CHAPTER FOUR
THE FEDERAL RESERVE, INCORPORATED
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98 Fruit from a Poisonous Tree
THE FEDERAL RESERVE BANK MONUMENTAL FRAUD IN AMERICA’S HISTORY
“Man can live and satisfy his wants only by ceaseless labor; by the ceaseless application of his faculties to natural resources. This process is the origin of property. But it is also true that a man may live and satisfy his wants by seizing and consuming the products of the labor of others. This process is the origin of plunder. Since man is naturally inclined to avoid pain and since labor is pain in itself, it follows that men will resort to plunder whenever plunder is easier than work.
“When plunder becomes a way of life for a group of men living in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it.”
– The Law, by Frederick Bastiat, Economist and Statesman (June, 1850)
Banks are established for one reason and one reason only: to plunder the wealth of diligent, honest, hardworking people. Impenetrable secrecy shrouds the issue of money, banking, finance and economics. Each year thousands
of students spend enormous sums of money and time attending Ivy League schools in a futile attempt to exalt and legitimize a system that, at its very core, is based upon the blackest of evil, theft and usury. Our Founding Fathers had no difficulty whatsoever understanding the agenda of the bankers, and they constructed our Constitution to protect us from that force of darkness.They hated the Bank of England in particular and felt that even if we were successful in winning our independence from King George, we could still never truly be a nation of freemen unless we started with an honest money system. Only a $50,000 education could convince a man that a thief is honest, that wrong is right and day is night. Most of these Ivy League club members become lawyers. These lawyers and judges then populate the justice system of this country protecting the international bankers. On one side of this justice highway stand these warped intellects; we, the American people, stand on the other. The only things in the middle of the road are dead skunks and ignorant people.
For some strange reason, the men who have created this elaborate scheme, whose sole purpose is the plunder of our national wealth, are the same morons who claim to be brilliant, educated, and informed. Even they cannot seem to agree on much of anything when it comes to banking or money.
“An International Monetary Fund seminar of eminent economists couldn’t agree on what money is and how banks create it.” – Wall Street Journal (September 24, 1971)
After reading this book, you will understand more about money and banking than the average banker knows. You will be equipped with information that you need to know and of which were deprived by your government-funded public education. You can stop living as though someone else held your destiny in his hands.
“Those who create and issue credit and money, direct the policies of government, and hold in the hollow of their hands the destiny of the people.” – The Right-Honorable Reginald McKenna, Midland Bank of England, Secretary of the Exchequer
“Whoever controls the money in any country is master of all its legislation and commerce.” – President James Garfield
EXPOSING THE FRAUD
“Centralization of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly.” – 5th Plank of the Communist Manifesto, by Karl Marx (1848)
What is the “Federal Reserve Banking System”? The “Fed,” as it is commonly referred to, is privately owned. It is part of an international banking cartel, owned by an exclusive cadre of the most wealthy and powerful individuals on the face of the earth. The Fed is not in any demonstrable way part of our federal government, any more than is Federal Express. Federal Express will, however, give you service for purchase. The Federal Reserve Banks’ intended purpose is to fleece the American people by stealing our wealth under the pretext of a “government-regulated central banking system” that calls itself “Federal.”
75 Congressional Record 12595-12603: “The Federal Reserve Banks are privately owned, locally controlled corporations.” Lewis vs. U.S., 680 F2d 1239, 1241 (1982)
“From a legal standpoint these banks are private corporations, organized under a special act of Congress, namely, the Federal Reserve Act. They are not in the strict sense of the word, ‘Government banks.’” – William P.G. Harding, Governor of the Federal Reserve Board (1921)
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The U.S. Constitution, Art. 1 § 8 states: “The Congress shall have Power... To coin Money, regulate the Value thereof...
This power is granted by the People and vested only in the United States Congress. Yet Congress re-delegated this power, contrary to the Supreme Law of the Land, the Constitution for the United States.
The Federal Reserve Act is in direct violation of the Constitution, because no provision was ever made by the People for Congress to do so.
“Congress cannot delegate or sign over its authority to any individual, corporation or foreign nation.” – 16th Corpus Juris Secundum, § 141
“The powers of the legislature are defined, and limited; and that those limits may not be mistaken, or forgotten, the constitution is written. To what purpose are powers limited, and to what purpose is that limitation committed to writing, if these limits may, at any time, be passed by those intended to be restrained? The distinction, between a government with limited and unlimited powers, is abolished, if those limits do not confine the persons on whom they are imposed, and if acts prohibited and acts allowed, are of equal obligation. It is a proposition too plain to be contested, that the constitution controls any legislative act repugnant to it; or, that the legislature may alter the constitution by an ordinary act.” – U.S. Supreme Court in Marbury v. Madison, 5 U.S. 368
“The general rule is that an unconstitutional statute, whether federal or state, though having the form and name of law, is in reality no law, but is wholly void, and ineffective for any purpose, since unconstitutionality dates from the time of its enactment, and not merely from the date of the decision so branding it. No one is bound to obey an unconstitutional law and no courts are bound to enforce it.” – 16th American Jurisprudence, § 256, 2nd Ed.
