Article I, Section 8, Clause 5, of the United States Constitution provides that Congress shall have the power to coin money and regulate the value thereof and of any foreign coins. But that is not the case. The United States government has no power to issue money, control the flow of money, or to even distribute it – that belongs to a private corporation registered in the State of Delaware – the Federal Reserve Bank.

The Federal Reserve is controlled by private banking interest and by Presidential appointment – but it is still a private organization and not a government entity. In 1913, President Wilson’s creation of the Federal Reserve System established a three-tier monetary system in the United States – the holders of money (public, government, business and institutions; the commercial banks that borrow from the public and issue loans; and the central bank or Federal Reserve that has a monopoly on the issuing of money. The Federal Reserve is technically owned by the commercial banks.

The monetary policy of the United States is the domain of the Federal Resene Bank and not the government. This process is in direct contradiction of the U.S. Constitution that reposes the responsibility of the monetary system with the Congress of the United States. The Federal Reserve can create money out of nothing, simply printing it, lending it and printing more.

Representative Charles A. Lindberg, Sr., the father of the famous aviator, was a member of thc Banking and Currency Committee. He opposed the Federal Reserve Act and gave a speech on January 20, 1915. “The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money, and in the interest of the stockholders and those allied with them.” Representative Louis T. McFadden, chairman of the Housing Banking and Currency Committee, stated on June 10,1932, “Some people think the Federal Reserve Banks are United States Government institutions. They are not Government institutions. They are privatc credit monopolies that prey upon the people of the United States for the benefit of themselves and their foreign and domestic swindlers; and rich and predatory money lenders.”

If the Federal Reserve Bank were demolished and the Congress of the United States took control of the currency, as required in the Constitution, the National Debt would virtually end overnight, and the need for more taxes and even the income tax, itself.

By the way that was over two years ago(not 2009) and my credit rating was A+.

I’m disabled so I went the route of credit consolidation and all my cards were shredded.

I made arrangements for reduced payments with BOA before I went to consolidation and the next month they changed their own policy and still wanted more than the agreed amount for payment.

I’ll never do business with BOA again and I’d advise people to do the same.

Some of that was in the name of the credit card company, by their “delinquent accounts department”. The rest was by several different collection agencies. Of course the one that threatened to send the n word after my mom and that they would then rape her had its official corporate mailing address as the exact same address down to the same suite but a different “mail stop” as the credit card delinquent accounts department.

As for the rogue collection agency, I doubt anything short of a lawsuit is going to stop them…

The collection/credit rating industry is another matter. I have one company that insists I owe a credit card debt, and keeps putting it back on my credit report and lowering my credit score. Complaining to the FTC has been a waste of time, and the credit rating company (after I send them a detailed written document, individually addressed to each of the three credit bureaus) removes the information, but will put it right back again when the collection company says i owe it. A contract should be enforced, but filing false credit reporting info or threatening to do so should be a state felony.

Regularly they would try and talk me into writing a check when I told them I had no money in the bank. (“Oh the bank gets so many checks they will never notice and then you can have this off our books”)

They send me “orders” from “the circuit court inc.” to report to prison if I didn’t pay.

They made calls threatening me with violence.

The really good one they threatened my mom and then called me and threatened my mom. “if you don’t pay we will have to collect from your mom. She doesn’t owe it and the courts won’t let you do that. We don’t have to have the courts approval, and do understand that we hire the biggest “n word” for these types of collections and do those collections at night. You know how “n word” are around white women in bed clothing. Do you want to put your mother through that.”

They also called my preteen niece on her cell phone and tried to get money from her on the threat that if she didn’t pay that they would have me arrested at the nursing home, put in jail and then that I would die in jail because I could not get medical care there.

Nobody seems at all interested in stopping this until this latest round of laws. So it is about time. Frankly the credit card execs who let this type of thing be done (and you know they had to in general know what was going on) should be joining Barney Madioff in prison.