The Federal Reserve System: Nearly a Century of Injustice

[fragile granite]

The Federal Reserve System:
Nearly a Century of Injustice

The power of belief is one of the most awesome determinants of human behavior there is, because if you control what people believe, you control them. This is exactly what our most powerful social institutions do. From religious to educational organizations, international and multi-media corporations, governmental and militaristic institutions, people are controlled by what these “experts” say. Each of these institutions started with the highest altruistic motivation to serve the common good. But it’s common knowledge that power corrupts and absolute power corrupts absolutely. Hence, the injustice occurs when the motivation of any social institution shifts from the honest and altruistic intention of serving the common good to the corrupt intention of serving the power and authority of the institution. In our modern society, the Federal Reserve System is the most corrupt example of injustice there is, but there are some potential solutions.

To understand the corruption, we need some historical background on how the Federal Reserve System came into being. Officially, the FED came into being on December 23, 1913 when President Woodrow Wilson, pressured by political and financial backers, signed the Federal Reserve Act into law (Petition). About six years after signing this law, Wilson is quoted as saying: I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the voice of the majority, but a government by the opinion and duress of a small group of dominant men. (Joseph)

The corrupt political and financial backers who pressured Wilson into signing the Federal Reserve Act are the small group of dominant men. The Federal Reserve System is a central bank which creates money from nothing. Then, having created this money out of thin air, The FED “sells” this paper money to the U.S. Government at face value plus interest. This practice has created a vast national system of credit (which Woodrow Wilson alluded to) as well as the burden of phenomenal national debt. The very name “Federal Reserve System” is designed to deceive. It isn’t “federal” and not part of the government at all. The FED is a privately owned franchise and therefore expected to make a profit for its owners (Griffin 23). There is no “reserve” because Federal Reserve Notes aren’t backed by anything of value (U.S. Treasury). The word “system” is designed to hide the fact that the FED is nothing more than a central bank (Joseph). Clearly, President Wilson regretted this act. And because of this act, our corrupted government has been lying to us ever since. To understand why, we need to understand money and why Federal Reserve Notes aren’t real money as defined by the Constitution.

First, we must consider who actually has the legal authority to create money and what the legal definition of money truly is. The Constitution of the United States of America is the defining source of authority for our government. Article I Section 8 defines the power of Congress-the legislative branch of our government. Among other things it states that [only] Congress “shall have the power…to coin money and regulate the value there of…and to provide for the punishment of counterfeiting the securities and current coin of the United States…” It goes on to say in Article I Section 10 that “no state shall…coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts.” The Founding Fathers were quite specific in this because they had firsthand experience in the way currency can be misused. In the early days of Colonial America, the Founding Fathers created a Central Bank which failed miserably. They learned by this firsthand experience that money must be backed by something of value. They also learned that the creation of a central bank which issues currency not backed by anything of value will inevitably become corrupt because it hold too much power and will cause rampant inflation, unmanageable debt, high taxes, widespread unemployment, and severe economic depression. “Governments and politicians do not rule central banks; central banks rule governments and politicians” (Townsend). People who do not learn from history are doomed to repeat it. By the specific wording in the Constitution about coining money, the Founding Fathers attempted to take steps to insure that a corrupt central bank which creates money from nothing could never happen again. Unfortunately, for modern citizens living in the United States of American today, it has happened again. We must learn from history.

Looking at a one dollar bill (which represents the lowest denomination of a Federal Reserve Note) one sees clearly the statement that “this note is legal tender for all debts public and private.” According to the U.S. Treasury website’s frequently asked questions “the Coinage Act of 1965, specifically section 31 U.S.G. 5103, entitled “Legal Tender,” which states: “United States coins and currency (including Federal Reserve Notes and circulating notes of Federal Reserve Banks) are legal tender for all debts, public charges, taxes, and dues.” Here is the crux of the lie which has been forced upon the American People, and by extension of global trade and commerce, the people of this entire world. Legal tender is another name for “fiat money.”

