They Print Money Out of Thin Air and We Pay Interest On It
by Rory Hall
So many people still live under the misguided idea the Federal Reserve is part of the government, part of the Treasury. The Federal Reserve is a private, off shore corporation owned and operated by and for the too big to jail banks. The Federal Reserve owns the Federal Reserve Note that is sold to the Treasury Department at interest. I can not offer a more simplistic explanation of the Federal Reserve.
Bill Posey, Republican Representative from Florida, recently questioned Federal Reserve Chairman Janet Yellen about being audited and transparency.
Mr. Posey also offered the simplest way to explain the Federal Reserve Note – “they print money out of thin air and you pay interest on it.” That is our currency. At my house we would call this either theft or fraud, the Federal Reserve calls it a business model. Think of it this way. I will hand you a stack of infinite Monopoly money, yes from the game Monopoly. Then you will give me actual, real currency, or gold or silver, for the privilege of me “loaning” you fake, worthless Monopoly money. You will also pay me interest for the “loan” at a rate of 0.75%. That is exactly how our currency system operates. Isn’t that a great scheme? Oh yeah, I will never pay taxes, nor any of my employees, while you bare the full brunt of the tax code.
Mr. Posey was questioning Yellen at a House Senate Finance meeting. Mr. Posey stayed on topic, remained focused and continually hammered on Janet Yellen about transparency, auditing and why the Federal Reserve fears their information getting out to the public. Mr. Posey offered examples of how Congress shares information, like national security issues, with the public but the Federal Reserve sees fit to keep everything secret. “Why is that?”
Mr. Posey: “Can you give me an example that would justify the lack of transparency?”
Janet Yellen: “Well, we don’t have a lack of transparency. ummm.”
Mr. Posey [interrupting]: “Well, you do if you can’t audit it.”
That is the avenue both parties traversed for 2-3 minutes. Mr. Posey asking pointed, specific questions about auditing and transparency and Yellen continually dodging, speaking in circles and never once offering an answer to the basic question – if everything is great, why not an audit?
“The Federal Reserve is one of the most transparent central banks in the world.” Janet Yellen.
That statement should terrify people around the world. If the Federal Reserve is “one of the most transparent central banks” what in the world is going on at the ECB, BOJ and all the other Rothschild owned central banks? My goodness, those central banks must never, ever provide any information at all to the citizens they have enslaved in their respective countries.
I have been hopeful that something would change within our system and we, the people that are alive today, would somehow be able to breathe free air once again. We have never tasted the sweetness of free air as 99% of the people alive in the U.S. were born under the Federal Reserve regime. A lot of people seem to think that cryptocurrencies and blockchain technology are going to some how create an alternative system. They will point to countries like Japan and Australia passing laws that allow bitcoin to be used as currency.
Personally, what I see are two vassal states of the U.S., especially Japan, grooming citizens to accept 100% digitized currency – of any stripe. The type of digital currency is not important, what is important is this digitized, 100% transparent technology – every move can be traced – becomes part of the landscape.
As the western world continues to slide into the economic and financial abyss, I foresee another systemic collapse making what happened in 2008 look like a rounding error on a ledger sheet. The banks, central banks and governments will not be able to contain what is happening. The only situation that will “save the world” will be a new currency – a digital currency, as all this paper money is only used by “terrorist” and “drug dealers”. viola!! The world is saved.
The Federal Reserve, the too big to jail banks and their enablers in Washington DC all derive their power and control from the counterfeit currency sold to the American people, at interest, by a privately owned, off shore corporation that is not allowed to be audited. What a scheme, what a scam!! My goodness and we just stand by and take it. Well, why does anyone think the game will change and these criminals, with vast amounts of power and technology that is probably 20-50 years ahead of what we use, why would these criminals suddenly roll over and hand over their power? They won’t.
Mr. Posey: “What do you fear about the audit? Give me a real time example.”
Janet Yellen: “So, I think the FOMC needs a space in which you can have honest conversation and deliberate in real time about the decisions that we make. um, Without having, um, political influence brought to bare and second guessing decisions we have made and opining on them possibily with the idea of reversing them.”
Allow me to translate that response from Yellen to Mr. Posey’s very simple, direct question. “If we don’t hide and keep everything secret the people will know this is a ponzi scheme and we will lose of our wealth and power.”
This system of theft and enslavement will come down. Personally, I don’t think blips-on-a-screen are going to do it – they may, but it will not be in the form of what we are seeing now. Will it look like Mr. Robot? Is Mr. Robot predictive programming? It sure looks like it. Two parallel digital currencies, with bitcoin being one of them, and a system that has been hacked and destroyed by a group of “anonymous” hackers?
Our system is going to crash and it is going to crash in our lifetime. The weight of debt is bearing down and the cracks in the system are beginning to show on a global scale. From my perspective it is only a matter of time. How we get out of this mess and move to another system is anybodies guess. It will either blow completely apart or will slip into the next incarnation and the people will become ever more enslaved. It will be our decision or lack of decision that will make the difference.
Other articles about Janet Yellen from The Liberty Beacon:
About the writer Rory Hall: Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don’t forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.