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AMEND Federal Reserve Charter and NEW INCOME TAX, 0%;FICA 0%

December 16, 2011

AMEND Federal Reserve Charter and NEW INCOME TAX, 0%;FICA 0%

The All Inclusive Solution.The Federal Reserve Bank of America.

 

As Thomas Jefferson said,”I believe that banking institutions are more dangerous to our liberties than standing armies.If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around (these banks) will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power (of currency) should be taken from the banks and restored to the people,to whom it properly belongs,”
“THE ALL INCLUSIVE SOLUTION. THE FEDERAL RESERVE BANK OF AMERICA” (www.justaluckyfool.wordpress.com)
 
HOW DO YOU EAT A 80 TRILLION CALORIE (read dollar $)  SANDWICH?
ANSWER:ONE BITE AT A TIME.
**Please this is a little lengthy,but worth one bite at a time**
 
THE FIRST TWO BITES TO THE SOLUTION:
1. AMEND THE FEDERAL RESERVE CHARTER; TURN THE FED RESERVE INTO THE FEDERAL RESERVE  BANK OF AMERICA,RESTORE MONETARY POWER BACK TO THE PEOPLE ,ADD  ABSOLUTE TRANSPARENCY.
2.ESTABLISH  A ONE PAGE INCOME TAX FORM,AN INCOME TAX  THAT STARTS WITH 0%  AND FICA 0%.
 
