Federal Reserve has ruined economy

The NATO summit will soon take place and the protesters will be out in force. It’s important that they not only protest peacefully, but they should do so intelligently. To that end, they should be targeting the party most responsible for all our economic woes and economic collapse. Their protest should target the Federal Reserve Bank in Chicago.

The FRB and the banks are the unindicted co-conspirators of our economic fiasco. Many believe it is a federal entity. It is not. It was created by Congress to oversee our monetary system. It is a privately owned banking cartel that has no accountability to anyone.

The amoeba-brained Board of Governors, presidents and vice presidents of the various seven reserve bank districts have driven the U.S. economy into the proverbial toilet. This operation has overseen the dollar losing 95 percent of its value since the FRB was created on Dec. 23, 1913, under the Federal Reserve Act. The FRB and the banking system have the power to create money and are perpetrating a Ponzi scheme on the American people.

It is basically a debt-based financial system. The amount of money is never equal to the larger amount of debt created. They essentially have a monopoly on the creation of debt-based money. They favor the large banks and other large institutions and tell the small failing banks to join a large bank or fold.

That is the problem in the U.S. today. Small business, the life-preserver of the U.S. economy, is being wiped out by the financial heavyweights with the full blessing of the FRB.

It’s time to get rid of the FRB before it destroys America forever. The NATO protesters need to target the real villain in America.

Tony Novak

Arlington Heights