“The only thing we have to fear, is fear itself.”
If we Rescind the “Federal Reserve Act of 1913″(Rescind The Fed) we can recover vast trillions of dollars, and convert some of it into United States Treasury Notes.
Rescission – (LAW) The act of rescinding; the cancellation of a contract and the return of the parties to the positions they would have had if the contract had not been made; “recission may be brought about by decree or by mutual consent”
The abrogation of a contract, effective from its inception, thereby restoring the parties to the positions they would have occupied if no contract had ever been formed.
The True Democracy Party doesn’t just want to “End The Fed”, we want to “Rescind” them.
An Act Of Rescission:
The TDP has our eyes on the $16 Trillion Dollars the Fed has given away over the past 8 to 10 years.
We want that money back. Every cent.
And any additional billions or trillions they give away to foreign banks or to “Too Big To Fail” US banks.
THIS IS OUR GREATEST TOOL, THEIR WORST NIGHTMARE!
What would we do with money? SHELVE IT!
We would cancel it out and Print New Debt Free US Treasury Notes, as needed.
The banks will cry foul, but you must understand one thing. For every dollar we have given them, they have created nine dollars out of thin air. If we gave them $10 trillion dollars, they turned around and made up $90 trillion out of nothing.
Yes, believe it or not, this is how the Fed works.
So whatever money we take back from them, they have already made up nine times that amount, out of thin air.
We will take this money out of circulation, and thereby strengthen the remaining money in circulation.
Since the Federal Reserve was created, the US Dollar has lost 96% of it’s value. The very thing that the Fed was supposedly created to prevent. They have been a complete and utter failure at the job they said they would do, and we want our money back, period.
Of course the Fed will say: “There are no US Laws that we have to follow. We can’t be charged with breaking any US Laws.
We can’t be Charged with breaking our own laws and rules. We have total immunity from ALL LAWS.”
This is actually correct. They paid off Congress to make them immune from all US Laws. But laws can be changed.
A True Democracy Controlled Congress would Repeal or Rescind any Federal Reserve Immunity Laws within 30 days. And the following day, we would start Rescission Proceedings.
We would also Repeal or Rescind the Patriot Act, which by default, would automatically cancel out The Dept. of Homeland Security, and a multitude of other heinous, expensive anti-liberty, anti-freedom laws, regulations and security departments, that are based upon it. But that’s another story.
Whatever we need, to do whatever we want, this is the immediate seed money to get started. Converted into debt-free treasury notes first though.
This is a law and practice that is constantly being used against citizen’s. Especially in the Healthcare insurance industry.
If they fail to weed you out in the screening process and fail to find any thing to stop you from having much needed medical care, they have one more trick.
-Rescission: Rescission Department’s, re examine all your records. And if they find anything, no matter how small, that “they” think is a little fraud, they pull all the money paid to hospitals and doctors, and force the new patients and doctors to fight each other in court for payment.
“What’s good for the Goose, is good for the Gander.”
We can also recover up to $4 trillion per year if corporations pay; They’re fair share of Taxes, and for minerals taken off Public lands and not paid for. Gold and platinum come to mind.
The American Dream FULL LENGTH
The BANKSTA (CFR) Plan:
Low and lower wages. No unions. No safety nets. No minimum wage law. No food stamps. No medicare. No soc.security. No property rights. No tax(es) on corporate profits. A Federal sales tax (vat) of 12%. All Gov revenue to come from taxes on your labor, just one paycheck away from destitution and too exhausted to protest (anything).
This is so important, we have to immediately re-post it.
Federal Reserve Gave $16 Trillion To Large Banks Here and Overseas – Sen. Bernie Sanders
The Fed Audit
July 21, 2011
The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. “As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world,” said Sanders. “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.”
Among the investigation’s key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. “No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president,” Sanders said.
