From the October 2008 Idaho Observer:

When you can’t give the U.S. dollar away

Alarms began going off in my head when I read the Friday, September 19, 2008 edition of the Wall Street Journal. After spending over 20 years in the brokerage and investment banking industries, I couldn’t believe my eyes when I saw the Fed Funds Rate hit a low of 0.00 percent and closed Thursday (my birthday anniversary, which I found more than humorous) at 0.01 percent bid and .50 percent offer.

Most would ask, "What the heck does that mean?"

Let me explain: First, the Fed Funds Rate is the interest rate "member banks" (banks that belong to the Federal Reserve System) charge when they lend and borrow from each other, usually overnight. The borrowings are usually used to cover any excess lending they did during the day, so that they are able to maintain their reserve requirements.

Again one would ask, "So what?" Do you remember in the ‘80s when the Nikkei Stock Average rose over 20,000 and crashed? After the crash, Japanese banks couldn’t give their money away and their interest rates were in the 1 percent range.

Well, when money is tight, rates are usually higher and when money is loose, rates are usually lower (because the banks can’t give it away). The Fed and the Treasury have (and will) flood the world markets with Federal Reserve Notes, bills and bonds in bailing out not only two quasi-government corporations, but the insurance industry (AIG) and the mortgage industry (the $800 billion) bailout. This vast creation of dollars will make each dollar you hold worth less and, eventually, worthless.

Second, the real assets the Fed banks, international bankers and wealthy who own much of the world’s assets are after is real estate, in particular your real estate. They have created an opportunity to grab as much real estate in the next few years as they possibly can, by printing trillions of dollars to create a crash similar to 1929 and a depression to follow. The rest of the world knows our dollar is "worthless" and why Americans traveling abroad find people won’t take dollars anymore. It wasn’t like that in the 80s or ‘90s, was it?

So what do we do? If I were on the "outside" holding assets valued in Federal Reserve Notes or the U.S. Dollar (U.S. stocks, U.S. annuities, U.S. Treasury securities, U.S. money market funds, U.S. bank C/Ds, etc.), I would sell and immediately buy something valued in either Gold, Silver, Euros, Yen, or, when everything is crashing around us, real estate. I would avoid any currency which is tied to the U.S. Dollar or country who holds great amounts of U.S. debt (like China).

And, one must remember, if you haven’t properly registered your real estate or any other—assets, you don’t own them. But alas, I am not on the "outside" and I lost $millions due to a 12-year battle with the IRS and U.S. government. So I joyfully pass this along as advice because my Lord and Savior taught us to " your neighbor as yourself" (Matthew 22:39 NIV) and hope any who read these letters are able to protect the assets God has entrusted them to maintain, against the demise of the Federal Reserve Note.

What’s the answer? Simple. Congress revokes the Federal Reserve Act of 1913 and the United States Treasury prints new money backed by the full faith and credit of the citizens of the 50 States. Then OUR dollar will probably become, once again, the most powerful currency in the world. If not, hold on to your hats, we’re in for quite a ride (down). God bless and protect you all.

Stephen Richards Barker

Waseca, Minnesota

Stephen: So many of us are now calling in earnest for the end of the Federal Reserve and our people finally are awakening to the fact that the Federal Reserve is not federal. (DWH)