How Federal Reserve Bankers stole working people’s gold and silver deposits

[Toddsterpatriot]

There is also the fact that the Federal Reserve was largely to blame for the Great Depression, although neocon and liberal economists heatedly deny this fact and class it as a myth. Many neocon and liberal economists seek to blame the Great Depression on high tariffs (never mind that we had had high tariffs for decades) and/or on the gold standard.

Here is a good article on this subject on the Foundation for Economic Education website:

The Gold Standard Didn’t Create the Great Depression, the Federal Reserve Did | Germinal G. Van

The Fed didn't create the Great Depression. They absolutely made it worse.

During a Congressional hearing in 1937 Representative Binderup stated the following with reference to Henry Ford:

"It is perhaps well enough that the people of the Nation do not know or understand our banking and monetary system, for if they did I believe there would be a revolution before tomorrow morning."

JWK

That's just as impressive as if Bernie Sanders, Barney Frank or Maxine Waters had said that.

Oh come now. The obvious truth is, the Federal Reserve System is nothing less than a predatory money monopoly created by Wall Street Bankers, allowing its operators to freely consume, without cost, what America’s labor and industries have produced.

The Federal Reserve System, when stripped of its fancy terms and alleged necessity, is nothing more than a variation of the mob’s protection racket to get a piece of the action: you will use our Bank Notes as the only legal tender to transact your business, and you will pay interest for the privilege of renting these Notes.

JWK

“Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man’s field by the sweat of the poor man’s brow.”_____ Daniel Webster.

the Federal Reserve System is nothing less than a predatory money monopoly created by Wall Street Bankers, allowing its operators to freely consume, without cost, what America’s labor and industries have produced.

What does that even mean?

You never explained the rent you pay to use FRNs, where do you mail the check?

you will use our Bank Notes as the only legal tender to transact your business, and you will pay interest for the privilege of renting these Notes.​

I've got a $20 FRN in my wallet, never paid interest on it.
How much interest do you pay on your $20s?​

 

[Toddsterpatriot]

During the time period when the Federal Reserve was created back in 1913, America’s laboring class people ___ plumbers, carpenters, electricians, store clerks, janitors, etc. ___ were paid in gold or silver coins, a real commodity having intrinsic value, or, they were paid with various forms of Federal Reserve Notes, each of which could be brought to the bank of issue and exchanged for the Note’s expressed face value, in gold or silver “dollars”. . . real material wealth!

Keep in mind, if you have $20 in your bank account today, and withdrew it, and the bank had to give you twenty silver dollars, you would be able to consume approximately what $300 in Federal Reserve notes now allows you to consume. This gives you an idea of how much purchasing power a person has lost since the introduction of the Federal Reserve System. And that loss in purchasing power is the gain of bankers who have seized control over the issuance of our nation’s money supply.

Getting back to our nation’s money history, eventually, working people who deposited their gold or silver coins, or Federal Reserve Notes which declared on their face were redeemable in gold or silver coins, when withdrawing their money, were handed Federal Reserve Notes which had a very clever change. These new Federal Reserve Notes circulated by the banks no longer guaranteed to be redeemable in gold or silver coins. But few, if any of the working people, realized the new Notes were no longer redeemable by Federal Reserve Banks in gold or silver coin.

Eventually, the Federal Reserve Banks switched all incoming Notes which were redeemable in gold or silver coin with Notes no longer redeemable in gold or silver coins, and this is how the Federal Reserve System swindled the American People out of their gold and silver, and now, having swindled America’s working people out of their gold and silver coins, an honest medium of exchange, the Federal Reserve rents Bank Note script to the public to conduct their business while bankers now live large by a thieving Fractional Reserve Banking system. The following video will explain this swindling operation which allows bankers to live large and consume the productivity of America’s labor and industries by renting out Federal Reserve Notes.



JWK

"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

You've almost got it but not quite. What we have here is yet another insidious form of taxation whereby the goverment steals your value and worth past, present and future by inflation. Whatever you manage to save or earn is taxed by giving you less when you spend it than it was worth when you earned or saved it. In short it's simple theft.

