Check-Kiting by Another Name
But unknown to the public, at the end of the day the shills (the Federal Reserve banks) are obliged to hand over their gains to the casino owner (the United States Treasury). There is nothing open about what is euphemistically called “open market operations” of the Federal Reserve. It is in fact a covert conspiratorial operation. It has come about through unlawful delegation of power without imposing countervailing responsibilities. It was never authorized by the Federal Reserve Act of 1913. It defies the principle of checks and balances. It is immoral. It is the most lucrative business second only to highway robbery. It is a formula to corrupt and ultimately to destroy the republic.
Even though later amendments to the Federal Reserve Act retroactively authorized it, the constitutionality of open market operation has never been put to the test. It is clear that such an examination would not be in the interest of the conspirators, and they would use every means at their disposal to prevent it. The folksy name for open market operations is check-kiting, whereby two conspiring parties issue obligations that neither one has the intention or the means to honor but, when they come up for clearing, the phantom obligation of one party is covered with that of the other.
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[Proofreader's note: this article was edited for spelling and typos on May 22, 2006]
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How is anybody else doing? as I would like toi read this.
Ed Deak.
Works for me..........<p>---<br>RickW
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"I think it's important to always carry enough technology to restart civilization, should it be necessary." Mark Tilden
“Disenfranchised scum of the earth, rise! Put an end to the usurpation of power by the clique of impostors pretending to be monetary experts! Chase the money-mongers out of the temple! Cast your jail-keepers into the sixth circle of the seven in Hell, to which Dante confined all counterfeiters of money, perpetrators of false pretenses, and other tormentors of widows and orphans! Scientific truth is on your side! It is you, not your slave-drivers, who command the high moral ground! You can win a world free of yokes! The only thing you may lose is your shackles!
People of the world, unite!”
And I ask … “Will YOU heed the call?”
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The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing.... : Albert Einstein
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<a href="http://www.libertydollar.org/">http://www.libertydollar.org/</a><br />
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and in Calgary I use Calgary dollars as much as possible. <br />
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<a href="http://www.calgarydollars.ca/">http://www.calgarydollars.ca/</a><br />
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I own livestock that I use to barter with and I do not register those transactions or my livestock whenever possible, what I own is nobodies buisiness but my own. If anyone is interested in the fiat currency I recommend trying to get to a screening of Aaron Russo's film, From Freedom to Facism.<br />
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<a href="http://www.freedomtofascism.com/">http://www.freedomtofascism.com/</a><br />
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Anyone interested in radio that promotes freedom and liberty, I recommend Free Talk Live<br />
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<a href="http://freetalklive.com/">http://freetalklive.com/</a><p>---<br>My freedom is more important than your great idea.<br />
– Anonymous
I set down the definition of fiat money many years ago as:
"With bank deregulation money ceased to exist and became a licence for energy control, issued by a special interest sector for its own benefit."
I'm glad to see that more and more people are beginning to wake up to this fraud of colonizing with the perceived power of imaginary money.
Ed Deak.
Mike
Winnipeg
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— The Divine Symphony, by Inayat Khan<br />
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The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing.... : Albert Einstein
If you go to Google Video you will find what you are looking for. Check out these other great documentaries while you're there:
"The Money Masters" -- A history of the Federal Reserve.
"Orwell Rolls In His Grave" -- An excellent critique of the main-stream-media.
"The Corporation" -- Probably the best documentary ever produced about corporate greed.
I found it hard to stay calm watching this stuff. The truth hurts, but it is better to be informed about what is really going on in this miserable world.
A fellow slave.
If you want a good reliable money supply, you have to either keep banks under an iron thumb and limit their credit creation abilities or you have to outlaw fractional reserve banking altogether in favour of a 100% money style system where government, not private interests, controls the money supply. Along with that, there must be MANDATORY monetary theory classes in high-school explaining how fractional reserve banking works to ensure that nobody is ever suckered back into letting banks control the money supply.
Even without fractional reserve banking, commodity money is an exceptionally bad idea.
First, if you have a war and are forced to spend gold overseas, you shrink your money supply and cause a recession or depression. Same thing goes if you fall behind in manufacturing and end up being an importer nation. Sending all your gold overseas will deplete your gold reserves (or whatever the commodity is backing the currency).
If you gain a manufacturing advantage and end up a net-exporter of goods, you cause inflation as more and more gold is brought into the country.
As simple look through the monetary history of the USA shows that during times when bankers were NOT in charge of the money supply economies were stable and wealth gaps narrowed - the entire country prospered, not just the rich. During the times when bankers were in control economies were unstable, economic strife (poverty, homelessness) was rife throughout the country.
The point is, its not so much about WHAT the money is, its all about who controls it.