THE SANDWICH :
“We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.”
This is our Preamble to the US Constitution and it is  being challenged .
If it were possible to sum up the single greatest flaw to the American form of its democratic capitalism ,it  would  be :It allows for the “most powerful force in the universe”… to quote Einstein,” compound interest” to be used against that democracy.
This “most powerful force”  is being used only for the enrichment of a few (1%)  and the servitude of all others (99%).
The lender becomes the owner of all  the money based upon the act of compounding at any rate within a long period of time.The present system has to change .
 Private banks are lenders to the taxpayers who become borrowers. They are allowed to charge interest to taxpayers for the use of their own money.
Private banks are allowed to “create money” by fractionation of money on hand and use that
newly created money to gain more money. A cycle that commands total money control or it must bust. The real kicker is that the borrower by today’s system guarantees the lender they will not lose their money by covering any of their losses. The taxpayers are guarantors of their own servitude !
THE SOLUTION:
ONE OF TWO.
The Federal RESERVE Bank of America,the melting pot for Federal Reserve.,FDIC,FHFA,and the GSE’s.
AMEND THE FEDERAL RESERVE CHARTER making it a people’s owned bank.
Adam Smith’s “Invisible Hand” guided by Martin Gruenberg (Chairman FDIC) with  a nod from Sheila Blair (former FDIC head,and Edward DeMarco (FHFA) with a nod from Brooksley Born (former head of  CFTC) can restore the American financial system,and put America on the road to prosperity.As a settlement to the legal actions brought against banks, both the FDIC and FHFA can agreed to the banks insolvency ,they would place these banks into  receivership! (11-01-11. This could read JPM Chase,or both BAC and JPMC.,but I am hopeing that BAC gets “thrown under the bus” ,OR ANY AND ALL BANKS ,as all banks should be placed in receivership that are insolvent. ) THE BANKS IN RECEIVERSHIP are  to be placed along with Freddie,Frannie, Ginnie and Sallie,along with the FDIC, and FHFA, and the Federal Reserve into one new agency; “The Federal RESERVE Bank of America”(FRBA).
*All loans by any financial institution must be backed with 100% reserves.No more fractional reserve banking.
*The Federal Reserve will no longer be needed as its mandate will be passed on to THE FEDERAL RESERVE  BANK OF AMERICA. Also the FDIC and FHFA as their mandates will no longer be required. Private banks will have to get their own insurance .
*THE FEDERAL RESERVE BANK OF AMERICA (FRBA) will be a fully taxpayer owned bank and by law must be FULLY TRANSPARENT. (“GLINDA,the Good Witch,  owns a Great Book of Records that allows her to track everything that goes on in the world from the instant it happens.”_The Road to Oz)
. *It will be operated by the people,of the people and for the people”.
THE FEDERAL RESERVE  BANK OF AMERICA will be the source for the American borrower to acquire funds and the interest paid shall be revenue income for the funding of their government.
The first order of business will be securing of all deposits as allowed by the FDIC and the selling of these deposits to private banks along with all assets with the exception of any and all loans. All loans are to be retained by FRBA , as well as all offices and buildings as they will provide the brick and mortar for the new agency.
The shortfall,the amount of money needed to restore the loans to Fair Market Value could exceed $10 trillion. This includes the most recent transactions in derivatives and other market ventures,which an audit may show that are in an amount of over $80 trillion (That’s only Bank of America’s portion).Worldwide it is said to be more than $800 trillion,imagine a 10% loss;$80 trillion!.
THE FEDERAL  RESERVE BANK OF AMERICA
The Federal Reserve Bank of America will be the maker of all loans,not guarantee them for others, they will be the maker of these loans and will retain all profits. Profits which by law will be turned over to the US Treasury,as funds for Congress for government expensive’s.
The Federal Reserve Bank of America:
-Will no longer allow the paying of interest for the use of its own money.
-Will not take deposits from anyone other then the US Treasury.
-Will not be involved in any financial investment services.
The Federal Reserve Bank of America will be the sole lender of legal tender. Any financial institution that wishes to loan American Dollars must acquire any legal tender that it may need from the Federal Reserve Bank of America,as all loans must be backed with a 100% reserve from either dollars on hand or borrowed from the FRBA.
The Federal Reserve Bank of America may raise or lower rates of interest to insure the quality and quantity of the American Dollar.
The Federal Reserve  Bank of America shall be funded by the US Treasury which shall as mandated by Congress request the US Mint to produce a platinum “coin” with a DOLLAR VALUE of $100 TRILLION.This value will be electronically deposited to the account of the American people into the Federal  Reserve Bank of America. The actual “coin” will be placed on display next to the US CONSTITUTION as it really has no practical value ,it is symbolic..
The board of directors shall be selected by a non-partisan vote. ONE SHARE,ONE VOTE,ONE CITIZEN.
THE SOLUTION:THE FEDERAL  RESERVE  BANK OF AMERICA .
FRBA will purchase ALL residential and commercial loans outstanding at Fair Market Value.
Any private lender may retain any loan it has by simply showing 100% reserve. The American people will be the lenders and no longer will they be the victims of private greed.No longer will they allow the banks that they have entrusted with their money to use that money to make profits for themselves .Profits will be made by the people,of the people, for the people. Taxpayers bailout for Taxpayers by Taxpayers paying compounded interest to Taxpayers . These loans would provide trillions of dollars as TAXPAYER PROFIT (REVENUE)!
Compound interest will cause any amount to double over a certain period of time.(Rule of 72). A 4% compound yearly interest rate will double the base amount in 18 years. The taxpayers will be the direct lender and make the profit (interest).This doubling alone will provide an enormous income stream. If loans are made for $100 trillion,the incoming payments would exceed $5 trillion a year. What a magnificent way to fund a government. Pay off all old debt and never need to go in debt again because we the people would demand that there be a reserve, as the income (payments )will be greater than the redistribution.(Not really needed as The USA is a Monetary Sorvereignty)(www.rodgermmitchell.wordpress.com).
