Ron Paul told MSNBC that the Federal Reserve is actually more powerful than Congress.....
On July 1, 1914 (a few months after the Fed was created) the U.S. national debt was 2.9 billion dollars.
Today, it is more than more than 5000 times larger.
### Banks that received ''out of thin air'' loans from the FED in recent years........
Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion
### The Federal Reserve Is Paying Banks Not To Lend Money
Section 128 of the Emergency Economic Stabilization Act of 2008 allows the Federal Reserve to pay interest on "excess reserves" that U.S. banks park at the Fed.
The amount of "excess reserves" parked at the Fed has gone from nearly nothing to over USD1.5 TRILLION since 2008....
### The Federal Reserve System Is A Privately Owned Banking Cartel
>> When it was defending itself under the Freedom of Information Act, the Federal Reserve stated unequivocally in court that it was "not an agency" of the federal government and therefore not subject to the Freedom of Information Act.
In fact, all you have to do is go to the Federal Reserve website....
Thomas Edison was quoted in the New York Times as saying....
Henry Ford and i think it is stupid that for the loan of $30M of their own money the people of the United States should be compelled to pay $66M — with interest. People who will not contribute a pound of material will collect more money from the United States than will the people who supply the material and do the work.
In all our bond issues the interest is always greater than the principal. All of the great public works cost more than twice the actual cost, on that account. Under the present system of doing business we simply add 120 to 150 per cent, to the stated cost.
### If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good.