The Federal Reserve Act, as passed by Congress, December 23, 1913, has since become the biggest fraud in the history of this country. Its passage occurred because of self-serving politicians that were more interested in lining their pockets than upholding their oath of office.
This is how it started.
TREASON’S RESORT
This day of infamy ended like most in the small town of Hoboken, New Jersey. The sky was overcast this 22nd day of November, 1910; there was a damp chill in the air. A train moving southwest left its vapor trails in the evening sky and moved off into the sunset on a journey that would within the near future change the world forever.
On the train, as it sped secretly into the blackness of night and into a malevolent future, were several of the most influential, powerful, financial and political men in the world. Many hours went by in silence; all men present knew they were to play a part in the development of a master plan that would alter forever their destiny, the destiny of the United States and of the entire world.
For some of these men, traveling in the sealed railcar with the windows blacked out, doubt crept into their minds as they pondered what would happen to them if identified. They would certainly be branded by some a traitor to the country, for clearly this act they were undertaking was treason. The others among them had no latent sentiment of patriotism. Their only allegiance was to their families (Rothschild, Rockefeller, Morgan) and money – money beyond imagination that was soon to be theirs. The train moved steadily south, consuming mile after mile of rail, bringing the collection of traitors, bankers and politicians closer to their destiny at Jekyll Island, Georgia.
Conditions precedent to the Jekyll Island meeting unfolded several years earlier with the 1907-08 financial panics, which had been secretly orchestrated by J.P. Morgan. Morgan de-stabilized the currency by starting a rumor about a competitor to eliminate competition and consolidate his power. This experience unnerved the entire country. President Theodore Roosevelt signed into law a bill which created the National Monetary Commission. This Commission was charged with the formulation of plans for stabilization of the U.S. currency. Senator Nelson Aldrich (grandfather to Nelson Rockefeller) was appointed its chairman.
Senator Aldrich, along with the entire Commission, departed for Europe seeking solutions to the problems of U.S. banking and currency stabilization. Their trip lasted nearly two years. The committee visited with heads (Rothschild) of all the European central banks. Upon their return no results of the trip were published; no legislation was offered to Congress. All that was known was that the bill for the trip was $300,000.
There were, however, some interesting immigrants landing on our shores along with the returning banking committee. One of them, Paul Warburg, a German and member of the Rothschild banking family (German division), immediately gained employment at the banking house of Kuhn, Loeb and Company as an advisor at a salary of $500,000. Warburg and Aldrich developed a plan, which Aldrich submitted to Congress, entitled the “Aldrich Plan,” which was soundly rejected by the Western and Southern Congressmen.
As the train approached the Brunswick, Georgia, station, several dark limos were present, awaiting the arrival.
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A small group of newspaper reporters were waiting to interview some VIPs. None were sure who they were or what they could possibly want in this small Georgia town. As the train came to a noisy, steamy stop, the reporters gathered around the sealed car with the drawn windows.
Down through the clouds of steam stepped Senator Aldrich to lead the resistance and offer answers to the annoying questions he knew were sure to follow. The reporters gathered around and to his side listening to the senator’s story on the glory of duck hunting at Jekyll Island. Meanwhile, the other members of the coach disembarked and silently entered the waiting cars, unseen and unidentified.
The “duck hunters” included: Benjamin Strong, known as J.P. Morgan’s lieutenant; America’s recent German immigrant, Paul Warburg; Charles D. Norton, president of the Morgan-dominated First National Bank of New York; Shelton, Aldrich’s private secretary; A. Piatt Andrew, Assistant Secretary of the Treasury; Frank Vanderlip, president of the National City Bank of New York and Rockefeller’s agent; and Henry P. Davison, senior partner of J.P. Morgan Company.
Jekyll Island was a pleasant getaway from the turmoil of a busy banker’s day. You can imagine how exhausting the denial of loans, foreclosures on homes, and collection of bad debts can be. Several years prior to the meeting, the island had been purchased by J.P. Morgan and a few of his wealthy New York banking and industrialist friends for the purpose of a vacation spot, spicy parties, winter golf and an occasional duck hunting expedition. The launch trip to the island was uneventful and relaxing after the rail car journey from New York. This was the perfect spot for such a high level meeting, which would direct the course of future human events. The owners of the Jekyll Island Hunting Club, in and of themselves, represented one-fifth of the total wealth of the world and some of them were soon to get richer.
Of course there was no intention for this group of high rollers to duck hunt. Their agenda was strictly focused on the development of a central bank and its funding. Out of this gathering were to spring plans for implementing the 16th and 17th amendments to the United States Constitution and a central bank (Federal Reserve Bank).
Senator Aldrich was expected to develop a monetary reform plan to submit to Congress. The “plan” that was to be developed here by these assembled must, by any means, keep the author’s identities secret from Congress and the American people. Southern Senators would rebel if it were known that the very people they feared (Wall Street bankers) were developing the plan, the same plan that Congress had just rejected.
