I liked this comment from an earlier post on usury so much that I think it deserves its own space. Here it is:
"The Federal Reserve Back creates ALL Dollars in circulation, and the individual banks assist in creating digital Dollars through fractional reserve banking. 100% of all Dollars created, whether printed by the Department of Treasury, or created digitally by banks, are interest bearing documents (hence the name Federal Reserve Note), which must be repaid only with more Federal Reserve Notes. This is a very important distinction.
"Because of the Federal Reserve Act, ALL Dollars (FRNs) are perpetual debts without the ability to pay back in full, since all interest on the Dollars borrowed can only be paid with more Dollars, each bearing interest payments. More plainly, not only are the Dollars debt, but the interest payments are also debt.
"ANYONE (especially politicians) who claim they will reduce the debt, are either lying, ignorant, or both, as the Dollar based debt can NEVER, EVER, EVER, be repaid. It can only be defaulted upon. But since the bankers who control the Federal Reserve Bank are in control of most western governments, including the US, this nation will only become more indebted until The People revolt and ensure the Dollar debt is defaulted upon. But until more people realize how Dollars are created and used, and that 100% of all Sixteenth Amendment Income Taxes are used only for interest payments (not SS, Medicare, Defense, etc.) towards Dollar debt to the privately owned Federal Reserve Bank, little will change."
Surely someone's getting very rich through this ponzilike scheme of ad infinitum usury. But feel free to disagree.
In other news, I got a haircut, like a depositor in a Cypriot bank. Short's the word.
Your old buddy,
LSP
It's good to hear that your hair is now 'high and tight' per DLC regulations.
ReplyDeleteMoving onto the principle point, the Federal Reserve is a racket and was designed as such. The idea was that an incentive would be given to the private corporation (Federal Reserve) with secret membership to manage what the government was too incompetent to manage.
What does Blue Investment Banker think about the Federal Reserve? My sense is that if they supply him with good fried chicken, he'll stick with the program.
ReplyDeleteIn other words, he can be bought...for fried chicken or a knuckle bone.
We may be irregular, LL, but that doesn't mean there aren't standards.
ReplyDeleteBlue Hedge Fund is in pretty tight with the Federal Reserve, so I guess you're right. They've obviously bought him off with fried chicken and the odd bone, maybe the occasional chop.
But just wait and see what'll happen when the payments stop.
It'll be messy.
I reckon I got a lesson in that point of how the value of money is manipulated, when I cashed in a 43-year-old savings bond, given to me by my grandmother soon after my birth. That $25 bond had accrued enough interest to be worth $126 and change. As I remarked a couple of times, that $25 was still a lot of money back then! For comparison, a couple years ago I was given a Marlin lever-action carbine that my grandfather had bought a few years before I was born, still in it's box, with price tag of $79 still attached. A current Marlin .30-30 has a MSRP of just over $600, tho I'm sure you could find one for slightly less. So in both cases, inflation has destroyed any value of the American worker's savings.
ReplyDeleteIn the case of Blue Avenger, if the gravy train stops, he's already demonstrated a willingness to shoot the messenger, or at least bite him, even if it's just in the form of a lowly mailman.
ReplyDeleteHe has a definite bias against USPOST.
ReplyDeleteI don't know why, Mattexian.