The non-partisan, investigative arm of Congress also determined that the Fed lacks a comprehensive system to deal with conflicts of interest, despite the serious potential for abuse. In fact, according to the report, the Fed provided conflict of interest waivers to employees and private contractors so they could keep investments in the same financial institutions and corporations that were given emergency loans.
For example, the CEO of JP Morgan Chase served on the New York Fed’s board of directors at the same time that his bank received more than $390 billion in financial assistance from the Fed. Moreover, JP Morgan Chase served as one of the clearing banks for the Fed’s emergency lending programs.
In another disturbing finding, the GAO said that on Sept. 19, 2008, William Dudley, who is now the New York Fed president, was granted a waiver to let him keep investments in AIG and General Electric at the same time AIG and GE were given bailout funds. One reason the Fed did not make Dudley sell his holdings, according to the audit, was that it might have created the appearance of a conflict of interest.
To Sanders, the conclusion is simple. “No one who works for a firm receiving direct financial assistance from the Fed should be allowed to sit on the Fed’s board of directors or be employed by the Fed,” he said.
The investigation also revealed that the Fed outsourced most of its emergency lending programs to private contractors, many of which also were recipients of extremely low-interest and then-secret loans.
The Fed outsourced virtually all of the operations of their emergency lending programs to private contractors like JP Morgan Chase, Morgan Stanley, and Wells Fargo. The same firms also received trillions of dollars in Fed loans at near-zero interest rates. Altogether some two-thirds of the contracts that the Fed awarded to manage its emergency lending programs were no-bid contracts. Morgan Stanley was given the largest no-bid contract worth $108.4 million to help manage the Fed bailout of AIG.
A more detailed GAO investigation into potential conflicts of interest at the Fed is due on Oct. 18, but Sanders said one thing already is abundantly clear. “The Federal Reserve must be reformed to serve the needs of working families, not just CEOs on Wall Street.”
So when Cogress says we don’t have money, you know why. They allowed all our money to be given away to foriegn interests. What kind of Government gives away all their people’s money to foriegn banks? And what kind of people allows that?
These next two video’s are a month or two old, but Peter Schiff is always ‘Right On’ when it comes to financial preditions. Always.
Ron Paul: Rescind America’s Fictitious $1.6 Trillion Debt to the Federal Reserve
Lori Rothman (Fox News): And hello everybody. Welcome. I’m Lori Rothman, sitting in tonight for David Asman. Stocks are tumbling today. Wall Street may be waking up to the idea that a deal to raise the debt ceiling (especially one with tax hikes) is exactly the last thing a huge majority of Americans want right now. The fact that Americans don’t want a deal is hanging over the White House talks like a giant elephant. A recent CBS News poll finds that just 24% of Americans support lifting the debt limit, but 69% say the debt ceiling should not be raised. Americans are aware of the consequences, too. Fully, 72% believe it is at least somewhat likely the economy will take a severe downturn if the debt ceiling is not raised. Americans clearly do not want more spending, no matter what. The President is not listening.
[Video clip: President Barack Obama: I’d rather be talking about stuff that everybody welcomes, like new programs, or the NFL season getting resolved. Unfortunately, this is what’s on our plate.]
Lori Rothman: Republican Congressman Ron Paul (R-TX) says, “Everybody does not welcome new programs.” He is running for President and he has his own solution to the debt problem. Welcome, Congressman.
Ron Paul: Thank you. Good to be with you.
Lori Rothman: Great to have you. You famously said that we should not raise the debt ceiling, and you have an idea to save 1.6 trillion with one swipe at the Fed’s balance sheet. Explain the idea.
Ron Paul: Right. We’re over the debt limit and they’re worrying about it. And I said, one solution — if we wanted to get serious and get down to business in the next year, do all the work we should do — we could get a reprieve, because we owe $1.6 trillion to the Federal Reserve. But where did they get the money to buy our debt? Well, they created it out of thin air. So taxpayers keep working hard to pay the interest to the Federal Reserve, as well as to finance these bonds if the Fed wants to take the monies. So I would say that is not a real debt. It’s a fictitious debt. It’s a dishonest debt, and that we’re not obligated. So if you don’t want pay interest for a while to the Fed, or just quit paying, then we can meet all our other obligations, and people shouldn’t be panicking that we’re going to default on our debt.