According to the book “The Creature from Jekyll Island” by G. Edward Griffin; The American Heritage Dictionary defines fiat money as paper money decreed legal tender, not backed by gold or silver. The two characteristics of fiat money are 1) it does not represent anything of intrinsic value and 2) it is decreed legal tender. Legal tender simply means there is a law requiring everyone to accept the currency in commerce. The two always go together because, since the money really is worthless, it would soon be rejected by the public in favor of a more reliable medium of exchange, such as gold or silver coin. Thus, when governments issue fiat money, they always declare it to be legal tender under pain of fine or imprisonment. The only way a government can exchange its worthless paper money for tangible goods and services is to give its citizens no choice. (Griffin 155)

As defined by the Constitution, legal tender fiat money is counterfeit by its very nature. This is exactly the kind of situation the Founding Fathers wished to avoid by giving Congress (and only Congress) the power and authority to coin money backed by gold and silver. And yet, the U.S. Treasury admits that “Federal Reserve Notes are not redeemable in gold, silver, or any other commodity, and receive no backing by anything” (U.S. Treasury). The U.S. Treasury goes on to state that “the notes have no value themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve Notes are “backed” by all the goods and services in the economy” (U.S. Treasury). This manner of fallacious circular logic is the crux of the gross injustice perpetrated upon the American People whose hard work and ingenuity creates all the goods and services in the economy.

Monopolies are supposed to be illegal. Because the FED is privately owned (and not part of the Government) it is subject to the laws which prohibit monopolies and the perpetrators should be punished in accordance with the law. Few people realize this, however, because we’ve all been programmed from an early age to believe the blatant falsehood that FRN’s are real money. Sadly, people currently have no choice but to submit to the monopoly of the FED by using worthless legal tender called Federal Reserve Notes instead of the real currency as defined in the Constitution. Hence, corrupt institutions use deception to promote injustice in order to consolidate the power and authority over the people they claim to serve. There have been many historical events of injustice which have been contrived to reinforce this belief.

One major historical event known as the Great Depression of the 1930’s was contrived for the purpose of consolidating the corrupt power and authority of the central bank monopoly called the FED. A huge problem which greatly affected the lives of millions of people was intentionally created in accordance with a specific plan. The name of this plan is called “bailout.” Congress was convinced by the private owners of the FED (who aren’t part of the government) to have the federal government guarantee payment of all the defaulted loans resulting from the stock market crash of 1929 that created the Great Depression. Congress was also told that if they did not agree to have the government (and by extension the taxpayer) guarantee payment of defaulted loans, great damage to the economy and hardship for the people would be the result. Therefore people are unjustly made to pay for the same thing twice. First, people pay interest on loans of money created from nothing resulting in profit for the bankers which we call the national debt, and then the taxpayer is made responsible to bear the cost of bailing out the banker’s losses through a hidden tax called inflation. While legal tender is money created from nothing, from the perspective of the FED, the debt is real. And the more FRN’s are created, the more worthless they become. Inflation is a direct result of borrowing money created from nothing. The private owners of the FED created the Great Depression for this purpose (Griffin, Townsend, Joseph). Again, we see the injustice in which the corrupt Federal Reserve System uses deception to exploit those it claims to serve because bankers don’t create wealth, they leech it from others. This gross injustice will continue as long as we allow it.

A more current example that this plan is still in effect is where Congress recently voted to bailout various investment banking firms in the amount of $700 billion. Again, people who don’t learn from history are doomed to repeat it. The Federal Reserve System was supposedly created to stabilize our economy (Griffin 20). However, given these two examples, there can be no doubt the FED has failed in its stated objective. Just like before, Congress has been convinced that unless they vote to bailout these various investment banking institutions using even more money created from nothing borrowed from the FED great damage to the economy and hardship for the people will be the result. Once again, this gives increased profit to the private owners in the form of interest on still greater national debt backed by the taxpayer.

In truth, it is the legal tender fiat money which is causing great damage to the national and global economy and untold hardship for people not just in the United States but all over the world. “A world banking system was being set up here…a super state controlled by international bankers…acting together to enslave the world for their own pleasure. The FED has usurped the Government” (Joseph: Louis McFadden). Not only has legal tender fiat money made indentured servants of us all, but we willingly pay the cost of our own economic slavery through interest and inflation. This is injustice on a global scale. We need a fair, just, and equitable solution.

