THERE MUST BE NO CRITICISM OF THE PRESIDENT

[lord edward coke]

“TO ANNOUNCE THAT THERE MUST BE NO CRITICISM OF THE PRESIDENT, OR THAT WE ARE TO STAND BY THE PRESIDENT, RIGHT OR WRONG, IS NOT ONLY UNPATRIOTIC AND SERVILE, BUT IS MORALLY TREASONABLE TO THE AMERICAN PUBLIC.”

Theodore Roosevelt, President

 
Theodore RooseveltNote:

Congressional Record
PROCEEDINGS AND DEBATES OF THE 83RD CONGRESS, SECOND SESSION

The Great Conspiracy to Destroy the United States
SPEECH of

HON. USHER L. BURDICK

OF NORTH DAKOTA

IN THE HOUSE OF REPRESENTATIVES

Wednesday, April 28, 1954

The SPEAKER pro temNewswatch Magazine November 2008 pore. Under previous order of the House, the gentleman from North Dakota is recognized for 30 minutes.

 
“Mr. BURDICK. Mr. Speaker, there can be NO doubt that there now exists a widespread understanding and agreement made between the agents of this [U.S.] Government and the United Nations AND the North Atlantic Treaty Organization [NATO] to BUILD a world government, and to make the United States a part of it, regardless of our Constitution, laws, and traditions. This is done in the name of PEACE, BUT will result in the total destruction of our liberty. The agents representing the United States may not be deliberately trying to do this treasonable work, but the best that can be said for them is that they are dupes. Some mighty important people who are United States citizens are not only going along with this scheme, but are daily and hourly contributing ALL their efforts in that direction.

“What PROOF do we have to back up this general statement? (That NATO -which is Europe, the U.S., and the United Nations want to build a World Government.) The purpose of this speech is to lay this proof before the American people.

“First of all, the people of the United States were so completely sick of war after World War II that these schemers found a fertile field to exploit. They appealed to churches, schools, and every other organization they could reach, on the basis that the way to secure peace in the world was to organize a United Nations group, and that through the machinery which they proposed to set up, wars could be stopped before they started. It seemed like a plausible idea, and not knowing the sinister purpose behind the move, millions of people supported the suggestion.

“The first move was made at San Francisco, where many nations met, drew up a charter, and submitted that charter to the Senate of the United States for approval as a treaty.

“This document had NONE of the earmarks of a treaty, because the Supreme Court of the United States has held in many cases that a treaty is an agreement made between nations,... In the case of the Charter

of the United Nations, it was NOT an agreement between nations. ... The dark forces behind this move knew that the United Nations was NOT a nation with which we could make a treaty, but intended to make it an integral power at the first opportunity. How these forces of evil planned to make the United Nations a nation is clear now, since they propose ... to build a WORLD GOVERNMENT by simply amending the Charter of the United Nations. Who were the principal movers at San Francisco..? The answer is the Russian Communists and Alger Hiss, a representative of our State Department. That is the same Alger Hiss who was convicted for PERJURY when he denied sending secret material to the Soviet Union representatives...
“If the REAL purpose of this charter was to outline a method to secure and preserve world peace, why was it necessary in that charter to make an assault upon the Constitution of the United States? ...

“Here you see again that world peace was NOT the object of this scheme at all. The real purpose was to BUILD a World Government, controlled by the Communists and their dupes in the United States. [Author’s note: Mr. Burdick did not understand that Communism was founded by members of the Illuminati from Bavaria, Germany. Communism is only a “tool” they are using to destablize the world; therefore, the United Nations would be a logical option to bring peace - exactly what the “Shadow Government” and the CIA want.) ...

“Does anyone who is acquainted with these FACTS want to say that the United Nations is not trying to REWRITE our Constitution, with the aid and support of Communists and revolutionists (which is what the “Shadow Government” is)? Just why is it necessary to emasculate our

Newswatch Magazine November 2008 Constitution if the only object of the United Nations is world peace?

“It is necessary to CHANGE our Constitution in order to carry out the design and CONSPIRACY to build a world government. Is it not perfectly clear to you now that this (world government) was the REAL PURPOSE of the framers of the United Nations from the very beginning? It should be obvious to any fairminded person.” [End of speech]

Alabama Investigates the United Nations
On March 31, 1965, Archibald E. Roberts, Lt.Col, AUS, ret (c1962), addressed a joint session of the Alabama Legislature and presented, “A Proposal to Insure that the Limits of the U.S. Constitution are Respected within the Borders of the State of Alabama” (Congressional Record, April 13, 1965).

Why would Lt.Col. Roberts be asked to speak to the Alabama Legislature? This was Alabama’s concern:

“Our examination of interlocking SUBVERSION in governmental departments and the malignant power block comprising internationalists and their agents, now forces upon us the hard NECESSITY of a realistic reassessment of the United Nations and its charter.

“A paramount issue revealed in this study is the ugly fact that concealed international planners manipulate the highest echelons of our government. They organize world-wide political apparatuses, and they generate long-range revolutionary movements so as to infiltrate and DESTROY existing American social, economic, and religious disciplines with the objective of erecting upon the ruins a one-world COLLECTIVIST state.

“It is now conclusively revealed that the United Nations is a prime agency for the accomplishment of these subversive

U N Army

objectives. It is revealed that Planners are working to have the Charter of the United Nations supersede the United States Constitution as the ‘Law of the Land.’

“It is revealed that the United Nations Security Council, NOT the Congress of the United States, now directs deployment of American armed forces throughout the world. It has been revealed that American military forces have been surreptitiously transferred to a United Nations army. It is revealed that the Commander-in-Chief of the United Nations army IS, and ALWAYS WILL BE, a Soviet Communist.

“It is revealed that the prime justification for the existence of the United Nations Organization is found in the Security Council, the WARWAGING arm of the U.N., and that this whole set-up HAS NOTHING TO DO WITH ‘PEACE.’

“It is revealed that the FIRST OBJECTIVE of the United Nations is to GET CONTROL of enough military power - U.S. military power - TO FORCE ALL OF THE NATIONS OF THE WORLD INTO LINE

AND TO DELIVER THEM UP TO A ONE-WORLD GOVERN

MENT.

“And it is revealed that the U.S. Department of State and other government agencies are ACTIVELY ENGAGED in promoting these felonious objectives.

“The United Nations is, IN FACT, a revolutionary apparatus DESIGNED for global conquest. It is obvious that continuing U.S. membership in the United Nations constitutes a real and PRESENT DANGER to the sovereignty, to the freedom, to the proper interest, and to the security of the United States and to its people.

“Frequent requests and demands have been made upon the Senate of the United States to REVIEW the Charter of the United Nations and to [determine] what may be necessary to protect the interests of the United States and the people. The Senate has not only failed to comply with these demands, but has delegated more power over our people and over our military establishment to the SUBVERSIVE United Nations.

“Therefore, in the light of these failures and BECAUSE events in Washington, DC, disclose that Americans have lost CONTROL of the Federal Government, I (Archibald E. Roberts, Lt.Col., AUS, ret [c1962]) propose that, ‘...We, the people’ act to force our State Governments to do what may be necessary to ‘...Support and Defend the Constitution of the United States,’ and to protect the interests of the people.

“I suggest that you and I, being the last reserves in the struggle against the United Nations tyranny, generate appropriate state legislative action so that we may ‘...maintain our Freedom on this Continent.’...”

The question becomes Is the United Nations Really a Threat to U.S. Sovereignty?

On April 20, 1970, an article appeared in the Anaheim Bulletin [CA] entitled “Executive J -The United Nations is given full diplomatic recognition of being a sovereign world government.” The article stated:

“Historians of the future may point to March 19, 1970, as the day when the United States of America became an ARM of a One World Government. It happened quietly, unnoticed by the press, in a Senate chamber only partly filled, as a few Senators waited their turns...[The floor speaker stated]: ‘The Senate will proceed to vote on Executive J, first session, 91st Congress, the Convention on the Privileges and Immunities of the United Nations.’ At the end of the count, the vote showed 78 yeas and zero negatives, with 22 senators absent. So it was that the United Nations would no longer be honored as a mere ‘International Organization.’ It now has the status of FULL diplomatic recognition as a SOVEREIGN GOVERNMENT.”

This evento ccurred long before Senator Jesse Helms was elected as Senator from North Carolina. When he went to New York to speak to the Security Council of the U.N., did he KNOW our senate in 1970 accepted the U.N. as an official world government with the United States subjected to it? Apparently not! Otherwise, why would he have spoken of withdrawing if respect for U.S. sovereignty was not recognized!? The Security Council NEITHER applauded his speech nor cared what he said.

Did we not read what these Patriots had said about the United Nations being a war machine and controlled by a Soviet Communist? How could America ever win a war with a Communist calling the shots?

The Korean War
The Council on Foreign Relations was established after World War 1 in Paris, France, in 1919 by Col. Edward Mandell House [a Marxist-Communist] and others from the United States and England. This organization was to infiltrate into the government to formulate policies to advance the conspiracy for world government. This organization is not even a part of the United States government, yet in 1944, it prepared a confidential memorandum for the State Department that

DESIGNED our involvement in the Korean War.

“The SOVEREIGNTY fetish is still strong in the public mind, that there would appear LITTLE chance of winning popular assent to American membership in anything approaching a SUPERSTATE organization. Much will depend on the kind of approach which is used in further popular education....a further difficulty was cited, namely that (difficulty) arising from the Constitutional provision that only Congress may declare war. This argument was countered with the contention that a TREATY would OVERRIDE this barrier, let alone the fact that our participation in such police action as might be recommended by the international security organization need not necessarily be construed as war” (American Opinion Magazine, December 1980, p.35).This PLAN was in 1944 before the United Nations had been established or the Korean War was fought. They already had planned HOW to take us into war without consent of Congress.They KNEW they could convince America that Treaty Law superceded our Constitution - when it was NEVER intended to be so or we would have NO Constitution at all.

This Treaty that was designed to circumvent our Constitution was signed in 1945. It is called the United Nations Organization Treaty. It was signed in San Francisco with practically ALL of our representatives being members of the Council on Foreign Relations and later proven in sworn testimony to be secret Communists.

Carroll Quigley, Professor at Georgetown University, said concerning the Korean War: “....for the FIRST time, a world organization voted to use collective force to stop armed aggression” (Tragedy & Hope, by Carroll Quigley, p. 972). Yet this war, according to the memo sent to the State Department before the end of World War 11, was already planned. They only needed a way around the Constitution that required Congress to declare war.

 
Winston Churchill, Joseph Stalin, and Franklin Delano Roosevelt represented the Allied governments after World War 11 at the Potsdam and Yalta conferences. They agreed to divide Korea into two separate nations - North and South. WHY?

To start the war that had been planned since 1944, to destroy the American will to resist was why! North Korea quickly raised an army of 187,000 men, supplied war materials by the Soviet Union, who received them from the U.S. during the war on Lend-Lease programs - FREE! (The Untold Story of Douglas MacArthur, by Frazier Hunt, p.447).

http://www.newswatchmagazine.org/nov08/index2.shtml

[Mber]

The critics of this of course will use the "our world has changed since then" counter-point.

bleh

[lord edward coke]

The Coming Economic Collapse!
Part 18
By Devvy Kidd and David J. Smith
“And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see you hurt not the oil and the wine” (Revelation 6: 5-6).

The Apostle John saw something for the end of the age that was quite disturbing. He had seen religious infiltration to water down religion [white horse]. He saw the rise of wars of liberation, killing of nearly half the population of nations that were overthrown for communism [red horse]. Suddenly, he sees an economic collapse to further the drive toward a world government, with all nations losing their national sovereignty and becoming slaves to the power elite. The seals of the Book of Revelation reveal Satan’s tactics to establish world government under his man (Revelation 13: 2).

How Will World Government Be Achieved?

“Give me control over a nation’s currency and I care not who makes its laws.” Baron M. A. Rothschild (1744-1812 AD)

“Whoever controls the volume of money in any country is master of all its legislation and commerce.” President James Garfield (1831-1881 AD)

Exposing the Illuminati’s Fraud

Let us begin by exposing this mysterious entity known as the Federal Reserve Banking System. This entity is not part of our government. The “Fed” is privately owned by a select group of powerful individuals and private banking cartels. Its express purpose is to fleece the American people by stealing our money under the pretext of a “central banking system” that calls itself Federal. Yet, it is no more a part of, or controlled by, the Federal Government than is Federal Express!

The U.S. Constitution, Article 1 section 8 states:

“Congress shall ... have the power to coin money, regulate the value thereof.”

This authority is granted and vested only in the U.S. Congress. On April 19, 1982, the U.S. Court of Appeals, Ninth Circuit Court ruled the “Federal Reserve Banks are privately owned, locally controlled corporations” [Lewis vs. U.S.].

Chairman Louis T. McFadden of the House Banking and Currency Committee, addressed the House on June 10, 1932:

“Some people think the Federal Reserve Banks are U.S. government institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the U.S. for the benefit of themselves and their foreign and domestic swindlers, and rich and predatory money lenders.” [75 Congressional Record 12595-12603]

In a speech delivered before the Washington Chamber of Commerce in 1921, William G. Harding, Governor of the Federal Reserve Board stated:

“From a legal standpoint these banks are private corporations, organized under a special act of Congress, namely, the Federal Reserve Act. They are not in the strict sense of the word Government banks.”

This “special act” by Congress in 1913 was in direct violation of the 16th Corpus Juris Secundum, Section 141, which states that Congress cannot delegate or sign over its authority to any individual, corporation, or foreign nation. Yet, that is exactly what occurred in December of 1913 by a select group of individuals in the U.S. Congress. That “special act” has become the biggest fraud in the history of the United States.

It is mathematically impossible to pay off the national debt when examing the origin of money under this central banking system. According to William H. Ferkler, Manager of Public Affairs, Department of Treasury, Bureau of Engraving & Printing, Washington, D.C.: “As we have advised, the Federal Reserve is currently paying the Bureau approximately $23 for each 1,000 notes printed. This does include the cost of printing, paper, ink, labor, etc. Therefore, 10,000 notes of ANY denomination, including the $100 note would cost the Federal Reserve $230. In addition, the Federal Reserve must secure a pledge of collateral equal to the face value of the notes.”

In ordering these illegal notes or promise to repay into existence by sending a purchase order to the Bureau of Engraving for 10,000 notes, at a total cost of $230 to the Federal Reserve, this private banking cartel, not WE the People, thereby obtain a pledge of collateral equal to their face value of $50,000 if they are $5 dollar bills, or $100,000 if they print $10 bills, or$200,000 if they order $20 bills; $500,000 if they have printed $50 bills; $1,000,000 if they order $100 bills; $5,000,000 if they order $500 bills, or $100,000,000 if they print $10,000 bills. This pledge is made to the Federal Reserve Cartel by Congress, and the collateral to which Congress pledges is the land, labor, and ASSETS of the American people. What a racket!!!

This private entity known as “the Fed” was incorporated in 1914 and has been creating a completely unnecessary national debt ever since. Simply stated: The Fed creates money AS DEBT. The Fed creates money out of thin air. This is accomplished at the stroke of a pen with nothing more than a book entry when the members of the Federal Reserve System make loans to the government, to banks, to businesses, and to individuals. This DEBT, money is the money suppy we are forced to use.

The Federal Reserve Systems’ banks charge USURY [interest] on the created debt money. We American citizens are obligated to repay this debt money, PLUS the usury [interest]. However, the money to pay the usury on the debt is never created within the system. Loan repayments to banks reduce the money supply, because the money is removed from circulation when the debt is repaid. To keep the money supply from shrinking, MORE borrowing is necessary. It is mathematically impossible to pay off the aggregate debt principle plus the aggregate usury.

In a futile attempt to avoid the day of reckoning, borrowers are forced to take on increasing amounts of debt to pay not only the principal of the debt, but the usury as well. Debt escalates at an expotential rate until borrowers are forced into bankruptcy. This phenomena is not unique to government borrowing, but applies as well to individuals and businesses. The ultimate consequences are: involuntary unemployment, inflation, burdensome usury rates, and the calculated loss of our inherited rights and freedoms, and the confiscation of our property.

We should heed the wise words of Daniel Webster: “A disordered currency is one of the greatest political evils. It undermines the virtues necessary for the support of the social system, and encourages propensities destructive to its happiness. It wars against industry, frugality and economy, and it fosters evil spirits of extravagance and speculation. Of all the contrivances for cheating the laboring classes of mankind, NONE has been more effectual than that which deludes them with PAPER MONEY.” [Congressional Record, March 4, 1946]

This is now what we have - paper money. If Congress does not rectify the matter, the whole house of paper money is going to fall down around our heads within a few short years. The ultimate mathematical equation is complete and total bankruptcy for all but the elite few is certain. Tens of thousands of Americans have been begging Congress to stop this fraud for over 30 years to no avail. All that Americans have received is more and more taxation to feed this monster and the debt it creates.

Louis T. McFadden, Chairman of the House Banking Committee, speaking about the international financial conspirators during the very time they were taking over the monetary control of America stated: “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. They are NOT government institutions. They are private monopolies which prey upon the People of the United States for the benefit of themselves and their foreign and domestic swindlers; rich and predatory moneylenders.” McFadden died under very mysterious circumstances in 1936 after three previous attempts on his life.

George W. Malone, U.S. Senator from Nevada, speaking before Congress in 1957 alluded to the families that secretly own the Federal Reserve Bank and control the finances of the U.S.: “I believe that if the people of this nation fully understood what Congress has done to them over the past 49 years, they would move on Washington; they would not wait for an election ... It adds up to a preconceived plan to destroy the economic and social independence of the United States.”

The time will come when 100% of every federal income tax dollar you are coerced to pay will go just to service the interest on the national debt.

“The actual deficits are almost twice as large as those admitted by government. So WHY has not our economy collapsed? Because the American people still have confidence in ‘the system.’ The heart of the system depends on borrowing to fund the budget deficits each year. The interest on a $3 trillion debt amounts to $240 billion annually, or about 40 percent of all personal income taxes paid. When this debt swells to $20 trillion in nine years or so, the annual interest will be $1.6 trillion, or about 200 percent of all personal income taxes projected for that year (at a 33 percent rate).”

(Larry Burkett, The Coming Economic Earthquake, p. 90)

We have yet to pay a dime toward the principal of this alleged debt; and because of the modern banking miracle of compound interest, the debt continues to rise unabated. Whose debt is it anyway? Is this what we work our fingers to the bone for - to pay USURY to a private group of bankers who make up the Fed? Some of those stockholders are identified as: Rothschilds of London and Berlin, Lazard Bros. of Paris, Israel Mossesschieff of Italy, Kuhn and Loeb of Germany, Warburg of Hamburg, Lehman Bros. of New York, Goldman and Sachs of New York, and Rockefellers of New York.Not you or I, not America, not the U.S. Government, but a consortium of private international banking families and their stockholders collects the usury and controls our economic life!!!

The Federal Reserve System takes in about a trillion dollars yearly. Our Congress gives them special exemption from paying taxes on their illegally obtained income. They pay only real estate taxes while we pay to make them rich beyond our wildest imagination, and Americans slide further and further into personal bankruptcy and despair.

The Fed violates your 13th Amendment Constitutional rights by placing We the People into involuntary servitude. By forcing us to use an illegal medium of worthless currency, indebted with interest that can never be paid back, we are placed into involuntary servitude to these private individuals who own the Fed and its branch banks.

“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. The new law will create inflation whenever the trusts want inflation. From now on depression will be scientifically created.”

