- The Washington Times - Wednesday, November 17, 2010

The private banks in America are getting interest on their reserves from the Federal Reserve System. Banks won’t pay any interest on savings anymore. They don’t have to, when they get interest on their reserves.

Many bankers don’t know that the Fed is not actually a federal institution. It was foisted upon Americans by Congress and President Woodrow Wilson. The Fed has no business getting into the workings of the privately owned banks, and they need to form a coalition to put the Fed out of business. The Fed’s thievery is partly responsible for our heavy debt. It refuses an audit, and its printing presses should be padlocked. Andrew Jackson, Abraham Lincoln and others fought the central bank idea, but bad choices in government seem to prevail most of the time. Our foot’s in the door now - let’s hope we can break the door down.

DON P. SIMONS

Yukon, Okla.