Federal Reserve?

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

Banking

Under fractional lending, banks are only required to have 10 percent in reserve, which means they can “lend” out $100 for every $10 they actually posses. This is why all economic debates between Republicans and Democrats are meaningless; they don’t address the core issue, which is that 90 percent of all principal in circulation from various loans is counterfeit and was created out of thin air. Obviously, as such, it can never be retrieved, and every penny of the usurious interest rates on every loan is imaginary, again conjured up out of nothing.

Donald Jeffries, Hidden History: An Expose of Modern Crimes, Conspiracies, and Cover-up in American Politics, pg.318-319