Quote:
Originally Posted by dirtpoorchris  It is news to a 23 year old 
I never knew about this.
It's really sad. |
Okay, fair enough. Our sense of history does tend to begin with our own birth.
Okay, here's a brief summary of a few key frauds being perpetrated today:
1) The government calculates deficits by adding up every dollar it takes in, even dollars which are not intended for inclusion in the general fund, and then figuring out how much it wants to spend, and taking the difference between the two.
2) The government finances deficits through the sale of treasury bonds, which is not Constitutional. The Federal Reserve often buys a portion of these (the size of the portion varies each time) with a check. That check is drawn against a bank account with no money in it. The money is invented at the time the check is deposited in the Federal government's bank account.
3) The Federal reserve is not the only entity to do this. Any time a bank loans money here in the United States, it does so by
creating it out of thin air. If any of
us did that, it would be called
counterfeiting.
4) The bank tells you, when you deposit your money in a savings account, that you can have it back whenever you want. This is not true. If everybody went and yanked their money out of the bank, it would destroy the banking system. You are told this lie because bankers are operating on the principle that if you think you can get your money whenever you want it, most people will
leave it in the bank.
They're right -- most of the time.
5) The government used to clearly define the criteria for measuring inflation and recession. The criteria for both of those important terms has been redefined to be as vague as possible so that it can be argued exactly how much inflation there is or whether or nor we're in a recession -- because ambiguity is the only way you can pretend everything's ducky when, in reality, it sucks.
I could keep going, but you get the idea.