Thursday, January 07, 2010

Federal Reserve - The Central Bank of United States, a Cartel?!!

I was reading the online book "Conspiracy of the Rich" by Robert Kiyosaki and came across this paragraph:

"In 1913, the Federal Reserve was created, even though the founding fathers, creators of the U.S. Constitution, were very much against a national bank that controlled the money supply. Without proper financial education, few people know that the Federal Reserve is not federal or American, it has no reserves, and it is not a bank. Once the Fed was in place, there were two sets of rules when it came to money: One set of rules for people who work for money, and another set of rules for the rich who print money."

I was surprised to read that the central bank of a government, that prints money, is not a government institution. I googled further and found more about this. Here are few links:

1. http://www.progressiveu.org/201542-america-is-run-by-a-banking-cartel

2. http://www.panamalaw.org/the_historical_value_of_the_dollar_before_and_after_federal_reserve.html

And from the horse's mouth:
3. http://www.federalreserve.gov/pf/pdf/pf_complete.pdf (read last paragraph in page 2 i.e. pdf page 11)
Last line says "independent within the government". What does it mean? Say, I, an individual, am "independent within the family". Does it not mean that my family depends on me, but not the other way around? Also, practically speaking, does it not mean I can make my own decisions suiting my own interest even when it contradicts with my family's?

If this is the kind of setup in the most powerful and influential country in the world, where is it headed? And where are all the countries that are heavily dependent upon the United States headed?

God Bless America!