The Ultimate "Federal" Reserve thread

[JumpInTheFire]

Educate Yourself




Congressman McFadden
on the Federal Reserve Corporation
Remarks in Congress, 1934
AN ASTOUNDING EXPOSURE

Source: The Federal Reserve: An Astounding Exposure 1934

Congressman McFadden's Speech
On the Federal Reserve Corporation

Quotations from several speeches made on the Floor of the House of Representatives by the Honorable Louis T. McFadden of Pennsylvania. Mr. McFadden, due to his having served as Chairman of the Banking and Currency Committee for more than 10 years, was the best posted man on these matters in America and was in a position to speak with authority of the vast ramifications of this gigantic private credit monopoly. As Representative of a State which was among the first to declare its freedom from foreign money tyrants it is fitting that Pennsylvania, the cradle of liberty, be again given the credit for producing a son that was not afraid to hurl defiance in the face of the money-bund. Whereas Mr. McFadden was elected to the high office on both the Democratic and Republican tickets, there can be no accusation of partisanship lodged against him. Because these speeches are set out in full in the Congressional Record, they carry weight that no amount of condemnation on the part of private individuals could hope to carry.

The Federal Reserve-A Corrupt Institution

"Mr. Chairman, we have in this Country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the Fed. The Fed has cheated the Government of these United States and the people of the United States out of enough money to pay the Nation's debt. The depredations and iniquities of the Fed has cost enough money to pay the National debt several times over.

"This evil institution has impoverished and ruined the people of these United States, has bankrupted itself, and has practically bankrupted our Government. It has done this through the defects of the law under which it operates, through the maladministration of that law by the Fed and through the corrupt practices of the moneyed vultures who control it.

"Some people who think that the Federal Reserve Banks United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lender. In that dark crew of financial pirates there are those who would cut a man's throat to get a dollar out of his pocket; there are those who send money into states to buy votes to control our legislatures; there are those who maintain International propaganda for the purpose of deceiving us into granting of new concessions which will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime.

"These twelve private credit monopolies were deceitfully and disloyally foisted upon this Country by the bankers who came here from Europe and repaid us our hospitality by undermining our American institutions. Those bankers took money out of this Country to finance Japan in a war against Russia. They created a reign of terror in Russia with our money in order to help that war along. They instigated the separate peace between Germany and Russia, and thus drove a wedge between the allies in World War. They financed Trotsky's passage from New York to Russia so that he might assist in the destruction of the Russian Empire. They fomented and instigated the Russian Revolution, and placed a large fund of American dollars at Trotsky's disposal in one of their branch banks in Sweden so that through him Russian homes might be thoroughly broken up and Russian children flung far and wide from their natural protectors. They have since begun breaking up of American homes and the dispersal of American children. "Mr. Chairman, there should be no partisanship in matters concerning banking and currency affairs in this Country, and I do not speak with any.

"In 1912 the National Monetary Association, under the chairmanship of the late Senator Nelson W. Aldrich, made a report and presented a vicious bill called the National Reserve Association bill. This bill is usually spoken of as the Aldrich bill. Senator Aldrich did not write the Aldrich bill. He was the tool, if not the accomplice, of the European bankers who for nearly twenty years had been scheming to set up a central bank in this Country and who in 1912 has spent and were continuing to spend vast sums of money to accomplish their purpose.

"We were opposed to the Aldrich plan for a central bank. The men who rule the Democratic Party then promised the people that if they were returned to power there would be no central bank established here while they held the reigns of government. Thirteen months later that promise was broken, and the Wilson administration, under the tutelage of those sinister Wall Street figures who stood behind Colonel House, established here in our free Country the worm-eaten monarchical institution of the "King's Bank" to control us from the top downward, and from the cradle to the grave.

"The Federal Reserve Bank destroyed our old and characteristic way of doing business. It discriminated against our 1-name commercial paper, the finest in the world, and it set up the antiquated 2-name paper, which is the present curse of this Country and which wrecked every country which has ever given it scope; it fastened down upon the Country the very tyranny from which the framers of the Constitution sough to save us.