Lastly, there are some potential solutions for this injustice. One potential solution to this gross injustice is to abolish the Federal Reserve Act of 1913. There is currently a petition which calls for this action. To U.S. Congress: This petition calls for the abolishment, by Congress, of the Federal Reserve Act of 1913 to return all the rights and profits from the creation of money to the rightful heirs the citizens and the U.S. Government. It is outrageous that private banks and the FED can create money and collect interest on it. If we must pay interest on monies created and loaned, let it be the United States of America that receives it, not some private interest. We have lost our freedom to the private banks that create money out of thin air and enslave the common man to a life of debt. If we are to be indebted, let it be to our country and not the bankers. (Towsend)

Perhaps an analogy might help to clarify this rather complex situation: sheep grow wool which a shepherd periodically shears. Then, having sheared the sheep of their wool, the shepherd sells this wool for a profit. No we aren’t sheep. We are human beings. But we do, in fact, allow the shepherds of the world to shear us of our wool in every way imaginable deriving great profit. We even pay them twice to do it!

We “own” our “wool.” We have the right to derive most of the profit from its sale. And there is no need to pay the shepherds of the world for the privilege of shearing our wool. In the same way, we “own” the hard work and ingenuity which creates all the goods and services in our economy (not the corporation we work for). Also, we “own” our government. It does not “own” us. Neither does the FED “own” us or our government. The time has come to abolish the Federal Reserve System. This is the first step in correcting the gross injustice which has been forced upon us.

The second step is something called the National Economic Stabilization and Recovery Act (NESARA): NESARA—A Proposed Bill
We must replace current monetary and fiscal policy with systems that benefit all, not just a favored few. That people urgently need a plan, a simple strategy to attack a multitude of troubles, perhaps the one offered at this web site. We introduce to you The National Economic Stabilization and Recovery Act (NESARA). The sponsors of this web site offer a new perspective about money and specific proposals for replacing the nation’s outdated monetary and tax policies, all designed to benefit you. This plan calls for general prosperity without sacrifice, not some complex redistribution scheme contrived as patronage for Washington power brokers and special interests. Best of all, the solution is written in plain language, not legalese (NESARA Institute).

By abolishing the FED and enacting NESARA, we take two big steps in correcting nearly a century of corruption, deception, and gross injustice which has been forced upon the American People and return the Constitution to the legal source of power and authority in our Government.

Works Cited

Cornell University Law School. United States Constitution. Article I Section 8. Section 10. Sept 08, 2008.

< www.law.cornell.edu/constitution/consti ... iclei.html >

Griffin, G. Edward. “The Creature from Jekyll Island.” American Opinion Publishing.
Appleton, WI. 608 pages. 1994.

Joseph, Peter. GMP-LLC. Zeitgeist-The Movie. 2008.
< www.zeitgeistmovie.com/main.htm >

NESARA Institute. The National Economic Stabilization and Recovery Act. NESARA-A Proposed Bill. Oct 10, 2008.

< nesara.org/bill/index.htm >

Townsend, Russell. Petition to Abolish the Federal Reserve Act of 1913. Sept 08, 2008.

< www.petitiononline.com/fedres/petition.html >

U.S. Treasury. Frequently Asked Questions. Legal Tender Status of Currency. Sept 03, 2008.

< www.ustreas.gov/education/faq/currency/ ... nder.shtml >

[Cybrweez]

I've yet to read your post fragile. But, I have this to say about this and the post in GW thread.

I'm aware of common person to ignore such conspiracies, or even ignore such ideas about major issues. There are times where I rail against such apathy, thinking they must realize the importance. Then, I find I'm in the same boat for other issues, and altho GW and something like the Fed are not 2 of those issues, I still find myself saying, do I really want to invest the time? I'm listening to a lecture about Modern Economic Issues, and the professor put it well, we don't spend the time to research the optimal number of spy satellites needed, b/c it would take a lot of time to find it out, and once I did, I wouldn't be able to do anything about it. That mindset is prevalent for alot of issues, like the Fed.

Wow, I'm rambling, I'm cutting myself off.

