Highlights:
<ul>
<li>The Federal Reserve controls America's money supply</li>
<li>It was put in to place by President Woodrow Wilson in 1913.</li>
<li>American currency stopped being backed by gold in 1971.</li>
</ul>
Headline:
The Federal Reserve is the banking system that controls all the currency of the United States. The Federal Reserve was put in place in 1913 by President Woodrow Wilson as a result of the Panic of 1907.
Notes:
<h2>Purpose of Federal Reserve</h2>
[nodeinsert nid=145 align=right]
<ol>
<li>To address banking panics</li>
<li>To serve as the central bank for the United States</li>
<li>To strike a balance between private interests of banks and the centralized responsibility of government
<ul>
<li>supervising and regulating banking institutions</li>
<li>protect the credit rights of consumers</li>
</ul>
</li>
<li>To manage the nation's money supply through monetary policy
<ul>
<li>maximum employment</li>
<li>stable prices</li>
<li>moderate long-term interest rates</li>
</ul>
</li>
<li>Maintain the stability of the financial system and containing systemic risk in financial markets</li>
<li>Providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation’s payments system
<ul>
<li>facilitate the exchange of payments among regions</li>
<li>to be responsive to local liquidity needs</li>
</ul>
</li>
<li>Strengthen U.S. standing in the world economy</li>
</ol>
Quotes & References
The IMF / World Bank is the protege of the Federal Reserve. It would not exist without the flow of American dollars and the benevolence of American leadership. The Fed has become an accomplice in the support of totalitarian regimes throughout the world.
— G. Edward Griffin; The Creature From Jekyll Island
The counterfeit options is available only if a country happens to be in the unique position of having its currency accepted as the medium of international trade, as has been the case for the United States. In that event, it is possible to create money out of nothing, and other nations have no choice but to accept it. Thus, for years, the United States has been able to spend more money than it earned in trade by having the Federal Reserve create whatever it needed.
[...] The result is that America has continued to finance its trade deficit with fiat money - counterfeit, if you will - a feat which no other nation in the world could hope to accomplish.
[...] In truth, America is not hurt by a trade deficit at all. In fact, we are the benefactors while or trading partners are the victims. We get the cars and TV sets while they get the funny money. We get the hardware. They get the paperware.
[...] But when the day arrives - as it certainly must - when the dollar tumbles and foreigners no longer want it, the free ride will be over. When that happens, hundreds of billions of dollars that are now resting in foreign countries will quickly come back to our shores as people everywhere in the world attempt to convert them into yet more real estate, factories, and tangible products, and to do so as quickly as possible before they become even more worthless. As this flood of dollars bids up prices, we will finally experience the inflation that should have been caused in years past but which was postponed because foreigners were kind enough to take the dollars out of our economy in exchange for their products.
The chickens will come home to roost. But, when they do, it will not be because of the trade deficit. It will be because we were able to finance the trade deficit with fiat money created by the Federal Reserve. If it were not for that, the trade deficit could not have happened.
— G. Edward Griffin; The Creature From Jekyll Island
Through a complex tangle of bank loans, subsidies, and grants, the Federal Reserve is becoming the "lender of last resort" for virtually the entire planet.
— G. Edward Griffin; The Creature From Jekyll Island
The savings-and-loan industry, is really a cartel within a cartel. It could not function without Congress standing by to push unlimited amounts of money into it. And Congress could not do that without the banking cartel called the Federal Reserve System standing by as the "lender of last resort" to create money out of nothing for Congress to borrow. [...]
The thrifts [S&Ls] have become the illegitimate half-breed children of the Creature. [...]
If America is to survive as a free nation, her citizens must become far more politically educated than they are at present. As a people, we must learn not to reach for every political carrot dangled in front of us. As desirable as it may be for everyone to afford a home, we must understand that government programs pretending to make that possible actually wreak havoc with our system and bring about just the opposite of what they promise.
