Thursday, October 23, 2014

On its face—as lawyers say prima facie—this claim is absurd | Perception vs. Reality at the Fed


The Fed’s Paper Scrip is Money  >>  One day, scholars will look back and wonder at the madness of our era.

How could people come to believe that the Fed’s green pieces of paper, and electronic bank records referring to same, are money?

It is because the government says so. Carl Menger, founder of the Austrian School, begs to differ.

“Money has not been generated by law. In its origin it is a social, and not a state institution.”[1]

In fact, the dollar is not money. It is merely the Fed’s credit. On what basis does the Fed issue this credit? 

More precisely, what asset does the Fed finance by the issuance of this liability? The Fed buys Treasury bonds (and mortgages and other junk nowadays). The dollar is, for the most part, a bite-sized piece of the Treasury bond.

By happy coincidence (for the government, ever hungry to spend more), the Treasury bond is payable using dollars. There is a self-referential component. It’s the biggest Ponzi scheme ever perpetrated.

Money is the most marketable commodity. J.P. Morgan explained it succinctly to Congress, when he testified in 1912. “Money is gold, and nothing else.” To quibble slightly, I add silver to the shortlist ...


Chief Justice Alex Kozinski is the TOP at the Court of Appeals, NINTH CIRCUIT.  The "Judge" is of course not aware of the GREATEST PONZI SCHEME to own the USA.  Of course he is an "Israeli Firster", and this can be added to his HOLOCAUST SURVIVOR vita.

What are the American people to do?  Especially those that have been made into lesser than those that have decided to make the American people GOYIM for the harvesting of ?

Are there other 'ENTITIES' that control these criminally insane controllers called "PILLARS OF SOCIETY"!  What kind of pillar can hold a post that is nothing but, CRIMINAL FRAUD.  Well, the work of a few million more years may be IN ORDER, robed gavel tyrants and all their collection of unimaginative slaves to counterfeit "money".  ... to be continued ....]

1 comment:

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