Ron Paul is a courageous US Congressman calling for the abolition of the US Fed Res.See www.ronpaul.com/2009-01-60/its-time-to-abolish-the-fed-and-the-sec

Unlike our RBA the US Res Banking System is owned by a private cartell of banks.Currently the US is printing $ billions in the hope of propping up it's economy.The Fed Res conjures this money out of nothing ,then loans it to the US Govt at interest.The US $ will thus eventually collapse.

It is more than just mere rumour that there is a push by the US corporates to have a North American Union that would see Canada the USA and Mexico united under a single currency like Europe.

With the US $ on the verge of collapse,the pressure will be on to form this North American Community.It is thought that this new currency the Amero should be backed by gold and silver.This will give the Corps more access to the cheap labour of Mexico and the energy and resources of Canada.Rightfully the Canadians are not impressed.If the US Corporates get in early they can exchange their US $ for Ameros before the collapse,this again will leave the ordinary person carrying the can for corporate excesses.

If a new currency does eventuate,it should not be owned by the Fed Res but rather by the Govts of these three countries.

Arjay,

I'm aware of the powerful influence the Federal Reserve has on US policy and the World Economy but I think it's far too late to dismantle their system as it's a (if not the) major part of their political infrastructure.

Everything their government does has to go via the Fed because they hold all the money. All their taxes are paid into the Fed and their currency ("Federal Reserve Notes") is generated by the Fed.

The establishment of the Federal Reserve system was a tragic mistake but I don't realistically think it can be undone. It would take some sort of popular revolution or uprising and it's a bit early for that.

foolishly govt allowed the creatures from jeckle island to seize the fed[in a midnight sitting] but by luck or trick of fate there is a conveniant 'out' clause built into the sellout

govt can at anytime 'buy' back the fed for 44 point 4 billion us dollars[for the us fed reserve][this can easilly be done by treasury creating via the right of seignorage 12 coins with a combined face value of 44.4 billion [then using these to 'buy' back the fed]

i envision 12 plate size coins[much along the line of a movie called million dollar note[no one can cash it [but he did well on owing it] just as the 12 bankers now owning the fed are doing from their ursury built on govt intrest bearing bonds

[at the buy back naturally all debt owed by govt reverts back to govt
who then sustain the fed reserve system[supplying banks credit, for a simple transaction fee on all monetary transaction's, and of course spending govt moneys [adminestered by a state controlled board [from all member states]

the same SHOULD aply for each of the worlds feds
of course un talked about is the bankers have stolen our gold and silver reserves [even the reserves of gold

[they leased to each other at the set price of $44.44..cents per ounce[that is gone but might be the lever to give the peoples monetary system back to serving the people ursury free credit [all repayment goes to repaying debt[and debt creation is by having say 5 percent new money to establish the 'loaN' [just like it was pre the fed reserve theft

ps also payroll tax was installed [the tax goes straight to the fed[its a clever scam ,but we should also get a reduction in our tax by returning the fed back to govt[read the creatures from jeckle island that reveals the clever scam's roots]

we would pay bank fees [so banks have income] and retain the fiat currency [because the gold and silver has effectivly been privatised

also this quasi private /govt fiction has NEVER been audited[lol]
clever scamers eh?

there is a silence[indicating either ignorance or fear]so here is some more info

when your'parents'bought their land/house etc...they bought it for 300 pounds or so...that now equartes to $600 in todays money..BUT what is unspoken..[because so few remember]..is that a pound was a'PROMISE TO PAY BEAROR'one pound'sterling'

[that means promise/to/pay you in'SILVER'..[sterling-silver]..thus the 300 pound'house'your parents brought[for 300'pounds']..was 300/POUNDS[say 150 kilo's]..of STERLING grade silver]

there is two things regarding this important point..one your house today is still worth arround 300 pounds of silver..[yet in the non/promise to repay in real/silver,only,fiat paper,you get only silver COLOUR coin..[that looks like silver..[but is only nickle]

a yanki dollar;..is a unit of weight[arround,one ounce]
you may have heard of the indian/silver-dollar..[ie one ounce of #REAL SILVER[not cupro/nickle]

our SILVER[real-silver]coin was stolen from us[in 1966],when we got nickle/'silver'coins[we actually EXCHANGED for our real silver coinage]..and instead of our paper being..a PROMISE to'pay'in sterling-silver[it had printed on it''legal tender'']

the aussie fed stole YOUR SILVER,..and gave you nickle instead,..just as prior..they stole your gold[earlier a pound was a pound OF GOLD] but they stole that way before your parents time

anyhow the'amero'wont be based on gold..[you see one of the reasons given for going to nickle was that those in the know cashed in the promise to pay for the reaL THING..[REPORTEDLY THEY CORNERED THE SILVER MARKET]..,stole one third of our silver/then the fed stole it all

they took away our copper coins when the coper reached 5 cents of copper to make a two cent coin

[back in 66,..for those in the know[the,fed made the round 50 cent piece out of'real'silver,..to those who wanted their promise to pay paid in silver[not fiat-paper or nickle]

anyhow the scam is clever[those in the know cleaned up..[a two bob piece now costs arround two bucks,[the round 50 cent piece has been as high as 11 bucks]

after the war they halved the ammount of silver in coins..[pre 1948 silver is worth double post 48 silver]..but why bother explaining it to you oh so clever who think paper has any worth[who think the fed is govt owned]

Where did all the US Currency Go?
Have you Asked Your Government Official?
U.S Is Bankrupt

http://thecomingdepression.blogspot.com/2009/01/where-did-all-us-currency-go-have-you.html

According to the US Federal Reserve..(OWNERS of the FED HERE)

http://www.save-a-patriot.org/files/view/whofed.html

(A Private Company)900 BILLION in currency exists in this world today. Thats only about $3000 for every man woman and child in the US. Banks do NOT hold CASH.