— G. Edward Griffin; The Creature From Jekyll Island
The scam could never work unless the Fed was able to create money out of nothing and pump it into the banks along with "credit" and "liquidity" guarantees. Which means, if the loans go sour, the money is eventually extracted from the American people through the hidden tax called inflation. That's the meaning of the phrase "lender of last resort."
— G. Edward Griffin; The Creature From Jekyll Island
One of the standard variations of the Final Maneuver is for the government, not always to directly provide the finds, but to provide the credit for the funds. That means to guarantee future payments should the borrower again default. Once Congress agrees to this, the government becomes a co-signer to the loan, and the inevitable losses are finally lifted from the ledger of the bank and placed onto the backs of the American taxpayer.
Money now begins to move into the banks through a complex system of federal agencies, international agencies, foreign aid, and direct subsidies. All of these mechanisms extract payments from the American people and channel them to the deadbent borrowers who then send them to the banks to service their loans. Very little of this money actually comes from taxes. Almost all of it is generated by the Federal Reserve System. When this newly created money returns to the banks, it quickly moves out again into the economy where it mingles with and dilutes the value of the money already there. The result is the appearance of rising prices but which, in reality, is a lowering of the value of the dollar.
The American people have no idea they are paying the bill. They know that someone is stealing their hub caps, but they think it is the greedy businessman who raises prices or the selfish laborer who demands higher wages or the unworthy farmer who demands too much for his crop or the wealthy foreigner who bids up our prices. They do not realize that these groups also are victimized by a monetary system which is constantly being eroded in value by and through the Federal Reserve System.
— G. Edward Griffin; The Creature From Jekyll Island
Since its [The Fed] inception, it has presided over the crashes of 1921 and 1929; the Great Depression of '29 to '39; recessions in '53, '57, '69, '75, and '81; a stock market "Black Monday" in '87; and a 100% inflation which has destroyed 90% of the dollar's purchasing power.
— G. Edward Griffin; The Creature From Jekyll Island
Here, then, were the main challenges that faced that tiny but powerful group assembled on Jekyll Island:
- How to stop the growing influence of small, rival banks and to insure that control over the nation's financial resources would remain in the hands of those present;
- How to make the money supply more elastic in order to reverse the trend of private capital formation and to recapture the industrial loan market;
- How to pool the meager reserves of the nation's banks into one large reserve so that all banks will be motivated to follow the same loan-to-deposit ratios. This would protect at least some of them from currency drains and bank runs;
- Should this lead eventually to the collapse of the whole banking system, then how to shift the losses from the owners of the banks to the taxpayers.
- How to convince Congress that the scheme was a measure to protect the public.
— G. Edward Griffin; The Creature From Jekyll Island
Here were representatives of the world's leading banking consortia: Morgan, Rockefeller, Rothschild, Warburg, and Kuhn-Loeb. They were often competitors, and there is little doubt that there was considerable distrust between them and skillful maneuvering for favored position in any agreement. But they were driven together by one overriding desire to fight their common enemy. The enemy was competition.
— G. Edward Griffin; The Creature From Jekyll Island
The purpose of this meeting on Jekyll Island was not to hunt dicks. Simply stated, it was to come to an agreement on the structure and operation of a banking cartel. The goal of the cartel, as is true with all of them, was to maximize profits by minimizing competition between members, to make it difficult for new competitors to enter the field, and to utilize the police power of government to enforce the cartel agreement. In more specific terms, the purpose and, indeed, the actual outcome of this meeting was to create the blueprint for the Federal Reserve System.
— G. Edward Griffin; The Creature From Jekyll Island
The Venetians control the Federal Reserve System; they lend to us, but we do not lend to them; they are the head, and we are the tail.
— Eustace Mullins; The Curse of Canaan
Because once they got the Federal Reserve into position, locked into position illegally, but locked into a position of power, then they could put on the dollar "Annuit Coeptis," "Our Enterprise is now a Success," meaning, "We have now taken over America, and America was sound asleep and didn't even know it." So what I'm saying is that we have all been had.
