Even if you issued a competing currency that wasn't as inflationary such as the dollar would be a step in the right direction. Honestly, if the government printed and regulated its own money at least we would have power over the control of it to a degree. If one party got in and started to print more and cause more inflation by lowering the rates to low then you could simply vote the opposite way thus creating some accountability. Now, the regulation of money is being ran by a non government cartel that has no one to answer to. There is no oversight. Most politicians just dont have the intelligence to question them nor the balls. Its a lose lose for the people of this country as their purchasing power is being destroyed with every new bank deposit. This is a very broad outlook, but to me it makes sense. As much as people try to avoid the issue, the debt matters, and i know some here think that mass debt is fine, but its really an albatross around the neck of each American citizen. Just look at when Bretton Woods failed in 71 and they put a fixed rate on the dollar of 35$ per oz. What is that worth today? Under 6.00?? While Gold is what? $700+? That is like a 27 point swing if my math is correct. Im not saying you should tie the money to gold, but it has to be tied something tangible or commodity based IMO.
The best book on the explanation of the Federal Reserve.
http://www.amazon.com/CREATURE-JEKY...=sr_1_2?ie=UTF8&s=books&qid=1225830446&sr=8-2
http://www.amazon.com/CREATURE-JEKY...=sr_1_2?ie=UTF8&s=books&qid=1225830446&sr=8-2
http://www.amazon.com/CREATURE-JEKY...=sr_1_2?ie=UTF8&s=books&qid=1225830446&sr=8-2
The best book on the subject.
The best book on the subject.
Treasure would have to account for how many ozs. gold were in reserves and divide it by how many dollars are in circulation. We would have to abolish the fed and let the price of gold find its own market price after that.
As for debt, we would have to scale back the federal government to Constitutional levels, not all at once of course.
I have heard a lot of arguments about linking our dollar to gold.
For instance what type of gold is going to back our currency?
What if a particular country that is not asset backed puts 250 million dollars in gold on the market what happens to our currency and y.
Last question isnt the fed suppose to prevent the boom and bust cycles. Also did we have these great swings when we were backed by gold and before the federal reserve.
Sorry one more.
If no other country is asset backed doesnt that hurt us doing trade with that particular country. How would this be handled?
For instance what type of gold is going to back our currency?
What if a particular country that is not asset backed puts 250 million dollars in gold on the market what happens to our currency and y.
Last question isnt the fed suppose to prevent the boom and bust cycles. Also did we have these great swings when we were backed by gold and before the federal reserve.
Sorry one more.
If no other country is asset backed doesnt that hurt us doing trade with that particular country. How would this be handled?
Trade is a very complex issue because of the tarrifs that favor the best connected industries. I don't think we should worry about if anyone else has honest money. Let's lead by example and show the world how freedom works, not through the point of a gun but by trade.
Gary North is a writer who has a very good handle on Austrian economics. He published the following. To learn more check out these free books on the is subject:
An Introduction to Austrian Economics
Gary North
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October 15, 2008
Here is a list of five books on Austrian economics. They are listed in the order of difficulty. Download them for free.
Faustino Ballve, Essentials of Economics http://mises.org/books/ballve.pdf
Gene Callahan, Economics for Real People http://mises.org/books/econforrealpeople.pdf
Murray Rothbard, What Has Government Done to Our Money? http://mises.org/money.asp
Murray Rothbard, The Austrian Theory of Money http://mises.org/rothbard/money.pdf Murray Rothbard, Man, Economy, and State http://mises.org/rothbard/mespm.PDF
"If the American People ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property, until their children will wake up homeless on the continent their fathers occupied. The issuing of money should be taken from the banks and restored to Congress and the people to whom it belongs."
- Thomas Jefferson
"Give me control of a nation's money and I care not who makes it's laws."-- Mayer Amschel Bauer Rothschild
How it started:
On the night of November 22, 1910, a group of newspaper reporters stood disconsolately in the railway station at Hoboken, New Jersey. They had just watched a delegation of the nation’s leading financiers leave the station on a secret mission. It would be years before they discovered what that mission was, and even then they would not understand that the history of the United States underwent a drastic change after that night in Hoboken.
