Thursday, April 1, 2010
We Love Bernanke
Here at the Truth, we have a few favorite political figures. Hovering dangerously close to the top of this list is Chairman of the Federal Reserve, Ben Bernanke. Why do we love the guy who almost single-handedly bankrupted the country overnight? Well, because he makes it easy for those of us who don't have hours on hand to research corruption in our financial system. He just puts it out there for us. One might say he wears his corruption and lies on his sleeve.
Check out this video, and for those of you of the ADD generation, you can even cut it short by jumping to 1:20 and watching for exactly 2 minutes. Let me explain what is happening here. Ben Bernanke is head of the Federal Reserve Bank, or simply "The Fed". The Fed is a PRIVATE COMPANY that was put in charge of the issuance of our currency(inflation and deflation), as well as the setting of interest rates in 1913, via the Federal Reserve Act. Every dollar printed in the U.S. represents one dollar of debt to this private institution. This is where our domestic debt (~$30 Trillion) comes from.
What happens is this:
Fed takes our tax money via the IRS --> IRS gives tax money to the Fed by placing it into the Treasury (like the Fed's checking account) to pay off debt --> The Fed then loans that money back to our own government, or other governments at extremely high interest rates via secured treasury bonds.
In the event a government can't repay the debt (they never can), the Fed takes ownership of the country's natural resources and/or infrastructure (highways, electric, etc.). That country by all practical definition, is now property of the Fed. Yes, our country is owned by a private company.
Who owns the Fed?... Well I'm getting sidetracked here, the point is the Fed chairman (Bernanke) loaned out a half trillion dollars and can't recall where it went! Other videos, he simply refuses to tell what he did with it. At least he's not lying to us. And that's why we love him :)
"[The] Bank of the United States... is one of the most deadly hostility existing, against the principles and form of our Constitution... An institution like this, penetrating by its branches every part of the Union, acting by command and in phalanx, may, in a critical moment, upset the government. I deem no government safe which is under the vassalage of any self-constituted authorities, or any other authority than that of the nation, or its regular functionaries. What an obstruction could not this bank of the United States, with all its branch banks, be in time of war! It might dictate to us the peace we should accept, or withdraw its aids. Ought we then to give further growth to an institution so powerful, so hostile?" --Thomas Jefferson to Albert Gallatin,