The Privately Owned Federal Reserve is the biggest scam on Earth

I would suggest that you read Secrets of the Federal Reserve,
http://www.apfn.org/apfn/reserve.htm [1]

Then perhaps "A phone Call to the Feds,"
http://www.rense.com/general29/ringring.htm [2]

Then Maybe this.

just one little question...

"to WHOM is the INTEREST on the USA national debt REALLY paid?" According to
the Grace Commission setup by Ronald Reagan, taxes all go to pay interest to
the Bankers who get to create our money and then get to lend it back to us
as interest bearing debt without any effort!

FYI: just the interest on the USA national debt is presently NOT MET by the
ENTIRE REVENUE FROM USA INCOME TAX....

who gains?

if the USA government really owned the FED, it would therefore receive the
interest on the national debt, and then there would be no need for ANY
income tax whatsoever...

why would a government owned fed lend money to itself, and charge itself
interest on the loan... it just doesn't add up....

HOW ON EARTH CAN IT BE THAT THE USA GOVERNMENT IS GOING OUT OF BUSINESS
(BANK-RUPTURED) BECAUSE IT CANNOT MEET THE INTEREST PAYMENTS ON MONEY WHICH
IT HAS LENT TO ITSELF???

unfortunately, the reality seems to be, that the interest on the national
debt (ie: the entire USA income tax revenue!) is paid to unelected,
unaccountable (so far...!!), private individuals (bankers) who do as they
please... and now they have the blinding NERVE to say they're going
BANK-rupt...

1) the fed creates money out of nothing, which it lends at interest to
everyone else (at least 60% of everyone's wages on the Earth is paying
interest on money printed by the banks).
2) the fed sets the interest rate.
3) they put the interest rate down, people borrow money to start businesses.
4) the fed put the interest rate UP, people go out of business.
5) the BANKS decide who stays in business.
6) hence the banks are directly responsible for all the AGGRAVATED CRIMINAL
DAMAGE AND DESTRUCTION (max life sentence) OF OUR BEAUTIFUL PLANET.
7) when everyone goes out of business, their hard earned property is sold
off at pennies on the dollar, to people who have borrowed more money at the
(now) reduced interest rate...
8) etc etc etc ad nauseum...

the difference with the present recession, is that there are two quite
different reasons why it's happening...

1) the certain knowledge that all the money in the world is virtual money of
no real consequence whatsoever, is now in the public domain (and not before
time either...)
2) the certain knowledge that all contracts to CRIMINALLY damage or destroy
the environment are void, unenforceable contracts is now ALSO becoming
public...

I) imagine, if you can, that you are a VERY wealthy person, with millions of
dollars of virtual money which you 'earned' one way or another, through
wholesale damage and destruction of the environment,
II) you met a hippy who told you that facts (1) and (2) are being made
public (which they ARE!). you are not entirely stupid, so you realise that
when (1) and (2) are public, all your virtual wealth will be worth precisely
nothing.
III) what do you do?? SELL EVERYTHING!

hence the present CRISIS (a crisis is a 'turning point')

SO WHAT NEXT?
use all that virtual money to pay the people to create a beautiful
permaculture forest garden on this beautiful planet, right here, and right
now, OR ELSE <HTTP://WWW.ECOTORT.GN.APC.ORG [3]> !

http://www.ecotort.gn.apc.org [3]

On May 23, 1933, Congressman, Louis T. McFadden, brought formal charges
against the Board of Governors of the Federal Reserve Bank system, The
Comptroller of the Currency and the Secretary of United States Treasury for
numerous criminal acts, including but not limited to, CONSPIRACY, FRAUD,
UNLAWFUL CONVERSION, AND TREASON.
The petition for Articles of Impeachment was thereafter referred to the
Judiciary Committee and has
YET TO BE ACTED ON.
So, this ELECTRONIC BOOKLET should be reprinted, reposted,
set up on web pages and circulated far and wide.

_____

Congressman McFadden
on the Federal Reserve Corporation
Remarks in Congress, 1934
AN ASTOUNDING EXPOSURE

_____

Reprinted by permission 1978 Arizona Caucus Club

_____

Congressman McFadden's Speech
On the Federal Reserve Corporation

Quotations from several speeches made on the Floor of the House of
Representatives by the Honorable Louis T. McFadden of Pennsylvania. Mr.
McFadden, due to his having served as Chairman of the Banking and Currency
Committee for more than 10 years, was the best posted man on these matters
in America and was in a position to speak with authority of the vast
ramifications of this gigantic private credit monopoly. As Representative of
a State which was among the first to declare its freedom from foreign money
tyrants it is fitting that Pennsylvania, the cradle of liberty, be again
given the credit for producing a son that was not afraid to hurl defiance in
the face of the money-bund. Whereas Mr. McFadden was elected to the high
office on both the Democratic and Republican tickets, there can be no
accusation of partisanship lodged against him. Because these speeches are
set out in full in the Congressional Record, they carry weight that no
amount of condemnation on the part of private individuals could hope to
carry.

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 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 draughts man 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 statues 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 test 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:

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.'"

"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.

The Scheme of the Fed

"In 1913, before the Senate Banking and Currency Committee, Mr. Alexander
Lassen made the following statement: "The whole scheme of the Fed with its
commercial paper is an impractical, cumbersome machinery- is simply a cover
to secure the privilege of issuing money, and to evade payment of as much
tax upon circulation as possible and then control the issue and maintain,
instead of reducing interest rates. It will prove to the advantage of the
few and the detriment of the people. It will mean continued shortage of
actual money and further extension of credits, for when there is a shortage
of money people have to borrow to their cost.' "A few days before the Fed
passed, Senator Root denounced the Fed as an outrage on our liberties. He
predicted: 'Long before we wake up from our dream of prosperity through an
inflated currency, our gold- which alone could have kept us from
catastrophe- will have vanished and no rate of interest will tempt it to
return.'

"If ever a prophecy came true, that one did.

"The Fed became law the day before Christmas Eve, in the year 1913, and
shortly afterwards, the German International bankers, Kuhn, Loeb and Co.
sent one of their partners here to run it.

"The Fed Note is essentially unsound. It is the worst currency and the most
dangerous that this Country has ever known. When the proponents of the act
saw that the Democratic doctrine would not permit them to let the proposed
banks issue the new currency as bank notes, they should have stopped at
that. They should not have foisted that kind of currency, namely, an asset
currency, on the United States Government. They should not have made the
Government [liable on the private] debts of individuals and corporations,
and, least of all, on the private debts of foreigners. "As Kemerer says:
'The Fed Notes, therefore, in form, have some of the qualities of Government
paper money, but in substance, are almost a pure asset currency possessing a
Government guarantee against which contingency the Government has made no
provision whatever.'

"Hon. L.J.Hill, a former member of the House, said, and truly: "They are
obligations of the Government for which the United States received nothing
and for the payment of which at any time, it assumes the responsibility:
looking to the Fed to recoup itself.'

"If this United States is to redeem the Fed Notes, when the General Public
finds it costs to deliver this paper to the Fed, and if the Government has
made no provisions for redeeming them, the first element of unsoundness is
not far to seek.

"Before the Banking and Currency Committee, when the bill was under
discussion Mr. Crozier of Cincinnati said: 'The imperial power of elasticity
of the public currency is wielded exclusively by the central corporations
owned by the banks. This is a life and death power over all local banks and
all business. It can be used to create or destroy prosperity, to ward off or
cause stringencies and panics. By making money artificially scarce, interest
rates throughout the Country can be arbitrarily raised and the bank tax on
all business and cost of living increased for the profit of the banks owning
these regional central banks, and without the slightest benefit to the
people. The 12 Corporations together cover y and monopolize and use for
private gain- every dollar of the public currency and all public revenue of
the United States. Not a dollar can be put into circulation among the people
by their Government, without the consent of and on terms fixed by these 12
private money trusts.'

