A letter from Dec 01, 2024

investigate the video 'the collapse of the amrican dream animation' and also investigate the reddit comment: https://www.reddit.com/r/conspiracy/comments/198itx/the_collapse_of_the_american_dream_explained_in/c8lyjoc/ if its unavailable then here is the comment: 3:00 That's the only way banks make money, by making debt loans. Actually, banks get about 40% of their income from fees and other noninterest sources. 06:22 Because no one is allowed inside the Fed. Not you, not me, no American citizen, The Federal Reserve is audited by outsiders, including the Government Accountability Office (GAO). The Chairman has to appear before Congress every six months. 7:15 The Fed is a private bank, owned by private shareholders. This place is about as federal as Federal Express. Part of the Federal Reserve System, the Board of Governors, is a Federal agency. It is part of the government. The Fed isn't one bank, but it includes 12 regional Federal Reserve Banks. While they are sort of private, they are nothing like any other private corporation. The stock can't be traded. Each regional Federal Reserve Bank's stock is owned by all the member banks in the region. The Fed tells each bank how must stock it must own, based on the member bank's balance sheet. The stock entitles the member bank to a dividend, but more stock does not give it more votes. Each bank has one vote for a class A director and one vote for a class B director. The large banks (in each region) choose two directors, the medium banks two, the small banks two, and the Board of Governors (the federal agency) chooses 3 directors. Besided the 6% dividend that banks get, all the profits go back to the Federal government. For example, in 2010, the Federal Reserve made $82 billion in profit and $79 billion of it went to the Federal government. So, both in terms of control and profit, the Fed is a mixture of private and public. It's certainly nothing like Federal Express. 7:30 The Fed loans banks money. While the Fed does loan banks money, those are only short-term loans and are not a significant source of the funds that are available for mortgages and other long-term loans. That money mostly comes from depositors. 8:15 [*Explanation of how money gets printed and sent to banks.] There's a lot of confusion between money and currency, the U.S. Mint and the Bureau of Engraving and Printing. I'll charitably chalk this up to it being a cartoon. 8:30 They print the money, then they loan it to the government, then they charge the government interest, then the government charges you to pay for it. The Federal Reserve doesn't loan money to the government, at least not directly. The Fed does buy Treasury bills on the open market, but it has never been the majority holder of government debt. At most (in the 1970s), it held around 20% of the federal debt. 13:25 Now, unlike Einstein, the goldsmith's discovery was kept a closely-guarded secret. It was never intended for you to see. This discovery is called fractional-reserve banking. Seriously? Maybe four hundred years ago this was a secret. Who doesn't know that banks lend out money as well as take in deposits? Here is how it was explained in It's a Wonderful Life, over 65 years ago: “No, but you’re thinking of this place all wrong, as if I had the money back in a safe. The money’s not here. Why, your money’s in Joe’s house… right next to yours. And in the Kennedy house, and Mrs. Macklin’s house, and a hundred others. Why, you’re lending them the money to build, and then, they’re going to pay it back to you as best they can. Now what are you going to do? Foreclose on them?” That's a badly kept secret. 16:15 Since that time, the English have been paying their national taxes directly to the Red Shield national bankers. Ummm... no. 16:07 Nathan Rothschild: “... I care not who makes its laws.” No Rothschild ever said that. 17:22 Thomas Jefferson: “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the very continent their Fathers conquered.” Jefferson never said that. It's a quote from the 1930s. The cartoon's account of the first Bank of the United States seems designed to mislead. The Rothschilds (Red Shield) had nothing to do with it. Jefferson was anti-Bank, but Aaron Burr was not. The duel had nothing to do with the Bank of the United States. The animation implies (via a mob with pitchforks and torches) that the Bank was unpopular and forcibly shut down. What really happened was that, when its charter expired in 1811, it was sold off to Stephen Girard. Unfortunately, the next year the U.S. was embroiled in War of 1812 and, after it was over, it was in debt and established a new Bank of the United States correct, but not this: 18:30 When asked what was the greatest accomplishment in his life, Old Hickory replied, “I ****** the bank”. And those were his last words. Sorry, nope. There's no evidence he ever said that, much less as his last words. 19:00 In 1910, a secret meeting was held ... While there was a secret meeting in 1910, I hope people realize that the depiction in the cartoon was, well, cartoonish. There were only seven attendees, not ten, and neither Rockefeller, nor Morgan, nor any Rothschild were there personally, although some of their associates were. They were trying to improve the financial system of the United States. Throughout the 19th and early 20th centuries, there were frequent financial panics which led to a lot of bank failures. This meeting was organized by Republican Senator Nelson Aldrich. 20:20 We shall christen it "Federal" ... the Federal Reserve. The proposal that came out of this meeting was known as the Aldrich plan. It proposed creating the National Reserve System, not the Federal Reserve System. It never came up for a vote in Congress. One of the main promises of Woodrow Wilson's "New Freedom" platform in the 1912 election was reform of the banking and monetary system. After he was elected and Democrats won control of both houses of Congress, Representative Carter Glass wrote a bill to create the Federal Reserve System. It had some similarites to the Aldrich plan, but also some differences, including more control by the Federal government and dividing the country into 12 districts with separate banks. 20:30 They struck on December 23, 1913, when most of our Congress were at home eating fruit cake. These ********—I mean bankers—presented their treasonous act to their newly elected accomplice, Woodrow Wilson, who had fortuitously already agreed to sign it before he was even elected. http://en.wikipedia.org/wiki/History_of_the_Federal_Reserve_System#The_enactment_of_the_Federal_Reserve_Act "After months of hearings, amendments, and debates the Federal Reserve Act passed Congress in December, 1913. The bill passed the House by an overwhelming majority of 298 to 60 on December 22, 1913[14] and passed the Senate the next day by a vote of 43 to 25.[15] An earlier version of the bill had passed the Senate 54 to 34,[16] but almost 30 senators had left for Christmas vacation by the time the final bill came to a vote." 20:40 [Implies "they" (bankers or Federal Reserve) were responsible for income tax. No, just not true. Bankers were mostly against the income tax. 21:30 Your taxes do not go to your government. Yes, they do. 24:00 John F. Kennedy: “For we are opposed around the world by a monolithic and ruthless conspiracy that relies primarily on covert means for expanding its sphere of influence.” Of course, Kennedy was talking about communism, not bankers. 24:32 On June 4, 1963, President Kennedy signed Executive Order 11110. This executive order empowered the U.S. Treasury to issue real money without the Fed. It would have worked. Kennedy's plan to dismantle the Federal Reserve machine had begun. Executive order 11110 was part of Kennedy's plan to get rid of silver certificates and replace them with Federal Reserve notes. It wasn't against the Federal Reserve in any way.