By J-One Royal Fam
The Fed just reported record profits in 2009. About a year ago this wouldn't have meant anything to me. About 9 months ago, I would have thought that the recession was nearly over. Now, I know better, and this set off a BS alarm in my head. Without sounding "nutty", the aboved linked article mentioned that a few hundred people just made off with all of your hard work and savings last year. While others and I struggle for jobs in this downed "economy", those few elitist made more money in one quarter than we could imagine in our entire lifetimes. It doesn't take a rocket scientist or a "conspiracy nut" to figure this out.
How a bank works is simple. You make a deposit and the bank creates almost 10 times that amount out of thin air and gives that out in loans that are paid with interest attached. That's right. You're paying interest on something your bank never had. Doing this over and over again to millions of people is going to make a few rich and almost everyone else poor. There is no way to pay all the interest back with the actual money currently in circulation (the money in our wallets and purses). What does this have to do with the Federal Reserve?
If you can grasp the basic understanding of how a regular bank works, think of the Fed or the "central bank" as the mothership of all the other banks and the bank that Congress gave the power to print our money. So when I say that money is created out of thin air, I mean the Fed literally creates money out of thin air. Just as we go to the nearest bank and ask for a loan, whenever the government needs money to do anything, it has come from the central bank--AT INTEREST. When I say the government, I mean your federal tax dollars. Putting this all together, that headline reads: "You gave Ben Bernanke (pay close attention to this video) and all of his cronies, 47 billion dollars and they gave it back to the government (you) at interest. So next year, if we can start another war or get you to like a big, huge government deal that will hurt you in the long run, that number can almost double, at your expense." That's too long of a headline, so the one you read will have to do.
Our money is debt and our deficit is caused by our necessity for that money. There is no way to balance it or pay it off; because if we did, there would be no money at all. The only way to free ourselves from this debt slave trade we call capitalism is to research all of this ourselves, speak out in some way, and tell others. Oh yeah...
Open Your Eyes...That's What They're For!!!