19-06-2012, 05:20 AM
(This post was last modified: 19-06-2012, 05:46 AM by Adele Edisen.)
http://democracyforamerica.com/activitie...reform-now
I have aleady signed this petition because the Federal Reserve Banking System, a privately owned corporation for profit, has been responsible for the unstable economy we have had for almost 100 years. The current depression cannot be alleviated by the Federal Banks, the banks of last resort. Mr. Ben Bernanke of the Federal Reserve has already asked Congress to address this issue because the Fed Reserve is apparently unable to do so.
You should know that the US Constitution states that only Congress is allowed "to coin money," which means that only Congress may print and create money as legal tender. The Constitution does not mention any private enterprise as having this power, which the Federal Reserve obtained in 1913.
President Woodrow Wilson, who signed the Federal Reserve Act in 1913, later apologized to the American people for doing so:
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -- Woodrow Wilson
http://sociecity.com/rethink/the-fed-whe...-gets-lazy
Why did the writers of our Constitution nake Congress the only entity that could create or destroy money? Why not allow a privately owned entity to do this? Well, the Bank of England was established in 1694
and the colonists were burdened with heavy taxation which they paid to the Bank of England and had to use the English money as their legal tender. In addition, the East India Tea Company, a privately owned corporation requred heavy taxes on the tea they sold. The colonists had devised a money system of their own which they used in local transactions and it provided a stable economy for them. The American Revolution was born from these economic oppressions by the British.
"Taxation without representation is tyranny!"
Adele
I have aleady signed this petition because the Federal Reserve Banking System, a privately owned corporation for profit, has been responsible for the unstable economy we have had for almost 100 years. The current depression cannot be alleviated by the Federal Banks, the banks of last resort. Mr. Ben Bernanke of the Federal Reserve has already asked Congress to address this issue because the Fed Reserve is apparently unable to do so.
You should know that the US Constitution states that only Congress is allowed "to coin money," which means that only Congress may print and create money as legal tender. The Constitution does not mention any private enterprise as having this power, which the Federal Reserve obtained in 1913.
President Woodrow Wilson, who signed the Federal Reserve Act in 1913, later apologized to the American people for doing so:
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -- Woodrow Wilson
http://sociecity.com/rethink/the-fed-whe...-gets-lazy
Why did the writers of our Constitution nake Congress the only entity that could create or destroy money? Why not allow a privately owned entity to do this? Well, the Bank of England was established in 1694
and the colonists were burdened with heavy taxation which they paid to the Bank of England and had to use the English money as their legal tender. In addition, the East India Tea Company, a privately owned corporation requred heavy taxes on the tea they sold. The colonists had devised a money system of their own which they used in local transactions and it provided a stable economy for them. The American Revolution was born from these economic oppressions by the British.
"Taxation without representation is tyranny!"
Adele