The Federal Reserve Scam


"For the LOVE OF MONEY is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows." I Timothy 6:10

Do you think Jesus knew what he was talking about? After reading the following information you will know for sure that he did. You will learn that those who create and control the money are indeed the ROOT of the worst EVILS that plague the people of the world today.



Click a link to start learning and let me know if any links are broken. Be sure to visit often since this website is a work in progress and will be updated regularly.

by Sheldon Emry

Learn how the Banksters control money and credit and use their control to plunder America and put the people in bondage.

In the early 1930's, Bankers, the only source of new money and credit, deliberately refused loans to industries, stores and farms. Payments on existing loans were required however, and money rapidly disappeared from circulation. Goods were available to be purchased, jobs waiting to be done, but the lack of money brought the nation to a standstill. By this simple ploy America was put into a "depression" and the greedy Bankers took possession of hundreds of thousands of farms, homes, and business properties.

Banking & Federal Reserve Quotes

"Give me control of a nation's money and I care not who makes it's laws." - Mayer Amschel Bauer Rothschild

"This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson] signs this bill, the invisible government of the monetary power will be legalized... the worst legislative crime of the ages is perpetrated by this banking and currency bill." - Charles A. Lindbergh, Sr. 1913

"Some people think the Federal Reserve Banks are the United States government's institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers" - Congressional Record 12595-12603 - Louis T. McFadden, Chairman of the Committee on Banking and Currency (12 years) June 10, 1932

"The Federal Reserve bank buys government bonds without one penny..." - Congressman Wright Patman, Congressional Record, Sept 30, 1941

"Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States" - Sen. Barry Goldwater (Rep. AR)

"The regional Federal Reserve banks are not government agencies... but are independent, privately owned and locally controlled corporations." - Lewis vs. United States, 680 F. 2d 1239 9th Circuit 1982

"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford


First, letís determine what the Federal Reserve System isnít. It isnít a government entity as most believe. While the name was carefully crafted to deceive, it isnít a Federal institution nor does it have any reserve. The fact of the matter is, itís an international banking cartel made of the largest banking and financial personalities in the world. Now if that doesnít at least raise an eyebrow, this should. The federal income taxes you pay donít go to run the government, this ceased years ago. The federal taxes you pay go to the Federal Reserve to be loaned to the USA and other countries. Just imagine; we pay all our taxes to the fed who in turns lends that and more back to us with interest.

All tax dollars go to the Federal Reserve. For every $1 the Federal Reserve receives, it loans $10. Where does this $10 come from? Itís simply created from absolutely nothing. But the real kicker, the Fed charges interest on the entire $10, so in essence theyíre collecting high interest on nothing from the American people. Then to make matters worse, they artificially induce inflation to increase interest payments on that nothing. Quite a productive scam if I might say so myself. Some might even classify this as criminal.


THE definitive work on the Federal Reserve System. Mullins takes his readers behind the scenes and lays bare the WHO, WHAT, WHERE, WHEN, and HOW of what Congressman Louis T. McFadden described as "one of the most corrupt institutions the world has ever known." Mullins explains why the Fed must be abolished if the United States is to survive as a free and independent nation. Your future -- and that of our posterity -- is on the line.

You can read the book online but be sure to click on the link and download a copy to your computer.

The Creature from Jekyll Island: A Lecture on the Federal Reserve

G. Edward Griffin exposes the most blatant scam of all history. Itís all here: the cause of wars, boom-bust cycles, inflation, depression, prosperity. It's just exactly what every American needs to know about the power of the central bank.

Download the file and listen to it or read it here:

Eustace Mullins on the Pastor Pete Peterson radio program-

5)  An Interview with Eustace Mullins- Interviewed by Tom Valentine

VALENTINE: There's a lot of people that don't really understand why you and I will say that the federal reserve is the biggest problem America has. Put together: why is it and how... Tell the story of how it came to pass.

