Econ and the Federal Reserve Bank
There is a conspiracy theory out there about the Federal Reserve Bank. The idea is that even though the US won the war against England, for independence, that England used banking strategies to take over the country. The main reason for England to want the US was primarily for monetary gain. The act of taking over the main Federal Reserve Bank would give England the power to control the country and profit handsomely.
Private Control
The Federal Reserve Bank is under private control. There are a few families that own this bank. This bank is the one that loans all monies to the government and also has the power to print money. Some of these families are the Rothschilds, Rockefellers, and Morgans. The Federal Reserve is actually legally its own country and does not have to follow US law.
Auditing the Federal Reserve Bank
Many senators and government officials have tried to get an audit of the Federal Reserve Bank and been shot down each time. President Bill Clinton ordered an audit and it was mysteriously undone. The senator, Ron Paul, believes strongly that the Federal Reserve should be audited and is a strong supporter of the conspiracy theory about the bank.
The Power to Print Money
Here is a good question. If you have the power to print money, how can you be in debt? You can argue that too much money, in the system, will cause inflation. However, what kind of idiot would borrow money to pay back money they could simply print on paper? Nobody would do that. If you were concerned about inflation, you may only pay back a portion at a time, but you would never borrow money when you have the power to print money.
US Goes Bankrupt
According to presidential candidate Bo Gritz, the US government has already been bankrupt to these private Federal Reserve owners. The deal was made that the money would be printed and paid back at face value of printing plus interest. In other words, somebody prints hundreds of dollar bills and then makes the citizens pay it back and with interest. It has made these private families rich beyond belief. Bo Gritz thought that the people should bring in a big pile of gold and pay off the bankers once and for all.
Andrew Jackson
This idea isn't new. The US president Andrew Jackson believed strongly that a central bank was evil. He personally took apart the Federal Bank because he thought it was too damaging to the people. What ensued was a strong economic expansion.
Abraham Lincoln
When the North needed more funds, Abraham Lincoln went to the bank and the interest rates were very high. He knew that the debt would be a huge burden. He then made a landmark decision. Abraham Lincoln decided to just print money and use what they had. And, his solution did work. The North was able to pay their debts and get what they needed without huge debts. There are many conspiracy theorists that believe Abraham Lincoln was killed because of what he did in banking and not for other reasons.
Economics Professors
You can ask any economics professor or any senator about this and none of them can give you a straight answer. The main idea people come up with is that they just don't understand it and it all just works out. There are, however, a few mainstream people like senator Ron Paul that believes in the Federal Reserve conspiracy. It used to be that only a few “weird” people believe in the theory. However, nowadays, the theory is becoming more widespread.
The Bailout
The government gave huge corporations big bailout money. The government doesn't have a surplus. They simply printed the money to create it. Why then are the American People required to pay back the printed money? The money is already going into the economy. Inflation will shortly ensue. The damage has been done. How then can Americans be required to pay back for printing money?
Final
The truth is that nobody really understands the conspiracy theory. People don't want to believe it is true and so they are happier by thinking up pleasant non realities. Find someone that has spent their life in banking and you will get the same answer. Well, it doesn't make sense, but it all works out. Sure, it works out for those that own the Federal Reserve Bank.
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