Originally Posted by micky
The trick here from the FED is to print worthless fiat currency, force other countries to hold US$ reserves only (or mostly), import goods from other countries and pay with worthless $ and the best....to convert all this worthless money into tangible goods like land, houses, islands, businesses, precious metals, all commodities, waterworks, power plants, food, simply everything. So when they decide one day to induce a crash and a collapse of worldwide currencies then guess who will own everything and who nothing??
The Federal Reserve Bank is surely not federal but held by a conglomerate of around the 10 richest banking dynasties on this planet. They don't have any reserves to back the private FED Dollar. And it's not a bank, it's a private institution. The IRS is the longer arm of the FED. The IRS isn't federal either.
The IRS collects the money from all people of the country (you know income tax, all other taxes) and gives all this collected money to those private bankiers. This is highly illegal. The US government doesn't get a cent from those collected funds as the US government has to pay the FED for their money printing job. Look at your tax form, it will say something like Pay to FRB. FRB stands for Federal Reserve Board, thus the money goes directly to the private bankiers ;-) 1913 the FED has been created. Since then the US citizens had to pay income tax which they never knew before. This is against the US constitution and one of the biggest scams in the last 100 years. Not only in the US, this procedure described in short with the FED is exactly the same with all national central banks worldwide. All currencies are fiat money backed by nothing, even Switzerland was forced to give up as the last country its gold standard and the swiss francs is also not backed by gold anymore. It is only a question of time when the bankers will decide to let the bubble burst, this will happen when they have bought up almost everything on this planet. Then there will be a worldwide monetary reform. Greenspan has once incautiously mentioned that the US$ will weaken immensely until 2007 and that the US$ and the Euro could be merged to a Euro-Dollar currency. When this then happens - I truely hope that this never happens but the reality unfortunately is different - then the US can choose the devaluation, in other words the exchange rate for the new currency, e.g. 1 Euro-Dollar for every old 10 US$ or even 20 US$. This would mean that the US (and Europe) would reduce their debts by the factor 10 or 20 and peoples savings would also reduce automatically by chosen factor, mass poverty will be created and all people who can't pay off their mortgage the banks will take over their house. You see, that's why you should never buy things with borrowed money.