Approximately 80 percent of money created under "fractional banking" is digital and takes form with a few keystrokes, and allows parasitic bankers to consume our wealth and live large by renting out this interest bearing digitally created imaginary money.

JWK

"We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it". — Congressman Louis T. McFadden in 1932 (Rep. Pa)

Approximately 80 percent of money created under "fractional banking" is digital and takes form with a few keystrokes

So what?

It worked exactly the same way under the gold/silver standard.

And it was just as corrupt and thieving as Fractional Reserve Banking. Issuing more "notes" than actual assets in reserve is the beginning of the swindling operation. This scam is nothing new. Another example is the Mississippi Bubble and John Law.




JWK

We are told the ”dollar” has lost its purchasing power over the years. But the truth is, Federal Reserve Notes have lost their purchasing power since their introduction as money, which are used by a notoriously evil banking scheme to plunder real material wealth created by America’s labor and industries.

Issuing more "notes" than actual assets in reserve is the beginning of the swindling operation.

You're confused.
Back in the old days, I could deposit $100 in good old gold coins at my local bank.
A new customer could come in and borrow $80 in gold coins.
No notes issued, no swindle at all.

You don't seem to have a grasp on what fractional reserve actually means, do you?

 

[johnwk]

There is also the fact that the Federal Reserve was largely to blame for the Great Depression, although neocon and liberal economists heatedly deny this fact and class it as a myth. Many neocon and liberal economists seek to blame the Great Depression on high tariffs (never mind that we had had high tariffs for decades) and/or on the gold standard.

Here is a good article on this subject on the Foundation for Economic Education website:

The Gold Standard Didn’t Create the Great Depression, the Federal Reserve Did | Germinal G. Van

The Fed didn't create the Great Depression. They absolutely made it worse.

During a Congressional hearing in 1937 Representative Binderup stated the following with reference to Henry Ford:

"It is perhaps well enough that the people of the Nation do not know or understand our banking and monetary system, for if they did I believe there would be a revolution before tomorrow morning."

JWK

That's just as impressive as if Bernie Sanders, Barney Frank or Maxine Waters had said that.

Oh come now. The obvious truth is, the Federal Reserve System is nothing less than a predatory money monopoly created by Wall Street Bankers, allowing its operators to freely consume, without cost, what America’s labor and industries have produced.

The Federal Reserve System, when stripped of its fancy terms and alleged necessity, is nothing more than a variation of the mob’s protection racket to get a piece of the action: you will use our Bank Notes as the only legal tender to transact your business, and you will pay interest for the privilege of renting these Notes.

JWK

“Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man’s field by the sweat of the poor man’s brow.”_____ Daniel Webster.

the Federal Reserve System is nothing less than a predatory money monopoly created by Wall Street Bankers, allowing its operators to freely consume, without cost, what America’s labor and industries have produced.

What does that even mean?

You never explained the rent you pay to use FRNs, where do you mail the check?

​

​

Already asked and answered!

As a taxpayer, Mr. Smarty Pants, your are indeed paying interest, or rent, on federal reserve notes your members of Congress have borrowed in your name.

The current annual rent is about $389 billion which you will be taxed to pay.

Aside from that I believe John Adams was speaking to you when he wrote:

All the perplexities, confusions, and distresses in America arise, not from defects in the Constitution or confederation, not from want of honor or virtue, as much as from downright ignorance of the nature of coin, credit, and circulation.

JWK

 

[danielpalos]

...the right wing is being disingenuous if they don't have any problem with cryptocurrencies.

 

[Toddsterpatriot]

The Fed didn't create the Great Depression. They absolutely made it worse.

During a Congressional hearing in 1937 Representative Binderup stated the following with reference to Henry Ford:

"It is perhaps well enough that the people of the Nation do not know or understand our banking and monetary system, for if they did I believe there would be a revolution before tomorrow morning."

