The “Fed” in Federal Reserve is purposefully misleading; the Federal Reserve is a private corporation, not a government agency. Of course, most people don’t even know that, let alone understand the concept of fractional banking, which is legal counterfeiting. How many people in the course of history have been sentenced to prison for doing what every bank does routinely? When you hear the candidates, and their mouthpieces in the mainstream media, bemoaning the “debt” we must pay, remember how our system really works. That debt is not the responsibility of the taxpayers; why should the public assume the incomprehensible loans that bankers brokered from Communist China, for instance? In reality, we need to repudiate the interest on the national debt and force the banks to manage their own faulty business transactions.
Donald Jeffries, Hidden History: An Expose of Modern Crimes, Conspiracies, and Cover-up in American Politics, pg.319
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