(Charles A. Lindbergh, Sr. at the time of the passage of the Federal Reserve Act in 1913)

The Federal Reserve System Was Planned in Secrecy

“Despite my views about the value to society of greater publicity for the affairs of corporations, there was an occasion, near the close of 1910, when I was as secretive, indeed, as furtive, as any conspirator ... our secret expedition to Jekyl Island [Georgia] as the occasion of the actual conception of what eventually became the Federal Reserve System.”

(Frank Vanderlip, Saturday Evening Post, February 9, 1935, p. 25)

Colonel Edward Mandell House, Foreign Affairs Advisor to President Woodrow Wilson, chief architect of the Council on Foreign Relations, and author of the book Phillip Dru, Administrator: A Story of Tomorrow, advocated “socialism as dreamed by Karl Marx,” is also characterized as “the unseen guardian angel of the Federal Reserve Act,” according to House’s biographer, Charles Seymour in The Intimate Papers of Colonel House.

As a matter of fact, on November 23, 1933, FDR, in a letter to Col. House stated: “The real truth of the matter is, and you and I know, that a financial element in large centers has owned the government of the U.S. since the days of Andrew Jackson [which history depicts as the last truly honorable and incorruptible American President].”

The Federal Reserve Is Independent in Its Operations

“Neither Presidents, Congressmen, nor Secretaries of the Treasury direct the Federal Reserve. In the matters of money, the Federal Reserve directs them.” Gary Allen, None Dare Call It Conspiracy

“In the United States we have, in effect, TWO GOVERNMENTS ... We have the duly constituted Government ... Then we have an INDEPENDENT, UNCONTROLLED AND UNCOORDINATED GOVERNMENT IN THE FEDERAL RESERVE SYSTEM, operating the money powers WHICH ARE RESERVED to Congress by the Constitution.” Congressman Wright Patman

The Federal Reserve Is a Government Granted Private Monopoly

“By law, the seven members of the Federal Reserve Board are appointed by the President for a term of fourteen years each. In spite of the incredible length of these appointments, nevertheless, they are supposed to create the illusion that the people, acting through their elected leaders, have some voice in the nation’s monetary policies. In practice, however, EVERY President since the beginning of the Federal Reserve System has appointed those men who were congenial to the financial interests of the international banking dynasties. There have been no exceptions.”

G. Edward Griffin, The Capitalist Conspiracy, p. 17

“It is well enough that 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, founder of the Ford Motor Company, commenting on the “Federal” Reserve scam.

The Federal Reserve Has Never Been Audited

“In its 60-year history [today - 92 years], the Federal Reserve System has never been subjected to a complete, independent audit, and it is the ONLY important agency that refuses to consent to an audit by the Congress’ agency, the General Accounting Office ... GAO audits of the Federal Reserve will, moreover, fill the glaring gap that now exists in our information about the Fed’s activities and programs. As things now stand, the only information that we get on programs of the Fed is what the Fed itself wants us to have.” Congressman Wright Patman, Congressional Record, May 5, 1975

Ask yourself: How can an alleged agency of the federal government of the United States operate for 92 years WITHOUT ever being audited? Simple! Since the Fed is privately owned, our Congress does not have the power to enforce an audit.

What the Fed Says About Itself

Some of the most informative materials available on the topics of money, inflation, interest, banks and banking, are issued by the twelve Federal Reserve District Banks. Most materials are available free of charge. Many larger metropolitan cities have a local Fed Branch Bank, such as Dallas, Texas. You are encouraged to walk in and ask to speak to the Public Relations Manager. His job is to answer your questions and furnish you with any materials you may desire, relevant to banks and banking, interest [usury], inflation, money and currency. If you take the time to research, you will be utterly amazed at what you discover!

Pre-Federal Reserve History

Prior to the “Federal Reserve Act of 1913,” the United States Government coined, and issued our currency debt free. The ONLY lawful and Constitutional form of money were gold and silver. The Free Coinage Act of 1792 established a standard weight, purity, and denomination for the nation’s money.

The authority for Congress was set forth in Article 1, Sec. 8 and Sec. 10 which state:

Precious metals such as gold and silver have been the most highly prized means of monetary exchange for many centuries. They are “honest money.” By mining the earth, one exchanges their God-given talents and resources for wealth. That wealth can then in turn be exchanged for the goods and services honestly produced by another individual’s talents and resources. The Free Coinage Act of 1792 dramatically simplified the process of issuing a standard coin into circulation. At no cost, the individual could take his silver or gold dust, shavings, or bullion, to the mint, and have it melted down and pressed into coin. Now it was guaranteed to be a standard weight and purity.

What Is Money?

Ever wonder just what money is? Let us look at some common definitions:

USC Title 12 Sec. 152:

“Lawful money of the United States shall be construed to mean gold and silver coin ...”

Black’s Law Dictionary:

“Coins and paper currency used as circulating medium of exchange, and DOES NOT embrace notes, bonds, evidence of debt ...”

What we readily see from these definitions is that paper CANNOT be money. What we carry in our pockets - Federal Reserve Notes are disqualified as money, because they are notes. A note is an IOU - an evidence of debt. It is NOT money! Why then do we call it money? Have we been tricked?

The Free Coinage Act specified money to be gold or silver coin, and the denomination to be based upon a weight - a dollar, and all coins were to be at least 90% pure. The dollar is specified as:

Gold - 25.8 grains

Silver - 412.5 grains

Between revenues generated from loaning to private banks at a set interest rate and revenues generated from excise taxes, military sales, etc., the government of our nation does not need to charge one penny in personal federal income tax. The personal income tax is Socialistic in design and goes against everything the founding fathers of this nation believed in and created the Constitution for - to allow us taxation WITH representation and to NEVER allow private or foreign interests to control our money system.

Recall the words of Thomas Jefferson:

“Single acts of tyranny may be ascribed to the accidental opinion of a day. But a series of oppressions, begun at a distinguished period, and pursued unalterably through every change of ministers (administration), too plainly PROVES a deliberate systematic plan of reducing us to slavery.”

Is this not exactly the PLAN implemented with the so-called “Federal Reserve Act of 1913,” and the creation of the income tax? Both the Central Bank and the graduated income tax are planks of the Communist Manifesto!!! Are we being Socialized/Communized?

Abraham Lincoln stated:

“The privilege of creating and issuing money is not the supreme prerogative of Government, but is the Government’s greatest creative opportunity. By the adoption of these principles, the taxpayers will be saved immense sums of interest.”

Why was a personal, progressive income tax placed upon We the People in 1913 - the same year the Fed came into being? How else could the kingpins of the Fed finance all this usury charged against bogus currency? Simple. Start taxing the people and calling this illegal scam a national debt.

Contrary to IRS opinion and the propaganda by the Insiders, the 16th Amendment to the U.S. Constitution was never ratified. Bill Benson and Red Beckman went to 48 states’ legislatures and found something very shocking - only 4 states voted for the 16th Amendment! Their exhaustively researched document, The Law That Never Was, Vols. 1 & 2, demonstrates beyond a shadow of a doubt that the 16th Amendment was never properly ratified as a Constitutional Amendment. It was simply declared to be “in effect” by President Taft’s Secretary of State.

It is unconstitutional for the U.S. Government to directly tax wages and earnings.Even if it was valid, the 16th Amendment does not change the Constitution, for it is an excise tax on income derived from revenue taxable activities, interest, gains, and profits.

“Title 26 of U.S. Code is referred to as the Internal Revenue Code. Even though Americans believe they are law in the 50 states of the Union, they are not.

“Deceptive statements by IRS spokesmen and other propagandists have created great confusion as to whether these limitations on direct taxes are still in effect. Some incorrectly claim that the 16th Amendment [the income tax amendment] changed the constitutional limitations on direct taxes and authorized an income tax as a direct tax without apportionment. The U.S. Supreme Court rejected these claims in the case of Brushaber v. Union Pacific R.R. Co., 240 US 1, when they ruled that the 16th Amendment created no new power of taxation and that it did not change the constitutional limitations which forbid any direct taxation of individuals.”

NCBA Bulletin, May 1988

The Federal Tax Lien Act of 1966, P.O. 89-719 legislative history, Pg. 3722 states: “The entire taxing and monetary systems are hereby placed under the Uniform Commercial Code.”

On page 3 of your 1992 Forms and 1040 Instructions book issued by the Internal Revenue Service, the Commissioner of the IRS states, paragraph 2, sentence 1:

“The Congress shall have Power To Coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard Weights and Measures.”

“No state shall ... coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts.”

 
http://www.newswatchmagazine.org/dec08/index2.shtml

[lord edward coke]

History That Must Be Told!
Part 19
By David J. Smith
History is a fascinating subject, especially when you apply Bible prophecy to it. Famous passages, such as Daniel 2 and 7, Revelation 13, and Matthew 24, are literally jumping off the TV screen and newspapers into our face. The whole focus of the Bible is the “GOOD NEWS” of the coming Kingdom of God to save mankind from utter annihilation. The “BAD NEWS” is the coming kingdom of Satan deceiving the world into believing he is God. What a tragedy!!!

Let’s continue learning HOW Satan is destroying the greatest nation that has ever existed, to merge it into his worldwide kingdom!

Socialism via Legislation
Centralization of power in Washington has always been a prime Communist/Socialist/Illuminati objective. If the Socialist/Communists can destroy the States [States Rights] as effective units of government and centralize all power in Washington, they have only one battle to win.

Let’s examine the Tenth Amendment to the United States Constitution. It states that “the powers not delegated to the United States by the Constitution - are reserved to the States respectively or to the people.” No where in the Constitution does it give the Federal Government any power or control over education, health, welfare, labor, dams and public power projects, agriculture, unemployment or housing. According to the Constitution, the regulation of all these areas are to remain within the jurisdiction of the States or the people. Remember the prediction of BOTH Socialists and Communists - that they would pass legislation to Socialize America without us knowing how it happened?

You can now KNOW why it does not matter which party controls the House and Senate or who is elected President of the United States! When Federal funds are used to support education, health, welfare, labor, dams, public power projects, agriculture, unemployment and housing, etc., the Federal government uses control over these areas to varying degrees. Notice why the Liberals/Socialists/ Communists want the Federal government to subsidize every area of government; the U.S. Supreme Court, in the case of Wickard vs. Filburn, 1942, included the following statement as part of its decision: “It is hardly a lack of due process for Government to regulate that which it subsidizes.”

With each new Federal law passed by Congress which INVADES the rights of the individual States, it further strengthens the control the government exercises over citizens. An example of the individual States is that the Kennedy Administration proposed the establishment of a new Department of Urban Affairs, whose director served as an additional member of the President’s Cabinet. Thus the Federal government would by-pass the States, and deal directly with the cities - a pattern completely contrary to all precepts of the United States Constitution.

Program of the Fabian Socialists
Look what appeared in the Congressional Record, uncovered by W. Cleon Skousen for the FBI while serving as an assistant to J. Edgar Hoover. It was the planned COMPLETE destruction of the United States as we know it, to merge us into a “Novus Ordo Seclorum” - One-World-Government - New World Order!

1.) Convince the U.S. to accept coexistence as the only alternative to atomic war. This would give them free movement to spread International Communism.

2.) Convince the U.S. to capitulate [give in] in preference to engaging in an atomic war.

3.) Develop the ILLUSION that total disarmament by the U.S. would be a demonstration of moral strength.

4.) Permit free trade [what about the NAFTA Treaty with Mexico and Canada] between ALL nations regardless of whether items could be used for war.

5.) Extend long-term loans to Russia and Soviet satellites. They would never pay them back because they plan to “bury us.”

6.) Provide U.S. “foreign aid” to ALL nations, thus draining the wealth of our nation and causing steady long-term inflation to “debauch our currency.”

7.) Grant recognition of Red China with admission to the United Nations, thus, expelling Nationalist China from the organization. President Richard Nixon accomplished this for his bosses of the Illuminati.

8.) Set up East and West Germany as separate states. When near completion of their plan for world government, they would reunify Germany as an “electrifying” overture of peace, so America would disarm.

9.) Prolong the conferences to ban atomic tests because the U.S. had agreed to suspend testing as long as the negotiations were in progress.

10.) Allow ALL Soviet satellites representation in the United Nations. They would have an equal vote as the United States.

11.) Promote the United Nations as the only hope for mankind. If its charter is rewritten, DEMAND that it be set up as a one-world-government with its own independent armed forces (See Revelation 13: 4).

12.) Resist any attempt to outlaw the Communist Party within the U.S.

13.) Do away with all loyalty oaths.

14.) Continue to give Russia access to the U.S. Patent Office.

15.) Capture one or BOTH political parties in the U.S. (Now you can understand why no matter which party is in office, they continue toward Socialism.)

16.) Use technical decisions of the courts to WEAKEN basic American institutions by claiming their activities violate civil rights. (Civil rights is a MAJOR cover to advance their cause of capturing America.)

17.) Get control of the school systems. Use them for Socialism and current Communist propaganda. Get control of teacher’s associations. (You can now see why the Federal Government is so against church related schools or home schooling. They can’t change your child’s mind to accept GLOBALISM - THE NEW WORLD ORDER!)

18,) Gain control of all student newspapers. (Example: Hillary Rodham, later Clinton, was editor of Yale’s Law Journal in which she promoted police as “pigs.”)

19.) Use student riots to foment public protests against programs and organizations which are under current Communist attack.

20.) Infiltrate the press, including TV. (The nightly anchors for ALL the major TV networks are members of the subversive Council on Foreign Relations.)

21.) Gain control of KEY positions in radio, TV, and motion pictures. (They have succeeded completely.)

22.) Continue discrediting American Christian culture by degrading all forms of artistic expression - nude movies, books, perverted art, etc.

23.) Control art critics and directors of museums. “Our PLAN is to promote ugliness, repulsive, meaningless art.”

24.) Eliminate all laws governing obscenity by calling them “censorship” and a violation of free speech and free press. (This project is completely accomplished with the attending moral decay that precedes the collapse of a nation.)

25.) Break down cultural standards of morality by promoting pornography in books, magazines, motion pictures, and TV.

26.) Present HOMOSEXUALITY, degeneracy, and promiscuity as “normal, natural and healthy.”

27.) Infiltrate the churches and REPLACE REVEALED RELIGION WITH “SOCIAL” RELIGION. DISCREDIT THE BIBLE and emphasize the need for “intellectual maturity” which does not need a “religious crutch.” (The World and National Council of Churches are their “front” organizations for a One-World-Religion.)

28.) Eliminate prayer or any phase of religious expression in the schools. (Communism has stated that if they have two generations of our schools without God in them they will take our nation. It has been 46 years.)

29.) Discredit the American Constitution by calling it inadequate - “out of step.”

30.) Discredit the American founding fathers. Present them as selfish aristocrats, who had no concern for the “common man.”

31.) Belittle all forms of American [Christian] culture and discourage the teaching of American history.

32.) Support all Socialist movements to give centralized control over any part of the culture - education, social agencies such as housing authority, welfare programs, mental health clinics, etc.

33.) Eliminate ALL laws or procedures which interfere with the operation of the Communist apparatus.

34.) Discredit and eventually dismantle the FBI.

35.) Eliminate the House Committee on Un-American Activities.

36.) Infiltrate and gain control of more labor unions. Create crippling strikes of major manufacturers or the service industry.

37.) Infiltrate and gain control of big business. Create a monopoly in the market place with them in control.

38.) Transfer some of the powers of arrest from the police to social agencies. Treat ALL behavior problems as psychiatric disorders.

39.) Dominate the psychiatric profession and use mental health laws as a means of gaining coercive control over those who oppose Communist goals.

40.) Discredit the family as an institution. Encourage promiscuity and easy divorce.

41.) Emphasize the need to raise children away from the negative influence of parents. Attribute prejudices and mental blocks to suppressive influence of parents.

42.) Create the impression that violence and insurrection are legitimate aspects of the American tradition; that students and special interest groups should rise up and use “united force” to solve problems.

43.) Overthrow all colonial governments BEFORE native populations are ready for self-government. [Have we witnessed nation after nation in Africa overthrown for Communism as well as the Orient and Central and South America?]

44.) Internationalize the Panama Canal.

45.) Repeal the Connally Reservation to the Genocide Convention Treaty to the United Nations, so the U.S. cannot prevent the World Court from SEIZING jurisdiction over domestic (internal U.S.) problems. This would give the World Court jurisdiction over nations and individuals alike. (This was accomplished on February 19, 1986, with the passage of the Genocide Convention Treaty with the United Nations under the Ronald Reagan Administration.)

By examining the extensive list of objectives, one should be able to readily acknowledge that the Illuminati’s plan is nearly COMPLETE! Many high in government have acknowledged the same and spoken out against the conspiracy.

Going Back to 1914-1918
The Illuminati, worshippers of Lucifer/Satan, tried to establish a world government through the League of Nations immediately after World War I. The whole idea was torpedoed by Henry Cabot Lodge in a speech, part of which is reproduced as follows:

“Mr. President (Woodrow Wilson):

“The independence of the United States in not only more precious to ourselves but to the world than any single possession. Look at the United States today. We have made mistakes in the past. We have had shortcomings. We shall make mistakes in the future and fall short of our own best hopes. But none the less, is there any country today on the face of the earth which can compare with this in ordered liberty, in peace, and in the largest freedom?

“I feel that I can say this without being accused of undue boastfulness, for it is a simple fact, and in making this and taking on these obligations, all that we do is in a spirit of unselfishness and in a desire for the good of mankind. But it is well TO REMEMBER that we are dealing with nations, every one of which, has a direct individual interest to serve, and there is a GRAVE DANGER IN AN UNSHARED IDEALISM.

“Contrast the United States with any on the face of the earth today and ask yourself whether the situation of the United States is not the BEST to be found. I will go as far as anyone in world service, but the first step to world service is the maintenance of the United States.

“I have always loved ONE flag, and I cannot share that devotion [with] a mongrel banner created for a League.

“You may call me selfish if you will, conservative or reactionary, or use any other harsh adjective you see fit to apply, but an American I was born, an American I have remained all my life. I can never be anything else but an American, and I must think of the United States FIRST, and when I think of the United States first in an arrangement like this I am thinking of what is BEST for the world, for IF THE UNITED STATES FAILS, THE BEST HOPES OF MANKIND FAIL WITH IT.

“I have NEVER had but one allegiance - I cannot divide it now. I have loved but one flag, and I cannot share that devotion and give affection to the mongrel

banner invented for a league. In-

ternationalism, illustrated by the Bolshevik and by the men to whom all countries are alike provided they can make money out of them, is to me repulsive.

“National I must remain, and in that way, I like all other Americans, can render the amplest service to the world. The United States is the world’s BEST HOPE, but if we fetter her in the interests and quarrels of other nations, if you tangle her in the intrigues of Europe, you will destroy her power for good and endanger her very existence.

“Leave her to march freely through the centuries to come as in the years that have gone.

“Strong, generous, and confident, she has nobly served mankind. Beware how you trifle with your marvelous inheritance, this great land of ordered liberty; for if we stumble and fall, freedom and civilization everywhere will go down in ruin.

“We are told that we shall ‘break the heart of the world’ if we do not take this league just as it stands. ... No doubt many excellent and patriotic people see a coming fulfillment of noble ideals in the words ‘league for peace.’ We all respect and share these aspirations and desires, but some of us see NO HOPE, but rather defeat, for them in this murky covenant. For we, too, have our ideals, even if we differ from those [the Illuminati] who have tried to establish a monopoly of idealism.