[fragile granite]

The above post is an essay I wrote for a junior level college English class. It is written in the "persuasive" style and I'd like to cordially invite the reader to keep an open mind on this topic. I'd also like to highly recommend the books "Creature From Jekyll Island"



or "Web of Debt."



Both have done their homework and explain the situation in much greater depth than my essay. A careful reading will give you an entirely different perspective on the whole financial bailout scenario.

[Avatar]

Well, I know nothing about your federal reserve, but I can tell you that of course money is imaginary. It's an idea that everybody agrees to abide by.

But I think that money which relies on concrete "backing" (such as gold) has been increasingly impractical for a long time. I certainly don't think we could return to the gold standard for example.

The person you really want in this discussion is Brinn...

Brinn!

--A

[ParanoiA]

It's a nice paper, but in my opinion misses the bigger fraud of fractional reserve banking, which is what creates the need for elastic currency in the first place - that's the culprit in the bank runs and instability. The federal reserve was created to establish a dynamic "lender of last resort" so-to-speak - a "reserve" of infinite cash to loan banks when falling below the 10% threshold - usually a result of a bank run brought on by a panic.

But that's only because we don't consider it a crime to claim to have Joe Blow's 100 dollar deposit on-demand when really we've loaned out 90 dollars of it. We are merely gambling that not everyone will want all of their money all at the same time. Banking runs and panics proved that to be a bad gamble.

I'm more inclined to see that as fraud. If you claim to have Joe Blow's 100 dollar deposit on-demand at any moment, then it ought to be there at every moment.

Full reserve banking would solve the bank run and panic issues without any need for any elastic currency, thus no need for a gigantuan reserve to be run and exploited by the government and rich bankers.

Why isn't that a preferred solution?



I did enjoy reading this piece though and made a couple notes as I went through it. A couple of ideas struck me, as I've struggled with my own theories of money and how it gets its value - which really all boils down to psychology, I think.

First of all, the Federal Reserve is only privately owned in terms of the 12 member banks, but shares control with the government. (The president appoints the members of the board of governors and the fed chairman and are subject to intense regulation.) This is a joint power structure that's scarier than either of them having sole control, if you ask me.

Second, you say it is circular logic to say that Federal Reserve notes are backed by all the goods and services in the economy due to legal tender laws - but isn’t that also the case with gold and silver? The word “intrinsic” could be used to cover up the hole in this logic because gold and silver only have value because we say it does. I would never admire gold except when you tell me how awesome it’s supposed to be and I see that everyone wants it. Same with fiat money. What gives gold and silver a free pass?

Third, is it not arguable that neither bankers nor government serve as a dependable, trustworthy steward over the creation of money? I don’t see the republic creating money as superior to private bankers creating money. Both will be irresponsible and corrupt. Imagine congress no longer having to worry about funding for ALL of their goofy projects and ideas. Inflation will still be rampant, and could even be worse considering the lack of a check on such of a system. Money will just devalue until it’s zero. At least bankers have an interest in deflation, as well as inflation.

[Brinn]

Fragile,

As Paranoia indicated, Gold is simply another fiat currency thus no better than our current fiat and likely much worse. Worse because a change to a gold standard would essentially amount to exporting our control of the money supply to South African gold miners. I'm not real keen on giving up sovereignity in exchange for the periods of rampant inflation and deflation that would result from a money supply that does not expand and contract in tandem with economic conditions but rather at the whim of a foreign country or entity.

Paranoia,
A full-reserve bank is a non-starter in a free market economy due to the credit crunch and economic stagnation that result. If every dollar of every deposit at a full-reserve bank must be kept on hand in the vault to pay out upon demand, where does the economy go for capital? What money would banks be able to lend? I'm not being facetious, I'd like to hear your thoughts on credit in a full-reserve system.

[Avatar]

Ja, these days it's probably the Canadians and Russians actually. Pretty sure we're no longer the biggest producers. Still high up, but not the biggest. And unless we find some new sources, or improve the tech quite a bit, our production is only going to drop further.

Also, we've sold a lot while it's still in the ground. (A practice that annoys me a little.)

money and how it gets its value - which really all boils down to psychology, I think.

