- There will be a lame-duck congressional session coming
up soon, to address the real problems facing millions of Americans, as
we struggle with our thoroughly corrupted financial nightmare. At the
core of this raging irresponsibility is The Federal Reserve Bank: Especially
its policies and current practices.
- "The privately owned Federal Reserve (FED) banks
actually issue (create) the "money" we use. In 1964, the House
Committee on Banking and Currency, Subcommittee on Domestic Finance, at
the second session of the 88th Congress, put out a study entitled Money
Facts which contains a good description of what the FED is: "The
Federal Reserve is a total money-making machine. It can issue money or
checks. And it never has a problem of making its checks good because it
can obtain the $5 and $10 bills necessary to cover its check simply by
asking the Treasury Department's Bureau of Engraving to print them".
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- Any one person or any closely knit group who has a lot
of money has a lot of power. Now imagine a group of people who have the
power to create money. Imagine the power these people would have. This
is exactly what the privately owned FED is!
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- No man did more to expose the power of the FED than Louis
T. McFadden, who was the Chairman of the House Banking Committee back
in the 1930s. In describing the FED, he remarked in the Congressional
Record, House pages 1295 and 1296 on June 10, 1932:
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- "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 Federal Reserve Board,
a Government Board, has cheated the Government of the United States and
he people of the United States out of enough money to pay the national
debt. The depredations and the iniquities of the Federal Reserve Board
and the Federal Reserve banks acting together have cost this country enough
money to pay the national debt several times over. This evil institution
has impoverished and ruined the people of the United States; has bankrupted
itself, and has practically bankrupted our Government. It has done this
through the maladministration of that law by which the Federal Reserve
Board, and through the corrupt practices of the moneyed vultures who
control it".
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- Some people think the Federal Reserve Banks are United
States Government institutions. They are not Government institutions,
departments, or agencies. They are private credit monopolies which prey
upon the people of the United States for the benefit of themselves and
their foreign customers. Those 12 private credit monopolies were deceitfully
placed upon this country by bankers who came here from Europe and who
repaid us for our hospitality by undermining our American institutions.
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- The FED basically works like this: The government granted
its power to create money to the FED banks. They create money, then loan
it back to the government charging interest. The government levies income
taxes to pay the interest on the debt. On this point, it's interesting
to note that the Federal Reserve Act and the sixteenth amendment, which
gave congress the power to collect income taxes, were both passed in 1913.
The incredible power of the FED over the economy is universally admitted.
Some people, especially in the banking and academic communities, even
support it. On the other hand, there are those, such as President John
Fitzgerald Kennedy, that have spoken out against it. His efforts were
spoken about in Jim Marrs' 1990 book Crossfire:"
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- Thanks to JFK, there is an amendment, still on the books,
that would take back control over the printing of US money; from the
Federal Reserve Banks and restore that power to the people of the United
States.
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- "On June 4, 1963, a virtually unknown Presidential
decree, Executive Order 11110, was signed with the authority to basically
strip the Federal Reserve Bank of its power to loan money to the United
States Federal Government at interest. With the stroke of a pen, President
Kennedy declared that the privately owned Federal Reserve Bank would soon
be out of business. The Christian Law Fellowship has exhaustively researched
this matter through the Federal Register and Library of Congress. We can
now safely conclude that this Executive Order has never been repealed,
amended, or superseded by any subsequent Executive Order. In simple terms,
it is still valid." (1)
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- Why not start a grassroots internet demand of Congress
to Enact the Kennedy Amendment he issued in Executive Order 11110. This
act alone could begin to restore financial order and fiscal responsibility
to this nation and to its system of currency at this time when we are
threatened with a total collapse unless something major is done to prevent
that.
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- kirwanstudios@sbcglobal.net
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- 1) John F Kennedy vs The Federal Reserve
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- http://www.john-f-kennedy.net/thefederalreserve.htm
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