Q & A with Andrew

What form of money did American colonists use?

When the early American settlers found that clamshells (known as "wampum") were the most useful material they could have for trading with the Indians, they began to use it for trading among themselves. In 1637, the government of Massachusetts made wampum legal [...]

What are Federal Reserve Notes?

Federal Reserve notes are evidences of debt of a private bank. Their quantity and value are determined by a group of businessmen who own these private banks.     {mosloadposition [...]

Are Federal Reserve Notes issued by our Treasury?

Our Bureau of Engraving and Printing prints the money, and then sells it to the Federal Reserve Bank simply for the cost of the printing. The Federal Reserve bank then loans it back to our Government. The Federal Reserve also demands security to back up the loan, so Congress authorizes the Treasury [...]

When did the Federal Reserve acquire America’s gold?

When Franklin Roosevelt issued the following proclamation: "By Executive Order of The President, issued April 5, 1933, all persons are required to deliver on or before May 1, 1933, all gold coin, gold bullion, and gold certificates now owned by them, to a Federal Reserve Bank, branch, or [...]

Are Federal Reserve Notes really “dollars”?

Are Federal Reserve Notes really "dollars"? On February 18, 1977, an attorney for the Treasury admitted that "Federal Reserve notes are not dollars". Although they are denominated in dollars, Federal Reserve notes are in fact merely notes for dollars. They are not dollars [...]

Who owns the Federal Reserve Banks?

The Federal Reserve Banks are a privately owned consortium controlled by the eight major stock-holding families: The Rothschilds of England and Germany, Moses Seif of Italy, Lazard Freres of France, the Warburgs of Germany, Kuhn-Loeb of Germany, Goldman-Sachs of the United States, Lehman Brothers [...]
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