Yep...like I said...it's imaginary...a consensual illusion.

--A

[fragile granite]

Avatar,

You're correct it is an illusion, which is precisely why I put the introductory paragraph in my paper.

ParanoiA,

The Fed doesn't share control with the government. It creates legal tender from practically nothing then charges the government face value plus interest to use it. The national debt is the profit derived from this hoax. This is the fraud. Fractional Banking is merely icing on the cake. Money backed by precious metals such as gold and silver, refered to as commodity based currency, would limit the amount of currency in the economy and any economic growth would be real because the system would be closed. In a properly managed closed system, inflation is almost non-existent.

Unlike now; having an open system based on debt instead of growth. Private bankers, who created legal tender fiat money from nothing, did so for the purpose of making a huge profit from those they claim to serve. The mentality is quite similar to organized crime; ie "gangsters." Hence, many people who are aware of this fraud use the term "bankster" to describe the organization of the privately owned international banking community.

The Federal Reserve System is a central bank created by (and subservient to) the international banking community. It is expected to make a profit for its owners. At no time does the Fed open its books to show how much profit. Since the bailout, television and mass media (pretty much owned by the same people who own the Fed) even clearly state this fact when discussing the Fed. The Founding Fathers knew by first hand experience what happens when a central bank is formed. Amschel Mayer Rothschild (founding father of the "Banksters" or "money changers" if you prefer) is quoted as saying "give me control of a nation's money and I don't care who makes the laws." Banksters are only interested in syphoning off the wealth of nations by exploiting its citizens in the name of profit.

Brinn,

I'm not real keen on giving up sovereignity in exchange for the periods of rampant inflation and deflation that would result from a money supply that does not expand and contract in tandem with economic conditions but rather at the whim of a foreign country or entity.

I agree! But this is precisely what has happened. The Founding Fathers made one mistake which has been shamelessly exploited by the banksters: Washington D.C. (the District of Columbia) IS a foreign country within the USA. Just like the Vatican is a foreign country within Italy. The banksters have used this legal loop hole to garnish the wealth of the people. All the laws created in Washington D.C. only apply to the people who live there. But the rest of us "murikans" have been duped into obeying these laws, using a foreign currency, and paying taxes to this country. Something we aren't legally obligated to do! Are you beginning to understand the scope of this fraud? It isn't a government based on constitutional law. It is a corporation based on corporate policy called "statutes." Each branch of the constitutional government has become subservient to the over-control of the Banksters. For the Banksters, going off the gold standard was a huge victory which enabled them to create legal tender fiat money and gain sovereignty over all branches of constitutional government. Think of it as an incredibly subtle yet cruel Ponzi or Pyramid Scheme.

"The illegal we do immediately. The unconstitutional takes a little longer."--Henry Kissinger



This is precisely what the gold trimmed flag proclaims though very few of us seem to be aware of it. Welcome to Amurika: land of the fee and the home of the economic slave!

p.s. Love is the only true currency and religion. Only when people realize this in their heart of hearts can they be truly free!

[Brinn]

The Fed doesn't share control with the government. It creates legal tender from practically nothing then charges the government face value plus interest to use it. The national debt is the profit derived from this hoax.

The Federal Reserve holds only a very small portion of the national debt. I don’t have an exact 2008 figure (I would guess less than 20% of the total debt) but I could probably look one up if you require confirmation although it would certainly take some digging. More importantly, almost 100% of all the interest payments received by the Fed Reserve are transferred to the US Treasury with the remainder going to fund Fed Reserve operating expenses. In summary, the net effect is that the bonds held by the Fed generate no net interest obligation for the Treasury.

Money backed by precious metals such as gold and silver, refered to as commodity based currency, would limit the amount of currency in the economy and any economic growth would be real because the system would be closed. In a properly managed closed system, inflation is almost non-existent.