MULLINS: Well they had a secret meeting at the millionaires club, on Thanksgiving of 1910, at Jekyll Island, Georgia. Which, at that time, the members of the Jekyll Island club controlled one-sixth of the wealth of the entire world. These people were very powerful: Rockefeller, Morgan, Aldrich... The same people, by the way, the same banking houses, which are running the world today, they got together in 1910. And this "federal reserve" was simply a takeover scheme! It was sort of like a Mafia group of chieftains, getting together for the biggest robbery in history!

VALENTINE: And Nelson Aldrich was a very powerful senator. And he was related to the Rothschilds, I mean to Rockefellers, and so he was the one that pushed it through Congress.

MULLINS: Well, he certainly was. And also, he was the chairman at this secret meeting down there. And of course, his daughter married John D. Rockefeller, Jr. So that's how he had a grandson named Nelson Aldrich Rockefeller.

VALENTINE: O.K. Now. Nelson Rockefeller's a very familiar name -- the grandson.

Now these fellows: why would commercial bankers like this -- the House of Morgan, and I believe even the European bankers are in on this, are they not?

MULLINS: Oh yeah. Well this meeting was actually commissioned by Albert Rothschild of London. It was a Rothschild meeting, really.


JOHN: Now an author named "Wexler"(sp?) in Merchant Bankers says that Baron Rothschild set up the world's most extensive, effective, efficient, worldwide intelligence system two centuries ago. I prefer to believe that it's still intact and that it beats the KGB, or it beats the CIA, even today. Would you comment on that?

VALENTINE: That's an interesting question!

MULLINS: Well it is, that's true. In fact, these intelligence services go back to the Bank of England in 1694. Because bankers found out that when you deal in large sums of money, you have got to have accurate information about the guy you're lending it to and what are his prospects of ever paying you back.

So the intelligence business was not a governmental business; it was a banking business. It always has been a banking business. The CIA, you know, in this country, is called "The Company" because they're very heavily into banking and investments. Bill Casey was one of the biggest operators on Wall Street -- he was head of the CIA.

So this... We're talking... When you talk about international intelligence and James Bond and "007", you're talking about guys who are really working for the bankers.

The Federal Reserve Act by John DiNardo

The Federal Reserve Act of 1913 concocted legislation, to be foisted upon the People's Congress of the United States, that empowered and commissioned this secret cabal of World-dominant bankers to PRINT UNITED STATES CURRENCY, a usurpation of our Constitution's explicit edict empowering ONLY THE UNITED STATES GOVERNMENT to print and coin currency.

This monumental, yet secret fraud had swindled untold billions of REAL dollars from the hands of the American citizenry, from the moment of the birth of the Federal Reserve Act (sneaked through Congress on Christmas Eve, 1913) until the day when one courageous President of the United States, John Fitzgerald Kennedy, determined that he shall return the United States Treasury to its rightful task of printing UNITED STATES SILVER CERTIFICATES, notes that represent REAL money, silver held in reserve by the United States Government -- silver which the U.S. Government promises to pay, upon demand, to the bearer of that certificate. This sterling deed of rescue of America's financial self-determination so angered the supremely powerful Rothschild, Rockefeller, Morgan, and other ensconced banking families, that they ordered the execution of this courageous President John Kennedy who dared serve the interests of his people, the People of the United States of America.

What is the Federal Reserve Bank (FED) and why do we have it?- by Greg Hobbs

The FED is a central bank. Central banks are supposed to implement a country's fiscal policies. A central bank should be good for a country, and they might be if it wasn't for the fact that they are not owned or controlled by the government of the country they are serving. Private central banks, including our FED, operate not in the interest of the public good but for profit.

Who owns the FED? The Rothschilds of London and Berlin; Lazard Brothers of Paris; Israel Moses Seif of Italy; Kuhn, Loeb and Warburg of Germany; and the Lehman Brothers, Goldman, Sachs and the Rockefeller families of New York.

Did you know that the FED is the only for-profit corporation in America that is exempt from both federal and state taxes? The FED takes in about one trillion dollars per year tax free! The banking families listed above get all that money.

Almost everyone thinks that the money they pay in taxes goes to the US Treasury to pay for the expenses of the government. Do you want to know where your tax dollars really go? If you look at the back of any check made payable to the IRS you will see that it has been endorsed as "Pay Any F.R.B. Branch or Gen. Depository for Credit U.S. Treas. This is in Payment of U.S. Oblig." Yes, that's right, every dime you pay in income taxes is given to those private banking families, commonly known as the FED, tax free!

