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Posts Tagged ‘Federal Reserve System’

Federal Reserve BoardNote: This is based on this article I posted on April 21, 2012, with the exception that it was about the 99-year charter misinformation, and I have substituted 100-year, which is the alternative misinformation that some people were spreading in 2013 even after the 99-year charter claim had been shown to be false.

There was actually a commenter who alleged a coverup on the part of the Federal Reserve, saying they were lying about there not being a 99-year charter. This is unfortunately not uncommon in what passes for the alternative media these days. It’s not because the Federal Reserve’s website says there was originally a 20-year charter that I say there was a 20-year charter. It’s because there are a variety of historical sources that say so, some of which are non-governmental, and not supporters of the Fed.

The claim that the Federal Reserve was given a 100-year charter set to expire in 2013 isn’t the only myth surrounding its creation.

There is also the myth that the Federal Reserve Act was passed during the Christmas break when most members of Congress were away. That isn’t true, and there is the official record showing the final vote in the Senate was 54-32 on December 18, 1913.

According to Section 4, part 2 of the Federal Reserve Act, 1913, it says of each of the 12 privately owned Federal Reserve Banks:

“To have succession for a period of twenty years from its organization unless it is sooner dissolved by an Act of Congress, or unless its franchise becomes forfeited by some violation of law.“

Since the Federal Reserve Board’s site shows that all 12 original Federal Reserve Banks are still in operation, their 20-year charter must have been extended.

A 20-year charter was also granted to the First and Second Banks of the United States, and both had their charter terminated. Yes, there was a time when privately owned central banks had time-limited charters, and for good reason, due to the havoc they caused.

12 U.S.C. § 341 : US Code – Section 341: General enumeration of powers shows:

“Second. To have succession after February 25, 1927, until dissolved by Act of Congress or until forfeiture of franchise for violation of law.“

Again, since the Federal Reserve Board’s site shows that shows that all 12 original Federal Reserve Banks are still in operation, this provision was either changed with some other time limit, or was never changed.

In fact, it was never changed, and, therefore, their charter doesn’t expire in 2013, and there was never a 100-year charter for the Federal Reserve.

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Top 10Here are the all-time top 10 articles at FauxCapitalist.com by the end of 2013:

1) May 10, 2013: Dr. Stan Monteith, a 35-year orthopedic surgeon on Jeff Bauman’s leg amputations: “I believe that this young man was an actor”

2) June 30, 2010: Australia has $15 an hour minimum wage and is ranked more economically free than the U.S.

3) November 1, 2011: Former Fed Chairman Paul Volcker laughs at the great increase in wealth disparity

4) April 3, 2011: Who is behind enenews.com?

5) April 21, 2012: The Federal Reserve’s non-existent 99-year charter set to expire in 2012

6) January 29, 2011: No evidence that your birth certificate is traded on any exchange

7) April 30, 2011: The U.S. Constitution doesn’t say money should be gold or silver coin

8) January 29, 2011: The United States isn’t a federal corporation

9) September 11, 2011: Rudi Dekkers drops some bombshell 9/11 revelations on the tenth anniversary of the attacks

10) September 30, 2012: More evidence that Fritz Springmeier is a phony: a New World Order colony on Mars

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G. Edward GriffinSome interesting points arose out of this November 24, 2013 interview on the Big Plantation with G. Edward Griffin.

First, in clearing up a misconception about an alleged 100-year charter for the Federal Reserve, he claims there originally was one, when in reality, it was a 20-year charter.

16m – In clearing up misconception about a 100-year charter for the Federal Reserve, he says there originally was one, and it was later removed, when in reality it was a 20-year charter
19m – No JFK speech at Columbia university about breaking up Fed, as he had never even been to that university
25m – Said he likes Bitcoin a lot because it’s independent of government interference
26m – He likes the feature that the supply is limited (FC: Actually, this is one of its big negatives, in my opinion)
27m – Said he doesn’t like that it’s not backed up by something of intrinsic value
28m – Admits govt can shut down gold and silver, too
28m – Said it’s a good idea to have your assets tied up in gold and silver (FC: It wasn’t a good idea in 1933 and 1934, when they were confiscated, respectively!)
29m – Says it’s playing a very important role in the awareness of our monetary problems today
33m – Admits bankers do own a lot of gold, because it’s a store of value (FC: And because they have historically controlled money, economies and nations with it)
34m – Laughably says it doesn’t mean they want to back a currency with it, because it puts limits on their ability to make more money off interest (What about the U.S. backing up its money supply from 1914 to 1933 40% by gold? Were the people crying out for that, or was it the bankers? He’s either unaware of, or intentionally concealing the historical pattern of the bankers reverting to some gold standard in order to shore up confidence in the monetary system after they’ve collapsed the current one.)
39m – Said he’s read evidence claiming that silver could be equal to gold in an unregulated market (FC: Not much evidence to suggest that, since gold has always traded higher than silver throughout the entire history of the United States, including the nearly 30 years after Andrew Jackson killed the Second (Central) Bank of the United States).