Ahhh but the devil is in the details and in this case the phrase “properly managed closed system” glosses over those details. It would be like saying the answer to worlds energy problems is simply a non-polluting, renewable source of unlimited energy. On its face, it's true but accomplishing the goal is where the difficulty lies. If we were on a gold system our money supply would be subject to appropriate management by those countries who are producers of gold. Would you truly be confident that South Africans, Canadians, and Russians would not allow political considerations to interfere with what should truly be a purely economic exchange? What better way to limit US hegemony than the deflationary spiral that would surely ensue after a sudden tightening of gold supply during a time of US economic expansion. No thanks. I’ll trust the US citizens that make up the Fed Board of Governors much further than Russian dictators or South African despots. No offense Av!

I agree! But this is precisely what has happened. The Founding Fathers made one mistake which has been shamelessly exploited by the banksters: Washington D.C. (the District of Columbia) IS a foreign country within the USA. Just like the Vatican is a foreign country within Italy. The banksters have used this legal loop hole to garnish the wealth of the people. All the laws created in Washington D.C. only apply to the people who live there. But the rest of us "murikans" have been duped into obeying these laws, using a foreign currency, and paying taxes to this country. Something we aren't legally obligated to do! Are you beginning to understand the scope of this fraud? It isn't a government based on constitutional law. It is a corporation based on corporate policy called "statutes." Each branch of the constitutional government has become subservient to the over-control of the Banksters.

While I agree that the government has been partially captured by Wall Street via lobbying, and that banks that are considered “Too Big to Fail” should be broken up, I think you’ve gone off the rails a little bit in this last section here. And, in the interest of full disclosure, I’ll admit that I’m a banker.

[stonemaybe]

This thread reminds me of Terry Pratchett's Making Money - has anyone read it?

A blog somewhere reviews the book thus....

Making Money is the continued adventures of Moist von Lipwig, the con-artist who was bullied into going straight and re-establishing the Ankh-Morpork post office in Going Postal. The post office is now running like clockwork, and Moist is growing bored, doing stupid, dangerous things with lockpicks and climbing-gear just to convince himself that he's still bent.

But all that changes when he is put in charge of Ankh-Morpork's major bank, in charge of the city's thoroughly disordered monetary supply. Like The Truth, which recapitulates much of the true history of the early days of newspaper publishing as a comic fantasy novel, Making Money tells the tale of the difficult transition from the gold standard to an economy based on fiat currency. And, like The Truth, Making Money manages to extract an enormous amount of humor, pathos, and keen insight from the subject, especially through its use of well-drawn and well-realized characters (the secret to good comedy).

I'd forgotten how clever Pratchett's writing can be until I picked up this one. He does find an inventive solution to the problem of fiat currency, though it'd be a really really scary one for the the rest of the world if the US were to adopt a real-world equivalent....!

[Avatar]

This thread reminds me of Terry Pratchett's Making Money - has anyone read it?

That's exactly what it reminded me of too.

--A

[fragile granite]

Brinn wrote:

In summary, the net effect is that the bonds held by the Fed generate no net interest obligation for the Treasury.

Of course not. It would be like transferring funds from the right hand to the left. But it does generate (from the Banksters' POV) obligation of the face value plus interest for the taxpayer. And since the Fed isn't obligated to open its books for public inspection, people don't realize our representative govt is exchanging these bonds for money created out of nothing. Hence, the only way legal tender fiat money is created is by debt. All the bailout funds have greatly increased this debt. The interest and debt has built up through the years to such a high level that subsequent generations of taxpayers will not be able to pay it off. This is true generational theft.

Ahhh but the devil is in the details and in this case the phrase “properly managed closed system” glosses over those details. It would be like saying the answer to worlds energy problems is simply a non-polluting, renewable source of unlimited energy.

Agreed. But there are those who are working on those details even as there are those who are working on non-polluting, renewable sources of nearly unlimited energy.

If we were on a gold system our money supply would be subject to appropriate management by those countries who are producers of gold.

The US produces gold mostly from mines in the Sierra Nevada mountains. At one time, if I remember correctly, US ranked third in global gold production. So there would be no reason for this nation to be subject to management by other gold producing countries. US currency backed by US gold would create a true economy based on positive growth not debt. Banks (true banking not fractional banking) could not create currency greater than the value of the gold.

Perhaps this gold (and other things) is being used as collateral against the "national debt."

I’ll trust the US citizens that make up the Fed Board of Governors much further than Russian dictators or South African despots.