Lori Rothman: But it isn’t fictitious debt, Congressman, if you consider that that liquidity is in the financial markets. And so, if you wipe off the bonds and other assets off the Fed’s balance sheet, you still have all that money — right — that’s being hoarded by the banks, and at some point it’s going to be lended [sic: loaned] out. And then you have a big problem with inflation, don’t you?
Ron Paul: Well, this doesn’t change it. It stays the same. The Fed is not about to call that money back in. They’ve said, “Oh, when are we going to end QE2 and when are we going to downsize our balance sheet?” They’re not going to do that! The market—
Lori Rothman: But the Fed needs to have those to maintain those bonds, so that if it does call that liquidity out, in inflationary times, it can do that, to sell those bonds back into the financial marketplace.
Ron Paul: Well, all they have to do is raise Reserve requirements, and they would accomplish the same thing. So no, you don’t have to do that. But what I’m exposing is the fiction of the Federal Reserve on how they buy bonds, and what do they do with the interest, and why we owe them money, and why they contribute to the total debt of the country. And it’s not real debt in the sense that, if you owned a Treasury Bill, that’s a lot different. Or if we owe — if a Chinese owns a Treasure Bill, yes, if we default on that, that’s going to raise some eyebrows, but the Federal Reserve is quite different. I mean, this is debt that they were able to buy out of thin air. But they’ve already monetized that debt; that money is in the economy. Now, if you expect next month the Fed is also about ready to shrink the money supply, well, that would provide a problem. But that isn’t likely. That isn’t going to happen. They’re not in any mood to do that. And they’re going to continue buying debt, as they always have, so they can — they have plenty of room for manipulation, believe me! They manipulated trillions of dollars during the bailout and took care of their friends. They’re not handicapped. The only thing that’s handicapping the Fed now is people want transparency. Before, they did it in the dark of night and nobody knew what was going on. Now that we’ve exposed them, we have to see the Federal Reserve Board Chairman having press conferences, and—
Lori Rothman: I know that you are notable for — you’ve written a book about wanting to get rid of the Fed. Would you at the very least, though, be satisfied, Congressman, if the Fed just ditched its dual mandate – right — just got rid of the jobs mandate and just focused on price control? Because really the Fed, Bernanke was right when he said fuel prices, energy prices and food prices were transitory. We’ve gotten a bit of a lift off the gas price.
Ron Paul: Well, I think that’s a good suggestion, because they’ve had a dual mandate — one, stable prices and one for employment. We have no stable prices and no full employment. So I would take both mandates away from them and let them have a check-clearing outfit there, or something like that. But no.
Lori Rothman: So you must love this idea for an infrastructure bank. The jobs report — the June jobs report — was horrible. And now there’s a talk — they’re not calling it “stimulus,” but by any other name it would amount to that. What does this country need for job creation?
Ron Paul: Yeah. Well, what you need to do is change everything that we’ve been doing. We have too much spending and too much taxes, too much regulation, too weak of a currency, and we’re doing all the things wrong. But the most important thing that we’re doing wrong – and devastating thing – is we don’t allow the correction to occur. We don’t allow the liquidation of debt. We prop up all the mistakes. We buy the bad debt, where the banks that held this bad debt and these derivatives, they should have all gone bankrupt. Instead, the taxpayers got stuck with them. So we bailed out the financial institutions — the banks and the corporations and Wall Street — and they’re doing quite well. And yet, they said there would be a depression, of course, if we didn’t bail them out. We still had the depression! We still—
Lori Rothman: So do you think Americans don’t want a deal on the debt ceiling? Sorry to interrupt you.
