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Why has the US dollar devalued by 95 percent since the Federal Reserve was created? This has been caused by inflation. Perpetuating inflation is something that the Federal Reserve is very good at and something that has serious consequences for everybody in the future. This means today's hard-earned wealth will be worth even less tomorrow.
Nearly all Americans assume that the Federal Reserve is just another government agency that sets our interest rates and watches out for the best interests of the American people. It is really a private banking cartel which is systematically undermining America's assets.
How This Happened
On February 3rd, 1913 the 16th Amendment to the US Constitution was put into law giving Congress the "power to lay and collect taxes on incomes". Later that same year, the United States Revenue Act of 1913 was ratified which imposed a personal income tax on the American citizens. We have been subjected to these income taxes ever since.
Most people do not know that, also in 1913, the Federal Reserve Act was rammed through Congress on December 23. At that time, many members of the US Congress were home for the holiday. The President, Woodrow Wilson, signed it into law one hour after it was passed by the Congress! Someone was in a real hurry to sneak this law in.
Buried in this legislation was the granting of total power over the monetary policies of all US banks to the Federal Reserve. Also buried in this legislation was this phrase: "the right to amend, alter, or repeal this Act is hereby expressly reserved". What it did not say, though, was WHO this right was "reserved" for! This is where US monetary policies went straight to … you know where.
Did you know that the US Government also has absolutely no official control over the international operations of the Federal Reserve banks. The Federal Reserve banks are even exempt from any taxation!
Now the Federal Reserve has become so influential that it is often referred to as "the fourth branch of government". Although it has such a lot of influence, there are fewer checks and balances on the Federal Reserve than there are on any of the other 3 branches of government. The Federal Reserve has more power over the performance of the US economy than any other organization.
So each time more money is printed, additional debt is added on. The federal government delivers US Treasury bonds to the Federal Reserve, and the Federal Reserve only gives the US government "Federal Reserve Notes" (paper currency) in return. The US government lets the Federal Reserve generate dollars out of thin air with absolutely nothing backing their worth.
Then the US government borrows that same printed money from the Fed which increases the national debt as well as inflation. At the same time that this new debt is acquired by our government, the amount of interest that the US government is required to pay on that debt is also created.
It is not an agency of the Federal Government and is, as a consequence, not subject to the Freedom of Information Act. Overseas governments and foreign banks own considerable interest-bearing shares of our Federal Reserve system. Did you know that!
The worth of your dollars, availability of jobs, rates of interest for loans as well as the rate of home foreclosures are all determined by a small number of elite private bankers who manage the Federal Reserve. Now we are seeing more and more companies closing their doors because they can not survive in this economic climate.
The Numbers Do not Lie
> The US national debt increased by more than a trillion dollars for the fourth straight year in 2012.
> The US government added more to the national debt on the first day of fiscal year 2013 than it did from 1776 to 1941 combined.
> In the fiscal year of 2011, over 454 billion dollars that was taken out of our pockets in the form of interest payments on our national debt. That money goes into the pockets of wealthy individuals and foreign governments around the globe.
> The Federal Reserve was created in 1913. Since then, the US dollar has declined in value by over 95 percent. One dollar in 1913 is now worth about 4 cents in America today.
> The US national debt grew during the first four years of the Obama administration by about as much as it did from the time that George Washington took office to the time that George W. Bush took office.
> The US has lost more than 56,000 manufacturing facilities since 2001.
> The US is losing at least a half a million jobs to China every single year.
> Russia and China are both stocking up on gold like they have never done before.
> Germany and other countries are repatriating their gold away from central bank deposits.
> Many ultra-wealthy Americans and many of the most profitable corporations in this country and worldwide are paying little to nothing in taxes.
> According to the Swiss Federal Institute, a network of 147 mega-corporations control 40 percent of all the wealth in the world.
> Seven banks in the world have an influence over 80 percent of worldwide transactions. These banks loan money to smaller banks under them. Only one-tenth of the money that a smaller bank has is actually in the bank itself. The other 90 percent is loaned out to its customers who are paying interest on that money.
> There are nearly half a million employees of the federal government making over $ 100,000 a year.
Conclusions
According to Article I, Section 8 of the US Constitution, the US Congress had originally been given the responsibility to "coin money, regulate the value thereof …", but this is no longer the case. For some reason the Congress and the people of the United States have been seduced into losing this power that it was granted by the Constitution.
There is a lot more money being exchanged under the table, unfortunately, than most people are even aware of. The Bible says that the love of money is the root of all evil.
Thomas Jefferson once declared that if he could have added just one more amendment to the US Constitution it would have been a "ban on all government borrowing …". We should have done what he suggested. In this nation's lust for power and prestige on the world stage, it has fallen into the trap of borrowing money mainly for appearances sake.
This practice has to be stopped now before it is too late. We all need to get behind a movement of the people to force our government to make changes now. This movement can not be based behind any political party either. We no longer have a representative style of government. An effective movement must be based upon the Constitutional foundation of our country.
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Source by Robert Bradshaw