Carrying Capacity Network Action Alert

April, 2009

E-ALERT

Carrying Capacity Network

ASAP! Coalition E-Alert

ABOLISH THE FED! US TREASURY INSTEAD!!

[Also see "A Guest Editorial"]

 

Why is Carrying Capacity Network asking you to support its new 'Abolish the Fed' front-line Initiative? Here's why:

We have asked ourselves why 35 years of work to stop mass immigration and create a Sustainable USA for the long-term has thus far been unsuccessful. A Strategic Cause is that Immigration 'Reform' Groups have not united to push a zero-net-immigration Moratorium -- the only policy which can possibly succeed in reducing mass immigration. 

Here, however, we focus on a Fundamental Cause. The effort to establish a sustainable population and economy have failed thus far because we are fighting the ideology of limitless growth. This ideology is essential to the profitability of the privately owned for-profit financial giant: The Federal Reserve. 

THE FEDERAL RESERVE-LED MEGA-BANK CARTEL WORKS AGAINST CONSERVATION AND POPULATION STABILIZATION and against the well-being of citizens and smaller banks as well. This cartel depends on earning interest on its loans. Thus the economy must continuously grow in order to earn the interest portion of debt repayment. The ideology of limitless growth that has been infused into our culture serves the purposes of the Fed but is the underlying cause of failure to introduce sustainable policies.


INTRODUCTION


Carrying Capacity Network is taking on The Fed-led cartel. We are complementing our longtime goals of immigration reduction, U.S. population stabilization, national revitalization, economic sustainability and resource conservation with the essential plank: Abolishing the Federal Reserve which profits from unsustainable growth, and which must have continuous growth to live. 

The Federal Reserve has to keep debt-financed growth going because that is the well-spring of its profit, power and wealth. However, no single one of a conservationist's long term goals can be attained so long as the main source of capital is debt. A more stable and sustainable society can be attained by returning to the traditional method of financing investment, which is equity accumulated through savings.  Congress created the Federal Reserve in 1913. In advocating BRINGING TO AN END the Federal Reserve's charter in the United States, and having its functions assumed by the U.S. Treasury (a process President Kennedy initiated), we join with many scholars, action groups and financial experts including legendary investor Jim Rogers and a few astute and honest politicians including Congressman Ron Paul [R-TX], 2008 candidate for President. 

NEW, TO COMPLEMENT CONSERVATION, SUSTAINABILITY, NATIONAL REVITALIZATION AND US POPULATION STABILIZATION GOALS


Carrying Capacity Network is launching the 'Abolish the Fed' Initiative as an essential complement to its longtime goals.
This position paper describes the Federal Reserve central banking system and why it works against American well-being:

THE FED creates money out of thin air and then loans it to U.S. taxpayers at interest. The more Debt that is created, the more profit for the Fed and its favored financial institutions. And the less that Americans are able to benefit from their own work and thrift.

The U.S. Taxpayer's debt to the Fed and allied banking partners is already so large that it is unlikely to be repaid without destroying the economy. The warning signs that increasing debt levels are exceeding the carrying capacity of the economy are reflected in recent and ongoing financial and economic crises, crises for which The Fed's structure and policies are, arguably, the primary cause.

Various analysts suggest that the size of the debt is beyond repayment through higher taxation. So the debt will be repaid by the Federal Reserve's creating vast quantities of new money. 

Enormous creation of new money, or 'quantitive easing,' is on track to destroy the purchasing power of the U.S. Dollar. The destruction of purchasing power occurs through price inflation, and amounts to a massive and ever-increasing Stealth Tax on Americans. 

Since this Fed Beast was created in 1913, over 95% of the U.S. Dollar's purchasing power has been destroyed. A dollar today buys what 5 cents bought in 1913. The value of savings has been devastated.