Now to put the frosting on this cake. When was the income tax created? If you guessed 1913, the same year that the FED was created, you get a gold star. Coincidence? What are the odds? If you are going to use the FED to create debt, who is going to repay that debt? The income tax was created to complete the illusion that real money had been lent and therefore real money had to be repaid. And you thought Houdini was good.

Economic Heroin by Alex Wallenwein
Since 1971, all so-called "money" (officially created and circulated currency) has consisted of nothing but debt. All you need to do to verify that is to look at a dollar-bill. It states in big fat letters across the top that it is a "Federal Reserve Note". A "note" is defined in law as a written instrument evidencing a debt. This note is now useable in place for real money only because governments decree by law that these notes shall be "legal tender for all debts, public and private."

In addition to the Fed's outright printing privileges, currency is also created by lower-level banks in the federal reserve system. These banks make "loans" to private and corporate borrowers by creating nothing more than a bookkeeping entry showing a "credit" on the borrower's account. The bank in question simultaneously books an increase in its total "assets" that corresponds to that "credit" - because the borrower now "owes" that debt to the bank, and must work to repay it - or face collection procedures, a "bad credit rating," and eventually a lawsuit or repossession of any collateral.

There are many other links to informative articles about money here.

Book Review: The Creature From Jekyll Island

Has it ever occurred to you that the federal government has no need of taxes for revenue? Are you aware that banks prefer lending to governments because governments seldom repay loans? Do you realize that if all debts, both public and private, were paid, there would be no money at all in circulation? These are only a few of the startling facts that fill the pages of this illuminating expose of the Insider scam called The Federal Reserve System.

The Federal Reserve is PRIVATELY OWNED by Thomas D. Schauf

The FED began with approximately 300 people or banks that became owners (stockholders purchasing stock at $100 per share - the stock is not publicly traded) in the Federal Reserve Banking System. They make up an international banking cartel of wealth beyond comparison (Reference 1, 14). The FED banking system collects billions of dollars (Reference 8, 17) in interest annually and distributes the profits to its shareholders. The Congress illegally gave the FED the right to print money (through the Treasury) at no interest to the FED. The FED creates money from nothing, and loans it back to us through banks, and charges interest on our currency. The FED also buys Government debt with money printed on a printing press and charges U.S. taxpayers interest. Many Congressmen and Presidents say this is fraud (Reference 1,2,3,5,17).

How did it happen? After previous attempts to push the Federal Reserve Act through Congress, a group of bankers funded and staffed Woodrow Wilson's campaign for President. He had committed to sign this act. In 1913, a Senator, Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the Federal Reserve Act through Congress just before Christmas when much of Congress was on vacation (Reference 3, 4, 5). When elected, Wilson passed the FED. Later, Wilson remorsefully replied (referring to the FED), "I have unwittingly ruined my country" (Reference 17, P. 31).

If the media is unbiased, independent and completely thorough, why haven't they discussed the FED? Currently, half the states have at least a grass roots movement in action to abolish the FED, but there's no press coverage. In July, 1968, the House Banking Subcommittee reported that Rockefeller, through Chase Manhattan Bank, controlled 5.9% of the stock in CBS. Furthermore, the bank had gained interlocking directorates with ABC.

In 1974, Congress issued a report stating that the Chase Manhattan Bank's stake in CBS rose to 14.1% and NBC to 4.5% (through RCA, the parent company of NBC). The same report said that the Chase Manhattan Bank held stock in 28 broadcasting firms. After this report, the Chase Manhattan Bank obtained 6.7% of ABC, and today the percentage could be much greater. It only requires 5% ownership to significantly influence the media (Reference 14, P. 56-57). This is only one of 300 wealthy shareholders of the FED. It is believed other FED owners have similar holdings in the media. To control the media, FED bankers call in their loans if the media disagrees with them (Reference 25, P. 134-137).