"In defiance of this and all other warnings, the proponents of the Fed
created the 12 private credit corporations and gave them an absolute
monopoly of the currency of these United States- not of the Fed Notes alone-
but of all other currency! The Fed Act providing ways and means by which the
gold and general currency in the hands of the American people could be
obtained by the Fed in exchange for Fed Notes- which are not money- but mere
promises to pay.

"Since the evil day when this was done, the initial monopoly has been
extended by vicious amendments to the Fed and by the unlawful and
treasonable practices of the Fed.

Money for the Scottish Distillers

"Mr. Chairman, if a Scottish distiller wishes to send a cargo of Scotch
whiskey to these United States, he can draw his bill against the purchasing
bootlegger in dollars and after the bootlegger has accepted it by writing
his name across the face of it, the Scotch distiller can send that bill to
the nefarious open discount market in New York City where the Fed will buy
it and use it as collateral for a new issue of Fed Notes. Thus the
Government of these United States pay the Scotch distiller for the whiskey
before it is shipped, and if it is lost on the way, or if the Coast Guard
seizes it and destroys it, the Fed simply write off the loss and the
government never recovers the money that was paid to the Scotch distiller.

"While we are attempting to enforce prohibition here, the Fed are in the
distillery business in Europe and paying bootlegger bills with public credit
of these United States. "Mr. Chairman, by the same process, they compel our
Government to pay the German brewer for his beer. Why should the Fed be
permitted to finance the brewing industry in Germany either in this way or
as they do by compelling small and fearful United States Banks to take stock
in the Isenbeck Brewery and in the German Bank for brewing industries? "Mr.
Chairman, if Dynamit Nobel of Germany, wishes to sell dynamite in Japan to
use in Manchuria or elsewhere, it can drew its bill against the Japanese
customers in dollars and send that bill to the nefarious open discount
market in New York City where the Fed will buy it and use it as collateral
for a new issue of Fed Notes- while at the same time the Fed will be helping
Dynamit Nobel by stuffing its stock into the United States banking system.

"Why should we send our representatives to the disarmament conference at
Geneva- while the Fed is making our Government pay Japanese debts to German
Munitions makers?

"Mr. Chairman, if a German wishes to raise a crop of beans and sell them to
a Japanese customer, he can draw a bill against his prospective Japanese
customer in dollars and have it purchased by the Fed and get the money out
of this Country at the expense of the American people before he has even
planted the beans in the ground. "Mr. Chairman, if a German in Germany
wishes to export goods to South America, or any other Country, he can draw
his bill against his customers and send it to these United States and get
the money out of this Country before he ships, or even manufactures the
goods.

"Mr. Chairman, why should the currency of these United States be issued on
the strength of German Beer? Why should it be issued on the crop of
unplanted beans to be grown in Chili for Japanese consumption? Why should
these United States be compelled to issue many billions of dollars every
year to pay the debts of one foreigner to another foreigner? "Was it for
this that our National Bank depositors had their money taken out of our
banks and shipped abroad? Was it for this that they had to lose it? Why
should the public credit of these United States and likewise money belonging
to our National Bank depositors be used to support foreign brewers, narcotic
drug vendors, whiskey distillers, wig makes, human hair merchants, Chilean
bean growers, to finance the munition factories of Germany and Soviet
Russia?

THE UNITED STATES HAS BEEN RANSACKED

"The United States has been ransacked and pillaged. Our structures have been
gutted and only the walls are left standing. While being perpetrated,
everything the world would rake up to sell us was brought in here at our
expense by the Fed until our markets were swamped with unneeded and unwanted
imported goods priced far above their value and make to equal the dollar
volume of our honest exports, and to kill or reduce our favorite balance of
trade. As Agents of the foreign central banks the Fed try by every means in
their power to reduce our favorable balance of trade. They act for their
foreign principal and they accept fees from foreigners for acting against
the best interests of these United States. Naturally there has been great
competition among among foreigners for the favors of the Fed.

"What we need to do is to send the reserves of our National Banks home to
the people who earned and produced them and who still own them and to the
banks which were compelled to surrender them to predatory interests.

"Mr. Chairman, there is nothing like the Fed pool of confiscated bank
deposits in the world. It is a public trough of American wealth in which the
foreigners claim rights, equal to or greater than Americans. The Fed are the
agents of the foreign central banks. They use our bank depositors' money for
the benefit of their foreign principals. They barter the public credit of
the United States Government and hire it our to foreigners at a profit to
themselves.

"All this is done at the expense of the United States Government, and at a
sickening loss to the American people. Only our great wealth enabled us to
stand the drain of it as long as we did.

"We need to destroy the Fed wherein our national reserves are impounded for
the benefit of the foreigners. "We need to save America for Americans.

SPURIOUS SECURITIES

"Mr. Chairman, when you hold a $10.00 Fed Note in your hand, you are holding
apiece of paper which sooner or later is going to cost the United States
Government $10.00 in gold (unless the Government is obliged to go off the
gold standard). It is based on limburger cheese (reported to be in foreign
warehouses) or in cans purported to contain peas (but may contain salt water
instead), or horse meat, illicit drugs, bootleggers fancies, rags and bones
from Soviet Russia (of which these United States imported over a million
dollars worth last year), on wines whiskey, natural gas, goat and dog fur,
garlic on the string, and Bombay ducks.

"If you like to have paper money- which is secured by such commodities- you
have it in Fed Note. If you desire to obtain the thing of value upon which
this paper currency is based, that is, the limburger cheese, the whiskey,
the illicit drugs, or any of the other staples- you will have a very hard
time finding them.

"Many of these worshipful commodities are in foreign Countries. Are you
going to Germany to inspect her warehouses to see if the specified things of
value are there? I think more, I do not think that you would find them there
if you did go.

"On April 27, 1932, the Fed outfit sent $750,000 belonging to American bank
depositors in gold to Germany. A week later another $300,000 in gold was
shipped to Germany. About the middle of May $12,000,000 in gold was shipped
to Germany by the Fed. Almost every week there is a shipment of gold to
Germany. These shipments are not made for profit on the exchange since the
German marks are blow parity with the dollar.

"Mr. Chairman, I believe that the National Bank depositors of these United
States have a right to know what the Fed are doing with their money. There
are millions of National Bank depositors in the Country who do not know that
a percentage of every dollar they deposit in a Member Bank of the Fed goes
automatically to American Agents of the foreign banks and that all their
deposits can be paid away to foreigners without their knowledge or consent
by the crooked machinery of the Fed and the questionable practices of the
Fed.

[Ed. Note- Problem with next paragraph in original] "Mr. Chairman, the
American people should be told the truth by their servants in office. In
1930, we had over a half billion dollars outstanding daily to finance
foreign goods stored in or shipped between several billion dollars. What
goods are these on which the Fed yearly pledge several billions of dollars.
In its yearly total, this item amounts to several billions of dollars of the
public credit of these United States?

"What goods are those which are hidden in European and Asiatic stores have
not been seen by any officer of our Government but which are being financed
on the public credit of the United States Government? What goods are those
upon which the 17 United States Government is being obligated by the Fed to
issue Fed Notes to the extent of several billions of dollars a year?

