Federal Reserve bankers pushing the World towards another Great DepressionU.S. Tuesday, December 14th, 2010
As of December 14, 2010 over 43 million United States citizens (more than the entire population of Canada which is estimated to be 34 million) now rely on food stamp to feed themselves and their families. Over 26 million Americans are unemployed. 1.5 million Americans have lost their homes to bank foreclosures since January of this year. The United States isn’t in a recession, it is now in the midst of depression.
The World has been set on a course into a 1930s style depression by the United States Federal Reserve Bankers. They have started printing more worthless Federal Reserve Notes which they will flood the World markets with.
The privately owned Federal Reserve Bankers have begun to dispense hundreds of billions of dollars in the United States which World leaders fear will cause a cash flood and entail inflation for the World markets. World leaders are calling for the G20 nations to set up a new mechanism that effectively monitors the reckless actions of the Federal Reserve Bankers, especially when it is not able to carry out responsible currency policies.
Members of the G20 have stated that it is necessary for the Federal Reserve Banks to report to and communicate with the G20 group before it makes major policy shifts.
There has been widespread foreign condemnation of the Federal Reserve counterfeiting new Federal Reserve Notes that critics say will lower the value of the already-weak fiat currency which draws its value from the existing currency pool.
The critics say the Federal Reserve Banks in the United States has increased its counterfeit money supply at different times without any gold or silver backing for their Federal Reserve Notes, which has led to a substantial increase in inflation and generated more debt.
The bankers who illegally coin the United States money have pushed the World closer to another Great Depression by starting up their counterfeiting presses. The United States Constitution grants the coining of money only to the elected United States Congress. The U.S. Constitution – Article 1 Section 8 states that only – “Congress shall have Power To … To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; To provide for the Punishment of counterfeiting the Securities and current Coin of the United States. According to the United States’ supreme law no other person or organization is permitted to coin the money of the United States. As the printing of money by the privately owned and unelected Federal Reserve Banks is forbidden by US law all Federal Reserve Notes are deemed by US law as counterfeits. Any person or persons who counterfeits the legal US money is guilty of a federal offense and the elected United States government, particularly the United States Congress, is bound by the United States Constitution to punish any and all counterfeiters.
According to US law the bankers of the Federal Reserve Banks are criminals for they are counterfeiters. The United States Congress knows that they are illegally coining the United States money but have done nothing to stop this gross violation of the United States Constitution. Instead they stand by as the bankers begin their latest financial scheme they call “quantitative easing” which is just a synonym for “Great Depression”. A central bank implements quantitative easing by first crediting its own account with money it creates ex nihilo (”out of nothing”). All fiat money is created out of nothing: out of thin air. It is, however, fraudulently backed by all – the sum total of – the underlying value systems in an economy, namely sound governance, sound economic policies, sound monetary policies, sound industrial policies, sound commercial policies, etc. Annual inflation above the bank´s inflation target indicates the excess of fiat money created in the banking system. The central bank then uses the worthless (remember that the money is created out of nothing) counterfeits to purchase financial assets, including government bonds, agency debt, mortgage-backed securities and corporate bonds, from banks and other financial institutions in a process referred to as open market operations. The purchases, by way of account deposits, give banks the excess reserves required for them to create new money, and thus hopefully induce a stimulation of the economy, by the process of deposit multiplication from increased lending in the fractional reserve banking system. The process by which Federal Reserve Bankers inject their counterfeit paper into the banking system by way of account deposits is exactly the same process as criminals use to money launder dirty money. According to financial experts the Federal Reserve Banks’ quantitative easing will not create any new jobs. Quantitative easing will only cause an increase in inflation. Quantitative easing can trigger hyperinflation if it is improperly used, and too much money is created. It will most certainly fail if banks are still reluctant to lend money to small business and households in order to spur demands. In the context of a global market, home printed money can flood abroad and spark asset bubbles in developing economies. An increase in money supply in excess of what is required in an economy or monetary union has an inflationary effect by eroding the real value of each unit of the functional currency as well as the real value of the accounting unit of account. If devaluation of a currency is seen externally to the country it can affect the international credit rating of the country which in turn can lower the likelihood of foreign investment. With the U.S. Treasury depleted and interest rates already at zero, the Federal Reserve Bankers are putting the nail in the coffin for the United States by printing worthless Federal Reserve Notes and flooding the Global with it. The end result can only be another Great Depression as this reckless and intentional flooding of worthless Federal Reserve Notes will not only devalue the United States’ net worth it will have a global ripple effect by devaluing the currencies of foreign states.
As inflation rises the costs of living also rises and people won’t be unable to afford goods and the economy would fall into a recession. Eventually the inflation bubble gets too big (hyperinflation) and it bursts. The result is a severe recession and if goods cannot easily be sold or exchanged for cash without a substantial loss in value, a depression.
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