Federal Reserve System, ..part 3

Congress has yet to audit it. Congressman Wright Patman was Chairman of the House of Representatives Committee on Banking and Currency for 40 years. For 20 of those years, he introduced legislation to repeal the Federal Reserve Banking Act of 1913.

Congressman Henry Gonzales, Chairman of a banking committee, introduces legislation to repeal the Federal Reserve Banking Act of 1913 nearly every year. It’s always defeated, the media remains silent, and the public never learns the truth. The same bankers who own the FED control the media and give huge political contributions to sympathetic members of Congress (Reference 12, P. 155-163, Reference 22, P. 158, 159, 166).

THE FED FEARS THE POPULATION WILL BECOME AWARE OF THIS FRAUD AND DEMAND CHANGE.

We, the People, are at fault for being passive and allowing this to continue. Rep. Louis T. McFadden (R. Pa.) rose from office boy to become cashier and then President of the First National Bank in Canton Ohio. For 12 years he served as Chairman of the Committee on Banking and Currency, making him one of the foremost financial authorities in America. He fought continuously for fiscal integrity and a return to constitutional government (Reference 1).

(Sidebar): Louis Thomas McFadden (July 25, 1876 – October 1, 1936) was a Republican member of the U.S. House of Representatives from Pennsylvania.

In 1914, McFadden was elected as a Republican Representative to the Sixty-fourth Congress and to the nine succeeding Congresses. He served as Chairman of the United States House Committee on Banking and Currency during the Sixty-sixth through Seventy-first Congresses, or 1920-31. Though re-elected without opposition in 1932, in 1934 he lost to the Democratic nominee. He was an unsuccessful candidate for nomination in 1936.

McFadden’s main official legacy was the working on and the passing of the McFadden Act of 1927 limiting federal branch banks to the city in which the main branch operates. The Act sought to give national banks competitive equality with state-chartered banks by letting national banks branch to the extent permitted by state law. The McFadden Act specifically prohibited interstate branching by allowing national banks to branch only within the state in which it is situated. Although the Riegel-Neal Interstate Banking and Branching Efficiency Act of 1994 repealed this provision of the McFadden Act, it specified that state law continues to control intrastate branching, or branching within a state’s borders, for both state and national banks.

McFadden is also remembered as a “vociferous foe of the Federal Reserve,” which he claimed was created and operated by European banking interests who conspired to economically control the United States.

On June 10, 1932, McFadden made a 25-minute speech before the House of Representatives, in which he accused the Federal Reserve of deliberately causing the Great Depression.

McFadden also claimed that Wall Street bankers funded the Bolshevik Revolution through the Federal Reserve banks and the European central banks with which it cooperated.

McFadden moved to impeach President Herbert Hoover in 1932, and also introduced a resolution bringing conspiracy charges against the Board of Governors of the Federal Reserve. The impeachment resolution was defeated by a vote of 361 to 8; it was seen as a big vote of confidence to President Hoover from the House.

According to Time magazine McFadden was “denounced and condemned by all Republicans for his ‘contemptible gesture’. The Central Press Association reported that he was “virtually read out of his party…[had] his committee posts…taken away from him…was ostracized by Republicans [and] called crazy…”.

Sen. David A. Reed (R-PA) said “We intend to act to all practical purposes as though McFadden had died”.

(Sidebar): A stellar lesson for an individual who would seek ethics and honesty.

(Editorial): Corruption has always owned the biggest gun, albeit as history has proven time and again (right) ..in the proper venue will conquer (might) ..every time.

Continuing…

In 1933, he introduced House Resolution No. 158, articles of impeachment for the Secretary of the Treasury, two assistant Secretaries of the Treasury, the Board of Governors of the Federal Reserve, and the officers and directors of its twelve regional banks.

In 1934 he made several Anti-Semitic comments from the floor of the house and in newsletters to his constituents wherein he cited the Protocols of the Elders of Zion, claimed the Roosevelt administration was controlled by Jews and objected to Henry Morgenthau Jr., a Jew, becoming Secretary of the Treasury.

Drew Pearson claimed in his Washington Merry-Go-Round column that McFaddon had, in an publication by the Silver Shirts, made various comments “in support of Adolf Hitler”.

In September the Nazi tabloid Der Stuermer praised McFadden.

He was also lauded by the publications of William Dudley Pelley, leader of the fascist Silver Shirts, on several occasions.

On election day that year he lost to Charles E. Dietrich by “about 2,000 votes”. This was the only election between 1912 and 1950 when the district elected a Democrat.

According his Jewish Telegraphic Agency obituary ‘In January 1935, he announced his candidacy for president with the backing of an organization called “the Independent Republican National Christian-Gentile Committee” on a platform to”keep the Jew out of control of the Republican Party!”

Not garnering much support for his presidential bid he tried to win back his congressional seat but lost the nomination by a wide-margin to Col. Albert G. Rutherford who went on to win the general election. (Source Wikipedia).

Continuing…

The following are portions of Rep. McFadden’s speech, quoted from the Congressional Record, pages 12595-12603:

“THE FEDERAL RESERVE BOARD, A GOVERNMENT BOARD, HAS CHEATED THE GOVERNMENTOF THE UNITED STATES AND THE 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.”

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.”

On the subject of media control he state, “Half a million dollars was spent on one part of the propaganda organized by those same European bankers for the purpose of misleading public opinion in regard to it.” 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.”

No man and no body of men is more entrenched in power than the arrogant credit monopoly which operates the Federal Reserve Board and the Federal Reserve banks.

These evil-doers have robbed this country of more than enough money to pay the national debt.

What the Government has permitted the Federal Reserve Board to steal from the people should now be restored to the people.”

