IN 1913, THE U.S. CONGRESS PASSED A BILL CALLED THE FEDERAL RESERVE ACT. This bill allowed an independent, non-government group to privatise, and take control of America’s monetary system. The Federal Reserve Bank’s name was chosen by this group so as to deceive the American people into believing that the Federal Reserve was a branch of the U.S. Government.
This privately held monopoly continues even today to give enormous power to a handful of international bankers, non-Americans, to issue America’s money, to set interest rates, to finance endless wars, and to enslave the American citizens, and the other nations of the world in a state of perpetual debt. This debt based monetary system is what has destroyed the American economy, and has brought with it depressions, and recessions for several generations. This will continue, until the Federal Reserve, and the fractional reserve lending practices of the centralized banks ceases to exist.
Facts About the Federal Reserve
● The Federal Reserve is a privately owned for profit corporation.
● The Federal Reserve has no reserves.
The name was created prior to the Federal Reserve Act, which was passed in 1913. This was done to make Americans believe the U.S. banking system operated in the public interest. The Federal Reserve is a private bank owned by private shareholders, and runs purely for private profits. The result has been the creation of a debt based monopoly that must be paid for by the American tax payer. As of this writing, the U.S. national debt is nearly twenty trillion dollars. See: The U.S. Debt Clock for an update as to how much this debt has ballooned.