How The Federal Government Will Destroy the US Dollar

How the Federal Government Will Bankrupt America

The United States of America is the richest nation in the world due to two factors-available resources and an infrastructure that can develop those resources, yet each year our legislators and lawmakers on Capitol Hill continue to vote this country further and further into a deep and threatening deficit! The deepening debt threatens to dilute the buying power of the US dollar to the point of unsustainability. Just as in a post war Germany where a barrel of Deutsche Marks couldn’t buy a loaf of bread, the Federal Reserve Note is not actually anything more than an instrument of US debt used for transactions as it has no worth. The US dollar is not backed by gold, oil, silver, or any other form of tangible assets.

Fiscal irresponsibility

The Federal Reserve tasked with handling the US banking system operates on a completely fallacious principle known as fractional banking. In this flawed form of lending, transacting, and saving people’s money, banks adhere to a fraudulent monetary policy. Lending deposits of other people’s money to other customers and charging them interest while maintaining the lowest possible amount of liquidity (cash on hand) at 10% allows banks to utilize the money of their depositors to make more money as a type of collateral without the consent of the bank customer. The flawed practice also includes the way a bank’s actual net worth is established through using the loans made as a new asset rather than a potential liability.

Flawed formula

So, for instance when a bank makes a loan this is considered to be an asset creating more worth in the asset column of a financial statement instead of a liability since the bank makes interest on someone else’s money, not theirs, and then deceptively claims this as creating more net worth. Couple this with that fact that the Federal Reserve, a separate entity, from the US Government can create money out of thin air by simply using their computers to fabricate more credit that it loans to the US government that it will charge them interest on. The US debt is continually financed by the Federal Reserve and by selling US debt in the form of Treasury Notes in order to cover the shortfall of money taken in from tax revenue, commercial, income, utility, telecommunications, tariffs, interstate transportation, oil, gas, etc. With Americans and our business taxed more than any other society on earth our government consistently overspends for political purposes!

Outside of our borders

In a typical year the US government goes to foreign governments to buy 535 billion dollars in resources, goods, agricultural products, petroleum products and more that all can be manufactured here in America! This costs American jobs and all the supporting industry that producing these goods and resources domestically would require. It is estimated that America with enough clean burning natural gas could provide its own energy for 100 years. A recent petroleum exploration study found huge gas and oil reserves in the Rocky Mountains as well as the Gulf of Mexico. New geological surveys have found that gas, oil, and coal reserves exist under each state in the union in huge quantities! The question becomes, “Why are we still purchasing crude oil from the Saudis who even fund terrorism in the world?

 

A matter of untapped potential

An estimated 128 trillion in currently retrievable resources exist on or under American soil! Yet, with starving people in America we are still buying foreign goods and resources. That is not the worst of it. In 2017 the US federal government has given 50 billion in known foreign aid. This definition of “Foreign Aid” is very vague. Some claim it to be medicine for the sick, AIDS research, or food for those starving where there is wide spread famine. Yet, when uncovered we have found that there are not only questionable amounts of money going for ridiculous causes, but this monetary aid even goes to nations who are supporters of terrorism and are adversarial to US policy as well as being threats to National Security! Let us take, for instance, 150 billion dollars given to Iran that had been sanctioned for their violations in human rights and the support of terrorist organizations! Not only that, but we even paid them interest on that amount in 2016 under President Obama’s destructive foreign policy.

Wasting dollars

Domestically the Democrats regularly fund such useless causes as money to failing leftist magazines, programs, and shows due to the fact they cannot support themselves through the lack of interest from an American public that has no interest in Communism, Statism, Collectivism, and socialism though it is continually shoved down our throats by a leftist US media in its unholy alliance with those elements in the federal government! Why would our government be financially supporting such anti-American causes with the taxpayer’s money? Much of this goes unreported to American citizens.

Foe not friend

If one takes a look at what the private cartel we know as the Federal Reserve has done to the actual buying power of the US dollar we would be shocked. In 1913 a change in the US banking system occurred when the Federal Reserve Act handing control of the US banking system to a private cabal of families who established their vast wealth in Europe. &5 years earlier President Andrew Jackson had fought against a European Central Bank doing the same thing at that time. He destroyed them and made sure there was legislation that secured his wishes so that the financial control of our nation would never be in the hands of foreign entities who did not have the best interests of America in mind.

