Thoughts on the Federal Reserve

By Michael LeMieux
20 January, 2011

Woodrow Wilson said: "The growth of the nation ... and all our activities are in the hands of a
few men ... We have come to be one of the worst ruled; one of the most completely controlled
and dominated governments in the civilized world ... no longer a government of free opinion, no
longer a government by conviction and the free vote of the majority, but a government by the
opinion and duress of a small group of dominant men." This statement was made three years
after the initiation of the Federal Reserve. The dominant men spoken of by Woodrow Wilson
are the leaders of the Federal Reserve, and the world bankers.

Horace Greeley, an author, journalist, and politician in the 1800’s said: "While boasting of our
noble deeds, we are careful to control the ugly fact that by an iniquitous money system, we have
nationalized a system of oppression which, though more refined, is not less cruel than the old
system of chattel slavery."

Andrew Jackson wrote: "If congress has the right under the Constitution to issue paper money, it
was given them to use themselves, not to be delegated to individuals or corporations.”

"The bold efforts that the present bank has made to control the government and the distress it
has wantonly caused, are but premonitions of the fate which awaits the American people should
they be deluded into a perpetuation of this institution or the establishment of another like it...If
the people only understood the rank injustice of our money and banking system there would
be a revolution before morning." [Emphasis added]

Russell L. Munk, former Assistant General Counsel of the Department of the Treasury, said:
"Federal Reserve Notes are not dollars."

Article I, Section 10 of The Constitution For The United States Of America states: "No State
shall enter into any treaty, alliance, or confederation; grant letters of marquee and reprisal;
coin money; emit letters of credit; make anything but gold and silver coin a tender in payment of
debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts,
or grant any title of nobility." (Emphasis added)

The U.S. Supreme Court in Craig v. Missouri, 4 Peters 410 1830, declared: "Emitting bills of
credit, or the creation of money by private corporations, is what is expressly forbidden by Article
1, Section 10 of the U.S. Constitution." This is precisely the current form of “money” that we
have in use today.

John Fiske, an American philosopher and historian of the 1800’s, wrote:

" There can be little doubt that, according to all sound principles of interpretation, the
Legal Tender Act of 1862 was passed in flagrant violation of the Constitution."
(Emphasis added.)
GEORGE BANCROFT, American historian, statesman, and prior Secretary of the Navy, said:

"Madison, agreeing with the journal of the convention, records that the grant of power to
emit bills of credit was refused by a majority of more than four to one. The evidence is
perfect; no power to emit paper money was granted to the legislature of the United
States." (Emphasis added.)

As you can see from the litany of prominent men from the past, from our own Constitution, and
even from the Supreme Court; our current money system is not only unconstitutional, it is a lie
perpetrated on the American people by our own government.

We will next review the prime mechanism by which this fraud was able to flourish … the
Federal Reserve.

The Federal Reserve (Fed):

The history and secrecy of the powerful men behind the creation of the Federal Reserve is both
fascinating and foreboding, and it could not be better portrayed than in the book “The Creature
from Jekyll Island, A Second Look at the Federal Reserve” (Written by G. Edward Griffin).
This is a master depiction of the men, the times, and the methods used to enslave the American
people in a blueprint for global monetary control. I highly recommend this book to anyone who
has an interest in this topic.

As the history of how this came about has already been written, it will be left to your discretion
to determine what this means to us today. In my opinion, the only difference between the slaves
who were brought from Africa and the slaves we have become is that the slaves of old knew they
were slaves. We have allowed our own country not only to enslave us, but to enslave our
children -- it is nothing less.

The Fed officially came into being by the enactment of the Federal Reserve Act of 1913.
Because it was created by an act of Congress you might expect that it would be a government
agency. You would, however, be wrong. The only thing federal about the Federal Reserve is the
spelling of its name.

CONGRESSIONAL RECORD, JUNE 10, 1932, p. 12595: "The Federal Reserve Board and
the Federal Reserve Banks are private Corporations."

CONGRESSIONAL RECORD, MAY 11, 1972: "Some people think the Federal Reserve
Banks are United States government institutions, they are not government institutions, they are
private credit monopolies."

In essence, the Federal Reserve straddles the line between government, and Private Corporation.
Their mandate is from the government, but their ownership is private, sort of. What I mean by
that; is that all the member banks have ownership in the various Central Banks that make up the
Federal Reserve. Each of the member banks in the nation belong to regional Central Reserve
Banks. As members they have input into the reserve system and are protected by it. The
regional Central Reserve Banks are members of the Federal Reserve Bank and vote to provide
members to the Federal Reserve board. In essence; they make up a cartel of Americas banks.

Many believe that without the Federal Reserve there would be no need for the income tax. Both
the Federal Reserve and the Income tax amendment were created in the same year, 1913. As
President Franklin D. Roosevelt has pointed out, "In politics, nothing happens by accident. If it
happens, you can bet it was planned that way." Keep this in mind as we go through the rest of
this article.

On the June 10th, 1932, Representative Louis T. McFadden addressed the assembled members to
discuss the then current banking crises and the depression. He states: (Taken from the
Congressional Record, 1932, pages 12595 and 12596). (Bold added to highlight specific points
of interest)

“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 the people of the United States out of enough money to pay the
national debt. The depredations and iniquities of the Federal Reserve Board has 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
defects of the law under which it operates, through the maladministration of that law by
the Federal Reserve Board, and through the corrupt practices of the moneyed vultures
who control it.”

Mr. McFadden was a Republican member of the U.S. House of Representatives from the state of
Pennsylvania. He served as treasurer and later as President of the Pennsylvania Bankers’
Association. He served as Chairman of the United States House Committee on Banking and
Currency. His obvious direct relation with the institutions and workings of the government, and
banking in particular, makes him uniquely qualified to offer the preceding statement.

The Fed is not under governmental control, nor is it a common corporation where stockholders
own voting shares. It is independent, and for all intent and purpose, is the cartel of the banking
world, designed to serve that end. It is not operating in the best interest of the American people
but for what is best for the cartel. It creates a debtor society where debt is monetized,
fractionalized, and forced upon the unsuspecting public. It manages increased inflation by
printing money as it sees fit, and at the demand of the Government, thus adding increased
national debt, and inflation. This is the grossest tax of them all, as it is a hidden tax which robs
from the weakest of the country. It encourages war, as that is when it makes its greatest gains;
and at times, it finances both sides of the war. It destabilizes the economy to facilitate its own
goals. Worst of all, it is an instrument for globalists new world order and totalitarianism.

Alan Greenspan, former Chairman of the Federal Reserve and someone with an intimate
knowledge of the Fed has said:
 "The abandonment of the gold standard made it possible for the welfare statists to use
the banking system as a means to an unlimited expansion of credit. In the absence of the
gold standard, there is no way to protect savings from confiscation through inflation.
There is no safe store of value... [Gold] stands as a protector of property rights. This is
the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a
scheme for the "hidden" confiscation of wealth. If one grasps this, one has no difficulty in
understanding the statists' antagonism toward the gold standard."

From the very early years of our Republic the Bankers have pushed to take over the
government’s money power. Anselm Rothschild, a member of the Rothschild banking family of
Austria, said: "Give me the power to issue a nation's money; then I do not care who makes the
law."

When the bankers control the issuance of a nation’s money supply they control the nation. Ron
Paul and the many patriotic groups around the country have come to understand the depth of the
corruption that fills the cistern call the Federal Reserve and it is imperative that we bring to light
all that has been hidden from the American people since they were created. Demand from your
representatives to back Ron Paul and Audit the Fed NOW!