JWK

That's just as impressive as if Bernie Sanders, Barney Frank or Maxine Waters had said that.

Oh come now. The obvious truth is, the Federal Reserve System is nothing less than a predatory money monopoly created by Wall Street Bankers, allowing its operators to freely consume, without cost, what America’s labor and industries have produced.

The Federal Reserve System, when stripped of its fancy terms and alleged necessity, is nothing more than a variation of the mob’s protection racket to get a piece of the action: you will use our Bank Notes as the only legal tender to transact your business, and you will pay interest for the privilege of renting these Notes.

JWK

“Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man’s field by the sweat of the poor man’s brow.”_____ Daniel Webster.

the Federal Reserve System is nothing less than a predatory money monopoly created by Wall Street Bankers, allowing its operators to freely consume, without cost, what America’s labor and industries have produced.

What does that even mean?

You never explained the rent you pay to use FRNs, where do you mail the check?

​

Already asked and answered!

As a taxpayer, Mr. Smarty Pants, your are indeed paying interest, or rent, on federal reserve notes your members of Congress have borrowed in your name.

The current annual rent is about $389 billion which you will be taxed to pay.

Aside from that I believe John Adams was speaking to you when he wrote:

All the perplexities, confusions, and distresses in America arise, not from defects in the Constitution or confederation, not from want of honor or virtue, as much as from downright ignorance of the nature of coin, credit, and circulation.

JWK

As a taxpayer, Mr. Smarty Pants, your are indeed paying interest, or rent, on federal reserve notes your members of Congress have borrowed in your name.

You think Congress borrows FRNs when they buy a weapon system or build a dam or road? LOL!

But I was more interested in the FRNs in my wallet. I didn't borrow them, why would I pay interest on them?

You must borrow your FRNs, to what Federal Reserve address do you mail your interest payments?

Try to focus.

 

[Natural Citizen]

You must borrow your FRNs, to what Federal Reserve address do you mail your interest payments?

The IRS, also created in 1913 with the Federal Reserve, is the Federal Reserve's collection wing. They collect and turn the fruits of our labor over to the Treasury so that the Treasury can pay the principal plus interest on that bond that the Federal Reserve bought from a bank with a check which is drawn on an account that has nothing in it. The banks, of course, bought the Treasury bonds (our nation's debt) at the bond auctions the government holds in order to auction of our nations debt.

 

[NightFox]

During the time period when the Federal Reserve was created back in 1913, America’s laboring class people ___ plumbers, carpenters, electricians, store clerks, janitors, etc. ___ were paid in gold or silver coins, a real commodity having intrinsic value, or, they were paid with various forms of Federal Reserve Notes, each of which could be brought to the bank of issue and exchanged for the Note’s expressed face value, in gold or silver “dollars”. . . real material wealth!

Keep in mind, if you have $20 in your bank account today, and withdrew it, and the bank had to give you twenty silver dollars, you would be able to consume approximately what $300 in Federal Reserve notes now allows you to consume. This gives you an idea of how much purchasing power a person has lost since the introduction of the Federal Reserve System. And that loss in purchasing power is the gain of bankers who have seized control over the issuance of our nation’s money supply.

Getting back to our nation’s money history, eventually, working people who deposited their gold or silver coins, or Federal Reserve Notes which declared on their face were redeemable in gold or silver coins, when withdrawing their money, were handed Federal Reserve Notes which had a very clever change. These new Federal Reserve Notes circulated by the banks no longer guaranteed to be redeemable in gold or silver coins. But few, if any of the working people, realized the new Notes were no longer redeemable by Federal Reserve Banks in gold or silver coin.

Eventually, the Federal Reserve Banks switched all incoming Notes which were redeemable in gold or silver coin with Notes no longer redeemable in gold or silver coins, and this is how the Federal Reserve System swindled the American People out of their gold and silver, and now, having swindled America’s working people out of their gold and silver coins, an honest medium of exchange, the Federal Reserve rents Bank Note script to the public to conduct their business while bankers now live large by a thieving Fractional Reserve Banking system. The following video will explain this swindling operation which allows bankers to live large and consume the productivity of America’s labor and industries by renting out Federal Reserve Notes.



