Option (![[info]](http://l-stat.livejournal.com/img/userinfo.gif){kind=small} foulu) wrote in lurial, |
I am no genius at this nor do I keep updated with it, but the Federal Reserve is as Federal as Federal Express.
They're not really part of our "Government"; it's kind of a 'third party' side to our own government that issues 'bills' of credit.
It's actually against our constitution.
It's a system that shouldn't exist to begin with; and this is where I lack info/knowledge on.
Why do we have it?
Quoting FIAT Empire.
This banking system, in violation of the U.S. Constitution, creates endless amounts of paper currency out of thin air and then lends it to the government creating the national debt. Behind-the-scenes planners of the Federal Reserve System knew from day-one that they would have to lobby to instate an income tax to ensure interest payments on the national debt, thus the Fed and the Income Tax were both created in the same year, 1913.
They're not really part of our "Government"; it's kind of a 'third party' side to our own government that issues 'bills' of credit.
It's actually against our constitution.
It's a system that shouldn't exist to begin with; and this is where I lack info/knowledge on.
Why do we have it?
Quoting FIAT Empire.
This banking system, in violation of the U.S. Constitution, creates endless amounts of paper currency out of thin air and then lends it to the government creating the national debt. Behind-the-scenes planners of the Federal Reserve System knew from day-one that they would have to lobby to instate an income tax to ensure interest payments on the national debt, thus the Fed and the Income Tax were both created in the same year, 1913.
