diddee: sometimes todd the rod’s posts lack a certain clarity. in other words, i still have no idea what the hell he was talking about when he said we were going to post new songs on the site. sometimes i imagine him sitting on a bus, staring out the window…then my point of view zooms into his ear canal and the inside of his head is a filigree of golden monkeys operating massive calliopes and there are tons of beach-balls bouncing all over the place and everything smells like gum.

this one began years ago, but 911 changed how they were to present this documentary. It’s a must see. The biggest names are interviewed in this one. Please spread the word.

The Board of Governors does the following: “The seven-member Board of Governors of the Federal Reserve System determines the reserve requirements of the member banks within statutory limits, reviews and determines the discount rates established by the 12 Federal Reserve banks, and reviews the budgets of the reserve banks. The Chairman of the Board of Governors is appointed to a four-year term by the president of the United States.” – Encyclopaedia Britannica
Essentially they run the show, and are not part of the private banking industry.

It’s also important to note that the Federal Reserve does not actually create currency (coins/bills). That responsibility falls under the department of treasury.

In regards to the profits made by the Federal Reserve:
“FRB(federal reserve banks) earnings that exceed statutory amounts of surplus established for FRBs are paid to the Government”
This amount totalled 29.9 billion for fiscal 2006
Here is the link, Note M: http://www.gao.gov/f...otestofinancials.pdf

The “fed” is not as secretive as the movie portrays:
It releases independently audited financial statements:
http://www.federalre...eleases/h41/Current/

It also tables various reports to congress:
http://www.federalre...congress/default.htm

The movie states “nearly all” tax revenue goes into the hands of private bankers. Then compares it to slavery (I’ve seen many a bumper sticker in Alberta stating “Taxes=Slavery). As stated earlier by Chris, a majority of tax revenue is used to fund the spending habits of governments not on interest payments. In 2006, interest expense made up 7% of total expenses. (221/3127)= .07. This is total interest expense, interest payments to the Federal Reserve would make up only a portion of the 7%.

Here is the link to the financial statements of the United States government for the year ending Sept 30, 2006(Independently audited):
http://www.gao.gov/f...ancialstatements.pdf

Lastly, the Bank of Canada is 100% a crown corporation. Not one private banker has any amount of ownership, yet we in Canada still have the same economic volatility as that of the US.
I am not saying central banks are good, or bad, as that is another subject. All I am trying to do is demonstrate that Zeitgeist may be a little off on its theory of the Federal Reserve.

if you wanna learn more about the “fed” then just listen to this interview … http://www.antiwar.c.../08/21/lew-rockwell/

Can you understand that??

more detail on these on these errors! what’s a good source for the corrections you’ve outlined?

i don’t remember the film claiming that “all tax revenue” is used to cover interest payments. i missed that. perhaps that is a clarity issue? i’m sure the makers of the film understand that roads and schools and fighter/ bombers are subsidized by tax revenue, no?

The third part contained numerous errors about the federal reserve.
- The quotes contributed to Woodrow Wilson are incorrect/incomplete
- The federal reserve is a quasi-private organisation, in that there are shareholders, but the reserve is controlled by the board of directors which is appointed by the executive.
- Any interest revenue is not distrubuted to the shareholders

The assumption that all tax revenue is used to pay interest payments is absurd, and doesn’t even require anymore discussion.

The concensus among many people is that the federal reserve should be disbanded, but not for the reasons this movies states. The biggest champion of the dissolution of the federal reserve over the last 50 years has been Milton Friedman, and i’m sure that most people using this site to not share many (if any) of the values of Milton Friedman.

I welcome any voice calling for an end to the insanity. Here’s some of what the “libertarian” Raimondo wrote today …

In a disgusting display of mendacity not seen since the run-up to the invasion of Iraq, a pro-war advertising campaign spearheaded by former White House spokesman Ari Fleischer is buying $15 million worth of 30-second television spots that repeat the lies linking 9/11 to Iraq – and explicitly threatening another terrorist attack in the US if we “surrender.” It’s the first storm in a season of fear.

What kind of morality is it that lets the perpetrator of a fraud off scot-free while blaming the victim who has been defrauded? It’s called neocon morality – where the neocons are always in the clear, and the rest of us are dunned to pay the price of their immeasurable hubris.

I say keep it up Justin!!

Though i must respectfully disagree w/ your evaluation.

The primary editor/founder of the site, Justin Raimondo, is an open homosexual who has described himself as “hedonist” and ridicules arseholes like Tancredo who bash immigrants. So he is very much a social libertarian even though some of the contributors, like Pat Buchanan, are not. Raimondo also openly endorsed Ralph Nader in the 2004 election.

Now, i totally agree w/ you on the libertarian economics … as there are so many flaws in that ideology that i don’t see how anyone could seriously advocate it. On the flip side though, i have begun to have doubts about the viability of pure leftist anarchist ideolgogy when applied to the real world. I’m definitely a “Leftist”, but i’m not blinded by any ideology.

The American govt is guilty of committing numerous injustices, both foregin and domestic. At this time, however, the U.S. military involvement in the mid-east is the most egregious crime of them all. And i think the #1 moral priority for Americans right now is to get the fuck out of Iraq & Afganistahn immediately.

That said, i am in almost complete agreement with most of the contributors at antiwar.com in regards to their opinions of the role of the U.S. in international affairs … incidentally most contributors are also anti NAFTA, WTO, etc.

As for Ron Paul, I am in complete agreement with his assessment of our invovlement in the mideast, as well as certain other issues such as his condemnation of the patriot act & govt easvedropping. Though i certainly don’t agree w/ his stance on abortion or freemarket as humaities savior.

Out of all the shitheads seeking the GOP nomination, Paul is certainly the most principled, and if Americans are hell-bent on electing another Republican to the presidency, I would take Paul over the other any day. Could you imagine the consequences for humanity if some maniac like Guilliani gets elected?

So i support antiwar.com because it brings together a variety of people with often radically opposing world views yet having common ground on one crucial matter: a detestation of war and a sense of urgency that it needs to be stopped a.s.a.p.