JWK

"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

You've almost got it but not quite. What we have here is yet another insidious form of taxation whereby the goverment steals your value and worth past, present and future by inflation. Whatever you manage to save or earn is taxed by giving you less when you spend it than it was worth when you earned or saved it. In short it's simple theft.

Yes AND due to the distribution effects of inflation it's a highly effective way to transfer wealth from the bottom to the top of the economic ladder. Those that can borrow vast sums of money at low real rates (the WEALTHY) in an inflationary environment benefit from a purchasing power transfer from creditor to debtor.

The federal reserve system, a system designed by the wealthy to primarily benefit the wealthy.

 

[Toddsterpatriot]

You must borrow your FRNs, to what Federal Reserve address do you mail your interest payments?

The IRS, also created in 1913 with the Federal Reserve, is the Federal Reserve's collection wing. They then turn it over to the Treasury so that the Treasury can pay the principal plus interest on that bond that the Federal Reserve bought from a bank with a check which is drawn on an account that has nothing in it. The banks, of course, bought the Treasury bonds (our nation's debt) at the bond auctions the government holds in order to auction of our nations debt.

The IRS, also created in 1913 with the Federal Reserve, is the Federal Reserve's collection wing.

Excellent!

I have a $20 FRN in my wallet. How much does the IRS charge me for that $20?

They then turn it over to the Treasury so that the Treasury can pay the principal plus interest on that bond that the Federal Reserve bought from a bank with a check which is drawn on an account that has nothing in it.

The Treasury pays principal and interest on all Treasury debt, right?
They pay on my T-Bills as well as T-Bills owned by the Fed.
What does the Fed do with their profit at year end?

 

[johnwk]

...the right wing is being disingenuous if they don't have any problem with cryptocurrencies.

All those who do not have a problem with imaginary money are being disingenuous, or are totally ignorant and part of the "woke" crowd.

JWK

"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

 

[johnwk]

During a Congressional hearing in 1937 Representative Binderup stated the following with reference to Henry Ford:

"It is perhaps well enough that the people of the Nation do not know or understand our banking and monetary system, for if they did I believe there would be a revolution before tomorrow morning."

JWK

That's just as impressive as if Bernie Sanders, Barney Frank or Maxine Waters had said that.

Oh come now. The obvious truth is, the Federal Reserve System is nothing less than a predatory money monopoly created by Wall Street Bankers, allowing its operators to freely consume, without cost, what America’s labor and industries have produced.

The Federal Reserve System, when stripped of its fancy terms and alleged necessity, is nothing more than a variation of the mob’s protection racket to get a piece of the action: you will use our Bank Notes as the only legal tender to transact your business, and you will pay interest for the privilege of renting these Notes.

JWK

“Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man’s field by the sweat of the poor man’s brow.”_____ Daniel Webster.

the Federal Reserve System is nothing less than a predatory money monopoly created by Wall Street Bankers, allowing its operators to freely consume, without cost, what America’s labor and industries have produced.

What does that even mean?

You never explained the rent you pay to use FRNs, where do you mail the check?

​

Already asked and answered!

As a taxpayer, Mr. Smarty Pants, your are indeed paying interest, or rent, on federal reserve notes your members of Congress have borrowed in your name.

The current annual rent is about $389 billion which you will be taxed to pay.

Aside from that I believe John Adams was speaking to you when he wrote:

All the perplexities, confusions, and distresses in America arise, not from defects in the Constitution or confederation, not from want of honor or virtue, as much as from downright ignorance of the nature of coin, credit, and circulation.

JWK

As a taxpayer, Mr. Smarty Pants, your are indeed paying interest, or rent, on federal reserve notes your members of Congress have borrowed in your name.

You think Congress borrows FRNs when they buy a weapon system or build a dam or road? LOL!

