KRS One's take on Barack and the US Gov't

Replies to This Discussion

Permalink Reply by Short bus on March 1, 2009 at 9:02pm

Mr. Black … this article is a very good example of what Reggie was trying to get you to understand. Dr. Black said “The Fed is an independent federal agency. It does not receive a penny of taxpayer money” This statement is NOT TRUE!
Black's Law Dictionary defines the "Federal Reserve System" as, "Network of twelve central banks to which most national banks belong and to which state chartered banks may belong. Membership rules require investment of stock and minimum reserves."
Privately-owned banks own the stock of the Fed. This was explained in more detail in the case of Lewis v. United States, Federal Reporter, 2nd Series, Vol. 680, Pages 1239, 1241 (1982), where the court said:
Each Federal Reserve Bank is a separate corporation owned by commercial banks in its region. The stock-holding commercial banks elect two thirds of each Bank's nine member board of directors.
The Fed basically works like this: The government granted its power to create money to the Fed banks. They create money, then loan it back to the government charging interest. The government levies income taxes to pay the interest on the debt. On this point, it's interesting to note that the Federal Reserve act and the sixteenth amendment, which gave congress the power to collect income taxes, were both passed in 1913.

Louis T. McFadden, Chairman of the House Banking Committee 1930s.
Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve banks. The Federal Reserve Board, a Government Board, has cheated the Government of the United States and he people of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States; has bankrupted itself, and has practically bankrupted our Government. It has done this through the maladministration of that law by which the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it. Louis T. McFadden

After I post this I will be emailing Dr. Black.

▶ Reply to This

Permalink Reply by Short bus on March 1, 2009 at 9:25pm

The Federal Reserve is no more federal than Federal Express and has no reserves!!!!!!!! It is a privately own BANK corporation. Look it up in the phone book it is in the white pages not the blue.

WAKE UP AMERICA!!!!!

▶ Reply to This

Permalink Reply by Reggie on March 2, 2009 at 9:37am

Kevin, Dr Black is a joke. I had to check him about 2 years ago when he was spewing the fact that Blacks should be happy that they can get sub prime loans. All the while he is sitting on the board of a bank that filed bankruptcy because they gave out too many of sub prime loans. He is a joke and the fact that u endorse him speaks volumes.

▶ Reply to This

Permalink Reply by kevin black on March 2, 2009 at 2:14pm

I pointed to that article, NOT to endorse Dr. Black, but to show the checks and balances that are in place in this country. Reggie, you stated earlier that the Fed. Reserve was secretly running this country. How can that be possible when they are appointed by the President of the United States? Neither you, Shortbus, nor KRS1 have answered that question yet................

▶ Reply to This

Permalink Reply by chivo1377 on March 3, 2009 at 6:28pm

"Reggie, you stated earlier that the Fed. Reserve was secretly running this country."

Reggie was wrong, the FED is not secretly running the country... they are now openly doing so!!!

"How can that be possible when they are appointed by the President of the United States?"

Because the fed chairman is appointed by the president but the list of 5 names that he is given to choose from comes from the fed board itself!

▶ Reply to This

Permalink Reply by Short bus on March 3, 2009 at 7:39pm

Government, possessing the power to create and issue currency and credit as money and enjoying the right to withdraw both currency and credit from circulation by taxation and otherwise, need not and should not borrow capital at interest as a means of financing governmental work and public enterprise. The government should create, issue and
circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers. The privilege of creating and issuing money is not only the supreme prerogative of government, but it is the government's greatest creative opportunity.
Abraham Lincoln. Senate document 23, Page 91. 1865

Goverment how has turn this over to the Feds.

▶ Reply to This

Permalink Reply by Reggie on March 3, 2009 at 11:06pm

Kevin, did that answer your ?? (Chivo and Short bus replies). Now, take the time to read the books and/or check out the videos that I gave u earlier. Reggie

▶ Reply to This

▶ Reply to This

• ‹ Previous
• 1
• 2
• Next ›
• Page