The delegation had left in a sealed railway car, with blinds drawn, for an undisclosed destination. They were led by Senator Nelson Aldrich, head of the National Monetary Commission. President Theodore Roosevelt had signed into law the bill creating the National Monetary Commission in 1908, after the tragic Panic of 1907 had resulted in a public outcry that the nation’s monetary system be stabilized. Aldrich had led the members of the Commission on a two-year tour of Europe, spending some three hundred thousand dollars of public money. He had not yet made a report on the results of this trip, nor had he offered any plan for banking reform.
Accompanying Senator Aldrich at the Hoboken station were his private secretary, Shelton; A. Piatt Andrew, Assistant Secretary of the Treasury, and Special Assistant of the National Monetary Commission; Frank Vanderlip, president of the National City Bank of New York, Henry P. Davison, senior partner of J.P. Morgan Company, and generally regarded as Morgan’s personal emissary; and Charles D. Norton, president of the Morgan-dominated First National Bank of New York. Joining the group just before the train left the station were Benjamin Strong, also known as a lieutenant of J.P. Morgan; and Paul Warburg, a recent immigrant from Germany who had joined the banking house of Kuhn, Loeb and Company, New York as a partner earning five hundred thousand dollars a year.
"Picture a party of the nation’s greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily hieing hundred of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance. I am not romancing; I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written . . . . The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done. Senator Aldrich notified each one to go quietly into a private car of which the railroad had received orders to draw up on an unfrequented platform. Off the party set. New York’s ubiquitous reporters had been foiled . . . Nelson (Aldrich) had confided to Henry, Frank, Paul and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank and Henry . . . . Warburg is the link that binds the Aldrich system and the present system together. He more than any one man has made the system possible as a working reality."
Nelson Aldrich
The official biography of Senator Nelson Aldrich states:
"In the autumn of 1910, six men went out to shoot ducks, Aldrich, his secretary Shelton, Andrews, Davison, Vanderlip and Warburg. Reporters were waiting at the Brunswick (Georgia) station. Mr. Davison went out and talked to them. The reporters dispersed and the secret of the strange journey was not divulged. Mr. Aldrich asked him how he had managed it and he did not volunteer the information."
Davison had an excellent reputation as the person who could conciliate warring factions, a role he had performed for J.P. Morgan during the settling of the Money Panic of 1907. Another Morgan partner, T.W. Lamont, says: "Henry P. Davison served as arbitrator of the Jekyll Island expedition."
From these references, it is possible to piece together the story. Aldrich’s private car, which had left Hoboken station with its shades drawn, had taken the financiers to Jekyll Island, Georgia. Some years earlier, a very exclusive group of millionaires, led by J.P. Morgan, had purchased the island as a winter retreat. They called themselves the Jekyll Island Hunt Club, and, at first, the island was used only for hunting expeditions, until the millionaires realized that its pleasant climate offered a warm retreat from the rigors of winters in New York, and began to build splendid mansions, which they called "cottages", for their families’ winter vacations. The club building itself, being quite isolated, was sometimes in demand for stag parties and other pursuits unrelated to hunting. On such occasions, the club members who were not invited to these specific outings were asked not to appear there for a certain number of days. Before Nelson Aldrich’s party had left New York, the club’s members had been notified that the club would be occupied for the next two weeks.
The Jekyll Island Club was chosen as the place to draft the plan for control of the money and credit of the people of the United States, not only because of its isolation, but also because it was the private preserve of the people who were drafting the plan. The New York Times later noted, on May 3, 1931, in commenting on the death of George F. Baker, one of J.P. Morgan’s closest associates, that "Jekyll Island Club has lost one of its most distinguished members. One-sixth of the total wealth of the world was represented by the members of the Jekyll Island Club ." Membership was by inheritance only.
