The Federal Reserve System and Our Money.

Most of us understand that The Federal Reserve insures each and every single account in most commercial banks for up to $100,000 per account. That means any defaults and if your account in under $100,000 dollars you're insured. If you have a hundred accounts under $100,000 you are insured for each account. The amount over $100,000 is not insured.

 Now that does not mean you have access to your money. In fact even without default banks can deny you access to your money or limit the amount you can take. Think not? Then read the fine print or check with your bank. In fact most banks set daily ceilings, which set the amount you, can take from an ATM or from an account.

True you can request they be changed but the bank has the final say, with your money! Now do you really think this applies to the wealthy? The answer is a resounding no. They do not need money and they have corporate avenues for funds if necessary. No this was put in place to protect them, not you! Oh true you are protected but, do you really think, like any insurance, the US government has enough to cover every single account in every bank? Of course not and like any good insurance company you will wait to have your claim settled. Since this is the government how long can you imagine that will take?

You see the politicians back in the Nixon era set the stage for what we have now. They removed the gold standard. Which meant at that time every dollar was backed by gold. That is not longer the case. Also, the government can produce as much money as they want to meet economic conditions. In fact the government just pumped millions into the market to stabilize it last week. I understood foreign investors were jittery.

So when you hear your money is protected that is a truth, But now the Paul Harvey steps in and you find just what is the real case. It is like any other insurance. You are fully protected until you need it and then the fine print comes out. If you never need it you are comfortable knowing it is there. No need to worry. But when needed the "I thought" comes out almost immediately.

So what else is new when we speak about money? Now “the Three Amigos" are up in Canada right now talking about all sorts of government things. For those who don’t know who the press has labeled “The Three Amigo’s" they are "our" President, the President of Mexico and the Prime Minister of Canada. Rhetorically, is it not logical that perhaps somewhere up the road our currency will have a partner? Much like the Euro? Maybe it will be called the [Amerco], for American currency. Yes, in my opinion they are really talking SPP and the North American Union. I’m not talking labor Unions for those who got all excited. No I’m talking about a new economic union. In fact he was exhaulting the benefits of NAFTA. Why wouldn't he do that. It has helped the wealthy considerably while moving jobs north and south that Americans once held. He talked about how prosperous they are becoming. He did  forget to mention many of us are struggling. Oh, well, that really doesn't matter does it?

Now will that be bad for America? Well for those in the know was NAFTA good? Yes, like I just stated, for the 20% who own 80%, right Mr. Clinton. By the way his wife also thinks that is good. We just need to shore up protection for us Americans, yea, right. Just ask our truckers what will happen as these Mexican drivers speed along that new proposed highway being built between Mexico and Canada. But I thought we have no money for infrastructure? Common now, we have for what we want and not what we need. In fact we will make sure those bridges along that route get shored up first. See, we are thinking about you Americans after all.

As for immigration or illegal workers that will all come to be because in my opinion this bunch running have the same goal. Now what we have to work toward is protection of American jobs, the reestablishment of manufacturing here in America, pensions and security and better paying, long lasting jobs with a future. We must do that now with our wallet and voice. Just why can't these same politicans whoa re in office do it now? Why can't they pass the laws now and why do we have to wait until they get re elected? We know why, don't we.

Believe it or not many are making an impact as you can see in the market. My family has changed their shopping habits even though in many things we have little to no choice, like tires. Sure we have American tire companies, just like computer comanies. it is just thatw e don't make much here any more. They do just enough to be called an American Company.  You know what it is like. Just like when they lay people off over 40 and they include the one token 39 year old so they can't be sued for discrimination.

However, the sad part is not all are using thier power. They are just not using their only weapons.Yet,  once you do stop the frivolous buying and start to demand American products things will begin to change because "profits will be down" and few are buying, sound familiar? It will not happen overnight but if you want real protection and not just a façade you better wake up and do something and do it now. Take action and don't just complain. This is just a simple choice and expression of your thoughts. Just let them know.

So don't get me wrong. In my opinion there is nothing wrong with sharing the American dream, just make it fair, eliminate exploitation and greed and excessive profits and you will find many people in support. But continue being naive and you will reap what you have sown.

I think this poem I wrote years ago says quite a bit about it. I wrote and published much poetry before getting into writing.

Robert T. Melaccio Sr. 2007 Copyright ©2007 Robert Melaccio