Perhaps a fourth branch of representative government is needed. The economic/financial branch which is subject to constitutional guidelines with duly elected board of directors who are subject to the will of We The People.

While I agree that the government has been partially captured by Wall Street via lobbying, and that banks that are considered “Too Big to Fail” should be broken up, I think you’ve gone off the rails a little bit in this last section here.

That isn't what I said at all, Brinn. It has very little to do with Wall Street lobbying. The Federal Reserve System isn't part of the government and neither is the IRS for that matter. The very name is deceptive. It isn't "Federal" at all. It's privately owned. There is no "Reserve" because legal tender isn't backed by anything. "System" hides the fact that it is a central bank; something the Founding Fathers tried very hard with the specific wording of constitutional guidelines to avoid. It has already failed since the stated purpose and charter of the Fed was to prevent financial problems like those experienced in 2008 and many other times since its inception. The books I've cited do a detailed job of explaining this in the interest of disclosure. They are not fiction. They are fully annotated and factual. The Federal Reserve System is an illegal monopoly and should be abolished. There is nothing to fear. My position is that people need to understand this despite the fact we've been programmed to believe otherwise.

[Avatar]

I missed this until FG quoted it.

...or South African despots. No offense Av!

Can't take any. I've been known to have despotic tendancies myself from time to time...

(But as a point of fact, we're not despotic yet. )

--A

[fragile granite]

Ever notice how the people of the Land didn't use money of any kind. It's true; they didn't even use the barter system. Their service to each other and the Land itself was so pure, especially in the First Chronicles, that the concept of money would most likely not have been comprehensible to them. Of much greater value to the People of the Land were the high principles of love, honor, and respect. People did what they most loved to do in service to the common good and the Land which sustained them. They and their economy prospered. Until Lord Foul came along anyway.

Earthpower, a nearly inexhaustible source of energy, was the driving force of their economy. Earthpower, in effect, was the love the Land demonstrated for the people who dedicated their lives in true loving service. Yes, it required years of study to understand how to use Earthpower. Study which became talent & skill; ie "Lore", that the people earned by right of attainment. At no time did the People of the Land pay any kind of monetary fee for the privilege of using Earthpower. At no time did they charge any fee for their application of Earthpower either. Sharing Earthpower was more important than material wealth and prosperity. Hence, the people and the Land itself were interconnected at a fundamental level. Service enables service.

Money (on the other hand) enables selfishness, greed, and a lust for material wealth & power over others. It is a source of Corruption no different than the Illearth Stone.

Notice the Lords of the Land gave the Unhomed a place of their own. Seareach. Notice the Seareach Giants gave the people of the Land a magnificent dwelling called Revelstone in return. Service enables service.

Would this have been possible if the institution of banking were part of the Land? Could we even put a price tag on the value of Seareach or Revelstone? If I were a banker, I'd probably "love" to make this kind of loan for my bank. It would be huge and derive great profit. What could be used as collateral for the loan? The ships giants came in and, of course, all their subsequent labor, as well as any goods and services produced while in the Land, would pay the interest on the loan first. Since the interest is compounded quarterly and they, in effect, are paying interest on top of interest. This would mean that many generations of Giants would be involved in paying back the principle of this loan.

The same applies to people of the Land. Since Giants are required to pay for Seareach, the People of the Land must pay for Revelstone in the same manner. And since my bank has created and holds deeds for these properties (all legal and properly notarized of course), neither the Giants nor the People of the Land "own" these properties until the loans are paid in full. Hence, money does not enable service. Money enables economic slavery and generational theft.

By comparison, Lord Fouls' attempts to corrupt the Land are crude. By hell, all he really had to do was to invent money and trick the people of the Land into thinking and believing it was a necessary tool in their lives. They would be paying him tribute in the form of interest on loans, inflation, taxes, and all manner of fees charged for using money created from nothing. In effect, the People of the Land would be paying for their own indentured servitude. Sound familiar?

Much like the teachings of the Clave corrupted the beliefs of the Land's People and disconnected them from their true history & heritage over the course of many generations, belief in the power of money has done exactly the same thing in our world.