The Constitution:
Article 1, Section 8 of the Constitution states that Congress shall have the power to create money and regulate the value thereof.

- Yet we allow a "federal" reserve (central bank) run and owned by international private bankers to CHARGE US INTEREST on our own money? niiice.




VIDEOS ON THE FEDERAL RESERVE AND ECONOMIC POLICIES:

Money, Banking and the Federal Reserve

Money, Banking and the Federal Reserve

FIAT EMPIRE - Why the Federal Reserve Violates the U.S. Constitution

FIAT EMPIRE - Why the Federal Reserve Violates the U.S. Constitution

Monopoly Men (Federal Reserve Fraud)

Monopoly Men (Federal Reserve Fraud) (1999)

Zeitgeist - The Movie: Federal Reserve

YouTube - Zeitgeist - The Movie: Federal Reserve (Part 1 of 5)

Ron Paul on Federal Reserve, banking and economy

YouTube - Ron Paul on Federal Reserve, banking and economy

Masters Of The Universe-The Secret Birth Of The Federal Reserve

Masters Of The Universe-The Secret Birth Of The Federal Reserve

History of the Federal Reserve (Money Masters)

History of the Federal Reserve (Money Masters)

Corrupt Federal Reserve - Robbing Americans Since 1913

YouTube - Corrupt Federal Reserve - Robbing Americans Since 1913 [1/3]

The truth about the Federal Reserve System

The truth about the Federal Reserve System

FEDERAL RESERVE WEBSITES:

Federal Reserve Committe Members (Official Site)
FRB: Monetary Policy


The Federal Reserve Fraud
Corrupt government, conspiracy, new world order, no future.


Secrets Of The Federal Reserve
Secrets of the Federal Reserve

[Brother of Yeshua]

Thank you for that speech. I was thinking of it the other day, but could not remember who made it.

I don't think I've seen all of these. Monopoly Men is a pretty good one though. Very very long, about 3 hours. I had to watch it in a few sittings.

[rightwinger]

Debunking Federal Reserve Conspiracy Theories

Also. Not sure if that site covers it, but the Fed does not print the money.

[Ristaron]

Originally Posted by rightwinger

Debunking Federal Reserve Conspiracy Theories

Also. Not sure if that site covers it, but the Fed does not print the money.

I'm terribly sorry to say this, but for all the propaganda going about I am disappointed that this is all you could come up with to support your argument. JumpInTheFire has provided a number of sources, all of them well-versed in economics and the financial history of the United States. What you present is one PhD's shallow research, which was undoubtedly from mainly government sources.

Well, here's the danger with government sources: they only let you see so much. In Aaron Russo's movie America: Freedom to Fascism, he went to the government for answers. What happened? He was turned away from supposedly public areas, was only able to meet with one government official who said outright that the people didn't deserve the rights the Constitution awarded, and presented with dead-end leads from all the government contacts. He succeeded, in spite of their efforts, to uncover that the United States had never ratified the 16th Amendment (the Income Tax) and that the Federal Reserve was a private organization with its own private army (the IRS).

Aaron Russo's movie was but one in a long succession of films that told the shocking truth about the dire straights that the United States are in. I find it hard to believe that you could have watched all those movies that JumpInTheFire took the time to present, and still only come up with one single source to support your argument, let alone hold to the position yourself. I'm disappointed.

[rightwinger]

I'm terribly sorry to say this, but for all the propaganda going about I am disappointed that this is all you could come up with to support your argument.

That's not all I can come up with. It's all I did for the purposes of this forum. That link is concise, thorough, easy to understand, and written by a person with a PHD in economics.

Quality. Not quantity.

JumpInTheFire has provided a number of sources, all of them well-versed in economics and the financial history of the United States

I'm a simple man. I'm more of a "one thing at a time" type of fella.

What you present is one PhD's shallow research, which was undoubtedly from mainly government sources.

I'll tell you what I said in the other thread. Call any economics dept. of any university. Ask them what they think of getting rid of the Fed.

