March 16, 2009

Banking and the Federal Reserve

The Council on Foreign Relations (CFR) and The New World Order

- By William Blase

For those who may be confused by the controversies surrounding the "New World Order", a One-World-Government, and American concern over giving the UN more power; those unaware of the issues involved; and those wishing more background, I offer the following. ...

 

...The Bank of the United States (1816-36), an early attempt at an American central bank, was abolished by President Andrew Jackson, who believed that it threatened the nation. He wrote: "The bold effort the present bank had made to control the government, the distress it had wantonly produced...are but premonitions of the fate that awaits the American people should they be deluded into a perpetuation of this institution or the establishment of another like it."

Thomas Jefferson wrote: "The Central Bank is an institution of the most deadly hostility existing against the principles and form of our Constitution...if the American people allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."

Does that not describe the situation in America today?

The U.S. managed to do without a central bank until early in this century, when, according to Congressman Charles Lindbergh, Sr., "The Money Trust caused the 1907 panic, and thereby forced Congress to create a National Monetary Commission." Headed by Senator Nelson Aldrich, father-in-law of John D. Rockefeller, Jr., the Commission recommended creation of a central bank.

Though unconstitutional, as only "The Congress shall have Power...To coin Money, regulate the Value thereof..." (Article I, Section 8, U.S. Constitution) the Federal Reserve Act was passed in December 1913; ostensibly to stabilize the economy and prevent further panics, but as Lindberg warned Congress: "This act establishes the most gigantic trust on earth...the invisible government by the money power, proven to exist by the Money Trust investigation, will be legalized." The Great Depression and numerous recessions later, it is obvious the Federal Reserve produces inflation and federal debt whenever it desires, but not stability.

Congressman Louis McFadden, House Committee on Banking and Currency Chairman (1920-31), stated: "When the Federal Reserve Act was passed, the people of these United States did not perceive that a world banking system was being set up here. A super-state controlled by international bankers and industrialists...acting together to enslave the world...Every effort has been made by the Fed to conceal its powers but the truth is--the Fed has usurped the government."

Although called "Federal," the Federal Reserve system is privately owned by member banks, makes its own policies, and is not subject to oversight by Congress or the President. As the overseer and supplier of reserves, the Fed gave banks access to public funds, which enhanced their lending capacity.

Peter Kershaw, in "Economic Solutions" lists the ten major shareholders of the Federal Reserve Bank System as: Rothschild: London and Berlin; Lazard Bros: Paris; Israel Seiff: Italy; Kuhn- Loeb Company: Germany; Warburg: Hamburg and Amsterdam; Lehman Bros: New York; Goldman and Sachs: New York; Rockefeller: New York. (That most, if not all of these families just happen to be Jewish, you may judge the significance of yourself). The balance of stock is owned by major commercial member banks.

According to Devvy Kidd, "Why A Bankrupt America?" The Federal Reserve pays the Bureau of Engraving & Printing approximately $23 for each 1,000 notes printed. 10,000 $100 notes (one million dollars) would thus cost the Federal Reserve $230. They then secure a pledge of collateral equal to the face value from the U.S. government. The collateral is our land, labor, and assets... collected by their agents, the IRS. By authorizing the Fed to regulate and create money (and thus inflation), Congress gave private banks power to create profits at will.

As Lindberg put it: "The new law will create inflation whenever the trusts want inflation...they can unload the stocks on the people at high prices during the excitement and then bring on a panic and buy them back at low prices...the day of reckoning is only a few years removed." That day came in 1929, with the Stock Market crash and Great Depression.

One of the most important powers given to the Fed was the right to buy and sell government securities, and provide loans to member banks so they might also purchase them. This provided another built-in mechanism for profit to the banks, if government debt was increased. All that was needed was a method to pay off the debt. This was accomplished through the passage of the income tax in 1913.

A national income tax was declared unconstitutional in 1895 by the Supreme Court, so a constitutional amendment was proposed in Congress by none other than ...Senator Nelson Aldrich. As presented to the American people it seemed reasonable enough: income tax on only one percent of income under $20,000, with the assurance that it would never increase.

Since it was graduated, the tax would "soak the rich", ...but the rich had other plans, already devising a method of protecting wealth. As described by Gary Allen in his 1976 book "The Rockefeller File," "By the time the (16th) Amendment had been approved by the states, the Rockefeller Foundation was in full operation...about the same time that Judge Kenesaw Landis was ordering the breakup of the Standard Oil monopoly...John D...not only avoided taxes by creating four great tax-exempt foundations; he used them as repositories for his 'divested' interests...made his assets non-taxable so that they might be passed down through generations without...estate and gift taxes...Each year the Rockefellers can dump up to half their incomes into their pet foundations and deduct the "donations" from their income tax."

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