Rockefeller also controls the Council on Foreign Relations (CFR), the sole purpose of which is to aid in stimulating greater interest in foreign affairs and in a one world government. Nearly every major newscaster belongs to the Council on Foreign Relations. The Council on Foreign Relations controls many major newspapers and magazines. Additionally, major corporations owned by FED shareholders are the source of huge advertising revenues which surely would influence the media (Reference 14, P. 56-59).

Under the Federal Reserve Bank Act, the bankers control our economy. The FED controls interest rates and the amount of money in the economy. These factors determine either economic prosperity or the lack thereof. Bankers are now pushing for a one world government and a cashless society. Why cashless? No cash means no money for drugs, no theft, and the ability to collect taxes on the underground economy. Anyone who wouldn't support a cashless society must be a drug dealer, thief, or tax evader, right? What a cashless society really means is the banks can now control you.

If you could accurately predict future interest rates, inflation and deflation, you would know when to buy or sell stocks and make a bundle of money. The FED has secret meetings (per Congressional Record) to determine future interest rates and the amount of money to be printed. The Securities Exchange Commission (SEC) by law, stops insiders from profiting by privileged information. Congressional records prove that FED bankers routinely hold secret meetings to profit by manipulating the stock market via interest rates and the amount of money they create. FED bankers also profit greatly from economic disasters like the Depression (Reference 22, P. 56). The bankers create inflation, sell their stocks before the market crashes, then buy up stocks at cheaper prices. Bankers admitted this to Congress. This violates the law, yet Congress does not act because these bankers are large political contributors (Reference 17, P. 96-98; Reference 1, P. 162-163; Reference 22, P. 114-170 & P. 136).

By abolishing the FED, we would not pay interest on Federal Reserve Notes. Until it is abolished, the FED has a monopoly on profit on our currency and whether our money supply will be increased or decreased, inflation or depression. The banks are capable of controlling business by controlling who can or cannot obtain a loan.

Robert H. Hemphill (Credit Manager, Federal Reserve Bank in Atlanta): "We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It [the banking problem] is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects are remedied very soon." (Reference 1, P. 247)


You Be The Judge and Jury is a FREE on-line book exposing the acts of rebellion, sedition, insurrection and treason being committed by the Federal Reserve, IRS, and U.S. Government against We the People. The United States Government, Federal Reserve Banks, IRS, the President, Congress, the Supreme Court, the Governors, Lawyers, Judges, FBI, and CIA have been committing treason, rebellion, insurrection, and waging war against its people under the War Powers Act of 1917, as amended, March 9, 1933. Read it and weep! And then take action!!!
  Chapter 1: As We Slept

While we were sleeping somebody stole America. What if you were to wake up one morning to that headline in your morning paper? Well, it's time to WAKE-UP AMERICA, because as we slept, someone has stolen America. The thieves have dismantled our Constitution, eroded our rights and liberties and destroyed our economy.

The following is taken from a conversation with Mr. Ron Supinski of the Public Information Department of the San Francisco, Federal Reserve Bank. This is an account of that conversation reconstructed to the best of my ability from notes taken during the conversation on October 8, 1992.

CALLER - Is the Federal Reserve a Corporation?

CALLER - Does my government own any of the stock in the Federal Reserve?
MR. SUPINSKI - No, it is owned by the member banks.

CALLER - Are the member banks private corporations?

CALLER - Are Federal Reserve Notes backed by anything?
MR. SUPINSKI -Yes, by the assets of the Federal Reserve but, primarily by the power of congress to lay tax on the people.

CALLER - Did you say, by the power to collect taxes is what backs Federal Reserve Notes?

CALLER - How much does the Federal Reserve pay for a $10 Federal Reserve Note?
MR. SUPINSKI - Fifty to seventy cents.

CALLER - How much do they pay for a $100.00 Federal Reserve Note?
MR. SUPINSKI - The same fifty to seventy cents.

CALLER - To pay only fifty cents for a $100.00 is a tremendous gain, isn't it?

CALLER - According to the U.S. Treasury, the Federal Reserve pays $20.60 per 1,000 denomination or a little over two cents for a $100.00 bill, is that correct?
MR. SUPINSKI - That is probably close.

