The Federal Reserve PDF Print E-mail

ZERO CONGRESSIONAL OVERSIGHT

"If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and corporation that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered." Thomas Jefferson

 

By the mid-1700s, the British Empire was approaching its height of power around the world. Britain had fought four wars in Europe since the creation of its privately-owned central bank, the Bank of England. To finance these wars, the British Parliament, rather than issuing its own debt-free currency, had borrowed heavily from the Bank. The Empire had surmounted a debt of £140,000,000 - a staggering sum for those days. Consequently, the British government embarked on a program of trying to raise revenues from its American colonies in order to make the interest payments to the Bank. In 1764, King George III passed a law called the Currency Act which forced the colonies to borrow money from the Central Bank of England at interest, putting the colonies into debt. This offset the economy of the colonies and was widely opposed. Benjamin Franklin later reflected that, “The refusal of King George III to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators, was probably the prime cause of the Revolution.”

 

A central bank is an institution that produces the currency of an entire nation. Two specific powers are inherent in central banking practice: the control of interest rates and the control of the money supply or inflation. The central bank does not simply supply the government’s economy with money. It “loans” it to them, at interest, then through the use of increasing and decreasing the supply of money, the central bank regulates the value of the currency being issued.

 

When Woodrow Wilson became President in 1913, his campaign was funded by a group of bankers who had also written a plan to create a Central Bank. Congress passed this Bill in 1913, two days before Christmas, when many representatives were home with their families. And to honor his commitment to the men who had funded his campaign, Wilson signed this Bill to create the Federal Reserve into law.

 

Years later, Woodrow Wilson wrote this about his decision: “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by a system of credit. We are 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.”

 

The Federal Reserve Bank is not owned or controlled by our Federal Government. It is indeed a private corporation owned by private stockholders.  The "Member Banks" that own the Federal Reserve are: Rothschild Bank of London, Warburg Bank of Hamburg, Rothschild Bank of Berlin, Lehman Brothers of New York, Lazard Brothers of Paris, Kuhn Loeb Bank of New York, Israel Moses Seif Banks of Italy, Goldman Sachs of New York, Warburg Bank of Amsterdam, Chase Manhattan Bank of New York.

 

Despite being privately owned, Congress has absolutely zero oversight over the Federal Reserve. It is a private bank that loans all our money, at interest, to the government. It is exactly the same as the Central Banking model that our Forefathers declared Independence from in the American Revolution. They have over time replaced our system of real money of gold and silver coin with worthless paper, which is against the law according to the Constitution.

 

“It is well enough 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

 

 
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