But I was more interested in the FRNs in my wallet. I didn't borrow them, why would I pay interest on them?

You must borrow your FRNs, to what Federal Reserve address do you mail your interest payments?

Try to focus.

Yes. You really need to focus. Every Federal Reserve Note in your "wallet" is collecting interest for the 12 privately owned banks called the Federal Reserve.

Can you explain the difference between a "Federal Reserve Note" and a "Dollar"?


JWK

"We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it". — Congressman Louis T. McFadden in 1932 (Rep. Pa)

 

[Toddsterpatriot]

That's just as impressive as if Bernie Sanders, Barney Frank or Maxine Waters had said that.

Oh come now. The obvious truth is, the Federal Reserve System is nothing less than a predatory money monopoly created by Wall Street Bankers, allowing its operators to freely consume, without cost, what America’s labor and industries have produced.

The Federal Reserve System, when stripped of its fancy terms and alleged necessity, is nothing more than a variation of the mob’s protection racket to get a piece of the action: you will use our Bank Notes as the only legal tender to transact your business, and you will pay interest for the privilege of renting these Notes.

JWK

“Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man’s field by the sweat of the poor man’s brow.”_____ Daniel Webster.

the Federal Reserve System is nothing less than a predatory money monopoly created by Wall Street Bankers, allowing its operators to freely consume, without cost, what America’s labor and industries have produced.

What does that even mean?

You never explained the rent you pay to use FRNs, where do you mail the check?

​

Already asked and answered!

As a taxpayer, Mr. Smarty Pants, your are indeed paying interest, or rent, on federal reserve notes your members of Congress have borrowed in your name.

The current annual rent is about $389 billion which you will be taxed to pay.

Aside from that I believe John Adams was speaking to you when he wrote:

All the perplexities, confusions, and distresses in America arise, not from defects in the Constitution or confederation, not from want of honor or virtue, as much as from downright ignorance of the nature of coin, credit, and circulation.

JWK

As a taxpayer, Mr. Smarty Pants, your are indeed paying interest, or rent, on federal reserve notes your members of Congress have borrowed in your name.

You think Congress borrows FRNs when they buy a weapon system or build a dam or road? LOL!

But I was more interested in the FRNs in my wallet. I didn't borrow them, why would I pay interest on them?

You must borrow your FRNs, to what Federal Reserve address do you mail your interest payments?

Try to focus.

Yes. You really need to focus. Every Federal Reserve Note in your "wallet" is collecting interest for the 12 privately owned banks called the Federal Reserve.

Can you explain the difference between a "Federal Reserve Note" and a "Dollar"?


JWK

"We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it". — Congressman Louis T. McFadden in 1932 (Rep. Pa)

Every Federal Reserve Note in your "wallet" is collecting interest for the 12 privately owned banks called the Federal Reserve.

I have never ever paid interest to any bank for the $20 in my wallet.

How much do you pay? Where do you mail your payment?

Can you explain the difference between a "Federal Reserve Note" and a "Dollar"?

Knock yourself out.

 

[danielpalos]

...the right wing is being disingenuous if they don't have any problem with cryptocurrencies.

All those who do not have a problem with imaginary money are being disingenuous, or are totally ignorant and part of the "woke" crowd.

JWK

"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

what is your opinion of putting some infrastructure underground and using any precious metals we may discover, to help pay for it.

i love being a Californian; simply Because, our Sierra Madre has, the Mother Lode.

 

[johnwk]

Oh come now. The obvious truth is, the Federal Reserve System is nothing less than a predatory money monopoly created by Wall Street Bankers, allowing its operators to freely consume, without cost, what America’s labor and industries have produced.

The Federal Reserve System, when stripped of its fancy terms and alleged necessity, is nothing more than a variation of the mob’s protection racket to get a piece of the action: you will use our Bank Notes as the only legal tender to transact your business, and you will pay interest for the privilege of renting these Notes.