The Bankers' Acceptance Racket

"The Fed have been International Banks from the beginning, with these United
States as their enforced banker and supplier of currency. But it is none the
less extraordinary to see these these twelve private credit monopolies,
buying the debts of foreigners against foreigners, in all parts of the world
and asking the Government of these United States for new issues of Fed notes
in exchange for them. "The magnitude of the acceptance racket as it has been
developed by the Fed, their foreign correspondents, and the predatory
European born bankers, who set up the Fed here and taught your own, by and
of pirates, how to loot the people: I say the magnitude of this racket is
estimated to be in the neighborhood of 9,000,000,000 per year. In the past
ten years it is said to have amounted to $90,000,000,000.00. In my opinion
it has amounted to several times that much. coupled to this you have to the
extent of billions of dollars, the gambling in the United States securities,
which takes place in the same open discount market- a gambling on which the
Fed is now spending $100,000,000.00 per week.

"Fed Notes are taken from the U.S. Government in unlimited quantities. Is is
strange that the burden of supplying these immense sums of money to the
gambling fraternity has at last proved too heavy for the American people to
endure? Would it not be a national [calamity to] again bind down this burden
on the backs of the American people and by means of a long rawhide whip of
the credit masters, compel them to enter another seventeen years of slavery?

"They are trying to do that now. They are trying to take $100,000,000.00 of
the public credit of the United States every week, in addition to all their
other seizures and they are sending that money to the nefarious open market
in a desperate gamble to reestablish their graft as a going concern.

"They are putting the United States Government in debt to the extent of
$100,000,000 a week, and with the money they are buying our Government
securities for themselves and their foreign principals. Our people are
disgusted with the experiences of the Fed. The Fed is not producing a loaf
of bread, a yard of cloth, a bushel of corn, or a pile of cordwood by its
check-kiting operations in the money market.

"Mr. Speaker, on the 13th of January of this year I addressed the House on
the subject of the Reconstruction Finance Corporation. In the course of my
remarks I made the following statement: In 1928 the member banks of the Fed
borrowed $60,598,690,000. from the Fed on their fifteen-day promissory
notes. Think of it. Sixty billion dollars payable on demand in gold in the
course of one single year. The actual amount of such obligations called for
six times as much monetary gold as there is in the world. Such transactions
represent a grant in the course of one single years of about $7,000,000 to
every member of the Fed.

"Is it any wonder that American labor which ultimately pays the cost of all
banking operations of this Country has at last proved unequal to the task of
supplying this huge total of cash and credit for the benefit of the stock
market manipulators and foreign swindlers? "In 1933 the Fed presented the
staggering amount of $60,598,690,000 to its member banks at the expense of
the wage earners and tax payers of these United States. In 1929, the year of
the stock market crash, the Fed advanced $58,000,000,000 to member banks.

"In 1930 while the speculating banks were getting out of the stock market at
the expense of the general public, the Fed advanced them $13,022,782,000.
This shows that when the banks were gambling on the public credit of these
United States as represented by the Fed currency they were subsidized to any
amount they required by the Fed. When the swindle began to fall, the bankers
knew it in advance and withdrew from the market. They got out with whole
skins- and left the people of these United States to pay the piper. "My
friend from Kansas, Mr. McGugin, has stated that he thought the Fed lent
money on rediscounting. So they do, but they lend comparatively little that
way. The real discounting that they do has been called a mere penny in the
slot business. It is too slow for genuine high flyers. They discourage it.
They prefer to subsidize their favorite banks by making them $60,000,000,000
advances and they prefer to acquire assistance in the notorious open
discount market in New York, where they can use it to control the price of
stocks and bonds on the exchanges.

"For every dollar they advanced on discounts in 1928, they lent $33.00 to
their favorite banks for whom they do a business of several billion dollars
income tax on their profits to these United States.

The John Law Swindle

"This is the John Law swindle over again. The theft of Teapot Dome was
trifling compared to it. What King ever robbed his subject to such an extent
as the Fed has robbed us? Is it any wonder that there have been lately
ninety cases of starvation in one of the New York hospitals? Is there any
wonder that the children are being abandoned?

"The government and the people of these United States have been swindled by
swindlers deluxe to whom the acquisition of American or a parcel of Fed
Notes presented no more difficulty than the drawing up of a worthless
acceptance in a Country not subject to the laws of these United States, by
sharpers not subject to the jurisdiction of these United States, sharpers
with strong banking "fence" on this side of the water, a "fence" acting as a
receiver of a worthless paper coming from abroad, endorsing it and getting
the currency out of the Fed for it as quickly as possible exchanging that
currency for gold and in turn transmitting the gold to its foreign
confederates.

Ivar Kreuger, the Match King!

"Such were the exploits of Ivar Krueger, Mr. Hoover's friend, and his rotten
Wall Street bakers. Every dollar of the billions Kreuger and his gang drew
out of this Country on acceptances was drawn from the government and the
people of the United States through the Fed. The credit of the United States
Government was peddled to him by the Fed for their own private gain. That is
what the Fed has been doing for many years.

"They have been peddling the credit of this Government and the [signature of
this] Government to the swindlers and speculators of all nations. That is
what happens when a Country forsakes its Constitution and gives its
sovereignty over the public currency to private interests. Give them the
flag and they will sell it.

"The nature of Kreuger's organized swindle and the bankrupt condition of
Kreuger's combine was known here last June when Hoover sought to exempt
Krueger's loan to Germany of $125,000,000 from the operation of the Hoover
Moratorium. The bankrupt condition of Krueger's swindle was known her last
summer when $30,000,000 was taken from the American taxpayers by certain
bankers in New York for the ostensible purpose of permitting Krueger to make
a loan to Colombia. Colombia never saw that money.

"The nature of Krueger's swindle was known here in January when he visited
his friend, Mr. Hoover, at the White House. It was known here in March
before he went to Paris and committed suicide.

"Mr. Chairman, I think the people of the United States are entitled to know
how many billions of dollars were placed at the disposal of Krueger and his
gigantic combine by the Fed, and to know how much of our Government currency
was issued and lost in the financing of that great swindle in the years
during which the Fed took care of Krueger's requirements.

"A few days ago, the President of the United States with a white face and
shaking hands, went before the Senate of behalf of the moneyed interests and
asked the Senate to levy a tax on the people so that foreigners might know
that these United States would pay its debt to them.

"Most Americans thought it was the other way around. What does these United
States owe foreigners? When and by whom was the debt incurred? It was
incurred by the Fed, when they peddled the signature of the Government to
foreigners- for a Price. It is what the United States Government has to pay
to redeem the obligations of the Fed.

Thieves Go Scot Free

"Are you going to let these thieves get off scot free? Is there one law for
the looter who drives up to the door of the United States Treasury in his
limousine and another for the United States Veterans who are sleeping on the
floor of a dilapidated house on the outskirts of Washington?

"The Baltimore and Ohio Railroad is here asking for a large loan from the
people, and the wage earners and the taxpayers of these United States. It is
begging for a handout from the Government. It is standing, cap in hand, at
the door of the R.F.C. where all the jackals have gathered to the feast. It
is asking for money that was raised from the people by taxation and wants
this money of the poor for the benefit of Kuhn, Loeb and Co., the German
International Bankers.

"Is there one law for the Baltimore and Ohio Railroad and another for the
hungry veterans it threw off its freight cars the other day? Is there one
law for sleek and prosperous swindlers who call themselves bankers and
another law for the soldiers who defended the flag? "The R.F.C. is taking
over these worthless securities from the Investment Trusts with United
States Treasury money at the expense of the American taxpayer and the wage
earner.

"It will take twenty years to redeem our Government. Twenty years of penal
servitude to pay off the gambling debts of the traitorous Fed and to vast
flood of American wages and savings, bank deposits, and the United States
Government credit which the Fed exported out of this country to their
foreign principals.

"The Fed lately conducted an anti-hoarding campaign here. They they took
that extra money which they had persuaded the American people to put into
the banks- they sent it to Europe- along with the rest. In the last several
months, they have sent $1,300,000,000 in gold to their foreign employers,
their foreign masters, and every dollar of that gold belonged to the people
of these United States and was unlawfully taken from them.

