Going back to at least 1980 the debt doubles roughly every 9 years. In 20 years, the debt should be at about 160 trillion. I don’t think we’ll get there. We’re nearing the end of the ponzi. I kinda think those in power know this and that’s why they care less and less about hiding their shenanigans. Frank Drevin
I just discovered your work today with this article.
It's a great explanation of the greatest con in history - the central banking system, you've laid it out in simple terms.
It has occurred to me many times that as I understand the US Constitution, and I am no expert, but it seems to me the 1913 Federal Reserve Act is actually unconstitutional. What are your thoughts on this?
I was glad to learn about 'The Money Trust' and the Pujo Committee - funny that they did exactly what the Committee seemed to be indicating not to do - create a central bank so the financiers could gain more control - it begs the question if the real purpose of the committee was to gauge how much control they had over the public narratives and the Congress itself.
I have long called the 'Money Trust' - the IBFIC, the International Banking, Finance, and Investment Cartel - which is simple the expansion of what started as the Money Trust in England in the City of London, became the expanded version in the USA, and since 1913 has expanded worldwide.
Carrol Quigley in his book Tragedy and Hope nicely summarizes the bankers success at taking control of all aspects of the US economy, and since then they've gone global.
Quigley's work was likely sponsored by them to identify how successful they have been.
Top of the day Ivan. Thanks for the kind comments.
The year 1913 was a banner year for the Leviathan. The 16th Amendment was ratified, imposing a Federal Income tax. In addition, that year saw the birth of the Federal Reserve whereby Congress gave away its duty to regulate sound money. As a result, an oligarchy formed, which was not the intention of the Founding Fathers.
The (first 5 of 18) specific expenses counted in the Constitution that the Government can undertake are in the following 18 Clauses under Section 8:
1 The Congress shall have power To lay and collect Taxes, Duties, Imposts, and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States; but all Duties, Imposts, and Excises shall be uniform throughout the United States
2 To borrow Money on the credit of the United States
3 To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes
4 To establish a uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States
5 To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures
Thus, in MHO, yes, the Federal Reserve is unconstitutional like most things coming out of U.S. the government these days.
Thanks for those specifics relating to the Constitution - glad to see someone with a lot more knowledge about the details of the law agreed with my instincts that it was unconstitutional to create the Federal Reserve - and yep, the USA has a long list of constitutional violations sadly.
The mistake the founding fathers made was failing to see that corrupt agents would attempt to make unconstitutional laws - I personally believe we need a 4th part of government which would review all laws that politicians want to pass and if they are not constitutional then cancel them.
This would make a good article, which I suggest you have the knowledge to put it together.
Fascinating analysis about a 4th branch. If the Supreme Court was structured today as intended, and staffed with truly independent judges, a lot of the nonsense would not have occurred (or be occurring). I like the title "Is the 1913 Federal Reserve Act Unconstitutional?" I had added that to my list of possible future essays.
Another point of US law that I suspect is unconstitutional, and certainly absolutely violates the spirit of the founding fathers intentions - was the Supreme Court decision that gave corporations the rights equal to people.
Which is an absurd proposition but that which empowers the oligarchy to steamroll the electorate all over the world where this insanity is tolerated.
Americans were anti-corporations for hundreds of y ears, because they understood the power they can accrue - and I don't believe they should never have any electoral rights, nor should they have the rights to finance political campaigns or parties (actually parties are another abomination created by the Democrat Party-the party of 'Make America Britain Again).
Most people have forgotten history and don't understand the resistance to corporations for hundreds of years. The change when it came was driven by the globalists. It is like the fact that since the Rockefellers and Carnegie foundations took over education they've given American's collective amnesia about the true reason the 1776 Revolution was fought - it wasn't taxation it was the Bank of England's imposition of control over the colonies currency which destroyed their prosperity and was impoverishing them.
Lol - so many directions to see this tyranny from A to Z Frederich.
The decision giving corporation the same rights as people sees to irritate people from both the right and the left. In recent years with corporations going woke, that seems to have made collectivists to sidestep this issue. Another good item for my long list of future topics.
Glad to see you like the idea of a 4th branch. And very happy to see you've added the idea about the Federal Reserve Act to your list of ideas.
Use that title if you like it please. It's a great point to add to the public debate.
Perhaps another idea you might consider could be an article on the 4th Branch concept. I once read somewhere a story about a US politician, a Republican, who was told by a Democrat that they apply the rule of "one and five" when they pass unconstitutional laws. Meaning they know it is violating the constitution but they also know it will take one million dollars and five years, at least, to get SOTUS to strike it down. Meanwhile they fulfill their agenda.
