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During the time period when the Federal Reserve was created back in 1913, America’s laboring class people ___ plumbers, carpenters, electricians, store clerks, janitors, etc. ___ were paid in gold or silver coins, a real commodity having intrinsic value, or, they were paid with various forms of Federal Reserve Notes, each of which could be brought to the bank of issue and exchanged for the Note’s expressed face value, in gold or silver “dollars”. . . real material wealth!

Keep in mind, if you have $20 in your bank account today, and withdrew it, and the bank had to give you twenty silver dollars, you would be able to consume approximately what $300 in Federal Reserve notes now allows you to consume. This gives you an idea of how much purchasing power a person has lost since the introduction of the Federal Reserve System. And that loss in purchasing power is the gain of bankers who have seized control over the issuance of our nation’s money supply.

Getting back to our nation’s money history, eventually, working people who deposited their gold or silver coins, or Federal Reserve Notes which declared on their face were redeemable in gold or silver coins, when withdrawing their money, were handed Federal Reserve Notes which had a very clever change. These new Federal Reserve Notes circulated by the banks no longer guaranteed to be redeemable in gold or silver coins. But few, if any of the working people, realized the new Notes were no longer redeemable by Federal Reserve Banks in gold or silver coin.

Eventually, the Federal Reserve Banks switched all incoming Notes which were redeemable in gold or silver coin with Notes no longer redeemable in gold or silver coins, and this is how the Federal Reserve System swindled the American People out of their gold and silver, and now, having swindled America’s working people out of their gold and silver coins, an honest medium of exchange, the Federal Reserve rents Bank Note script to the public to conduct their business while bankers now live large by a thieving Fractional Reserve Banking system. The following video will explain this swindling operation which allows bankers to live large and consume the productivity of America’s labor and industries using the Federal Reserve System.


JWK

"Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man's field by the sweat of the poor man's brow."_____ Daniel Webster.
 
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