The bank then sells these bonds to the Federal Reserve, which has zero dollars in the checkbook they use to buy these bonds and then the currency appears into existence. The banks then go right back to the treasury and buy more bonds to repeat the process. A check is also an IOU, thus the banks are used as the middlemen and the Federal Reserve and treasury are just swapping IOUs. They are creating debt-based currency. As said before, our currency the process of taking money from the future, or money that has yet to exist, and spending it now. Banks profit from this cycle and indebts the public by increasing the national debt. Now the treasury takes this money and deposits it into various branches of the government, which spend this currency on public programs, war, health care …show more content…
These bills were backed by silver so in practice one could trade the bill for some real silver. Although the bill will technically put the Federal Reserve out of business, the Federal Reserve is so powerful it will just find a loophole to survive. In essence, a revolution needs to take place in order to once again have a government for the people, by the