The Coming Collapse of the U.S. Dollar and Federal Reserve?

By T.S. Phillips

Here’s another newsflash you may have read about before. About one hundred years ago, just before the Federal Reserve act of 1913, our nation was the most prosperous in the world. The U.S. had virtually no national debt. We had the largest middle class in the world and Mom stayed home to raise the kids!

What many Americans are still clueless about is that there is nothing “Federal” about the Federal Reserve and they have no reserves. They are a private corporation owned by private bankers. To illustrate how this monetary system operates. Let’s assume the U.S. government needs 10 billion dollars. The FRB (Federal Reserve Bank) prints 10 billion from their printing press and loans it to the government in exchange for a 10 billion bond. The government now owes 10 billion to the FRB, and to add insult to injury, owes interest on top of it. In fact, most of our taxes presently go towards paying only the interest from the debt we owe! In my opinion, the Federal Reserve system of banking is simply a monetary system designed to control and enslave the U.S. government and its citizens.

The Federal Reserve Act of 1913 came into law on Dec. 23rd, 1913 at 06:02PM, in Washington, DC. To quote former President Woodrow Wilson:

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”

-Woodrow Wilson, after signing the Federal Reserve into existence.