Note: This open letter to Hillsdale President Ann was sent to me by a reader who also sent the recent article on the Federal Reserve for Dummies to Mr. Arnn.
Dear Mr. Arnn,
Your plea for support to educate the public on the adverse effects of Socialism has been noted. It is respectfully submitted the adverse effects are not from the manifestations of Socialism but from the method of financing the government enforcement of imposed social benefits.
The benevolence of homo sapiens is visible in every natural tragedy. The physical involvement to assist the victims, and the received financial gifts freely offered witness the love and compassion for unknown victims of tragedy. But when government becomes involved, with forced extractions to fund the benevolence, the methods of financing become extortion with corruption and not love.
Governments have developed methods of confiscation of the public’s wealth without touching the pocketbook of each individual. One such method may be called deficit spending. Ginsberg has identified the forefathers of the USA system resulted in chaos and social ruin for more than 800 years. Tayyab Mahmud’s lengthy analysis has concluded financial entities consistently receive great benefits from recent financial collapse. Let us turn to the financial structure imposed on the USA some 100 years ago.
A cabal of gentlemen, consisting of a powerful senator, a European financial mogul, and several Wall Street financiers secluded themselves on Jekyll Island for a week and developed a format of what became the Federal Reserve. (Fed) The operation of the Fed requires the U.S. Treasury to issue a deficit spending Treasury security to it and the Fed will enter credit to a government account in that amount which the government can spend. The Fed magician will then palm the deficit spending Treasury security from public view.
The writing pasted below (the article on the Federal Reserve for Dummies) traces the path of wealth from the palmed security. That amount, one trillion dollars annually at 2020, which amounted to $3000 for every man, woman, and child in the USA, has been multiplied by a factor of seven in the past 100 days. The national debt is now over $85,0000 per person. That value is analyzed to be received by select Primary Dealers in violation of a charter provision that all profit of the venture belongs to the government. That would appear to be embezzlement.
Your institute has extensive expertise in business, accounting, law, public exposure, and a unique awareness of oppressive government. Is the investigation of this theory, to avoid a catastrophic social collapse and impoverishment, of interest to you ?