— Jordan Maxwell; Matrix of Power
They [the bankers] pushed the bill through just before Christmas 1913 when many Congressmen were already at home with their families for the holiday. Now they could control American interest rates and make a fortune lending the government money that doesn’t exist and charging interest on it.
— David Icke; The Biggest Secret
When the Federal Reserve Bill was going before Congress the bankers who had written the bill vehemently opposed it in public. The bankers were very unpopular by this time and they wanted to give the impression that the bill was bad for them, so increasing the public support for it to be passed.
— David Icke; The Biggest Secret
1902, the Rothschilds sent their agents, Paul and Felix Warburg, to America to engineer the creation of the Federal Reserve.
— David Icke; The Biggest Secret
The Bank of the United States caused so much poverty, bankruptcy and rebellion, that it was eventually closed down, but soon after that came its replacement, the Federal Reserve. The Rothschild’s main banking operation in America in the early part of this century was Kuhn, Loeb and Company in New York which was headed by Jacob Schiff.
— David Icke; The Biggest Secret
One of the Brotherhood’s most important coups was the creation in 1913 of the Federal Reserve, the so-called ‘central bank’ of the United States. It is neither federal nor has any reserve. It is a cartel of private banks owned by the 20 founding families, mostly European, which today decides the interest rates for the United States and lends non-existent money (figures on a screen) to the US Government on which the taxpayers have to pay interest. This is what we call the ‘American Deficit’ - it is fresh air. The Federal Government of the United States does not own a single share in the Federal Reserve and American citizens cannot purchase them.
Profits exceed $150 billion a year and the Federal Reserve has not once in all its history published audited accounts. This income is assured because:
1. the Brotherhood control the US Government (the Virginia Company under another name) which continues to borrow ‘money’ from the ‘Fed’
2. they also control the privately-owned Internal Revenue Service (IRS), the illegal terrorist organization which collects the taxation from the people
3. it controls the media to ensure that people never find out about 1 and 2
— David Icke; The Biggest Secret
Patriots believe that the creation of money by the private banks is unconstitutional in the United States because the Constitution says that Congress must create the currency. But it doesn’t say that. Article One, Section 8, says that: “Congress shall have the power to coin money and regulate the value thereof.” It does not say (on purpose) that only Congress shall have that power, nor that they have to use that power. Section 10 says that no State shall coin money and that gold and silver coins shall be the only payment of debts. So paper money must be unconstitutional? No. An area of Maryland was given to the new Congress to create the District, not the State, of Columbia for the new federal capital called Washington DC. Within this district is the privately-owned central bank of America, the Federal Reserve, which issues the nations paper currency. The District of Columbia is effectively isolated from many of clauses in the Constitution which apply to the States. The main Founding Fathers would have known that.
— David Icke; The Biggest Secret
The interest on the national debt must be paid, and is paid, by the Treasury of the United States issuing T-Bills and Treasury Notes.
— Lindsey Williams; Interview
The Biggest Problem Facing America: The Federal Reserve
Headline:
The Federal Reserve is the cornerstone to all the problems facing America. It is a complete fraud and serves nobody but the bankers owning it. Our debt continues to rise and there is no realistic way to pay it off.
Rothschild says it best:
"I care not what puppet is placed on the throne of England to rule the Empire, ...The man that controls Britain's money supply controls the British Empire. And I control the money supply."Baron Nathan Mayer Rothschild
Most Americans have been tricked into thinking that the Federal Reserve is in place to help against money crises and inflation when this couldn't be further from the truth.
Origins
The Federal Reserve was originally planned by a small elite group of bankers, namely: J.P. Morgan, Nelson Aldrich and Paul Warburg to name a few. At the time this group of individuals controlled 1/6 of the world's money.
The group originally met in extreme secrecy in at Jekyll Island.
Who Really Owns The Federal Reserve
The BS Government answer:
The Federal Reserve System is not owned by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.
As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."