Fiat Money

"Mr. Chairman, within the limits of the time allowed me, I cannot enter into
a particularized discussion of the Fed. I have singled out the Fed currency
for a few remarks because there has lately been some talk here of "fiat
money". What kind of money is being pumped into the open discount market and
through it into foreign channels and stock exchanges? Mr. Mills of the
Treasury has spoken here of his horror of the printing presses and his
horror of dishonest money. He has no horror of dishonest money. If he had,
he would be no party to the present gambling of the Fed in the nefarious
open discount market of New York, a market in which the sellers are
represented by 10 discount corporations owned and organized by the very
banks which own and control the Fed.

"Fiat money, indeed!

"What Mr. Mills is fighting for is the preservation, whole and entire, of
the banker's monopoly of all the currency of the United States Government.

"Mr. Chairman, last December, I introduced a resolution here asking for an
examination and an audit of the Fed and all related matters. If the House
sees fit to make such an investigation, the people of these United States
will obtain information of great value. This is a Government of the people,
by the people, for the people. Consequently, nothing should be concealed
from the people. The man who deceives the people is a traitor to these
United States.

"The man who knows or suspects that a crime has been committed and who
conceals and covers up that crime is an accessory to it. Mr. Speaker, it is
a monstrous thing for this great nation of people to have its destinies
presided over by a traitorous government board acting in secret concert with
international usurers.

"Every effort has been made by the Fed to conceal its powers- but the truth
is- the Fed has usurped the Government. It controls everything here and it
controls all of our foreign relations. It makes and breaks governments at
will.

"No man and no body of men is more entrenched in power than the arrogant
credit monopoly which operated the Fed. What National Government has
permitted the Fed to steal from the people should now be restored to the
people. The people have a valid claim against the Fed. If that claim is
enforced the Americans will not need to stand in the bread line, or to
suffer and die of starvation in the streets. Women will be saved, families
will be kept together, and American children will not be dispersed and
abandoned.

"Here is a Fed Note. Immense numbers of the notes are now held abroad. I am
told that they amount to upwards of a billion dollars. They constitute a
claim against our Government and likewise a claim against our peoples' money
to the extent of $1,300,000,000 which has within the last few months been
shipped abroad to redeem Fed Notes and to pay other gambling debts of the
traitorous Fed. The greater part of our money stock has been shipped to
other lands.

"Why should we promise to pay the debts of foreigners to foreigners? Why
should the Fed be permitted to finance our competitors in all parts of the
world? Do you know why the tariff was raised? It was raised to shut out the
flood of Fed Goods pouring in here from every quarter of the globe- cheap
goods, produced by cheaply paid foreign labor, on unlimited supplies of
money and credit sent out of this Country by the dishonest and unscrupulous
Fed.

"The Fed are spending $100,000,000 a week buying government securities in
the open market and are making a great bid for foreign business. They are
trying to make rates so attractive that the human hair merchants and the
distillers and other business entities in foreign land will come her and
hire more of the public credit of the United States Government to pay the
Fed outfit for getting it for them.

World Enslavement Planned

"Mr. Chairman, when the Fed was passed, the people of these United States
did not perceive that a world system was being set up here which would make
the savings of the American school teacher available to a narcotic-drug
vendor in Acapulco. They did not perceive that these United States was to be
lowered to the position of a coolie country which has nothing but raw
material and heart, that Russia was destined to supply the man power and
that this country was to supply the financial power to an "international
superstate". A superstate controlled by international bankers, and
international industrialists acting together to enslave the world for their
own pleasure?

"The people of these United States are being greatly wronged. They have been
driven from their employments. They have been dispossessed from their homes.
They have been evicted from their rented quarters. They have lost their
children. They have been left to suffer and die for lack of shelter, food,
clothing and medicine.

"The wealth of these United States and the working capital have been taken
away from them and has either been locked in the vaults of certain banks and
the great corporations or exported to foreign countries for the benefit of
the foreign customers of these banks and corporations. So far as the people
of the United States are concerned, the cupboard is bare.

"It is true that the warehouses and coal yards and grain elevators are full,
but these are padlocked, and the great banks and corporations hold the keys.

"The sack of these United States by the Fed is the greatest crime in
history.

"Mr. Chairman, a serious situation confronts the House of Representatives
today. We are trustees of the people and the rights of the people are being
taken away from them. Through the Fed the people are losing the rights
guaranteed to them by the Constitution. Their property has been taken from
them without due process of law. Mr. Chairman, common decency requires us to
examine the public accounts of the Government and see what crimes against
the public welfare have been committed.

"What is needed here is a return to the Constitution of these United States.

"The old struggle that was fought out here in Jackson's time must be fought
our over again. The independent United States Treasury should be
reestablished and the Government should keep its own money under lock and
key in the building the people provided for that purpose.

"Asset currency, the devise of the swindler, should be done away with. The
Fed should be abolished and the State boundaries should be respected. Bank
reserves should be kept within the boundaries of the States whose people own
them, and this reserve money of the people should be protected so that the
International Bankers and acceptance bankers and discount dealers cannot
draw it away from them.

"The Fed should be repealed, and the Fed Banks, having violated their
charters, should be liquidated immediately. Faithless Government officials
who have violated their oaths of office should be impeached and brought to
trial.

"Unless this is done by us, I predict, that the American people, outraged,
pillaged, insulted and betrayed as they are in their own land, will rise in
their wrath, and will sweep the money changers out of the temple.

"Mr. Chairman, the United States is bankrupt: It has been bankrupted by the
corrupt and dishonest Fed. It has repudiated its debts to its own citizens.
Its chief foreign creditor is Great Britain, and a British bailiff has been
at the White House and the British Agents are in the United States Treasury
making inventory arranging terms of liquidations!

Great Britain, Partner in Blackmail

"Mr. Chairman, the Fed has offered to collect the British claims in full
from the American public by trickery and corruption, if Great Britain will
help to conceal its crimes. The British are shielding their agents, the Fed,
because they do not wish that system of robbery to be destroyed here. They
wish it to continue for their benefit! By means of it, Great Britain has
become the financial mistress of the world. She has regained the position
she occupied before the World War.

"For several years she has been a silent partner in the business of the Fed.
Under threat of blackmail, or by their bribery, or by their native treachery
to the people of the United States, the officials in charge of the Fed
unwisely gave Great Britain immense gold loans running into hundreds of
millions of dollars. They did this against the law! Those gold loans were
not single transactions. They gave Great Britain a borrowing power in the
United States of billions. She squeezed billions out of this Country by
means of her control of the Fed.

"As soon as the Hoover Moratorium was announced, Great Britain moved to
consolidate her gains. After the treacherous signing away of American rights
at the 7-power conference at London in July, 1931, which put the Fed under
the control of the Bank of International Settlements, Great Britain began to
tighten the hangman's noose around the neck of the United States.

"She abandoned the gold standard and embarked on a campaign of buying up the
claims of foreigners against the Fed in all parts of the world. She has now
sent her bailiff, Ramsey MacDonald, here to get her war debt to this country
canceled. But she has a club in her hands! She has title to the gambling
debts which the corrupt and dishonest Fed incurred abroad.

"Ramsey MacDonald, the labor party deserter, has come here to compel the
President to sign on the dotted line, and that is what Roosevelt is about to
do! Roosevelt will endeavor to conceal the nature of his action from the
American people. But he will obey the International Bankers and transfer the
war debt that Great Britain should pay to the American people, to the
shoulders of the American taxpayers.

"Mr. Chairman, the bank holiday in the several States was brought about by
the corrupt and dishonest Fed. These institutions manipulated money and
credit, and caused the States to order bank holidays.

