The Federal Reserve System is a privately held, for profit - TopicsExpress

The Federal Reserve System is a privately held, for profit corporation, and not a government agency. It was created by bankers for bankers as a lender of last resort, so that whenever a banker ran his businesses poorly he could be bailed out at the expense of the public. The Fed does not have any reserves, it simply creates fiat money out of nothing and lends it out at interest to businesses and the federal government. The American people are then forced to pay for the bailouts to government and businesses through inflation and personal income taxes on their labor. The currency the Fed creates out of thin air and loans out to the government at interest is called Federal Reserve Notes - look at the top of what you may think are your Dollars and you will see they are actually Federal Reserve Notes (FRNs). FRNs are backed by nothing. US Dollars are required by law to be backed by gold and silver, but US Dollars are no longer in circulation. The only real US Dollars still somewhat in circulation are US Silver Eagles and Gold Eagle coins, but they have become so valuable due to the Feds inflation and destruction of the FRN currency, that it takes thousands of FRNs just to buy a single US $50 gold coin, and dozens of FRNs to buy a single US $1 Dollar silver coin. The Federal Reserve System operates through manipulation of interest rates, which results in expanding and retracting bubbles of inflation, referred to as business cycles. When the Fed inflates the currency, it is effectively a hidden tax on existing currency, because the value of the newly created currency is stolen from the value of existing currency. This is reflected in continually rising prices, even though advances in technology and manufacturing processes should result in lower prices and a higher standard of living for everyone. Since the creation of the Fed in 1913, it has debased 99% of the value of the Dollar. In other words, it now takes $100 FRNs to buy what just $1 US Dollar would buy in 1913, as a result of inflation due to the Fed counterfeiting so much currency. If you had saved $100 in 1913, it would now only buy as much as a single 1913 Dollar would have bought at that time. The other $99 of value would have been stolen through counterfeiting (cheaply duplicating money out of nothing) over the years, resulting in the vale of the $100 being taxed through inflation, behind your back.