Wednesday, March 14, 2012

The Fleecing of America--Fooling myself cont 10

Mark was very enthusiastic and whenever I would get doubtful he would give me little pieces of information that he could prove and that were fascinating.  The first thing he told me about was how our money is just an illusion.  That the dollars we use to buy things are really worthless because they are backed by nothing but journal entries, debits and credits, by the Federal Reserve and banks.  If you look at a dollar bill it states on the top that it is a ‘Federal Reserve Note’.  I have looked into numerous sources regarding this and it is in fact true.  A medium was created by which people could exchange for goods however if you look deeply into the monetary system it is very troubling.  Money is created by debt.  Something I think every American should know is that the Federal Reserve is not federal and it keeps no reserves.  It is a private corporation owned by a group of private banks, the largest of which are JP Morgan Chase and Citibank.  The government does not own it or control it.

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