The first witness to be called is Abraham Lincoln. He warned, "I see in the near future a crisis approaching that unnerves me and cause me to tremble for safety of my country; corporations have been enthroned, an era of corruption in High Places will follow, and the Money Power of the country will endeavor to prolong its reign by working upon the prejudices of the People, until the wealth is aggregated in a few hands, and the Republic destroyed."
Congressman Wright Patman decared, "In the U.S. today, 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, operating the money powers which are reserved to congress by the Constitution."
Congressman Charles Lindbergh maintained, "Our financial system is a false one and a huge burden on the people . . . The Federal Reserve Act establishes the most gigantic trust on earth. When the President signs this bill, the invisible government of the monetary power will be legalized . . . The people must make a declaration of independence to relieve themselves from the Monetary Power . . . The worst legislative crime of the ages is perpetrated by this banking and currency bill. From now on, depressions will be scientifically planned and created . . . The people must make a declaration of independence to relieve themselves of from the Monetary Power . . . The present is the first scientifically one, worked out as we figure a mathematical problem."
In 1928, the House Hearings on the Stabilization of the Purchasing Power disclosed evidence the Federal Reserve was working closely with the heads of the European banks. The committee warned a major crash had been planned in 1927. HISTORY SPEAKS FOR ITSELF!
"This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." Robert H. Hemphill, former Credit Manager of Federal Reserve Bank, Atlanta, GA. (Senate Document No. 23, January 24, 1939)
"The Fed (Federal Reserve) was designed to have power over the treasury . . . it is NOT subservient to the Treasury Department - and never was." William McAdoo, Secretary of the Treasury in 1913.
"The Federal Reserve is answerable to no one . . . not even the president." President Reagan
"Monetary policy ought to be the responsibility of publicly accountable officials . . . not redelegated to an independent, self-perpetuating board [Board of Governors of the Federal Reserve] that is not accountable to anyone . . . All history shows that no society has been able to endure usury" Congressman Henry Gonzalez, Chairman of the Banking Committee
"The Bill (Federal Reserve Act) as it stands seems to me to open the way to a vast inflation of the currency. I do not like to think a law can be passed which will make it possible to submerge the GOLD-STANDARD in a flood of irredeemable paper currency." Congressman Henry Cabot Lodge
"When England paid us approximately $100,000,000 in gold the Treasury should have taken that gold . . . Instead, the gold was delivered to the private banks (Federal Reserve Banks) and the government given credit for the amount. The banks used a part of it as a base to issue considerable money, which they loaned to their customers, and the remainder, which was most of it, was sold back to England by the bankers . . . The gold that is given up by the people in the present crisis should be delivered to the government. It should be used to issue additional money upon which the people will not have to pay interest while it is in circulation." Congressman McGuGin (Congressional Record March 9, 1933)
"All the perplexities, confusion and distress in America arise not from defects in the Constitution or Confederation: not from want or honor or virtue, as much as the downright ignorance of the nature of coin and circulation." President John Adams
"Banking establishments are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. The issuing power of the money should be taken from the banks and returned to the people to whom it rightfully belongs." Thomas Jefferson
"Allow me to control and issue the nation's money and I care not who makes the laws." Amshell Rothschild (18th century banker)
"The monetary system of the U.S. and the major nations of the free world was established in 1694 by the Bank of England. This system subverts the legal and constitutional government and leads to socialism or fascism through favored corporate creation and control of the government's money and credit; directs the policies of government and holds in their hands the destiny of the people." Reginald McKenna, Chairman of the Board and President, Midlands Bank of England (National Economy and the Banking System, Senate Document, Vol. 3, No. 23, 76th Congress)
Isn't the Golden-Rule, he who has the gold makes the rules?
"Whoever controls the volume of money in any country is absolute master of all industry and commerce . . . When you realize that the entire system is easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate." President James A. Garfield
"They [the Federal Reserve] are the most avariciously predatory parasites upon a body politic in world history. The national bonded indebtedness is heavily held by the Fed. The process by which it acquires our bonds is not beyond understanding, but it is beyond belief." George E. Hiscott IV, Former Intelligent Officer
"People who will not turn a shovel full of dirt on the project (Muscle Shoal Dam) nor contribute a pound of material, will collect more money from the United States than will the People who supply all the material and do all the work. This is the terrible thing about interest . . . But here is the point: If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Constitution, pays nobody but those who contribute in some useful way. It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People. If the currency issued by the People were no good, then the bonds would be no good either. It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges at the hands of men who control the fictitious value of gold. Interest is the invention of Satan." Thomas A. Edison
"The fact is the greatest steal ever permitted by a legislative body in American history occurred with the passage of the Federal Reserve Act . . . The great unanswered question is, Why do we keep on in this camouflage and financial policy . . . Members including myself, who were aware of the dangers lurking in a bill of this kind could not bring ourselves to sell out the people of the United States in this subtle way." Congressman Shoemaker (73rd Congress, 2nd Session, May 1, 1934)
On July 18, 1974, before the House Banking Currency Committee, and just prior to being relieved from the position of President of the Federal Reserve Bank of St. Louis, Darrell R. Francis delivered this message to Committee members: "Since the direct method of printing money to finance government expenditures is prohibited in the United States Constitution, the monetization of government deficits has occurred indirectly. I can find no benefit accruing to the whole society from debt monetization, but the risks are very serious."
