Staff Writer, R. Patrick ChapmanGovernment / Federal Reserve Act
How the Sixty-Third Congress. Session II. Chapters 4-6: The Federal Reserve Act - Dec. 23, 1913 document shows how the Federal Reserve was already plotting the demise the US Dollar before the Great Depression:
Elastic currency -- Elastic currency is currency the volume of which would be regulated automatically by the demands of business. Can you say Qualitative Easing?
Rediscounting Commercial Paper -- An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories and meeting short-term liabilities. Maturities on commercial paper rarely range any longer than 270 days. The debt is usually issued at a discount, reflecting prevailing market interest rates. Can you say Stock Market gambling with the dollar without the need of that pesky SEC?
How the dollar has been devalued as commercial paper:
How much lower is today's dollar value? In 1913 you could buy as much with a dollar as you can with $23.63 in 2014, more than 100 years later. By 1920, the dollar had lost about half its value, and was worth $11.48 in today's value. Deflation (the opposite of inflation) during the Great Depression of 1929 increased the value of the dollar to $13.43. By 1940, the dollar was worth even more -- it could buy as much as $16.40 could today.
By 1950, the dollar's value had dropped even lower than before the Depression. It was worth only $9.53. It has fallen ever since:
1960 = $7.76
1970 = $5.92
1980 = $2.79
1990 = $1.76
2000 = $1.33
2010 - $1.05.(Source: CPI Inflation Calculator)
Why did we need a private corporation overseeing our monetary system? Because the ploy of problem reaction solution to privatized American interests for a complete takeover of the United States appears to be the goal.
Corporate agents within the government cause havoc and public mistrust in the so-called incompetent government. The people outcry is met with a predetermined solution: private corporations will fix the corruption and return the country to a better way of life. However, corporations do not have the best interest of the People in mind. Corporations have shareholders, stakeholders, and in the case of the Federal Reserve banking system intertwined families. It is all about profit.
For more information, read the VDP Gazette's article: Who is Running America?
Because it certainly is not the American People.
Source: Congressional Record , Teach Me Finance, Investopedia, About News