Ron Paul: Let me still fin — let me—
Lori Rothman: Go on.
Ron Paul: Let me finish. We still ended up with the depression, because the People lost their jobs and lost their houses. Go ahead.
Lori Rothman: No, I just wanted to put to you — I mean, fine. Leave the debt ceiling; deal with the economic consequences; we hear you. So, I mean, do people just not want a deal in the end? I mean, how are we going to sort out and deal with the ramifications here?
Ron Paul: The ramifications of what is going on now and how we get back to full employment? Is that the kind of thing you’re talking about?
Lori Rothman: Absolutely.
Ron Paul: Yeah. Well, you have to do what I said. You have to change policies. We do have to cut, but we have to cut a lot! But we have to change the philosophy of government. We can’t maintain an empire. As long as we think we can do that, we’re on the way — I mean, we are literally and technically bankrupt; we can’t pay our bills, and we don’t have enough income. The only thing that keeps us going is counterfeiting our money. And the people — even today — people were buying dollars, because there’s nothing else out there other than gold. So yes, the dollar is still providing funds, but we’re counterfeiting the money. But we’re defaulting because the dollar’s going down in value when you look at your prices. The government — our government — defaults all the time. And we’re going to continue to default. But the way we’re going now, though, it’s going to be much much worse than — if we raise the debt limit, it’s going to be much worse than us biting the bullet and saying, “We need to change our attitude. We have to look at this. We have to change our way.”
Lori Rothman: We’ll have to leave it there. Thanks for engaging us, Congressman Ron Paul. Appreciate your time.
Ron Paul: Thank you.
SECRET BIRTH OF THE FEDERAL RESERVE: THE CREATURE FROM JEKYLL ISLAND (by G. Edward Griffin) “It Shouldn’t Be Audited. It Should Be Abolished!”
1) It is incapable of accomplishing it’s ‘Stated Objectives’.
2) It is a ‘Cartel’ Operating against the ‘Public Interest’.
3) It is the Supreme Instrument of ‘Usury’.
4) It Generates our most ‘Unfair Tax’.
5) It encourages WAR!
6) It Destabilizes the Economy.
7) It is an instrument of Totalitarianism!
Jeckyll Island and the Federal Reserve
In 1908, the year after a national money panic purportedly created by J. P. Morgan, Congress established, in 1908, a National Monetary Authority. In 1910 another, more secretive, group was formed consisting of the chiefs of major corporations and banks in this country. The group left secretly by rail from Hoboken, New Jersey, and traveled anonymously to the hunting lodge on Jekyll Island.
The meeting was so secret that none referred to the other by his last name. Why the need for secrecy? Frank Vanderlip wrote later in the Saturday Evening Post, “…it would have been fatal to Senator Aldrich’s plan to have it known that he was calling on anybody from Wall Street to help him in preparing his bill…I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System.”
At Jekyll Island, the true draftsman for the Federal Reserve was Paul Warburg. The plan was simple. The new central bank could not be called a central bank because America did not want one, so it had to be given a deceptive name. Ostensibly, the bank was to be controlled by Congress, but a majority of its members were to be selected by the private banks that would own its stock.
To keep the public from thinking that the Federal Reserve would be controlled from New York, a system of twelve regional banks was designed. Given the concentration of money and credit in New York, the Federal Reserve Bank of New York controlled the system, making the regional concept initially nothing but a ruse.
The board and chairman were to be selected by the President, but in the words of Colonel Edward House, the board would serve such a term as to “put them out of the power of the President.” The power over the creation of money was to be taken from the people and placed in the hands of private bankers who could expand or contract credit as they felt best suited their needs.
Why the opposition to a central bank?
Americans at the time knew of the destruction to the economy the European central banks had caused to their respective countries and to countries who became their debtors. They saw the large- scale government deficit spending and debt creation that occurred in Europe.
