The UK and the US have pulled off one of the biggest global scams ever and it's right under our noses, or more specifically, in our purses and wallets.
Money
The monetary system is confusing and maybe it's even made this way in order to hide what is really going on. What we should know that many of us don't know is that a big part of the money supply in the UK and US lies under "fractional reserve banking", known in the US as the Federal Reserve.
Have you heard of the Federal Reserve? If you haven't don't be misled by its name, it is neither federal government owned, nor has reserves.
Unsurprisingly, they don't want you knowing that.
It is in fact, the central bank of the US, or in less commonly used terms, a debt machine. The Federal Reserve is in charge of lending money to the banks, the thing about this money is that it is non-existent.
To explain how the money lent by the FED to the banks works, it goes like this.
The US government issues 'treasury bonds' to the Federal Reserve. The FED turns the bonds given to them into federal reserve notes, which are then traded into the banks who transfer them into paper notes, adding money to the US money supply. Money that is imaginary. But the money doesn't stop there.
Say the Feds gives a bank $10 billion dollars.
The bank must reserve 10% of that but is allowed to use the excess to fund loans to the people of the United States.
Say someone borrows this $9 billion, they would then deposit it back into the banks restarting the cycle.
10% is kept leaving 90% of that to loan out again. With the process repeating, 9 times the original loan is then created, out of thin air.
There will never be enough money in the world to pay back the debt, never mind the debt accumulated by interest. The population is enslaved by the very thing it needs to survive. Debt consumes them.
Debt created... by the Federal Reserve. The money lent out to the people gains interest which can cause bankruptcy, the foreclosure of homes and other financial tragedies for the public.
You'd think since this money is, pretty much counterfeit you'd be able to claim it was never a legitimate loan in the first place. Accusations like this are censored and beat down. Thus, the pyramid of power continues. New money will always be needed to cover the interest.
Right now, 3% of the US money supply exists in physical money, with 97% left digitally.
The last time there was absolutely no debt was 1835 when President Andrew Jackson shut down the central bank that came before the Federal Reserve.
Now, even Congress and The President are not allowed oversight into the Federal Reserve. It has never been audited despite a bill passing through the House of Representatives in 2012.
An audit would provide imperative insight into the private corporation that has so far been gifted little to no transparency. It has ultimately created money, money which isn't money at all. Money that is debt.
Former chairman of the Federal Reserve Ben Bernanke called upon the US lawmakers in 2013 to raise the federal government's borrowing limit. He insisted that raising the debt ceiling wasn't the same thing as generating new spending.
The debt ceiling has been raised 74 times since 1962. And there's something else. The more money banks generate to be used in the economy, the more the value of the dollar decreases.
Since the Federal Reserve was created in 1913, the dollar has lost over 95% of its value. As supply and demand grows and the more money is issued from nowhere, the more the dollar costs and the more everything we buy costs. This is inflation, the hidden tax on the public. Think about that.
One point that is often overlooked is as money is created as debt, the interest to pay the debt back is not created along with it. That means not everyone will be able to pay the debt back no matter how hard they work. Failure for some is built into the system. This allows the winners to profit at the expense of the losers and they can buy the assets of those who lose for pennies on the dollar.
The other overlooked point is that the debt has grown to such huge proportions that it becomes impossible to repay. There are not enough hours in a day to work to repay it. Soon our national debt will be unserviceable even if every person in the country worked 24-hours per day nonstop and turned over all of the money they earned. In fact, even if their children and grandchildren did the same, we couldn't pay it back. They have a word for that and it's called slavery.
The only difference is now the slaves pay for their own food, housing, healthcare, transportation and clothing and the slave owner profits from those sales too.
If the US dollar was eventually destroyed by the creation of non-existent money, the system will collapse. This makes an open path for a globalist run monetary authority to step in with promises of financial freedom.
In reality, power is handed over to the wealthy few and we are once again chained down by our need to rely on them.
Cryptocurrencies like Bitcoin, with its decentralization and predictable, deflationary creation rate, could offer an exit that would break the chains that debt-spiraling, centrally-controlled fiat money has on a society.
Outstanding post! This is the most serious problem that we face on our planet. The "Fed" should be abolished immediately. With all of the technology that is available fiat currency should be eliminated. Money is the root of all evil. We should convert to a resource based economy.
This video has a consise plan on how to accomplish this. Its a long video, but certainly worth seeing.
https://www.youtube.com/shared?ci=ftMPYFh1fZ8
☆☆☆☆☆😎
How can we not know that, when you and so.many others keep telling us?
Hahah ... So it happens ... But I have something different for you ... if you do not know Spanish. If you see my posts (2) you can learn some Spanish, because you already know what the images are about ... hahaha. Greetings.
(Sorry for my english)
I attempt to offer a basic solution outline in my new post.
Collaboration through critique and commentary are welcome, preferred and appreciated!
thoughts? https://dtube.video/#!/v/auraculus/i2xomvvc Jefferson ^^
Wow great explanation. No wonder why bitcoin makes more sense.
This is a brilliant post and thanks for sharing. Upvoted and tweeted. Stephen
Thanks
You are very welcome. Stephen
Disclaimer: I am just a bot trying to be helpful.
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Yes, yes! Thanks for taking the time to explain this @luzcypher. Incredibly important information especially is you live in the U.S. How this can go on any longer is beyond me.
https://dtube.video/#!/v/auraculus/i2xomvvc
Very informative post! Bitcoin and Steem will rock!
outrageous post my m8 ! i had a smiliar taught on my mind as well.
I upvoted. I'll read later and I'll most probably comment back. Thank you!
Cool, thanks
Cool post! We'll need to keep on keeping on with this topic.
Is there anyway to contact you in PM?
Look me up in steemit chat
Videos in spanish:
https://steemit.com/spanish/@ecodata/historia-presente-y-futuro-del-dinero-introduccion-y-la-estafa-bancaria-1-de-4
The banker who create de federal reserve also created de bolchevick revolution in russia who was the biggest genocide ever registred against mainkind
Excellent! The information was on point. I am so happy that we are starting to get into decentralized currencies. I'm also looking out for how these power players will try to control that as well...it may sound silly and counter-intuitive but you never know with these people