"These holidays were frame-ups! "They were dress rehearsals for the national
bank holiday which Franklin D. Roosevelt promised Sir Ramsey MacDonald that
he would declare.

"There was no national emergency here when Franklin D. Roosevelt took office
excepting the bankruptcy of the Fed- a bankruptcy which has been going on
under cover for several years and which has been concealed from the people
so that the people would continue to permit their bank deposits and their
bank reserves and their gold and the funds of the United States Treasury to
be impounded in these bankrupt institutions.

"Under cover, the predatory International Bankers have been stealthily
transferring the burden of the Fed debts to the people's Treasury and to the
people themselves. They the farms and the homes of the United States to pay
for their thievery! That is the only national emergency that there has been
here since the depression began.

"The week before the bank holiday ws declared in New York State, the
deposits in the New York savings banks were greater than the withdrawals.
There were no runs on New York Banks. There was no need of a bank holiday in
New York, or of a national holiday.

Roosevelt and the International Bankers

"Roosevelt did what the International Bankers ordered him to do!

"Do not deceive yourself, Mr. Chairman, or permit yourself to be deceived by
others into the belief that Roosevelt's dictatorship is in any way intended
to benefit the people of the United States: he is preparing to sign on the
dotted line! "He is preparing to cancel the war debts by fraud!

"He is preparing to internationalize this Country and to destroy our
Constitution itself in order to keep the Fed intact as a money institution
for foreigners. "Mr. Chairman, I see no reason why citizens of the United
States should be terrorized into surrendering their property to the
International Bankers who own and control the Fed. The statement that gold
would be taken from its lawful owners if they did not voluntarily surrender
it, to private interests, show that there is an anarchist in our Government.

"The statement that it is necessary for the people to give their gold- the
only real money- to the banks in order to protect the currency, is a
statement of calculated dishonesty!

"By his unlawful usurpation of power on the night of March 5, 1933, and by
his proclamation, which in my opinion was in violation of the Constitution
of the United States, Roosevelt divorced the currency of the United States
from gold, and the United States currency is no longer protected by gold. It
is therefore sheer dishonesty to say that the people's gold is needed to
protect the currency.

"Roosevelt ordered the people to give their gold to private interests- that
is, to banks, and he took control of the banks so that all the gold and gold
values in them, or given into them, might be handed over to the predatory
International Bankers who own and control the Fed.

"Roosevelt cast his lot with the usurers. "He agreed to save the corrupt and
dishonest at the expense of the people of the United States.

"He took advantage of the people's confusion and weariness and spread the
dragnet over the United States to capture everything of value that was left
in it. He made a great haul for the International Bankers.

"The Prime Minister of England came here for money! He came here to collect
cash!

"He came here with Fed Currency and other claims against the Fed which
England had bought up in all parts of the world. And he has presented them
for redemption in gold.

"Mr. Chairman, I am in favor of compelling the Fed to pay their own debts. I
see no reason why the general public should be forced to pay the gambling
debts of the International Bankers.

Roosevelt Seizes the Gold

"By his action in closing the banks of the United States, Roosevelt seized
the gold value of forty billions or more of bank deposits in the United
States banks. Those deposits were deposits of gold values. By his action he
has rendered them payable to the depositors in paper only, if payable at
all, and the paper money he proposes to pay out to bank depositors and to
the people generally in lieu of their hard earned gold values in itself, and
being based on nothing into which the people can convert it the said paper
money is of negligible value altogether.

"It is the money of slaves, not of free men. If the people of the United
States permit it to be imposed upon them at the will of their credit
masters, the next step in their downward progress will be their acceptance
of orders on company stores for what they eat and wear. Their case will be
similar to that of starving coal miners. They, too, will be paid with orders
on Company stores for food and clothing, both of indifferent quality and be
forced to live in Company-owned houses from which they may be evicted at the
drop of a hat. More of them will be forced into conscript labor camps under
supervision.

"At noon on the 4th of March, 1933, FDR with his hand on the Bible, took an
oath to preserve, protect and defend the Constitution of the U.S. At
midnight on the 5th of March, 1933, he confiscated the property of American
citizens. He took the currency of the United States standard of value. He
repudiated the internal debt of the Government to its own citizens. He
destroyed the value of the American dollar. He released, or endeavored to
release, the Fed from their contractual liability to redeem Fed currency in
gold or lawful money on a parity with gold. He depreciated the value of the
national currency.

"The people of the U.S. are now using unredeemable paper slips for money.
The Treasury cannot redeem that paper in gold or silver. The gold and silver
of the Treasury has unlawfully been given to the corrupt and dishonest Fed.
And the Administration has since had the effrontery to raid the country for
more gold for the private interests by telling our patriotic citizens that
their gold is needed to protect the currency.

"It is not being used to protect the currency! It is being used to protect
the corrupt and dishonest Fed. "The directors of these institutions have
committed criminal offense against the United States Government, including
the offense of making false entries on their books, and the still more
serious offense of unlawfully abstracting funds from the United States
Treasury! "Roosevelt's gold raid is intended to help them out of the pit
they dug for themselves when they gambled away the wealth and savings of the
American people.

Dictatorship

"The International Bankers set up a dictatorship here because they wanted a
dictator who would protect them. They wanted a dictator who would protect
them. They wanted a dictator who would issue a proclamation giving the Fed
an absolute and unconditional release from their special currency in gold,
or lawful money of any Fed Bank.

"Has Roosevelt relieved any other class of debtors in this country from the
necessity of paying their debts? Has he made a proclamation telling the
farmers that they need not pay their mortgages? Has he made a proclamation
to the effect that mothers of starving children need not pay their milk
bills? Has he made a proclamation relieving householders from the necessity
of paying rent?

Roosevelt's Two Kinds of Laws

"Not he! He has issued one kind of proclamation only, and that is a
proclamation to relieve international bankers and the foreign debtors of the
United States Government.

"Mr. Chairman, the gold in the banks of this country belongs to the American
people who have paper money contracts for it in the form of national
currency. If the Fed cannot keep their contracts with United States citizens
to redeem their paper money in gold, or lawful money, then the Fed must be
taken over by the United States Government and their officers must be put on
trial.

"There must be a day of reckoning. If the Fed have looted the Treasury so
that the Treasury cannot redeem the United States currency for which it is
liable in gold, then the Fed must be driven out of the Treasury.

"Mr. Chairman, a gold certificate is a warehouse receipt for gold in the
Treasury, and the man who has a gold certificate is the actual owner of a
corresponding amount of gold stacked in the Treasury subject to his order.

"Now comes Roosevelt who seeks to render the money of the United States
worthless by unlawfully declaring that it may No Longer be converted into
gold at the will of the holder.

"Roosevelt's next haul for the International Bankers was the reduction in
the pay of all Federal employees.

"Next in order are the veterans of all wars, many of whom are aged and
inform, and other sick and disabled. These men had their lives adjusted for
them by acts of Congress determining the amounts of the pensions, and, while
it is meant that every citizen should sacrifice himself for the good of the
United States, I see no reason why those poor people, these aged Civil War
Veterans and war widows and half-starved veterans of the World War, should
be compelled to give up their pensions for the financial benefit of the
International vultures who have looted the Treasury, bankrupted the country
and traitorously delivered the United States to a foreign foe.

"There are many ways of raising revenue that are better than that barbaric
act of injustice.

"Why not collect from the Fed the amount they owe the U.S. Treasury in
interest on all the Fed currency they have taken from the Government? That
would put billions of dollars into the U.S. Treasury.

"If FDR is as honest as he pretends to be, he will have that done
immediately. And in addition, why not compel the Fed to disclose their
profits and to pay the Government its share?