Revenue Act 1913

Under the questionable circumstances of 1913 during a Christmas break when Congress was out of session, former attorney for a number of wealthy families and current Secretary of State Philander Knox took a controversial and little known vote among the states that would legalize the Federal Reserve Act and its terrorist arm, the Internal Revenue Service. Witnesses and records indicate Knox took a vote at an intentionally inopportune time counting states that voted “Pass” as meaning not voting at this time to being for this toxic legislation. President Woodrow Wilson would later lament that he had allowed control of the nation’s banking to be passed into the hands of a few.

True results

The legacy of the Federal Reserve’s stewardship of US Currency in contradiction to the promises of US currency stability was the Stock Market Crash of 1929, the Great Depression in months after that, and the confiscation of gold by the federal government making it illegal to own. According to Norman Dodd, a young banking executive just out of college during the Great Depression who was commissioned by his Morgan Bank Managers to investigate the causes of the massive US economic failure, when he returned after a year’s research and gave his presentation his superiors were strangely disinterested. He was offered a cream puff desk job where he was promised that he would live a good life on a great salary and he could play tennis or golf anytime he wanted. Norman couldn’t be bought off so easily. When he asked his bank manager about it the Morgan Bank executive merely replied that the US banking system would never operate on sound banking principals again!

In Part II we will explore much more disturbing facts that will expose just how US monetary policy is exploited by powers most are unaware of.

 

 

 

Views: 45

Comment by koshersalaami on February 13, 2018 at 6:17pm

I won't comment on all of it but I can on some of it. 

To begin with, the US is already on track to become a net exporter of petroleum. You may not be aware of it, but the United Arab Emirates recently purchased oil from the United States! No kidding. It happened because the US makes a particularly light grade that they needed, they were getting it from Qatar, but they've had political difficulties with Qatar so they decided to buy it from us. 

A lot of foreign aid isn't given in cash, it's given in goods, which means the US buys the goods from American manufacturers and growers and gives that as foreign aid, meaning the jobs stay here. 

Producing way more petroleum would be a bad idea for two reasons. The first is the effect of burning more fossil fuels and the second is that renewables are the major growth industry. If we don't commit more heavily to renewables, the US will miss out on the growing industrial part of the energy industry which at the moment we're in a position to lead. And investing in coal would be even worse for both reasons. Keep in mind that every nation but us signed the Paris Accords, meaning they all want to invest in renewables. Do we want to provide them or not?

The deficit is coming from a few places, with the major ones being Republican. The occasional funding of liberal magazines may be reminiscent of William Proxmire's Golden Fleece awards, but they just don't amount to enough to worry about compared to the big stuff. The factors at work are first a rise in spending coupled with a reduction in revenue by lowering taxes on the portion of the population that has revenue. This is especially awful in the elimination of inheritance taxes. Why on Earth should guys who work be taxed more than people who inherit? And we can't afford to do that. We're leaving too much money on the table in order to pacify people who contribute to campaign contributions rather than taking the good of the country into account. Another factor is taking resources away from the poorest portion of the population. If America's businesses are to grow, they need a whole lot of American customers, and we are going in the wrong direction to increase the customer base. So many American businesses, like automobiles for example, do way worse when 40% of the population has well under half of one percent of America's wealth. We shouldn't be reducing inheritance taxes in order to stick it to this population, whom we need to be spending. And, in terms of deficits, if the poorer citizens had more money and spent it (they can't afford to hold it), that creates demand, which creates corporate profits and jobs, which in turn create more corporate profits and jobs. These jobs and profits mean more income for the Government, which is a great way to reduce deficits: instead of spending less or taxing more, we grow our tax base, which accomplishes the same thing while spreading prosperity. 