All is not lost, however. All over the world, people are re-discovering love, honor, sharing, and respect. While it is still necessary to work within a corrupted system, people are none-the-less beginning to re-dedicate their lives in pure loving service to each other and to our land called Earth. People are beginning to re-discover our true history & heritage. It is truly wonderful to behold!

[Avatar]

Wow. Interesting post. Are you suggesting that we give up money and any material type of value system?

--A

[Vraith]

Wow. Interesting post. Are you suggesting that we give up money and any material type of value system?

--A

This would be sweet! But we'd have to change our entire biology/consciousness to value "ours" over "mine" and "care" over "power"

[Cybrweez]

Yea, and I wonder where these people all over the world are? Sorry, I'm a bit of a cynic.

But, bringing it home to the Land was interesting.

[fragile granite]

Avatar,

There is much I am suggesting for those with ears to hear and eyes to see.

Vraith,

You are quite correct. We'd have to change our entire attitude FROM service to self TO service to others where "mine" is replaced with "ours." And the use of power and authority over others is replaced with sharing with and caring about others. Most assuredly, this is difficult to do in a world which values selfishness above selflessness.

Cybrweez,

Seek and you will find.

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Despots are much like gangsters and no matter what you may have heard: there is no honor among thieves. It's about exploitation and oppression. Usually through fear. It is relatively easy to see despots in a Marxist society. Communism or fascism can also be called "state socialism." Despots control the state and the state controls its citizens by making citizens dependent on the state for everything ie food, shelter, clothing, health care, etc. Therefore, it may be said that "state socialism" is the left hand of oppression. Capitalism, on the other hand, is equally oppressive but far more subtle and there are just as many despots within capitalism, though admittedly, they are more difficult to discern. Capitalism can also be called "corporate socialism." As such, it is the right hand of oppression. Money was created to exploit the economic energy of the masses and serves both kinds of oppression. Each of these are much like two "Ravers" who do their best to serve "Lord Foul" by possessing those who are too weak to resist.

At each and every facet of life, we are being manipulated into giving up control of our own lives to either state or corporate control. Teaching citizens to be complacent and have an unswerving trust that both the state and corporate despots will act in the citizen's best interest (while hiding their betrayal of public trust under the guise of "national security") is part of this oppression. But "Lord Foul's" control is slipping. And like most despots who find their power is waning, they do not relax their grip. Instead, despots tend to tighten it under these conditions.

Within the Chronicles of Thomas Covenant, Lord Foul asserts that only those who hate are eternal. He is dead wrong. They do not suffice because they do not love. And this is what Lord Foul and his minions truly fear.

Throughout the context of the stories, both Thomas Covenant and Linden Avery learned to know and understand themselves and their dark side. They learned, not to hate their dark side, but to love it, accept it, and then integrate it into them self.

In the first chronicles, TC learned you cannot use the tools of evil to defeat it. Look what happened to LF at the end of the Power that Preserves. It wasn't wild magic that defeated LF; it was the energy of pure joy which proved anathema to him. It was a great lesson for Covenant who continued to apply what he learned in the second chronicles. He began to understand the Power that Preserves.

In the second chronicles, LA took TC's example and learned much. She has begun to understand compassion. In the first two books of the last chronicles, she applies compassion but has yet to apply mercy and forgiveness. I suspect that she will understand and apply these high ideals before the last chronicles is finished.

Joy, mercy, compassion, and forgiveness. This is the Power that Preserves and only these will suffice to defeat Lord Foul and his minions.

[Avatar]

Avatar,

There is much I am suggesting for those with ears to hear and eyes to see.

Well, we're not mind readers...if you're suggesting things, you have to sorta tell us what it is that you are suggesting.

Now, if you are suggesting that, what would be your alternative?

--A

[fragile granite]

Avatar,

Yes I know you're not mind readers, but I have clearly suggested many things on this thread. If you don't want to read them an alternative would be to watch Zeitgeist-The Addendum or Zeitgeist-The Movie. Here's the link. It takes about two hours to view either one in its entirety. They are definitely "over the top" but well done. The Addendum is probably more relevant to this thread than The Movie, however.

FG