Our Monetary System (lesson designed by Gabe Tavas)
What would happen if the Federal Reserve was shut down permanently? That is a question that CNBC asked recently, but unfortunately most Americans don't really think about the Fed much. Most Americans are content with believing that the Federal Reserve is just another stuffy government agency that sets our interest rates and that is watching out for the best interests of the American people. But that is not the case at all. The truth is that the Federal Reserve is a private banking cartel that has been designed to systematically destroy the value of our currency, drain the wealth of the American public and enslave the federal government to perpetually expanding debt. During this election year, the economy is the number one issue that voters are concerned about. But instead of endlessly blaming both political parties, the truth is that most of the blame should be placed at the feet of the Federal Reserve.
The Federal Reserve has more power over the performance of the U.S. economy than anyone else does. The Federal Reserve controls the money supply, the Federal Reserve sets the interest rates and the Federal Reserve hands out bailouts to the big banks that absolutely dwarf anything that Congress ever did. If the American people are ever going to learn what is really going on with our economy, then it is absolutely imperative that they get educated about the Federal Reserve. Read more in Step 1.
Step 1: Read the following articles before class (homework). Be prepared to ask questions and discuss in an open forum: Economic Collapse: 10 Things That Every American Should Know About The Federal Reserve and US Economy - What Was The Great Depression of 1929?
Step 2: Discuss with a peer the top 3 reasons how the privatization of the federal reserve could be highly controversial and destructive to our economic stability and your future as a young adult.
Step 3: Gabe Tavas will present: Prezi: Our Monetary System
Step 4: How many Congressmen are aware of our current monetary system? Do you believe our Congressmen are willing to acknowledge and confront the problems that exist around this monetary system? How does this system connect all of the dots to what we have learned in modern history?
Step 5: What does this mean to our national debt clock? US Debt Clock
BONUS: When did this monetary system start? HINT: Try this A HISTORY OF CENTRAL BANKING IN THE UNITED STATES
Takeaway questions for your parents: What is the difference between currency and money? What do the banks with your personal savings? What impact will this have on your retirement savings? Have you ever tried to refinance your mortgage?
Need more evidence?
- Federal Reserve Act Section 7. Division of Earnings: "In General. After all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders of the bank shall be entitled to receive an annual dividend of 6 percent on paid-in capital stock."