Comment by Maui Surfer on February 13, 2018 at 7:24pm

Doc, go mine some BitCoins ... and don't forget to pay taxes on em'

Comment by Doc Vega on February 14, 2018 at 5:43am

Kosher Obama added 10 trillion in deficit spending more than almost all combined past administrations! The Republicans stood by and let it happen using only token resistance! More taxation on a population already hampered just so the Democrats can buy more votes not to mention creating more debt through the welfare state and wanting to still create even more debt by approving DACA and financing more illegal aliens is not only idiotic but destructive beyond reprieve! The supposedly lost revenue of tax due to Trump's tax cut will be made up just as it was during REAGAN'S TIME with increased economic stimulus which is already happening! Trump has turned the US economy around and reduced unemployment to new historic lows! Also reducing to incredibly inefficient and unnecessary size of the Federal Fraternity of overpaid over benefited employees is another step in the right direction! The Democrats will fight Trump on every conceivable issue to the point of igniting a civil war in order to prevent the US from succeeding under Trump so they can be in power or to unseat him. The opposition to US prosperity by the Democrats and the left is both intentional and based upon the insanity of destruction if they can't rule! The Democrats had their shot and failed miserably! They don't want what's best for anybody only to be in power and they can only do that by buying votes through deficit expenditure and propaganda, but the loss of more than a thousand offices, minority in Congress, the only reason they're still in business is due to the RINO's who continue to vote alongside them. This almost proves that there really is no two party system anymore only the choice of destruction from a faster moving train (Democrats) or by a slower moving train (GOP).

As for the Paris Accords it's all about bringing the US under global government through the aegis of climate change and the resulting measures which would be more government regulation of the individual, higher costs of energy, and all nations submitting to the UN and it's Agenda 21 motive. The US can be energy independent and pollution controlled on it's own! I've been around the world and seen these shit hole countries big and small and none of them have environmental standards as good as the US while the UN continues to try and force America to adopt stricter standards while allowing Russia and China to continue their abuse of the environment! We have more clean burning natural gas than the rest of the world! Renewables will come along but at best they are only sporadic and not uniform all hours of the day or season. Remember that a car battery for an electric car has 30 times the carbon footprint of a clean burning gasoline engine car and there are more such drawbacks with other alternative energy sources such as the bird strikes recorded by the wind generating turbines that catch fire on occasion and require huge safety areas for collapse due to structural failure. All this can be eventually incorporated.

Comment by Doc Vega on February 14, 2018 at 5:49am

Maui, maybe bit coin is the wave of the future but it will take a lot of hits now and in the future and once you have converted a ton of money into bit coin especially after a huge adjustment where you investment has suffered devaluation just try and get your money back out of the system. You can't. It has a ways to go, but I like the fact that it operates outside the banking system and why the fuck pay taxes on it if it does! Taxes do nothing more than keep a corrupt banking system in power over us!

Comment by koshersalaami on February 14, 2018 at 6:49am

I’d love the US to be pollution controlled on its own but not under this President and not under this Congress. Pollution control is an area where the Democrats have undisputed superiority. We have a President who thinks global warming is a Chinese hoax rather than what it actually is: a phenomenon first documented by Exxon scientists in the 1970’s.

The Reagan administration did not result in rising real middle class income. 

The largest deficit spending we’ve seen lately has been Republican. The current budget is not Democratic. The difference between the two parties is Tax & Spend vs. Not Tax & Spend Anyway, starting with George W. Bush and his not raising taxes to pay for two wars. 

The Welfare State has a major economic advantage that Republicans tend to ignore: It puts money into the hands of people who don’t have it and whose spending of it leads directly to more jobs and greater business profits. The poorest 60% of America’s population has less than 4 1/2% of America’s wealth. The poorest 40% of America’s population has less than 1/3 of 1% of America’s wealth. If Welfare is what it takes to get spending money into the hands of this population, then Welfare makes economic sense. Remember that when poor people get money, they have to spend it quickly because they can’t afford not to. When you instead spend billions protecting the inheritance of Don Jr. and Eric, that money sits and doesn’t stimulate anything. It just provides more capital that isn’t invested in companies that hire people because those companies don’t have enough customers to be profitable because such a large portion of the population has so little money. It is invested instead in investments like bad mortgages which are bad because the population taking them out don’t have any money. We need money on the bottom of the economy and Democrats, albeit for non-economic reasons, are better at that than Republicans are. This is probably why, between Nixon and Obama, the deficit generally dropped during Democratic administrations but grew under Republican administrations, exactly the opposite of what you’d expect. 

