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Congressman McFadden's Speech
On the Federal Reserve Corporation
The Federal Reserve-A Corrupt Institution
"Mr. Chairman, we have in this Country one of the most corrupt
institutions the world has ever known. I refer to the Federal Reserve
Board and the Federal Reserve Banks, hereinafter called the Fed. The Fed
has cheated the Government of these United States and the people of the
United States out of enough money to pay the Nation's debt. The
depredations and iniquities of the Fed has cost enough money to pay the
National debt several times over.
"This evil institution has impoverished and ruined the people of these
United States, has bankrupted itself, and has practically bankrupted our
Government. It has done this through the defects of the law under which it
operates, through the maladministration of that law by the Fed and through
the corrupt practices of the moneyed vultures who control it.
"Some people who think that the Federal Reserve Banks are United States
Government institutions. They are private monopolies which prey upon the
people of these United States for the benefit of themselves and their
foreign customers; foreign and domestic speculators and swindlers; and
rich and predatory money lender. In that dark crew of financial pirates
there are those who would cut a man's throat to get a dollar out of his
pocket; there are those who send money into states to buy votes to control
our legislatures; there are those who maintain International propaganda
for the purpose of deceiving us into granting of new concessions which
will permit them to cover up their past misdeeds and set again in motion
their gigantic train of crime.
"These twelve private credit monopolies were deceitfully and disloyally
foisted upon this Country by the bankers who came here from Europe and
repaid us our hospitality by undermining our American institutions. Those
bankers took money out of this Country to finance Japan in a war against
Russia. They created a reign of terror in Russia with our money in order
to help that war along. They instigated the separate peace between Germany
and Russia, and thus drove a wedge between the allies in World War. They
financed Trotsky's passage from New York to Russia so that he might assist
in the destruction of the Russian Empire. They fomented and instigated the
Russian Revolution, and placed a large fund of American dollars at
Trotsky's disposal in one of their branch banks in Sweden so that through
him Russian homes might be thoroughly broken up and Russian children flung
far and wide from their natural protectors. They have since begun breaking
up of American homes and the dispersal of American children. "Mr.
Chairman, there should be no partisanship in matters concerning banking
and currency affairs in this Country, and I do not speak with any.
"In 1912 the National Monetary Association, under the chairmanship of the
late Senator Nelson W. Aldrich, made a report and presented a vicious bill
called the National Reserve Association bill. This bill is usually spoken
of as the Aldrich bill. Senator Aldrich did not write the Aldrich bill. He
was the tool, if not the accomplice, of the European bankers who for
nearly twenty years had been scheming to set up a central bank in this
Country and who in 1912 has spent and were continuing to spend vast sums
of money to accomplish their purpose.
"We were opposed to the Aldrich plan for a central bank. The men who
rule the Democratic Party then promised the people that if they were
returned to power there would be no central bank established here while
they held the reigns of government. Thirteen months later that promise was
broken, and the Wilson administration, under the tutelage of those
sinister Wall Street figures who stood behind Colonel House, established
here in our free Country the worm-eaten monarchical institution of the
"King's Bank" to control us from the top downward, and from the cradle to
the grave.
"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.
President Jackson's Time
"One of the greatest battles for the preservation of this Republic was
fought out here in Jackson's time; when the second Bank of the United
States, founded on the same false principles of those which are here
exemplified in the Fed was hurled out of existence. After that, 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.
"The danger that the Country was warned against came upon us and is
shown in the long train of horrors attendant upon the affairs of the
traitorous and dishonest Fed. Look around you when you leave this Chamber
and you will see evidences of it in all sides. This is an era of misery
and for the conditions that caused that misery, the Fed are fully liable.
This is an era of financed crime and in the financing of crime the Fed
does not play the part of a disinterested spectator.
"It has been said that the draughtsman who was employed to write the text
of the Aldrich bill because that had been drawn up by lawyers, by
acceptance bankers of European origin in New York. It was a copy, in
general a translation of the statutes of the Reichsbank and other European
central banks. One-half million dollars was spent on the part of the
propaganda organized by these bankers for the purpose of misleading public
opinion and giving Congress the impression that there was an overwhelming
popular demand for it and the kind of currency that goes with it, namely,
an asset currency based on human debts and obligations. Dr. H. Parker
Willis had been employed by Wall Street and propagandists, and when the
Aldrich measure failed- he obtained employment with Carter Glass, to
assist in drawing the banking bill for the Wilson administration. He
appropriated the text of the Aldrich bill. There is no secret about it.
The text of the Federal Reserve Act was tainted from the first.
"A few days before the bill came to a vote, Senator Henry Cabot Lodge, of
Massachusetts, wrote to Senator John W. Weeks as follows:
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New York City,
December 17, 1913
"'My Dear Senator Weeks:
"'Throughout my public life I 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 powers vested in the Federal Reserve Board seen to me
highly dangerous especially where there is political control of the
Board. I should be sorry to hold stock in a bank subject to such
dominations. The bill as it stands seems to me to open the way to a
vast inflation of the currency. "'I had hoped to support this bill,
but I cannot vote for it cause 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.
Very Truly Yours,
Henry Cabot Lodge.'"
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In eighteen years that
have passed since Senator Lodge wrote that letter of warning all of his
predictions have come true. The Government is in the banking business as
never before. Against its will it has been made the backer of horse
thieves and card sharps, bootlegger's smugglers, speculators, and
swindlers in all parts of the world. Through the Fed the riffraff of every
country is operating on the public credit of the United States Government.
The Great Depression
"Meanwhile and on account of it, we ourselves are in the midst of the
greatest depression we have ever known. From the Atlantic to the Pacific,
our Country has been ravaged and laid waste by the evil practices of the
Fed and the interests which control them. At no time in our history, has
the general welfare of the people been at a lower level or the minds of
the people so full of despair.
"Recently in one of our States, 60,000 dwelling houses and farms were
brought under the hammer in a single day. 71,000 houses and farms in
Oakland County, Michigan, were sold and their erstwhile owners
dispossessed. The people who have thus been driven out are the wastage of
the Fed. They are the victims of the Fed. Their children are the new
slaves of the auction blocks in the revival of the institution of human
slavery.
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History of Banking Fraud:
The Coming Battle
By M. W. WALBERT
The Coming Battle
documents from Congressional records, newspaper reports and writings by
the founding fathers and others a chronology of events long forgotten that
shaped our fledgling nation from 1776 to 1899. Read about the manipulation
of our money and its supply, the intentional creation of recessions,
depressions and panics, manipulation of the stock markets, and the
demonetization of silver.
Secrets of the Federal Reserve
by Eustace Mullins
Eustace Mullins' carefully
researched and documented treatise picks up from Walbert's expose' and
brings it to the mid 1980's
Taking Back Your Power
by Allen Aslan Heart
WHAT CAN YOU DO? Stop playing THEIR game. Take back
your power. Stop paying taxes that are not legal or lawful. Stop paying
bills you don't really owe. Stop using THEIR money. There ARE ways if you
open your mind and look for the gaps in their fences that keep the sheeple
in their pasture. Are you chattel or a real person? You are the one who
makes that choice.
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