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The federal reserve banking system has been disigned by bankers to ensure the population is constantly caught up in a cycle of self generating debt that can never be paid off, yet the government has the power to control the circulation of money itself rather than borrow it from a privately run bank at interest. Will either party address this issue?"

The steps to shutting it down would be to figure out who is going to take over the many services of the Fed, then have congress change the law.

However, you are unlikely to get much support unless you can present accurate arguments.

- "caught up in a cycle of self generating debt" – The decision to go into debt, whether public or private is not up to the Fed. It is up to individuals, businesses, and governments. For instance, if the government consistently passed balanced budgets, there would be no public debt.

Now you could make the argument that before we had a flexible money supply, we had boom-bust cycles rather than 'debt cycles'. Boom-and-bust cycles ffectively 'cancelled' debt with foreclosures and bankruptcies on a routine basis.

Our current system provides for a money supply that can expand with the economy. Perfect? No, but the Boom/bust cycles of yesteryear are less frequent and, for the most part, replaced by up-and-down cycles. In the past, an economic shock like the sub-prime crisis or 1987 stock market crash would have likely triggered a 'bank panic' and subsequent recession. Today flexible money can be pumped in rapidly to restore confidence.

- "that can never be paid off" – of course it can and then may be replaced by new investments.

There is some nonsense in the anti-fed camp that mathematically our national debt it can never be paid off. You didn't say that so no reason to go into it.

If congress passed a balanced budget 10 years in a row (the life of a 10-year T-BIll), our public debt would be paid off leaving only the interagency obligations.

- " circulation of money itself rather than borrow it from a privately run bank at interest" – There is a lot implied here…

Are you arguing that the government should print money to pay for expenses, rather than run balanced budgets or borrow? Our current deficit runs at about $400B. The base money supply grew by less than $50B last year. You would be advocating growing the money supply by 8x the current non-inflationary rate. Read up on cause of hyperinflation.

re "private bank with interest" – By design, the Treasury never borrows money directly from the Federal Reserve (except once in WWII) . The Fed only buys T-Bills on the open market. And when the Fed owns a T-bIll and earns interest, it returns 90%+ of it back to the Treasury (it's the law).

You imply that the Federal Reserve system is wholly private which is a myth. See http://www.federalreserveeducation.org/fed101/structure/ for the structure.

I commend you for wanting to be an advocate for positive change. But make sure it is founded in facts and not simply anti-fed rhetoric.

http://www.donharrold.net

I ask again, “When will CNBC do the right thing and get rid of Jim Cramer?” Jim’s advice on Bear Stearns (NYSE:BSC) is is most horrific since, well, since the dot-com disasters he shuffled folks into. Look, it’s just getting too easy to point this stuff out. But, hold on, my video here is 10 minutes of other stuff too. Jim’s just a symptom of a larger problem. Our founding fathers would be ashamed of how we’ve handed our economy to the federal reserve.

Duration : 0:9:59

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I am curious how the Federal Reserve comes up with the interest rates. What factors do they consider? Thanks in advance.

It really comes down to two things:

1) is inflation under control
2) is there excessive capacity in the economy

You can read the minutes from the Fed meetings for exactly what sort of things they considered for any particular meeting

http://www.federalreserve.gov/fomc/#calendars

JOIN AN UNDERCOVER TEAM OF INVESTIGATIVE JOURNALISTS AS THEY TAKE ON TODAY’S MANAGED NEWS IN AN EXPLOSIVE SERIES ON THE BIGGEST COVER-UPS AND CONSPIRACIES OF OUR TIME. LEARN THE SECRET HISORY OF THE FEDERAL RESERVE

Duration : 0:3:9

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My source is the Ludwig Von Mises Institute .No one can tell
me that the Federal Reserve is not a private bank .Furthermore ,the people who have criticized me in the
past for asking a similar question have only cited the Federal
Reserve as their source .People tell me that I am uninformed
regarding the Federal Reserve .Those people ought to get
a clue !!!!!!
Grayshadow said that the Federal
Reserve is not a private bank .

the FEDERAL RESERVE has always admitted that it is a private corporation , who questioned that? Woodrow Wilson was tricked into selling the FEDERAL RESERVE IN 1913 and he went to his death bed begging the people of America to forgive him for his stupid and evil doings, and against our constitution, read our constitution,

What would happen if the IRS and the Federal Reserve were abolished?

The economy would begin a long process of recovery from the damage caused by the Federal Reserve, and unelected central bankers would no longer hold unchecked power over our government and all of our commerce.

The transition would not be pleasant, since the current illusion of prosperity is the result of the artificial bubbles and additional currency created by the Fed. At any time, the Fed could pull the plug on our entire economy, which is no power that should have ever been granted to private bankers in the first place. In their absence, things will get worse before they get better, and the bankers and elitists will be sure to blame it on the absence of the Fed, but I assure you it will have been the result of the long-term damage done by the Fed while it existed!

