Letter to the editor: $40m an hour interest

It has to be legal. We voted. See? Only it still stinks.

A hundred years ago, our forefathers voted to ratify the Sixteenth Amendment. That made it legal, they said, for the government to lightly squeeze millionaires for a percent or two. Only that’s not what the amendment said. And nobody now knows what they thought it meant at the time. But they voted. Effectively they voted all of their descendants into tax slavery. They have given us a voracious government that believes it owns us and all our possessions.

A hundred years ago, our forefathers voted to ratify the Seventeenth Amendment. That was very democratic, they said, for the people (instead of their state legislatures) to elect senators. What that did is to take away the clout states had in Washington, D.C. The Senate just became a sort of second House of Representatives. The states were reduced from sovereign republics to a kind of county or province.

A hundred years ago our forefathers allowed the bought-and-paid-for Congress to “protect us from the moneyed interests” by selling us out to those same moneyed interests in establishing the Federal Reserve System. It is not “federal,” but a group of big-time private bankers. It is not a reserve, as it has no reserves. It is, however, a system; a system for fleecing the people by creating funny-money out of thin air and lending it to the government at interest. Today we pay forty million dollars an hour interest on that money. (Yes, that’s correct; $40,000,000 an hour for the privilege of owing it.)