I started reading this book a couple years ago, right before the Bush bailout happened. It was uncanny, it was like I was reading a play book. Now with Obama and things happening in the EU. Could Fabian Socialism really be coming to fruition? If it is we have a much larger fight on our hands.
Aside from the Federal Reserve this book talks about the history of bailouts, the banks and the IMF and how it “helps” countries through difficult times.
The federal government adds ink to a piece of paper, creates impressive designs around the edges, and calls it a bond or Treasury note. It is merely a promise to pay a specified sum at a specified interest on a specified date. As we shall see in the following steps, this debt eventually becomes the foundation for almost the entire nation’s money supply. In reality, the government has created cash, but it doesn’t yet look like cash. To convert these IOUs into paper bills and checkbook money is the function of the Federal Reserve System. To bring about that transformation, the bond is given to the Fed where it is then classified as a . . .” If you don’t read another book read this one, it is about so much more than the Federal Reserve. You can get it here.