CALLER - Doesn't the Federal Reserve use the Federal Reserve Notes that cost about two cents each to purchase U.S. Bonds from the government?
MR. SUPINSKI - Yes, but there is more to it than that.

CALLER - Basically, that is what happens?
MR. SUPINSKI - Yes, basically you are correct.

CALLER - How many Federal Reserve Notes are in circulation?
MR. SUPINSKI - $263 billion and we can only account for a small percentage.

CALLER - Am I correct when I say, $1 deposited in a member bank $8 can be lent out through Fractional Reserve Policy?
MR. SUPINSKI - About $7.

CALLER - Correct me if I am wrong but, $7 of additional Federal Reserve Notes were never put in circulation. But, for lack of better words were "created out of thin air " in the form of credits and the two cents per denomination were not paid either. In other words, the Federal Reserve Notes were not physically printed but, in reality were created by a journal entry and lent at interest. Is that correct?

CALLER - Is that the reason there are only $263 billion Federal Reserve Notes in circulation?
MR. SUPINSKI - That is part of the reason.

CALLER - Am I mistaking that when the Federal Reserve Act was passed (on Christmas Eve) in 1913, it transferred the power to coin and issue our nations money and to regulate the value thereof from Congress to a Private corporation. And my country now borrows what should be our own money from the Federal Reserve (a private corporation) plus interest. Is that correct and the debt can never be paid off under the current money system of country?
MR. SUPINSKI - Basically, yes.

CALLER - I smell a rat, do you?
MR. SUPINSKI - I am sorry, I can't answer that, I work here.  Chapter 2: Money Facts

 The following are excerpts from "MONEY FACTS 169 Questions and Answers on Money - A Supplement to A Primer on Money", prepared by the Subcommittee on Domestic Finance, House of Representatives, 88th Congress, 2d Session:

Question 1 - "Who has the right to create money in the United States?"
Answer - "Under the Constitution, it is the right and duty of Congress to create money. It is left entirely to Congress."

Question 2 - "To whom has the Congress delegated this money-creating right?"
Answer - "To the banking system, that is, to the Federal Reserve System and to the commercial banks in the country."

Question 6 - "Does Congress supervise Federal Reserve policymaking?"
Answer - "No. In practice, the Federal Reserve is "independent" in its policy-making. The Federal Reserve neither requires nor seeks the approval of any branch of Government for its policies. The System itself decides what ends its policies are aimed at and then takes whatever action it sees fit to reach those ends."

Question 47 - "Where does the Federal Reserve get the money with which to create bank reserves?"
Answer - "It doesn't `get' the money, it creates it. When the Federal Reserve writes a check, it is creating money . . . The Federal Reserve is a total moneymaking machine. It can issue money or checks. And it never has a problem making its checks good because it can obtain the $5 and $10 bills necessary to cover its check simply by asking the Treasury Department's Bureau of Printing and Engraving to print them."

Question 125 - "Do private banks enjoy a special relationship with the Federal Government?"
Answer - "Yes, a very special relationship. The business of banks is to lend money. The profits comes from the difference between the cost of creating money and the price they charge borrowers for that money. Now the cost of creating money is negligible . . . The banks do not pay a license fee or a payment charge for their reserves. Thus the raw materials the banks use cost them nothing . . . Further, the Federal Government provides private banks with the protection from competition and the hazard of failure."  Chapter 3: Ponzi Scheme

"The Federal Reserve earns interest on the government securities it owns." ("The Hats The Federal Reserve Wears", published by the Federal Reserve Bank of San Francisco)

Here is how this "PONZI SCHEME" works: When the government needs $100 billion, action is taken as follows: (1) The U.S. Treasurer advises the Bureau of printing and engraving to print $100 billion of U.S. Bonds (2) The Treasurer advises the Federal Reserve it will need $100 billion of Federal Reserve Notes (3) The Federal Reserve advises the Bureau of printing and engraving to print $100 billion of Federal Reserve Notes and pays $20.60 per thousand denomination (4) The slight of hand trick takes place when the Federal Reserve Notes are swapped for the U.S. Bonds that pay interest. (See House of Representatives, Banking and Currency Committee hearing of September 30, 1941) It should be pointed out the Federal Reserve does not always exchange Federal Reserve Notes for U.S. Securities. They can simply create the money by a simple bookkeeping journal entry and eliminate the cost of printing and engraving.