JWK

“Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man’s field by the sweat of the poor man’s brow.”_____ Daniel Webster.

the Federal Reserve System is nothing less than a predatory money monopoly created by Wall Street Bankers, allowing its operators to freely consume, without cost, what America’s labor and industries have produced.

What does that even mean?

You never explained the rent you pay to use FRNs, where do you mail the check?

​

Already asked and answered!

As a taxpayer, Mr. Smarty Pants, your are indeed paying interest, or rent, on federal reserve notes your members of Congress have borrowed in your name.

The current annual rent is about $389 billion which you will be taxed to pay.

Aside from that I believe John Adams was speaking to you when he wrote:

All the perplexities, confusions, and distresses in America arise, not from defects in the Constitution or confederation, not from want of honor or virtue, as much as from downright ignorance of the nature of coin, credit, and circulation.

JWK

As a taxpayer, Mr. Smarty Pants, your are indeed paying interest, or rent, on federal reserve notes your members of Congress have borrowed in your name.

You think Congress borrows FRNs when they buy a weapon system or build a dam or road? LOL!

But I was more interested in the FRNs in my wallet. I didn't borrow them, why would I pay interest on them?

You must borrow your FRNs, to what Federal Reserve address do you mail your interest payments?

Try to focus.

Yes. You really need to focus. Every Federal Reserve Note in your "wallet" is collecting interest for the 12 privately owned banks called the Federal Reserve.

Can you explain the difference between a "Federal Reserve Note" and a "Dollar"?


JWK

"We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it". — Congressman Louis T. McFadden in 1932 (Rep. Pa)

Every Federal Reserve Note in your "wallet" is collecting interest for the 12 privately owned banks called the Federal Reserve.

I have never ever paid interest to any bank for the $20 in my wallet.

How much do you pay? Where do you mail your payment?

Can you explain the difference between a "Federal Reserve Note" and a "Dollar"?

Knock yourself out.

You allege you have never ever paid interest to any bank for the $20 in your wallet. If you pay any federal taxes, a portion of that goes to paying interest on the Federal Debt which is created when Congress rents Federal Reserve Notes, which includes the $20 dollar Note you have in your wallet.

Are you part of the "woke" generation?

I believe John Adams was thinking of you when he stated the following: All the perplexities, confusions, and distresses in America arise, not from defects in the Constitution or confederation, not from want of honor or virtue, as much as from downright ignorance of the nature of coin, credit, and circulation.

 

[Toddsterpatriot]

the Federal Reserve System is nothing less than a predatory money monopoly created by Wall Street Bankers, allowing its operators to freely consume, without cost, what America’s labor and industries have produced.

What does that even mean?

You never explained the rent you pay to use FRNs, where do you mail the check?

​

Already asked and answered!

As a taxpayer, Mr. Smarty Pants, your are indeed paying interest, or rent, on federal reserve notes your members of Congress have borrowed in your name.

The current annual rent is about $389 billion which you will be taxed to pay.

Aside from that I believe John Adams was speaking to you when he wrote:

All the perplexities, confusions, and distresses in America arise, not from defects in the Constitution or confederation, not from want of honor or virtue, as much as from downright ignorance of the nature of coin, credit, and circulation.

JWK

As a taxpayer, Mr. Smarty Pants, your are indeed paying interest, or rent, on federal reserve notes your members of Congress have borrowed in your name.

You think Congress borrows FRNs when they buy a weapon system or build a dam or road? LOL!

But I was more interested in the FRNs in my wallet. I didn't borrow them, why would I pay interest on them?

You must borrow your FRNs, to what Federal Reserve address do you mail your interest payments?

Try to focus.

Yes. You really need to focus. Every Federal Reserve Note in your "wallet" is collecting interest for the 12 privately owned banks called the Federal Reserve.

Can you explain the difference between a "Federal Reserve Note" and a "Dollar"?


JWK

"We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it". — Congressman Louis T. McFadden in 1932 (Rep. Pa)

Every Federal Reserve Note in your "wallet" is collecting interest for the 12 privately owned banks called the Federal Reserve.