“Our first ideal is our country, and we see her in the future, as in the past, giving service to all her people and to the world. Our ideal of the future is that she should continue to render that service of her own free will. ...

“We would not have our politics distracted and embittered by the dissensions of other lands. We would not have our country’s vigour exhausted or her moral force abated, by everlasting meddling and muddling in every quarrel, great and small, which afflicts the world.

“Our ideal is to make her ever stronger and better and finer, because in that way alone, as we believe, can she be of the greatest service to the world’s peace and to the welfare of mankind” (“Henry Cabot Lodge’s Speech That Derailed the League of Nations,” The Ellis County Press, Thursday, August 21, 2008, p. 2).

Henry Cabot Lodge stood up for America against the creation of the League of Nations as a world government. Everything he said would happen has come to pass since the creation of the United Nations. To further destroy America and redistribute our wealth to other nations, something even more sinister was planned.

International Monetary Fund
New international financial institutions, like the International Monetary Fund (IMF), the World Bank, and the Bank of International Settlements were created to extend economic authority throughout the planet. The U.S. became entangled with other nations as we were warned not to do by Henry Cabot Lodge and George Washington at the founding of this nation. Our senate was duped by the sinister forces of evil that infiltrated our government. They have had total control of our government ever since. The outrageous national membership fees of the IMF runs into billions of dollars per year per nation. When nations have problems repaying loans, strict austerity programs are imposed which cause considerable hardship on the poorer citizens of that nation.

In 1986, for example, Brazil stripped her rain forests, mined her gold, forced low-cost labor onto her people and had a $10 billion trade surplus. This was the year that the U.S. suffered a $50 billion trade deficit. The interest payments on Brazil’s foreign loans also amounted to $10 billion. So, it was all for nothing! Except the banker’s interest!!!

When Brazil decided to default on the payments, her credit rating dropped to zero. Without short-term credit, Brazil was unable to conduct normal international business transactions and lost even more in trade than the interest payments had amounted to.

Within six months, Brazil had reconsidered her position and started negotiations with the bankers. A lesser rate of interest was finally agreed upon. But, Brazil was persuaded to borrow $13 billion more! The lenders don’t really want the debt paid back. The debt gives them leverage, and the debt servicing (interest payments) gives them the “cash flow.”

Often, “austerity measures” are imposed on nations that have a difficult time repaying their loans. Social programs like health, education, or basic food subsidies for the people of the nation are reduced drastically. An epidemic of cholera in Latin America was directly related to these “austerity programs,” and the reduction of health and sanitary programs carried out by the government.

Central Bankers can issue paper currency, most of the time with little or no actual backing of gold or silver, and they lend it AT INTEREST. This is exactly the debt system the Federal Reserve of private stock-holding bankers have hoisted upon America. Look around, nearly everyone is in debt because of this illegal, unconstitutional money system!!! ONLY CONGRESS WAS TO COIN MONEY AND SET THE VALUE - so says your Constitution!!! Bankers were never to be involved in the money system, but they have usurped Congresses’ authority. If they or their agents can persuade nations to borrow sufficient amounts, they can end up owning the wealth of nations!!! THIS IS WHERE THE WORLD STANDS TODAY - largely owned by the international bankers!!!

To solve the problem, Congress could “nationalize” the Federal Reserve System and DO THE JOB THE CONSTITUTION GAVE THEM!!! Presently, the IMF is seeking ways to increase its control of the U.S. economy. Committee of 300 member and avid Zionist suporter, Harold Lever proposed what came to be known as the “Ditchley Plan,” named after the Foundation with the same name.

The Ditchley Plan would usurp the monetary and fiscal policies of the United States and place them firmly under the control of the IMF. This Plan would allow the IMF to gain control of all the central banks of the various nations of the world and place them under one world bank!!!

On October 26-27, 1982, a secret meeting was attended by representatives of 36 of the top world banks at New York’s Vista Hotel. At this meeting, Harold Lever was quoted as saying: “The United States will soon have to realize that it will be no better than any THIRD WORLD COUNTRY when the IMF takes control.”

Is there any doubt that the U.S. has lost millions of manufacturing jobs? Are we “outsourcing” our work? Is this leaving millions of Americans without jobs? Are we becoming a third world country? There can be little doubt that foreign debt is the way the international bankers drain wealth from nations, or that the IMF is the GREATEST LEGALIZED RACKET ON THE PLANET!!!

One economist has done his homework. His name is Jim Powell. He produces an economic newsletter in which the June/July 2008 edition had some interesting insight. Powell wrote:

“I came to the conclusion that none of the recent financial crises are responsible for the economic unraveling. Although all of them took a toll, the real problem is a long-standing flaw in the way the U.S. has been trying to maintain its legendary prosperity.

“The problem is that over the past 20 years America greatly reduced its ability to create real wealth. That work was largely exported to other countries. In its place, financial moguls created PAPER empires of imaginary assets. For its part, the Fed (illegal central bank) made sure the new economic system got all the imaginary money it needed. America’s trading partners put up additional billions of dollars.

“The new prosperity machine worked like a charm even though nobody understood it very well. Abundance was created out of thin air. ... Fat salaries and bonuses flowed to the high priest who ran the show. Best of all, nobody needed to get their hands dirty.

“Joe and Sally MidAmerica even got in on the act. They weren’t making much additional money at their jobs, but their house prices were soaring. People could sign a piece of paper and drive home a four-wheel drive dreadnaught, or even two of them. Joe and Sally took vacations to exotic places with names they couldn’t spell. Everybody was living large.

“Then the paper bubbles started to pop, and the make-believe system began to fall apart. That process is still going on, and it won’t be complete until all the fantasy wealth is gone. It’s no wonder that the standard of living for millions of Americans is dropping significantly. Our country is starting an ugly period of downsizing (The one-worlder’s have wanted to destroy the Middle Class in America to make us a 3rd or 4th world country).

“When I returned to my search for the root cause of today’s economic problems, I decided to remove the influence of the federal government. That eliminated fiat (paper) money, ruinous spending, colossal government debts, political meddling, and layers of useless regulations. With those factors out of the equation, today’s economic problems DISAPPEARED. A free market economic system will not support them (these socialistic programs).

If we think that solving or emerging from the crisis means going back to the configuration of growth before the crisis, we would be making a mistake because we were on an unsustainable path.

Tommaso Oadoa-Schioppa, International Monetary Fund

Quoted from the Financial Times, April 14, 2008, article “Subprime Just One of Many Problems,” by Chris Giles.

Control of Information
Prior to the French Revolution, the Illuminati disseminated their propaganda through Reading Clubs, in order to mould public opinion in a favorable disposition towards their goals.

During the nineteenth century after the House of Rothschilds controlled the Bank of England, they purchased a controlling interest in the Khazar Jewish Reuters Newspaper in London. Also, controlling interests were purchased in Wolff and the French Havas newspapers, creating a virtual international news monoply.

In 1942, the general manager of Associated Press, Kent Cooper, spoke of this international news monopoly in his book Barriers Down: “... the news of the world was its own private property to be withheld, to be discolored to its own purposes, or to be sold to whom and to where they directed.”

The Council on Foreign Relations (CFR) was created in 1921 as the American branch of the British Royal Institute for International Affairs. The Royal Institute was the brainchild of Cecil Rhodes as a means to expand British authority globally and to regain Britain’s control of the United States. The Council on Foreign Relations was responsible for the creation of the United Nations and presently directs all U.S. foreign policy. Communist members are welcome in the CFR, as traitor Alger Hiss!

The world news sources and wire services have members of the CFR directing and working for them. These include Reuters, Associated Press, United Press International, Wall Street Journal, Boston Globe, New York Times, Los Angeles Times, Washington Post, ABC, NBC, CBS, and RCA. Most national and international news is derived from these sources.

The Council on Foreign Relations, which is linked to the Royal Institute for International Affairs and the Committee of 300, is also heavily entrenched in the major energy companies, the military, and the U.S. government. With the CFR managing the news and molding public opinion about world affairs, they are in a key position to influence the direction of our government.

The Illuminati’s Order of Skull & Bones forms an inner circle of the CFR and has control of other forms of public information. Henry Luce of the “Time-Life” syndicate, William Buckley of “National Review,” Alfred Cowles of the “Minneapolis Star, “ Emmert Bates of “Litton Educational Systems,” Russell Davenport of “Fortune,” and Nieman Fellowship’s first director, Archibald McLeash, are all members of the Order of Skull & Bones! (Antony Sutton, America’s Secret Establishment, Liberty House Press).

 
http://www.newswatchmagazine.org/jan09/index2.shtml

[JBS_Banned!]

Hey Obama, EAT THIS!

[larsonstdoc]

  Hats off to the Republican Congress that all voted against Obama's Stimulus Bill.  178 against the bill.  I think that is silent criticism.

[Blowback]

f**k barak obama.

[Monkeypox]

f**k barak obama.

Fvck 'em ALL.

[Revolt426]

Teddy Roosevelt was the biggest British Asset ever to reside in the Office of the US Presidency.

He was a mole put into McKinnely's campaign as VP in the late 1890's. McKinnely's plan was to mimic the hamiltonian protectionist tariff policies of Abe Lincoln and build a new Railway through South America to enhance trade / travel. He was assassinated his first year in office , then Theodore Roosevelt took over and turned the Policy into an Al Gore type Environmentalist Fascist Pro German Policy paving the road for WW1. He de-industrialized the US and his cousin was a British Operative.

[chris jones]

Hi guys.

Ed, the whole gang, I'm impressed, great finds, and comments, I can add nothing, you've said it all.

[Revolt426]

I noticed that date 1944, as for the CFR planning this thing.. Well guess what. That is because in 1944 FDR fought off the London bankers, header by Lord John Mayard Keynes, whom callled for a 1 world currency, and replaced it with the Gold Backed , Fixed Exchange Rate, Bretton woods system. This system was DEATH to the British Empire because their system is based on raping and pillaging countries via free trade and currency speculation.

[lord edward coke]

I noticed that date 1944, as for the CFR planning this thing.. Well guess what. That is because in 1944 FDR fought off the London bankers, header by Lord John Mayard Keynes, whom callled for a 1 world currency, and replaced it with the Gold Backed , Fixed Exchange Rate, Bretton woods system. This system was DEATH to the British Empire because their system is based on raping and pillaging countries via free trade and currency speculation.

In 1932, the American people elected Franklin D. Roosevelt President of the United States. This was hailed as the freeing of the American people from the evil influence which had brought on the Great Depression, the ending of Wall Street domination, and the disappearance of the banker from Washington.

Roosevelt owed his political career to a fortuitous circumstance. As Assistant Secretary of the Navy during World War I, because of old school ties, he had intervened to prevent prosecution of a large ring of homosexuals in the Navy which included several Groton and Harvard chums. This brought him to the favorable appreciation of a wealthy international homosexual set which travelled back and forth between New York and Paris, and which was presided over by Bessie Marbury, of a very old and prominent New York family. Bessie's "wife", who lived with her for a number of years, was Elsie de Wolfe, later Lady Mendl in a "mariage de convenance", the arbiter of the international set. They recruited J.P. Morgan's youngest daughter, Anne Morgan, into their circle, and used her fortune to restore the Villa Trianon in Paris, which became their headquarters. During World War I, it was used as a hospital. Bessie Marbury expected to be awarded the Legion of Honor by the French Government as a reward, but J.P. Morgan, Jr., who despised her for corrupting his youngest sister, requested the French Government to withhold the award, which they did. Smarting from this rebuff, Bessie Marbury threw herself into politics, and became a power in the Democratic National Party. She had also recruited Eleanor Roosevelt into her circle, and, during a visit to Hyde Park, Eleanor confided that she was desperate to find something for "poor Franklin" to do, as he was confined to a wheelchair, and was very depressed.

"I know what we'll do," exclaimed Bessie, "We'll run him for Governor of New York!" Because of her power, she succeeded in this goal, and Roosevelt later became President.

One of the men Roosevelt brought down from New York with him as a Special Advisor to the Treasury was Earl Bailie of J & W Seligman Company, who had become notorious as the man who handed the $415,000 bribe to Juan Leguia, son of the President of Peru, in order to get the President to accept a loan from J & W Seligman Company. There was a great deal of criticism of this appointment, and Mr. Roosevelt, in keeping with his new role as defender of the people, sent Earl Bailie back to bringing in New York.

Franklin D. Roosevelt himself was an international banker of ill repute, having floated large issues of foreign bonds in this country in the 1920s. These bonds defaulted, and our citizens lost millions of dollars, but they still wanted Mr. Roosevelt as President. The New York Directory of Directors lists Mr. Roosevelt as President and Director of United European Investors, Ltd., in 1923 and 1924, which floated many millions of German marks in this country, all of which defaulted. Poor's Directory of Directors lists him as a director of The International Germanic Trust Company in 1928. Franklin D. Roosevelt was also an advisor to the Federal International Banking Corporation, an Anglo-American outfit dealing in foreign securities in the United States.

Roosevelt's law firm of Roosevelt and O'Connor during the 1920s represented many international corporations. His law partner, Basil O'Connor, was a director in the following corporations:

Cuban-American Manganese Corporation, Venezuela-Mexican Oil Corporation, West Indies Sugar Corporation, American Reserve Insurance Corporation, Warm Springs Foundation. He was director in other corporations, and later head of the American Red Cross.

When Franklin D. Roosevelt took office as President of the United States, he appointed as Director of the Budget James Paul Warburg, son of Paul Warburg, and Vice President of the International Acceptance Bank and other corporations. Roosevelt appointed as Secretary of the Treasury W.H. Woodin, one of the biggest industrialists in the country, Director of the American Car Foundry Company and numerous other locomotive works, Remington Arms, The Cuba Company, Consolidated Cuba Railroads, and other big corporations. Woodin was later replaced by Henry Morgenthau, Jr., son of the Harlem real estate operator who had helped put Woodrow Wilson in the White House. With such a crew as this, Roosevelt's promises of radical social changes showed little likelihood of fulfillment. One of the first things he did was to declare a bankers' moratorium, to help the bankers get their records in order.

World's Work says:

"Congress has left Charles G. Dawes and Eugene Meyer, Jr. free to appraise, by their own methods, the security which prospective borrowers of the two billion dollar capital may offer."

Roosevelt also set up the Securities Exchange Commission, to see to it that no new faces got into the Wall Street gang, which caused the following colloquy in Congress:

REPRESENTATIVE WOLCOTT: At hearings before this committee in 1933, the economists showed us charts which proved beyond all doubt that the dollar value commodities followed the price level of gold. It did not, did it?

LEON HENDERSON: No.

REPRESENTATIVE GIFFORD: Wasn't Joe Kennedy put in [as Chairman of the Securities Exchange Committee] by President Roosevelt because he was sympathetic with big business?

LEON HENDERSON: I think so.

Paul Einzig pointed out in 1935 that:

"President Roosevelt was the first to declare himself openly in favor of a monetary policy aiming at a deliberately engineered rise in prices. In a negative sense his policy was successful. Between 1933 and 1935 he succeeded in reducing private indebtedness, but this was done at the cost of increasing public indebtedness."

In other words, he eased the burden of debts off of the rich onto the poor, since the rich are few and the poor many.

Senator Robert L. Owen, testifying before the House Committee on Banking and Currency in 1938, said:

"I wrote into the bill which was introduced by me in the Senate on June 26, 1913, a provision that the powers of the System should be employed to promote a stable price level, which meant a dollar of stable purchasing, debt-paying power. It was stricken out. The powerful money interests got control of the Federal Reserve Board through Mr. Paul Warburg, Mr. Albert Strauss, and Mr. Adolph C. Miller and they were able to have that secret meeting of May 18, 1920, and bring about a contraction of credit so violent it threw five million people out of employment. In 1920 that Reserve Board deliberately caused the Panic of 1921. The same people, unrestrained in the stock market, expanding credit to a great excess between 1926 and 1929, raised the price of stocks to a fantastic point where they could not possibly earn dividends, and when the people realized this, they tried to get out, resulting in the Crash of October 24, 1929."

Senator Owen did not go into the question of whether the Federal Reserve Board could be held responsible to the public. Actually, they cannot. They are public officials who are appointed by the President, but their salaries are paid by the private stockholders of the Federal Reserve Banks.

Governor W.P.G. Harding of the Federal Reserve Board testified in 1921 that:

"The Federal Reserve Bank is an institution owned by the stockholding member banks. The Government has not a dollar's worth of stock in it."

However, the Government does give the Federal Reserve System the use of its billions of dollars of credit, and this gives the Federal Reserve its characteristic of a central bank, the power to issue currency on the Government's credit. We do not have Federal Government notes or gold certificates as currency. We have Federal Reserve Bank notes, issued by the Federal Reserve Banks, and every dollar they print is a dollar in their pocket.

W. Randolph Burgess, of the Federal Reserve Bank of New York, stated before the Academy of Political Science in 1930 that:

"In its major principles of operation the Federal Reserve System is no different from other banks of issue, such as the Bank of England, the Bank of France, or the Reichsbank."

All of these central banks have the power of issuing currency in their respective countries. Thus, the people do not own their own money in Europe, nor do they own it here. It is privately printed for private profit. The people have no sovereignty over their money, and it has developed that they have no sovereignty over other major political issues such as foreign policy.

As a central bank of issue, the Federal Reserve System has behind it all the enormous wealth of the American people. When it began operations in 1913, it created a serious threat to the central banks of the impoverished countries of Europe. Because it represented this great wealth, it attracted far more gold than was desirable in the 1920s, and it was apparent that soon all of the world's gold would be piled up in this country. This would make the gold standard a joke in Europe, because they would have no gold over there to back their issue of money and credit. It was the Federal Reserve's avowed aim in 1927, after the secret meeting with the heads of the foreign central banks, to get large quantities of that gold sent back to Europe, and its methods of doing so, the low interest rate and heavy purchases of Government securities, which created vast sums of new money, intensified the stock market speculation and made the stock market crash and resultant depression a national disaster.

Since the Federal Reserve System was guilty of causing this disaster, we might suppose that they would have tried to alleviate it. However, through the dark years of 1931 and 1932, the Governors of the Federal Reserve Board saw the plight of the American people worsening and did nothing to help them. This was more criminal than the original plotting of the Depression. Anyone who lived through those years in this country remembers the widespread unemployment, the misery, and the hunger of our people. At any time during those years the Federal Reserve Board could have acted to relieve this situation.

The problem was to get some money back into circulation. So much of the money normally used to pay rent and food bills had been sucked into Wall Street that there was no money to carry on the business of living. In many areas, people printed their own money on wood and paper for use in their communities, and this money was good, since it represented obligations to each other which people fulfilled.

The Federal Reserve System was a central bank of issue. It had the power to, and did, when it suited its owners, issue millions of dollars of money. Why did it not do so in 1931 and 1932? The Wall Street bankers were through with Mr. Herbert Hoover, and they wanted Franklin D. Roosevelt to come in on a wave of glory as the saviour of the nation. Therefore, the American people had to starve and suffer until March of 1933, when the White Knight came riding in with his crew of Wall Street bribers and put some money into circulation. That was all there was to it. As soon as Mr. Roosevelt took office, the Federal Reserve began to buy Government securities at the rate of ten million dollars a week for ten weeks, and created a hundred million dollars in new money, which alleviated the critical famine of money and credit, and the factories started hiring people again.