Jekyll Island Club
The Aldrich group had no interest in hunting. Jekyll Island was chosen for the site of the preparation of the central bank because it offered complete privacy, and because there was not a journalist within fifty miles. Such was the need for secrecy that the members of the party agreed, before arriving at Jekyll Island, that no last names would be used at any time during their two week stay. The group later referred to themselves as the First Name Club, as the last names of Warburg, Strong, Vanderlip and the others were prohibited during their stay. The customary attendants had been given two week vacations from the club, and new servants brought in from the mainland for this occasion who did not know the names of any of those present. Even if they had been interrogated after the Aldrich party went back to New York, they could not have given the names. This arrangement proved to be so satisfactory that the members, limited to those who had actually been present at Jekyll Island, later had a number of informal get-togethers in New York.
Why all this secrecy? Why this thousand mile trip in a closed railway car to a remote hunting club? Ostensibly, it was to carry out a program of public service, to prepare banking reform which would be a boon to the people of the United States, which had been ordered by the National monetary Commission. The participants were no strangers to public benefactions. Usually, their names were inscribed on brass plaques, or on the exteriors of buildings which they had donated. This was not the procedure which they followed at Jekyll Island. No brass plaque was ever erected to mark the selfless actions of those who met at their private hunt club in 1910 to improve the lot of every citizen of the United States.
In fact, no benefaction took place at Jekyll Island. The Aldrich group journeyed there in private to write the banking and currency legislation which the National Monetary Commission had been ordered to prepare in public. At stake was the future control of the money and credit of the United States. If any genuine monetary reform had been prepared and presented to Congress, it would have ended the power of the elitist one world money creators. Jekyll Island ensured that a central bank would be established in the United States which would give these bankers everything they had always wanted.
As the most technically proficient of those present, Paul Warburg was charged with doing most of the drafting of the plan. His work would then be discussed and gone over by the rest of the group. Senator Nelson Aldrich was there to see that the completed plan would come out in a form which he could get passed by Congress, and the other bankers were there to include whatever details would be needed to be certain that they got everything they wanted, in a finished draft composed during a onetime stay. After they returned to New York, there could be no second get together to rework their plan. They could not hope to obtain such secrecy for their work on a second journey.
The Jekyll Island group remained at the club for nine days, working furiously to complete their task. Despite the common interests of those present, the work did not proceed without friction. Senator Aldrich, always a domineering person, considered himself the chosen leader of the group, and could not help ordering everyone else about. Aldrich also felt somewhat out of place as the only member who was not a professional banker. He had had substantial banking interests throughout his career, but only as a person who profited from his ownership of bank stock. He knew little about the technical aspects of financial operations. His opposite number, Paul Warburg, believed that every question raised by the group demanded, not merely an answer, but a lecture. He rarely lost an opportunity to give the members a long discourse designed to impress them with the extent of his knowledge of banking. This was resented by the others, and often drew barbed remarks from Aldrich. The natural diplomacy of Henry P. Davison proved to be the catalyst which kept them at their work. Warburg’s thick alien accent grated on them, and constantly reminded them that they had to accept his presence if a central bank plan was to be devised which would guarantee them their future profits. Warburg made little effort to smooth over their prejudices, and contested them on every possible occasion on technical banking questions, which he considered his private preserve.
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world - no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”
- President Woodrow Wilson (in reference to signing into law the Federal Reserve Act)
The seven reasons for abolishing the Fed, as given by Griffin in his book, The Creature from Jekyll Island ,
(1) It is incapable of accomplishing its stated objectives.
(2) It is a cartel operating against the public interest.
(3) It is the supreme instrument of usury [with its treason of "fractional reserve banking", endlessly multiplying the money supply, endlessly multiplying debt, endlessly multiplying inflation].
(4) It generates our most unfair tax [inflation due to constantly increasing money supply].
(5) It encourages war.
(6) It destabilizes the economy.
(7) It is an instrument of totalitarianism.
As economist Antony Sutton noted, “ Warburg’s revolutionary plan to get American society to go to work for Wall Street was astonishingly simple . . . . The Federal Reserve System is a legal private monopoly of the money supply operated for the benefit of the few under the guise of protecting and promoting the public interest.”
"... we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks ... This evil institution has impoverished and ruined the people of the United States... Some people think the Federal Reserve Banks are United States Government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers...
"The Federal Reserve (Banks) are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this Nation is run by the International Bankers.
"Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the Fed. The Fed has cheated the Government of the United States and the people of the United States out of enough money to pay the Nation's debt... The wealth of these United States and the working capital have been taken away from them and has either been locked in the vaults of certain banks and the great corporations or exported to foreign countries for the benefit of foreign customers of these banks and corporations. So far as the people of the United States are concerned, the cupboard is bare.
"When the Federal Reserve Act was passed, the people of these United States did not perceive that a world banking system was being set up here.
A super-state controlled by international bankers and industrialists... acting together to enslave the world... Every effort has been made by the Fed to conceal its powers but the truth is -- the Fed has usurped the government."
-Congressman Louis T. McFadden, Former Chairman of the Committee on Banking and Currency
"The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." -- Rothschild Brothers of London, 1863
"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford
"This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson} signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill." -- Charles A. Lindbergh, Sr. , 1913
"From now on, depressions will be scientifically created." -- Congressman Charles A. Lindbergh Sr. , 1913
Mayer Rothschild, a London Banker, and one of the private FED member banks, wrote:
"It (The FED) gives almost complete control of the U.S. national finances. The few who understand the system will either be so interested in its obtaining the vast profits from this scheme, or so dependent on its favors, that there will be no opposition from that class. The great body of the people, mentally incapable of comprehending such a plan, will bear its burden without complaint, and perhaps without even suspecting that the system is contrary to their interests."
Paper Money and Tyranny:
All great republics throughout history cherished sound money. This meant that the monetary unit was a commodity of honest weight and purity. When money was sound, civilizations were found to be more prosperous and freedom thrived. The less free a society becomes, the greater the likelihood its money is being debased and the economic well-being of its citizens diminished.
- Thomas Jefferson
"Give me control of a nation's money and I care not who makes it's laws."-- Mayer Amschel Bauer Rothschild
How it started:
On the night of November 22, 1910, a group of newspaper reporters stood disconsolately in the railway station at Hoboken, New Jersey. They had just watched a delegation of the nation’s leading financiers leave the station on a secret mission. It would be years before they discovered what that mission was, and even then they would not understand that the history of the United States underwent a drastic change after that night in Hoboken.
The delegation had left in a sealed railway car, with blinds drawn, for an undisclosed destination. They were led by Senator Nelson Aldrich, head of the National Monetary Commission. President Theodore Roosevelt had signed into law the bill creating the National Monetary Commission in 1908, after the tragic Panic of 1907 had resulted in a public outcry that the nation’s monetary system be stabilized. Aldrich had led the members of the Commission on a two-year tour of Europe, spending some three hundred thousand dollars of public money. He had not yet made a report on the results of this trip, nor had he offered any plan for banking reform.
Accompanying Senator Aldrich at the Hoboken station were his private secretary, Shelton; A. Piatt Andrew, Assistant Secretary of the Treasury, and Special Assistant of the National Monetary Commission; Frank Vanderlip, president of the National City Bank of New York, Henry P. Davison, senior partner of J.P. Morgan Company, and generally regarded as Morgan’s personal emissary; and Charles D. Norton, president of the Morgan-dominated First National Bank of New York. Joining the group just before the train left the station were Benjamin Strong, also known as a lieutenant of J.P. Morgan; and Paul Warburg, a recent immigrant from Germany who had joined the banking house of Kuhn, Loeb and Company, New York as a partner earning five hundred thousand dollars a year.
"Picture a party of the nation’s greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily hieing hundred of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance. I am not romancing; I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written . . . . The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done. Senator Aldrich notified each one to go quietly into a private car of which the railroad had received orders to draw up on an unfrequented platform. Off the party set. New York’s ubiquitous reporters had been foiled . . . Nelson (Aldrich) had confided to Henry, Frank, Paul and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank and Henry . . . . Warburg is the link that binds the Aldrich system and the present system together. He more than any one man has made the system possible as a working reality."
