American History 101 – Federal Reserve

This is a great post from Orrin Woodward’s blog on February 21, 2012. It is so important that every American voter educate themselves with this type of information regarding the factual history of our country. Please know that our forefathers and all the people who fought and died in establishing this great nation would have been 100% against the formation of the Federal Reserve. Here’s Orrin’s article:

Permitting government to produce fiat money is like giving a compulsive gambler unlimited poker chips. In neither case should we be shocked when runaway debt and excuses are all that ensue. Indeed, Alexander Hamilton, in a 1790 paper to the House, wrote, “The emitting of paper money by the authority of Government is wisely prohibited by the individual States, by the national constitution; and the spirit of that prohibition ought not to be disregarded by the Government of the United States.” Thomas Jefferson, furthermore, concurred, saying, “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” Even the founder of Keynesian Economics, John Maynard Keynes, opined on the dangers of fiat money, writing, “Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of Society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

Nonetheless, despite the many warnings on the dangers of fiat money, in 1913, the Federal Reserve was created. The name “Federal Reserve” is a misnomer, since this privately held company isn’t federal and doesn’t have reserves. In truth, because the Federal Reserve is a private company, it, unlike our government, is designed to make money. It accomplishes this by loaning money to our federal government for fees plus interest. However, in order to ensure the interest debt was serviced promptly, the income tax amendment, not coincidentally, was passed in 1913 also. By permitting direct taxation on a citizen’s income, the income tax amendment erased one of the last checks (proportional taxation of states) remaining upon government’s nearly unlimited avarice. The founders, by regulating the taxation with the State populations, tied the federal government’s hands, ensuring the individual citizen’s wealth was free from government expropriation. Sadly, with the passage of the income tax amendment, this federal constraint was removed. Since 1913, individual citizens, instead of the respective citizen’s state, have had the unequal task of squaring off against the federal government (IRS) whenever a tax dispute arises. This was not the intention of the founders.

It’s time to educate ourselves on our history, or we are doomed to lose our birthrights. Leaders must arise and educate communities around the world. Sincerely, Orrin Woodward

I encourage everyone to add the LIFE Freedom Pack to your personal education collection…every voting American needs this information…the future freedom of our families depends on it.

Your future awaits, go get it!

God bless, Eric C. Blomdahl

6 responses to this post.

  1. Posted by Don Fallis on February 22, 2012 at 2:58 pm

    Thanks Eric: Yes the Freedom Pack is awesome. The book in that pack is one of my favorites. The talk by Oliver DeMille “Freedom Matters” and his book “Freedom Shift are also wonderful tools for our minds. Proud to be in the battle with you. Don Fallis


  2. Posted by Pat and Mary Hermsen on February 22, 2012 at 10:28 pm

    The more I learn about our history, the more I realize that our education system has a hidden agenda. It’s quite shocking to learn the facts, and to know that this current decline was set into motion before any of us were born. And of course, it makes me wonder why I never knew these historical facts until I hooked up with the great Team organization.

    What do the kids learn on Presidents Day? I’m not sure….but I’ll bet they can all tell us what they learned last month on Martin Luther King, Jr. Day. I think I’ve found part of my purpose. Thanks, Eric!


  3. Posted by Jason & Chris Winkler on February 23, 2012 at 9:08 am

    Awesome article Eric! It is amazing how more and more people are starting to pluck their heads from the sand and are realizing they need to stop being the Ostrich and work towards improving themselves into becoming the Eagle. Thanks for leading the way and showing us all how to fly (literally)!


  4. Posted by Tom Moris on March 3, 2012 at 11:29 pm

    Yes, how Winston Churchill’s quote/statement at the beginning of Orrin’s article states truth to those who know the truth. But, for those who don’t know the truth or don’t understand history and the real meaning of the founding fathers direction of this great country it is not thought about. It is certainly our education system that should take the lions share of the blame, but parents also need to know these truths and teach them to their children. Parents involved with Team and LIFE are some of the few who really get an education on the big picture. Once they do, the realization of re-educating our country one person at a time takes on a whole new meaning and purpose. A purpose that can transform this country into a freedom shift or a dependency and entitlement shift. I just watched a clip from the movie Sparticus and it really hit home at where we are in repeating history (the reasons for fall of the Roman empire), because 95% of our citizens are self focused and in survival mode. This is exactly where government wants us, so we are distracted from what is happening on our watch. But we in LIFE and Team know what is going on and we are out spreading the word for freedom.


  5. Eric thanks for sharing! As you say soo many times “America 2012 is hurting” America is hurting because of the information they have gotten over the years that is WRONG! You and a few other Rascals have stood up and made a decision to make a difference in this world! Thank you for that and thank you for sharing the RIGHT information! I remember Oliver Demille sharing with us that all it takes to change a culture is a small population with the right information discussion and mentorship! Glad to have found it and look forward to getting more RIGHT information! 🙂


  6. Informative post. For a comprehensive read a fascinating book is The Creature from Jekyll Island


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