July 13, 2001
Dear Newswatch Magazine Listeners/Readers:
T he Constitution of the United States says in no uncertain words that ONLY congress has the power to coin money and regulate its value. One of the Ten Planks of the Communist Manifesto was that they wanted to create a Central Bank to issue all credit - whether to the government or the private citizen. This way, they could control the destiny of the nation and its citizens for THEIR PURPOSES. One of the first questions asked former President Ronald Reagan at his first press conference was what he would do with the high interest rates left over from the Jimmy Carter Administration. His truthful and correct answer was he could do nothing. Interest rates were set by the Federal Reserve System, which is an autonomous organization answerable to NO one, for their own purposes.
The Federal Reserve System of Banks creates money out of thin air and has NO DEBT. This was given to them as a privilege in 1913 with the passage of the Federal Reserve Act; yet the United States government BORROWS every cent of its money FROM the Federal Reserve and is floundering IN debt. Don't believe one word from congress or the president when they say they are paying off the national debt!!! The Congress has relinquished its sovereign authority to create and control the medium of exchange [money] in this country. Congress should be REQUIRED to explain why they would give up that authority! After all, I thought this was a "government OF the people, FOR the people, and BY the people." I'm finding that is only a delusion. This is a nation "OF the Federal Reserve, FOR the Federal Reserve, and BY the Federal Reserve."
Not one cent comes into existence in the United States WITHOUT it being borrowed through a Federal Reserve Bank. Laws were passed years ago that required ALL banks to become members of the Federal Reserve Banking System. This way, the Federal Reserve Banks, through Alan Greenspan, its chairman, could set all interest rates. No independent banks could be in competition with them. After all, THEY are working for world government and must be able to control the only opposition - the American people. They are striving to redistribute the wealth AWAY from the U.S. to third and fourth world countries. This will eventually make everyone in the world equally poor.
There are many proposals to FIX things in this country. Making the income tax system more equitable, abolish the Internal Revenue Service altogether, replace the income tax with a general sales tax, or a flat tax. All these items have been proposed before by Presidents Carter and Reagan to no avail. Senator Phil Gramm [TX] and Representative Armey [TX] hold PhD degrees in economics while Representative Bill Archer [TX] is a lawyer and an expert on tax matters with many years of experience on the Ways & Means Committee. These have made proposals to "correct" our economics in this country. Yet, NOT ONE HAS EVEN BREATHED THAT THE FEDERAL RESERVE SYSTEM IS THE PROBLEM AND ILLEGAL. Not one has proposed ABOLISHING the Federal Reserve and TAKING BACK its authority to create money and regulate its value as the Constitution states.
NONE OF THESE POLITICIANS have ever determined that it is mathematically IMPOSSIBLE to balance the budget of a DEBT-CREDIT system. All these politicians ignore the FACT that the only currency to transact business by foreign trade and internally is by the Federal Reserve Note which comes into existence ONLY through the creation of debt - borrowing - and the principle only is created, NOT money to repay the interest. You CANNOT repay both principle and interest when the interest has never come into existence. Many people will suffer bankruptcies and economic setbacks.
Either many of our "experts" and congressmen/women are ignorant of the above facts or they are aiding the system of money lenders who control the economy of the nation. IT CANNOT BE REPAIRED. THERE MUST BE A RETURN TO LEGAL NON-INTEREST BEARING MONEY ISSUED BY CONGRESS!!! What an absolute privilege to write checks that NEVER bounce. Notice question number 47 in the congressional report issued by the House Committee on Banking and Currency in 1964 - "Where does the Federal Reserve get the money with which to create bank reserves?" The answer: "It doesn't get the money, it creates it. When the Federal Reserve write a check, it is creating money. This can result in an increase in bank reserves - a demand deposit - or in cash; if the customer prefers cash, he can demand Federal Reserve Notes, and the Federal Reserve will have the Treasury Department print them. The Federal Reserve is a TOTAL MONEYMAKING MACHINE. It can issue money or checks. AND IT NEVER HAS A PROBLEM OF MAKING ITS CHECKS GOOD BECAUSE IT CAN OBTAIN THE $5 AND $10 BILLS NECESSARY TO COVER THE CHECKS SIMPLY BY ASKING THE Treasury Department's Bureau of Engraving TO PRINT THEM" (Money Facts - 169 Questions and Answers on Money - A Supplement to A Primer on Money with Index, Subcommittee on Domestic Finance, Committee on Banking and Currency, House of Representatives, 88th Congress 2nd Session, September 21, 1964).
America needs to return to the true God of the Bible - Jesus Christ - if it ever is to survive this economic slavery imposed upon it by those working for a World Government and the loss of our sovereignity.
Sincerely,
David J. Smith
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