The Federal Reserve is a Cartelization Device

Thank you for excepting as I'm sure the topic of this debate came as quite a shock. I guess I'll begin. The Creation of the Federal ReserveThe story of the creation of the Federal Reserve is an interesting one. In 1910, seven men ventured to Jekyll Island, Georgia to create the Federal Reserve Act. They stayed at the Jekyll Island Club. (I've been there, its quite nice) These men created the Federal Reserve Act in secret. They all took on new names and disguised themselves to appear anonymous . The seven men were:Nelson Aldrich- Originally proposed the Federal Reserve System. He was the head of the National Monetary Commission. He was a very important business associate of J.P. Morgan. He was the father-in-law of John D. Rockefeller Jr. He eventually became the grandfather of Nelson Aldrich Rockefeller, which you can see he was named after. Abraham Andrew-Assistant Secretary of the Treasury, who later became a Congressman. He was very prominent in banking circles. Frank Vanderlip- President of the National City Bank of New York, the largest and most powerful of all the banks in the country. He represented the financial interests of William Rockefeller and Kuhn, Loeb & Co.Henry Davison- Senior partner of the J.P. Morgan company.Charles D. Nortan- President of the First National Bank of New York.Benjamin Strong- The head of J.P. Morgan's Trust Company, and 3 years later after the Federal Reserve System was created, he became the head of the system. Parl Warburg- (probably the most important there because of his European banking knowledge) He was born in Germany and eventually became an American citizen. He is the brother of Max Warburg, a very wealthy German banker. He was a partner in Kuhn, Loeb & Co. and was a representative of the Rothchilds Dynasty in England and France. http://en.wikipedia.org......http://en.wikipedia.org......http://en.wikipedia.org......http://en.wikipedia.org......http://en.wikipedia.org......http://en.wikipedia.org......http://en.wikipedia.org.....Notice all of the different highlighted individuals and businesses these men represented. I'm sure many of them ring a bell. (Rockefeller's, J.P. Morgan, Rothchilds Dynasty, Kuhn Loeb & Co. Warburgs)During this time period, one of the biggest issues was the issue of the money trust. The money trust was the trust of the wealthiest people in the world trying to control the worlds financial system. These people and businesses were the money trust. They represented 1/4 of the world's total wealth. So, one might ask, "what's the problem with a bunch of people involved with banking sitting down and making a banking bill?"These people were competitors! The only reason they would make a bill (that in fact eliminates the competition of banking) would be to create a cartelization device in order to destroy the competition. Note: This is all documented history. I will provide sources to prove this all actually happened. http://www.bigeye.com......This is a quote from Frank Vanderlip in the Saturday Evening Post:"I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System. We were told to leave our last names behind us. We were told further that we should avoid dining together on the night of our departure. We were instructed to come one at a time and as unobtrusively as possible to the railroad terminal on the New Jersey littoral of the Hudson where Senator Aldrich's private car would be in readiness attached to the rear-end of a train to the south. Once aboard the private car we began to observe the taboo that had been fixed on last names. We addressed one another as Ben, Paul, Nelson and Abe. Davison and I adopted even deeper disguises abandoning our first names. On the theory that we were always right, he became Wilbur and I became Orville after those two aviation pioneers the Wright brothers. The servants and train crew may have known the identities of one or two of us, but they did not know all and it was the names of all printed together that would've made our mysterious journey significant in Washington, in Wall Street, even in London. Discovery we knew simply must not happen."They spent 10 days on this island and created the Federal Reserve Act. When they were done, Senator Nelson Aldrich took it upon himself to present the bill to Congress. (It was initially called the Aldrich Plan) Senator Nelson Aldrich was widely known for being involved with the money trust, and for this reason, the Aldrich Plan (the FED Act) did not pass initially. They found two other millionaire senators named Robert Owen and Carter Glass (who were both also bankers). Their names on the bill made the bill totally acceptable. The bill later passed in 1913. (Note that when the bill passed, it almost was a completely different bill. The Federal Reserve Act has been amended 199 times. Their powers have broadened incredibly and they're almost completely independent from Congress.)Also note that the Federal Reserve actually isn't a federal agency. It is a partnership between the government, and the banks, (Cartels often work with the government to enforce their needs and wants. Example would be how drug lords pay off police to do their dirty work)How the Federal Reserve Acts as a Cartelization Device. This is how the Federal Reserve works:They have the ability to create money from 'thin air' Their powers have become so broad that they can create money from anything they want to. The Federal Reserve creates money in this way. They can either monetize their own debt (or even nowadays, the debt of other countries. Its crazy what they can do)But they basically just buy their own debt. (Which makes our money backed by debt...)Or they can buy assets by buying up any individual firm they want. (And by buying up, I mean just creating money to pay for it. Let me explain how the Federal Reserve buys assets. The Federal Reserve increases the reserves of the banks under its jurisdiction by buying assets. It doesn't matter whom the Fed buys it from, whether its from the banks or from any individual or firm in the economy. Now, suppose a central bank buys an asset from a bank. For example, the Central Bank buys a building, owned by...idk Alexville Bank for $1,000,000. The building appraised at $1,000,000 is transferred from the Alexville asset to the Central Bank's asset. How does the Central Bank pay for the building? By simply writing out a check on itself for $1,000,000. Where did it get the money to write out the check? They just created it out of thin air i.e., by creating a fake warehouse receipt for $1,000,000 in cash which it does not possess. The Alexville bank deposits the check at the Central Bank, and the Alexville Bank deposit account at the Central Bank goes up by $1,000,000. The Alexville Bank's total reserves has increased by $1,000,000, upon which it and other banks will be able, in a short period of time, to multiply their own warehouse receipts to non-existent reserves manyfold, and thereby increase the total supply of the country manyfold. What this basically is, is counterfeiting!!The Federal Reserve has the ability to counterfeit money and ripple it down through the economy. This causes inflation which is also a tax. A regressive tax. I will provide evidence of this. http://www.youtube.com...But the Federal Reserve eliminates competition of banks. The Federal Reserve has the ability to increase or decrease the interest rates of banks, and also has the ability to basically funnel money into the banks as well. This gives the banks the ability to charge interest on money that comes from nothing. It also prevents banks from even being able to go out of business. This limits competition of banks because all banks are basically the same, and the FED prevents them from going under. This allows the banks to grow and increase their profits. This is my argument. Your turn.