Most Americans think of the Federal Reserve – if at all – as owning much of the debt owed by the federal government, managing interest rates and setting monetary policy. As recently detailed here, the Fed actually owes much more debt than it owns. Who are the creditors to whom the Fed owes its debt? Those creditors are you and everyone in the world who hold dollars accepted as payment for labor, a product or a debt. You see, the dollar is a promissory note – not real money – although the promise inferred is hard to find in writing and may be hopeless to enforce in any court of law.
“Oversight of the Federal Communications Commission”
This coming Wednesday, June 12, the United States Senate Committee on Commerce, Science & Transportation is holding an Oversight Hearing, and the FCC commissioners are being called-upon to testify. This is an opportunity to submit questions about the safety of 5G, and to ask why current guidelines have not been updated in 23 years.
Please call and write the members of the Commerce, Science & Transportation committee with the following (suggested) questions for the FCC. Please do this before Tuesday:
Israel’s interference in 2016 US election to be probed by Senators
American lawmakers have summoned a British security consultant to probe Israel’s role in alleged Russian interference with the 2016 election, which has been the subject of a two-year long FBI investigation.
The Senate Intelligence Committee is seeking an interview with Walter Soriano, director of London-based security firm USG Security, to discuss what, if any, role Israel may have played in attempts to manipulate the 2016 election.
We originally posted this chart in February 2011, which we just updated also breaking out the real estate industry from FIRE (finance, insurance, and real estate). It is still just as shocking as it was back when we first produced it.
I have been following a number of alternative (which is to say, honest) economic minds for some years now, including Martin Armstrong, John Bogle (RIP), Ellen Brown, Karl Denninger, William Engdahl, Edgar Feige, William Greider, Wayne Jett and yes, Judy Shelton. She nailed it and our President was very wise to hear her out on gold-backed currency. I expect the US announcement any day now. Cancel the income tax and put in the APT Tax and agree with ASEAN and others that we must all nationalize our privately-owned Central Banks (but not their debt, which will remain the obligation of the private banks creating that debt), and it is GAME OVER.
Finally, after more than a century, Americans have installed a truly reform (some say revolutionary) administration in Washington to restore constitutional government. Urgently needed reforms include return to equal justice under law with full respect for the Bill of Rights, and return to sound money. Ending the Federal Reserve is essential, but “nationalization” would be a big mistake. The Fed is the world’s biggest debtor, and the federal government should not assume that debt.
It is imperative that we MUST eliminate the income tax. It is a purely a Marxist development that is destroying the world economy. The income tax has become such a tyranny that our liberty, freedom of movement, and world economic growth are all at great risk.
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The origin of the current income tax on individuals is generally cited as the passage of the 16th Amendment, passed by Congress on July 2, 1909, and ratified February 3, 1913. [PBI: It is possible neither the 16th nor the 17th Amendments were properly ratified].