During the Roosevelt Administration, The Federal Reserve Board, insofar as the public was concerned, was Marriner Eccles, an emulator and admirer of "the Chief". Eccles was a Utah banker, President of the First Securities Corporation, a family investment trust consisting of a number of banks which Eccles had picked up cheap during the Agricultural Depression of 1920-21. Eccles also was a director of such corporations as Pet Milk Company, Mountain States Implement Company, and Amalgamated Sugar. As a big banker, Eccles fitted in well with the group of powerful men who were operating Roosevelt.

There was some discussion in Congress as to whether Eccles ought to be on the Federal Reserve Board at the same time he had all of these banks in Utah, but he testified that he had very little to do with the First Securities Corporation besides being President of it, and so he was confirmed as Chairman of the Board.

Eugene Meyer, Jr. now resigned from the Board to spend more of his time lending the two billion dollar capital of the Reconstruction Finance Corporation, and determining the value of collateral by his own methods.

The Banking Act of 1935, which greatly increased Roosevelt's power over the nation's finances, was an integral part of the legislation by which he proposed to extend his reign in the United States. It was not opposed by the people as was the National Recovery Act, because it was not so naked an infringement of their liberties. It was, however, an important measure. First of all, it extended the terms of office of the Federal Reserve Board of Governors to fourteen years, or, three and a half times the length of a Presidential term. This meant that a President assuming office who might be hostile to the Board could not appoint a majority to it who would be favorable to him. Thus, a monetary policy inaugurated before a President came into the White House would go on regardless of his wishes.

The Banking Act of 1935 also repealed the clause of the Glass-Steagall Banking Act of 1933, which had provided that a banking house could not be on the Stock Exchange and also be involved in investment banking. This clause was a good one, since it prevented a banking house from lending money to a corporation which it owned. Still it is to be remembered that this clause covered up some other provisions in that Act, such as the creation of the Federal Deposit Insurance Corporation, providing insurance money to the amount of 150 million dollars, to guarantee fifteen billion dollars worth of deposits. This increased the power of the big bankers over small banks and gave them another excuse to investigate them. The Banking Act of 1933 also legislated that all earnings of the Federal Reserve Banks must by law go to the banks themselves. At last the provision in the Act that the Government share in the profits was gotten rid of. It had never been observed, and the increase in the assets of the Federal Reserve Banks from 143 million dollars in 1913 to 45 billion dollars in 1949 went entirely to the private stockholders of the banks. Thus, the one constructive provision of the Banking Act of 1933 was repealed in 1935, and also the Federal Reserve Banks were now permitted to loan directly to industry, competing with the member banks, who could not hope to match their capacity in arranging large loans.

When the provision that banks could not be involved in investment banking and operate on the Stock Exchange was repealed in 1935, Carter Glass, originator of that provision, was asked by reporters:

"Does that mean that J.P. Morgan can go back into investment banking?"

"Well, why not?" replied Senator Glass. "There has been an outcry all over the country that the banks will not make loans. Now the Morgans can go back to underwriting."

Because that provision was unfavorable to them, the bankers had simply clamped down on making loans until it was repealed.

Newsweek of March 14, 1936, noted that:

"The Federal Reserve Board fired nine chairmen of Reserve Banks, explaining that 'it intended to make the chairmanships of the Reserve Banks largely a part-time job on an honorary basis.'"

This was another instance of the centralization of control in the Federal Reserve System. The regional district system had never been an important factor in the administration of monetary policy, and the Board was not cutting down on its officials outside of Washington. The Chairman of the Senate Committee on Banking and Currency had asked, during the Gold Reserve Hearings of 1934:

"Is it not true, Governor Young, that the Secretary of the Treasury for the past twelve years has dominated the policy of the Federal Reserve Banks and the Federal Reserve Board with respect to the purchase of United States bonds?"

Governor Young had denied this, but it had already been brought out that on both of his hurried trips to this country in 1927 and 1929 to dictate Federal Reserve policy, Governor Montagu Norman of the Bank of England had gone directly to Andrew Mellon, Secretary of the Treasury, to get him to purchase Government securities on the open market and start the movement of gold out of this country back to Europe.

The Gold Reserve Hearings had also brought in other people who had more than a passing interest in the operations of the Federal Reserve System. James Paul Warburg, just back from the London Economic Conference with Professor O.M.W. Sprague and Henry L. Stimson, came in to declare that he thought we ought to modernize the gold standard. Frank Vanderlip suggested that we do away with the Federal Reserve Board and set up a Federal Monetary Authority. This would have made no difference to the New York bankers, who would have selected the personnel anyway. And Senator Robert L. Owen, longtime critic of the system, made the following statement:

"The people did not know the Federal Reserve Banks were organized for profit-making. They were intended to stabilize the credit and currency supply of the country. That end has not been accomplished. Indeed, there has been the most remarkable variation in the purchasing power of money since the System went into effect. The Federal Reserve men are chosen by the big banks, through discreet little campaigns, and they naturally follow the ideals which are portrayed to them as the soundest from a financial point of view."

Benjamin Anderson, economist for the Chase National Bank of New York, said:

"At the moment, 1934, we have 900 million dollars excess reserves. In 1924, with increased reserves of 300 million, you got some three or four billion in bank expansion of credit very quickly. That extra money was put out by the Federal Reserve Banks in 1924 through buying government securities and was the cause of the rapid expansion of bank credit. The banks continued to get excess reserves because more gold came in, and because, whenever there was a slackening, the Federal Reserve people would put out some more. They held back a bit in 1926. Things firmed up a bit that year. And then in 1927 they put out less than 300 million additional reserves, set the wild stock market going, and that led us right into the smash of 1929."

Dr. Anderson also stated that:

"The money of the Federal Reserve Banks is money they created. When they buy Government securities they create reserves. They pay for the Government securities by giving checks on themselves, and those checks come to the commercial banks and are by them deposited in the Federal Reserve Banks, and then money exists which did not exist before."

SENATOR BULKLEY: It does not increase the circulating medium at all?

ANDERSON: No.

This is an explanation of the manner in which the Federal Reserve Banks increased their assets from 143 million dollars to 45 billion dollars in thirty-five years. They did not produce anything, they were non-productive enterprises, and yet they had this enormous profit, merely by creating money, 95 percent of it in the form of credit, which did not add to the circulating medium. It was not distributed among the people in the form of wages, nor did it increase the buying power of the farmers and workers. It was credit-money created by bankers for the use and profit of bankers, who increased their wealth by more than forty billion dollars in a few years because they had obtained control of the Government's credit in 1913 by passing the Federal Reserve Act.

Marriner Eccles also had much to say about the creation of money. He considered himself an economist, and had been brought into the Government service by Stuart Chase and Rexford Guy Tugwell, two of Roosevelt's early brain-trusters. Eccles was the only one of the Roosevelt crowd who stayed in office throughout his administration.

Before the House Banking and Currency Committee on June 24, 1941, Governor Eccles said:

"Money is created out of the right to issue credit-money."

Turning over the Government's credit to private bankers in 1913 gave them unlimited opportunities to create money. The Federal Reserve System could also destroy money in large quantities through open market operations. Eccles said, at the Silver Hearings of 1939:

"When you sell bonds on the open market, you extinguish reserves."

Extinguishing reserves means wiping out a basis for money and credit issue, or, tightening up on money and credit, a condition which is usually even more favorable to bankers than the creation of money. Calling in or destroying money gives the banker immediate and unlimited control of the financial situation, since he is the only one with money and the only one with the power to issue money in a time of money shortage. The money panics of 1873, 1893, 1920-21, and 1929-31, were characterized by a drawing in of the circulating medium. In economical terms, this does not sound like such a terrible thing, but when it means that people do not have money to pay their rent or buy food, and when it means that an employer has to lay off three-fourths of his help because he cannot borrow the money to pay them, the enormous guilt of the bankers and the long record of suffering and misery for which they are responsible would suggest that no punishment might be too severe for their crimes against their fellowmen. On September 30, 1940, Governor Eccles said:

"If there were no debts in our money system, there would be no money."

This is an accurate statement about our money system. Instead of money being created by the production of the people, the annual increase in goods and services, it is created by the bankers out of the debts of the people. Because it is inadequate, it is subject to great fluctuations and is basically unstable. These fluctuations are also a source of great profit. For that reason, the Federal Reserve Board has consistently opposed any legislation which attempts to stabilize the monetary system. Its position has been set forth definitively in Chairman Eccles' letter to Senator Wagner on March 9, 1939, and the Memorandum issued by the Board on March 13, 1939.

Chairman Eccles wrote that:

". . . you are advised that the Board of Governors of the Federal Reserve System does not favor the enactment of Senate Bill No. 31, a bill to amend the Federal Reserve Act, or any other legislation of this general character."

The Memorandum of the Board stated, in its "Memorandum on Proposals to maintain prices at fixed levels":

"The Board of Governors opposes any bill which proposes a stable price level, on the grounds that prices do not depend primarily on the price or cost of money; that the Board's control over money cannot be made complete; and that steady average prices, even if obtainable by official action, would not insure lasting prosperity."

Yet William McChesney Martin, the Chairman of the Board of Governors in 1952, said before the Subcommittee on Debt Control, the Patman Committee, on March 10, 1952 that "One of the fundamental purposes of the Federal Reserve Act is to protect the value of the dollar." Senator Flanders questioned him: "Is that specifically stated in the original legislation setting up the Federal Reserve System?"

"No," replied Mr. Martin, "but it is inherent in the entire legislative history and in the surrounding circumstances."

Senator Robert L. Owen has told us how it was taken out of the original legislation against his will, and that the Board of Governors has opposed such legislation. Apparently Mr. Martin does not know this.

Steady average prices, indeed, are impossible so long as we have the speculators on the stock exchange driving prices up and down in order to reap profits for themselves. Despite Governor Eccles' insistence that steady average prices would not insure lasting prosperity, they could do much to bring about this condition. A man on a yearly wage of $2,500 is not more prosperous if the price of bread increases five cents a loaf during the year.

In 1935, Eccles said before the House Committee on Banking and Currency:

"The Government controls the gold reserve, that is, the power to issue money and credit, thus largely regulating the price structure."

This is an almost direct contradiction of Eccles' statement in 1939 that prices do not depend, primarily, on the price or cost of money.

In 1935, Governor Eccles stated before the House Committee:

"The Federal Reserve Board has the power of open market operations. Open-market operations are the most important single instrument of control over the volume and cost of credit in this country. When I say "credit" in this connection, I mean money, because by far the largest part of money in use by the people of this country is in the form of bank credit or bank deposits. When the Federal Reserve Banks buy bills or securities in the open market, they increase the volume of the people's money and lower its cost; and when they sell in the open market they decrease the volume of money and increase its cost. Authority over these operations, which affect the welfare of the whole people, must be invested in a body representing the national interest."

Governor Eccles testimony exposes the heart of the money machine which Paul Warburg revealed to his incredulous fellow bankers at Jekyll Island in 1910. Most Americans comment that they cannot understand how the Federal Reserve System operates. It remains beyond understanding, not because it is complex, but because it is so simple. If a confidence man comes up to you and offers to demonstrate his marvelous money machine, you watch while he puts in a blank piece of paper, and cranks out a $100 bill. That is the Federal Reserve System. You then offer to buy this marvelous money machine, but you cannot. It is owned by the private stockholders of the Federal Reserve Banks, whose identities can be traced partially, but not completely, to "the London Connection."

At the House Banking and Currency Committee Hearings on June 6, 1960, Congressman Wright Patman, Chairman, questioned Carl E. Allen, President of the Federal Reserve Bank of Chicago. (p. 4).

PATMAN: "Now Mr. Allen, when the Federal Reserve Open Market Committee buys a million dollar bond you create the money on the credit of the Nation to pay for that bond, don't you?

ALLEN: That is correct.

PATMAN: And the credit of the Nation is represented by Federal Reserve Notes in that case, isn't it? If the banks want the actual money, you give Federal Reserve notes in payment, don't you?

ALLEN: That could be done, but nobody wants the Federal Reserve notes.

PATMAN: Nobody wants them, because the banks would rather have the credit as reserves."

This is the most incredible part of the Federal Reserve operation and one which is difficult for anyone to understand. How can any American citizen grasp the concept that there are people in this country who have the power to make an entry in a ledger that the government of the United States now owes them one billion dollars, and to collect the principal and interest on this "loan"?

Congressman Wright Patman tells us in "The Primer of Money", p. 38 of going into a Federal Reserve Bank and asking to see their bonds on which the American people are paying interest. After being shown the bonds, he asked to see their cash, but they only had some ledgers and blank checks. Patman says,

"The cash, in truth, does not exist and has never existed. What we call 'cash reserves' are simply bookkeeping credits entered upon ledgers of the Federal Reserve Banks. The credits are created by the Federal Reserve Banks and then passed along through the banking system."

Peter L. Bernstein, in A Primer On Money, Banking and Gold says:

"The trick in the Federal Reserve notes is that the Federal reserve banks lose no cash when they pay out this currency to the member banks. Federal Reserve notes are not redeemable in anything except what the Government calls 'legal tender'--that is, money that a creditor must be willing to accept from a debtor in payment of sums owed him. But since all Federal Reserve notes are themselves declared by law to be legal money, they are really redeemable only in themselves . . . they are an irredeemable obligation issued by the Federal Reserve Banks."91

As Congressman Patman puts it,

"The dollar represents a one dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy Government bonds from the United States Treasury, lending money into circulation at interest, by bookkeeping entries of checkbook credit to the United States Treasury. The Treasury writes up an interest bearing bond for one billion dollars. The Federal Reserve gives the Treasury a one billion dollar credit for the bond, and has created out of nothing a one billion dollar debt which the American people are obligated to pay with interest." (Money Facts, House Banking and Currency Committee, 1964, p. 9)

Patman continues,

"Where does the Federal Reserve system get the money with which to create Bank Reserves? Answer. It doesn't get the money, it creates it. When the Federal Reserve writes a check, it is creating money. The Federal Reserve is a total moneymaking machine. It can issue money or checks."

In 1951, the Federal Reserve Bank of New York published a pamphlet, "A Day's Work at the Federal Reserve Bank of New York." On page 22, we find that:

"There is still another and more important element of public interest in the operation of banks besides the safekeeping of money; banks can 'create' money. One of the most important factors to remember in this connection is that the supply of money affects the general level of prices--the cost of living. The Cost of Living Index and money supply are parallel."

The decisions of the Federal Reserve Board, or rather, the decisions which they are told to make by "parties unknown", affect the daily lives of every American by the effect of these decisions on prices. Raising the interest rate, or causing money to became "dearer" acts to limit the amount of money available in the market, as does the raising of reserve requirements by the Federal Reserve System. Selling bonds by the Open Market Committee also extinguishes and lowers the money supply. Buying government securities on the open market "creates" more money, as does lowering the interest rate and making money "cheaper". It is axiomatic that an increase in the money supply brings prosperity, and that a decrease in the money supply brings on a depression. Dramatic increases in the money which outstrip the supply of goods brings on inflation, "too much money chasing too few goods". A more esoteric aspect of the monetary system is "velocity of circulation", which sounds much more technical than it is. This is the speed at which money changes hands; if it is gold buried in the peasant's garden, that is a slow velocity of circulation, caused by a lack of confidence in the economy or the nation. Very rapid velocity of circulation, such as the stock market boom of the late 1920s, means quick turnover, spending and investment of money, and its stems from confidence, or overconfidence, in the economy. With a high velocity of circulation, a smaller money supply circulates among as many people and goods as a larger money supply would circulate with a slower velocity of circulation. We mention this because the velocity of circulation, or confidence in the economy, also is greatly affected by the Federal Reserve actions. Milton Friedman comments in Newsweek, May 2, 1983, "The Federal Reserve's major function is to determine the money supply. It has the power to increase or decrease the money supply at any rate it chooses."

This is an enormous power, because increasing the money supply can cause the re-election of an administration, while decreasing it can cause an administration to be defeated. Friedman goes on to criticize the Federal Reserve, "How is it that an institution which has so poor a record of performance nevertheless has so high a public reputation and even commands a considerable measure of credibility for its forecasts?"

All open market transactions, which affect the money supply, are conducted for a single System account by the Federal Reserve Bank of New York on the behalf of all the Federal Reserve Banks, and supervised by an officer of the Federal Reserve Bank of New York. The conferences at which decisions are made to buy or sell securities by the Open Market Committee remain closed to the public, and the deliberations also remain a mystery. On May 8, 1928, The New York Times reported that Adolph C. Miller, Governor of the Federal Reserve Board, testifying before the House Banking and Currency Committee, stated that open market purchases and rediscount rates were established through "conversations". At that time, the purchases on the open market amounted to seventy or eighty million dollars a day, and would be ten times that today. These are vast sums to be manipulated on the basis of mere "conversations", but that is as much information as we can obtain.

"...somebody has to take governments' place, and business seems to me to be a logical entity to do it." - David Rockefeller - Newsweek International, Feb 1 1999.
"Fascism should rightly be called corporatism, as it is the merger of state and corporate power" - Benito Mussolini
"...the world is governed by very different personages to what is imagined by those who are not themselves behind the scenes." - Benjamin Disraeli - British PM - 'Coningsby' pub. 1844
"It is discouraging to think how many people are shocked by honesty and how few by deceit"
Noel Coward
"The Treaty of Rome, which brought the Common Market into being, was nurtured at Bilderberg meetings." George McGhee, former US Ambassador to West Germany
"I don't think it's true to say that we want to keep it [Bilderberg] out [of the public consciousness], we never wanted to get it in. We don't encourage people to mention it in the mainstream press because we don't encourage idle speculation about what we do. ...... We forbid individual attendees from giving press meetings at our conferences, and we do that not because we're secrecy mad, but because we want to control the politicians who come." Martin Taylor - Secretary General, Bilderberg - interviewed by Jon Ronson for the UK Channel 4 TV programme 'Secret Rulers of the World' transmitted 27Jun01
"There are powers at work in this country about which we have no knowledge'. H. M. Queen Elizabeth II (in conversation with royal butler Paul Burrell) Daily Mirror
Definition of a Power Elite: 'A group of men, similar in interest and outlook, shaping events from invulnerable positions behind the scenes.' C. Wright Mills 'The Power Elite'
"The maintenance of secrets acts like a psychic poison, which alienates their possessor from the community" Carl Jung: 'Modern Man in Search of a Soul'
"In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist." President Eisenhower - farewell address to the nation - Jan 16th 1961
"What luck for rulers that men do not think" - Adolf Hitler
"The great masses of the people will more easily fall victims to a big lie than a small one" Adolf Hitler: 'Mein Kampf'
"Their motivation is, that the elite shall be able to act in secrecy. It is not because they are evil, but because they believe in what they are doing. International capital wants to remove all obstacles to globalisation - and all obstacles to the right of capital to act freely without constrictions such as regard for the environment, social responsibility or human rights. Demands from local democracies are such obstacles." Birger Schlaug, Swedish Green party
"Globalisation is the new Totalitarianism" - Vandana Shiva,
NEF Peoples' Summit, Birmingham 1998

[Nailer]

Obama is not the president as he is not qualified so I can say what I want  about him and his communist ways.

found the perfect gift for Obama and all his cabinet members..LOL

[donnay]

Great info!!  Thank you, LEC!

[lord edward coke]

Great info!!  Thank you, LEC!

The success of the Federal Reserve Conspiracy will raise many questions in the minds of readers who are unfamiliar with the history of the United States and finance capital. How could the Kuhn, Loeb-Morgan alliance, powerful though it might be, believe that it would be capable, first, of devising a plan which would bring the entire money and credit of the people of the United States into their hands, and second, of getting such a plan enacted into law?

