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Subject:Fed Up With The Fed: The Federal Reserve System and Homeschooling
  www.americanvision.org  
 
Wednesday, April 9, 2008   
 
 
Fed Up With The Fed: The Federal Reserve System and Homeschooling
by Dr. Richard A. Jones

Since the Fed is much in the news lately, here’s a handy citizen’s alert. According to our political betters, a “reserve bank” (i.e., a “National” bank as opposed to a competitive network of private, free-market banks) is needed to prevent inflation, minimize “boom and bust” cycles, and to make sure a nation’s economy runs smoothly. But few scams perpetrated on the economically dumbed-down could ever surpass the con job done on gullible Americans such as resulted with government passage of the Federal Reserve Act in 1913. Famously, the Fed’s abysmal performance in 1929–1931 lead straight to the onset of the Great Depression. Current chairman Ben Bernanke has even admitted that it did.

Popular wisdom has it that this agency will bail out troubled mortgage-holding banks, help avoid panic, save jobs, strengthen the dollar, save retirements, prevent baldness and “get the economy moving again.” But it can’t do any of these things; in fact, more nearly the opposite. Whether in nations that are 100% socialistic, or in the U.S. which comes close to being 80% socialistic, no economy can ever be anything other than third-rate if it is constantly harassed by a meddling government. And the Fed (12 big national FR banks and a board of directors) in direct collusion with D.C. government’s deficit-spending politicians, is but one of many tools of economic oppression. Good economies are possible only if a truly Free Market calls the shots; not an Oz-like cabal of career-focused Congressmen, power-driven bureaucratic regulators and assorted elitists at the Fed.

The crimes of the Fed and the story of the scoundrels who dreamed it up would fill whole libraries, and their constitutionally illegal actions in the current housing crisis are but an example. So here’s an introductory, 101 account of how the villainous Fed helps to dilute your incomes, savings accounts, and your future financial security. I’ll describe two of the more basic crimes the Fed permits so that you can grasp what a despicable concept this 100% audit-exempt, unaccountable to anyone, financial monopoly is. The two schemes relate to a deliberate increase in the supply of phony money (mere paper not backed by gold or silver) that is perpetrated for the government and against us. This revelation should jar you into studying further to get the full picture on your own.

Why was the Fed created and why is it still in business? Washington politicians always spend more money on the pork and free stuff they give away than tax returns permit. Naturally, these vote buying crooks can’t let this deficit get totally out of hand so the Fed was invented to create, out of thin air, the needed extra money. It’s sick and dishonest and method # 1 works like this: “Mr. A” (me) decides to open a checking account. I deposit $100 in bank # 1 and legally start writing checks on that full amount. Fed rules say that my bank must also hold 20% “in reserve,” while still allowing $80 of my deposit to be made available to loan to “Mr. B.” So borrower B, in turn, now opens a checking account for $80 in bank # 2 . He’s credited with the full $80 with $16 placed in reserve. Bank # 2 may now loan $64 dollars to “C,” keeping $12.80 in reserve. On and on this preposterous cycle of deceit goes. By the time we get to Mr. J and bank # 10, my original 100 green dollars deposited in bank # 1 have magically become nearly $500 of imaginary money in checking account potential. (See Prov. 16:11.)

If you think what you’ve just seen is “inflation” (lots of pretend, book entry, paper money backed by a zero gold or silver), then you’d be right. That’s one way inflation impacts your life these days at the grocery store. Remember that at times in the 19th century, paper dollars could be redeemed for 1/20th of an oz of gold—a small coin. Our paper money then tended to be “as good as gold” 

There’s a second scheme by which the Fed pulls new government spending money out of the hat. It happens once a month when seven FR bank presidents dressed in sumptuous black robes reverently peer into a hallowed crystal ball to find out what the “economy needs.” Voila!, the economy needs more money. So, the New York Fed bank “buys,” (with computer-generated IOUs) $100 Million of government bonds (Treasury Bills) or “securities” from a securities dealer. The NYF bank then credits $100 M to the dealer’s bank where 20% goes into reserve with the NYF. The dealer’s bank can now loan $80 M to, say, a certain industry. The $80 M, in increments, slowly finds it way to other banks. 20% is placed in reserve each time and the rest loaned out as earlier described. In the end, all the pretend reserves total up to $100 M and are returned to the Fed as “security” for the commercial bank loans. Eureka! By the time all this show-biz dust settles, $500 M of new pretend money will have gone into circulation based on the initial pretend amount of $100 M. Please understand that much of this “hot off the presses” Monopoly money is, early on, credited to the Dept. of the Treasury. As such, Washington gets to spend it first before it begins to lose value, as will have happened by the time the unbacked, fiat money filters down to your-town. The whole things is a sneaky plot, using the fancy-looking, mechanics of the Fed banking system to basically print as many paper dollars as needed to keep the pro-govt. anti-consumer, back-door swindle going. It’s counterfeiting. It’s embezzlement, and we just keep on letting it happen while thinking “they know what they’re doing.” You’re right: They do! But it’s all about them—not us.     

This simplistic but strategic exposé of the Fed would be wasted, without informing you as to how homeschooling enters the picture. It’s based on the generalization that our once great country is being seriously destroyed from within. The only reasonable way that political, financial, economic, foreign affairs and spiritual sanity can be restored will be via the efforts of the little kids (and adults to-be) who are being biblically discipled and trained at home. But only if in fact they are! We need a lot of them because there are a lot of problems. Only a well-rooted biblical worldview based on lots of memorized Scripture and thoughtful, experienced-oriented, on-the-ground training by mom and dad will serve to mold the leaders of tomorrow. Only these kinds of inspired children will reach levels of achievement that will result in the rescue initiatives this nation desperately needs.

Think back to my last two articles; “When I Get Big,” and the 8-year-old activist-to-be who wants to abolish pro-abortion laws. Similarly, we need that young man (or men) of tomorrow who will strive to abolish the unconstitutional Fed and work to bring back honest money; money fully backed by reserves of gold and silver. (Lev. 19:35–37, instructs, “You shall do no wrong in judgment, in measure of weight, or capacity. You shall have just balances and just weights.”) Enough, already, of “reserves” based on fictitious IOU bookkeeping entries, fiat money and outright political lies. Who better to lead the way than the Christ-honoring little ones you’ve trained and inspired?   

Dr. Richard A. Jones - contact: dickjones1517@sbcglobal.net
 



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