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16 y
Re: goitrogen
Wrong.
Before the Federal Reserve was put in place the U.S. Congress printed its own money FREE of interest and backed by a true asset (gold).
When the Federal Reserve came in, the U.S. Congress turned over the power to print money to the Fed. Because the Federal Reserve is a private organization of bankers, and not a governmental agency, we are required (the government) to borrow every dollar they issue at an interest. This means that the Federal Reserve owns the U.S. government.
They engineered this crisis, and WANT inflation. The reason we have hyper inflation is because this currency is not backed by anything tangible. They are free to print as much money of thin air as they want to, and that is the reason for inflation.
What happens if everyone has a billion dollars? It becomes worthless.
That is the problem. The fed's solution to everything is to lower interest rates and print as much money as they want to.
What needs to happen is the Fed needs to be abolished and this country needs to go back to printing its own money, that should also be gold backed in order to prevent inflation. Congress, according to the Constitution, has the authority to create and issue its own currency, regardless of the Federal Reserve.