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An Institution Of The Most Deadly Hostility

May 12, 2011 by  

The Federal Reserve has presided over the death of the dollar, which is now in its final spiral.

When the Federal Reserve opened in 1914, an ounce of gold equaled $18.99. Today, it takes more than 1,500 fiat dollars to buy that same ounce.

In 2008, the banking industry became a shambles thanks to the bursting of the housing bubble, which had been created by the Fed’s easy-money policies. The nation’s largest banks — and some foreign banks as well — knew the government would bail them out of their troubles, so they played fast and loose with their credit by lending to people who had no means of paying the loans even if the economy prospered, and they swapped bad debt among themselves in a giant Ponzi scheme.

Today, thousands of U.S. homeowners find themselves either underwater on their mortgages, behind on their mortgage payments or out on the street thanks to a foreclosure. Official unemployment stands at 9 percent, but actual unemployment is nearer 22 percent. And, according to the National Inflation Association, “Since 1970, Americans have experienced a 50 percent decline in their standard of living due to the Federal Reserve’s dangerous and destructive monetary policies.”

While the 2008 crash and the slow — or nonexistent — recovery came as a surprise to many, including the failed Fed Chairman Helicopter Ben Bernanke, his minions at the Federal Reserve and the elites in Washington, it is not a surprise to some. In fact, the nation was warned of such a result by Thomas Jefferson.

“The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution,” he wrote. “I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.”

After the collapse is complete and we begin to rebuild out of the ruins of this failed financial system, perhaps we can do so without a central bank.

Bob Livingston

is an ultra-conservative American and author of The Bob Livingston Letter™, founded in 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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  • Richard

    Jefferson deserves even more credit than he gets for exceptional intellectualism. His scientific experiments were extraordinary. His fight against the horrific Federalists should be continued by all today.

  • Former Walmart person

    Andrew Jackson spent his whole presidency fighting against the creation of a central bank – and he was victorious. He kept a central bank away on his watch. How was he honored by the federal reserve? They slapped him on to a $20 bill. What an insult.


    The fed is ruining the status of the dollar and we are losing our ability to find lending institutions because they are drying up and the big banks are consolidating the competiton. Canada was going broke because of this type of economics and finally came to grips with the non expansion and their government being controlled by five major banks…we had better get a grip too and get back to free market capitalism.

  • james

    cannot spend more than we have, must cut spending, entitlements, big government, foster entrepenuership

  • Freddie

    The Fed is illegal by our origins. If our government wanted to right the wrongs, they would freeze all of the assets from the people that are “in” The Fed, try and convict, and then execute The Fed from our Nation. Then take all of the frozen assets and reinstitute the gold standard with that money; the price of gold would probably go down once The Fed was executed.

  • Rob

    Good article… I only disagree with one point. I believe those at the fed, imf, etc not only knew about the coming bust but purposely created it. It was set up to be a back door theft of what little wealth and property was left in private hands. Now the “government” holds most of the defaulted property, and the bankers involved made tons of money off this preplanned back-room deal with the government… that is if they don’t simply have the government in a stranglehold and just told them what to do.

  • Wildcat from Dallastown, PA

    The FED is definitely the primary organization I would like to see having all its records seized at all their locations across the country simultaneously by Secret Service SWAT teams about 1500 hours ET. Take the FED officers in custody at an undisclosed location where they are given three hots (sic) and a cot, with all outside communications cut off as financial forensic investigators go over the treasure trove of information. Keep the officers of the FED available to clarify entries in the records and otherwise explain what the thinking behind their decisions was and to identify any and all connections to current and former Presidents as well as Wall Street financial firms.

    Then close down the FED to include repeal of the law that created the FED in the first place. If I remember correctly the primary reason (or excuse) the Progressives gave to the people and Congress running up to the creation of the FED was that having a central banking system would prevent bank failures. Well, not so fast as Canada didn’t have one during the Great Depression yet they had NO bank failures and we had lots of bank failures during that same depression.

  • Wili Dtz

    Cut off their heads with a hacksaw, and kick them down the street, as a lesson to all.

  • s c

    It’s not easy trying to get children (progressives, etc.) to understand what’s so wrong with the Fed. Conservatives don’t have to be lectured on the topic. “Others” might look at it this way.
    Think of the Fed as an institution run by people who claim to be loyal, card-carrying progressives.
    Truth be told, they have their own agenda. Taking care of you, your kids, your family or your friends is NOT ‘in the cards.’ The back-stabbers at the Fed will do what they’re told. They are NOT your friends. They never were. GOT IT?


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