 

THE CARTEL

 

The private, for-profit Federal Reserve banking cartel was, in 1913, given the privilege of controlling our Nation's money supply. The cartel is substantially owned by foreign interests, as described by G. Edward Griffin, author of "The Creature from Jekyll Island, A Second Look at the Federal Reserve" and also in Paul Grignon's video, "Money as Debt" : http://video.google.com/videoplay?docid=638447372044116845&hl=en

 

Under the system designed by Paul Warburg and ratified by Congress in 1913, the Fed accepts debt instruments from the federal government, makes a book entry which credits the government with new funds, and thus creates money out of thin air. The system is so simple as to be unbelievable. To repeat: The Fed accepts US government Bills, Notes or Bonds and creates money by crediting the US government account with their face value. Taxpayers are obligated to repay this loan plus interest although this is fiat money [money backed by nothing tangible] that the Fed created for free out of thin air.

An alternate method of money creation has the Fed holding private member-bank assets to fulfill these banks' 'reserve requirements.' The reserves entitle member banks to create money out of thin air by making loans to the public.

Concretely, the bank need have on deposit with the Federal Reserve roughly 10% of the fiat money it intends to loan. So, if a borrower receives a $10,000 loan, $1,000 of that represents reserves and the remaining $9,000 is created out of thin air using simple book entries*. This is the essence of fractional reserve banking. The only real value in the transaction is the borrower's pledge to work hard and produce in order to pay back principal PLUS interest.

In either case, all money represents debt. Not only principal but also interest is owed to the originator of the loan, be that a local bank or the Federal Reserve-led cartel. All borrowers are competing to earn both principal AND interest to repay the loans. 

As counter-intuitive as it may seem on the surface, here is the crucial point: The requirement to repay with interest builds in an ever-increasing shortage of money. The irony of ironies is that money creation through debt causes a continuing and increasing shortage of money.

Perpetual shortage of fiat money translates into a perpetual drive for growth. While perpetual growth in ideas is possible, perpetual growth in the manufacture and throughput of tangible goods in the economy is not. At some point the attempted increase in throughput of things exceeds the carrying capacity of the environment, as pointed out by eminent steady-state economist Professor Herman Daly.

Among the several warning signs that the optimum carrying capacity of the environment is being exceeded by increasing throughput of material goods are increasing pollution, crowding, threats to food and resource supplies, and infrastructure breakdown. The Fed's for-profit system of Debt-Money requires perpetual growth, which flies in the face of carrying capacity realities. 

Over the past few decades, who has wondered at receiving three credit card offers per week in the mail? Who wondered at falling interest rates for some borrowers, and increasing credit card rates for others. And who facilitated granting loans to increasingly unqualified borrowers who sometimes a received 120 % loan on a piece of property of dubious worth? Did we ever wonder at why banks competed to find new borrowers among those illegally in the U.S. without even social security numbers to demonstrate their legitimate employment status? Why did certain mega-Banks rush to accept Mexican government issued Matricula Consular cards as identification? Why are bank customers not asked for a Social Security number if they use the 'Press 2 for Spanish' option?

Did we ever wonder that our borders remained wide open and our population continued to increase despite some 80% of Americans objecting and despite scarcity of new, good jobs?

Now you know one major cause. The Fed-created debt- money system requires continual growth.

Growth in debt and in an unsustainable throughput of goods harms the average US citizens. Nevertheless, as described in Griffin's "The Creature from Jekyll Island", the system is a quite profitable arrangement for certain of the Fed's stockholders.

The Federal Reserve Cartel founders were a collection of gentlemen including JP Morgan and Rockefeller associates, who met secretly in 1911 at Jekyll Island off the coast of Georgia to review recommendations for the central bank charter. The legislation was drafted by Paul Warburg, recent immigrant to the US and representative of the European Rothschild banking family. The Bill was passed on December 23, 1913, so close to Christmas that many Senators and Representatives had left Washington D.C. and did not vote.

 

CONCLUSION

 

Contrary to the widespread view that, through management of the money supply and interest rates, the Federal Reserve acts for the economic well being of the United States, many scholars and economists suggest that the central bank works against every Good that the majority of citizens desire for their country. These Goods include each and every one of CCN's main goals of population stabilization, immigration reduction, economic sustainability, resource conservation, and national revitalization. 

The system of debt money is an obstacle to the attainment of these goals. The Federal Reserve cartel's underwriting of government debt as well as support for fractional reserve banking drive the ideology and fact of perpetual growth. The total needing to be repaid is principal plus something, and that "plus something" can only come from growth in productivity and/or population growth. Economic growth is the result of either (or both) greater productivity per capita, or a larger population. 