The heart of the reform plan was the creation and funding of a central bank. Approximately one year prior to the meeting, joint resolutions had been
sent to the states for ratification to become part of the Constitutional body of law. The 16th amendment was the tool necessary to fund the Federal Reserve banking system. This amendment would mean the success or failure of their monetary plans. No matter what, this amendment must become law.
President Woodrow Wilson, along with his watchdog, Colonel House (who was an agent of Rothschild), had to enlist the aid of Secretary of State Philander Knox. Together, these three would proclaim that the 16th amendment had been ratified, even though they knew it had little or no chance of ratification. This had to be done! After the proclamation, the amendment file would be hidden away and no one would ever know that a little detail like non-ratification ever happened.
“No one will ever go out to the states and check,” and no one did until two men named Bill Benson, of South Holland, Illinois, and M.J. “Red” Beckman of Butte, Montana, came along (The Law That Never Was).
Thomas Jefferson had struggled against Alexander Hamilton’s scheme for the First Bank of the United States, which was backed by James Rothschild. He stated, “A central bank is a greater threat to our freedom than a standing army”
Later, President Andrew Jackson was successful in removing the Second Bank of the United States; again Rothschild was attempting to gain a foothold on this continent. President Jackson stated, “You are a nest of vipers and thieves, and by the grace of the all mighty God, I will root you out.” And so he did. We were saved once again by a wise and assertive leader.
I am afraid the crop of presidents, beginning with Wilson to the present day, were not cut from the same cloth as our former presidents and are directly under the influence and control of the same evil financiers of the original central banks of our past.
With a negative history of central bank activity in America, Paul Warburg had warned the group not to call it a central bank. He convinced the group of conspirators to use the name “Federal Reserve Bank.” The word “Federal” had the inference of government, and the word “Reserve” gave a warm, fuzzy feeling of confidence that there was something set aside that would stabilize the currency in hard times.
Nothing in the words “Federal Reserve Bank” has, in fact, any of the substance that the words suggest. The “Federal Reserve Bank” is not Federal and has no true governmental authority. The word “Reserve” is misleading in that there are no reserves of any kind.
The controllers of our currency and our lives are those same secret society members who control Europe, Japan, and now, Russia. Their plans of world domination are nearly perfected. The only concerns they have are that the American people who are armed to the teeth, having tasted freedom, would
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fight to the death to preserve it. This is why they desperately seek the outright banning of guns in America. (State Dept. Document 7277)
In referencing the Jekyll Island meeting, Bertie Charles Forbes, the founder of Forbes magazine, six years after the event, wrote:
“Picture a party of the nation’s greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily hiding hundreds of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such secrecy that the names of not one of them was once mentioned lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance. I am not romancing; I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written....
“The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done. Senator Aldrich notified each one to go quietly into a private car of which the railroad had received orders to draw up on an unfrequented platform.
“Off the party set. New York’s ubiquitous reporters had been foiled...
“Nelson (Aldrich) had confided to Henry, Frank, Paul and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank, and Henry.... Warburg is the link that binds the Aldrich system and the present system together. He, more than any one man, has made the system possible as a working reality.”
The Federal Reserve System was, from the day of its inception, unconstitutional. The administrators of the system were to be appointed directly by the President, giving the Congress no say in its construction. Had this been known, the western and southern states would have had an all-out rebellion.
The last things in the world they trusted were the Wall Street bankers who had created the 1907-08 panic. Now, to have these men at the control of America’s currency would never have been permitted. This was the major concern of Aldrich and the reason for the high secrecy concerning the meeting.
Under the proposed system, there would be four (later twelve) regional Federal Reserve banks throughout the country, the New York bank being in control of all the regions. This gave the public the impression of regional reserves and independence, along with a feeling of security, albeit false.
And so on December 22, 1913, when Congress was more interested in adjourning for the Christmas holiday than on the currency issue, they
approved the Federal Reserve Act. The international agents had control of the United States of America. At that time, the nation had zero national debt. As of this writing, the national debt is over nine trillion dollars. If all off-budget items were truthfully presented, the debt would be double that figure or greater.
The money barons have drained America of its national wealth and stolen the American dream from all future generations. Every man, woman, and child in this country, upon birth, has a personal debt to these international agents of over $30,000. The interest alone is over one billion dollars each day and rising. The principal will never be repaid, and their miracle of compound interest will ensure the control of these “New World Order” masters over the American people forever.
“The current Fed structure is difficult to justify in a democracy. It’s an oddly undemocratic institution. Its organization is so dated that there is only one Reserve Bank west of the Rocky Mountains, and two in Missouri. Having a central bank with a monopoly over the issuance of the currency in a democratic society is a very difficult balancing act.” – Wall Street Journal, Feb.8, 1993
That is the story of creation of the Federal Reserve Bank. Now we will explore the creation of their private “money.”
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