Chapter One: THE BANKERS' BANK: The Federal Reserve
Conspiracy by Antony C. Sutton from archive.org
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 Chapter Two THOMAS JEFFERSON AND THE MONEY POWER 
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