No BS Financial Freedom .com

by James Quinn
March 11, 2009

[Excerpt from Grand Illusion- The Federal Reserve]

“The average American does not know much about the Federal Reserve. The government and the Federal Reserve prefer to operate in the shadows. If the American public understood what their policies have done to their lives, they would be rioting in the streets. Henry Ford had a similar opinion:

“It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”

Most Americans believe that the Federal Reserve is part of the government. They are wrong. It is a privately held corporation owned by stockholders. The Federal Reserve System is owned by the largest banks in the United States. There are Class A,B, and C shareholders. The owner banks and their shares in the Federal Reserve are a secret. Why is this a secret? It is likely that the biggest banks in the country are the major shareholders. Does this explain why Citicorp, Bank of America and JP Morgan, despite being insolvent, are being propped up by Ben Bernanke and Timothy Geithner?

The history of National Banks in the United States has been controversial since the Founding Fathers signed the Declaration of Independence. The Constitution of the United States unequivocally states that only Congress has the authority to coin money, not an independent bank owned by unknown bankers.

The Congress shall have Power to coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures
Article 1, Section 8 – US Constitution

Our most recent horrifying experience with an all powerful central bank has led to the current worldwide financial crisis. In less than one century the Federal Reserve Bank of the United States has destroyed our currency and has allowed bankers to gain unwarranted power over the country. They had the ability and opportunity to bring down the worldwide financial system.”

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I do not trust what is happening with the dollar. The Federal Reserve has continued to print more an more currency not backed by anything but people putting their trust in small green pieces of paper.

All of these government bailouts you may be hearing about…seems to me full of arrogance and hubris. All these billions of imaginary dollars printed from thin air.

Each imaginary dollar printed decreases the buying power of the money already out there. And this cycle won’t stop until people no longer put their trust in it. Eventually, the bubble will pop, and I anticipate it having a knockout punch to the economy of the United States.

Once the dollar crashes, everyone will come running to the “safe haven” of precious metals, but by then the buying power of gold and silver will have skyrocketed. Time and time again, when a government has gone off the gold standard this pattern has repeated itself.

Gold and silver will take the cake as they always do.

That is one reason why my intention is to build up a gold and silver reserve. This year, I would like to contribute a few hundred dollars to investing these metals every month. Growing this until I will eventually be converting thousands of dollars into these metals at a time. The more I collect, the stronger the magnet will be in attracting more gold and silver.

I intend to make this a solid, continuous, and ongoing habit-strengthening the holdings every month until I eventually need to store them in various third party vaults around the world.

There is going to be an immense transfer of wealth in the upcoming years, and I intend to be ready for it.

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