Yes, that website is correct.. In fact according to Edward Griffin who wrote 'The Creature of Jekyll Island' the Fed does NOT keep extra interest from T-bills (it takes only the money necessary to pay for its operating expenses) That would be way too ridiculous and people would catch on, instead they are a bit more devious. They still have control over money supply and with the use of fractional reserve banking they jack up or ramp down liquidity in a heartbeat thus creating booms and busts. Obviously, since the Fed is not public, it has no incentive to keep growth slow but moderate. They have all the incentive in the world to create booms and busts. So yes the Fed still is evil but they do NOT keep the interest.
"Let me issue and control a nation's money and I care not who writes the laws" Amshall Rothschild "The end of democracy, and the defeat of the American Revolution will occur when government falls into the hands of the lending institutions and moneyed incorporations." Thomas Jefferson
Another conspiricy theory is that less than a year before the meeting in 1913 where the fed reserve bank and income tax plans were devised, the only people powerful and rich enough to stop them (and who probably would have) were rounded up on a large boat, which ignored all warnings, and sailed full speed through seas well known to be an ice berg hot spot, where the said powerful and rich prompty died. I believe the ship was named the titanic and bankrolled by J.P. Morgan. Great timing eh!
Problem is - wages rarely keep up with inflation. So the average American loses big time. When was the last time you heard an employer (other than Government) mandate annual wage increases that move lock step with "official" inflation? Thats a mandatory ~3% raise a year (according to BS Gov stats). The average American is lucky to get a 3% raise every 3 years - if that! Now, factor in real inflation at 10% (yes, we'll count fuel and food - sorry Fed!) and wage earners are bleeding big time. Of course, the masses are too slow/lazy to even contemplate the concept of inflation. Money supply?? Are you crazy? Thats light years beyond their attention span. The purchasing power of Fed created money would be far less if wages moved cent-for-cent with inflation. Thats why the progenitors of debt money bubbles benefit so much - their cash is first in line to buy up cheap assets. All that buying eventually works it way through the economy (years), jacks up prices, and eventually leaves the average American befuddled - wondering how all his hardwon savings can't buy all that much.... You think thats right? Ethical? Moral? Its like fooling a simpleton to look the other way while someone steals his wallet. Its nothing short of criminal.
Why is that? Its happened in other countries, all throughout history. Let me guess - can't happen here, right?
The masses are too busy watching American Idol and Dancing with the Stars, playing video games, and getting drunk. By the way, I miss the great TV shows, like All in the Family and Three's Company. Everything now is mostly dumb reality shows. Anyhow, the rich and elite of the world prefer the masses dumbed down, since they are easier to control and take advantage of, without them knowing that they are getting taken advantage of. As a wise man once said, "the world needs dumb people to make a select few rich."
Of course it can't, it's impossible, not in The US of A, the land where honesty and democracy prevail over all the evil in this world which is caused by the Russians, the terrorists and finally the Jews, not yet but their turn to take the blame perhaps for an economic meltdown will eventually arrive, as it always does. Jews have always been a perfect scapegoat throughout the history of mankind, they killed Jesus afterall.
Poor old Jesus.. minding his own business leading a political revolt against the Romans and practicing Qabalism like a good Jew when suddenly he was hijacked by these Christians that gave him blue eyes and blonde hair.. how strange
Agreed. I dont believe in the overhyped conspiracy theory, but i am almost certain there is corruption. They have to be more subtle in this day and age, and the 'accumulation, distribution' cycle in combination with misinformation is a great way for them to continue to make easy money that is not so easy to spot. By 'them' i mean some of the big banking players + the fed + other central banks such as the Bank of England. They are likely working together in some cases, the financial rewards are just too tempting to resist i am sure. If only conspiracy 'nuts' like dai would actually approach their theory from a more neutral perspective, rather than skewing facts they would actually get taken more seriously...