 As Einstein said,“Make it simple.”
TERMINATE THE STUPID PRACTICE OF PAYING INTEREST ON OUR OWN MONEY TO PRIVATE BANKS .A PRACTICE THAT CAN ONLY END WITH A FINANCIAL BUST,OR SERVITUDE !
The Federal Reserve Charter  as it stands now is a bank that is owned (shareholders) by other banks. This is the greatest banker fraud of all,and we know how Freddie and Fannie turned out.No more GSE’s. And because the present  Federal Reserve Charter is the bankers bank,they are using taxpayers dollars to HELP THEIR BANKS more than to help people. When the banks made federal guaranteed loans,the FEDS guaranteed the loans with taxpayer dollars. Now they are supplying the banks with almost free money. This is exactly what we the people should do-become the owners of our money,the owners of the fruits of our labors.
Even now there is a plan (QE3) to purchase “toxic MBS’s”,$545 billion worth as starters. A good thing for the people and the economy,helping to save our homes and the housing industry.BUT BEING DONE IN A MANOR THAT IS  AGAINST OUR RIGHTS FOR THE “PURSUIT OF HAPPINESS. THE FEDERAL RESERVE AS IT IS CHARTERED NOW ,WILL GIVE THE MONEY TO THE BANKS(OUR MONEY) AND ALLOW THEM TO CHARGE US INTEREST TO USE IT !!!
,The next wave of stuff that will hit the fan may be the “CRISIS in the derivatives market” if you think stuff was “too big to fail” before,join me in sleepless nights knowing the derivatives market is more than $800 trillion ! ! That’s $800,000,000,000,000 !
Lord Acton ,UK,”If I am correct, there are even bigger scandals to come when the tide goes out again, although there will be great efforts made to cover them up and excuse them ‘for the sake of public confidence in the system.’    The derivatives market is a scandal-in-process, and is likely to rock the US banking system and the Dollar to their foundations when it topples. ”,
There may be even larger losses and anxiety for the unsuspecting who have misplaced their trust in false ideologies, slogans and theories promoted by a self-serving oligarchy.
“BUT WE CANNOT SAY “We were not warned” read Brooksley Born,
“WARNING” 
Read: “Web of Debt” written by Ellen Brown ( Ellen Brown ,she turns her skills to an analysis of the Federal Reserve and “the money trust.” She shows how this private cartel has usurped the power to create money from the people themselves, and how we the people can get it back).
Could you imagine the profit (read income revenue) The Federal Reserve Bank of America would make? Taxpayers paying interest as revenue income for the taxpayers government.
Put the insolvent banks in receivership.
The next set of banks that are to go into receivership by the FDIC are to have all assets that are not loans sold off.(read just in case Bank of America is “too big to fail” or read just in case JPMC and CITI refuse to sell them out.).FDIC will sell all assets ( minus loans) and keep the offices and all its branches.The renamed bank will be called “THE FEDERAL RESERVE  BANK OF AMERICA . It will be funded by the US TREASURY.
The Federal Reserve  Bank of AMERICA will replace the Federal Reserve and will be mandated to preserve the quantity and quality of the US Dollar and to provide Congress with funding for the general welfare,life,liberty and the pursuit of happiness
Just like that ,we the people may just have solved our
… financial crisis  (read loan the financial institutions the money to unwind their derivatives to 100% asset based with a rate of 3% for 6 years.) ,
…  housing crisis (read modify loans at fair market value with a rate of 4% for 72 years.Very low and affordable payments.)
….,monetary crisis (read pay off our debt at a rate of 10% or 10 equal payments per year,by using the income generated by The Federal Reserve Bank of America’s interest (revenue) bearing loans.
WE NEED TO CHANGE THE PRESENT SYSTEM AND START  ON THE PATH OF A GREATER PROSPERITY.
SOLUTION TO FINANCIAL,HOUSING, MONETARY CRISIS AND CREATION OF MILLIONS OF JOBS (READ BUSINESS LOANS MADE AT 2% FOR 6 YEARS with no payment due till 1 year anniversary date.) IMMEDIATELY AT NO COST TO THE TAXPAYERS;RATHER AT A PROFIT (READ INCOME) TO THE TAXPAYERS.
THE FEDERAL RESERVE  BANK OF AMERICA would be the only legal tender provider for all residential and commercial real estate loans,private personal and business loans.It would have branches in every state and territory.The FRBA shall control the money supply by setting terms and conditions for the loans,thereby fulfilling their mandate to control inflation,deflation,and stagnation. .Affordable loans at low rates and longer terms ( 2011 Private loans would be at 4% for 72 years as rates will be changed depending upon economic conditions .2011 Business loans would be at 2% for 6 (six) years with no payments for the first year.)This would create at least 4 million jobs immediately and may even reduce the unemployment to under 4% within that year by creating the jobs and homes and products needed for this new prosperity that would be a result of this new monetary policy.
The Federal Reserve Bank of AMERICA will replace the Federal Reserve and will be mandated to preserve the quantity and quality of the US Dollar and to provide Congress with funding for the general welfare,life,liberty and the pursuit of happiness
AMERICAN GOLD.
The American Dollar will be based upon THE AMERICAN TREASURE (“ITS GOLD”) !
That is the full faith and credit of the American people backed up by the US Constitution and all assets physical and intellectual.
Americans shall and will pay all debts,foreign and domestic. The American people have tremendously more assets then the worlds gold. Why would we limit our future to only a single metal ?We have all the elements as assets that are greater and in more abundance than gold and intellectual assets that are limitless,why trade them for such a finite amount of gold,gold that is already owned by others?
We the people will create millions of jobs with commercial loans that will insure positive growth and employment.
We the people will have special terms and conditions for student loans that will insure the educational growth of all Americans .Extremely low rates, only used to cover losses. (read Ellen Brown”QE4- Jubelee”’ ).
Ben Franklin,Thomas Jefferson,and many more used this method ,the lending of taxpayers money , to start the colonies on the road to financial success. Then the lender banks took it away from the people by having legislators replace the practice allowing them to make the loans (make our money) and keep the interest for themselves,and at the same time guarantee that they the lenders get paid. We the people will no longer pay interest for the use of our own money,or guarantee lenders that they will be paid interest on our money for making loans.
 
