Federal Reserve Bank charges unnecessary fees to Americans.

by tonytran2015 (Melbourne, Australia).

#fiat money, #private #Federal Reserve Banks, #unnecessary fees, #questionable fees, #questionable dividends, #new money.

American people keep paying unnecessary fees to private bankers through Federal Reserve Bank.
Every year billion dollars of undeserved fees (or interests) have been paid to private bankers through the Federal Reserve Bank. This Federal Reserve Bank is actually a private bank, not a wholly owned branch of the US Government. There is no ground for using a private FRB and pay it billions of dollars every year.

1. USA need no one to back their newly printed dollars.

fiatmoneyc60.jpg

Figure: Fiat money relies only on the taxation power of its issuing government for its backing.

The said payment cannot be said for supporting (underwriting) the issuing of new US dollar notes. Indeed, the government of USA is a money sovereign. It can print as much fiat money as it likes (and bear the consequences). Its fiat money has value to American people because they have to use it to pay taxes to their federal and states governments.

(See references [1] and [2] for simple explanation.)

2. It is wrong for the Federal Reserve Banks to give interests on the fractional deposits of constituent banks.

There are 2 objections to paying such interests. They are:

2a. The deposits by the contributing constituent, private banks of the Federal Reserve Bank are part of their own effort to make themselves appear more liquid. They cannot demand any interest from the government on their deposits, just like airlines cannot demand government compensation on the costs of carrying their statutory reserve fuel on each flight.

2b. If everyone has to bear a near zero or negative interest, why are those constituent private banks exceptional ? They received 12 billion dollars in interest for the year 2016.

3. The private Federal Reserve Bank has no right to charge that much.

How much had the FRB constituent banks deposited to earn that 12 billions in interest for the year 2016? Is such interest of the same rate offered to most Americans when they buy into government bonds?

4. Past presidents have tried to undo the burden but two got assassinated while doing it.

Presidents Abraham Lincoln, Thomas Jefferson and John F.Kennedy had seen the unfairness of private bankers charging interests to the country and had tried to unshackle the burden on the country. Lincoln and Kennedy had been assassinated while Jefferson survived the assassination attempt. It is currently costing $40 per year per person for the US to keep using the private Federal Reserve Bank.

President Trump may do something about it if Americans protest loudly about it.

5. Americans should demand United States Notes.

A chilling history of private bankers gripping the US government system is given by reference [9]:

“Central bank usury control caused the US Constitution… to get their First Bank Of  The United States in 1791. … When their 20-year charter was up in 1811, the Jeffersonian Democrats prevented its charter from being renewed. So the Rothschild bankers summoned their mercenaries (the British army and navy) to teach us a lesson, the War of 1812. … they got their Second Bank Of The U.S., again with a 20-year charter. When Andrew Jackson was elected in 1828, the bankers tried everything to stop him; they created the 1833 recession; had him censured in 1834; and a failed (both guns misfired) assassination attempt on Jan. 30, 1835… Jackson killed the bank in 1836, … During the Am. Civil War, Abraham Lincoln created Greenbacks instead of the 24% to 36% usury the Wall Street bankers wanted to charge, and he was assassinated on Good Friday 1865. … 1913 the Rothschild bank got their …. Federal Reserve Bank. The Federal Reserve Act of 1913 originally had a 20-year charter. But … 1927, the McFadden Pepper Act was signed into law. It made the F.R.’s power over our monetary policy perpetual. . … 1963, President John F. Kennedy created United States Treasury Notes, known as Silver Certificates, with Executive Order 11110, and he was assassinated on Nov. 22, 1963.”

Rather than accepting the FRB Notes lying down, Americans should demand United States Notes (each with a red seal) issued directly by the Treasury just like those issued under Kennedy’s administration. Those notes had nothing to do with the FRB and America can save on the so called “interest” charged by FRB on any new money issued by US government and backed by its own taxation system.

Using the dollar notes with red seals (such as Five dollar with Red Seal Notes in series 1953 A through C, see picture in reference [6]) will save Americans $40 per head each year.

References:

[1]. Your fiat money, https://survivaltricks.wordpress.com/2017/01/09/your-fiat-money/

[2]. Your fiat money (Part 2), https://survivaltricks.wordpress.com/2017/01/12/your-fiat-money-part-2/

[3]. The-thirty-families-made-plans-for-a-future-without-you, theMicky.org, http://mikeyy.org/2017/01/30/the-thirty-families-made-plans-for-a-future-without-you/, originally by horse237, https://vidrebel.wordpress.com/2017/01/30/the-thirty-families-made-plans-for-a-future-without-you/

[4]. Stack Jones, The Banking Swindle-The History of Banking Fraud,  criminalbankingmonopoly.wordpress.com, https://criminalbankingmonopoly.wordpress.com/2014/02/20/history-of-banking/#comments, accessed Jan 2nd, 2017.

[5]. Federal Reserve System, wikipedia, https://en.wikipedia.org/wiki/Federal_Reserve_System, accessed Jan 2nd, 2017.

[6]. Five Dollar Bill Red Seal Series 1953 US Currency, Natural Web Solutions Inc.(US), https://www.collectons.com/shop/item/58107/Five-Dollar-Bill-Red-Seal-Series-1953-US-Currency#imgs58107

[7]. Us issues, Central banks alchemists of finance part iii-reblogging, http://us-issues.com/2017/04/05/central-banks-alchemists-of-finance-part-iii/, 03 April 2017

[8]. Dale B. Halling,  History of Central Banks in the United States, thesavvystreet.com, http://www.thesavvystreet.com, accessed 03 April 2017. 

[9]. http://rudolfhess.net/

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