“Secret negotiations established a banking cartel. It’s grown ever stronger through the years.” It operates “independently.”
“Rather than preventing financial crises, it precipitates new ones.”
“We know Fed policy continues to reap profits for Wall Street while impoverishing Main Street.”
“One hundred years is long enough. End the Fed.” – Ron Paul
It is important for Investors and Citizens in General to know why, in the Midst of an Ostensible Economic Recovery, Middle Class Impoverishment continues, while Insiders well-connected to the Banking Cartel flourish.
The Answers, including Opportunities for Profit and Wealth Protection, lie in an examination of Highlights of the History and Policies of the Private for-Profit Federal Reserve on its 100th Anniversary this December, 2013. Consider:
Submitted by Deepcaster:
“The Federal Reserve Act was passed in 1913 in response to a wave of bank crises, which had hit on average every six years over a period of 80 years. The resulting economic depressions triggered a populist movement for monetary reform in the 1890s. Mary Ellen Lease, an early populist leader, said in a fiery speech that could have been written today:
“Wall Street owns the country. It is no longer a government of the people, by the people, and for the people, but a government of Wall Street, by Wall Street, and for Wall Street…
“We want money, land and transportation. We want the abolition of the National Banks, and we want the power to make loans direct from the government…
“…the Federal Reserve Act that they got was not what the populists had fought for, or what their leader William Jennings Bryan thought he was approving when he voted for it in 1913…
“What Bryan and the populists sought was a national currency issued debt-free and interest-free by the government, on the model of Lincoln’s Greenbacks. What the American people got was a money supply created by private banks as credit (or debt) lent to the government and the people at interest…
“The new system was supposed to prevent bank runs, but it clearly failed in that endeavor. In 1929, the United States experienced the worst bank run in its history…
“The New York Fed had been pouring newly-created money into New York banks, which then lent it to stock speculators… precipitating the 1929 stock market crash…
“The result was widespread unemployment and loss of homes and savings, similar to that seen today. In a scathing indictment before Congress in 1934, Representative Louis McFadden blamed the Federal Reserve. He said:
“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…
“The depredations and iniquities of the Fed has cost enough money to pay the National debt several times over. . . .
“Some people think that the Federal Reserve Banks are 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 lenders.
“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.”
“100 Years Is Enough: Time to Make the Fed a Public Utility”
Ellen Brown, lemetropolecafe.com, 12/22/13
Congressman McFadden was “rewarded” for his Courage with 3 Assassination Attempts, the third of which was reportedly successful.
Stephen Lendman describes Connection between the Federal Reserve Act and the enactment of the Federal income Tax.
“ ‘In plain English, the Federal Reserve Act (FSA) authorized a private central bank to create money out of nothing, lend it to the government at interest, and control the nation’s money supply, expanding or contracting it at will.’
“Weeks before FSA was enacted, the 1913 Revenue Act became law. It imposed a federal income tax. It did so to pay bankers interest on America’s money. It let taxpayers do it.”
“ ‘One hundred years is long enough. End the Fed.’ Put money power back in public hands where it belongs!”
Stephen Lendman, veteransnewsnow.com, 12/23/13
Lendman also describes how the Act was born in Secrecy and how the Machinations of The Fed remain Secret to this very day.
“In 1910, seven powerful figures met secretly. They did so on Jekll Island. Nelson Aldrich and Frank Valderclip represented Rockefeller financial interests.
“Charles Norton and Benjamin Strong represented JP Morgan. Paul Warburg represented Rothschild family interests. No one represented popular ones.
“Rockefeller/Morgan/Rothschild representatives planned the Federal Reserve System.”
And he goes on to describe how the Act is arguably Unconstitutional.
“Doing so violated the Constitution’s Article I, Section 8. It affords Congress sole power to coin (create) money and regulate the value thereof.
“In 1935, the Supreme Court ruled Congress can’t constitutionally delegate its authority to another body or group.
“Congress and Wilson defrauded the public. They did so by granting Wall Street money creation power. They gave powerful bankers absolute monetary control.
“US and world economies changed. They did so for the worst.”
It is thus understandable why one of the United States’ Founders, Thomas Jefferson, warned
“I sincerely 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 should be taken from the banks and restored to the people to whom it properly belongs.”
Lendman goes on to Warn of the International Banking Cartel’s Apparent Goal.
“The Fed isn’t federal. It has no reserves. It’s one of four dominant central banks. Others include the Bank of England, ECB, and Bank of Japan.
“The Basel, Switzerland-based Bank of International Settlements (BIS) functions as a central bank for central bankers.
“It’s an unaccountable boss of bosses. It’s final solution plan calls for establishing a global currency it controls. Achieving it assures ultimate money power.”
And Lendman describes the Consequences of Mega-Banker Control of the World’s Economy.
“Fed policy caused booms, busts, inflation, deflation, instability, crises, and today’s protracted Main Street Depression.
“Growing poverty, unemployment, underemployment, homelessness, hunger and human misery reflect it. Money power in private hands is responsible for:
- economic instability;
- wrecking world economies for profit;
- waging wars for it;
- rising consumer debt;
- record budget and trade deficits;
- an out-of-control national debt;
- record numbers of business and personal bankruptcies;
- millions of home foreclosures;
- loss of America’s manufacturing base; and
- an unprecedented wealth gap between America’s privileged class and all others.”
No wonder then that G. Edward Griffin in his Definitive Classic aptly named The Fed “The Creature”, The Creature from Jekyll Island: A Second Look at The Federal Reserve.
But an important Guide we take from The Fed and its Mega-Bank Allies to Date, is that they will continue their Monetary Inflation (QE) indefinitely to maintain and enhance Power.
How can the Fed keep rates “low for a long time” as it recently promised, if QE is not continued in some form or another indefinitely?
For Profit and Wealth Protection we can infer and benefit if we are prepared for:
- Monetary Inflation (of the $US and other Major Fiat Currencies) continuing, with all the consequent Opportunities we have described in our Alerts for Profit and Wealth Protection, and
- The $US Purchasing Power is being destroyed by The Fed with one consequence being that at some point soon it will no longer serve as the World’s Reserve Currency. Already China has entered into Bilateral Yuan Currency Swap Deals with Major Nations. And as the World’s largest Gold Producer and Importer it is preparing to back the Yuan with Gold.
- Another Financial Crisis and Market Crash is therefore on the Agenda and
- US Treasury Bonds are The Greatest Financial Bubble in History both because the U.S. is the largest Debtor Nation in History and because the Bonds are denominated in a deteriorating (thanks to the Fed) Fiat Currency – a Bubble is destined to pop.
Best regards, Deepcaster