The official biography of Senator Nelson Aldrich states:
"In the autumn of 1910, six men went out to shoot ducks, Aldrich, his secretary Shelton, Andrews, Davison, Vanderlip and Warburg. Reporters were waiting at the Brunswick (Georgia) station. Mr. Davison went out and talked to them. The reporters dispersed and the secret of the strange journey was not divulged. Mr. Aldrich asked him how he had managed it and he did not volunteer the information."
Davison had an excellent reputation as the person who could conciliate warring factions, a role he had performed for J.P. Morgan during the settling of the Money Panic of 1907. Another Morgan partner, T.W. Lamont, says: "Henry P. Davison served as arbitrator of the Jekyll Island expedition."
From these references, it is possible to piece together the story. Aldrich’s private car, which had left Hoboken station with its shades drawn, had taken the financiers to Jekyll Island, Georgia. Some years earlier, a very exclusive group of millionaires, led by J.P. Morgan, had purchased the island as a winter retreat. They called themselves the Jekyll Island Hunt Club, and, at first, the island was used only for hunting expeditions, until the millionaires realized that its pleasant climate offered a warm retreat from the rigors of winters in New York, and began to build splendid mansions, which they called "cottages", for their families’ winter vacations. The club building itself, being quite isolated, was sometimes in demand for stag parties and other pursuits unrelated to hunting. On such occasions, the club members who were not invited to these specific outings were asked not to appear there for a certain number of days. Before Nelson Aldrich’s party had left New York, the club’s members had been notified that the club would be occupied for the next two weeks.
The Jekyll Island Club was chosen as the place to draft the plan for control of the money and credit of the people of the United States, not only because of its isolation, but also because it was the private preserve of the people who were drafting the plan. The New York Times later noted, on May 3, 1931, in commenting on the death of George F. Baker, one of J.P. Morgan’s closest associates, that "Jekyll Island Club has lost one of its most distinguished members. One-sixth of the total wealth of the world was represented by the members of the Jekyll Island Club ." Membership was by inheritance only.
Jekyll Island Club
The Aldrich group had no interest in hunting. Jekyll Island was chosen for the site of the preparation of the central bank because it offered complete privacy, and because there was not a journalist within fifty miles. Such was the need for secrecy that the members of the party agreed, before arriving at Jekyll Island, that no last names would be used at any time during their two week stay. The group later referred to themselves as the First Name Club, as the last names of Warburg, Strong, Vanderlip and the others were prohibited during their stay. The customary attendants had been given two week vacations from the club, and new servants brought in from the mainland for this occasion who did not know the names of any of those present. Even if they had been interrogated after the Aldrich party went back to New York, they could not have given the names. This arrangement proved to be so satisfactory that the members, limited to those who had actually been present at Jekyll Island, later had a number of informal get-togethers in New York.
Why all this secrecy? Why this thousand mile trip in a closed railway car to a remote hunting club? Ostensibly, it was to carry out a program of public service, to prepare banking reform which would be a boon to the people of the United States, which had been ordered by the National monetary Commission. The participants were no strangers to public benefactions. Usually, their names were inscribed on brass plaques, or on the exteriors of buildings which they had donated. This was not the procedure which they followed at Jekyll Island. No brass plaque was ever erected to mark the selfless actions of those who met at their private hunt club in 1910 to improve the lot of every citizen of the United States.
In fact, no benefaction took place at Jekyll Island. The Aldrich group journeyed there in private to write the banking and currency legislation which the National Monetary Commission had been ordered to prepare in public. At stake was the future control of the money and credit of the United States. If any genuine monetary reform had been prepared and presented to Congress, it would have ended the power of the elitist one world money creators. Jekyll Island ensured that a central bank would be established in the United States which would give these bankers everything they had always wanted.
As the most technically proficient of those present, Paul Warburg was charged with doing most of the drafting of the plan. His work would then be discussed and gone over by the rest of the group. Senator Nelson Aldrich was there to see that the completed plan would come out in a form which he could get passed by Congress, and the other bankers were there to include whatever details would be needed to be certain that they got everything they wanted, in a finished draft composed during a onetime stay. After they returned to New York, there could be no second get together to rework their plan. They could not hope to obtain such secrecy for their work on a second journey.
