Crisis of the dollar

Fractional reserve fiat paper money — what’s ahead

(Source Visual Capitalist))
Operators of a festival accept a donation from a Tennessee Valley Federal Credit Union, a depositor-owned group that trades in fractional reserve credit denominated in federal reserve paper dollars. (Photo TVFCU)

CHATTANOOGA, Tenn., June 17, 2022 — I’m gonna break this down so it’s easily understandable. We have a fractional reserve banking system.

By Mike Steel / NoogaRadio 96.9 FM

That means banks, credit unions and other lenders create money from thin air based on your “deposits.” We have a federal government that works with the private bank called the Federal Reserve System that issues currency. When the government wants to spend without directly taxing, it borrows money from the Federal Reserve, and in essence creates units of “purchasing power” or dollars.

When you have a lot of purchasing power individually and by government and a limited supply of goods and services, the bidding in the economy causes what appears to be prices rising when — in essence — since it takes more dollars to purchase those goods and services, the dollar is actually getting devalued.

An illustration from the Fed booklet, Modern Money Mechanics. (Federal Reserve Bank of Chicago, 1961,1994)

That coupled with no-growth negative GDP causes a recession. The Federal Reserve tries to correct that by making money more expensive. They’re limiting the supply in the economy, thereby stabilizing prices.

The problem is in modern-day America supply and demand is not only limited, there’s not only an increase in spending by the federal government, but goods and services are becoming more scarce.

Not to scare anyone, but this is a recipe for a depression.

Depressions are disastrous and could only occur with the central banking system in an out of control central government spending like “drunken sailors.”

When fraudulent notes used as money

When the crash occurs, many Americans will lose almost everything. Remember you own nothing. You own nothing because it’s impossible to pay for anything with debt. The currency you’re using is evidence of debt. Your so-called money in the bank is pure debt. A debt by definition is the undelivered portion of an exchange, thereby cannot also be the delivered portion of an exchange.

If there is a debt, there can be no ownership in goods or services.The bottom line is: These pricks in power have been lying to you. The Federal Reserve System’s paper money is one big fraud.

It’s a criminal act that makes organized crime look tame. It is also a major violation of our federal constitution. I tried to get this claim, before the supreme court in the 1980s. It’s still stuck at the Pennsylvania supreme court after my appeal.

Mike Steel

Every single lawyer in America — to include all politicians, elected officials, judges and the bureaucracy —are guilty of high treason. They are truly the enemy of us the American people.

They have been sucking your wealth dry for over 100 years. As they are saying, “You will soon wake up, own nothing and like it.” You see, dogs enjoy licking the hands of her masters. They will drive by in their limos, roll down the window and pat you on the head, praising you for riding your bike to work and “saving the environment.”

These occupiers of our constitutional republic — those we call “they” — must be purged.

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