#Usury Special - How the #government #FED & #banks intentionally #STEAL your #money through #debt #slavery

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@philadelphiafed Plz explain 2 us mere mortals how a 10% interest cap is bad? Didn't our problems begin in 1979 when #congress & #FED abolished states rights to impose #usury #laws? Isn't that when #greed took over & entrapping ppl in #debt #slavery became common business practice?
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You CANNOT and SHOULD NOT depend on governmental agencies such as the SEC and CFTC nor the Federal Reserve Bank to protect you as a consumer.. They are all part of the same cabal that threatens to rip this country apart by totally destroying our economy..

Please view the series of short videos below to educate yourself about usury. Where it came from, what it is about and how it has been used to enslave people to debt for centuries..

USURY - Sharks Disguised As Financial Institutions (10 minutes)

The Usury States of America (Prof. Warren and Bill Maher) (4 1/2 minutes)

Slavery by Consent Pt.5 (Usury) (7 1/2 minutes)

Usury Killed Economy CEPersVid-25 (9 minutes)

Usury statutes in the United States

Each U.S. state has its own statute which dictates how much interest can be charged before it is considered usurious or unlawful.

If a lender charges above the lawful interest rate, a court will not allow the lender to sue to recover the debt because the interest rate was illegal anyway. In some states (such as New York) such loans are voided ab initio[33]

However, there are separate rules applied to most banks. The U.S. Supreme Court held unanimously in the 1978 Marquette Nat. Bank of Minneapolis v. First of Omaha Service Corp. case that the National Banking Act of 1863 allowed nationally chartered banks to charge the legal rate of interest in their state regardless of the borrower's state of residence.[34] In 1980, because of inflation, Congress passed the Depository Institutions Deregulation and Monetary Control Act exempting federally chartered savings banks, installment plan sellers and chartered loan companies from state usury limits. This effectively overrode all state and local usury laws.[35][36] The 1968 Truth in Lending Act does not regulate rates, except in the cases of some mortgages, but it does require uniform or standardized disclosure of costs and charges.[37]

In the 1996 Smiley v. Citibank case, the Supreme Court further limited states' power to regulate credit card fees, extending the reach of the Marquette decision. The court held that the word "interest" used in the 1863 banking law included fees, and, therefore, that states could not regulate fees.[38]

Some members of Congress have tried to create a federal usury statute that would limit the maximum allowable interest rate, but the measures have not progressed. In July, 2010, the Dodd–Frank Wall Street Reform and Consumer Protection Act, was signed into law by President Obama. The act provides for a Consumer Financial Protection Agency to regulate some credit practices, but does not have an interest rate limit.[39]

For a more in depth discussion on the history of usury, which includes the information above, please see this Wikipedia article

The government and the FED and the banks and the multinational corporations have done, and will do, NOTHING to correct this usurious CANCER that is destroying American life. For that reason WE must be proactive in putting the banks and all usurious corporations where they belong, in bankruptcy court.

Greg