The Federal Reserve is a Cartelization Device

When did I ever say they were trying to take over the world!? My opponent is trying to portray me as only a conspiracy theorist to try to denounce my argument. He is completely over exaggerating my argument to try and make it seem not credible. My opponent also believes that because there were central banks prior to the Federal Reserve, the Federal Reserve could not be a cartel because the prior central banks would have had to be cartels as well. It is very relevant that there was a central bank prior to these people being alive. It completely disproves the conspiracy that they created the Federal Reserve as a grand scheme to take over the world. The first and second Central Bank stand as proof that many people though a central bank was a great idea. Unless off course my opponent believes those were conspiracies also. Okay, ignoring the fact that my opponent has just used a couple logical fallacies in stating this, I will address the fact that not all central banks are exactly the same, especially the First and Second Bank of the United States. There have been other central banks in the world. The first ever central bank was created in Europe in the late 1600's. It was really created to tax the people without them knowing it. When the taxes got too high, people began to revolt. They discovered the tax ceiling was around 40%. With the new central bank, they discovered they were able to tax their citizens 50%, 60%, 70%, and sometimes even 80% through the process of inflation. The First and Second Bank of the United States held similar concepts to the Federal Reserve, but all in all, it was very different. It seems I need to explain a little bit more in detail about money in the U.S. (I forgot to specify this earlier) My opponent states that the government makes most of the profits.This is true. But lets see where that money goes after it is given to the government. The government then cycles it back into the economy (keep in mind this money is counterfeit money since the Federal Reserve creates money from 'thin air') No matter how this money is spent, it will eventually ripple down into the economy (unevenly) Even if the government spends this money in other countries, those dollars will be used to buy products elsewhere and maybe in the United States. This money will eventually get back to the United States (diluting the value of the currency)People then take this money, and they invest it in a bank. The Federal Reserve has now granted the banks of the United States to charge interest on money that really comes from nothing.That is how the banks benefit. Being able to charge interest on counterfeit money. Jekyll Island Group Yes, they were very educated on the subject of banking. But, we have to keep in mind that these people all representedthe money trust.And the public knew this, which is why they had to go in secret. This is another exert I forgot to include in the last argument that explains this. This is from the same article in the Saturday Evening Post dated February 9, 1935. "If it were to be exposed publicly that our particular group had gotten together and written a banking bill, that bill would have no chance whatever of passage by Congress." Because the people realized that they represented the money trust(J.P. Morgan, Rothchilds, Rockefeller's, Kuhn Loeb & Co., and the Warburg's) Why else would a group of people who represented competiting bankers come together to create a bill about banking that eliminates free market banking competition? Elimination of competitionLet me just provide an example of what has happened before to show how they eliminate competition. From 1914-1919, the Federal Reserve increased the money supply by nearly 100% resulting in extensive loans from small banks to the public. Then in 1920, the Fed called in mass percentages of the outstanding money supply, thus resulting in supporting banks having to call in huge numbers of loans and just like in 1907 . . . bank runs, bankruptcy and collapse occurred. Over 5400 competitive banks outside of the Federal reserve system collapsed. This is just an example of how they can, and have eliminated competition of bankers. Banking firms outside of the Federal Reserve do not benefit as much as the members of the Federal Reserve do. When the Federal Reserve creates money, big bankers and government agencies are the first to receive it. This is why inflation is a tax. And this is their profit. Being able to create money from nothing. The Federal Reserve was not created by a group of independently owned businesses.It was created by people who represented the names of independently owned businesses. How else do businesses cooperate? By using people to represent them. I have provided more than enough evidence to prove this. The Federal Reserve was not created to drive out competition.The Federal Reserve counterfeits money. Counterfeiters always have the benefit of having that money first and being able to decide where that money directly goes. Banks are able to charge interest on money that comes from nothing. Competition is driven out because banks have the option to become members of the Federal Reserve where they are free from competition and free from the fear of going under. The Federal Reserve was not Created to maximize profits. As I already explained, the Federal Reserve counterfeits money. Counterfeiters benefit over the people who receive it later. The new counterfeited money ripples down the economy unevenly benefiting the government and the banks. The poor are left with higher prices and no higher profit. This is why inflation is a regressive tax. My points have not been refuted. I urge a Pro vote.