The federal reserve prints money backed by nothing
Well, you got one small aspect of the Federal Reserve correct. They do print money.
They also destroy money too.
It's called controlling the money supply. The rate which they print new bills is determined by the rate they destroy old and damaged bills, along with other factors, such as quantitative easing as an example.
Another factor they use to control money is to store it. If they want to lower the money supply that's outstanding in the world, instead of destroying good, reusable bills, they store it so when it comes time to reissue or increase the supply, they have a whole mess of good bills to circulate.
Not always. Quite often, they buy back old and damaged bills from banks, which is part of the monetary policy they have in place.
who then use the money backed by nothing to lend to consumers in loans with interest.
And what's wrong with that?
Basically double or triple or quadruple charging the consumer with the money they hold and the products they buy.
Incorrect. On so many levels.
How, in your mind, is the Federal Reserve "double charging" the consumer?
The likelihood of paying off the loan may never happen so it is then bought up by both the federal reserve and government who then tell the people they had a rough year economically so they have to raise taxes on them to pay back money that was backed by nothing.
Um...what?
Are you talking about the loan banks make to the Federal Reserve? Those are generally paid back within the year, as the Federal Reserve's lending practices are, by law, short-term (in other words, less than a year in term).
And even then, most banks don't even borrow money from the Federal Reserve. They don't borrow money
period unless it's something big like a bank run or some sort of economic crisis as such. The last loans the Federal Reserve issued for cases like this were back in 2009.
Central fractional reserve banking is Dishonest.
How? Why?
How? Why?
Interest in all its forms is Dishonest.
You still haven't even attempted to define interest. I gave you an easy assignment and asked you to define
simple interest and you still fail to do that.
Frankly, it's a concept that is well beyond you, and your lord and savior Alex Jones.
I will bring back interest free currency
All forms of currency is interest free. $1 today is going to be worth $1 tomorrow. However, the price of goods will be different. And that's not interest, that's inflation.
abolish the federal reserve bank. It has failed its mission statements since 1913 it will be struck down and the United States moving forward will be way better off for it as will the the rest of the world hear that this system of banking needs to go.
You have no clue as to banking systems. How can you destroy the fundamentals of today's economy by not understanding it?
You might as well destroy the transportation industry also, so nobody can get any more of their products, including food.
It's a shame that nations like Iceland are leading the charge for taking back there nation's financially and going after bankers in the same sentiment we will do the same which will be the end of the Rothschild banking families central banking dynasty.
Iceland is a special case where they pretty much forced, through legislation, the abolishment of loans for their residences and went after only a few key bankers during their panic. They were able to get away with such practices because of the type of economy they rely on, which is mainly local and tourist (tourism makes up 6% of their GDP, for example). Their way of life is much different than anywhere else in the world. Their hours of work per week is highest in the world (~80 per week average) and many citizens have multiple jobs. That type of productivity help lead into a greater tax revenue for the government which lead to their ability to pretty much lose all banks in their country. That will bite them in the *** in a few years though when their economic bubble bursts.
I will implement a Honest Sound banking system and recharter a State Bank similar to what we have operating in North Dakota in each of the 50 States
You mean the bank that runs more like a credit union than a bank? I mean, it's not a privately owned bank, it's a publicly owned bank by the state, and they have laws that state that the State of North Dakota can only hold accounts in that bank.
But it still runs like a private bank.
Actually, I just realized something. You are wanting to create communism in the US. You want
state owned businesses to only run in the US. You commie!
yes citizens can do their normal banking at those State banks unlike the Federal reserve today.
You still haven't got a clue as what the Federal Reserve does!
Now go ahead and disagree with everything i said kingnobody and continue to talk out your *** as you are well known to do have fun.
Sounds personal.