Shortly after the United States gained its freedom, the Rothschilds attempted to saddle the country with a private central bank. This Bank of the United States was abolished by President Andrew Jackson with these words:
The bold effort the present bank has made to control the government, the distress it had wantonly produced…are but premonitions of the fate that awaits the American people should they be deluded into a perpetuation of this institution or the establishment of another like it.
But European financial moguls didn’t rest until the New World was within their orbit. In 1902, Paul Warburg, a friend and associate of the Rothschilds and an expert on European central banking, came to this country as a partner in Kuhn, Loeb and Company. He married the daughter of Solomon Loeb, one of the founders of the firm. The head of Kuhn, Loeb was Jacob Schiff, whose gift of $20 million in gold to the struggling Russian communists in 1917 no doubt saved their revolution.
The Fed controls the banking system in the USA, not the Congress nor the people indirectly (as the Constitution dictates). The U.S. central bank strategy is a product of European banking interests.
By John Pounders, Paradigm Publishing, Copyright 1996
Planning of the Federal Reserve System
At the end of November 1910, Senator Nelson W. Aldrich and Assistant Secretary of the U.S. Treasury Department A. Piatt Andrew, and 5 more of the country’s leading financiers, who together represented about one-fourth of the world’s wealth, arrived at the Jekyll Island Club to discuss monetary policy and the banking system, an event led to the creation of the current Federal Reserve. According to the Federal Reserve Bank of Atlanta, the 1910 Jekyll Island meeting resulted in draft legislation for the creation of a U.S. central bank. Parts of this draft (the Aldrich plan) were incorporated into the 1913 Federal Reserve Act.
On November 5–6, 2010, Ben Bernanke stayed on Jekyll Island to commemorate the 100-year anniversary of this original meeting. The Conference was the first official confirmation of the revelations made initially in 1949 by Ezra Pound to Eustace Mullins in his work Secrets of The Federal Reserve and later reported by G. Edward Griffin in his book The Creature from Jekyll Island.
Forbes magazine founder Bertie Charles Forbes wrote several years later:
Picture a party of the nation’s greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily riding hundred of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned, lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance.
I am not romancing; I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written… The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done. Senator Aldrich notified each one to go quietly into a private car of which the railroad had received orders to draw up on an unfrequented platform. Off the party set. New York’s ubiquitous reporters had been foiled… Nelson (Aldrich) had confided to Henry, Frank, Paul and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank and Henry… Warburg is the link that binds the Aldrich system and the present system together. He more than any one man has made the system possible as a working reality. WIKIPEDIA
Because of the crescendo effect of banks which lent more than their assets could cover, during the last quarter of the 19th century and the beginning of the 20th century, the United States economy went through a series of financial panics.
The Federal Reserve System is the third central banking system in the United States’ history. The First Bank of the United States (1791–1811) and the Second Bank of the United States (1816–1836) each had 20-year charters, and both issued currency, made commercial loans, accepted deposits, purchased securities, had multiple branches, and acted as fiscal agents for the U.S. Treasury.
In both banks the Federal Government was required to purchase 20% of the bank’s capital stock and appoint 20% of the directors.
Thus majority control was in the hands of private investors who purchased the rest of the stock. The banks were opposed by state-chartered banks, who saw them as very large competitors, and by many who understood them to be banking cartels which compelled to them servitude of the common man. President Andrew Jackson vetoed legislation to renew the Second Bank of the United States, starting a period of free banking. Jackson staked his second term on the issue of central banking stating, “Every monopoly and all exclusive privileges are granted at the expense of the public, which ought to receive a fair equivalent. The many millions which this act proposes to bestow on the stockholders of the existing bank must come directly or indirectly out of the earnings of the American people.”
In 1863, as a means to help finance the Civil War, a system of national banks was instituted by the National Currency Act.
And thus it began. From the very beginning.
G Edward Griffin: A New Currency is Coming Soon; and The US Dollar is a Big Scam – PT. 1 of 2