I have never ever paid interest to any bank for the $20 in my wallet.

How much do you pay? Where do you mail your payment?

Can you explain the difference between a "Federal Reserve Note" and a "Dollar"?

Knock yourself out.

You allege you have never ever paid interest to any bank for the $20 in your wallet. If you pay any federal taxes, a portion of that goes to paying interest on the Federal Debt which is created when Congress rents Federal Reserve Notes, which includes the $20 dollar Note you have in your wallet.

Are you part of the "woke" generation?

I believe John Adams was thinking of you when he stated the following: All the perplexities, confusions, and distresses in America arise, not from defects in the Constitution or confederation, not from want of honor or virtue, as much as from downright ignorance of the nature of coin, credit, and circulation.

You allege you have never ever paid interest to any bank for the $20 in your wallet.

Never did, not even once. What rate do you pay on your FRNs? How do they know how many you have?
WHERE DO YOU MAIL YOUR CHECK?

If you pay any federal taxes, a portion of that goes to paying interest on the Federal Debt

Why do you keep conflating the money the US Treasury borrowed with FRNs held by anyone?
Is it because you have no clue when it comes to economics?

which is created when Congress rents Federal Reserve Notes, which includes the $20 dollar Note you have in your wallet.

I didn't get my $20 from Congress. Why would I, or Congress, owe interest on my $20?

All the perplexities, confusions, and distresses in America arise, not from defects in the Constitution or confederation, not from want of honor or virtue, as much as from downright ignorance of the nature of coin, credit, and circulation.

It's like he had you in mind.....spooky!

 

[johnwk]

JWK

I didn't get my $20 from Congress. Why would I, or Congress, owe interest on my $20?

You see? You don't even know how Federal Reserve Notes enter the economy.



JWK

Our Founders intended ordinary citizens to keep and bear arms [a contemporary fire arm used by foot soldiers] so they would be ready and able to defend themselves against a despotic government if necessary. The AR-15-semi is a civilian version of the United States military’s M16

 

[Toddsterpatriot]

JWK

I didn't get my $20 from Congress. Why would I, or Congress, owe interest on my $20?

You see? You don't even know how Federal Reserve Notes enter the economy.



JWK

Our Founders intended ordinary citizens to keep and bear arms [a contemporary fire arm used by foot soldiers] so they would be ready and able to defend themselves against a despotic government if necessary. The AR-15-semi is a civilian version of the United States military’s M16

You don't even know how Federal Reserve Notes enter the economy.

A bank orders them and their reserve account at the Fed is debited.
Even banks don't borrow FRNs, silly rabbit.

FedCash Services Currency Depositing and Ordering

Still waiting for you to explain, how much you're charged for the $20 in your wallet?
Where you send your payment? How the Fed knows you're holding it? Why are you afraid to explain?

 

[johnwk]

JWK

I didn't get my $20 from Congress. Why would I, or Congress, owe interest on my $20?

You see? You don't even know how Federal Reserve Notes enter the economy.



JWK

Our Founders intended ordinary citizens to keep and bear arms [a contemporary fire arm used by foot soldiers] so they would be ready and able to defend themselves against a despotic government if necessary. The AR-15-semi is a civilian version of the United States military’s M16

You don't even know how Federal Reserve Notes enter the economy.

A bank orders them and their reserve account at the Fed is debited.
Even banks don't borrow FRNs, silly rabbit.

FedCash Services Currency Depositing and Ordering

Still waiting for you to explain, how much you're charged for the $20 in your wallet?
Where you send your payment? How the Fed knows you're holding it? Why are you afraid to explain?

My goodness. You still don't get it, or refuse to get it.

JWK

"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

 

[Toddsterpatriot]

JWK

I didn't get my $20 from Congress. Why would I, or Congress, owe interest on my $20?

You see? You don't even know how Federal Reserve Notes enter the economy.



