I’m not kidding when I say that the fact that most Americans don’t even know what a central bank is, could be considered a full-blown conspiracy. It’s the most important and determining financial institution of the 20th century. This is certainly true in the 21st century and most people know SQUAT about it.
It was established back in 1913. Knowing the history of this powerful regime is monumental to functioning as an informed citizen and investor in America – and worldwide.
Today, the Federal Reserve functions as America’s central bank. It includes seven members on the Board of Governors, a network of 12 Federal Reserve satellite banks around the country, as well as the Federal Open Market Committee or FOMC. The FOMC sets the nation’s monetary policy and includes the seven Board members and five Reserve Bank presidents.
The Fed wasn’t so multi-layered when it was founded over a century ago with the supposed purpose of preventing bank panics like the massive one that America suffered in 1907. With the stated objective of promoting “maximum employment, stable prices, and moderate long-term interest rates,” the Federal Reserve Act has, in practice, established a controlling system to set monetary policy in America. Nothing has been stable or maximized, though, except for corruption and wealth transfers to bankers. It’s a mafia for printing currency.
The seeds of centralized control over the nation’s financial system were sown in November of 1910, when six wealthy financiers met secretly at the Jekyll Island Club, situated off the coast of Georgia. There they wrote the plan that eventually birthed the Federal Reserve. The property was owned by J.P. Morgan, one of the wealthiest bankers at the time. This is the guy who inspired the Monopoly Man.
The Jekyll Island meeting, which has been shrouded in mystery even up to the present day, established the principles that continue to govern the Fed’s agenda: easy liquidity, strict management of the nation’s money supply, and unrivaled control over the banking system.
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Control is centralized in the hands of the Federal Reserve – and there’s blood on those hands. When President John F. Kennedy issued Executive Order 11110 in June of 1963 – a measure which would have given the U.S. government the power to issue currency without going through the Federal Reserve – the future of the Fed was hanging in the balance.
Just five months later, Kennedy was assassinated and Executive Order 11110 died with him.
What we do know for certain, though, is that the Federal Reserve’s actions have been historically impactful and often detrimental. One instance was the Fed’s utter failure to act as a lender of last resort during the banking panics of 1930 through 1933, which precipitated the Great Depression.
It wasn’t until 2002 that Fed Chairman Ben Bernanke finally admitted on behalf of the central bank, “Regarding the Great Depression…we did it. We’re very sorry…We won’t do it again.”
Today, the Federal Reserve is known for controlling the nation’s money supply through quantitative easing (buying massive amounts of government bonds and suppressing Treasury interest rates). The Fed essentially used the American economy as a lab rat in a 1961 experiment known as Operation Twist, in which the FOMC deliberately flattened the yield curve (a dangerous move by any measure) in order to strengthen their precious U.S. dollar.
Quantitative easing is making a comeback – we’re about to see QE4 next. The latest generation of experiments in ultra-loose monetary policy has created a massive wealth gap.
The FED is helping the wealthy get even richer.
Hatred towards this institution is peaking and I expect to see major changes on the horizon.
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