Complaint Review: Federal Reserve Bank - New York New York

The Federal Reserve Bank, also know as the Fed, The Federal Reserve, The Federal Reserve System, The Federal Bank, is ripping off the American public and has been doing so  from the time of its inception, 1913, and even before that. The central bank has been an infection in our nation since its birth. It just got legitimized in 1913 on the propaganda that it was needed to stabilize our economy and prevent future financial crises. This fiction, of course, became self-evident when the country fell into its worse ever depression in 1929.

THE FED IS THE PROBLEM

The Federal Reserve Bank, central banking, and fractal reserve banking MUST BE ABOLISHED if there is to be any chance of avoiding hyperinflation as occurred in Germany in 1923 (thanks to their central bank).

Contrary to the ignorant, albeit popular, belief, as found in IDIOT PUBLICATIONS like WIKIPEDIAs The Federal Reserve System, the Federal Reserve Bank was NOT spawned to protect our economy from inflation, boom/bust economic cycles, and other economic crises. The FED, with its fractal reserve banking, ACTUALLY CAUSES INFLATION AND ECONOMIC CRISES.

The sooner the American public realizes this, the sooner it will realize that all this pompous indignation and threats by our leaders to reform the banks is moot as long our government continues to collude with and validate the Fed's very existence.

LEGALIZED COUNTERFEITING CAUSES OUR INFLATION

The Fed practices fractal, or fractional, reserve banking. Simply put, this means:

1. The Fed can and does lend many, many times more the amount of funds than it actually possesses.

2. The Fed was instrumental in taking our currency off the gold standard, which means there is no longer anything of real value against which to measure the value of the paper money.

3. Without a gold or silver monetary standard, all previous restrictions to print money wantonly were removed. The Fed was given free license to PRINT AS MUCH COUNTERFEIT MONEY AS IT WANTED, and has done so for over the past 100 years.

Only counterfeiters benefit from their counterfeit money. Everyone else pays to real price, which is a currency diluted with phony money that devalues the buying power of the collective money pool.

EVER WONDER WHERE WE GOT A TRILLION DOLLARS?

The Fed now prints as much money as it and the US Government needs to pay off bad debts, such as other irresponsible Federal banks and colossal debt incurred by governmental reckless spending (typically on war). This counterfeit money gets injected into the economy and devalues our money's spending power by increasing prices. This is a hidden tax, and the only benefactors are the Federal banks and its associates, our US Government.

The Fed is allowed to practice this grotesque form of fractal reserve banking (lending money with non-existent or counterfeit money) because it supports our government's insatiable lust for recklessly spending our money.

The solution is simple, if not easy to manifest:

1. Abolish the Federal Reserve Bank and let all banks function or die on their own merit and sound or unwise business decisions.

2. Make the US Treasury reinstate the gold standard, and set the value of gold against the amount of money in circulation, which would translate into about $2000 per ounce.

3. Allow people to have their gold in exchange for their money is they so desire. This will prevent banks for any further temptation to practice their grotesque version of fractal reserve banking.

For more information, read The Case Against the Fed by Murray Rothbard. Visit, also, the Ludwig Von Mises Institute for related information.