History: 100 Years Ago Today, The Federal Reserve Was Created
This is the anniversary of the Federal Reserve, yet few know its history which leaves them at a disadvantage economically.
One Hundred Years Of The Federal Reserve By Ben Swann
Before Central Banks
Our Founding Fathers referred to what we now call the Federal Reserve as the Central Bank.
In ancient times most lived off their land producing food while others produced goods and services. They had no need for money because they bartered between each other (chickens, cows, shells, precious metals, ext…things anyone had access to. No one held a monopoly on the money source…. “free market capitalism”)
But it made for an unreliable labor force because most people preferred to work for themselves, and had little need to work for others on a permanent basis. The British and Dutch, in need of a labor force on their plantations located in various Colonies, concocted a brilliant plan. Folks, they decided to tax those “free roamers” for their land. But the catch was this: they could not pay for it with bartering (things like cows, chickens and precious metals…things that anyone had access to if they were willing to work for it.) they must pay their taxes by money that only the British and Dutch central banks could issue (Much like the Federal Reserve issues today, it is something only a handful of elitists have control of, and power to issue. )
The plan worked brilliantly. Crony Capitalism was born (and does not survive without the federal Reserve) . People who would not be loyal to the plantation owners must now work for them to obtain this solely central bank issued money just to keep their own land. Andrew Jackson was so against the Central Banks that he referred to them as a “den of thieves” They openly spoke about their plan in the news papers (news article from the 1800s): http://paperspast.natlib.govt.nz/cgi-bin/paperspast?a=d&d=THD18840522.2.31