Currency In The United States

"Give me control of a nation's money and I care not who makes it's laws" -Mayer Amschel Bauer Rothschild. Rothschild makes a great point; the people of the United States have zero effect on their own currency. Not even the government has control over the production and distribution of its own currency. That control was given to banks and a private corporation named the Federal Reserve . These private institutions have created a cycle that enriches them and indebts the public. This vicious cycle needs to be terminated, or at least altered. In the USA as well as every other modern society, currency is created the same way; it all starts in the political level. A politician asks the people to vote for them so they can acquire more free things,
but there is no such thing as free, so the politician in essence votes/makes the country spend more than the income this is called deficit spending. The currency needed to cover this spending comes from the treasury in the form of a bond. A bond is like an IOU, for example lend us $100 and we will pay you back the $100 in 6 months plus interest. Now you see where the majority of the national debt comes from, that bond is needs to be paid by the people and their decedents. This process, “steals prosperity from the future so the government can spend it today"-Anonymous. Now is when the banks get involved, they come to the treasuries bond auction where they buy a potion of the bond and make profit by earning interest from it.
The bank then sells these bonds to the Federal Reserve, which has zero dollars in the checkbook they use to buy these bonds and then the currency appears into existence. The banks then go right back to the treasury and buy more bonds to repeat the process. A check is also an IOU, thus the banks are used as the middlemen and the Federal Reserve and treasury are just swapping IOUs. They are creating debt-based currency. As said before, our currency the process of taking money from the future, or money that has yet to exist, and spending it now. Banks profit from this cycle and indebts the public by increasing the national debt. Now the treasury takes this money and deposits it into various branches of the government, which spend this currency on public programs, war, health care
etc. When currency is deposited into the banks, by any entity, be it a business or a person, the bank practices fractional reserve lending. Fractional reserve lending is the process in which banks keep a fraction of a depositors deposit to lend out the rest. For example, from a $100 dollar deposit, $1000 dollars can be created with this system. Now imagine the whole population doing this, some even with deposits ranging in the millions. Here is where it gets even worse. All this currency created, the public works for it, in essence giving it value. Now after the public worked so hard, here comes in the IRS and takes some of that currency from the public and turns it over to the treasury so it can pay the Federal Reserve the principal and interest on the bond the Federal reserve bought with a checkbook with a zero balance, essentially they're committing fraud. Before the Federal Reserve there was no personal income tax but right after its establishment in 1913, the constitution was amended to allow personal income tax. The cycle came to be when President Woodrow Wilson signed the Federal Reserve act on December 23, 1913. The most powerful men at the time were bankers and others affiliated with the banks, for example J.P Morgan, Rockefeller, etc. These men caused the panic of 1907 and did everything in their power to sway the public to believe making the nations monetary system privatized was going to solve all the problems. "We are at the parting of the ways. We have, not one or two or three, but many, established and formidable monopolies in the United States. We have, not one or two, but many, fields of endeavor into which it is difficult, if not impossible, for the independent man to enter. We have restricted credit, we have restricted opportunity, we have controlled development, and 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 the duress of small groups of dominant men." - Woodrow Wilson. (From Woodrow Wilson)
If this cycle is not terminated we will never have, as was best said by President Wilson, "A government by free opinion, no longer a government by conviction and the vote of the majority," but we will maintain a "government by the opinion and the duress of small groups of dominant men." The people can, by trying to reinstate an executive order made by John F Kennedy, but later was removed, which prohibits the Federal from making the treasury pay interest on the bond it bought from the bank and also put silver certificated bills into circulation.
These bills were backed by silver so in practice one could trade the bill for some real silver. Although the bill will technically put the Federal Reserve out of business, the Federal Reserve is so powerful it will just find a loophole to survive. In essence, a revolution needs to take place in order to once again have a government for the people, by the
people. We can look to one of the only countries that have ridded themselves from the plague that is a privatized monetary system, Iceland. Iceland's people decided to instead of bailing out the banks with the people’s taxes, they would instead pay off loans for consumers and even forgave homeowner debt. They also threw prominent bankers into jail for trying to profit from the people. Probably most important of all, their constitution was amended to avoid entrapments of debt based systems and the main bank of Iceland was nationalized. “Why are the banks considered to be the holy churches of the modern economy? Why are private banks not like airlines and telecommunication companies and allowed to go bankrupt if they have been run in an irresponsible way? The theory that you have to bail out banks is a theory that you allow bankers enjoy for their own profit, their success, and then let ordinary people bear their failure through taxes and austerity. People in enlightened democracies are not going to accept that in the long run”- Iceland’s President, Olafur Ragnar Grimmson. (Greenstein, 2013) Thus we need to stand up as a nation and stop jailing our own people and begin jailing the real criminals. We need to create a system that is impossible for private profits, a system that serves the public.