A great email sent to me today. Having trouble articulating to yourself or others as to why exactly the Fed should be abolished? Read and pass on this email to as many Americans as you can. People need to KNOW what the Fed has done and is doing to our country.
Attached is a transcript the Congressional Record of June 10, 1932 by Louis T. McFadden
Here is the original scanned doc of the same
http://www.scribd.com/doc/16502353/Congressional-Record-June-10-1932-Louis-T-McFadden
Bear in mind that while this is McFadden’s testimony in congress, it is not him alone. He quotes several people in various offices who have insights as to the matter.
Controversy:
As with ALL things, there is opposition. There are postings by critics who try and discredit McFadden. But from what I have read, they only pick on minor flaws, math mistakes, and other stupid things. I have not found any real discredit of the core information he presented. Quite the contrary; there are tons of other resources and the voice of multiple testimonies out there.
Quiz:
If you decide to read through this doc, see if you can answer for yourself the following:
· Who Controls the Fed?
· Who controls the US Government?
· The Fed serves whose interest?
· To what is our Govt liable?
· In what way is the Fed diabolically operating?
Quotes:
Here are several key points of interest. Unless indicated otherwise, it is McFadden speaking. Be sure to at least read the description of how the Fed operates! (pages 6-7)
(page 2 )
“The Federal Reserve Bank destroyed our old and characteristic way of doing business. It discriminated against our 1-name commercial paper, the finest in the world, and it set up the antiquated 2-name paper, which is the present curse of this Country and which wrecked every country which has ever given it scope; it fastened down upon the Country the very tyranny from which the framers of the Constitution sough to save us.”
(page 3 )
“…in 1837, the Country was warned against the dangers that might ensue if the predatory interests after being cast out should come back in disguise and unite themselves to the Executive and through him acquire control of the Government. That is what the predatory interests did when they came back in the livery of hypocrisy and under false pretenses obtained the passage of the Fed.”
Regarding the Federal Reserve Act, Senator Henry Cabot Lodge, of Massachusetts, wrote to Senator John W. Weeks as follows:
December 17, 1913
"... have supported all measures designed to take the Government out of the banking business. This bill puts the Government into the banking business as never before in our history."
"The bill as it stands seems to me to open the way to a vast inflation of the currency."
"...it seems to me to contain features and to rest upon principles in the highest degree menacing to our prosperity, to stability in business, and to the general welfare of the people of the United States"
(page 4)
In 1913, before the Senate Banking and Currency Committee, Mr. Alexander Lassen made the following statement:
"The whole scheme of the Fed...will prove to the advantage of the few and the detriment of the people."
McFadden Continues:
“…the German International bankers, Kuhn, Loeb and Co. sent one of their partners here to run it”
(page 5)
“The Fed Note is essentially unsound. It is the worst currency and the most dangerous that this Country has ever known.”
“They (proponents of the Fed) should not have made the Government [liable on the private] debts of individuals and corporations, and, least of all, on the private debts of foreigners.”
(page 6)
Scottish Distillers, Fed Money-changing example:
"Mr. Chairman, if a Scottish distiller wishes to send a cargo of Scotch whiskey to these United States, he can draw his bill against the purchasing bootlegger in dollars and after the bootlegger has accepted it by writing his name across the face of it, the Scotch distiller can send that bill to the nefarious open discount market in New York City where the Fed will buy it and use it as collateral for a new issue of Fed Notes. Thus the Government of these United States pay the Scotch distiller for the whiskey before it is shipped, and if it is lost on the way, or if the Coast Guard seizes it and destroys it, the Fed simply write off the loss and the government never recovers the money that was paid to the Scotch distiller. “
"While we are attempting to enforce prohibition here, the Fed are in the distillery business in Europe and paying bootlegger bills with public credit of these United States.”
German Beans (another example):
"Mr. Chairman, if a German wishes to raise a crop of beans and sell them to a Japanese customer, he can draw a bill against his prospective Japanese customer in dollars and have it purchased by the Fed and get the money out of this Country at the expense of the American people before he has even planted the beans in the ground.”
(page7)
"Mr. Chairman, there is nothing like the Fed pool of confiscated bank deposits in the world. It is a public trough of American wealth in which the foreigners claim rights, equal to or greater than Americans. The Fed are the agents of the foreign central banks. They use our bank depositors' money for the benefit of their foreign principals. They barter the public credit of the United States Government and hire it out to foreigners at a profit to themselves. “
"All this is done at the expense of the United States Government, and at a sickening loss to the American people… "We need to destroy the Fed wherein our national reserves are impounded for the benefit of the foreigners. "We need to save America for Americans. “
Conclusion:
So, anyone in favor of keeping the Fed? Anyone still thinking it’s a good idea to just reform it? Or shall we abolish this catastrophic menace to society? Seems to me, it is rotten from the core out, and from the ground up. It has no foundation based on principles that in any way would reflect the founding fathers intent. Quite the opposite in fact. This is the very thing they escaped from, and fought to prevent.