The Jekyll Island group remained at the club for nine days, working furiously to complete their task. Despite the common interests of those present, the work did not proceed without friction. Senator Aldrich, always a domineering person, considered himself the chosen leader of the group, and could not help ordering everyone else about. Aldrich also felt somewhat out of place as the only member who was not a professional banker. He had had substantial banking interests throughout his career, but only as a person who profited from his ownership of bank stock. He knew little about the technical aspects of financial operations. His opposite number, Paul Warburg, believed that every question raised by the group demanded, not merely an answer, but a lecture. He rarely lost an opportunity to give the members a long discourse designed to impress them with the extent of his knowledge of banking. This was resented by the others, and often drew barbed remarks from Aldrich. The natural diplomacy of Henry P. Davison proved to be the catalyst which kept them at their work. Warburg’s thick alien accent grated on them, and constantly reminded them that they had to accept his presence if a central bank plan was to be devised which would guarantee them their future profits. Warburg made little effort to smooth over their prejudices, and contested them on every possible occasion on technical banking questions, which he considered his private preserve.
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world - no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”
- President Woodrow Wilson (in reference to signing into law the Federal Reserve Act)
The seven reasons for abolishing the Fed, as given by Griffin in his book, The Creature from Jekyll Island ,
(1) It is incapable of accomplishing its stated objectives.
(2) It is a cartel operating against the public interest.
(3) It is the supreme instrument of usury [with its treason of "fractional reserve banking", endlessly multiplying the money supply, endlessly multiplying debt, endlessly multiplying inflation].
(4) It generates our most unfair tax [inflation due to constantly increasing money supply].
(5) It encourages war.
(6) It destabilizes the economy.
(7) It is an instrument of totalitarianism.
As economist Antony Sutton noted, “ Warburg’s revolutionary plan to get American society to go to work for Wall Street was astonishingly simple . . . . The Federal Reserve System is a legal private monopoly of the money supply operated for the benefit of the few under the guise of protecting and promoting the public interest.”
"... we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks ... This evil institution has impoverished and ruined the people of the United States... Some people think the Federal Reserve Banks are United States Government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers...
"The Federal Reserve (Banks) are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this Nation is run by the International Bankers.
"Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the Fed. The Fed has cheated the Government of the United States and the people of the United States out of enough money to pay the Nation's debt... The wealth of these United States and the working capital have been taken away from them and has either been locked in the vaults of certain banks and the great corporations or exported to foreign countries for the benefit of foreign customers of these banks and corporations. So far as the people of the United States are concerned, the cupboard is bare.
"When the Federal Reserve Act was passed, the people of these United States did not perceive that a world banking system was being set up here.
A super-state controlled by international bankers and industrialists... acting together to enslave the world... Every effort has been made by the Fed to conceal its powers but the truth is -- the Fed has usurped the government."
-Congressman Louis T. McFadden, Former Chairman of the Committee on Banking and Currency
"The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." -- Rothschild Brothers of London, 1863
"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford
"This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson} signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill." -- Charles A. Lindbergh, Sr. , 1913
"From now on, depressions will be scientifically created." -- Congressman Charles A. Lindbergh Sr. , 1913
Mayer Rothschild, a London Banker, and one of the private FED member banks, wrote:
"It (The FED) gives almost complete control of the U.S. national finances. The few who understand the system will either be so interested in its obtaining the vast profits from this scheme, or so dependent on its favors, that there will be no opposition from that class. The great body of the people, mentally incapable of comprehending such a plan, will bear its burden without complaint, and perhaps without even suspecting that the system is contrary to their interests."
Paper Money and Tyranny:
All great republics throughout history cherished sound money. This meant that the monetary unit was a commodity of honest weight and purity. When money was sound, civilizations were found to be more prosperous and freedom thrived. The less free a society becomes, the greater the likelihood its money is being debased and the economic well-being of its citizens diminished.
For most of the them it's their bookies money. LOL Kind of like the Fed who is now Bookie to Wall Street.. Wall Street gambled and lost big. Now we are going to give socialism a try because if we create 1 million more government jobs that is progress.. Look up Ponzi Scheme and tell me how that is different from social security, welfare, or a socialist government.
