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The Federal Reserve

   There is no question about the federal reserve which does not eventually lead to the demise of the system and the need to replace it with another system for the well being of the economy and the country. Along with this reality comes the real question and that is what should replace it and the coinciding question about how it is to be accomplished.

The following nine points should be considered when replacing the Federal Reserve:

  1. Individuals and businesses could be credited with, or receive a refund of tax dollars or recover interest payments that would be used to directly pay down existing debt.
  2. All banks and financial institutions could be reorganized through a special bankruptcy procedure to eliminate unserviceable debt and derivatives. All banks will survive this process and will exit their bankruptcy with 10 to 1 fractional reserve ability, a level of leverage that is safe and will be capped by law.
  3. State balance sheets would be restructured and all states would create State Chartered Banks based on the successful model of the Bank of North Dakota. Additionally, these banks would assume the roles and functions formerly held by the 12 Regional Federal Reserve banks, thus decentralizing control but in a coordinated manner where all states would benefit proportionately and fairly. These State Chartered Banks would oversee and regulate the banking operations of the local banks operating within their state.

What is the Federal Reserve?   

  If one were to listen to the government or the Federal Reserve it would seem that the Federal Reserve is the fix for all economic woo’s and is this benevolent organization to support economic growth and currency stabilization. It was initially formed to provide maximum employment, stable prices, and moderate long-term interest rates and today includes conducting the nation's monetary policy, supervising and regulating banking institutions, maintaining the stability of the financial system and providing financial services to depository institutions, the U.S. government, and foreign official institutions.

  In reality it has never accomplished the tasks it was created to supposedly control. In fact it has probably contributed to provide more severe boom and bust economic periods than it has prevented.

  Having the monetary system being based on debt and creating money out of thin air means that eventually the monetary system must collapse.

   By looking at the financial crisis in countries such as Greece, Cyprus, Spain and Italy just to name a few it can be seen that centralized banking based on nothing but debt creates nothing but financial ruin for countries and individuals. Central banking has demonstrated that it is a flawed system when it was tried in the 1600’s , 1700’s, 1800’s and now in the 2000’s is collapsing again and demonstrating that it is not sustainable.

Money, Banking and the Federal Reserve

The Federal Reserve

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