"Until this is done, it is rank dishonesty to talk of maintaining the credit
of the U.S. Government. "My own salary as a member of Congress has been
reduced, and while I am willing to give my part of it that has been taken
away from me to the U.S. Government, I regret that the U.S. has suffered
itself to be brought so low by the vultures and crooks who are operating the
roulette wheels and faro tables in the Fed, that is now obliged to throw
itself on the mercy of its legislators and charwomen, its clerks, and it
poor pensioners and to take money out of our pockets to make good the
defalcations of the International Bankers who were placed in control of the
Treasury and given the monopoly of U.S. Currency by the misbegotten Fed. "I
am well aware that the International Bankers who drive up to the door of the
United States Treasury in their limousines, look down with scorn upon
members of Congress because we work for so little, while they draw millions
a year. The difference is that we earn, or try to earn, what we get- and
they steal the greater part of their takings.

Enemies of the People They Rob

"I do not like to see vivisections performed on human beings. I do not like
to see the American people used for experimental purposes by the credit
masters of the United States. They predicted among themselves that they
would be able to produce a condition here in which American citizens would
be completely humbled and left starving and penniless in the streets.

"The fact that they made that assertion while they were fomenting their
conspiracy against the United States that they like to see a human being,
especially an American, stumbling from hunger when he walks. "Something
should be done about it, they say. Five-cent meals, or something! "But FDR
will not permit the House of Representatives to investigate the condition of
the Fed. FDR will not do that. He has certain International Bankers to
serve. They not look to him as the man Higher Up who will protect them from
the just wrath of an outraged people.

"The International Bankers have always hated our pensioners. A man with a
small pension is a ward of the Government. He is not dependent upon them for
a salary or wages. They cannot control him. They do not like him. It gave
them great pleasure, therefore, to slash the veterans.

"But FDR will never do anything to embarrass his financial supporters. He
will cover up the crimes of the Fed.

"Before he was elected, Mr. Roosevelt advocated a return to the earlier
practices of the Fed, thus admitting its corruptness. The Democratic
platform advocated a change in the personnel of the Fed. These were campaign
bait. As a prominent Democrat lately remarked to me; "There is no new deal.
The same old crowd is in control."

"The claims of foreign creditors of the Fed have no validity in law. The
foreign creditors were the receivers- and the willing receivers- of stolen
goods! They have received through their banking fences immense amounts of
currency, and that currency was unlawfully taken from the United States
Treasury by the Fed.

"England discovered the irregularities of the Fed quite early in its
operations and through fear, apparently, the Fed have for years suffered
themselves to be blackmailed and dragooning England to share in the business
of the Fed. "The Fed have unlawfully taken many millions of dollars of the
public credit of the United States and have given it to foreign sellers on
the security of the Debt paper of foreign buyers in purely foreign
transactions, and when the foreign buyers refused to meet their obligations
and the Fed saw no honest way of getting the stolen goods back into their
possession, they decided by control of the executive to make the American
people pay their losses!

Conspiracy of War Debts

"They likewise entered into a conspiracy to deprive the people of the U.S.
of their title to the war debts and not being able to do that in the way
they intended, they are now engaged in an effort to debase the American
dollar so that foreign governments will have their debts to this country cut
in two, and then by means of other vicious underhanded arrangements, they
propose to remit the remainder.

"So far as the U.S. is concerned, the gambling counters have no legal
standing. The U.S. Treasury cannot be compelled to make good the gambling
ventures of the corrupt and dishonest Fed. Still less should the bank
deposits of the U.S. be used for that purpose. Still less should the
national currency have been made irredeemable in gold so that the gold which
was massed and stored to redeem the currency for American citizens may be
used to pay the gambling debts of the Fed for England's benefit. "The
American people should have their gold in their own possession where it
cannot be held under secret agreement for any foreign control bank, or world
bank, or foreign nation. Our own citizens have the prior claim to it. The
paper [money men] have in their possession deserves redemption far more than
U.S. currency and credit which was stolen from the U.S. Treasury and
bootlegged abroad.

"Why should the foreigners be made preferred creditors of the bankrupt U.S.?
Why should the U.S. be treated as bankrupt at all? This Government has
immense sums due it from the Fed. The directors of these institutions are
men of great wealth. Why should the guilty escape the consequences of their
misdeeds? Why should the people of these U.S. surrender the value of their
gold bank deposits to pay off the gambling debts of these bankers? Why
should Roosevelt promise foreigners that the U.S. will play the part of a
good neighbor, 'meeting its obligations'?

"Let the Fed meet their own obligations.

"Every member of the Fed should be compelled to disgorge, and every
acceptance banker and every discount corporation which has made illegal
profits by means of public credit unlawfully bootlegged out of the U.S.
Treasury and hired out by the crooks and vultures of the Fed should be
compelled to disgorge.

Federal Reserve Pays No Taxes

"Gambling debts due to foreign receivers of stolen goods should not be paid
by sacrificing our title to our war debts, the assets of the U.S. Treasury-
which belong to all the people of the U.S. and which it is our duty to
preserve inviolate in the people's treasury.

"The U.S. Treasury cannot be made liable for them. The Fed currency must be
redeemed by the Fed banks or else these Fed banks must be liquidated.

"We know from assertions made here by the Hon. John N. Garner,
Vice-President of the U.S. that there is a condition in the [United States
such] would cause American citizens, if they knew what it was, to lose all
confidence in their government.

"That is a condition that Roosevelt will not have investigated. He has
brought with him from Wall Street, James Warburg, the son of Paul M.
Warburg. Mr. Warburg, alien born, and the son of an alien who did not become
naturalized here until several years after this Warburg's birth, is a son of
a former partner of Kuhn, Loeb and Co., a grandson of another partner, a
nephew of a former partner, and a nephew of a present partner.

"He holds no office in our Government, but I am told that he is in daily
attendance at the Treasury, and that he has private quarters there! In other
words, Mr. Chairman, Kuhn, Loeb and Company now has control and occupy the
U.S. Treasury.

Preferred Treatment for Foreigners

"The text of the Executive order which seems to place an embargo on
shipments of gold permits the Secretary of the Treasury, a former director
of the corrupt, to issue licenses at his discretion for the export of gold
coin, or bullion, earmarked or held in trust for a recognized foreign
government or foreign central bank for international settlement. Now, Mr.
Chairman, if gold held in trust for those foreign institutions may be sent
to them, I see no reason why gold held in trust for American as evidenced by
their gold certificates and other currency issued by the U.S. Government
should not be paid to them. "I think that American citizens should be
entitled to treatment at least as good as that which the person is extending
to foreign governments, foreign central banks, and the bank of International
Settlements. I think a veteran of the world war, with a $20.00 gold
certificate, is at least as much entitled to receive his own gold for it, as
any international banker in the city of New York or London.

"By the terms of this executive order, gold may be exported if it is
actually required, for the fulfillment of any contract entered into prior to
the date of this order by an applicant who, in obedience to the executive
order of April 5, 1933, has delivered gold coin, gold bullion, or gold
certificates. "This means that gold may be exported to pay the obligations
abroad of the Fed which were incurred prior to the date of the order,
namely, April 20, 1933.

"If a European Bank should send 100,000,000 dollars in Fed currency to a
bank in this country for redemption, that bank could easily ship gold to
Europe in exchange for that currency. Such Fed currency would represent
"contracts" entered into prior to the date of the order. If the Bank of
International Settlements or any other foreign bank holding any of the
present gambling debt paper of the Fed should draw a draft for the
settlement of such obligation, gold would be shopped to them because the
debt contract would have been entered into prior to the date of order.

Crimes and Criminals

_____

"Mr. Speaker, I rise to a question of constitutional privilege.