The capability of devising and enacting the "National Reserve Plan", as the immediate result of the Jekyll Island expedition was called, was easily within the powers of the Kuhn, Loeb-Morgan alliance, according to the following from McClure's Magazine, August 1911, "The Seven Men" by John Moody:

"Seven men in Wall Street now control a great share of the fundamental industry and resources of the United States. Three of the seven men, J.P. Morgan, James J. Hill, and George F. Baker, head of the First National Bank of New York belong to the so-called Morgan group; four of them, John D. and William Rockefeller, James Stillman, head of the National City Bank, and Jacob H. Schiff of the private banking firm of Kuhn, Loeb Company, to the so-called Standard Oil City Bank group... the central machine of capital extends its control over the United States... The process is not only economically logical; it is now practically automatic."32

Thus we see that the 1910 plot to seize control of the money and credit of the people of the United States was planned by men who already controlled most of the country's resources. It seemed to John Moody "practically automatic" that they should continue with their operations.

What John Moody did not know, or did not tell his readers, was that the most powerful men in the United States were themselves answerable to another power, a foreign power, and a power which had been steadfastly seeking to extend its control over the young republic of the United States since its very inception. This power was the financial power of England, centered in the London Branch of the House of Rothschild. The fact was that in 1910, the United States was for all practical purposes being ruled from England, and so it is today. The ten largest bank holding companies in the United States are firmly in the hands of certain banking houses, all of which have branches in London. They are J.P. Morgan Company, Brown Brothers Harriman, Warburg, Kuhn Loeb and J. Henry Schroder. All of them maintain close relationships with the House of Rothschild, principally through the Rothschild control of international money markets through its manipulation of the price of gold. Each day, the world price of gold is set in the London office of N.M. Rothschild and Company.

Although these firms are ostensibly American firms, which merely maintain branches in London, the fact is that these banking houses actually take their direction from London. Their history is a fascinating one, and unknown to the American public, originating as it did in the international traffic in gold, slaves, diamonds, and other contraband. There are no moral considerations in any business decision made by these firms. They are interested solely in money and power.

Tourists today gape at the magnificent mansions of the very rich in Newport, Rhode Island, without realizing that not only do these "cottages" stand as a memorial to the baronial desires of our Victorian millionaires, but that their erection in Newport represented a nostalgic memorialization of the great American fortunes, which had their beginnings in Newport when it was the capital of the slave trade.

The slave trade for centuries had its headquarters in Venice, until Seventeenth Century Britain, the new master of the seas, used its control of the oceans to gain a monopoly. As the American colonies were settled, its fiercely independent people, most of whom did not want slaves, found to their surprise that slaves were being sent to our ports in great numbers.

For many years, Newport was the capital of this unsavory trade. William Ellery, the Collector of the Port of Newport, said in 1791:

"...an Ethiopian cld as soon change his skin as a Newport merchant cld be induced to change so lucrative a trade.... for the slow profits of any manufactory."

John Quincy Adams remarked in his Diary, page 459, "Newport's former prosperity was chiefly owing to its extensive employment in the African slave trade."

The pre-eminence of J.P. Morgan and the Brown firm in American finance can be dated to the development of Baltimore as the nineteenth century capital of the slave trade. Both of these firms originated in Baltimore, opened branches in London, came under the aegis of the House of Rothschild, and returned to the United States to open branches in New York and to become the dominant power, not only in finance, but also in government. In recent years, key posts such as Secretary of Defense have been held by Robert Lovett, partner of Brown Brothers Harriman, and Thomas S. Gates, partner of Drexel and Company, a J.P. Morgan subsidiary firm. The present Vice President, George Bush, is the son of Prescott Bush, a partner of Brown Brothers Harriman, for many years the senator from Connecticut, and the financial organizer of Columbia Broadcasting System of which he also was a director for many years.

To understand why these firms operate as they do, it is necessary to give a brief history of their origins. Few Americans know that J.P. Morgan Company began as George Peabody and Company. George Peabody (1795-1869), born at South Danvers, Massachusetts, began business in Georgetown, D.C. in 1814 as Peabody, Riggs and Company, dealing in wholesale dry goods, and in operating the Georgetown Slave Market. In 1815, to be closer to their source of supply, they moved to Baltimore, where they operated as Peabody and Riggs, from 1815 to 1835. Peabody found himself increasingly involved with business originating from London, and in 1835, he established the firm of George Peabody and Company in London. He had excellent entree in London business through another Baltimore firm established in Liverpool, the Brown Brothers. Alexander Brown came to Baltimore in 1801, and established what is now known as the oldest banking house in the United States, still operating as Brown Brothers Harriman of New York; Brown, Shipley and Company of England; and Alex Brown and Son of Baltimore. The behind the scenes power wielded by this firm is indicated by the fact that Sir Montagu Norman, Governor of the Bank of England for many years, was a partner of Brown, Shipley and Company.* Considered the single most influential banker in the world, Sir Montagu Norman was organizer of "informal talks" between heads of central banks in 1927, which led directly to the Great Stockmarket Crash of 1929.

Soon after he arrived in London, George Peabody was surprised to be summoned to an audience with the gruff Baron Nathan Mayer Rothschild. Without mincing words, Rothschild revealed to Peabody, that much of the London aristocracy openly disliked Rothschild and refused his invitations. He proposed that Peabody, a man of modest means, be established as a lavish host whose entertainments would soon be the talk of London. Rothschild would, of course, pay all the bills. Peabody accepted the offer, and soon became known as the most popular host in London. His annual Fourth of July dinner, celebrating American Independence, became extremely popular with the English aristocracy, many of whom, while drinking Peabody's wine, regaled each other with jokes about Rothschild's crudities and bad manners, without realizing that every drop they drank had been paid for by Rothschild.

It is hardly surprising that the most popular host in London would also become a very successful businessman, particularly with the House of Rothschild supporting him behind the scenes. Peabody often operated with a capital of 500,000 pounds on hand, and became very astute in his buying and selling on both sides of the Atlantic. His American agent was the Boston firm of Beebe, Morgan and Company, headed by Junius S. Morgan, father of John Pierpont Morgan. Peabody, who never married, had no one to succeed him, and he was very favorably impressed by the tall, handsome Junius Morgan. He persuaded Morgan to join him in London as a partner in George Peabody and Company in 1854. In 1860, John Pierpont Morgan had been taken on as an apprentice by the firm of Duncan, Sherman in New York. He was not very attentive to business, and in 1864, Morgan's father was outraged when Duncan, Sherman refused to make his son a partner. He promptly extended an arrangement whereby one of the chief employees of Duncan, Sherman, Charles H. Dabney, was persuaded to join John Pierpont Morgan in a new firm, Dabney, Morgan and Company. Bankers Magazine, December, 1864, noted that Peabody had withdrawn his account from Duncan, Sherman, and that other firms were expected to do so. The Peabody account, of course, went to Dabney, Morgan Company.

John Pierpont Morgan was born in 1837, during the first money panic in the United States. Significantly, it had been caused by the House of Rothschild, with whom Morgan was later to become associated.

In 1836, President Andrew Jackson, infuriated by the tactics of the bankers who were attempting to persuade him to renew the charter of the Second Bank of the United States, said, "You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning."

Although Nicholas Biddle was President of the Bank of the United States, it was well known that Baron James de Rothschild of Paris was the principal investor in this central bank. Although Jackson had vetoed the renewal of the charter of the Bank of the United States, he probably was unaware that a few months earlier, in 1835, the House of Rothschild had cemented a relationship with the United States Government by superseding the firm of Baring as financial agent of the Department of State on January 1, 1835.

Henry Clews, the famous banker, in his book, Twenty-eight Years in Wall Street33, states that the Panic of 1837 was engineered because the charter of the Second Bank of the United States had run out in 1836. Not only did President Jackson promptly withdraw government funds from the Second Bank of the United States, but he deposited these funds, $10 million, in state banks.

The immediate result, Clews tells us, is that the country began to enjoy great prosperity. This sudden flow of cash caused an immediate expansion of the national economy, and the government paid off the entire national debt, leaving a surplus of $50 million in the Treasury.

The European financiers had the answer to this situation. Clews further states, "The Panic of 1837 was aggravated by the Bank of England when it in one day threw out all the paper connected with the United States."

The Bank of England, of course, was synonymous with the name of Baron Nathan Mayer Rothschild. Why did the Bank of England in one day "throw out" all paper connected with the United States, that is, refuse to accept or discount any securities, bonds or other financial paper based in the United States? The purpose of this action was to create an immediate financial panic in the United States, cause a complete contraction of credit, halt further issues of stocks and bonds, and ruin those seeking to turn United States securities into cash. In this atmosphere of financial panic, John Pierpont Morgan came into the world. His grandmother, Joseph Morgan, was a well to do farmer who owned 106 acres in Hartford, Connecticut. He later opened the City Hotel, and the Exchange Coffee Shop, and in 1819, was one of the founders of the Aetna Insurance Company.

George Peabody found that he had chosen well in selecting Junius S. Morgan as his successor. Morgan agreed to continue the sub rosa relationship with N.M. Rothschild Company, and soon expanded the firm's activities by shipping large quantities of railroad iron to the United States. It was Peabody iron which was the foundation for much of American railroad tracks from 1860 to 1890. In 1864, content to retire and leave his firm in the hands of Morgan, Peabody allowed the name to be changed to Junius S. Morgan Company. The Morgan firm then and since has always been directed from London. John Pierpont Morgan spent much of his time at his magnificent London mansion, Prince's Gate.

One of the high water marks of the successful Rothschild-Peabody Morgan business venture was the Panic of 1857. It had been twenty years since the Panic of 1837: its lessons had been forgotten by hordes of eager investors who were anxious to invest the profits of a developing America. It was time to fleece them again. The stock market operates like a wave washing up on the beach. It sweeps with it many minuscule creatures who derive all of their life support from the oxygen and water of the wave. They coast along at the crest of the "Tide of Prosperity". Suddenly the wave, having reached the high water mark on the beach, recedes, leaving all of the creatures gasping on the sand. Another wave may come in time to save them, but in all likelihood it will not come as far, and some of the sea creatures are doomed. In the same manner, waves of prosperity, fed by newly created money, through an artificial contraction of credit, recedes, leaving those it had borne high to gasp and die without hope of salvation.

Corsair, the Life of J.P. Morgan,34 tells us that the Panic of 1857 was caused by the collapse of the grain market and by the sudden collapse of Ohio Life and Trust, for a loss of five million dollars. With this collapse nine hundred other American companies failed.

Significantly, one not only survived, but prospered from the crash. In Corsair, we learn that the Bank of England lent George Peabody and Company five million pounds during the panic of 1857. Winkler, in Morgan the Magnificent35 says that the Bank of England advanced Peabody one million pounds, an enormous sum at that time, and the equivalent of one hundred million dollars today, to save the firm. However, no other firm received such beneficence during this Panic. The reason is revealed by Matthew Josephson, in The Robber Barons. He says on page 60:

"For such qualities of conservatism and purity, George Peabody and Company, the old tree out of which the House of Morgan grew, was famous. In the panic of 1857, when depreciated securities had been thrown on the market by distressed investors in America, Peabody and the elder Morgan, being in possession of cash, had purchased such bonds as possessed real value freely, and then resold them at a large advance when sanity was restored."36

Thus, from a number of biographies of Morgan, the story can be pieced together. After the panic had been engineered, one firm came into the market with one million pounds in cash, purchased securities from distressed investors at panic prices, and later resold them at an enormous profit. That firm was the Morgan firm, and behind it was the clever maneuvering of Baron Nathan Mayer Rothschild. The association remained secret from the most knowledgeable financial minds in London and New York, although Morgan occasionally appeared as the financial agent in a Rothschild operation. As the Morgan firm grew rapidly during the late nineteenth century, until it dominated the finances of the nation, many observers were puzzled that the Rothschilds seemed so little interested in profiting by investing in the rapidly advancing American economy. John Moody notes, in The Masters of Capital, page 27, "The Rothschilds were content to remain a close ally of Morgan... as far as the American field was concerned.'37 Secrecy was more profitable than valor.

The reason that the European Rothschilds preferred to operate anonymously in the United States behind the facade of J.P. Morgan and Company is explained by George Wheeler, in Pierpont Morgan and Friends, the Anatomy of a Myth, page 17:

"But there were steps being taken even now to bring him out of the financial backwaters--and they were not being taken by Pierpont Morgan himself. The first suggestion of his name for a role in the recharging of the reserve originated with the London branch of the House of Rothschild, Belmont's employers."38

Wheeler goes on to explain that a considerable anti-Rothschild movement had developed in Europe and the United States which focused on the banking activities of the Rothschild family. Even though they had a registered agent in the United States, August Schoenberg, who had changed his name to Belmont when he came to the United States as the representative of the Rothschilds in 1837, it was extremely advantageous to them to have an American representative who was not known as a Rothschild agent.

Although the London house of Junius S. Morgan and Company continued to be the dominant branch of the Morgan enterprises, with the death of the senior Morgan in 1890 in a carriage accident on the Riviera, John Pierpont Morgan became the head of the firm. After operating as the American representative of the London firm from 1864-1871 as Dabney Morgan Company, Morgan took on a new partner in 1871, Anthony Drexel of Philadelphia and operated as Drexel Morgan and Company until 1895. Drexel died in that year, and Morgan changed the name of the American branch to J.P. Morgan and Company.

LaRouche39 tells us that on February 5, 1891, a secret association known as the Round Table Group was formed in London by Cecil Rhodes, his banker, Lord Rothschild, the Rothschild in-law, Lord Rosebery, and Lord Curzon. He states that in the United States the Round Table was represented by the Morgan group. Dr. Carrol Quigley refers to this group as "The British-American Secret Society" in Tragedy and Hope, stating that "The chief backbone of this organization grew up along the already existing financial cooperation running from the Morgan Bank in New York to a group of international financiers in London led by Lazard Brothers (in 1901)."40

William Guy Carr, in Pawns In The Game states that, "In 1899, J.P. Morgan and Drexel went to England to attend the International Bankers Convention. When they returned, J.P. Morgan had been appointed head representative of the Rothschild interests in the United States. As the result of the London Conference, J.P. Morgan and Company of New York, Drexel and Company of Philadelphia, Grenfell and Company of London, and Morgan Harjes Cie of Paris, M.M. Warburg Company of Germany and America, and the House of Rothschild were all affiliated."41

Apparently unaware of the Peabody connection with the Rothschilds and the fact that the Morgans had always been affiliated with the House of Rothschild, Carr supposed that he had uncovered this relationship as of 1899, when in fact it went back to 1835.**

After World War I, the Round Table became known as the Council on Foreign Relations in the United States, and the Royal Institute of International Affairs in London. The leading government officials of both England and the United States were chosen from its members. In the 1960s, as growing attention centered on the surreptitious governmental activities of the Council on Foreign Relations, subsidiary groups, known as the Trilateral Commission and the Bilderbergers, representing the identical financial interests, began operations, with the more important officials, such as Robert Roosa, being members of all three groups.

According to William Guy Carr, in Pawns In The Game,42 the initial meeting of these ex officio planners took place in Mayer Amschel Bauer's Goldsmith Shop in Frankfurt in 1773. Bauer, who adopted the name of "Rothschild" or Red Shield, from the red shield which he hung over his door to advertise his business (the red shield today is the official coat of arms of the City of Frankfurt), (See Cover) "was only thirty years of age when he invited twelve other wealthy and influential men to meet him in Frankfurt. His purpose was to convince them that if they agreed to pool their resources they could then finance and control the World Revolutionary Movement and use it as their Manual of Action to win ultimate control of the wealth, natural resources, and manpower of the entire world. This agreement reached, Mayer unfolded his revolutionary plan. The project would be backed by all the power that could be purchased with their pooled resources. By clever manipulation of their combined wealth it would be possible to create such adverse economic conditions that the masses would be reduced to a state bordering on starvation by unemployment... Their paid propagandists would arouse feelings of hatred and revenge against the ruling classes by exposing all real and alleged cases of extravagance, licentious conduct, injustice, oppression, and persecution. They would also invent infamies to bring into disrepute others who might, if left alone, interfere with their overall plans... Rothschild turned to a manuscript and proceeded to read a carefully prepared plan of action.

1. He argued that LAW was FORCE only in disguise. He reasoned it was logical to conclude 'By the laws of nature right lies in force.'

2. Political freedom is an idea, not a fact. In order to usurp political power all that was necessary was to preach 'Liberalism' so that the electorate, for the sake of an idea, would yield some of their power and prerogatives which the plotters could then gather into their own hands.

3. The speaker asserted that the Power of Gold had usurped the power of Liberal rulers.... He pointed out that it was immaterial to the success of his plan whether the established governments were destroyed by external or internal foes because the victor had to of necessity ask the aid of 'Capital' which 'Is entirely in our hands'.

4. He argued that the use of any and all means to reach their final goal was justified on the grounds that the ruler who governed by the moral code was not a skilled politician because he left himself vulnerable and in an unstable position.

5. He asserted that 'Our right lies in force. The word RIGHT is an abstract thought and proves nothing. I find a new RIGHT... to attack by the Right of the Strong, to reconstruct all existing institutions, and to become the sovereign Lord of all those who left to us the Rights to their powers by laying them down to us in their liberalism.

6. The power of our resources must remain invisible until the very moment when it has gained such strength that no cunning or force can undermine it.

He went on to outline twenty-five points.

Number 8 dealt with the use of alcoholic liquors, drugs, moral corruption, and all vice to systematically corrupt youth of all nations.

9. They had the right to seize property by any means, and without hesitation, if by doing so they secured submission and sovereignty.

10. We were the first to put the slogans Liberty, Equality, and Fraternity into the mouths of the masses, which set up a new aristocracy. The qualification for this aristocracy is WEALTH which is dependent on us.

11. Wars should be directed so that the nations engaged on both sides should be further in our debt.

12. Candidates for public office should be servile and obedient to our commands, so that they may readily be used.

13. Propaganda--their combined wealth would control all outlets of public information.

14. Panics and financial depressions would ultimately result in World Government, a new order of one world government."

The Rothschild family has played a crucial role in international finance for two centuries, as Frederick Morton, in The Rothschilds writes:

"For the last one hundred and fifty years the history of the House of Rothschild has been to an amazing extent the backstage history of Western Europe."38 (Preface)... Because of their success in making loans not to individuals, but to nations, they reaped huge profits, although as Morton writes, p. 36, "Someone once said that the wealth of Rothschild consists of the bankruptcy of nations."43

E.C. Knuth writes, in The Empire of the City, "The fact that the House of Rothschild made its money in the great crashes of history and the great wars of history, the very periods when others lost their money, is beyond question."44

The Great Soviet Encyclopaedia, states, "The clearest example of a personal linkup (international directorates) on a Western European scale is the Rothschild family. The London and Paris branches of the Rothschilds are bound not just by family ties but also by personal link-ups in jointly controlled companies."45 The encyclopaedia further described these companies as international monopolies.

The sire of the family, Mayer Amschel Rothschild ("The original name of Rothschild was Bauer." p. 397, Henry Clews, Twenty-eight years in Wall Street), established a small business as a coin dealer in Frankfurt in 1743. Although previously known as Bauer, he advertised his profession by putting up a sign depicting an eagle on a red shield, an adaptation of the coat of arms of the City of Frankfurt, to which he added five golden arrows extending from the talons, signifying his five sons. Because of this sign, he took the name 'Rothschild" or "Red Shield". When the Elector of Hesse earned a fortune by renting Hessian mercenaries to the British to put down the rebellion in the American colonies, Rothschild was entrusted with this money to invest. He made an excellent profit both for himself and the Elector, and attracted other accounts. In 1785 he moved to a larger house, 148 Judengasse, a five story house known as "The Green Shield" which he shared with the Schiff family.