The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.http://www.federalreserve.gov/pf/pf.htm
The Non-BS Answer:
N. M. Rothschild , London - Bank of England
__________________|___________________
| |
| J. Henry Schroder
| Banking |Corp.
| |
Brown, Shipley - Morgan Grenfell - Lazard - |
& Company & Company Brothers |
| | | |
--------------------| -------| | |
| | | | | |
Alex Brown - Brown Bros. - Lord Mantagu - Morgan et Cie -- Lazard ---|
& Son | Harriman Norman | Paris Bros |
| | / | N.Y. |
| | | | | |
| Governor, Bank | J.P. Morgan Co -- Lazard ---|
| of England / N.Y. Morgan Freres |
| 1924-1938 / Guaranty Co. Paris |
| / Morgan Stanley Co. | /
| / | \Schroder Bank
| / |
Hamburg/Berlin
| / Drexel & Company /
| / Philadelphia /
| / /
| / Lord Airlie
| / /
| / M. M. Warburg Chmn J. Henry Schroder
| | Hamburg --------- marr. Virginia F. Ryan
| | | grand-daughter of Otto
| | | Kahn of Kuhn Loeb Co.
| | |
| | |
Lehman Brothers N.Y. --------------- Kuhn Loeb Co. N. Y.
| | ------------------------
| | | |
| | | |
Lehman Brothers - Mont. Alabama Solomon Loeb Abraham Kuhn
| | __|______________________|_________
Lehman-Stern, New Orleans Jacob Schiff/Theresa Loeb Nina Loeb/Paul Warburg
------------------------- | | |
| | Mortimer Schiff James Paul Warburg
_____________|_______________/ |
| | | | |
Mayer Lehman | Emmanuel Lehman \
| | | \
Herbert Lehman Irving Lehman \
| | | \
Arthur Lehman \ Phillip Lehman John Schiff/Edith Brevoort Baker
/ | Present Chairman Lehman Bros
/ Robert Owen Lehman Kuhn Loeb - Granddaughter of
/ | George F. Baker
| / |
| / |
| / Lehman Bros Kuhn Loeb (1980)
| / |
| / Thomas Fortune Ryan
| | |
| | |
Federal Reserve Bank Of New York |
| | |
______National City Bank N. Y. |
| | |
| National Bank of Commerce N.Y. --|
| | \
| Hanover National Bank N.Y. \
| | \
| Chase National Bank N.Y. \
| |
| |
Shareholders - National City Bank - N.Y. |
-------------------------------------------|
| /
James Stillman /
Elsie m. William Rockefeller /
Isabel m. Percy Rockefeller /
William Rockefeller Shareholders - National Bank of Commerce N. Y.
J. P. Morgan
-----------------------------------------------
M.T. Pyne Equitable Life - J.P. Morgan
Percy Pyne Mutual Life - J.P. Morgan
J. W. Sterling H. P. Davison - J. P. Morgan
NY Trust/NY Edison Mary W. Harriman
Shearman & Sterling A.D. Jiullard - North British Merc. Ins.
| Jacob Schiff
| Thomas F. Ryan
| Paul Warburg
| Levi P. Morton - Guaranty Trust
| J. P. Morgan
|
|
Shareholders - First National Bank of N.Y.
- -------------------------------------------
J.P. Morgan
George F. Baker
George F. Baker Jr.
Edith Brevoort Baker
US Congress - 1946-64
|
|
|
|
|
Shareholders - Hanover National Bank N.Y.
- ------------------------------------------
James Stillman
William Rockefeller
|
|
|
|
|
Shareholders - Chase National Bank N.Y.
- ---------------------------------------
George F. Baker
http://www.bibliotecapleyades.net/sociopolitica/esp_sociopol_fed07.htm
How come this isn't on the nightly news?
How The Federal Reserve Works
The Federal Reserve is funded by a group of international bankers that loan the American government its money with an interest rate. In order to pay off the debt and interest more money is required for the Federal Reserve. When the government needs more money the bankers simply loan more money. Once this simple pattern is understood it becomes pretty easy to see how this is a loosing battle and only one outcome is possible: DEBT. This system is basically sucking all the money out of American's pockets and putting it into the banker's pockets.
