Does anyone understand Federal Reserve Notes ... or "quantitative easing" ?? ... or why Euros were worth something more than zero when they were floated??
A "note" is a promise to pay a debt. Federal Reserve is a private bank, a consortium of private banks. Curiously, it is also a quasi government institution, as it is an act of Congress. Quantitative easing is creating fictitious money out of nothing and flooding the system with it to stimulate the economy.
And yeah, I get your point.
You describe the system in summary quite well, now would you like to describe how/why it works? I don't understand it.
Powerful banking interests wrote the Federal Reserve Act. They met in secret in a little island off the coast of Georgia and planned how they can take over the United States. Congress passed the Federal Reserve Act in 1913 on Christmas. Basically, under this law, congress cedes its constitutional delegation to coin its money and transfers it the Fed. When congress needs money, it goes to a private bank, the Fed, and borrows it. The Fed creates this money out of thin air. It does not exist. The Fed lends this money to Congress. Guess who pays it back with interest? The tax payers. Why would a government borrow money from a private bank instead of issuing its own?
So basically, under this scheme, tax payers pay the Fed the principal and interest on money that does not exist. To help pay this money back, congress passed the Fedral income tax. The Fed is composed of all the big banks and they make huge profits and control the government.
On a similar, though separate note, fractional reserve banking allows banks to use ten percent reserves of depositors to lend out an additional 90% (though it may be even worse now than in the past.) So say I have $1000.00 in the bank. The bank will take that money, and lend it out, with an additional 90% more to a borrower. Where, you ask, does the bank get this additional 90%? It creates it out of nothing. The money does not exist.
Now consider the ramifications. I collect peanuts in interest for my $1000.00. The bank not only lends this money out, but they add an additional 90% to a borrower. When the borrower pays it back, the back makes an outstanding profit.
This is a scam--pure and simple.