Population growth is the easier avenue and, further, satisfies certain employers' wishes for cheap labor. Not surprisingly, open borders and ever-increasing legal immigration have political support. Mass immigration has been the strategy-of-choice. Powerful interests repeatedly opt for growing the U.S. population regardless of the harm to the average American citizen and to the environment. 

The Federal Reserve system that bases the economy on debt-money is the root cause of the drive for growth. CCN advocates the Dissolution of the FEDERAL RESERVE. The Treasury should resume responsibility for the monetary functions assigned to it by the Constitution.

Join Today! Carrying Capacity Network's Campaign to "Abolish The Fed! U.S. Treasury Instead!"

 

It is essential that we Abolish The Fed before our Economy, Financial System, and Environment are irreparably damaged. Please Donate to CCN NOW by visiting www.carryingcapacity.org.

 

And then write your Representatives in Congress and tell them to support:

1) the 'Audit The Fed' Bill H.R. 1207 (55 Members of Congress already sponsored this bill) and


2) the 'Abolish The Fed' Bill--H.R.2755


Please Donate to Carrying Capacity Network Now, before your Fed-issued Fiat Currency becomes even Less Valuable!

 

............................

 

*After the $10,000 loan to a customer, the bank Balance Sheet reflects $10,000 deposited into the borrower's account, although $9,000 of that was created out of thin air. The deposit is carried as Liability to the bank. The borrower's promise to repay with interest is carried as an Asset to the bank.

 

REFERENCES

 

"The Creature from Jekyll Island, A Second Look at the Federal Reserve." G. Edward Griffin, American Media. Westlake Village, CA July, 1994. "The Money Masters. How Banks Create the World's Money." DVD Royalty Production Company. Immokalee, FL Copyright 1998, 2005. www.Moneymasters.com

"The Federal Reserve's Blueprint for Market Intervention" by James Turk January 16, 2009. http://www.lemetropolecafe.com/matisse_table.cfm?pid=7540

"Bernanke Paints Himself into a Corner" by Robert P. Murphy January 27, 2009 http://www.dailyreckoning.com/bernanke-paints-himself-into-a-corner/

 

 

EPILOGUE

 

A simple but brilliantly produced video by Canadian Paul Grignon, “Money as Debt”, contains the basic elements of how the central banking system operates.  http://video.google.com/videoplay?docid=-9050474362583451279 

(We understand that Google has taken down this video although it was the most watched video on money and banking in the world. An alternate site is You Tube which can be viewed in five parts, starting here: http://www.youtube.com/watch?v=vVkFb26u9g8 .  If that has been taken down, try: http://www.viddler.com/explore/alogoskoufis/videos/1/ which is in English with Greek subtitles. The powers-that-be really do not want you to see this video! 

 

Paul Grignon's website is found here:  http://www.moneyasdebt.net/  Grignon writes, "It is my intention to make this mysterious debt-money system comprehensible to everyone. It is also my intention to foster sufficient understanding of the problems with this money system that citizens will be motivated to join the monetary reform movement and/or create local alternatives to the global monetary system - a system in which most of the productive people of the world are collectively chained to an ever-increasing and perpetually unpayable debt."

 

He continues, "This is a system designed for elite control of the people by those who have given themselves the privilege of creating money. It is also, I believe, a system that is designed for catastrophe. As the movie explains, there can be no sustainable civilization without a sustainable money system."

 

Grignon's video illustrates how perpetual growth is necessary to the life of the private, for-profit Federal Reserve Cartel. Hence, reducing immigration runs counter to the Fed's need for growth. When we wish to stabilize population, we must realize that the best-moneyed lobbyists work to prevent the cessation of growth. When we seek economic sustainability and resource conservation, we must realize again that only perpetual growth keeps the gears of the Fed running. National revitalization and sustainability become unachievable as long as the Federal Reserve's Central Banking scheme continues, because sustainability and perpetual growth are not compatible. 

 

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  • Note: CCN is anti-mass immigration but NOT anti-immigrant.


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