Congressman Burkick reconfirmed this when he said, "We want to sell $4 billion worth of U.S. Bonds, and we sell them in New York to those who haven't got a dime, and they don't need any money because they simply enter credit to the government on their books . . . They bundle up the bonds and take them down here to Washington D.C. and get an amount equal in currency. Then they've got the money! But they didn't have the money before the government gave it to them."

Their PONZI SCHEME is revealed in "The Story Of Banks", published by the Federal Reserve Bank of New York, they confess, " with a $5,000 deposit and a fractional reserve of 10% in just three transactions, $12,195 in loans can be made." When we complete the fractional reserve system as outlined in the book, we will discover over $45,000 can be lent from the initial deposit of $5,000. Don't you wish you could wave a magic wand over $5,000 of your own money and presto, have another $40,000 appear "out of thin air"? That is exactly what the Magician at the bank is doing!

The Federal Reserve is nothing more than a "PONZI SCHEME" sucking the blood out of our economy. It is the greatest fiscal fraud that has ever been perpetrated upon the nation. Just how much money are the MONEY- CHANGERS making? On Nov. 15, 1914 the total assets listed by the Federal Reserve was $143 million. According to the Federal Reserve Bulletin of September 9, 1994, the total assets of the Federal Reserve as of June 30, 1994, had grown to $419.61 billion. Who knows if this is a true figure, they never been independently audited. Instead, they audit themselves. Isn't that convenient?  Chapter 4: The Witnesses

The first witness to be called is Abraham Lincoln. He warned, "I see in the near future a crisis approaching that unnerves me and causes me to tremble for safety of my country; corporations have been enthroned, an era of corruption in High Places will follow, and the Money Power of the country will endeavor to prolong its reign by working upon the prejudices of the People, until the wealth is aggregated in a few hands, and the Republic destroyed."

"You are a den of VIPERS. I intend to rout you out and by the ETERNAL GOD I will rout you out . . . The bank is trying to kill me - but I will kill it. If the people only understood the rank injustice of our money system, there would be a revolution before morning." President Andrew Jackson

"History records that the MONEY-CHANGERS have used every form of abuse, intrigue, deceit and violent means possible to maintain their control over governments by controlling the money and its issuance." James Madison

"The inability of the colonists to get the power to issue their own money permanently out of the hands of George III, and the international bankers was the PRIME reason for the REVOLUTIONARY WAR." Benjamin Franklin

"The Fed (Federal Reserve) was designed to have power over the treasury . . . it is NOT subservient to the Treasury Department - and never was." William McAdoo, Secretary of the Treasury in 1913.

In 1928, the House Hearings on the Stabilization of the Purchasing Power disclosed evidence the Federal Reserve was working closely with the heads of the European banks. The committee warned a major crash had been planned in 1927. HISTORY SPEAKS FOR ITSELF!

"When England paid us approximately $100,000,000 in gold the Treasury should have taken that gold . . . Instead, the gold was delivered to the private banks (Federal Reserve Banks) and the government given credit for the amount. The banks used a part of it as a base to issue considerable money, which they loaned to their customers, and the remainder, which was most of it, was sold back to England by the bankers . . . The gold that is given up by the people in the present crisis should be delivered to the government. It should be used to issue additional money upon which the people will not have to pay interest while it is in circulation." Congressman McGuGin (Congressional Record March 9, 1933)

Congressman Louis McFadden, former Chairman of the House Banking and Currency Committee, and one of the strongest critics of the Federal Reserve had this to say, "The Federal Reserve Banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this Nation is run by the International Bankers . . . They have cheated the government of the United States and the people out of enough money to pay the national debt. This evil institution has impoverished and ruined the people of the United States and has practically bankrupted our government . . . The depression was not an accident, it was a carefully contrived occurrence. The International Bankers sought to bring about a condition of despair here so that they might emerge as ruler of us all . . . every effort has been made by the Fed to conceal its power but the truth is - - the Fed has usurped the government. It controls everything in Congress and it controls all foreign relations. It makes and breaks governments at will . . . The Federal Reserve has never been independently audited and have resisted all attempts to be audited."

