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St. Peter Damian & the Federal Reserve



The Sky Grows Darker

Dear TIA,

Many thanks for the informative articles which we receive from you [in your Daily Mail]. There have many things which are unknown to us.

I hope you are able to continue.

"The sky grows darker and the seas rise higher."

     I.C.

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St. Peter Damian League


Dear Members and Friends,

Please enjoy this special mailing in honor of our patron, Saint Peter Damian.

Also, our web site www.stpeterdamian has finally been updated so you will have access to our patron’s many Letters under a single roof.

     God bless,

     Randy Engel, Director

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Caput Negrum

TIA,

Re: The Last Pope?.

Per Oral Tradition on this matter, it is said that St. Malachi went to Rome and had another Pope listed between Benedict and Peter the Roman. He is called Caput Negrum [black head or black leader], and Francis would be that Black Pope as he is from the Jesuits.

     E.N.


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California 'Bill of Rights' for Dogs & Cats


TIA,

Yes, sunny liberal California is leading the way again for America.

No rights for aborted babies, but animals are sentient creatures with complex feelings, and we have to be sure they have all their rights.

     T.H.


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You Are Wrong: the Fed Does Not Print Money


TIA,

Re: Is Hyperinflation on the Horizon? By Dylan Lloyd Catlett

Mr. Catlett claims that the Federal Reserve has been printing a lot of money.

The Federal Reserve cannot and does not print money. They create bank reserves which do not create money until the banks lend them. With the labor participation rate low and stimulus run out, how much borrowing is there going to be?

     J.F.
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The Author responds:

J.F.,

Your objection is not completely unfounded, and, in retrospect, there are some edits I wish I could have made to the article. That much I concede; however, I would like to briefly address your concerns.

Nowhere in my article did I write that the Federal Reserve itself printed a lot of money. I mentioned our “country’s banks... printed a seemingly phantom 16 million dollars.” Now, it would be more accurate to write that (1) banks inflated the money supply through fractional-reserve banking, and (2) increased spending by the government caused a leviathan creation of currency through transactions between banks, the Federal Reserve, and the U.S. Treasury (more on that later).

But this poor choice of wording was not the subject of your criticism; rather, you think somehow that I claimed the Federal Reserve printed a lot of money. This is patently false.

I think it is incorrect to argue that the Federal Reserve itself does not create money. To pay for its many projects, the government borrows currency by issuing bonds through the Treasury. A bond auction is then held, and large banks purchase our debt, hoping to make a profit off it through interest. Afterwards, through open-market operations, banks sell some of the bonds they have purchased to the Federal Reserve for a profit. The Federal Reserve pays for the bonds with a check despite having no money at all in reserve.

Thus, the Federal Reserve creates money! The banks take this money and buy more bonds. They also sell these bonds to the Federal Reserve, and the process repeats ad infinitum. Essentially, the Federal Reserve and the U.S. Treasury are constantly using the banks as middlemen to create currency. ALL PAPER CURRENCY is created through this method.

Let us finely detail the steps in which currency is created.
  1. To pay for the government's various programs, the Treasury issues bonds (I.O.U.s), which are sold at auction to banks.

  2. These banks sell some of their bonds to the Federal Reserve, which purchases these with checks backed by no money at all. Hence, the Federal Reserve creates currency in collusion with banks and the Treasury. The banks, seeking a profit, continually buy more bonds with the Federal Reserve's checks--in many cases just to sell them to the Fed. Again, all paper currency is created through this method; but inflation does not end here.

  3. The government uses the money from the Treasury to pay for its programs. Government employees and contractors deposit their pay in banks.

  4. Via fractional-reserve banking, banks steal up to 90% of the money you deposit in your bank account and create I.O.U.s of their own. The money they lend to others is then deposited in other banks, and the process repeats, inflating the money supply. Through this nefarious practice, $100 can become $1000. However, as I have outlined, it is not the only way currency is "created" (see steps one and two).
To the masters of inflation, it really doesn't matter if the labor participation rate is low and stimulus has run out (stimulus hasn't “run out"--the government injects money into the economy through plenty of other means, such as through its spending on pretty much any program or department, from which currency naturally flows into the economy through banks (see step 3)), since there is always more debt in existence than there is currency in supply. This is why inflation has been happening in the first place!

To illustrate: if you borrow one dollar into existence--and it is the only dollar in existence--you will need to pay with another borrowed dollar. But that extra borrowed dollar must be paid off with interest as well! Even outside of this illustration, there is a payment due on every dollar in existence, since the very creation of a dollar incurs debt. Thus, we are left in a never-ending cycle of ever-rising inflation.

Inflation will not stop, lending will not stop, and money creation will not stop--not until central banking is destroyed. Ceasing to pay debts will cause a collapse of the economy, so inflation of the currency supply--whether it is caused by lending by banks to citizens or transactions between banks and the Fed/Treasury--must continue in the globalists' eyes.

There is an excellent video detailing the creation of currency. I recommend that you and all others reading this response watch it.

     Sincerely,

     Dylan Catlett


Posted February 24, 2022
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