When mentioning the Federal Reserve, most Americans have no idea that it even exists. Those that do know of its existence think it simply sets interest rates and helps the economy — but they are wrong. And, thanks to the efforts of Ron Paul over the last few decades, that ignorance about what the Fed does is diminishing. Now, his son Sen. Rand Paul (R-KY), is going to carry on his father’s legacy.
Paul is calling for an audit of the federal reserve, the first in national history since the reserve came into existence in 1913, signed into law by Woodrow Wilson. But the Federal Reserve Act of 1913 wasn’t introduced as a bill by Congress. Instead, the bill was drafted in secret on Jekyll Island, Georgia, in 1910. Often the retreat for billionaires, Jekyll Island was the playground for the nation’s richest 1 percent.
According to one source, those in attendance were, “Senator Nelson Aldrich, his personal secretary Arthur Shelton, former Harvard University professor of economics Dr. A. Piatt Andrew, J.P. Morgan & Co. partner Henry P. Davison, National City Bank president Frank A. Vanderlip and Kuhn, Loeb, and Co. partner Paul M. Warburg.”
These elite men had five objectives, all bad ideas reminiscent of a drug cartel, or an oil cartel like OPEC, but focused more on monetary control. The following five objectives were used to establish the Federal Reserve.
- Stop growing competition from banks
- Obtain franchise to create money
- Get control of all banks’ reserves
- Shift losses to taxpayers
- Convince Congress of its purpose
There are no elected officials in charge of running the Fed. Also, the Fed is privately owned but no one knows by whom because the Fed is not accountable to anyone, not even the government of the United States.
Paul wishes to end all of that and expose the Fed for what it really does, and how it really manages the country’s money supply. So far, he hasn’t had any luck, even though both he and his father have been calling for accountability for years.
According to ZeroHedge, Senator Rand Paul, together with Rep. Thomas Massie on Wednesday “called for the re-introduced legislation to ‘Audit the Fed’, after a similar effort stalled in the last Congress.”
Paul feels he may have a better chance of seeing an audit of The Fed, now that Republicans control not only a majority in both the House and the Senate, but also control the presidency as well. It’s a long-shot to think that the establishment will go against their corporate employers and political masters, but Rand has fired the warning shot across the bow of the Fed’s big ship. Rand reportedly said, “The U.S. House has responded to the American people by passing Audit the Fed multiple times, and President-elect Trump has stated his support for an audit. Let’s send him the bill this Congress.”
Source/The Free Thought Project