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I know, but once you do understand, it the veil really does start to disappear. Understanding this is to really start to see the trickery for what it really is.
The tax was repealed ten years later. However, in 1894 Congress enacted a flat rate Federal income tax, which was ruled unconstitutional the following year by the U.S. Supreme Court because it was a direct tax not apportioned according to the population of each state.
Bretton Woods died in 1971, along with most of the power of the IMF and the World Bank. The Federal Reserve was also weakened to an extent. Nixon must have thought he was breaking the backs of the bankers, he was right to an extent, he broke the backs of the American bankers but empowered Europe's....
Originally posted by Klassified
reply to post by Whereweheaded
There is some question as to whether the 16th amendment was ever truly ratified. There are other pages, but I found this one on short notice.
www.thelawthatneverwas.com...
That profit is determined after the bank owners get their cut.
1999 Combined Statements of Income of the Federal Reserve Banks (in millions)
Interest income Interest on U.S. government securities 28,216
Interest on foreign securities 225
Interest on loans to depository institutions 11
Other income 688
-------
Total operating income 29,140
Operating expenses Salaries and benefits 1,446
Occupancy expense 189
Assessments by Board of Governors 699
Equipment expense 242
Other 302
-------
Total operating expenses 2,878
Net Income Prior to Distribution 26,262
Distribution of Net Income Dividends paid to member banks 374
Transferred to surplus 479
Payments to U.S. Treasury 25,409
-------
Total distribution 26,262
Originally posted by StrangeBrew
Originally posted by wcitizen
I know, but once you do understand, it the veil really does start to disappear. Understanding this is to really start to see the trickery for what it really is.
I agree heavily. I believe this is truly one of the major linchpins holding the veil in place. Ultimately, this creation bares responsibility for the majority of frauds perpetrated against us whether it be the manipulation of the energy industry or the corrupt healthcare system people want to believe is there to "help" them.
It all became possible once we lost sight of how money began to be created in the 1913 (in the US) and other years in other countries, but all the same regardless.
Originally posted by Whereweheaded
Yes, most probably this provided the basis for the argument that the Federal Reserve needed to be set up ...they could see the potential!edit on 20-12-2010 by wcitizen because: (no reason given)
Originally posted by crimvelvet
reply to post by wcitizen
I know, but once you do understand, it the veil really does start to disappear. Understanding this is to really start to see the trickery for what it really is.
That is why I use the Federal Reserve as a start in educating people. I then move to the Food Safety Farce
Originally posted by Klassified
reply to post by Jean Paul Zodeaux
Well layed out sir. Although my intent was not to argue for or against ramifications, but rather to add a snippet of info to the discussion. But I'm glad you picked it up. I certainly could not have done it justice the way you did.
So to defeat this mob all people would have to do is trade in something other than federal reserve notes. Like beer for example. We could all trade beer instead of federal reserve notes.
§ 5005. Persons liable for tax
(a) General The distiller or importer of distilled spirits shall be liable for the taxes imposed thereon by section 5001 (a)(1).
§ 5001. Imposition, rate, and attachment of tax
(a) Rate of tax (1) General There is hereby imposed on all distilled spirits produced in or imported into the United States a tax at the rate of $13.50 on each proof gallon and a proportionate tax at the like rate on all fractional parts of a proof gallon.
Originally posted by peter_kandra
Originally posted by gnosticquasar
I have no problem with income taxes. It helps in the upkeep of roads, police, the military, and the like. I wish we could do a flat tax of 15-20% on everybody, on all income, with no exceptions or refunds. It would be so much easier.
I agree with a flat tax. If you consume more, you pay more....everyone would be on a level playing field. The problem then becomes state and local taxes. Do we abolish them and have one flat tax system?
So the lesson I learned from this thread is my income tax goes toward a legal mob group which deals in federal reserve notes.
So to defeat this mob all people would have to do is trade in something other than federal reserve notes. Like beer for example. We could all trade beer instead of federal reserve notes.
Unless you all gotta better idea anyway.
While bank bailouts fatten Wall Street, states continue to battle the credit crisis. In the search for innovative solutions, some political candidates are proposing that states generate their own credit by setting up their own banks....
Amanda Paulson, writing in The Christian Science Monitor, quotes Arturo Pérez, fiscal analyst with the National Conference of State Legislatures, which released its survey of state budget situations in December:
“Unless you’re North Dakota, you’re probably a state that has had some degree of difficulty or crisis involving finances. It’s the worst situation states have faced in decades, perhaps going as far back as the Great Depression in some states.”
“Unless you’re North Dakota” – a state with a sizeable budget surplus, and the only state that is adding jobs when other states are losing them..
So what is so special about North Dakota? The answer seems to be that it is the only state in the union that owns its own bank. It doesn’t have to rely on a recalcitrant Wall Street for credit. It makes its own.
CAMPAIGNING FOR STATE-OWNED BANKS: www.webofdebt.com...
The Return to Sound Money
The first step must be a radical and unconditional abandonment of any further inflation. The total amount of dollar bills, whatever their name or legal characteristic may be, must not be increased by further issuance. No bank must be permitted to expand the total amount of its deposits subject to check or the balance of such deposits of any individual customer, be he a private citizen or the U.S. Treasury, otherwise than by receiving cash deposits in legal-tender banknotes from the public or by receiving a check payable by another domestic bank subject to the same limitations. This means a rigid 100 percent reserve for all future deposits; that is, all deposits not already in existence on the first day of the reform (p. 448).
In “Human Action”, Mises said that the government's task is to enforce contracts. Among these contracts are contracts for redeeming money-certificates for money metals on demand. He defined a money-certificate a receipt for a money metal that has 100% of the promised metal in reserve. He said that banks should not be favored by the government. They should not be allowed the right to break contracts, which is what a refusal to redeem money-certificates on demand is. "What is needed to prevent any further credit expansion is to place the banking business under the general rules of commercial and civil laws compelling every individual to fulfill all obligations in full compliance with the terms of the contract"
Mises on Money: www.lewrockwell.com...
First National Bank of Montgomery vs. Daly (1969)
...to everyone's surprise, Morgan admitted that the bank routinely created money "out of thin air" for its loans, and that this was standard banking practice. "It sounds like fraud to me," intoned Presiding Justice Martin Mahoney amid nods from the jurors. In his court memorandum, Justice Mahoney stated:
"Plaintiff admitted that it, in combination with the Federal Reserve Bank of Minneapolis, . . . did create the entire $14,000.00 in money and credit upon its own books by bookkeeping entry. That this was the consideration used to support the Note dated May 8, 1964 and the Mortgage of the same date. The money and credit first came into existence when they created it. Mr. Morgan admitted that no United States Law or Statute existed which gave him the right to do this. A lawful consideration must exist and be tendered to support the Note."
You can doctor it anyway you want to, but the fact remains that if we did not even have a fractional reserve banking monetary system...we wouldn't have any debt.
Testimony by Mr. Morgan, the bank's president,First National Bank of Montgomery vs. Daly (1969)
Plaintiff admitted that it, in combination with the Federal Reserve Bank of Minneapolis, . . . did create the entire $14,000.00 in money and credit upon its own books by bookkeeping entry. That this was the consideration used to support the Note dated May 8, 1964 and the Mortgage of the same date. The money and credit first came into existence when they created it. Mr. Morgan admitted that no United States Law or Statute existed which gave him the right to do this. A lawful consideration must exist and be tendered to support the Note.
www.webofdebt.com...