The Federal Reserve

"If the American people ever allow private 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 their property until their children will wake up homeless on the continent their fathers conquered." ~ Thomas JeffersonExcerpts from Rep. Louis T. McFadden's speech on the floor of the House of Representatives, June 10, 1932: 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. The Federal Reserve Board, a Government board, has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal Reserve banks acting together have cost this country enough money to pay the national debt several times over. ...Some people think the Federal reserve banks are United States Government institutions. They are not 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, foreign and domestic speculators and swindlers, and rich and predatory money lenders. ...Those 12 private credit monopolies were deceitfully and disloyally foisted upon this country by bankers who came here from Europe and who repaid us for our hospitality by undermining our American institutions. Those bankers took money out of this country to finance Japan in a war against Russia. They created a reign of terror in Russia with our money in order to help that war along. They instigated the separate peace between Germany and Russia and thus drove a wedge between the Allies in the World War. ...Every effort has been made by the Federal Reserve Board to conceal its power but the truth is the Federal Reserve Board has usurped the Government of the United States. ...Mr. Chairman, when the Federal reserve act was passed the people of the United States did not perceive that a world system was being set up here which would make the savings of an American school-teacher available to a narcotic-drug vendor in Macao. They did not perceive that the United States was to be lowered to the position of a coolie country which has nothing but raw materials and heavy goods for export. That Russia was destined to supply man power and that this country was to supply financial power to an international superstate--a superstate controlled by International bankers and international industrialists acting together to enslave the world for their own pleasure.Congressional Record, 72nd Congress, 1st session, June 10, 1932; Vol. 72, pp. 12595-12603. McFadden served as Chairman of the United States House Committee on Banking and Currency 1920 to 1931. Congressman Charles August Lindbergh, Sr., father of the historic aviator, said on the floor of the Congress: "This Act establishes the most gigantic trust on Earth ... When the President signs this Act, the invisible government by the Money Power, proven to exist by the Money Trust investigation, will be legalized ... This is the Aldrich Bill in disguise ... The new law will create inflation whenever the Trusts want inflation ... From now on, depressions will be scientifically created ... The worst legislative crime of the ages is perpetrated by this banking and currency bill."John Maynard Keynes, The Economic Consequences of the Peace, 1920, page 235ff "Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency. . . Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose."Accounting for the Rothschild Wealth and InfluenceMorton (1962) noted that the Rothschild wealth was estimated at over $6 billion US in 1850. Not a significant amount in today's dollars; however, consider the potential future value compounded over 147 years!Taking $6 billion (and assuming no erosion of the wealth base) and compounding that figure at various returns on investment (a conservative range of 4% to 8%) would suggest the following net worth of the Rothschild family enterprise:$1.9 trillion US (@ 4%)$7.8 trillion US (@ 5%)$31.5 trillion US (@ 6%)$125,189.1 trillion US (@ 7%)$491,409.0 trillion US (@ 8%)

Channel: Education
Uploaded: November 30, 1999 at 12:00 am
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