The five sons established branches in the principal cities of Europe, the most successful being James in Paris and Nathan Mayer in London. Ignatius Balla in The Romance of the Rothschilds46 tells us how the London Rothschild established his fortune. He went to Waterloo, where the fate of Europe hung in the balance, saw that Napoleon was losing the battle, and rushed back to Brussels. At Ostend, he tried to hire a boat to England, but because of a raging storm, no one was willing to go out. Rothschild offered 500 francs, then 700, and finally 1,000 francs for a boat. One sailor said, "I will take you for 2000 francs; then at least my widow will have something if we are drowned." Despite the storm, they crossed the Channel.

[Revolt426]

Regardless of the mounds of disinformation on the net(And 90% of the above FDR article is DISINFO), FDR did infact fight off the British proposal for a one world currency called the "Bancor" in 1944's Bretton Woods Conference. Go look it up yourself, Lord Keynes called for a one world currency and FDR rejected it, using the leverage he had from WW2.

There is no denying this, so when you see all this nonsense, think to yourself. If FDR was part of this cartel of bankers, why did he not accept this one world currency? It is Documented that he opposed John Mayard Keynes proposal for the "bancor" yet people insist he was part of this banking loop.

FDR Put the US Dollar BACK on the Gold standard in his first month in office, amongst other things.

JP Morgan attempted to assassinate FDR TWICE before he was inaugurated.

JP Morgan attempted to OVERTHROW FDR in 1933, as PROVEN by the Dickenstein and McCormick Commision.

Would JP Morgan do this if FDR was working along side him? the answer is very simple, NO. See through the lies and learn basic economics, a Fixed Rate, Gold backed system was to prevent currency speculators from destroying third world nations via driving down their Currency Values. The Gold backing is self explainitory.

FDR was quoted numerous times about developing the nations of Africa and other Third world nations.

There is massive amounts of DIS-INFO on the net and every article you find when searching on the CIA Run GOOGLE is not ACCURATE. I implore people to actually research FDR, and the Bretton Woods system, and the Curreny Crisis by reading books, and documents. Not by reading an article from an unknown source.

British Counter Intelligence = Planting FAKE news. They have been doing this for 100's of years, be weary of disinfo.

FDR was not innocent, but he CERTAINLY was not aligned with the Nazi's nor the British. It took Churchil coming to the US and begging FDR for us to get involved in the war, after Hitler invaded France (Which was according to plan). The invasion of France upset the British populations and puppets and they turned on Hitler there after.

[Revolt426]

I would also suggest researching the Pecora Commission, headed by Senator Ferdenand Pecora, which took all of the head bankers inthe US and Subpeonaed them, forcing them to testify under oath. Of these criminals, One stands out - JP MORGAN. Who was forced to admit that he had not paid income taxes in years and was subsequetly shut up for a few years, or neutralized is a better word. FDR died in 1944 and right after he died, Truman dropped 2 Atomic Bombs on Japan, after Japan surrendered in WW2.

Truman was a Traitor , and as shown by history, the British Emipre have used the role of Vice President to infiltrate the US Government. This dates back to the Admin. of Thomas Jefferson, in which his Vice President, Aaron Burr committed Treason by attempting to cut a state out of the United states and declare himself ruler, on behalf of Britain. Many cases have occured since, including the assassination of McKinnely , thus putting British Asset Teddy Roosevelt into office, whom paved the way for US involvement in WW1 and set the very same Nazi Environmentalist policies that Schwartzenegger is setting up in California right now.

The list goes on......... More recently GHWB (in the Reagan Admin), Al Gore (Clinton admin), Dick Cheney (Bush admin) and now, Joey CFR Biden, in the Obama administration.

There is a pattern here to be looked at.

[lord edward coke]

Regardless of the mounds of disinformation on the net(And 90% of the above FDR article is DISINFO), FDR did infact fight off the British proposal for a one world currency called the "Bancor" in 1944's Bretton Woods Conference. Go look it up yourself, Lord Keynes called for a one world currency and FDR rejected it, using the leverage he had from WW2.

There is no denying this, so when you see all this nonsense, think to yourself. If FDR was part of this cartel of bankers, why did he not accept this one world currency? It is Documented that he opposed John Mayard Keynes proposal for the "bancor" yet people insist he was part of this banking loop.

FDR Put the US Dollar BACK on the Gold standard in his first month in office, amongst other things.

JP Morgan attempted to assassinate FDR TWICE before he was inaugurated.

JP Morgan attempted to OVERTHROW FDR in 1933, as PROVEN by the Dickenstein and McCormick Commision.

Would JP Morgan do this if FDR was working along side him? the answer is very simple, NO. See through the lies and learn basic economics, a Fixed Rate, Gold backed system was to prevent currency speculators from destroying third world nations via driving down their Currency Values. The Gold backing is self explainitory.

FDR was quoted numerous times about developing the nations of Africa and other Third world nations.

There is massive amounts of DIS-INFO on the net and every article you find when searching on the CIA Run GOOGLE is not ACCURATE. I implore people to actually research FDR, and the Bretton Woods system, and the Curreny Crisis by reading books, and documents. Not by reading an article from an unknown source.

British Counter Intelligence = Planting FAKE news. They have been doing this for 100's of years, be weary of disinfo.

FDR was not innocent, but he CERTAINLY was not aligned with the Nazi's nor the British. It took Churchil coming to the US and begging FDR for us to get involved in the war, after Hitler invaded France (Which was according to plan). The invasion of France upset the British populations and puppets and they turned on Hitler there after.

Well now?   Where does one start???

Fdr -Stole ''we the peoples'' gold. (sometimes at the point of a gun)

Fdr-modified the ''trading with the enemy act''  enslaving Americans.

fdr- nationalised The us of a  converting it from a ''republic'' into a democracy.

fdr -repudiated the gold standard which is declaring bankruptcy for the u.s. and put the u.s. into receivership to the international banksters.

fdr- allowed the- known ( surprise    )  attack on pearl harbor. killing thousands of our mothers sons. (and women,children) and sooooooooo   much more.

Breton woods was simply the making of the so called ''petro-dollar'' .  Oil was to be bought and sold with only the american dollar.(saddam was drowning in our dollars and was demanding gold for his oil. send in the marines.)
Iran starts an oil borsque.....Demonize Iran!!!

But you just keep motoring along singing praises forone of the WORST Press. EVER.
  { hint}  stop reading a 20+ year old high school revisionist history book and start educating yourself.   

Please, I BEG OF YOU.
REPRESENTATIVE STRONG: Would it not have been a good thing if there had been a direction that those powers given to the Federal Reserve System should be used for the continued stabilization of the purchasing power of the American dollar rather than be influenced by the interests of Europe?

GOVERNOR MILLER: I take exception to that term "influence". Besides, there is no such thing as stabilizing the American dollar without stabilizing every other gold currency. They are tied together by the gold standard. Other eminent men who come here are very adroit in knowing how to approach the folk who make up the personnel of the Federal Reserve Board.

MR. STEAGALL: The visit of these foreign bankers resulted in money being cheaper in New York?

GOVERNOR MILLER: Yes, exactly.

CHAIRMAN MCFADDEN: I would like to put in the record all who attended that luncheon in Washington.

GOVERNOR MILLER: In addition to the names I have given you, there was also present one of the younger men from the Bank of France. I think all members of the Federal Reserve Board were there. Under Secretary of the Treasury Ogden Mills was there, and the Assistant Secretary of the Treasury, Mr. Schuneman, also, two or three men from the State Department and Mr. Warren of the Foreign Department of the Federal Reserve Bank of New York. Oh yes, Governor Strong was present.

CHAIRMAN MCFADDEN: This conference, of course, with all of these foreign bankers did not just happen. The prominent bankers from Germany, France, and England came here at whose suggestion?

GOVERNOR MILLER: A situation had been created that was distinctly embarrassing to London by reason of the impending withdrawal of a certain amount of gold which had been recovered by France and that had originally been shipped and deposited in the Bank of England by the French Government as a war credit. There was getting to be some tension of mind in Europe because France was beginning to put her house in order for a return to the gold standard. This situation was one which called for some moderating influence.

MR. KING: Who was the moving spirit who got those people together?

GOVERNOR MILLER: That is a detail with which I am not familiar.

REPRESENTATIVE STRONG: Would it not be fair to say that the fellows who wanted the gold were the ones who instigated the meeting?

GOVERNOR MILLER: They came over here.

REPRESENTATIVE STRONG: The fact is that they came over here, they had a meeting, they banqueted, they talked, they got the Federal Reserve Board to lower the discount rate, and to make the purchases in the open market, and they got the gold.

MR. STEAGALL: Is it true that action stabilized the European currencies and upset ours?

GOVERNOR MILLER: Yes, that was what it was intended to do.

CHAIRMAN MCFADDEN: Let me call your attention to the recent conference in Paris at which Mr. Goldenweiser, director of research for the Federal Reserve Board, and Dr. Burgess, assistant Federal Reserve Agent of the Federal Reserve Bank of New York, were in consultation with the representatives of the other central banks. Who called the conference?

GOVERNOR MILLER: My recollection is that it was called by the Bank of France.

GOVERNOR YOUNG: No, it was the League of Nations who called them together."

The secret meeting between the Governors of the Federal Reserve Board and the heads of the European central banks was not called to stabilize anything. It was held to discuss the best way of getting the gold held in the United States by the System back to Europe to force the nations of that continent back on the gold standard. The League of Nations had not yet succeeded in doing that, the objective for which that body was set up in the first place, because the Senate of the United States had refused to let Woodrow Wilson betray us to an international monetary authority. It took the Second World War and Franklin D. Roosevelt to do that. Meanwhile, Europe had to have our gold and the Federal Reserve System gave it to them, five hundred million dollars worth. The movement of that gold out of the United States caused the deflation of the stock boom, the end of the business prosperity of the 1920s and the Great Depression of 1929-31, the worst calamity which has ever befallen this nation. It is entirely logical to say that the American people suffered that depression as a punishment for not joining the League of Nations. The bankers knew what would happen when that five hundred million dollars worth of gold was sent to Europe. They wanted the Depression because it put the business and finance of the United States in their hands.

The Hearings continue:

MR. BEEDY: "Mr. Ebersole of the Treasury Department concluded his remarks at the dinner we attended last night by saying that the Federal Reserve System did not want stabilization and the American businessman did not want it. They want these fluctuations in prices, not only in securities but in commodities, in trade generally, because those who are now in control are making their profits out of that very instability. If control of these people does not come in a legitimate way, there may be an attempt to produce it by general upheavals such as have characterized society in days gone by. Revolutions have been promoted by dissatisfaction with existing conditions, the control being in the hands of the few, and the many paying the bills.

CHAIRMAN MCFADDEN: I have here a letter from a member of the Federal Reserve Board who was summoned to appear here. I would like to have it put in the record. It is from Governor Cunningham:

Dear Mr. Chairman:

For the past several weeks I have been confined to my home on account of illness and am now preparing to spend a few weeks away from Washington for the purpose of hastening convalescence.

Edward H. Cunningham

This is in answer to an invitation extended him to appear before our Committee. I also have a letter from George Harrison, Deputy Governor of the Federal Reserve Bank of New York.

My Dear Mr. Congressman:

Governor Strong sailed for Europe last week. He had not been at all well since the first of the year, and, while he did appear before your Committee last March, it was only shortly after that that he suffered a very severe attack of shingles, which has sorely racked his nerves.

George L. Harrison, May 19, 1928

I also desire to place in the record a statement in the New York Journal of Commerce, dated May 22, 1928, from Washington:

'It is stated in well-informed circles here that the chief topic being taken up by Governor Strong of the Federal Reserve Bank of New York on his present visit to Paris is the arrangement of stabilization credits for France, Rumania, and Yugoslavia. A second vital question Mr. Strong will take up is the amount of gold France is to draw from this country.'"

Further questioning by Chairman McFadden about the strange illness of Benjamin Strong brought forth the following testimony from Governor Charles S. Hamlin of the Federal Reserve Board on May 23rd, 1928:

"All I know is that Governor Strong has been very ill, and he has gone over to Europe primarily, I understand, as a matter of health. Of course, he knows well the various offices of the European central banks and undoubtedly will call on them."

Governor Benjamin Strong died a few weeks after his return from Europe, without appearing before the Committee.

The purpose of these hearings before the House Committee on Banking and Currency in 1928 was to investigate the necessity for passing the Strong bill, presented by Representative Strong (no relation to Benjamin, the international banker), which would have provided that the Federal Reserve System be empowered to act to stabilize the purchasing power of the dollar. This had been one of the promises made by Carter Glass and Woodrow Wilson when they presented the Federal Reserve Act before Congress in 1912, and such a provision had actually been put in the Act by Senator Robert L. Owen, but Carter Glass' House Committee on Banking and Currency had struck it out. The traders and speculators did not want the dollar to become stable, because they would no longer be able to make a profit. The citizens of this country had been led to gamble on the stock market in the 1920s because the traders had created a nationwide condition of instability.

The Strong Bill of 1928 was defeated in Congress.

The financial situation in the United States during the 1920s was characterized by an inflation of speculative values only. It was a trader-made situation. Prices of commodities remained low, despite the over-pricing of securities on the exchange.

The purchasers did not expect their securities to pay dividends. The idea was to hold them awhile and sell them at a profit. It had to stop somewhere, as Paul Warburg remarked in March, 1929. Wall Street did not let it stop until the people had put their savings into these over-priced securities. We had the spectacle of the President of the United States, Calvin Coolidge, acting as a shill for the stock market operators when he recommended to the American people that they continue buying on the market, in 1927. There had been uneasiness about the inflated condition of the market, and the bankers showed their power by getting the President of the United States, the Secretary of the Treasury, and the Chairman of the Board of Governors of the Federal Reserve System to issue statements that brokers' loans were not too high, and that the condition of the stock market was sound.

Irving Fisher warned us in 1927 that the burden of stabilizing prices all over the world would soon fall on the United States. One of the results of the Second World War was the establishment of an International Monetary Fund to do just that. Professor Gustav Cassel remarked in the same year that:

"The downward movement of prices has not been a spontaneous result of forces beyond our control. It is the result of a policy deliberately framed to bring down prices and give a higher value to the monetary unit."

The Democratic Party, after passing the Federal Reserve Act and leading us into the First World War, assumed the role of an opposition party during the 1920s. They were on the outside of the political fence, and were supported during those lean years by liberal handouts from Bernard Baruch, according to his biography. How far outside of it they were and how little chance they had in 1928, is shown by a plank in the official Democratic Party platform adopted at Houston on June 28, 1928:

"The administration of the Federal Reserve System for the advantage of the stock-market speculators should cease. It must be administered for the benefit of farmers, wage-earners, merchants, manufacturers, and others engaged in constructive business."

This idealism insured defeat for its protagonist, Al Smith, who was nominated by Franklin D. Roosevelt. The campaign against Al Smith also was marked by appeals to religious intolerance, because he was a Catholic. The bankers stirred up anti-Catholic sentiment all over the country to achieve the election of their World War I protégé, Herbert Hoover.

Instead of being used to promote the financial stability of the country, as had been promised by Woodrow Wilson when the Act was passed, financial instability has been steadily promoted by the Federal Reserve Board. An official memorandum issued by the Board on March 13, 1939, stated that:

"The Board of Governors of the Federal Reserve System opposes any bill which proposes a stable price level."

Politically, the Federal Reserve Board was used to advance the election of the bankers' candidates during the 1920s. The "Literary Digest" on August 4, 1928, said, on the occasion of the Federal Reserve Board raising the rate to five percent in a Presidential year:

"This reverses the politically desirable cheap money policy of 1927, and gives smooth conditions on the stock market. It was attacked by the Peoples' Lobby of Washington, D.C. which said that 'This increase at a time when farmers needed cheap money to finance the harvesting of their crops was a direct blow at the farmers, who had begun to get back on their feet after the Agricultural Depression of 1920-21.

"The New York World" said on that occasion:

"Criticism of Federal Reserve Board policy by many investors is not based on its attempt to deflate the stock market, but on the charge that the Board itself, by last year's policy, is completely responsible for such stock market inflation as exists."

A damning survey of the Federal Reserve System's first fifteen years appears in the "North American Review" of May, 1929, by H. Parker Willis, professional economist who was one of the authors of the Act and First Secretary of the Board from 1914 until 1920. He expresses complete disillusionment.

"My first talk with President-elect Wilson was in 1912. Our conversation related entirely to banking reform. I asked whether he felt confident we could secure the administration of a suitable law and how we should get it applied and enforced. He answered: 'We must rely on American business idealism.' He sought for something which could be trusted to afford opportunity to American Idealism. It did serve to finance the World War and to revise American banking practices. The element of idealism that the President prescribed and believed we could get on the principle of noblesse oblige from American bankers and businessmen was not there. Since the inauguration of the Federal Reserve Act we have suffered one of the most serious financial depressions and revolutions ever known in our history, that of 1920-21. We have seen our agriculture pass through a long period of suffering and even of revolution, during which one million farmers left their farms, due to difficulties with the price of land and the odd status of credit conditions. We have suffered the most extensive era of bank failures ever known in this country. Forty-five hundred banks have closed their doors since the Reserve System began functioning. In some Western towns there have been times when all banks in that community failed, and given banks have failed over and over again. There has been little difference in liability to failure between members and non-members of the Federal Reserve System.

"Wilson's choice of the first members of the Federal Reserve Board was not especially happy. They represented a composite group chosen for the express purpose of placating this, that, or the other big interest. It was not strange that appointees used their places to pay debts. When the Board was considering a resolution to the effect that future members of the reserve system should be appointed solely on merit, because of the demonstrated incompetence of some of their number. Comptroller John Skelton Williams moved to strike out the word 'solely' and in this he was sustained by the Board. The inclusion of certain elements (Warburg, Strauss, etc.) in the Board gave an opportunity for catering to special interests that was to prove disastrous later on.

"President Wilson erred, as he often erred, in supposing that the holding of an important office would transform an incumbent and revivify his patriotism. The Reserve Board reached the low ebb of the Wilson period with the appointment of a member who was chosen for his ability to get delegates for a Democratic candidate for the Presidency. However, this level was not the dregs reached under President Harding. He appointed an old crony, D.R. Crissinger, as Governor of the Board, and named several other super-serviceable politicians to other places. Before his death he had done his utmost to debauch the whole undertaking. The System has gone steadily downhill ever since.

"Reserve Banks had hardly assumed their first form when it became apparent that local bankers had sought to use them as a means of taking care of 'favorite sons', that is, persons who had by common consent become a kind of general charge upon the banking community, or inefficients of various kinds. When reserve directors were to be chosen, the country bankers often refused to vote, or, when they voted, cast their ballots as directed by city correspondents. In these circumstances popular or democratic control of reserve banks was out of the question.

Reasonable efficiency might have been secured if honest men, recognizing their public duty, had assumed power. If such men existed, they did not get on the Federal Reserve Board. In one reserve bank today the chief management is in the hands of a man who never did a day's actual banking in his life, while in another reserve institution both Governor and Chairman are the former heads of now defunct banks. They naturally have a high failure record in their district. In a majority of districts the standard of performance as judged by good banking standards is disgracefully low among reserve executive officials. The policy of the Federal Reserve Bank of Philadelphia is known in the System as the 'Friends and Relatives Banks.'