Those who subscribe to the original intent of the Constitution will argue that a fourth branch in itself is unconstitutional. They will also say that it will take an amendment and all that is needed is just to follow the Constitution. Regardless, worthy of discussion perhaps in a future fictional context.
The only piece missing from this essay is the Cantillon effect which brings the benefits of the new money created into existence preferentially to the people who get it first. It's a monster. #EndTheFed
Based on what When Money Dies and Fiat Money in France describe, I would say there's no hyperinflation, yet, because it hasn't dawned on people that it's better to buy now than wait for the currency to depreciate. Hyperinflation is more of a psychological phenomenon where people lose confidence in the value of the currency.
Being able to produce potatoes and chicken is a better strategy than betting on crypto or other assets, because food becomes scarce and overpriced.
The Creature from Jekyll Island is disturbing though, because it alludes to the idea that none of this is by accident.
I still prefer Cash, backed by gold and silver. Or go back to coins in common denominations. I put the CC up, I know too well what overuse causes, debt you find hard to pay off. Worse than a 30-year mortgage. We've been through it. The Military didn't make much in 58-78. Pensions are still low even after all these years.
Thanks for the comment. As for “when you create your own money..” that makes life easy for the elitists who get richer using that “money” machine. The average person, not part of that club, gets pushed to the back of the bus. A money system of intrinsic backing is resistant to inflation. Fractional banking is a legalized film flam scheme.
Fractional reserve banking requires endless bailouts from the public
https://neofeudalreview.substack.com/p/fractional-reserve-banking-requires
Going back to at least 1980 the debt doubles roughly every 9 years. In 20 years, the debt should be at about 160 trillion. I don’t think we’ll get there. We’re nearing the end of the ponzi. I kinda think those in power know this and that’s why they care less and less about hiding their shenanigans. Frank Drevin
https://substack.com/@frankdrevin
Hi Frederick.
I just discovered your work today with this article.
It's a great explanation of the greatest con in history - the central banking system, you've laid it out in simple terms.
It has occurred to me many times that as I understand the US Constitution, and I am no expert, but it seems to me the 1913 Federal Reserve Act is actually unconstitutional. What are your thoughts on this?
I was glad to learn about 'The Money Trust' and the Pujo Committee - funny that they did exactly what the Committee seemed to be indicating not to do - create a central bank so the financiers could gain more control - it begs the question if the real purpose of the committee was to gauge how much control they had over the public narratives and the Congress itself.
I have long called the 'Money Trust' - the IBFIC, the International Banking, Finance, and Investment Cartel - which is simple the expansion of what started as the Money Trust in England in the City of London, became the expanded version in the USA, and since 1913 has expanded worldwide.
Carrol Quigley in his book Tragedy and Hope nicely summarizes the bankers success at taking control of all aspects of the US economy, and since then they've gone global.
Quigley's work was likely sponsored by them to identify how successful they have been.
Cheers
Ivan
Top of the day Ivan. Thanks for the kind comments.
The year 1913 was a banner year for the Leviathan. The 16th Amendment was ratified, imposing a Federal Income tax. In addition, that year saw the birth of the Federal Reserve whereby Congress gave away its duty to regulate sound money. As a result, an oligarchy formed, which was not the intention of the Founding Fathers.
The (first 5 of 18) specific expenses counted in the Constitution that the Government can undertake are in the following 18 Clauses under Section 8:
1 The Congress shall have power To lay and collect Taxes, Duties, Imposts, and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States; but all Duties, Imposts, and Excises shall be uniform throughout the United States
2 To borrow Money on the credit of the United States
3 To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes
4 To establish a uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States
5 To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures
Thus, in MHO, yes, the Federal Reserve is unconstitutional like most things coming out of U.S. the government these days.
Hi Frederick,
Top of the day back to you mate.
Thanks for those specifics relating to the Constitution - glad to see someone with a lot more knowledge about the details of the law agreed with my instincts that it was unconstitutional to create the Federal Reserve - and yep, the USA has a long list of constitutional violations sadly.
The mistake the founding fathers made was failing to see that corrupt agents would attempt to make unconstitutional laws - I personally believe we need a 4th part of government which would review all laws that politicians want to pass and if they are not constitutional then cancel them.
This would make a good article, which I suggest you have the knowledge to put it together.
Is the 1913 Federal Reserve Act Unconstitutional?
Best,
Ivan
Fascinating analysis about a 4th branch. If the Supreme Court was structured today as intended, and staffed with truly independent judges, a lot of the nonsense would not have occurred (or be occurring). I like the title "Is the 1913 Federal Reserve Act Unconstitutional?" I had added that to my list of possible future essays.
Good day
Another point of US law that I suspect is unconstitutional, and certainly absolutely violates the spirit of the founding fathers intentions - was the Supreme Court decision that gave corporations the rights equal to people.
