Topic: Federal Reserve Act

Clint Richardson reflects on his past support for the U.S. Constitution and Ron Paul, noting how his research into the Federal Reserve Act changed his perspective. He describes various "matrixes" of thought, from mainstream to alternative, that prevent individuals from reaching objective reality.

The Democracy Collaborative and the Public Banking Institute are working to establish a national public banking framework to eliminate "too big to fail" institutions. Despite over 25 active bills in states like California and New York, significant roadblocks remain, including the need for Federal Reserve backing. Current laws, such as the Federal Reserve Act, prevent the government from creating money directly when it spends, a point of contention within Modern Monetary Theory.

Xavier Hayes discusses the 1913 establishment of the Federal Reserve and the theory that opposition to the central bank was silenced by the sinking of the Titanic. The narrative traces banking influence back to Alexander Hamilton and the Rothschild family, suggesting the War of 1812 was a direct consequence of the U.S. failing to renew a central bank charter. This conflict resulted in the British burning the White House before a sudden hurricane forced their retreat.

The real U.S. unemployment rate is estimated at nearly 23% based on Shadow Government Statistics, suggesting a Great Depression-level crisis. The discussion advocates for the repeal of the Federal Reserve Act of 1913 to return credit-creation power to Congress. A $3 trillion national infrastructure deficit is highlighted as a consequence of bailing out Wall Street banks instead of investing in the domestic economy.

The establishment of the Federal Reserve in 1913 followed a series of failed attempts to maintain a central bank in the United States, most notably defeated by Andrew Jackson in the 1830s. Following the Panic of 1907, elite bankers held a secret meeting at Jekyll Island, Georgia, to draft the legislation and plan a massive propaganda campaign. The bill was eventually pushed through Congress during the Christmas Eve weekend of 1913 when many opponents were absent.

The Gold Act of 1934 forced Americans to surrender their gold to the Federal Reserve, which then profited by raising the price of gold shortly after. Since the last audit in the 1950s, the gold in Fort Knox has allegedly been shifted to Federal Reserve vaults to serve as collateral for national debt. During the Reagan administration, attempts to return to the gold standard were thwarted by red tape and the discovery that the gold was no longer under government control.

Bill Still, creator of "The Money Masters," will discuss the 100th anniversary of the Federal Reserve Act. Hall recounts the secret 1910 meeting at Jekyll Island where the central bank was forged, leading to the United States becoming the world's largest debtor nation.