The IRS never had a right to exist in the first place, and it would not be missed. Since The Fed was disbanded too, there would be no need for the Income Tax OR the IRS, since the IRS collects income tax in order to pay private bankers for the interest charged to the Treasury on currency created by the Federal Reserve. If the Treasury issued its own currency, the income tax would not be necessary.

All other government programs would continue being funded, as they always have been, through other sources (state and local taxes, apportioned taxes, commodity taxes etc.), and now that the Fed and IRS are gone, the taxpayers would have a lot more $$$ leftover to pay into extra programs for their own communities, if they chose to. Not only that, but in the absence of the Fed, the government could return to a sound monetary policy instead of our current fractional reserve system which causes inflation and inevitable devaluation of currency.

The Treasury would regain its rightful Constitutional authority to issue its own currency, without any interest, and hope would be restored to America.

The economy would begin to stabilize, and the middle class would begin to flourish again like it once did.

I (among many others) anticipate an interest rate cut at the next Federal Reserve meeting in two weeks. I'm interested in a house and want to make an offer, but I'm hesitant to do so because I don't want to be locked in before a rate cut for obvious reasons.

Could I put a statement in the Real Estate contract addendum such as "Seller will accept pre-approved buyer's offer, but will not require financial arrangements until September 20,2007."?

How long after a rate cut will it take for lenders to lower their rates?

Advice?

the rate cut is only for short term long term mortgages will have little noticeable effect. They base it more on your credit history and how much you can put down than the fed reserve.

Even Cavuto realizes Ron Paul is a true fiscal conservative.

http://video.google.com/videoplay?docid=6507136891691870450

Duration : 0:4:38

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Surley, it goes against human rights when citizens pay taxes into a privately owned Bank? The Federal reserve is owned by a few private individuals! All Taxes should be paid into and monitored by a Proper Tax department. Not by International Bankers!!

Aw, aren't conspiracy theorists cute? Take a bunch of unrelated facts, mix them all together and out spews nothing resembling the truth.

First, taxes are paid to the government. The IRS, which is a government agency, collects those taxes.

Second, the statement, "The Federal Reserve is owned by a few private individuals", has absolutely no basis in fact. The Federal Reserve was created by a law passed by Congress. It is governed by a Board of Governors, which are appointed by the President and confirmed by the Senate. This is similar to the appointment of federal judges and some other federal positions. There are twelve district banks under the Board of Governors. These banks are setup SIMILAR to corporations and are given corporate powers so they can be INDEPENDENT of political influence. Subscription to shares of the Federal Reserve district bank stock is a REQUIREMENT OF MEMBERSHIP in the Federal Reserve system. Private individuals, corporations, foreign governments, etc. are not allowed to buy or hold Federal Reserve stock. The only holders of Federal Reserve district bank stock are nationally chartered banks and some state chartered banks. BY LAW, ALL NATIONALLY-CHARTERED BANKS ARE REQUIRED TO SUBSCRIBE to Federal Reserve district bank stock. The amount they must subscribe to is set by law to a percentage of their paid-in capital. They may hold no more and no less than the required amount. They may not trade, sell, or even give away the stock they hold. The stock has a set par value of $100 per share and it does not change in value. The stock does not confer any rights of ownership beyond the par value. If a district bank were to be dissolved, the member banks would be reimbursed for their shares plus any unpaid dividend. All other assets would become the responsibility of the U.S. Government. This is in accordance to LAW.

http://www.law.cornell.edu/uscode/html/uscode12/usc_sup_01_12_10_3.html

The only tax money that goes to the Federal Reserve is the amount paid in interest on the small amount of U.S. Government debt held by the Federal Reserve. Once the Federal Reserve has paid its expenses, the excess amount (approximately 80% to 95%) is returned to the U.S. Treasury. This can clearly be seen on the independently audited financial statements of the Federal Reserve.

http://www.federalreserve.gov/boarddocs/rptcongress/annual07/pdf/audits.pdf

In 2007, the Federal Reserve collected $40.3 billion in interest from the U.S. Government on the securities it holds. It returned to the U.S. Treasury $34.6 billion.

Why is the federal reserve as well as the income tax considered unconstitutional by some?
Thanks for all answers in advance!

Question #86

Question(s) that have been deleted by me because they weren't numbered right- numbers 2, 16

Question(s) that have been found to be violations- numbers 40, 76

Question(s) that were deleted because no one answered them- none yet

Because people are stupid. They want all the services the government provides, but don't want to pay for it. All the tax avoiders and tax cheats are stealing money from you and I. For every dollar they don't pay or steal by filing false taxes, means we have to pay more. If people think that income taxes are illegal, stop driving on the roads. Jerks, all of them. I wish we could ship these lazy scum of the earth to Cuba or France. Get rid of these people. Waste of space and oxygen.