JWK

Our Founders intended ordinary citizens to keep and bear arms [a contemporary fire arm used by foot soldiers] so they would be ready and able to defend themselves against a despotic government if necessary. The AR-15-semi is a civilian version of the United States military’s M16

You don't even know how Federal Reserve Notes enter the economy.

A bank orders them and their reserve account at the Fed is debited.
Even banks don't borrow FRNs, silly rabbit.

FedCash Services Currency Depositing and Ordering

Still waiting for you to explain, how much you're charged for the $20 in your wallet?
Where you send your payment? How the Fed knows you're holding it? Why are you afraid to explain?

My goodness. You still don't get it, or refuse to get it.

JWK

"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

I get your silliness just fine.
That's why I keep pointing it out.
That's why you can't answer my questions.

 

[johnwk]

JWK

I didn't get my $20 from Congress. Why would I, or Congress, owe interest on my $20?

You see? You don't even know how Federal Reserve Notes enter the economy.



JWK

Our Founders intended ordinary citizens to keep and bear arms [a contemporary fire arm used by foot soldiers] so they would be ready and able to defend themselves against a despotic government if necessary. The AR-15-semi is a civilian version of the United States military’s M16

You don't even know how Federal Reserve Notes enter the economy.

A bank orders them and their reserve account at the Fed is debited.
Even banks don't borrow FRNs, silly rabbit.

FedCash Services Currency Depositing and Ordering

Still waiting for you to explain, how much you're charged for the $20 in your wallet?
Where you send your payment? How the Fed knows you're holding it? Why are you afraid to explain?

My goodness. You still don't get it, or refuse to get it.

JWK

"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

I get your silliness just fine.
That's why I keep pointing it out.
That's why you can't answer my questions.

Oh, but I did answer your question. If you pay any federal taxes, a portion of that goes to paying interest on the Federal Debt which is created when Congress borrows money.

Now, is it not a fact our founders specifically reject allowing bank notes of any kind to be made a legal tender?

JWK


Elizabeth Warren’s Government sponsored capitalism is about fattening the fortunes of those holding political power with tax revenue, while regulating a free market, free enterprise system into submission, and then into extinction.

JWK

 

[Toddsterpatriot]

JWK

I didn't get my $20 from Congress. Why would I, or Congress, owe interest on my $20?

You see? You don't even know how Federal Reserve Notes enter the economy.



JWK

Our Founders intended ordinary citizens to keep and bear arms [a contemporary fire arm used by foot soldiers] so they would be ready and able to defend themselves against a despotic government if necessary. The AR-15-semi is a civilian version of the United States military’s M16

You don't even know how Federal Reserve Notes enter the economy.

A bank orders them and their reserve account at the Fed is debited.
Even banks don't borrow FRNs, silly rabbit.

FedCash Services Currency Depositing and Ordering

Still waiting for you to explain, how much you're charged for the $20 in your wallet?
Where you send your payment? How the Fed knows you're holding it? Why are you afraid to explain?

My goodness. You still don't get it, or refuse to get it.

JWK

"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.

I get your silliness just fine.
That's why I keep pointing it out.
That's why you can't answer my questions.

Oh, but I did answer your question. If you pay any federal taxes, a portion of that goes to paying interest on the Federal Debt which is created when Congress borrows money.

Now, is it not a fact our founders specifically reject allowing bank notes of any kind to be made a legal tender?

JWK


Elizabeth Warren’s Government sponsored capitalism is about fattening the fortunes of those holding political power with tax revenue, while regulating a free market, free enterprise system into submission, and then into extinction.

JWK

Oh, but I did answer your question.

I hold FRNs. The Fed and the IRS don't know how much I hold.
They don't charge me anything for the FRNs I hold. The US Treasury doesn't borrow or use FRNs.
Everything you claimed about FRNs was wrong.

Now, is it not a fact our founders specifically reject allowing bank notes of any kind to be made a legal tender?

Nope, but feel free to run away instead of posting your proof.
You're better at that than posting evidence for your claims.