 12 regional banks, which are each in turn owned by a combination of regional banks, commercial banks, foreign banks and miscellaneous individuals who have inherited pieces passed down through generations (Rockefellers, Rothschilds, etc.).
A Brief History of the Fed:
Established in 1913, the Federal Reserve is Americas central bank, run by a board of seven governors who are nominated by the president and confirmed by the senate. The Fed has the power to expand or contract the money supply through various means, most of them opaque to the general public, thus adding to the institutions aura of mystery.
Points of Criticism:
- The presidents plan to prevent further financial downturn is inadvertently giving the Federal Reserve too much power.
- The great increase in the money supply in 2008 will lead to hyperinflation.
- There is no system in place to audit the Fed, so it goes unregulated.
- The Federal Reserve lacks transparency.
- The Federal Reserve is unconstitutional.
Currency Circulation Trend
In 2008, the Fed started pumping a great deal of freshly printed currency into the system, giving rise to concerns of dollar devaluation and future hyperinflation.
The Feds Balance Sheet
The recent jump in the size of the Feds balance sheet has made lawmakers fearful that its power is quickly becoming too great to serve the countrys best interest.
In March 2007, securities numbered about 700,000 and liabilities about 725,000. In September 2007, securities numbers about 700,000 and liabilities numbered about 735,000. In March 2008, securities numbered about 625,000 and liabilities numbered about 725,000. In September 2008, securities numbered about 400,000 and liabilities numbered about 800,000. In March 2009, securities numbered about 625,000 and liabilities numbered about 2,000,000. In August 2009, securities numbered about 1,350,000 and liabilities numbered about 1,950,000.
Recent figures from the Federal Reserve show that the basic measure of the country’s money, or M-1, rose by $100 billion during the last three months of 2008.
The Fed is the only for-profit corporation in America that is exempt from both federal and state taxes, taking in about $1 trillion per year tax free.
As a result of congressional acts in 2008, the Federal Reserve now has the authority to purchase many different types of assets, essentially enabling it to seize all valuable assets in the country directly by exchanging the currency they print without having to get approval from the government
Quotes About the American Financial System:
“If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered.” — Thomas Jefferson
“What America has succeeded in creating is not an economy impervious to shocks, but merely one which enables their consequences to be postponed to a later date.” — Peter Schiff
“The constitution does not give Congress the authority to delegate control over monetary policy to a central bank.” — Ron Paul
“Whoever controls the volume of money in any country is absolute master of all industry and commerce.” — President James A. Garfield
“Give me control of a nations money and I care not who makes its laws.” — Mayer Amschel Bauer Rothschild
Should We Audit the Fed?
According to a Rasmussen Reports national telephone survey, 76 percent of the respondents said yes, 9 percent said no and 15 percent were undecided.