"The fact that bankers insist on defending their immoral fractional reserve money ratio system is the greatest crime on a worldwide scale against man and society." Rev. Charles Coughlin
"The Federal Reserve System, is a criminal conspiracy, the ill-gotten gains, this trillion dollar debt, a lien against all private property in the United States, obviously is a criminal act against the people of the United States." A. Roberts, Director Committee To Restore The Constitution (Idaho Senate State Affairs Committee, March 7, 1983)
"The banks have brought our country to the brink of ruin by the deliberate destruction of our monetary system through the fraudulent practice of fractional reserve banking." Anonymous
"In its 60 year history, 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 Patman (Congressional Record May 5, 1975)
Why hasn't the Federal Reserve ever been audited? Could it be that a total audit would reveal the vast amount of money that has been looted from the taxpayers?
"You are a den of VIPERS. I intend to rout you out and by the ETERNAL GOD I will rout you out . . . The bank is trying to kill me - but I will kill it. If the people only understood the rank injustice of our money system, there would be a revolution before morning." President Andrew Jackson
"History records that the MONEY-CHANGERS have used every form of abuse, intrigue, deceit and violent means possible to maintain their control over governments by controlling the money and its issuance." James Madison
"Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits." Sir Josiah Stamp, President of the Bank of England in the 1920.
"The modern Banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint and unmint the modern ledger-entry currency." Major L. B. Angas
During hearings of the House Banking Currency Committee, on September 30, 1941, Congressman Patman asked then Chairman of the Federal Reserve Board, Mr. Eccles the following questions:
Congressman Patman - "Mr. Eccles, how did you get the money to buy two billion dollars of government securities?"
Eccles - "We created it."
Congressman Patman - "Out of what?"
Eccles confessed - "Out of the right to issue credit money."
Congressman Wright Patman further declared, "The dollar represents a dollar debt to the Federal Reserve System. The Federal Reserve Board creates 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 . . . Which the American people are obligated to pay with interest." (House Banking Currency Committee, 1964)
"Banks lend by creating credit. They create the means of payment out of nothing." Ralph M. Hawtrey, Former Secretary of the British Treasury
"Banks hath the benefit of the interest on ALL monies that it creates out of nothing." William Patterson, Founder of the Bank of England
"The Federal Reserve is not an agency of the government, it is a private banking monopoly." Congressman John Rarick (Congressional Record February 1, 1971)
"What further proof do we need that the Fed is not an agency of the government than to understand that when the government needs money, the Fed does not merely create and print it as it would do were it a government agency. No the Fed creates it as a loan and charges the government interest on it . . . The Federal Reserve System is nothing more than a group of private banks which charge interest on money that never existed." Senator Jack Metcalf (National Conference of State Legislature, December 10, 1982)
"The Federal Reserve Bank is an institution owned by the stock holding member banks . . . The government [WE THE PEOPLE] has not a dollars worth of stock in it . . . From a legal standpoint these banks are private corporations under a special act of Congress, namely the Federal Reserve Act. They are not in the strict sense of the word Government banks." W.P.G. Harding, former Governor Federal Reserve 1921
"An act of war was perpetrated against U.S. citizens and their descendants on December 23, 1913. On this day of infamy a private banking cartel affected passage of the Federal Reserve Act, usurped the government and assumed control of the American destiny." Lt. Col. Archibald Roberts ("The Most Secret Science")
"The inability of the colonists to get the power to issue their own money permanently out of the hands of George III, and the international bankers was the PRIME reason for the REVOLUTIONARY WAR." Benjamin Franklin
"Federal Reserve Notes are not Dollars." Russell Munk, Assistant General Counsel, Department of the Treasury
"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 Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System." Frank Vanderbilt (Saturday Evening Post, Feb. 9, 1935)
"My agency in promoting the passage of the National Bank Act was the greatest financial mistake of my life. It has built up a monopoly which affects every interest in the country. It should be repealed, but before that can be accomplished, the people will be arrayed on one side and the bank on the other, in a contest such as we have never before seen in this country." Salmon Chase, former Secretary of the Treasury
"A great industrial Nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the Nation and all our activities, are in the hands of a few men. We have become to be one of the worst ruled, one of the most completely controlled and dominated Governments in the world - no longer a Government of free opinion, no longer a Government by conviction and vote of the majority, but a Government by the opinion and duress of small groups of dominate men . . . I have unwittingly ruined my country" President Woodrow Wilson (National Economy and the Banking System, Senate Documents, Col. 3 No. 23) [Editor's Note: The Federal Reserve Act was passed during his administration He is quoted by close friends and relatives as having said on his death bed, "I have betrayed my nation."]
