The Federal Reserve – readers comment on benefits and negative impacts

Special to the Mountain News –

In the recent political commentaries at the Mountain News, a discussion has erupted on the value of the Federal Reserve. Below is an introductory essay on “The Fed” from contributing author Steve Klein, and readers are encouraged to respond in the commentary section:


Briefly in answer to your question about my comments:

The “elephant in the room” is the massive debt and the money the government has to borrow to pay the interest on that debt, the exact issue Republicans decried under Obama, yet Obama left office with the trends of decreasing the debt. Watch for Trump to attempt to discredit Democrats by declassifying docs and try to get Hillary locked up that will embarrass them mainly as a distraction, however I do not see he has the backbone to release UFO info the government has, nor free energy details, nor do away with the Federal Reserve banking system. If Trump got rid of the Fed, his family empire’s whole house of debt-supported cards comes tumbling down, and in my view, he is too much of a narcissist to risk his family’s fortunes to save his country. Though if he does, I’ll be firmly in his corner.

“The Federal Reserve” system was created on December 23, 1913 by an illegal act of Congress, illegal because so many in Congress had already left Washington, D. C., for their long train rides home for the Christmas holiday and there was not a majority of them for the vote. Article 1, Section 8 of the Constitution of the United States says that only Congress has the power:

“To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”

The power to regulate our country’s economy was given away to a private corporation (The Federal Reserve) which was to be paid in gold by the U. S. Government for their services, and never audited, conditions which still exists to this day. The Federal Reserve is NOT a federal agency, and has “Federal” as part of their name as a deception to the public, in my view. Former Rep. Ron Paul (R-TX) was and is the champion of disseminating the truth about this information and calling for an audit of “The Fed.” All of the economic upheavals since 1913 have been engendered by the Federal Reserve.

The President of the United States can do away with the Federal Reserve by the stroke of a pen via Executive Order and return this country’s monetary system to one of strength backed by gold. That would result in much unrest and a hemorrhage in the markets and a hardship for most Americans for several years, though would lead to a future of sovereignty. Every President who has attempted to get this country out from under the cloak of the international banking cartel established in the late 1700’s (i.e. Rothschilds), has been assassinated or had an attempt on his life. The last President who was working on returning governmental power to this country’s monetary system and returning such to the people was Reagan, and an attempt to assassinate him occurred in March 1981.

Bottom line:

So many right-leaning groups have said President Trump will be the one to do away with the Federal Reserve. We’ll see.

Steve-Klein-1, headshot, 11. 7. 18

Steve Klein, Editor and Founder on the Yelm Community Blog

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6 Responses to The Federal Reserve – readers comment on benefits and negative impacts

  1. I am interested in your ‘opinion’…just ‘how’ do you think we move forward…Bruce/Steve?
    As a individual working within my means to be sovereign.
    No debt and food/water and a bit of gold tucked away for ‘a rainy day’ and knowing there is no government going to ‘save me’ in the immediate or long haul.
    So, the situation seems to lean toward Mother Nature and Extraterrestrial …. ‘help’?

    • brucesmith49 says:

      I don’t think the “Space Brothers” are going to come and save us. Rather, I think we have to go into the cosmos and make friends. I think we’ll have to greatly mobilize our abilities in consciousness to do that – transcending time and space and foreignness to make that journey. I think that is where our future lays.

      Also, I’m not a big opponent to the Federal Reserve. Yes, it’s a foreign corporation and not any part of our actual government, but it does seem to regulate some aspects of the world economy in a reasonable manner. Yes, it didn’t prevent the Great Depression of the 1930s, and it didn’t prevent the Great Recession of 2008, but generally the wheels stay on the bus.

  2. Okay, so where do the ‘demons’ lay…
    A Federal Reserve not having to audit?
    Who is protecting who’s a**?
    The 2008 government bail-out to what…if the Reserve is a private owned island?
    What ‘fat cat’ really owns us?

  3. Thank you…
    This will be my homework today.
    I appreciate the information.

  4. brucesmith49 says:

    Editor’s Note:
    The following description of the Federal Reserve is provided by a friend of MN reader, Jane Hachfeld. The author is Bill Gore, and re-posted here with his permission.


    The Federal Reserve (FR) is like the 4th arm of the government. There are a lot of simple explanations of what it does (See Wikipedia) but they don’t tell you what is happening. Unfortunately, it is like the other 3 branches: no one really knows what is going to happen (it is beyond human control) but we are able to guess at what they are trying to accomplish (before the divine dice are rolled and we end up with the unexpected). So, I look for their intent to see what is happening (are they (government, corporations, military, etc.) trying to be fair, just, empathetic to all life and nature etc.). What the FR did after 2008 to try and prevent a melt down of the economy helped over the last 8 years but it has left some real problems (4 trillion in made up money). What should be the next steps?

    I watched the Ron Paul 2016 YouTube FR video and it is vintage Ron Paul. He gives a lot of really good information and while I don’t always agree with his solutions (always less government) I find his concerns to be thoughtful and legitimate. I challenge myself to think about how can we have decent: health care, educations systems, nature reserves and democratic control over big corporations and still address Ron’s concerns about the problems of out of control government and I include out of control corruption, military and corporations. We need good goals, no corruption and a balance in all things.

    Eustace Mullins is an extremist. Examples: Holocaust is overblown, and the Jews did the same to Christians. He rants against the Jews and feels that they lead a conspiracy to rule the world through the Federal reserve. I choose to ignore him and his type as they blame the world’s problems on the other tribes. In his case the Jews. The Jews are no more or less corrupt than the rest of us. So, to me it is not helpful to look for a conspiracy which may include Jews and then claim our problems will be solved if we banish/blame/exterminate that tribe.

    An interesting book is The Ascent of Money, A Financial History of the World by Niall Ferguson. It is readable and gives a pretty good picture of the financial engines and their effects. And a history of FR efforts, some effective and some not so good.

    I apologize for the long winded response. The question just pushed a button that interests me, but which is not simple to summarize.


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