THE Federal Reserve Conspiracy by Antony C. Sutton About the Author: Antony C. Sutton, D.Sc. was born in London, England in 1925, spent most of his life in the United States and has been a citizen for 40 years. I With an academic background in economics and engineering, Sutton has worked in mining exploration, iron and steel industries before graduate school at UCLA. In the 1960s he was Professor of Economics at California State I University, Los Angeles, followed by seven years as a Research Fellow at Stanford University. While at the Hoover Institution (Stanford), Sutton wrote the three volume definitive work on Soviet technology, Western Technology and Soviet Economic Development (still in print after 25 years). This was followed by National Suicide: Military Aid to the Soviet Union (Arlington House) which accused the Establishment of killing Americans in Vietnam with our own technology. Hoover Institution, under pressure from the White House, arbitrarily converted Sutton to a "non-person" by removing his Fellowship. Intrigued by the powerful forces behind this assault, he then researched and wrote another three volumes on the financial and political support given by Wall Street international bankers to three variants of socialism. These were published as Wall Street and the Bolshevik Revolution, Wall Street and the Rise of Hitler and Wall Street and FDR (all in the 1970s). After leaving Stanford, Sutton edited The Phoenix Letter, el monthly newsletter on the Abuse of Power (still published today) and in 1990 started another newsletter, Future Technology Intelligence Report, covering suppressed technology. In philosophy a strong constitutionalist, the author freely expresses his contempt for Washington usurpation of political power. ..but always based on the facts. TABLE OF CONTENTS CHAPTER ONE THE BANKS' BANK TWO THOMAS JEFFERSON AND THE MONEY POWER THREE ANDREW JACKSON: THE LAST ANTI-ELITIST PRESIDENT FOUR ROOSEVELT'S SOCIALIST MANIFESTO PAGE 1 17 25 FIVE SIX KARL MARX AND HIS MANIFESTO ABRAHAM LINCOLN: LAST PRESIDENT TO FIGHT THE MONEY POWER 33 49 SEVEN THE MONEY TRUST CREATES THE FED EIGHT THE JEKYL ISLAND CONSPIRACY 61 75 NINE TEN THE MONEY TRUST CONS CONGRESS THE FEDERAL RESERVE TODAY 87 107 Table of Illustrations page 4 Los Angeles Times Cartoon by Ed Gamble, 1994 Page 14 The Money Trust Honors Woodrow Wilson Page 30 A page from Clinton Roosevelt's The Science of Government Page 73 Stage One: The Original Plan For A Federal Reserve System Page 104 Stage Two: Woodrow Wilson in Debt to the Money Trust Page 106 Paul Volcker, Chairman of the Federal Reserve System in the 1970s and responsible for monetizing foreign fiat money. Page 115 Federal Reserve Board of San Francisco Claims Chapter One: THE BANKERS' BANK Since 1913 politicians and media have treated the Federal Reserve Bank as a kind of untouchable off limits semi-God.. .no one except certified crackpots and kooks criticizes the Fed. Conventional wisdom dictates that anyone who attacks the Federal Reserve System is doomed and Congressional investigation of the Fed would result in economic chaos and a disastrous plunge in the stock market. Recently President Clinton got to appoint Alan Blinder to a seat on the seven-member Board of Governors. Blinder launched into criticism of Fed actions, i.e., interest rates are too high and differed from the policy laid down by Chairman Alan Greenspan. Poor Blinder was blindsided by the establishment press and no doubt received advice to keep quiet because since this initial speech, Blinder has repeatedly stated there are no differences between himself and Chairman Greenspan and refuses to go beyond this curious mea culpa. There is a vast misconception about the Fed. The President and the Congress have very little, if any, influence on policy. The Congress handed over all monetary powers to the Fed in 1913. The Fed is a private bank, owned by banks, and pays dividends on its shares owned only by banks. The Fed is a private Bankers' Bank. The Federal Reserve Conspiracy Yet Fed policy, not Government policy, is the dominant factor in economic growth. The Fed can create jobs by loosening credit. The Government talks a lot about creating jobs but in fact can only create bureaucracies which restrict rather than promote enterprise. The private sector creates productive jobs and the private sector is heavily dependent on Fed policy to do this. The Congress has never investigated the Fed and is highly unlikely to do so. No one sees Fed accounts; they are not audited. No balance sheets are issued. No one, but no one, ever criticizes the Fed and survives. Why all the secrecy and caution? Simply because the Fed has a legal monopoly of money granted by Congress in 1913 proceedings that were unconstitutional and fraudulent. Most of Congress had no idea of the contents of the Federal Reserve Bill signed by President Woodrow Wilson who was in debt to Wall Street. The Federal Reserve has the power to create money. This money is fiction, created out of nothing. This can be money in the form of created credit through the discount window at which other banks borrow at the discount rate of interest or it can be notes printed by the Treasury and sold to the Fed and paid for by Fed-created funds In brief, this private group of bankers has a money machine monopoly. This monopoly is uncontrolled by anyone and is guaranteed profit. Further, the monopoly doesn't have to answer questions or produce books or file annual statements. It is an unrestricted money monopoly. This book explains how this money monopoly came about. Obviously, Congress and the general public were misled and lied to when the Federal Reserve Bank was in discussion. Why the monopoly has continued is that the public is lazy, and so long as their individual world is reasonably fulfilling, has no reason to question Fed actions. The Bankers' Bank Even if they do they will find few books that surface the real facts. Academicians are too interested in protecting the Fed monopoly. An academic book criticizing the Fed will never find a publisher and the economist author would probably find tenure denied. This is the first book that details hour by hour the events that led up to passage of the Federal Reserve Act of 1913 - and the many decades of work and secret planning that private bankers had invested to obtain their money monopoly. The Federal Reserve Conspiracy Qwpmftwi*. ED GAMBLE, Florida Times-Uni Los Angeles Times Cartoon by Ed Gamble, 1994
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