Monday, November 19, 2012

Why We Should Abolish the Federal Reserve

5:29 PM
Some shocking statistics from Creature from Jekyll Island:
  •  In 2001, national debt consumed 19% of all federal revenue, or $5000 per American household
  • By 1992, more than half of all federal outlays went for what are known as entitlements....Entitlements are expenses...(Social Security, Medicare) which are based on the promise of future payments.
  • Federal taxes now take 40% of our private incomes. State, county and local taxes are on top of that...Real wages in America have declined.
Reasons to abolish the Federal Reserve:
  • It is incapable of achieving its stated objectives.
  • It is a cartel operating against the public interest.
  • It is the supreme instrument of usury.
  • It generates our most unfair tax.
  • It encourages war.
  • It destabilizes the economy.
  • It is an instrument of totalitarianism.
What you can do to protect yourself from the next downturn:
  • Get out of debt.
  • Pick a sound bank.
  • Diversify your investments....Study the fields in which you invest. Personal knowledge is indispensable....Stay with what you know
  • Avoid the most recent "best performers...." They have no bearing on future performance....They may now be overpriced.
  • Maintain a stash of and water....Hope for the best; prepare for the worst.


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