I've just read an article about the federal reserve banking system. Congress has basically given up the right to print money and given it to the
federal reserve. It has lost value.
The current Federal Reserve banking system is modeled after the European central banking system Americans revolted against during their War of
Independence.
Every dollar created under the present monetary system does not represent a tangible asset. It represents an I.O.U. from the government, and therefore
the people, to the central bank. After three failed attempts, central bankers finally gained control the monopoly on the issuance of American money
with the creation of the Federal Reserve in 1913.
There are two unavoidable results of the Federal Reserve System: (1) devaluation of the dollar and (2) accumulation of debt.
Devaluation
Since the establishment of the Federal Reserve, the U.S. dollar has lost over 95% of its purchasing power.
dollardaze.org...
Every dollar we have is an IOU and not a tangible asset. Basically, for every dollar printed now we go a dollar deeper in debt and the dollar becomes
more and more worthless.
Exactly what is our real debt total?
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