10 Things That Every American Should Know About The Federal Reserve

#1 First and foremost.......The Federal Reserve System Is A Privately Owned Banking Cartel and is not a government agency.
The FED is a privately owned central bank..... owned by the banks that are members of the Federal Reserve system,and is allowed BY LAW to operate in secret. We The People do not know how much of the system each bank owns, because of allowed secrets that have never been disclosed to the American people.

#2 The Federal Reserve System Is A Perpetual Debt Machine
As long as the Federal Reserve System exists, U.S. government debt will continue to go up and up and up.

#3 The Federal Reserve Has Destroyed More Than 96% Of The Value Of The U.S. Dollar
The U.S. dollar has lost 96.2 percent of its value since 1900lll Of course all of that decline has happened since the Federal Reserve was created in 1913. Because the money supply is designed to expand constantly, it is guaranteed that all of our dollars will constantly lose value.

#4 The Federal Reserve Can Bail Out Whoever It Wants To With No Accountability.
While The American people got upset about the bailouts that Congress gave to the Wall Street banks and to the big automakers, most had no idea that the biggest bailouts of all were given out by the Federal Reserve!
According to the results of the limited Fed audit (engineered by Ron Paul) a total of$16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010.

Here is a list of loan recipients that was taken directly from page 131 of the audit report….
Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
“All Other Borrowers” - $2.639 trillion

#5 The Federal Reserve Is Paying Banks Not To Lend Money!
Did you know that the Federal Reserve is actually paying banks not to make loans? Section 128 of the Emergency Economic Stabilization Act of 2008 allows the Federal Reserve to pay interest on “excess reserves” that U.S. banks park at the Fed. So the banks can just send their cash to the Fed and watch the money come rolling in risk-free.

#6 The Federal Reserve Creates Artificial Economic Bubbles That Are Extremely Damaging.
By allowing a centralized authority such as the Federal Reserve to dictate interest rates, it creates an environment where financial bubbles can be created very easily.

#7 The Federal Reserve System Is Dominated By The Big Wall Street Banks.

#8 It Is Not An Accident That We Saw The Personal Income Tax And The Federal Reserve System Both Come Into Existence In 1913.
On February 3rd, 1913 the 16th Amendment to the U.S. Constitution was ratified. Later that year, the United States Revenue Act of 1913 imposed a personal income tax on the American people and we have had one ever since Without a personal income tax, it it would be imposable to have a central bank. It takes a lot of money to finance all of the government debt that a central banking system creates.

#9 The Current Federal Reserve Chairman, Ben Bernanke, Has A Nightmarish Track Record Of Incompetence....in fact its so bad many believe he engineered the bubbles of the last decade...

#10 The Federal Reserve Has Become So Powerful that in government circles it is known as “the fourth branch of government”!
The Federal Reserve runs the U.S. economy but it is not accountable to the American people.....Ron Paul (Chair of the banking committee) once told MSNBC that he believes that the Federal Reserve is now actually more powerful than Congress…..