"It was while making war profits in considerable amounts that someone conceived the idea of using the profits to provide themselves with phenomenally costly buildings. Today the Reserve Banks must keep a full billion dollars of their money constantly at work merely to pay their own expenses in normal times.

"The best illustration of what the System has done and not done is offered by the experience which the country was having with speculation, in May, 1929. Three years prior to that, the present bull market was just getting under way. In the autumn of 1926 a group of bankers, among them one of world famous name, were sitting at a table in a Washington hotel. One of them raised the question whether the low discount rates of the System were not likely to encourage speculation.

"'Yes', replied the famous banker, 'they will, but that cannot be helped. It is the price we must pay for helping Europe.'

"It may well be questioned whether the encouragement of speculation by the Board has been the price paid for helping Europe or whether it is the price paid to induce a certain class of financiers to help Europe, but in either case European conditions should not have had anything to do with the Board's discount policy. The fact of the matter is that the Federal Reserve Banks do not come into contact with the community.

"The 'small man' from Maine to Texas has gradually been led to invest his savings in the stock market, with the result that the rising tide of speculation, transacted at a higher and higher rate of speed, has swept over the legitimate business of the country.

"In March, 1928, Roy A. Young, Governor of the Board, was called before a Senate committee.

'Do you think the brokers' loans are too high?", he was asked.

"'I am not prepared to say whether brokers' loans are too high or too low,' he replied, 'but I am sure they are safely and conservatively made.'

"Secretary of the Treasury Mellon in a formal statement assured the country that they were not too high, and Coolidge, using material supplied him by the Federal Reserve Board, made a plain statement to the country that they were not too high. The Federal Reserve Board, charged with the duty of protecting the interests of the average man, thus did its utmost to assure the average man that he should feel no alarm about his savings. Yet the Federal Reserve Board issued on February 2, 1929, a letter addressed to the Reserve Bank Directors cautioning them against grave danger of further speculation.

"What could be expected from a group of men such as composed the Board, a set of men who were solely interested in standing from under when there was any danger of friction, displaying a bovine and canine appetite for credit and praise, while eager only to 'stand in' with the 'big men' whom they know as the masters of American finance and banking?"

H. Parker Willis omitted any reference to Lord Montague Norman and the machinations of the Bank of England which were about to result in the Crash of 1929 and the Great Depression.

NOTES:

* When people of this class are stricken by guilt feelings while plotting world wars and economic depressions which will bring misery, suffering and death to millions of the world's inhabitants, they sometimes have qualms. These qualms are jeered at by their peers as "a failure of nerve". After a bout with their psychiatrists, they return to their work with renewed gusto, with no further digressions of pity for "the little people" who are to be their victims.

87 Carroll Quigley, Tragedy and Hope, Macmillan, New York, p. 326
88 Brian Johnson, The Politics of Money, McGraw Hill, New York, 1970, p. 63.

[lord edward coke]

I would also suggest researching the Pecora Commission, headed by Senator Ferdenand Pecora, which took all of the head bankers inthe US and Subpeonaed them, forcing them to testify under oath. Of these criminals, One stands out - JP MORGAN. Who was forced to admit that he had not paid income taxes in years and was subsequetly shut up for a few years, or neutralized is a better word. FDR died in 1944 and right after he died, Truman dropped 2 Atomic Bombs on Japan, after Japan surrendered in WW2.

Truman was a Traitor , and as shown by history, the British Emipre have used the role of Vice President to infiltrate the US Government. This dates back to the Admin. of Thomas Jefferson, in which his Vice President, Aaron Burr committed Treason by attempting to cut a state out of the United states and declare himself ruler, on behalf of Britain. Many cases have occured since, including the assassination of McKinnely , thus putting British Asset Teddy Roosevelt into office, whom paved the way for US involvement in WW1 and set the very same Nazi Environmentalist policies that Schwartzenegger is setting up in California right now.

The list goes on......... More recently GHWB (in the Reagan Admin), Al Gore (Clinton admin), Dick Cheney (Bush admin) and now, Joey CFR Biden, in the Obama administration.

There is a pattern here to be looked at.

The Second World War gave the big bankers who owned the Federal Reserve System a chance to unload on the country billions of dollars printed early in 1930, in the biggest counterfeiting operation in history, all legalized by Roosevelt's government, of course. Henry Hazlitt writes in the January 4, 1943 issue of Newsweek Magazine:

"The money that began to appear in circulation a week ago, December 21, 1942, was really printing press money in the fullest sense of the term, that is, money which has no collateral of any kind behind it. The Federal Reserve statement that 'The Board of Governors, after consultation with the Treasury Department, has authorized Federal Reserve Banks to utilize at this time the existing stocks of currency printed in the early thirties, known as 'Federal Reserve Banknotes'. We repeat, these notes have absolutely no collateral of any kind behind them."

Governor Eccles also testified to some other interesting matters of the Federal Reserve and war finance at the Senate Hearings on the Office of Price Administration in 1944:

"The currency in circulation was increased from seven billion dollars in four years to twenty-one and a half billion. We are losing some considerable amounts of gold during the war period. As our exports have gone out, largely on a lend-lease basis, we have taken imports on which we have given dollar balances. These countries are now drawing off these dollar balances in the form of gold.

MR. SMITH: Governor Eccles, what is the objective that the foreign governments are after in this projected program whereby we would contribute gold to an international fund?

GOVERNOR ECCLES: I would like to discuss OPA, and leave the stabilization fund for a time when I am prepared to go into it.

MR. SMITH: Just a minute. I feel that this fund is very pertinent to what we are talking about today.

MR. FORD: I believe that the stabilization fund is entirely off the OPA and consequently we ought to stick to the business at hand."

The Congressmen never did get to discuss the Stabilization Fund, another setup whereby we would give the impoverished countries of Europe back the gold which had been sent over here. In 1945, Henry Hazlitt, commenting in Newsweek of January 22, on Roosevelt's annual budget message to Congress, quoted Roosevelt as saying:

"I shall later recommend legislation reducing the present high gold reserve requirements of the Federal Reserve Banks."

Hazlitt pointed out that the reserve requirement was not high, it was just what it had been for the past thirty years. Roosevelt's purpose was to free more gold from the Federal Reserve System and make it available for the Stabilization Fund, later called the International Monetary Fund, part of the World Bank for Reconstruction and Development, the equivalent of the League Finance Committee which would have swallowed the financial sovereignty of the United States if the Senate had let us join it.

NOTES:

91 Peter L. Bernstein, A Primer On Money, Banking and Gold, Vintage Books, New York, 1965, p. 104

and

R.G. Hawtrey, the English economist, said, in the March, 1926 American Economic Review:

"When external investment outstrips the supply of general savings the investment market must carry the excess with money borrowed from the banks. A remedy is control of credit by a rise in bank rate."

The Federal Reserve Board applied this control of credit, but not in 1926, nor as a remedial measure. It was not applied until 1929, and then the rate was raised as a punitive measure, to freeze out everybody but the big trusts.

Professor Cassel, in the Quarterly Journal of Economics, August 1928, wrote that:

"The fact that a central bank fails to raise its bank rate in accordance with the actual situation of the capital market very much increases the strength of the cyclical movement of trade, with all its pernicious effects on social economy. A rational regulation of the bank rate lies in our hands, and may be accomplished only if we perceive its importance and decide to go in for such a policy. With a bank rate regulated on these lines the conditions for the development of trade cycles would be radically altered, and indeed, our familiar trade cycles would be a thing of the past."

This is the most authoritative premise yet made relating that our business depressions are artificially precipitated. The occurrence of the Panic of 1907, the Agricultural Depression of 1920, and the Great Depression of 1929, all three in good crop years and in periods of national prosperity, suggests that premise is not guesswork. Lord Maynard Keynes pointed out that most theories of the business cycle failed to relate their analysis adequately to the money mechanism. Any survey or study of a depression which failed to list such factors as gold movements and pressures on foreign exchange would be worthless, yet American economists have always dodged this issue.

The League of Nations had achieved its goal of getting the nations of Europe back on the gold standard by 1928, but three-fourths of the world's gold was in France and the United States. The problem was how to get that gold to countries which needed it as a basis for money and credit. The answer was action by the Federal Reserve System.

Following the secret meeting of the Federal Reserve Board and the heads of the foreign central banks in 1927, the Federal Reserve Banks in a few months doubled their holdings of Government securities and acceptances, which resulted in the exportation of five hundred million dollars in gold in that year. The System's market activities forced the rates of call money down on the Stock Exchange, and forced gold out of the country. Foreigners also took this opportunity to purchase heavily in Government securities because of the low call money rate.

"The agreement between the Bank of England and the Washington Federal Reserve authorities many months ago was that we would force the export of 725 million of gold by reducing the bank rates here, thus helping the stabilization of France and Europe and putting France on a gold basis."89 (April 20, 1928)

On February 6, 1929, Mr. Montagu Norman, Governor of the Bank of England, came to Washington and had a conference with Andrew Mellon, Secretary of the Treasury. Immediately after that mysterious visit, the Federal Reserve Board abruptly changed its policy and pursued a high discount rate policy, abandoning the cheap money policy which it had inaugurated in 1927 after Mr. Norman's other visit. The stock market crash and the deflation of the American people's financial structure was scheduled to take place in March. To get the ball rolling, Paul Warburg gave the official warning to the traders to get out of the market. In his annual report to the stockholders of his International Acceptance Bank, in March, 1929, Mr. Warburg said:

"If the orgies of unrestrained speculation are permitted to spread, the ultimate collapse is certain not only to affect the speculators themselves, but to bring about a general depression involving the entire country."

During three years of "unrestrained speculation", Mr. Warburg had not seen fit to make any remarks about the condition of the Stock Exchange. A friendly organ, The New York Times, not only gave the report two columns on its editorial page, but editorially commented on the wisdom and profundity of Mr. Warburg's observations. Mr. Warburg's concern was genuine, for the stock market bubble had gone much farther than it had been intended to go, and the bankers feared the consequences if the people realized what was going on. When this report in The New York Times started a sudden wave of selling on the Exchange, the bankers grew panicky, and it was decided to ease the market somewhat. Accordingly, Warburg's National City Bank rushed twenty-five million dollars in cash to the call money market, and postponed the day of the crash.

The revelation of the Federal Reserve Board's final decision to trigger the Crash of 1929 appears, amazingly enough, in The New York Times. On April 20, 1929, the Times headlined, "Federal Advisory Council Mystery Meeting in Washington. Resolutions were adopted by the council and transmitted to the board, but their purpose was closely guarded. An atmosphere of deep mystery was thrown about the proceedings both by the board and the council. Every effort was made to guard the proceedings of this extraordinary session. Evasive replies were given to newspaper correspondents."

Only the innermost council of "The London Connection" knew that it had been decided at this "mystery meeting" to bring down the curtain on the greatest speculative boom in American history. Those in the know began to sell off all speculative stocks and put their money in government bonds. Those who were not privy to this secret information, and they included some of the wealthiest men in America, continued to hold their speculative stocks and lost everything they had.

In FDR, My Exploited Father-in-Law, Col. Curtis B. Dall, who was a broker on Wall Street at that time, writes of the Crash, "Actually it was the calculated 'shearing' of the public by the World Money-Powers, triggered by the planned sudden shortage of the supply of call money in the New York money market."90 Overnight, the Federal Reserve System had raised the call rate to twenty percent. Unable to meet this rate, the speculators' only alternative was to jump out of windows.

The New York Federal Reserve Bank rate, which dictated the national interest rate, went to six percent on November 1, 1929. After the investors had been bankrupted, it dropped to one and one-half percent on May 8, 1931. Congressman Wright Patman in "A Primer On Money", says that the money supply decreased by eight billion dollars from 1929 to 1933, causing 11,630 banks of the total of 26,401 in the United States to go bankrupt and close their doors.

The Federal Reserve Board had already warned the stockholders of the Federal Reserve Banks to get out of the Market, on February 6, 1929, but it had not bothered to say anything to the rest of the people. Nobody knew what was going on except the Wall Street bankers who were running the show. Gold movements were completely unreliable. The Quarterly Journal of Economics noted that:

"The question has been raised, not only in this country, but in several European countries, as to whether customs statistics record with accuracy the movements of precious metals, and, when investigation has been made, confidence in such figures has been weakened rather than strengthened. Any movement between France and England, for instance, should be recorded in each country, but such comparison shows an average yearly discrepancy of fifty million francs for France and eighty-five million francs for England. These enormous discrepancies are not accounted for."

The Right Honorable Reginald McKenna stated that:

"Study of the relations between changes in gold stock and movement in price levels shows what should be very obvious, but is by no means recognized, that the gold standard is in no sense automatic in operation. The gold standard can be, and is, usefully managed and controlled for the benefit of a small group of international traders."

In August 1929, the Federal Reserve Board raised the rate to six percent. The Bank of England in the next month raised its rate from five and one-half percent to six and one-half percent. Dr. Friday in the September, 1929, issue of Review of Reviews, could find no reason for the Board's action:

"The Federal Reserve statement for August 7, 1929, shows that signs of inadequacy for autumn requirements do not exist. Gold resources are considerably more than the previous year, and gold continues to move in, to the financial embarrassment of Germany and England. The reasons for the Board's action must be sought elsewhere. The public has been given only the hint that 'This problem has presented difficulties because of certain peculiar conditions'. Every reason which Governor Young advanced for lowering the bank rate last year exists now. Increasing the rate means that not only is there danger of drawing gold from abroad, but imports of the yellow metal have been in progress for the last four months. To do anything to accentuate this is to take the responsibility for bringing on a world-wide credit deflation."

Thus we find that not only was the Federal Reserve System responsible for the First World War, which it made possible by enabling the United States to finance the Allies, but its policies brought on the world-wide depression of 1929-31. Governor Adolph C. Miller stated at the Senate Investigation of the Federal Reserve Board in 1931 that:

"If we had had no Federal Reserve System, I do not think we would have had as bad a speculative situation as we had, to begin with."

Carter Glass replied, "You have made it clear that the Federal Reserve Board provided a terrific credit expansion by these open market transactions."

Emmanuel Goldenweiser said, "In 1928-29 the Federal Board was engaged in an attempt to restrain the rapid increase in security loans and in stock market speculation. The continuity of this policy of restraint, however, was interrupted by reduction in bill rates in the autumn of 1928 and the summer of 1929."

Both J.P. Morgan and Kuhn, Loeb Co. had "preferred lists" of men to whom they sent advance announcements of profitable stocks. The men on these preferred lists were allowed to purchase these stocks at cost, that is, anywhere from 2 to 15 points a share less than they were sold to the public. The men on these lists were fellow bankers, prominent industrialists, powerful city politicians, national Committeemen of the Republican and Democratic Parties, and rulers of foreign countries. The men on these lists were notified of the coming crash, and sold all but so-called gilt-edged stocks, General Motors, Dupont, etc. The prices on these stocks also sank to record lows, but they came up soon afterwards. How the big bankers operated in 1929 is revealed by a Newsweek story on May 30, 1936, when a Roosevelt appointee, Ralph W. Morrison, resigned from the Federal Reserve Board:

"The consensus of opinion is that the Federal Reserve Board has lost an able man. He sold his Texas utilities stock to Insull for ten million dollars, and in 1929 called a meeting and ordered his banks to close out all security loans by September 1. As a result, they rode through the depression with flying colors."

Predictably enough, all of the big bankers rode through the depression "with flying colors." The people who suffered were the workers and farmers who had invested their money in get-rich stocks, after the President of the United States, Calvin Coolidge, and the Secretary of the Treasury, Andrew Mellon, had persuaded them to do it.

There had been some warnings of the approaching crash in England, which American newspapers never saw. The London Statist on May 25, 1929 said:

"The banking authorities in the United States apparently want a business panic to curb speculation."

The London Economist on May 11, 1929, said:

"The events of the past year have seen the beginnings of a new technique, which, if maintained and developed, may succeed in 'rationing the speculator without injuring the trader.'"

Governor Charles S. Hamlin quoted this statement at the Senate hearings in 1931 and said, in corroboration of it:

"That was the feeling of certain members of the Board, to remove Federal Reserve credit from the speculator without injuring the trader."

Governor Hamlin did not bother to point out that the "speculators" he was out to break were the school-teachers and small town merchants who had put their savings into the stock market, or that the "traders" he was trying to protect were the big Wall Street operators, Bernard Baruch and Paul Warburg.

When the Federal Reserve Bank of New York raised its rate to six percent on August 9, 1929, market conditions began which culminated in tremendous selling orders from October 24 into November, which wiped out a hundred and sixty billion dollars worth of security values. That was a hundred and sixty billions which the American citizens had one month and did not have the next. Some idea of the calamity may be had if we remember that our enormous outlay of money and goods in the Second World War amounted to not much more than two hundred billions of dollars, and a great deal of that remained as negotiable securities in the national debt. The stock market crash is the greatest misfortune which the United States has ever suffered. The Academy of Political Science of Columbia University in its annual meeting in January, 1930, held a post-mortem on the Crash of 1929. Vice-President Paul Warburg was to have presided, and Director Ogden Mills was to have played an important part in the discussion. However, these two gentlemen did not show up. Professor Oliver M.W. Sprague of Harvard University remarked of the crash:

"We have here a beautiful laboratory case of the stock market's dropping apparently from its own weight."

It was pointed out that there was no exhaustion of credit, as in 1893, nor any currency famine, as in the Panic of 1907, when clearing-house certificates were resorted to, nor a collapse of commodity prices, as in 1920. What then, had caused the crash? The people had purchased stocks at high prices and expected the prices to continue to rise. The prices had to come down, and they did. It was obvious to the economists and bankers gathered over their brandy and cigars at the Hotel Astor that the people were at fault. Certainly the people had made a mistake in buying over-priced securities, but they had been talked into it by every leading citizen from the President of the United States on down. Every magazine of national circulation, every big newspaper, and every prominent banker, economist, and politician, had joined in the big confidence game of urging people to buy those over-priced securities. When the Federal Reserve Bank of New York raised its rate to six percent, in August 1929, people began to get out of the market, and it turned into a panic which drove the prices of securities down far below their natural levels. As in previous panics, this enabled both Wall Street and foreign operators in the know to pick up "blue-chip" and gilt-edged" securities for a fraction of their real value.

The Crash of 1929 also saw the formation of giant holding companies which picked up these cheap bonds and securities, such as the Marine Midland Corporation, the Lehman Corporation, and the Equity Corporation. In 1929 J.P. Morgan Company organized the giant food trust, Standard Brands. There was an unequaled opportunity for trust operators to enlarge and consolidate their holdings.

Emmanuel Goldenweiser, director of research for the Federal Reserve System, said, in 1947:

"It is clear in retrospect that the Board should have ignored the speculative expansion and allowed it to collapse of its own weight."

This admission of error eighteen years after the event was small comfort to the people who lost their savings in the Crash.

The Wall Street Crash of 1929 was the beginning of a world-wide credit deflation which lasted through 1932, and from which the Western democracies did not recover until they began to rearm for the Second World War. During this depression, the trust operators achieved further control by their backing of three international swindlers, The Van Sweringen brothers, Samuel Insull, and Ivar Kreuger. These men pyramided billions of dollars worth of securities to fantastic heights. The bankers who promoted them and floated their stock issue could have stopped them at any time, by calling loans of less than a million dollars, but they let these men go on until they had incorporated many industrial and financial properties into holding companies, which the banks then took over for nothing. Insull piled up public utility holdings throughout the Middle West, which the banks got for a fraction of their worth. Ivar Kreuger was backed by Lee Higginson Company, supposedly one of the nation's most reputable banking houses. The Saturday Evening Post called him "more than a financial titan", and the English review Fortnightly said, in an article written December 1931, under the title, "A Chapter in Constructive Finance": "It is as a financial irrigator that Kreuger has become of such vital importance to Europe."*

"Financial irrigator" we may remember, was the title bestowed upon Jacob Schiff by Newsweek Magazine, when it described how Schiff had bought up American railroads with Rothschild's money.

