HANKA Wrote:Currently reading book "The Creature from Jekyll Island" about the Federal Reserve and our monetary system. So, yeah, don't get me started on the banks. . . .
John
I read that book in 1999-should be required reading. The biggest points I took away were how the old European global powers used the United States as a vehicle to continue their wealth, but were almost put out of business by free enterprise and the savings and loan industry with smaller banks that grew South and West throughout the US. In 1890, I believe the book states that a few of the European banks and their frontmen in the US accounted for 85% of people's money in their accounts. By 1910, that number had nose-dived to 50%, with the trend appearing to be terminal if they didn't do something quick.
Since the bigger banks were loaning radically, with very little reserves in the vaults, they were enjoying profits from those risky, radical loans, and they didn't want to quit the practice. What did they do? Create the biggest fraud of a scheme in the history of mankind: Get the US Congress to go-in with them on changing who prints the money supply, from US Treasury Notes issued by our Government, to a private supply of notes printed by them, which would then be loaned to the Treasury, then paid off by Congress with a newly-passed Federal Income Tax levied on the sap populace.
The control of our right to print our own currency was literally handed over to foreign bankers, who put together a board of directors who have a frontman for the public to see and hear from occasionally: The Federal Reserve Chairman, representing the financial interests of these European powers. It was Paul Warburg from Kuhn, Loeb & Co. (the same bank that gave millions to Lenin to claim the victor of the Bolshevik Revolution against Czarist Russia, issuing in the most demonic comminist regime known until the ChiComs) who coined the term, "Federal Reserve". He said they needed to fool the idiot populace into believing that this institution had only 2 elements, since people couldn't really think past the idea of more than 2 concepts when it comes to money:
1) The name of the institution must trick the fools into believing that it has the full backing of the FEDERAL gubm't, and he suggested it include the word "FEDERAL", and
2) It should deceive the masses of morons into thinking that there were vast reserves of currency to back the nation's money supply, suggesting the word "RESERVE".
This plan initially failed, as Senator Aldrich insisted on naming the legislation after himself. It was seen as a suspicious alliance between the Senior Republican Whip (Aldrich), connected to banking. When that failed, the consiglieres for the banksters suggested proposing the exact same legislation again, only advertising against it this time in their papers as a bill that would help protect the people from greedy, evil bankers!
It worked, and in 1913, President Woodrow Wilson signed the Federal Reserve Act into law, forever condemning America to the cage of a foreign alliance of banksters controlling our money supply.