Some very interesting pieces from this article:
Presidents Lincoln, Jackson, and Kennedy tried to stop this family of bankers by printing U.S. dollars without charging the taxpayers interest (Reference 4). Today, if the government runs a deficit, the FED prints dollars through the U.S. Treasury, buys the debt, and the dollars are circulated into the economy. In 1992, taxpayers paid the FED banking system $286 billion in interest on debt the FED purchased by printing money virtually cost free (Reference 12, P. 265). Forty percent of our personal federal income taxes goes to pay this interest. The FED's books are not open to the public. Congress has yet to audit it.
About the Federal Reserve banks, Rep. McFadden said, "They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; the rich and predatory money lenders. This is an era of economic misery and for the reasons that caused that misery, the Federal Reserve Board and the Federal Reserve banks are fully liable."
Rep. McFadden continued, "Every effort has been made by the Federal Reserve Board to conceal its power but the truth is the Federal Reserve Board has USURPED THE GOVERNMENT OF THE UNITED STATES. IT CONTROLS EVERYTHING HERE AND IT CONTROLS ALL OUR FOREIGN RELATIONS. IT MAKES AND BREAKS GOVERNMENTS AT WILL.
Currently all we do is exchange FED money (interest attached) for real U.S. money (interest-free) dollar for dollar as Kennedy tried to do. We should not be required to pay interest on our own currency. According to Benjamin Franklin, this was one of the primary reasons we fought the Revolutionary War. Today we are still fighting the same family of bankers (Reference 4, Reference 1, P. 211, 212).
Under the Federal Reserve Bank Act, the bankers control our economy. The FED controls interest rates and the amount of money in the economy. These factors determine either economic prosperity or the lack thereof. Bankers are now pushing for a one world government and a cashless society. Why cashless? No cash means no money for drugs, no theft, and the ability to collect taxes on the underground economy. Anyone who wouldn't support a cashless society must be a drug dealer, thief, or tax evader, right? What a cashless society really means is the banks can now control you. Today you fear the IRS. In a cashless society, if you disagree with the bankers' political goals, you'll find your money gone via computer error. (For additional information on a cashless society, read Reference 13, P. 174; Reference 3; Reference 14, P. 9-12; Reference 15, P. 136; Reference 25, P. 216).
Congress consistently defeats balanced budget amendments. In the past 30 years, Congress has raised our taxes 56 times and balanced the budget only once. We need the sound banking system our forefathers wanted us to have. History proves that banking systems like the FED don't work. Major world powers have been destroyed over similar banking systems (Reference 1). If we don't change this system NOW, in five years the only thing our taxes will pay is the interest on the national debt.
Section 7 of the Federal Reserve Act, passed December 23, 1913, states that much of the profit of the FED should flow into the U.S. Treasury. In 1959, new legislation allowed the FED to transfer bonds to commercial banks at no cost to the bank. Now the FED receives less interest income and less profit for the U.S. Treasury because the money is diverted to other banks through an accounting entry (Reference 17, P. 115-130). Congress and the IRS do not have access to the financial records of the FED. Every year Congress introduces legislation to audit the FED, and every year it is defeated. The FED banking system could easily be netting 100s of billions in profit each year. Through "creative accounting" profit can easily be reclassified as expense (Reference 14, P. 20, Reference 17, P. 239). Within the first few years, the shareholders of the FED received their initial investment back with no risk. All the income is tax-free, except for property tax, according to the Federal Reserve Act. When are the profits of the FED going to start flowing into the Treasury so that average Americans are no longer burdened with excessive, unnecessary taxes? Clearly, Congress cannot or will not control the FED. IT IS TIME TO ABOLISH IT!
By abolishing the FED, we would not pay interest on Federal Reserve Notes. Until it is abolished, the FED has a monopoly on profit on our currency and whether our money supply will be increased or decreased, inflation or depression. The banks are capable of controlling business by controlling who can or cannot obtain a loan.
"Allow me to control the issue and the nation's money and I care not who makes its laws!" The above quote has long been attributed to the 18th century banker Amshell Rothschild (his blood line controls the FED). For if one unscrupulous group is allowed to print a nation's money - it can eventually use that money to gain control of the press AND the politicians - and thus gain control of making the nation's laws - and finally - control of the nation itself. (Reference 4)
Congressman Patman re-quoted Thomas Jefferson showing that our founding fathers knew this banking principle very well. "I believe that banking institutions 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 money)," he said, "should be taken from the banks and restored to the people to whom it properly belongs." The American Revolution was a struggle to wrest control of wealth from the Bank of England and to restore the centers of power to the People where it "properly belongs." The Constitution is specific about the authority of the People, through their elected officials, to control the money, and thus, the affairs of their government. (Reference 5, P. 32).
Ben Franklin said in his autobiography that 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 [one of] the PRIME reason[s] for the Revolutionary War. (Quoted in Reference 4)
Thomas Jefferson stated, "If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered." (Reference 1, P. 247)
Congressman Charles A. Lindbergh of Minnesota said: "This [Federal Reserve] Act establishes the most gigantic trust on Earth. When the President [Wilson] signs this bill, the invisible government of the Monetary Power will be legalized... the worst legislative crime of the ages, perpetuated by this banking and currency bill." (Reference 5, P. 33)
Robert H. Hemphill (Credit Manager, Federal Reserve Bank in Atlanta): "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 [the banking problem] 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 are remedied very soon." (Reference 1, P. 247)
Napoleon, a sympathizer for the international bankers, turned against them in the last years of his rule. He said: "When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes... Money has no motherland; financiers are without patriotism and without decency; their sole object is gain." (Reference 4)
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ps. I may post another one these in a few minutes. (bartermania)
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