THE SOLUTION:
TWO OF TWO,
To insure the funding of this great society and insure prosperity there would be three streams of income.
THE FIRST INCOME STREAM:
1. REVENUE (INTEREST) FROM DOLLAR LOANS.
Lets use a start figure of $51 trillion in loans,that which is already in circulation.(guesstimate,hope it is more)It will go on the balance sheet as $51 trillion loan assets. This asset will double every 18 years….1 X 18 = 102 trillion,2 X 18 =204 trillion. Private Banks will be the only source for deposits and savings. Private Banks will no longer be allowed to do fractional banking . All loans will require 100% deposit backing. PRIVATE BANKS WILL BE ENTITED TO TO PROFITS SINCE THEY WILL BE RISKING THEIR OWN MONEY AND MONEY THEY ARE INSURING THEMSELVES. Banks may borrow from The Federal Reserve Bank of the United States of America (HOPE THEY NEED ANOTHER $51 TRILLION) and use that borrowed money for their own account for their own investing;at the prevailing rate and terms. NO MORE FREE RIDE !( Some say they may need over $200 trillion to unwind their derivatives.)
Good-bye income taxes as they are known today.
The Return on Investment could be $3 to $5 trillion a year. US TREASURY INCOME to be used to pay off debt,promote the general welfare .
Good-bye income taxes as they are known today.
THE SECOND INCOME STREAM:
2. A business tax.The business tax is also a one line item; ALL profit over a deduction of the actual salary of up to $75,000 per employee is taxed at 15%.All interest paid for  FRBA loans is deductible.
TWO INCOME STREAMS:
1-FEDERAL BANK LOANS:Taxpayers people and “people”(read corporations) paying interest
2–BUSINESS PROFIT TAX: Profit @ 15% minus employees salary up to $75,000 each.Interest paid to FRBA ia deductible.
THESE TWO WOULD AVERAGE OVER $5 TRILLION DOLLARS A YEAR.
We the people would demand the debt be paid off ,end the possible servitude of our heirs.
We the people would demand a balanced budget.
We the people would demand a real monetary reserve be left in THE FRBA.
We the people would demand the general welfare,life,liberty,pursuit of happiness,for all the people
.
CAUTION: They will try FEAR tactics to keep US away from our rights. Remember ,”We have nothing to fear but fear itself”
They will use the fear producing words,”inflation, hyperinflation, stagnation”.
You can answer with the words,”I will not be enslaved by the most powerful force in the universe because we the people can use that most powerful force for the betterment of mankind and prosperity.”
We the people can use that “most powerful force in the universe to control inflation,hyperinflation and stagnation “! !
We the people will deal with the present possible economic tsunami,one tidal wave at a time .
We will eat this crisis -ONE BITE AT A TIME”
 
PERHAPS,WE NEED A MILLION CITIZEN MARCH ON WASHINGTON ORGANIZED FOR JUNE 2012 .
-WE NEED:
TO CHANGE OUR ELECTED CHOICES!
TO GET OUR CANDIDATES IN OFFICE!
TO GET THOSE ELECTED TO OFFICE AGREE TO THE ONE MOST IMPORTANT ITEM OF CHANGE;THEY WILL ENDORSE THE “AMEND THE FEDERAL RESERVE CHARTER,THE NEW  INCOME TAX FORM WITH 0%-10%.
 
On 60 minutes (12/11/11) ,President Obama said,”You can’t raise revenues by lowering taxes unless you get the money from somewhere else.”
AMERICA SHOW HIM THE WAY!
 
May God  continue to bless America,
justaluckyfool@aol “Anyone who attempts to predict the future is a fool;if correct justaluckyfool.”
 
 N.B.,This article contains no original material and has no copywrite.It is a compilation of thoughts and ideas that are on the internet.Please post
Please edit,change,challenge,then endorse and post.
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