"Money is the worst of all contraband. The money power preys upon the nation in times of peace, and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. It denounces, as public enemies, all who question its methods, or throw light upon its crimes. It can only be overthrown by the awakened conscience of the nation." William Jennings Bryan, former Secretary of Treasury
"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." Daniel Webster (Congressional Record, March 4, 1946)
"The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the United States since the days of Andrew Jackson." President Franklin Roosevelt
"This year, I authorized the issuance of United State Notes. They are the same appearance except for the heading at the top. The difference is that we pay interest to the Federal Reserve on their notes, whereas we pay no interest on United State Notes." President John Kennedy (He was assassinated 10 days later)
President Kennedy's Executive Order 11.110 called for the issuance of $4.2 billion in a new currency called United States Notes. These notes were interest free and debt free. They were issued through the U.S. Treasury. The first thing agent Lyndon B. Johnson did as President was to revoke Kennedy's executive order. Could this be the primary cause of President Kennedy's assassination?
"Capital [traitors] must protect itself in every way, through combination and through legislation. Debts must be collected and loans and mortgages foreclosed on as soon as possible. When, through a process of law, the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law, applied by the central power of wealth, under control of the leading financiers. People without homes will not quarrel with their leaders. This is well known among our principal men now engaged in forming imperialism of capital to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd." (Civil Servant's Handbook, "The Organizers" Jan. 1934)
"Those influences and individuals most responsible for the direful conditions through which we are now passing have resisted us at every point. We have been ridiculed and abused by the money changers whose misconduct produced this terrible panic, with all its misery, its poverty, its hunger, its human suffering and human distress. `Whatsoever man soweth, that he shall also reap'. The very ones who sowed the seeds of this panic are now reaping the fruits of their own misconduct as they see their monetary Tower of Babel crash amid a confusion of tongues." Congressman Rankin (Congressional Record, March 9, 1993)
"We have stricken the shackles from four million human beings and brought all laborers to a common level, not so much by the elevation of the former slaves as much as by practically reducing the whole working population, white and black, to a condition of serfdom. While boasting of our noble deeds we are careful to conceal the ugly fact that by our iniquitous money system we have nationalized a system of oppression which, though more refined, is not less cruel than the old system of chattel slavery." Horace Greely
"Congress sold out our nation to private bankers." Rev. Casimir Frank Glerut ("Repeal the Federal Reserve Bank, Pandora's Box of Criminal Acts")
Congressman Louis McFadden, former Chairman of the House Banking and Currency Committee, and one of the strongest critics of the Federal Reserve had this to say, "The Federal Reserve Banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this Nation is run by the International Bankers . . . They have cheated the government of the United States and the people out of enough money to pay the national debt. This evil institution has impoverished and ruined the people of the United States and has practically bankrupted our government . . . The depression was not an accident, it was a carefully contrived occurrence. The International Bankers sought to bring about a condition of despair here so that they might emerge as ruler of us all . . . every effort has been made by the Fed to conceal its power but the truth is - - the Fed has usurped the government. It controls everything in Congress and it controls all foreign relations. It makes and breaks governments at will . . . The Federal Reserve has never been independently audited and have resisted all attempts to be audited."
On May 23, 1933, Congressman McFadden, brought impeachment charges against members of the Federal Reserve Board and the heads of the 12 member banks. He said, "Whereas, I charge them jointly and severally with having brought about a repudiation of the national currency of the United States in order that the gold value of said currency might be given to private interest . . .
I charge them with having arbitrarily and unlawfully of taking $80 billion from the United States in 1928 . . .
I charge them with having brought about a decline in the prices on the N.Y. Stock Exchange . . .
I charge them with having arbitrarily and unlawfully raised and lowered interest rates on money. Increased and diminished the volume of currency in circulation for the benefit of private interest . . .
I charge them with having conspired to concentrate United States securities and thus having conspired to transfer to foreigners and international money lenders title to and control of the financial resources of the United States . . .
I charge them with having published false and misleading propaganda intended to deceive the American people and to cause the United States to lose its independence . . .
I charge them with the crime of having TREASONABLY conspired and acted against the peace and security of the U.S."
Congressman McFadden's shocking indictment was moved to the Committee of the Judiciary. It still awaits reporting (61 years later) to the House floor to impeach both former and present members of the Board of Governors and the Federal Reserve Banks for criminal conspiracy against We The People of the United States of America.
"By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." John Maynard Keynes