Quinton Posted: July 6, 2008 
4 Comments
gbrother62568
Please look at the video clip located at:
http://www.youtube.com/watch?v=rYM4REN9Xxk
It is titled: Zeitgeist Debunked Again
Explain why it is wrong or inaccurate. I want to know the true facts. Arguing a point that is incorrect will destroy credibility.
Quinton
Thank you for the comment and video :). It's always nice to hear the other side.
I watched the video and would like to leave my comments on it, but first I want to do a bit more research so I can present as solid of an opinion as possible.
Quinton
He's a sharp guy, but I think he is missing some important concepts.
The Big Picture
I don't know all the details to the Federal Reserve and I'm sure not many do. What I do know, is that whether his points are true or not they are irrelevant.
First, it is perfectly normal and healthy for banks to collapse in a free market. That is the whole idea of capitalism. The markets will correct themselves. If a bank goes under so be it. That's part of business. They are going to have to do some hard work to get back on their feet. It's just work.
The problem is, most people think that it is not healthy for multiple banks to crash and if they do our whole system will collapse. Sure it will experience a temporary upset but there are so many reasons on why this is the free way to go, namely at least we will come out of this free. As you have now seen with the recent consolidation swipe a lot of our main banks were picked off by the government. Big government always ends in communism, socialism or anything else that enslaves the people. A once free nation just lost a huge piece of its freedom overnight.
He may be right about some of the details on the Federal Reserve, but it's irrelevant. All you have to do is look at our current economic government consolidation to know that something is not right.
The sad reality is, most people want the government to take care of them because nobody understands hard work anymore. We are like the spoiled rich kids that get everything handed to them and have no character or substance.
Some of his points
Lusitania
The sinking of the ship argument doesn't make sense. If they did wait 2 years that is almost the EXACT same model they used for 9/11 which led to Iraq. The invasion of Iraq was around 2 years after 9/11 and you're going to tell me those 2 events are not related? I mean it couldn't have been better timing and as anybody knows, it's all about slow changes with these boys.
Amero
He builds up the US dollar like it's the best. I'm not sure if he's aware of all the bank failures and all the banks being gobbled up by the government. I mean, all you have to do is open your eyes to see that this is exactly what is happening. The dollar is on its way out. They have been in secret long enough and now in order to go for the final stages they have to come out in the open, but fortunately if everything sucks bad enough people will be begging for the Amero to save them.
Aaron Russo not warning about 9/11
From listening to the Aaron Russo interview, it is of my understanding that they didn't tell him the details of 9/11. They told him a big event was going to happen and people were going to be searching through caves trying to find the people behind it. What was he supposed to make of this? Even if he did have all the details and told people would it matter? People are telling you that the US economy is collapsing and more government consolidation is coming in but he doesn't believe them. David Icke has been saying who's really running the show for years and nobody believes him. I don't see him on the news despite the warnings. People will believe whatever they want to believe. But as soon as it's too late it's people's fault for not warning anyone? Maybe it's the fault of the people for not listening.
And here are some people that did warn about 9/11: Bill Cooper, Alex Jones, David Icke and these people didn't even need to hear it from word of mouth. The evidence led them to it.
RFID
The technology is somewhat irrelevant. We already have the main concepts of RFID. Credit is credit, debt is debt. Nobody owns any hard assets anyway. It doesn't matter whether they use cards or RFID for the most part. And RFID is about more than just money and information on people.
Conclusion
I think he's right on some stuff and wrong on others. Overall, people are always going to disagree on some points and agree on others. I'm sure he didn't think everything Zeitgeist presented was incorrect.
I totally respect somebody actually doing some homework rather than just listening to what others say. Congrats to him for making the debunking video and doing some homework. If only we could get some Americans to do some homework ;).
ventana
i have a book here call modern money mechanics that explains how the fed and money supply works.
it was printed in 1965 and also shows in detail how the fractional bank system works to expand the money supply.
if you would like a copy quinton i'm willing to send you one .
i don't think that you can find it a you local libraries, it's a hard book to get.
so let me know if you want a copy of mine.