Michael Greaney, "Four Turning Points in Federal Reserve History," 2011 "Own the Fed" Rally

Michael Greaney, CPA, MBA, Director of Research for the Center for Economic and Social Justice and member of the Coalition for Capital Homesteading, describes the formation of the Federal Reserve System. He explains how shortly after the Fed's creation, its policies shifted to creating money and credit to finance government debt rather than private sector growth. Greaney asserts that we now face a fourth turning point, where we can 1) shut down the Federal Reserve System, 2) turn it over to government bureaucrats via the Treasury Department, or 3) return the Fed to its original purpose of providing a stable currency and adequate credit for private sector economic growth, put ownership and control of the 12 regional Federal Reserves in the citizens, and require that all new money and credit be extended solely for private sector production and in ways that create new owners of productive capital.

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Nonprofits & Activism

Tags:

• Federal Reserve
• Tax Day
• economic justice
• social justice
• Capital Homestead Act
• Financing the Future
• politics
• speech
• citizen ownership
• capital ownership
• money
• credit
• economic development
• central bank
• own or be owned
• global economy