(you and 10 of your friends go to the bank and ask for $2000 each, see what happens.)All the money is outside of the US.

That’s 1/2 outside of the country.! 450 billion. The other 450 BILLION is in drug dealing, the underground economy, and cash in mattresses etc. plus $1500 in your pocket.

Now the US owes over 10 trillion dollars(so the government states) but probably in excess of 57 TRILLION Dollars. If we only have 900 BILLION dollars in CURRENCY how can the Government state that we owe 10 trillion?

How can every man woman and child allow the “Government” to create money that doesn’t exist and SAY NOTHING? How can the OBAMA/BUSH camp create 700 Billion fake air filled dollars and distribute it to the criminal corporations to enjoy at will?

That would make MINUS 250 billion dollars left in the US! Did the printing presses of the Federal Reserve start up without anyone knowing, including the printer?

Are we all this STUPID? How long will this Private Company, THE FEDERAL RESERVE, click on their computer to create fake air filled dollars to keep the economy afloat? What will happen to INFLATION? We are all going to be NEW BILLIONAIRES within 2 years or less.

The FEDS just keep on “clicking” at will, without intervention. “If you and I run a Ponzi scheme, we get labelled as fraudsters. But when the fed runs a Ponzi scheme, it is said to be financing a deficit.”

Click here for the current account of the US and the rest of the world. Please scroll to the BOTTOM and view the US!

Bank Accounts https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html

http://thecomingdepression.blogspot.com/2009/01/where-did-all-us-currency-go-have-you.html

http://www.prisonplanet.com/bill-gross-weve-got-a-ponzi-style-economy.html
http://www.prisonplanet.com/citigroup-may-end-up-with-government-rescue-after-stock-skids.html

http://www.prisonplanet.com/how-to-bankrupt-a-nation.html
http://www.prisonplanet.com/hang-on-to-your-wallets-the-government-is-about-to-rescue-us.html
http://www.prisonplanet.com/the-government-has-given-banks-your-money-and-you-wont-get-anything-for-it.html

http://www.prisonplanet.com/former-vice-president-of-dallas-federal-reserve-failure-of-the-government-to-provide-more-information-about-bailout-could-signal-corrruption.html

http://www.prisonplanet.com/china-blames-wall-street-meltdown-on-fed-overissuance-of-currency.html
http://www.prisonplanet.com/dollar-advances-as-paulson-stresses-support-for-us-currency.html
http://www.prisonplanet.com/meet-the-worlds-new-currency-the-chinese-yuan.html

http://www.prisonplanet.com/where-did-the-feds-bailout-money-really-go-chart-shows-illegal-money-trail.html
http://www.prisonplanet.com/the-imf-can-print-money-like-a-central-bank.html

Wobbles,I don't think that the Fed collects taxes.However they do also steal the new GDP produced the US people each year by virtue of owning their currency.They then loan this GDP at interest to the US Govt.
It is actually against the US constitution for the Fed to own and print currency.I see no reason why congress cannot rescind the powers of Fed Res using the power of the US Constitution.

UOG,yes I've seen "Prison Planet".I can only hope that our humanity cannot become so base.Perhaps George Orwell was right.Our primary weakness seems to lust for power driven by our own ignorance and insecurity.

Arjay,
When the US Government wants money, it issues Bonds to the Fed which uses these to request money to be printed by the treasury.

It's not backed up or guaranteed by anything or anyone. It's only significance is that it is illegal to refuse currency in exchange for goods or services.

Look at a US banknote. It's labelled a "Federal Reserve Note".
http://konqueror.files.wordpress.com/2008/04/800px-one_us_dollar_note_0127_22.jpg

Only about 5% of money exists as cash. Most money created by the Fed is "virtual money".

Taxes collected are paid directly into the Fed and refunds are issued from the Fed.

Every financial transaction the US government makes -in or out - goes via the Fed.

If your last statement is true Wobbles,then the Fed Res is truely an abomination.They have gotten away with this for almost 100yrs.
It was Woodrow Wilson back in 1913 on the 22nd Dec that signed away the right of Congress to own the US currency.It was done on almost the eve of Christmas when few were there to witness it.Wilson was later to lament that he'd sold out his country.He had no idea of what he was signing.

Obama is just the olive branch to the US public.He has no knowledge of finance or economics.It is the Fed Res who have the real power and it is they who select maluable presidents.

JF Kennedy tried to break the power of the Fed Res and he was assassinated.The US only has the facade of democracy.It is actually run by a facist dictatorship called the Fed Res.

The lack of reponse to this discussion just demonstrates how ignorant the masses in our society are in the real world of their survival and quality of life.

Many topics in Gen Discussion are conecerned with a microcosm of some personal affliction or injustice,not the big picture which ultimately determines these personal afflictions in the first place.

I don't think that most people have clue,as to the economic steam train that will soon engulf us.Pray that there is a compassionate god,since many amongst our humanity will destroy all in their path for the sake of security and power.