"Whereas, I charge. . .Eugene Meyer, Roy A. Young, Edmund Platt, Eugene B.
Black, Adolph Casper Miller, Charles S. Hamlin, George R. James, Andrew W.
Mellon, Ogden L. Mills, William H. Woo W. Poole, J.F.T. O'Connor, members of
the Federal Reserve Board; F. H. Curtis, J.H. Chane, R.L. Austin, George De
Camp, L.B. Williams, W.W. Hoxton, Oscar Newton, E.M. Stevens, J.S. Wood,
J.N. Payton, M.L. McClure, C.C. Walsh, Isaac B. Newton, Federal Reserve
Agents, jointly and severally, with violations of the Constitution and laws
of the United States, and whereas I charge them with having taken funds from
the U.S Treasury which were not appropriated by the Congress of the United
States, and I charge them with having unlawfully taken over $80,000,000,000
from the U.S. Government in the year 1928, the said unlawful taking
consisting of the unlawful creation of claims against the U.S. Treasury to
the extent of over $80,000,000,000 in the year 1928; and I charge them with
similar thefts committed in 1929, 1930, 1931, 1932 and 1933, and in years
previous to 1928, amounting to billions of dollars; and

"Whereas I charge them, jointly and severally with having unlawfully created
claims against the U.S. Treasury by unlawfully placing U.S. Government
credit in specific amounts to the credit of foreign governments and foreign
central banks of issue; private interests and commercial and private banks
of the U.S. and foreign countries, and branches of foreign banks doing
business in the U.S., to the extent of billions of dollars; and with having
made unlawful contracts in the name of the U.S. Government and the U.S.
Treasury; and with having made false entries on books of account; and

"Whereas I charge them jointly and severally, with having taken Fed Notes
from the U.S. Treasury and with having put Fed Notes into circulation
without obeying the mandatory provision of the Fed Act which requires the
Fed Board to fix an interest rate on all issues of Fed Notes supplied to Fed
Banks, the interest resulting therefrom to be paid by the Fed Banks to the
government of the U.S. for the use of the Fed Notes, and I charge them of
having defrauded the U.S. Government and the people of the U.S. of billions
of dollars by the commission of this crime, and

"Whereas I charge them, jointly and severally, with having purchased U.S.
Government securities with U.S. Government credit unlawfully taken and with
having sold the said U.S. Government securities back to the people of the
U.S. for gold or gold values and with having again purchased U.S. Government
securities with U.S. Government credit unlawfully taken and with having
again sold the said U.S. Government security for gold or gold values, and I
charge them with having defrauded the U.S. Government and the people of the
U.S. by this rotary process; and

"Whereas I charge them, jointly and severally, with having unlawfully
negotiated U.S. Government securities, upon which the Government liability
was extinguished, as collateral security for Fed Notes and with having
substituted such securities for gold which was being held as collateral
security for Fed Notes, and with having by the process defrauded the U.S.
Government and the people of the U.S., and I charge them with the theft of
all the gold and currency they obtained by this process; and

"Whereas I charge them, jointly and severally, with having unlawfully issued
Fed currency on false, worthless and fictitious acceptances and other
circulating evidence of debt, and with having made unlawful advances of Fed
currency, and with having unlawfully permitted renewals of acceptances and
renewals of other circulating evidences of debt, and with having permitted
acceptance bankers and discount dealer corporations and other private
bankers to violate the banking laws of the U.S.; and

"Whereas I charge them, jointly and severally, with having conspired to have
evidences of debt to the extent of $1,000,000,000 artificially created at
the end of February, 1933, and early in March 1933, and with having made
unlawful issues and advances of Fed currency on the security of said
artificially created evidences of debt for a sinister purpose, and with
having assisted in the execution of said sinister purpose; and

"Whereas I charge them, jointly and severally, with having brought about the
repudiation of the currency obligations of the Fed Banks to the people of
the U.S. and with having conspired to obtain a release for the Fed Board and
the Fed Banks from their contractual liability to redeem all Fed currency in
gold or lawful money at the Fed Bank and with having defrauded the holders
of Fed currency, and with having conspired to have the debts and losses of
the Fed Board and the Fed Banks unlawfully transferred to the Government and
the people of the U.S., and

"Whereas I charge them, jointly and severally, with having unlawfully
substituted Fed currency and other irredeemable paper currency for gold in
the hands of the people after the decision to repudiate the Fed currency and
the national currency was made known to them, and with thus having obtained
money under false pretenses; and

"Whereas I charge them, jointly and severally, with having brought about a
repudiation of the notes of the U.S. in order that the gold value of the
said currency might be given to private interests, foreign governments,
foreign central banks of issues, and the Bank of International Settlements,
and the people of the U.S. to be left without gold or lawful money and with
no currency other that a paper currency irredeemable in gold, and I charge
them with having done this for the benefit of private interests, foreign
governments, foreign central banks of issue, and the bank of International
Settlements; and

"Whereas I charge them, jointly and severally, with conniving with the Edge
Law banks, and other Edge Law institutions, accepting banks, and discount
corporations, foreign central banks of issue, foreign commercial banks,
foreign corporations, and foreign individuals with funds unlawfully taken
from the U.S. Treasury; and I charge them with having unlawfully permitted
and made possible 'new financing' for foreigners at the expense of the U.S.
Treasury to the extent of billions of dollars and with having unlawfully
permitted and made possible the bringing into the United States of immense
quantities of foreign securities, created in foreign countries for export to
the U.S. and with having unlawfully permitted the said foreign securities to
be imported into the U.S. instead of gold, which was lawfully due to the
U.S. on trade balances and otherwise, and with having lawfully permitted and
facilitated the sale of the said foreign securities in the U.S., and

"Whereas I charge them, jointly and severally, with having unlawfully
exported U.S. coins and currency for a sinister purpose, and with having
deprived the people of the U.S. of their lawful medium of exchange, and I
charge them with having arbitrarily and unlawfully reduced the amount of
money and currency in circulation in the U.S. to the lowest rate per capita
in the history of the Government, so that the great mass of the people have
been left without a sufficient medium of exchange, and I charge them with
concealment and evasion in refusing to make known the amount of U.S. money
in coins and paper currency exported and the amount remaining in the U.S. as
a result of which refusal the Congress of the U.S. is unable to ascertain
where the U.S. coins and issues of currency are at the present time, and
what amount of U.S. currency is now held abroad; and

"Whereas I charge them, jointly and severally, with having arbitrarily and
unlawfully raised and lowered the rates of money and with having arbitrarily
increased and diminished the volume of currency in circulation for the
benefit of private interests at the expense of the Government and the people
of the U.S. and with having unlawfully manipulated money rates, wages,
salaries and property values both real and personal, in the U.S. by unlawful
operations in the open discount market and by resale and repurchase
agreements unsanctioned by law, and

"Whereas I charge them jointly and severally, with having brought about the
decline in prices on the New York Stock Exchange and other exchanges in
October, 1929, by unlawful manipulation of money rates and the volume of
U.S. money and currency in circulation: by theft of funds from the U.S.
Treasury by gambling in acceptances and U.S. Government securities; by
service rendered to foreign and domestic speculators and politicians, and by
unlawful sale of U.S. gold reserves abroad, and

"Whereas the unconstitutional inflation law imbedded in the so-called Farm
Relief Act by which the Fed Banks are given permission to buy U.S.
Government securities to the extent of $3,000,000,000 and to drew forth
currency from the people's Treasury to the extent of $3,000,000,000 is
likely to result in connivance on the part of said accused with others in
the purchase by the Fed of the U.S. Government securities to the extent of
$3,000,000,000 with U.S. Government's own credit unlawfully taken, it being
obvious that the Fed do no not intend to pay anything of value to the U.S.
Government for the said U.S. Government securities no provision for payment
in gold or lawful money appearing in the so-called Farm Relief bill- and the
U.S. Government will thus be placed in a position of conferring a gift of
$3,000,000,000 in the U.S. Government securities on the Fed to enable them
to pay more on their bad debts to foreign governments, foreign central banks
of issue, private interests, and private and commercial banks, both foreign
and domestic, and the Bank of International Settlements, and