Aaron Russo's movie was but one in a long succession of films that told the shocking truth about the dire straights that the United States are in. I find it hard to believe that you could have watched all those movies that JumpInTheFire took the time to present

I didn't. I have watched a few of them no. Not when he posted, but in previous viewings.

and still only come up with one single source to support your argument, let alone hold to the position yourself. I'm disappointed.

Sorry to have disappointed you.

I'd like to add a note. I didn't post my link to try and start any kind of great debate on this subject. I just wanted to balance the tables a bit. Echo chambers aren't good. And this forum seems to be one.

[Static]

In the link you provided RW, it said nearly all the interest the fed collects gets rebated back into the treasury every year. How does this work if the national debt has been on a steady increase?



When the expenses of the U.S. Government exceed the revenue collected, it issues new debt to cover the deficit. This debt typically takes the form of new issues of government bonds which are sold on the open market. However, the debt can also be monetized by which the Federal Reserve creates an entry on its books to credit the US Government for an amount equal to the dollar amount of the bonds the Federal Reserve is acquiring. The money created in this process not only includes the new dollars that came into existence just to purchase the bonds, but much more because this new money is now sitting in the form of checkbook money at the Federal Reserve. Under the scheme of Fractional Reserve Banking this new checkbook money is treated as an asset to lend against. Economists estimate the expansion of the money supply as being many times the amount of the initial money created with the exact amount being a function of what percentage of deposits banks must set aside as "reserves".

[rightwinger]

In the link you provided RW, it said nearly all the interest the fed collects gets rebated back into the treasury every year. How does this work if the national debt has been on a steady increase?

I don't really understand your question....this is from my link though:

The Federal Reserve banks have only a small share of the total national debt (about 7%). Therefore, only a small share of the interest on the debt goes to the Fed. Regardless, the Fed rebates that interest to the Treasury every year, so the debt held by the Fed carries no net interest obligation for the government. In addition, it is Congress, not the Federal Reserve, who is responsible for the federal budget and the national debt.

I would guess that as the debt goes up, the interest goes up.

And when you post something word for word from another source, you should put it in quotes.

I don't know enough about economics yet to really debate this stuff like I know what I'm talking about. My specialty is 9-11 conspiracy theories, as those are the one's I've read up on.

Most of the Fed Reserve conspiracy theories seem like bull shit to me. And the economics people I've talked to...seem to agree with that. I asked my professor a few questions about the Fed, that conspiracy theorists always talk about...

And usually the Fed conspiracy theorists, run along side the 9-11 conspiracy theorists...which run into the larger "illuminati" type stuff, which also leads to the "international bankers" (Jews) stuff which all just seems like bs to me.

[Static]

yeah, my bad, that was a direct quote from wiki again. I'll put info like that in quotes next time.

So since the debt is so huge right now, the interest is racking up fast, making the debt larger, right? So why don't we do something to face this problem, instead of just doing the same thing over and over again, eventually the problem will get so big we will be unable to stop it.

As far as the fed goes, I see it as a problem, it's like a giant with a slit wrist, sure he's big and tough up front and on the surface, but eventually the bastard will fall down and bleed to death... and in this case, it's like the giant slit his own wrists.

We need to stop the bleeding.

[rightwinger]

So since the debt is so huge right now, the interest is racking up fast, making the debt larger, right?

Not from the Fed.

So why don't we do something to face this problem, instead of just doing the same thing over and over again, eventually the problem will get so big we will be unable to stop it.

About the debt? I agree. It's a problem. Not caused, and not compounded by the Fed though. At least, to my understanding.

eventually the problem will get so big we will be unable to stop it.

We were working on it Under Clinton. Under Bush, it didn't go so well....being the 1st leader in the history of the world, to cut taxes during war time....but it has been going down. (deficit, not the debt)

As far as the fed goes, I see it as a problem

What would you have instead?

[Static]

Good question, unfortunately I'm not educated enough in that field to give a good response.

I would say put someone in charge of the job of figuring out how we should deal with it who knows what they're doing and never accept the 'incompetence' card as an excuse for huge fuck ups, and let the guy know that from the start.