Which is an absurd proposition but that which empowers the oligarchy to steamroll the electorate all over the world where this insanity is tolerated.
Americans were anti-corporations for hundreds of y ears, because they understood the power they can accrue - and I don't believe they should never have any electoral rights, nor should they have the rights to finance political campaigns or parties (actually parties are another abomination created by the Democrat Party-the party of 'Make America Britain Again).
Most people have forgotten history and don't understand the resistance to corporations for hundreds of years. The change when it came was driven by the globalists. It is like the fact that since the Rockefellers and Carnegie foundations took over education they've given American's collective amnesia about the true reason the 1776 Revolution was fought - it wasn't taxation it was the Bank of England's imposition of control over the colonies currency which destroyed their prosperity and was impoverishing them.
Lol - so many directions to see this tyranny from A to Z Frederich.
BTW - I did mention this issue in my essay Lawerence Patton McDonald and the Fickle Fourteenth https://frederickrsmith.substack.com/p/lawerence-patton-mcdonald-and-the
But it is still worthy of a separate essay.
Here is my idea for a tile "The Corporate Conundrum: How the Supreme Court Equated Business Entities with Individuals"
I like that title - write it please!!!
The decision giving corporation the same rights as people sees to irritate people from both the right and the left. In recent years with corporations going woke, that seems to have made collectivists to sidestep this issue. Another good item for my long list of future topics.
Glad to see you like the idea of a 4th branch. And very happy to see you've added the idea about the Federal Reserve Act to your list of ideas.
Use that title if you like it please. It's a great point to add to the public debate.
Perhaps another idea you might consider could be an article on the 4th Branch concept. I once read somewhere a story about a US politician, a Republican, who was told by a Democrat that they apply the rule of "one and five" when they pass unconstitutional laws. Meaning they know it is violating the constitution but they also know it will take one million dollars and five years, at least, to get SOTUS to strike it down. Meanwhile they fulfill their agenda.
Ideas for a title:
-A 4th Branch to Balance the Scales of Justice
-Constitutional Integrity Requires a 4th Branch
Cheers
Those who subscribe to the original intent of the Constitution will argue that a fourth branch in itself is unconstitutional. They will also say that it will take an amendment and all that is needed is just to follow the Constitution. Regardless, worthy of discussion perhaps in a future fictional context.
Rubbish to those who argue that. The Constitution has had many amendments. Some good. Some bad. This would be a GREAT amendment.
Collapse of 'The American Century': Snowden Blames Gold Standard Abandonment, Union Busting, And Post-9/11 Liberties Erosion
https://www.benzinga.com/news/24/01/36626089/collapse-of-the-american-century-snowden-blames-gold-standard-abandonment-union-busting-and-post-911
The Great Taking - Documentary
https://youtu.be/dk3AVceraTI
The US debt mountain is growing so fast the government could soon be spending more on interest payments than on defense
https://markets.businessinsider.com/news/stocks/debt-economy-treasury-bonds-israel-hamas-defense-spending-capital-economics-2023-10
That was an excellent distillation of a very detailed book. Great job Frederick!
One of the best books I've ever read. It's really a must read.
The only piece missing from this essay is the Cantillon effect which brings the benefits of the new money created into existence preferentially to the people who get it first. It's a monster. #EndTheFed
Is President Biden “gaslighting” the American people on inflation? Some believe so
https://theindependent.co/is-president-biden-gaslighting-the-american-people/
Yes, there is almost always a hidden secret... It's how the elites roll.
Based on what When Money Dies and Fiat Money in France describe, I would say there's no hyperinflation, yet, because it hasn't dawned on people that it's better to buy now than wait for the currency to depreciate. Hyperinflation is more of a psychological phenomenon where people lose confidence in the value of the currency.
Being able to produce potatoes and chicken is a better strategy than betting on crypto or other assets, because food becomes scarce and overpriced.
The Creature from Jekyll Island is disturbing though, because it alludes to the idea that none of this is by accident.
Bingo
Tremendous review. How much longer can it go on, the sky is the limit but we have already hit low earth orbit (at least).
Thanks Edwin, means a lot coming from you. Indeed, it is beyond perplexing how it continues on…
I still prefer Cash, backed by gold and silver. Or go back to coins in common denominations. I put the CC up, I know too well what overuse causes, debt you find hard to pay off. Worse than a 30-year mortgage. We've been through it. The Military didn't make much in 58-78. Pensions are still low even after all these years.
Thanks for the comment. As for “when you create your own money..” that makes life easy for the elitists who get richer using that “money” machine. The average person, not part of that club, gets pushed to the back of the bus. A money system of intrinsic backing is resistant to inflation. Fractional banking is a legalized film flam scheme.