Doran Peck 
Member since May 5, 2011


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Re: “Debt Limit Deadline Extended, But Decision Looms

Well, considering that the debt is owed to the Federal Reserve - A private civilian corporation, nothing more than a money broker who printed the money out of thin air and then loaned it to the Government - I'd say the Government ought to be able to just tell the Fed to go take a hike and zero out the debt.

The Fed did nothing to earn the money it loaned us. No labor was exchanged for the creation of their money which they loaned us. No Gold was used to account for the money which they acquired and then loaned to us.

So really...they lose nothing if we zero out the debt. Every penny we've paid them since day one ( 88 years ago ) has been pure profit for the individuals who own that company.

This begs the question...So why does the Federal Reserve even have the ability to create money and loan it to the government?

The answer is...They SHOULDN'T because it is explicitly forbiden in the constitution for any 3rd party to manage the countries money - But they DO because politicians have been corrupt since day one and figured out a way to personally benefit from such an arrangement.

If you want the economic troubles of our country to correct themselves, then demand that your leaders ( on all levels) get rid of the Federal Reserve.

DP

Posted by Doran Peck on 05/05/2011 at 4:23 PM

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