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Message Subject federal reserve 99 year contract is up dec. 23, 2012
Poster Handle Anonymous Coward
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I've been studying this and apparently in 1927 the charter was renewed indefinitely to end only if there were found to be proof of wrongdoing or if Congress acted to dissolve it. No more mystery. Whew! I was sweating this one because the possibilities were endless and while I don't like the banking system being in the hands of private banks, having until Dec 23rd (which would have been the expiration date had it not been renewed indefinitely) could have created some very serious financial catastrophes as everyone hashed things out. However, it does make a very interesting point. There apparently wouldn't be much inflation if the banking system were federalized vs. privatized, which was the case prior to 1913 when the Federal Reserve System was enacted. A lot of people in explaining the current system speaks of it as if its the World's biggest Ponzi scheme. The jury's still out for me, but you read up on it and post what you think.
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