commentary: Federal Reserve Quotes (Part 5)
It is Fraud, A Money Making Scam
John W. Ritenbaugh
Given 01-Oct-11; Sermon #1069c; 13 minutes
Description: (hide)
John Ritenbaugh, continuing on the exposé of the Federal Reserve System, charges that the IOU (or credit operation) is designed to serve the bank rather than the people it is supposed to serve. Like the casinos in Las Vegas, it is based on many people going into debt in order for a few to prosper. The money it prints is fiat, based upon absolutely nothing real, but its value is determined by the unscrupulous lenders. The banks manufacture credit; it is based on nothing real. A dollar bill is simply a debt to the Federal Reserve System. The more money we borrow, the more money the Federal Reserve prints. The unscrupulous loan-sharks that control the Federal Reserve System need continuous borrowing to cover up the bare truth that our currency is based on absolutely nothing.
Topics: (show)
Banking system Deuteronomy 23:19-20 Federal Reserve note Federal Reserve System Irving Fisher Fractional reserve system Irving Fischer John Kenneth Galbraith Robert H. Hemphill Ill-designed system Lord Maynard Keyns
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