The Federal Reserve is neither Federal nor a Reserve! It is one of the Greatest Scams of Alltime!

Episode 4: What Exactly is the Federal Reserve?

Some people still think that the Federal Reserve is a U.S. government institution. Nothing could be further from the truth. The Federal Reserve System is not a Government institution, department or agency!!

• It is a system of 12 privately-owned "federal" banks who have been granted their power by the United States government to create money, then loan that money back to the government charging interest.
• the government then charges you income tax to pay the interest on the debt.
• The Federal Reserve Act was passed in 1913.
• The Sixteenth Ammendment, which gave Congress the power to collect income taxes was also passed in 1913.
• The Fed is politically independent and the federal government does NOT HAVE DIRECT OVERSIGHT over what the Fed does.
• From its founding to this present day, the Fed has NEVER undergone a complete INDEPENDENT AUDIT. Congress has from time to time requested that the FED voluntarily submit to a complete audit, and EVERYTIME IT REFUSES.
• The Fed Chairman can say anything he wants to Congress and Congress has to accept what he says, because verification is not always possible because the Fed keeps certain records secret.
• Although the Fed is PRIVATELY OWNED it DOES NOT PAY a single solitary penny in business or property TAXES.

Next...Episode 5: The Plan