Happy Birthday... 100 years of FED

[Snailman]

On the 23rd of December 1913, the then president of the United States of America, Woodrow Wilson, signed the document creating the Federal Reserve System.

 

I have unwittingly ruined my country. A great industrial nation is controlled by it's system of credit. Our system of credit is concentrated in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world… no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men.

Woodrow Wilson

 

[hrc]

It still puzzles me how this privately operated central bank can go on about it's business and still be under the radar of public concern. It prints money and loans it to the US gvmnt. with interest, when US gvmnt under the constitutions has the power of printing it's own money without having to repay the principle, yet alone the interest.  The only good news is this 100 years old usurer is breathing his last breaths. As Peter Schiff said: Who lives by the QE dies by the QE.

Edited December 24, 2013 by hrc

[Snailman]

The FED is just one. The money printing and interest regulations are out of public control all over Europe, too. Believe it or not, the hungarian Minister of Finance has no right to give orders to or even to question the National Bank!! Its presidents is not responsible to the country by any means.