End The Fed Now
The most important thing we need to bring prosperity back to America would be to eliminate the Federal Reserve. Doing so would allow the federal government to quit borrowing money, reduce taxes and eventually pay off the entire national debt.
Instead of inheriting the largest debt in the history of the world, future generations would have a chance to prosper because they would not be forced to pay off the huge debt of previous generations.
The Federal Reserve is a massive debt machine, that has almost completely destroyed the value of the dollar and it has an horrible track record of incompetence. There are no good reasons to keep the present system in place. Our current debt based monetary system will inevitably lead to complete and total economic collapse. We need to make a change while we still can.
Right now, most Americans believe that the Federal Reserve is actually an agency of the federal government. The truth is that the Federal Reserve is about as “federal” as Federal Express is.
The Federal Reserve openly admits as much. The Federal Reserve stated in court that it was “not an agency” of the U.S. government and therefore not subject to the Freedom of Information Act.
So who does owns the Federal Reserve?
As the Federal Reserve’s own website says it is the member banks that own it….
The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation’s central banking system. They are organized much like private corporations–possibly leading to some confusion about “ownership.” The Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The stock may not be sold, traded, or pledged for a loan; dividends are, by law, 6 percent per year.
The debt-based monetary system established by the Federal Reserve has greatly enriched the big banks and the people that own them. This has been at the expense of the American people. A private central bank should not issue our currency, set interest rates and run our economy. Instead we need to return control over the currency to the American people where it belongs. This system has for the past hundred years dragged America through pain and desperation. Most of the reason for systemic inflation, high taxes, bubbles and crashes are the fault of this money system.