The banksters are having a field day. These are professional grifters that run “major” banks in the United States. The primary grifter is the Federal Reserve, which true to America life, is neither Federal nor a Reserve. The last resurrection of the Fed was in 1913. I say resurrection because the Fed had been in existence through multiple forms and “charters” since very early in the America experiment: it is the third official “central bank,” and has many more unofficial roles under different names previously. Make no mistake it is a private institution that does not have any oversight.
Ron Paul pushed the famous “audit the Fed” initiative as part of his presidential campaign, and as part of his duties as a representative. This initiative was meant to grant oversight to the Fed. Primarily it would have “authorized the Government Accountability Office (GAO) to audit the Fed’s dealings with foreign governments and central banks, their discount window operations, reserves of member banks, securities, credit, interest on deposits and open market transactions.” Congress did not pass that bill even though the Dodd-Frank act found that the Fed committed over 16 trillion dollars to foreign banks and politically influential companies between 2007 and 2010.
Simply put the Fed is too big to fail, and there isn’t basic oversight on an institution that largely controls the monetary supply in the US. It also has a massive impact overseas, but that’s another story.
However, the Fed isn’t the only bank known for corruption. JP Morgan was fined nearly a billion dollars due to their manipulation of precious metals markets. Many in the industry viewed this as a slap on the wrist. Although JP Morgan said the individuals involved were no longer with the firm, no one lost their job or was personally held accountable over this massive fraud. JP Morgan’s actions are part of a continued stream of theft, manipulation, and dishonesty by the mainstream banks. In other words, there is no reason I call out JP Morgan, look up Wells Fargo creating accounts without customer’s consent.
The corruption of “private” banks, combined with the corruption of the Federal Reserve, and the overarching Federal government attempt to assert more control over citizens, is a very interesting combination. Recent legislation proposes to track all transactions over $600. For reference, currently all “suspicious” transactions, and all cash transactions over $10000 are reported to the Federal government. For what reason do they want to track transactions over $600? Do you frequently and repeatedly commit fraud while paying your monthly mortgage? The Federal government wants this power to gain more control. It has nothing to do with fraud.
The impact of the continued push by the Federal government into private lives, is that small banks, such as credit unions, will be forced out of business as the cost to comply with Federal law becomes larger than their profits. This will cause a consolidation of the already consolidated banks, essentially into one bank run by the Federal government although privately owned by law, but run by the Feds. Pure fascism.
What can you do? Become your own bank, eliminate all debt, and realize that every dollar is in fact a “Treasury Reserve Note” – an instrument of debt.