"Whereas the U.S. Government will thus go into debt to the extent of
$3,000,000,000 and will then have an additional claim of $3,000,000,000 in
currency unlawfully created against it and whereas no private interest
should be permitted to buy U.S. Government securities with the Government's
own credit unlawfully taken and whereas currency should not be issued for
the benefit of said private interest or any interests on U.S. Government
securities so acquired, and whereas it has been publicly stated and not
denied that the inflation amendment of the Farm Relief Act is the matter of
benefit which was secured by Ramsey MacDonald, the Prime Minister of Great
Britain, upon the occasion of his latest visit to the U.S. Treasury, and
whereas there is grave danger that the accused will employ the provision
creating U.S. Government securities to the extent of $3,000,000,000 and
three millions in currency to be issuable thereupon for the benefit of
themselves and their foreign principals, and that they will convert the
currency so obtained to the uses of Great Britain by secret arrangements
with the Bank of England of which they are the agents, and for which they
maintain an account and perform services at the expense of the U.S.
Treasury, and that they will likewise confer benefits upon the Bank of
International Settlements for which they maintain an account and perform
services at the expense of the U.S. Treasury; and

"Whereas I charge them, jointly and severally, with having concealed the
insolvency of the Fed and with having failed to report the insolvency of the
Fed to the Congress and with having conspired to have the said insolvent
institutions continue in operation, and with having permitted the said
insolvent institutions to receive U.S. Government funds and other deposits,
and with having permitted them to exercise control over the gold reserves of
the U.S. and with having permitted them to transfer upward of
$100,000,000,000 of their debts and losses to the general public and the
Government of the U.S., and with having permitted foreign debts of the Fed
to be paid with the property, the savings, the wages, and the salaries of
the people of the U.S. and with the farms and the homes of the American
people, and whereas I charge them with forcing the bad debts of the Fed upon
the general public covertly and dishonestly and and with taking the general
wealth and savings of the people of the U.S. under false pretenses, to pay
the debts of the Fed to foreigners; and

"Whereas I charge them, jointly and severally, with violations of the Fed
Act and other laws; with maladministration of the h evasions of the Fed Law
and other laws; and with having unlawfully failed to report violations of
law on the part of the Fed Banks which, if known, would have caused the Fed
Banks to lose their charters, and

"Whereas I charge them, jointly and severally, with failure to protect and
maintain the gold reserves and the gold stock and gold coinage of the U.S.
and with having sold the gold reserves of the U.S to foreign Governments,
foreign central banks of issue, foreign commercial and private banks, and
other foreign institutions and individuals at a profit to themselves, and I
charge them with having sold gold reserves of the U.S. so that between 1924
and 1928 the U.S. gained no gold on net account but suffered a decline in
its percentage of central gold reserves from the 45.9 percent in 1924 to
37.5 percent in 1928 notwithstanding the fact that the U.S. had a favorable
balance of trade throughout that period, and

"Whereas I charge them, jointly and severally, with having conspired to
concentrate U.S. Government securities and thus the national debt of the
U.S. in the hands of foreigners and international money lenders and with
having conspired to transfer to foreigners and international money lenders
title to and control of the financial resources of the U.S.; and

"Whereas I charge them, jointly and severally, with having fictitiously paid
installments on the national debt with Government credit unlawfully taken;
and

"Whereas I charge them, jointly and severally, with the loss of the U.S.
Government funds entrusted to their care; and

"Whereas I charge them, jointly and severally, with having destroyed
independent banks in the U.S. and with having thereby caused losses
amounting to billions of dollars to the said banks, and to the general
public of the U.S., and

"Whereas I charge them, jointly and severally, with the failure to furnish
true reports of the business operations and the true conditions of the Fed
to the Congress and the people, and having furnished false and misleading
reports to the congress of the U.S., and

"Whereas I charge them, jointly and severally, with having published false
and misleading propaganda intended to deceive the American people and to
cause the U.S. to lose its independence; and

"Whereas I charge them, jointly and severally, with unlawfully allowing
Great Britain to share in the profits of the Fed at the expense of the
Government and the people of the U.S.; and

"Whereas I charge them, jointly and severally, with having entered into
secret agreements and illegal transactions with Montague Norman, Governor of
the Bank of England; and

"Whereas I charge them, jointly and severally, with swindling the U.S.
Treasury and the people of the U.S. in pretending to have received payment
from Great Britain of the amount due on the British ware debt to the U.S. in
December, 1932; and

"Whereas I charge them, jointly and severally, with having conspired with
their foreign principals and others to defraud the U.S. Government and to
prevent the people of the U.S. from receiving payment of the war debts due
to the U.S. from foreign nations; and

"Whereas I charge them, jointly and severally, with having robbed the U.S
Government and the people of the U.S. by their theft and sale of the gold
reserves of the U.S. and other unlawful transactions created a deficit in
the U.S. Treasury, which has necessitated to a large extent the destruction
of our national defense and the reduction of the U.S. Army and the U.S. Navy
and other branches of the national defense; and

"Whereas I charge them, jointly and severally, of having reduced the U.S.
from a first class power to one that is dependent, and with having reduced
the U.S. from a rich and powerful nation to one that is internationally
poor; and

"Whereas I charge them, jointly and severally, with the crime of having
treasonable conspired and acted against the peace and security of the U.S.
and with having treasonable conspired to destroy constitutional Government
in the U.S.

"Resolve, That the Committee on the Judiciary is authorized and directed as
a whole or by subcommittee, to investigate the official conduct of the Fed
agents to determine whether, in the opinion of the said committee, they have
been guilty of any high crime or misdemeanor which in the contemplation the
Constitution requires the interposition of the Constitutional powers of the
House. Such Committee shall report its finding to the House, together with
such resolution or resolutions of impeachment or other recommendations as it
deems proper.

"For the purpose of this resolution the Committee is authorized to sit and
act during the present Congress at such times and places in the District of
Columbia or elsewhere, whether or not the House is sitting, has recessed or
has adjourned, to hold such clerical, stenographic, and other assistants, to
require of such witnesses and the production of such books, papers, and
documents, to take such testimony, to have such printing and binding done,
and to make such expenditures as it deems necessary."

After some discussion and upon the motion of Mr. Byrns, the resolution and
charge was referred to the Committee on the Judiciary.

"Attacks on McFadden's Life Reported"

Commenting on Former Congressman Louis T. McFaddens's "heart-failure
sudden-death" on Oct. 3, 1936, after a "dose" of "intestinal flu," "Pelley's
Weekly" of Oct. 14 said:

Now that this sterling American patriot has made the Passing, it can be
revealed that not long after his public utterance against the encroaching
powers of Judah, it became known among his intimates that he had suffered
two attacks against his life. The first attack came in the form of two
revolver shots fired at him from ambush as he was alighting from a cab in
front of one of the Capital hotels. Fortunately both shots missed him, the
bullets burying themselves in the structure of the cab.

"He became violently ill after partaking of food at a political banquet at
Washington. His life was only saved from what was subsequently announced as
a poisoning by the presence of a physician friend at the banquet, who at
once procured a stomach pump and subjected the Congressman to emergency
treatment."

/s/ Robert Edward Edmondson (Publicist-Economist)

President Andrew Jackson stated in reference to the bankers at the state of
his administration:

"You are a den of vipers and thieves.

I intend to rout you out, and by the Eternal God, I will rout you out."

_____

<http://home.hiwaay.net/%7Ebecraft/ [4]>

_____

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