Where did the 96% go?

Wow, I just ran across this:

http://www.opencongress.org/bill/110-h2755/text

At least there is one hero in D.C. fighting the good fight.

This bill of course went nowhere, but had it passed, this nation could have ushered in an era of prosperity and opportunity not seen since the industrial revolution.

The Federal Reserve was supposedly formed to “stabilize the nation’s currency.” Since then the dollar has lost 96% of its value.

Every wonder where that 96% went?

Consider this:

Do you remember when gas was .25 a gallon? At that time, you could buy about 5 gallons of gas with an ounce of silver.

Guess what? The price of gas has not risen at all since then. Today, you can still buy 5 gallons of gas with an ounce of silver.

Do you think goods are more expensive now? They aren’t. If anything, products get cheaper every year, due to the beneficial effects of capitalism, free market competition, and advances in productivity and efficiency.

The illusion that things get more expensive every year is a simple byproduct of the fact that the dollar loses so much purchasing power every year.

If U.S. currency was still backed by gold or silver, the Federal Reserve could not willy-nilly (and unconstitutionally) siphon off so much of the wealth of Americans by printing money to loan to the U.S. government (and collect hundreds of billions of interest in return), distribute to wealthy banking families and so many other nefarious purposes, continually eroding the value of “Federal Reserve Notes”, the stuff that has been masquerading as U.S. currency since Congress handed over the right to coin currency to a private, secret institution with no Congressional oversight or obligation to disclose any details of their operation.

On June 4, 1963, JFK issued a Presidential decree, Executive Order 11110, which basically stripped the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned Federal Reserve Bank would soon be out of business.

JFK was the only President to go up against the Federal Reserve in its history.

We all know how that worked out for him.

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