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Federal Reserve: World’s Biggest Debtor Will Dollar’s “Promise” Ever Be Paid?

Wednesday, March 1, 2017 8:18
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(Before It's News)

By Wayne Jett © February 27, 2017

     Wimpy of the classic Popeye comic strip had a standing offer: “I will gladly pay you tomorrow for a hamburger today.” A more apt depiction of the illusory promise in today’s Federal Reserve Note would be hard to find. When you accept a dollar “for work done today,” the Fed promises (hopefully) to pay you something worth a dollar, someday, but not today. That is the deal Congress made on our behalf with the law making the Fed note “legal tender for all debts, public and private.”

                                                    Fathoming Oceans of Debt

     Has the recent description of “debt slavery” published here begun to sink in? Perhaps not, so reiteration of the severity of our dilemma may be warranted. The Fed has been put into the position of being the only party authorized to buy the labor and work products of all Americans. What the Fed delivers initially for these goods and services costs no more than paper and ink to prepare “notes.”

     At least, that is all the “notes” cost the Fed until the time comes that the Fed must perform its promise to the holder of those notes to repay the real value received by the Fed for them. The Fed controls assets valued at trillions of dollars only because the Fed took the value of those assets from us in exchange for “notes” called dollars, thereby becoming the largest debtor in world history.

                                              Checking the Fed’s Credit Rating

     Normally when a business entity incurs significant debts, the creditors examine the financial condition of that entity very carefully. When creditors are numerous, credit rating agencies with special expertise examine the debtor and assign a credit rating according to very specific guidelines. One might think that a central bank like the Federal Reserve – authorized by law to buy all labor and any asset in the country on the strength of its “note” – would be subject to extraordinary scrutiny regarding its financial practices and ability to pay its remarkably large debts.

     But, if one thinks that is so regarding the Fed, one would be very wrong. No complete audit of the Fed, if one was conducted, has ever been made public. Congress has never done a complete audit of the Fed. Indeed, the Fed insists that no such audit will be permitted, and that it must have complete independence in conducting its affairs confidentially.

                                                 A “Trust Me” Special Entity

     Any other private financial institution with significant debts would be laughed out of existence for making such an assertion. The Fed is, indeed, a private financial institution, but certainly not just any private entity.

     The Fed is controlled and substantially owned by the international banks which, in turn, are controlled by a cabal of families. The same cabal controls the shadow governments of almost every nation in the world. The shadow government of the U. S., known since 1901 as the New Republic, also controls the mainstream media and much of the “deep state” and its black box operations.

     Regardless of how the Fed is owned and controlled, however, the dilemma of Americans now is clear and substantial. The Fed owes us (and holders of dollars worldwide) debts of great magnitude, but the Fed has no intention to pay us what we are owed.

     Since 1971, and especially since 2008, the Fed has been issuing “notes” to buy assets valued in sums totaling many trillions of dollars. Additional trillions of dollars in “notes” have been delivered, by some reports, to parties known to the Fed but not reflected in its published financial statements. “Quantitative easing” to “stimulate” the economy has been a threadbare cover story to disguise deliberate efforts to acquire as many assets as possible, while making the “dollar” notes less valuable and less likely ever to be paid.

                                                        The Bottom Line

     In these circumstances, the necessary path for the newly elected U. S. government is clear enough. The Federal Reserve should be audited with a sense of urgency. Assets of the Fed and its owners should be clawed back until the Fed’s dollar “notes” are repaid. A monetary system using real money, not fiat paper currency should be established consistent with the Constitution. But arriving at these conclusions is the easy part.

     The hard part will be accomplishing these objectives while simultaneously keeping the nation and the world functioning and reasonably peaceful. The ruling cabal must be relieved of their vast powers and ill-gotten assets. Some cabal members will not relinquish power or booty without a fight. But capable people are planning and acting to accomplish the objectives described above. Try to be ready to recognize and assist their goals where possible.

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