If you’re going to talk about the cost of illegal aliens, you have to take the savings of illegal aliens into account. And there are savings. For one thing, they generally put more taxes into the system than they take out. For another, without the cheap farm labor of illegal aliens, food prices would be through the roof. Whether or not there's a net cost, the gross cost doesn't tell us what we need to know. It's only half an equation. If you ask what something costs, you also have to ask what not buying something costs. You can't assume it's free, any more than you can assume that failing to prevent or get rid of termites saves you money. 

Comment by Doc Vega on February 14, 2018 at 10:56am

Kosher stop listening to the Fake News networks the President knows like most people that these climate accords going on are for consensus and politics and have absolutely no power of enforcement. And As I have stated it's all about Agenda 21. We have 50 state environmental boards we don't need more regulatory red tape and bureaucrats trying to figure out what new fees need to be assessed. It;s a game of red tape and having unelected officials drafting draconian measures. I've known people in the government and they can tell you what a sham it all is!

Anyway, since LBJ's Great Society and the welfare state he created trillions have been thrown at the war on poverty and that war was lost as result of promoting dependency and fraud! Three generations of dependent Americans have been spawned by it. That money never sees the light as it falls into the black hole of government bureaucracy and feeds the biggest parasite you'll ever know in your life GOVERNMENT. As I said and statistics will bear out unemployment is at the lowest level it's been since 1973 for all races in the US. The Democrats have no soft place in their hearts for the needy they merely buy votes with welfare, food stamps, supporting illegal aliens, and refugees! This is because the ignorant, indoctrinated and the willfully dependent are the only ones who will support a socialist state. And that money you say that gets into the hands of the impoverished percentage comes out of the hands of the working class, and thanks to the policies of the Democrats for decades the Middle Class has been disappearing and is being converted into the 47 and a half percent that Romney spoke of. Where the hell do you get you information about deficits? The Democrats have created the biggest deficits beginning with FDR and it was he who wrote the executive order that confiscated gold from all US citizens! The only reason the mythical balanced budget supposedly happened under Clinton's watch was because Newt Gingrich and the Congress were GOP majority and they kept the idiot from establishing nationalized medical treatment! You suffer under this myth that when the government spends and taxes that it somehow gets back into the general economy but it doesn't it simply goes back into the black hole of government fraternity and programs that consume revenue. Thus, the government who does not have to compete with anyone creates an expansive, inefficient, and costly monopoly that the private sector could easily deliver at a lower cost with better quality using realistic accounting where the consumer has choices! Obamacare has been a failure and cost prohibitive for many people! Taking the single mandate off of it was the best way to kill it! Look at economics and accounting objectively and you will see that government is neither responsible or accountable.

Comment by Maui Surfer on February 14, 2018 at 11:39am

Vega- don't ever bother with your absurd Active Measure propaganda memes like Fake News to someone like Kosh who has 100 times the power to read between the lines than you ever will. You've been whitewashed, had your own herstory revised right in front of you and didn't even notice or say jack shit about it, and still think Area 51 is going to blow up the Southwest. Wake up Tejan!

Comment

You need to be a member of Our Salon to add comments!

Join Our Salon

NEW BLOG POSTS

Blue wave coming!

Posted by Dicky Neely on April 24, 2018 at 1:37pm 1 Comment

Jumping the Shark...

Posted by Safe Bet's Amy on April 24, 2018 at 9:00am 21 Comments

Dear Russell

Posted by Robert Starkey on April 23, 2018 at 10:00pm 2 Comments

"They Trust Me -- Dumb Fucks"

Posted by Boanerges on April 23, 2018 at 7:54am 16 Comments

A Brief History of America

Posted by Safe Bet's Amy on April 22, 2018 at 6:32pm 13 Comments

Book List

Posted by Steel Breeze on April 22, 2018 at 8:14am 11 Comments

© 2018   Created by lorianne.   Powered by

Badges  |  Report an Issue  |  Privacy Policy  |  Terms of Service