America Comes Clean in 2013- 2nd in a series. Federal Reserve System

I have embarked on a journey to find some truth to our current world situation.  Using Lance Armstrong's recent confession I believe it is time for the U.S. government to come clean.  Here is a list of items that I will start presenting to anyone that reads this blog to research on their own and determine what is true, yes or no.  It is that simple.  We need to start looking at these institutions and the people that control them.

1. Federal Reserve System
2. Military Industrial Complex
3. Energy Gas/Oil
4. Pharmaceuticals
5. Food/Water
6. Congress, Supreme Court, and Executive Branch


The first in my series regards the Federal Reserve Banking System.  Is it a Ponzi scheme, yes or no? If it is here is a sample of the consequences that should be applied.

Five years in prison for Stanford Ponzi scheme star witness

Iceland gives bankers 9 months in prison – while in the UK we knight them

Federal Reserve facts from Wikipedia

The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907.^{[2][3][4][5][6][7]} Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved.^[3][8] Events such as the Great Depression were major factors leading to changes in the system.^[9]

The Congress established three key objectives for monetary policy—maximum employment, stable prices, and moderate long-term interest rates—in the Federal Reserve Act.^[10] The first two objectives are sometimes referred to as the Federal Reserve's dual mandate.^[11] Its duties have expanded over the years, and today, according to official Federal Reserve documentation, include conducting the nation's monetary policy, supervising and regulating banking institutions, maintaining the stability of the financial system and providing financial services to depository institutions, the U.S. government, and foreign official institutions.^[12] The Fed also conducts research into the economy and releases numerous publications, such as the Beige Book.

Based in their charter have they done the following?

1. Maximum employment is being achieved, yes or no.

If you are able to get the true picture of employment in the U.S. it varies from what the labor department states and what is actual.  Here are a couple of websites to review for insight on how UN-employment stands.

As of December 2012 it is listed as 7.8% Bureau of Labor Statistics Jan 19, 2013.

If the unemployment rate was calculated the way BLS did it in 1994 and earlier, the unemployment and underemployment would be 22.5% (according to Shadowstats.com.)


2. Stable prices, yes or no.  See article below.

3. Moderate long-term interest rates, yes or no. See article below.

Article on the Federal Reserves last meeting:  Minutes

Time to get educated on what the Federal Reserve was supposed to do based on their charter and why we pay taxes to pay the interest on their governance of our current economic system.
 
Zurdo

 See this great article The Eleventh Marble.

THE ELEVENTH MARBLE

by Michael Rivero

Any five-year old child knows that if you put ten marbles into a tin can, you can only take ten marbles back out. No amount of wishful thinking, dreaming, or praying, will yield that eleventh marble from inside that can. That eleventh marble does not exist. It never did, and it never will. All discussions about the eleventh marble are the product of imagination. The eleventh marble is a fantasy.

Private central bankers issuing the public currency as interest-bearing loans operate on the belief that they can put ten marbles (dollars) into a tin can (the world) and magically get 11 marbles back out. Thus, we may conclude that the bankers are dumber than five-year old children! But unlike five-year old children, the bankers will take your home, your business, and your nation when they don't get that eleventh marble! The spoiled child may cry and throw a tantrum, but that will be the end of their upset. The spoiled banker, however, in his or her arrogant rage that they cannot have the eleventh marble their imagination says must still be in that tin can, may start a war before they will admit that eleventh marble was never really there.
Economies are like tin cans. Before you can take a marble out, you must have put a marble in. Nobody can give you a marble that does not exist, yet this simple reality is lost to the priests of that fantastic religion called "economics" in that unholiest of temples called the Private Central Bank. Their religious doctrine seems to be that there must always be an eleventh marble inside the tin can, and that the tin can unfairly withholds that eleventh marble, indeed cheats them of their right to the eleventh marble, purely out of spite. That faith in the existence of the eleventh marble, unseen and improvable, is the article of faith the religion of banking rests on. It is far easier to burn the heretics than to question the dogma.
Today we see the bankers, having already retrieved their ten marbles from the tin can, flogging the world for that missing eleventh marble. Greece does not have that eleventh marble, so they turn to Germany and ask, "Do you have an eleventh marble", and Germany replies, "Sorry, but the bankers already took the ten marbles they put in our tin can, and we are searching for an eleventh marble ourselves. Try the Americans." The Americans, of course, have only just surrendered the last of their ten marbles back to the bankers and are looking under seat cushions for that missing eleventh marble nobody seems able to find.
But the eleventh marble will never be found. After all that mayhem brought down on the tin can there still will be no eleventh marble. It does not exist. It never did, and it never will.
The problem with all modern reserve banking systems is that the moment the first bank note goes into circulation as the proceed of a loan at interest, more money is owed to the banks than actually exists. Ten marbles have been put into the tin can, but the bankers see 11 marbles owed back to them. Sooner or later the non-existence of that eleventh marble will create a crisis of faith. People will stop believing in the religion called private central banking, and that crisis of faith will bring the system crashing down, as did the Temple of Baal in ancient times when the Syrians saw through the priests' trickery. This evil magic of creating money out of debt was a fraud all along, as fraudulent and silly as the idea that one can put ten marbles into a tin can, and take out eleven.
In ages to come economists will look back at this failed experiment in debt-based currency, and dump it into the same category of human folly as Tulip mania, The Nation of Poyais, Credit Mobilier, the Great South Seas Company, and Mortgage-Backed Securities.

Money as Debt.