To the Federal Reserve: Happy 100th Birthday
On December 23, 1913 the Federal Reserve Act was passed, creating the Federal Reserve. The Federal Reserve Act (ch. 6, 38 Stat. 251, 12 U.S.C. ch. 3) was an Act of Congress that created and set up the Federal Reserve System, the central banking system of the United States of America, and granted it the legal authority to issue Federal Reserve Notes, now commonly known as the US Dollar, and Federal Reserve Bank Notes as legal tender. The Act was signed into law by President Woodrow Wilson.
Since that time the Federal Reserve has held tremendous sway over the US economy, especially Wall Street.
Robert H. Hamphill, Atlanta Federal Reserve Bank notes, “We are completely dependant 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 … 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.”
Here are some notable quotes about the Federal Reserve:
“The few who understand the system, will either be so interested from it’s profits or so dependant on it’s favors, that there will be no opposition from that class.” — Rothschild Brothers of London, 1863
“Give me control of a nation’s money and I care not who makes it’s laws” — Mayer Amschel Bauer Rothschild
“Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States” — Sen. Barry Goldwater (Rep. AR)
“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 is perpetrated by this banking and currency bill.” — Charles A. Lindbergh, Sr., 1913
“From now on, depressions will be scientifically created.” — Congressman Charles A. Lindbergh Sr., 1913
“The financial system has been turned over to the Federal Reserve Board. That Board as ministers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money” — Charles A. Lindbergh Sr., 1923
“The Federal Reserve bank buys government bonds without one penny…” — Congressman Wright Patman, Congressional Record, Sept 30, 1941
“We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it”. — Congressman Louis T. McFadden in 1932 (Rep. PA)
“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” — Congressman Louis T. McFadden (Rep. PA)
“Some people think the Federal Reserve Banks are the United States government’s institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers” — Congressional Record 12595-12603 — Louis T. McFadden, Chairman of the Committee on Banking and Currency (12 years) June 10, 1932
“I have never seen more Senators express discontent with their jobs….I think the major cause is that, deep down in our hearts, we have been accomplices in doing something terrible and unforgivable to our wonderful country. Deep down in our heart, we know that we have given our children a legacy of bankruptcy. We have defrauded our country to get ourselves elected.” — John Danforth (R-Mo)
“These 12 corporations together cover the whole country and monopolize and use for private gain every dollar of the public currency…” — Mr. Crozier of Cincinnati, before Senate Banking and Currency Committee – 1913
“The [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 that any law can be passed that will make it possible to submerge the gold standard in a flood of irredeemable paper currency.” — Henry Cabot Lodge Sr., 1913
Below is a graph of the purchasing power of the US dollar since the creation of the Federal Reserve:
Happy birthday Federal Reserve, printing money like there is no tomorrow.