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WiredFrom the January 10, 2013 Wired.com article, Meet the Genius Behind the Trillion-Dollar Coin and the Plot to Breach the Debt Ceiling:

Ever the lawyer, Beowulf dived into Title 31 of the U.S. Code: “Money and Finance.” That Journal article was still rattling around in his head. He was also inspired by ideas from attorney-turned-finance-author Ellen Brown, who in her 2008 book Web of Debt quoted a 1980s-era director of Treasury’s Bureau of Engraving and Printing as saying the government could solve its debt problems by printing large coins. He wasn’t talking about circumventing the debt ceiling, which hadn’t yet become a political football, but he may have been on to something.

Wherein they linked to my 2011 article, Ellen Brown on a simple and constitutional way to pay off the United States national debt.

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http://www.veteranstoday.com/wp-content/themes/Transcript/images/authors/gordonduff.jpgFrom the November 30 episode of Live Free or Die Radio with Lee Rogers, Lee drew attention (starting at 34:28) to Veterans Today’s Gordon Duff and his elite bio.

Gordon Duff is a Marine Vietnam veteran, a combat infantryman, and Senior Editor at Veterans Today. His career has included extensive experience in international banking along with such diverse areas as consulting on counter insurgency, surveillance technologies, intelligence analysis,defense technologies or acting as a UN diplomat and “special consultant.”

Duff currently serves on the boards of the Adamus Group, one of the world’s largest energy technology firms and of a private financial institution participating in the Federal Reserve Banking group.

His most recent project adapts advanced military technologies to wildlife and land management in cooperation with the UN, USAID and International Wildlife Federation.

Is this bio satire?

- “extensive experience in international banking” = willful promotion of debt slavery
- “consulting on counter insurgency” = suppressing legitimate political opposition or suppressing controlled opposition after it has served its purpose
- “surveillance technologies” = it’s not for your safety, it’s for *their* safety
- “intelligence analysis” = we tell you what the intelligence says, and if you want to make your own independent analysis, we’ll say you can’t, in the name of national security
- “defense technologies” = offensive technologies
- “acting as a UN diplomat” = acting as a diplomat for a subversive organization that was given free land for its headquarters by the Rockefellers, whose ultimate goal is a one world government

Duff currently serves on the boards of the Adamus Group, one of the world’s largest energy technology firms and of a private financial institution participating in the Federal Reserve Banking group.

Yet why does a Google search for “Adamus Group” turn up more questions than answers, with links on the first page to posts asking for more information about this group?

And serving on the board of a Federal Reserve Bank member bank is no badge of honour, considering the purpose of the Federal Reserve Banks is to serve as a cartel by restricting competition.

Lee Rogers also drew attention to two recent highly suspect articles on the site, which constitute unwarranted fearmongering:

The Immediate Goal Of The Jesuits: Declare Martial Law In The United States

Nuclear Christmas, a Tale of False Flag Terror

In case this isn’t enough of an indication that Duff isn’t a credible source, see this interview where he says:

About 30% of what’s on Veterans Today is patently false. About 40% of what I write is at least purposely partially false, because if I didn’t write false information, I wouldn’t be alive.

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$5 George Washington 200th anniversary of deat...

From the U.S. Treasury Department’s legal tender FAQ (emphasis mine):

I thought that United States currency was legal tender for all debts. Some businesses or governmental agencies say that they will only accept checks, money orders or credit cards as payment, and others will only accept currency notes in denominations of $20 or smaller. Isn’t this illegal?

The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled “Legal tender,” which states: “United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.”

This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.

One consequence of this distinction is that the U.S. Constitution’s clause stating that no State shall “make any Thing but gold and silver Coin a Tender in Payment of Debts” shows that it is only referring to the constitutional authority of the States to make gold and silver coins legal tender for payment of public and private debts, and doesn’t force private businesses and individuals to accept them as payment for goods and services.

I demonstrated earlier how that clause doesn’t require the States to implement legal tender laws, but if they do, then they are mandated under the Constitution to make only gold and silver coins legal tender in payment of public and private debts, but not for payment of goods and services.

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Gary North speaking at the Mises Institute aft...Gary North, in attacking Ellen Brown for her support of government-issued credit, has repeatedly referred to her as a “Greenbacker.”

He states, without reference, that she is “a Greenbacker by confession.

It’s ironic that North got on his high horse and claimed to have discredited her book, Web of Debt, by pointing to errors in it, yet failed to do research into his own bogus claim that she is a Greenbacker.

The Greenback movement refers to those who supported the issuance of interest-free paper money at the federal level during the Civil War era and in the subsequent years of the late 19th century.

Had North done even the most basic amount of research — which he claims Brown failed to do regarding some of her claims — he would’ve come across her proposal (on page 455) for:

A bill to update the Constitutional provision that “Congress shall have the power to coin money” so that it reads, “Congress shall have the power to create the national currency in all its forms, including not only coins and paper dollars but the nation’s credit issued as commercial loans.”

Calling for a constitutional amendment to make Greenbacks constitutional means that Ellen Brown is not a Greenbacker, since she is saying that the Greenbacks that were issued at the time were unconstitutional, and would be unconstitutional if issued today, until an amendment is passed.

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