“Our people’s money to the extent of $1,200,000,000 has within the last few months been shipped abroad to redeem Federal Reserve Notes and to pay other gambling debts of the traitorous Federal Reserve Board and the Federal Reserve banks.

The greater part of our monetary stock has been shipped to foreigners. Why should we promise to pay the debts of foreigners to foreigners?

Why should American Farmers and wage earners add millions of foreigners to the number of their dependents?

Why should the Federal Reserve Board and the Federal Reserve banks be permitted to finance our competitors in all parts of the world?”

Rep. McFadden asked. “The Federal Reserve Act should be repealed and the Federal Reserve banks, having violated their charters, should be liquidated immediately.

FAITHLESS GOVERNMENT OFFICERS WHO HAVE VIOLATED THEIR OATHS SHOULD BE IMPEACHED AND BROUGHT TO TRIAL”,

Rep. McFadden concluded (Reference 1, contains an entire chapter on Rep. McFadden’s speech)…

If the media is unbiased, independent and completely thorough, why haven’t they discussed the FED? Currently, half the states have at least a grass roots movement in action to abolish the FED, but there’s no press coverage.

In July, 1968, the House Banking Subcommittee reported that Rockefeller, through Chase Manhattan Bank, controlled 5.9% of the stock in CBS. Furthermore, the bank had gained interlocking directorates with ABC.

In 1974, Congress issued a report stating that the Chase Manhattan Bank’s stake in CBS rose to 14.1% and NBC to 4.5% (through RCA, the parent company of NBC).

The same report said that the Chase Manhattan Bank held stock in 28 broadcasting firms. After this report, the Chase Manhattan Bank obtained 6.7% of ABC, and today the percentage could be much greater.

It only requires 5% ownership to significantly influence the media (Reference 14, P. 56-57). This is only one of 300 wealthy shareholders of the FED. It is believed other FED owners have similar holdings in the media. To control the media, FED bankers call in their loans if the media disagrees with them (Reference 25, P. 134-137).

Rockefeller also controls the Council on Foreign Relations (CFR), the sole purpose of which is to aid in stimulating greater interest in foreign affairs and in a one world government.

Nearly every major newscaster belongs to the Council on Foreign Relations. The Council on Foreign Relations controls many major newspapers and magazines.

Additionally, major corporations owned by FED shareholders are the source of huge advertising revenues which surely would influence the media (Reference 14, P. 56-59).

It can be no wonder why groups such as FED-UP(tm). receive minimal, if any, press attention. How do taxpayers stop financing those whose purpose it is to destroy us?

First, expose their activity, then demand change.

THE SOLUTION: 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. 5.) 211, 212).

The U.S. Government can buy back the FED at any time for $450 million (per Congressional record). The U.S. Treasury could then collect all the profit on our money instead of the 300 original shareholders of the FED.

The $4 trillion of U.S. debt could be exchanged dollar for dollar with U.S. non- interest bearing currency when the debt becomes due.

There would be no inflation because there would be no additional currency in circulation. Personal income tax could be cut if we bought back the FED and therefore, the economy would expand.

According to the Constitution, Congress is to control the creation of money, keeping the amount of inflation or deflation in check.

If Congress isn’t doing their job, they should be voted out of office.

Unfortunately, voters can’t vote the FED or its Chairman out of office.

If the government has a deficit, we could handle it as Lincoln and Kennedy did. Print money and circulate it into the economy, but this time interest-free.

Today the FED, through foreign banks, owns much of our debt and therefore controls us. The FED will cease to exist as taxpayers become informed and tell other taxpayers. The news media and Congress will have no choice but to meet the demands of grass roots America. (Reference 1, P. 17, 22)

AMERICA DECEIVED By law (check the Congressional record), we can buy back the FED for the original investment of the FED’s 300 shareholders, which is $450 million dollars. (Reference 1, P. 227, Reference 17, P. 36).

If each taxpayer paid $25, we could buy back the FED and all the profit would flow into the U.S. Treasury.

In other words, by Congress allowing the constitutionally illegal FED to continue, much of your taxes go to the shareholders of the FED and their bankers.

Note: The people who enacted the FED started the IRS, within months of the FED’s inception. ***

The FED buys U.S. debt with money they printed from nothing, then charges the U.S. taxpayers interest.

The government had to create income tax to pay the interest expense to the FED’s shareholders, but the income tax was never legally passed (Reference 20 shows details, state-by-state why it was not legally passed).

The FED is illegal, per Article 1, Section 8 of the United States Constitution. Not one state legally ratified the 16th Amendment making income tax legal.

Currently, fewer and fewer Americans are being convicted for refusal to pay income taxes.

In IRS jury trials, the jury, by law, must decide if the law is just.

If taxpayers do not believe the law is just, the jury may declare the accused innocent.

Judges are legally bound to inform juries of their right to determine the fairness of a law. Judges often do not disclose this information so they can control the court outcome.

Luckily, more and more citizens are becoming informed. If one juror feels the law is unfair, they can find the defendant innocent (Reference 19).

In Utah, the IRS quit prosecuting taxpayers because jurors verdict is not guilty.

Please tell your friends and sit in the next jury. If we eliminate the FED and uphold the Constitution, we could balance the budget and cut personal income tax to almost nothing.

In Congressional hearings on September 30, 1941, FED Chairman Eccles admitted that the FED creates new money from thin air (printing press), and loans it back to us at interest (Reference 17, P. 93).

On June 6, 1960, FED President Mr. Allen admitted essentially the same thing (Reference 22, P. 164).

If you or I did this we would go to jail. It is time to abolish the FED!

  

To Be Continued… 

Don’t take any wooden nickels, I’ll be back tomorrow

Crusader Rabbit…

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