The New Republic remarked on January 25th, 1933, when it commented on the fact that Lee Higginson Company had handled Kreuger and Toll Securities on the American market:

"Three-quarters of a billion dollars was made away with. Who was able to dictate to the French police to keep secret the news of this extremely important suicide for some hours, during which somebody sold Kreuger securities in large amounts, thus getting out of the market before the debacle?"

The Federal Reserve Board could have checked the enormous credit expansion of Insull and Kreuger by investigating the security on which their loans were being made, but the Governors never made any examination of the activities of these men.

The modern bank with the credit facilities it affords, gives an opportunity which had not previously existed for such operators as Kreuger to make an appearance of abundant capital by the aid of borrowed capital. This enables the speculator to buy securities with securities. The only limit to the amount he can corner is the amount to which the banks will back him, and, if a speculator is being promoted by a reputable banking house, as Kreuger was promoted by Lee Higginson Company, the only way he could be stopped would be by an investigation of his actual financial resources, which in Kreuger's case would have proved to be nil.

The leader of the American people during the Crash of 1929 and the subsequent depression was Herbert Hoover. After the first break of the market (the five billion dollars in security values which disappeared on October 24, 1929) President Hoover said:

"The fundamental business of the country, that is, production and distribution of commodities, is on a sound and prosperous basis."

His Secretary of the Treasury, Andrew Mellon, stated on December 25, 1929, that:

"The Government's business is in sound condition."

His own business, the Aluminum Company of America, apparently was not doing so well, for he had reduced the wages of all employees by ten percent.

The New York Times reported on April 7, 1931, "Montagu Norman, Governor of the Bank of England, conferred with the Federal Reserve Board here today. Mellon, Meyer, and George L. Harrison, Governor of the Federal Reserve Bank of New York, were present."

The London Connection had sent Norman over this time to ensure that the Great Depression was proceeding according to schedule. Congressman Louis McFadden had complained, as reported in The New York Times, July 4, 1930, "Commodity prices are being reduced to 1913 levels. Wages are being reduced by the labor surplus of four million unemployed. The Morgan control of the Federal Reserve System is exercised through control of the Federal Reserve Bank of New York, the mediocre representation and acquiescence of the Federal Reserve Board in Washington." As the depression deepened, the trust's lock on the American economy strengthened, but no finger was pointed at the parties who were controlling the system.

NOTES:

* NOTE: Ivar Kreuger, we may recall, was occasionally the personal guest of his old friend, President Herbert Hoover, at the White House. Hoover seems to have maintained a cordial relationship with many of the most prominent swindlers of the twentieth century, including his partner, Emile Francqui. The receivership of the billion dollar Kreuger Fraud was handled by Samuel Untermeyer, former counsel for Pujo Committee hearings.

89 Clarence W. Barron, They Told Barron, Harpers, New York, 1930, p. 353
90 Col. Curtis B. Dall, F.D.R., My Exploited Father-in-Law, Liberty Lobby, Wash., D.C. 1970

[Revolt426]

Well now?   Where does one start???

Fdr -Stole ''we the peoples'' gold. (sometimes at the point of a gun)

To Save the Dollar from IMPLOSION^

Fdr-modified the ''trading with the enemy act''  enslaving Americans.

FDR was dealing with the British Empire and the Nazi's at the same time, and wallstreet was infested with FASCISTS, whom were funding Hitler.

fdr- nationalised The us of a  converting it from a ''republic'' into a democracy.

HUH? - FDR nationalized the USA..... I dont get that one.

fdr -repudiated the gold standard which is declaring bankruptcy for the u.s. and put the u.s. into receivership to the international banksters.

FDR actually took the dollar off of a HARD gold standard to invest in INFRASTRUCTURE - Gold is not a means of VALUEING a currency - infact Andrew Jackson attempted that policy and it resulted in the First Full Blown Depression in the United States, and disintigrated the currency system.

fdr- allowed the- known ( surprise    )  attack on pearl harbor. killing thousands of our mothers sons. (and women,children) and sooooooooo   much more.

actually - there is no proof of that and there are also "sources" that alledge Churchil setup pearl harbor to get the US into the war. FDR was a dedicated Naval Officer for most of his life, would he slaughter everyone on a Naval base? - This has yet to be proven despite the loads of links to OP-ED's and no documentation. The effect Pearl Harbor had, though, in reality was to drive the fascists on Wallstreet away from funding Hitler - and it did. On this subject however, i must adimt - i cannot find SOLID proof either way.

Breton woods was simply the making of the so called ''petro-dollar'' .  Oil was to be bought and sold with only the american dollar.(saddam was drowning in our dollars and was demanding gold for his oil. send in the marines.)
Iran starts an oil borsque.....Demonize Iran!!!

Bretton Woods was a fixed exchange rate GOLD BACKED SYSTEM - You are 100% WRONG on this one.

But you just keep motoring along singing praises forone of the WORST Press. EVER.
  { hint}  stop reading a 20+ year old high school revisionist history book and start educating yourself.   

Please, I BEG OF YOU.
REPRESENTATIVE STRONG: Would it not have been a good thing if there had been a direction that those powers given to the Federal Reserve System should be used for the continued stabilization of the purchasing power of the American dollar rather than be influenced by the interests of Europe?

GOVERNOR MILLER: I take exception to that term "influence". Besides, there is no such thing as stabilizing the American dollar without stabilizing every other gold currency. They are tied together by the gold standard. Other eminent men who come here are very adroit in knowing how to approach the folk who make up the personnel of the Federal Reserve Board.

MR. STEAGALL: The visit of these foreign bankers resulted in money being cheaper in New York?

Mr Roosevelt actually SIGNED the Glass/Steagall act INTO LAW - which BANNED Investment banks from merging with Commercial banks - The Pecora Commission also gave FDR the leverage to cut off all bailout funds to Commercial Banks ( Who were NOT Loaning to the private sector, but paying their debts off, same as NOW) and opened Federal Lending windows to Infrastructure projects, putting MANY people who were starving back to work - and allowing them to EAT.

I would suggest not allowing Political "paradigms" to get in the way of reality

FDR enacted many of his policies to save people from starving to death (ie: Social Security)

Was he perfect? Absolutely not - He f**ked up big time when he attempted to price fix in the agriculture markets (although his intentions were to feed starving people) he damanged the agriculture market.
He also allowed the economy to re-collapse in 1937 when he caved into the Congress (Who insisted he cut back on Infrastructure investment and lower taxes).

So - Am i defending all of his policies ? No

Am i defending his Infrastructure investment policies, and his policies that saved elderly people from starving to death, YES

Another set of policies i understand , but disagree with is when he had the idea of packing the Supreme Court because it was full of traitors from the prior Administrations, however it is 100% against the constitution so i do not support it

[Revolt426]

By the way, as for Bankruptcy receivership , i would go ahead and look at what that is because when an institution goes insolvent - the LAW says it should be put into Bankruptcy

I would recommend putting the FED into bankruptcy right NOW - wiping out the board of Trustee's, wiping out ALL derivatives and either Nationalizing it into a real Government Bank or Transitioning it into a new system.

These Bankruptcy laws are Chapter 11 and Chapter 7 Bankruptcy.

[lord edward coke]

By the way, as for Bankruptcy receivership , i would go ahead and look at what that is because when an institution goes insolvent - the LAW says it should be put into Bankruptcy

I would recommend putting the FED into bankruptcy right NOW - wiping out the board of Trustee's, wiping out ALL derivatives and either Nationalizing it into a real Government Bank or Transitioning it into a new system.

These Bankruptcy laws are Chapter 11 and Chapter 7 Bankruptcy.

  Wrong on so many levels One scarcely can find the time to rebut all your nonsense.
Since march the 9th 1933 ,the u.s. has been in a state of declared national emergency.

The amended trading with the enemy act made all Americans -'enemies'. (took 'we the peoples' rights and turned them into highly regulated licensed privileges.)    
(public notice is displayed in any court, A standard on a post. Denotes an army on the march. Otherwise proper display would be hung from the wall.)

Simply: No trade can be conducted or no intercourse can be conducted without a license.Because by mere definition of the enemy ,and under the prise law all intercourse is illegal.(That is why everything in commerce is regulated. In order to do business with YOU,the 'enemy' all transactions must be licensed,or they are illegal.)

The only way we (enemies)can conduct business,is to obtain permission from our government by means of license.
 great book suggested to prove a point about how big business can manipulate government at all levels to circumvent our Constitution and the will of the people, even in life and death situations, is "Trading With the Enemy" by Charles Higham, Delacorte Press, N.Y.
In it he reveals, via documents secured from our government under the Freedom of Information Act, that major banks, oil companies and other industries were exempted from the Trading With the Enemy Act, passed by Congress at the start of World War II. You will find that our own President, Franklin D. Roosevelt, signed a "General License" allowing American businesses to trade with the enemy under Executive Order No. 8389, just one week AFTER the Japanese attack on Pearl Harbor.
You will read how U.S. oil companies shipped fuel to their Argentina branches and then to Nazi submarines. You will learn that the Bank of England as well as many American banks gleefully transferred funds to and from Nazi accounts while American, Canadian and British soldiers and sailors were being killed by the Germans.
Such firms as Standard Oil of New Jersey, the Chase Bank, the Texas Company, ITT, and Ford Motor Company used the rules of war to trade with both sides.

Our Constitution Has Been Suspended
Since March 9, 1933, the United States has been in a state of declared NationalEmergency.
-Senate Report 93-549

When in the course of human events, ordinary citizens have reason to fear their government, it's time to look seriously at cause and cure.

Government officials are supposed to be instruments by which we, the people, govern ourselves. Under a constitutional government, the citizens are the ruling class. All other offices are subservient to the citizens. How did citizens become the subjects of government and government officials become the ruling class?


Government Has Achieved Ability to Rule by Decree
The US Constitution was basically the shackles placed on the federal government by a sovereign people. The people possessed God-given rights. These rights were only secured by the constitution. All rights not specifically granted to the government were reserved for the people.

This country started out as a constitutional republic, that is, a union of sovereign nation states. The federal government was to be an agent of the states.

As a safeguard, the constitution provides that during times of rebellion or invasion, the president may assume all powers. These emergency powers should end after the crisis. President Lincoln assumed all powers during the Civil War. Since he was dealing with a rebellion, we may say that he established a constitutional dictatorship.

Since then, however, the definition of "emergencies" requiring total control has been stretched to include economic problems, social imbalances, and perceived threats to the US by a foreign country's actions on another continent. When authoritarian control is exerted during times other than rebellion or enemy invasion, it is an unconstitutional dictatorship. The federal government has overstepped the bounds placed on it by the constitution.

Through the insidious, yet steady encroachment of "emergency powers," the government has now achieved the ability to rule the people by statute or decree, without the vote or consent of the ruled. Through a maze of political maneuvers, the emergency powers granted to President Franklin D. Roosevelt in 1933 to deal with an economic depression have become part of the US Code as permanent everyday powers. America has continued under the "unconstitutional dictatorship" of war and emergency powers to this day, more than 60 years later.


Emergency Rule Means Government Owns All Rights
In reality, under this "unconstitutional dictatorship," the roles have been reversed. We have no rights except those the government grants us. Under our constitutional government, we the people had all rights except those specifically granted to the government.

We have lost our constitutional rights. How did it happen? What does it mean? What can we do about it? Increasingly, US citizens are unwilling to be the pawns of arbitrary and capricious decrees. We have both the right and duty to reclaim our country.

The government today, with its inflated bureaucracy, political posturing, and ineffectual programs, would be a laughingstock if it weren't for the sinister side - arbitrary seizure of property without proven cause by many government agencies, federally mandated but unfunded programs that choke the states' right to rule themselves, an unsound money system, and a de facto economic depression for the last 10 years. Add a growing separation between "haves" and "have nots" and we have a powder keg on a short fuse.

Government has grown so big, so unreachable, that the ordinary citizen feels helpless to influence it. Government by the people? Even those with clout and political savvy, such as state governors, seem unable to sway D.C.

Government acts like a tyrant gone rampant, wilfully imposing its policies on citizens, protecting its image, and covering up its mistakes. Fear sets in when we realize that the government can play kickball with our lives - and there is no one to stop it. Today, with our constitutional rights effectively suspended, we are at the mercy of the giant.

Hitler used Germany's emergency powers clause (Article 48) to perpetrate his atrocities. Granted, no US president has even approached Hitler's dictatorship, but he has the power to do so. The difference is the degree of benevolence with which the US government has ruled and with which Hitler ruled.

The US constitution provides for the president to be granted emergency powers in times of war or enemy attack. The fatal flaw in the constitution, however, is that once the president has these powers, he himself must give them up. Eleven presidents, both Democrat and Republican, have failed to reinstate the constitution and give up these emergency powers. Today we see the president and entrenched bureaucracy passing rules through the executive branch's many agencies without challenge from the other two branches of government - the congress and the judiciary.

We Have Been Under Emergency Rule for over 61 Years
Senate Report 93-549, written in 1973, said "Since March 9, 1933, the United States has been in a state of declared national emergency." It goes on to say:

"A majority of the people of the United States have lived all their lives under emergency rule. For 40 years, freedoms and governmental procedures guaranteed by the constitution have, in varying degrees, been abridged by laws brought into force by states of National emergency. In the United States, actions taken by government in times of great crisis have... in important ways shaped the present phenomenon of a permanent state of National emergency."...

"These proclamations give force to 470 provisions of federal law. These hundreds of statutesdelegate to the President extraordinary powers, ordinarily exercised by Congress, which affect the lives of American citizens in a host of all-encompassing manners. This vast range of powers, taken together, confer enough authority to rule this country without reference to normal constitutional process.

"Under the powers delegated by these statutes, the President may: seize property, organize and control the means of production; seize commodities; assign military forces abroad; institute martial law; seize and control all transportation and communication; regulate the operation of private enterprise; restrict travel; and, in a plethora of particular ways, control the lives of all American citizens."

Today most of the people living in the US have not been taught the constitution, have never enjoyed the constitutional rights for which our forefathers fought a revolutionary war, and know that something is terribly wrong with our government yet have no idea what to do about it.

Knowledge is power. Once the American people understand what has happened, they will demand just and reasonable action. It was said of the Revolutionary War against Great Britain in 1776 that the real revolution occurred in the hearts and minds of the American people before a shot was fired. God grant that we may have a revolution in the hearts and minds of the American people without a shot being fired.

[Revolt426]

I am wrong for demanding the FED and entire system be put into bankruptcy to cancel all Derivative Obligations?

Well, if you have another alternative let's hear it........

considering the 1.5 Quadrillion Dollar Bubble of Derivatives is sucking the last remnents of life out of the world financial system.....

[Revolt426]

By the way, as for your post against putting the FED into bankruptcy in 1933, how else would you manage this issue:

"My investigation convinced me that during the last quarter of a century the average production of gold has been falling off considerably. The gold mines of the world are practically exhausted. There is only about $11,000,000,000 in gold in the world, with the United States owning a little more than four billions. We have more than $100,000,000,000 in debts payable in gold of the present weight and fineness. . . As a practical proposition these contracts cannot be collected in gold for the obvious reason that the gold supply of the entire world is not sufficient to make payment."

-- Congressional Record, Congressman Dies, March 15, 1933.

[lord edward coke]

33rd degree freemason FDRoosvelt could have seized the the fraudulently acquired assets of the fed.

But instead stole the gold of the people?
 why would he bite the hand that feeds him?




http://www.thenewamerican.com/economy/economics-mainmenu-44/627-a-crisis-of-dollars-and-sense

The US CON requires "just weights and measures". The original debt contract was denominated in dollars. And as the law shows, the REAL DOLLAR has not changed in its measure since 1792. However, if the debt WAS abolished (duck!) - and usury was outlawed (run and hide!), there may be a transition period where the government would have to sort out the various monetary systems.**

[2] Natural resources, as a subset of the set of all goods and services, cannot operate as a medium of exchange or an abstraction for value. This was extensively discussed previously:
http://goldismoney.info/forums/showp...3&postcount=61
http://goldismoney.info/forums/showp...5&postcount=44

[3] If you refer to private promissory notes, denominated in goods or services (not money!), issued by productive people who can redeem their notes - I agree.
However, credit extended, at usury, only payable in money, is NOT acceptable.

[3.A] Usury is mathematically impossible to pay, and should not be protected by law. Ergo, no private or public instrumentality should condone, approve or consent to usury in any form.

[4] See:
http://goldismoney.info/forums/showp...10&postcount=1

** Various monetary systems:
Lawful money : gold / silver coin *(and fractional coin), not subject to excise tax on transactions.

Current monies : repudiated debt instruments (FRNs) and counterfeit fractional coin - liable for excise tax on transactions (retail sales tax).

Private promissory notes, i.e. coupons : Not lawful money, and have 1/20 cent face value, but will act as a medium of exchange, to facilitate trade, and not subject to an excise tax. Denominated in goods and services, not money tokens.

The "Day After", folks will have to reset prices, if denominated in REAL dollars to sums about 1/1000 of current "dollar bill" to reflect the relative scarcity of real money.
But there will be a negotiable exchange of worthless notes (subject to taxation) as well as private commodity notes (coupons).

A 40,000 FRN Chevy Volt ==> $40 (2 ounces gold coin)
(Remember, the percapita share of Gold is less than 1/2 ounce!)

However, the equitable trade value of private promissory notes in reference to a Chevy Volt will resolve to something akin to total labor value and materials cost plus a reasonable profit margin. THAT will be the "NEW" way of establishing equitable trade, absent usury and variable money tokens.

For example, American auto makers, on average, consume 20.7 direct labor hours per vehicle.
For equitable trade, with a ten percent profit margin, would cost the customer about 23 labor hours.
Currently, labor costs are roughly 10% of the retail price. The remaining 90% is skewed by usury, and socialist taxation. For this thought experiment, we'll compromise and assume that labor accounts for 20% of the "adjusted" price.
Therefore the indirect labor costs for materials, research, design, etc, computes to 115 hours of equitable value trade.

In short, a highly skilled / highly productive laborer's note denominated in 115 hours (3 weeks) would trade for a shiny new automobile. For an unskilled / unproductive worker, the equitable trade may vary as much by a factor of 4 - over 400 hours (Ten weeks).

I think that illustrates the huge gap between what we pay, thanks to national socialism and usury overhead, and what we get for our undervalued labor.

It also shows how much equitable value that barter (and private notes) can account for, to our mutual enrichment and prosperity.

[P.S. - since the Federal government cannot object to the tender of their own notes, in tender for discharge of taxes, FRNs will have an important function - paying taxes. But when the government uses them to "buy" from the marketplace, their value may be FAR BELOW 1/1000 face value. In short, the buying power of the "Federal Budget", based on trillions of FRNs, may only be on the order of millions of real money. ]

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http://www.youtube.com/watch?v=s1UT2Ms5E2k&feature=player_embedded

http://www.youtube.com/watch?v=F9PSYkWIuIs&feature=player_embedded