The Federal Reserve.

Go Away Federal Reserve System!
Go Away Federal Reserve System! (Photo credit: r0b0r0b)

There are times when we think to ourselves that maybe life would have been much easier, less of a hassle, if we hadn’t become aware of certain things. For me to link the Federal Reserve with Jesus turning over the tables of the money changers could be one of those times.

Just as the majority of citizens we never give the banking system a second thought. We simply go along with the system as “that’s how it has always been”. If we ask the majority of citizens the question, “What is the Federal Reserve?” the responses would probably be something like this.

“Oh, they’re with the government. They print the money.” Or “That’s a branch of the government like the State Department or the Defense Department. They control the economy by controlling the money supply and interest rates.” Or “They try to keep the economy steady by making adjustments of some type.”

So we find that the majority of people are simply going along with the flow with regard to banking and other businesses having to do with money. This is totally understandable as “that’s how it has always been.”

It would be safe to say that in this world the more money one has the more power one has, yes?  We are talking about financial power. It would be safe to say that the majority of you reading these words do not own a bank, correct? All of the banks in America, with exceptions such as those which are state-owned like the Bank of North Dakota, are privately owned.

Banks are owned by folks who have become very wealthy such as successful businessmen and women, doctors, real estate moguls, dentists etc. For those who are the owners or shareholders of banks they are a source of increased income on the cash that they have accumulated. As we are all too painfully aware, the amount of interest paid to the depositors on their savings and checking accounts is small compared to the interest fee paid by the depositors for credit card bills, home loans, car loans etc.

Another painful awareness a lot of people have come to know happens after we borrow money from banks, whether through making purchases with our credit cards, take out a mortgage loan for a house, or buy a car with a loan from the bank. Credit cards are an especially good example when searching for people’s painful awareness about banks.

Here we see the most lucrative transactions for banks. Credit cards ads appear constantly on the television through major media, in prime time. You can imagine how much those ads cost the banks. You must admit some of them are funny and make you think this company is cool. Then people go out and get their credit cards while seeing posters at the entrance to the bank of the humorous characters from the commercials.

Heck, they are going to give me cash back on the amount that I spend using my credit card! This is great! Until something occurs having to do with that legalese contained in the information packet you get when you receive your card in the mail. You know, the legalese that hardly anyone reads. Something like your sister having to borrow money from you so you end up missing some credit card payments.

Or you are downsized when the corporation that you worked for sent the manufacturing plant to another country where the owners determined they could maximize their profits. All kinds of unexpected events happen where credit card holders run into payment problems. Then that legalese kicks in. You know, where the interest on the balance goes to 19.99% or higher.

But that commercial was so funny you think to yourself. So we start to see that banking is a business and the thing about business is that it is about profit.

There are many sizes of banks depending on the number of depositors they have. If you live in a small town you may even know the owners. The owners of small banks have financial power which is less than the owners of somewhat larger banks in bigger towns which allow a larger number of depositors.

As we compare financial power held by owners or shareholders of banks we see that the larger the city, the more depositors for banks, and the more profit-income becomes generated for the owners. When we get to the largest metropolitan areas in the world, then we are talking about some very serious income for owners of banks. It would be safe to say that the larger the bank, the larger the seriousness of the owners’ financial power becomes as well.

Have you ever wondered about the amount of money that has been accumulated by those families which have been in the banking industry for many generations? Is it not safe to say that there are surely people on this planet who have tens, hundreds of millions of dollars accumulated? There are reports of banking families who control billions of dollars.

It would not surprise one if there are people on this Earth who control over a trillion dollars. Can you imagine yourself as a trillionaire? That’s $1,000,000,000,000. One thousand billion dollars. Now we are talking about some very, very, very serious financial power.

How would people in banking go about accumulating a trillion dollars? From our previous example we compared the incomes and financial power of small town, medium-sized city and large metropolitan area owners of banks. Fairly straightforward stuff.

Just for fun (it could never happen, right?), can we imagine if the Federal Reserve was controlled by private interests; a group of people? Those people would surely have the most financial power of any people on this Earth. Thankfully the Federal Reserve is a part of the government and not owned by private shareholders. That would result in way too much concentrated power possessed by a few people.

The Federal Reserve is controlled by private interests.

You may remember seeing signs which with the words “End the Fed” held by some at the recent Occupy Wall Street gatherings. End the Fed means taking the control of the money supply away from private interests and placing that immense power into the hands of the people in the form of a public service institution of the United States government.

These are two documentaries which will allow you to cut to the chase and tremendously increase your awareness of this most important subject.

  • “The Secret of Oz” by Bill Still. This film will give you a thorough awareness of the history of money and banking. You will recommend the film to others. It is that powerful.
  • Inside Job by Charles Ferguson. This film  won the Academy Award for Best Documentary of 2011. You will recommend the film to others as it too is that powerful.

I could give you more information about films and books on banking and money but these two films alone will make your head spin with their revelations. I would recommend watching Bill Still’s The Secret of Oz first as you will then have learned enough to understand, in a much more thorough way, what Charles Ferguson’s Inside Job is saying to the world.

In my opinion, the information contained in these films is of the highest importance for humanity.

****

Jackson Browne and Bonnie Raitt “World in Motion” Farmaid

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