On May 23, 1933, Congressman McFadden, brought impeachment charges against members of the Federal Reserve Board and the heads of the 12 member banks. He said, "Whereas, I charge them jointly and severally with having brought about a repudiation of the national currency of the United States in order that the gold value of said currency might be given to private interest . . .

I charge them with having arbitrarily and unlawfully of taking $80 billion from the United States in 1928 . . .

I charge them with having brought about a decline in the prices on the N.Y. Stock Exchange . . .

I charge them with having arbitrarily and unlawfully raised and lowered interest rates on money. Increased and diminished the volume of currency in circulation for the benefit of private interest . . .

I charge them with having conspired to concentrate United States securities and thus having conspired to transfer to foreigners and international money lenders title to and control of the financial resources of the United States . . .

I charge them with having published false and misleading propaganda intended to deceive the American people and to cause the United States to lose its independence . . .

I charge them with the crime of having TREASONABLY conspired and acted against the peace and security of the U.S."

Congressman McFadden's shocking indictment was moved to the Committee of the Judiciary. It still awaits reporting (61 years later) to the House floor to impeach both former and present members of the Board of Governors and the Federal Reserve Banks for criminal conspiracy against We The People of the United States of America.

"Despite my views about the value to society of greater publicity for the affairs of corporations, there was an occasion, near the close of 1910, when I was as secretive, indeed, as furtive, as any conspirator . . . our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System." Frank Vanderbilt (Saturday Evening Post, Feb. 9, 1935)

"This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." Robert H. Hemphill, former Credit Manager of Federal Reserve Bank, Atlanta, GA. (Senate Document No. 23, January 24, 1939)

"A great industrial Nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the Nation and all our activities, are in the hands of a few men. We have become to be one of the worst ruled, one of the most completely controlled and dominated Governments in the world - no longer a Government of free opinion, no longer a Government by conviction and vote of the majority, but a Government by the opinion and duress of small groups of dominate men . . . I have unwittingly ruined my country" President Woodrow Wilson (National Economy and the Banking System, Senate Documents, Col. 3 No. 23) [Editor's Note: The Federal Reserve Act was passed during his administration He is quoted by close friends and relatives as having said on his death bed, "I have betrayed my nation."]

"The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the United States since the days of Andrew Jackson." President Franklin Roosevelt

"This year, I authorized the issuance of United State Notes. They are the same appearance except for the heading at the top. The difference is that we pay interest to the Federal Reserve on their notes, whereas we pay no interest on United State Notes." President John Kennedy (He was assassinated 10 days later) President Kennedy's Executive Order 11.110 called for the issuance of $4.2 billion in a new currency called United States Notes. These notes were interest free and debt free. They were issued through the U.S. Treasury. The first thing agent Lyndon B. Johnson did as President was to revoke Kennedy's executive order.

"The Federal Reserve is answerable to no one . . . not even the president." President Reagan  Chapter 5: The Courts Rule

This is what the courts had to say about the Federal Reserve System. The following are excerpts from the case of First National Bank vs. Jerome Daly, Presiding Justice of the Peace Martin V. Mahoney ruled:

"The emission of Bills of Credit (by banks) upon their Books, without consideration and the issuance of Federal Reserve Notes without consideration to circulate as legal tender for the payment of debts is not permitted expressly or implied by the Constitution of the United States. Paper, whether money or not, is always illegal unless it is fully representative of some material commodity . . .

The issues in this case were simple. There was no material dispute on the facts for the Jury to resolve.

Plaintiff admitted that it, in combination with the Federal Reserve Bank of Minneapolis, which are for all practical purposes, because of their interlocking activity and practices, and both being Banking Institutions Incorporated under the laws of the United States, are in law to be treated as one and the same bank, did create the entire $14,000 in money or credit upon its own books by bookkeeping entry. That this was the Consideration used to support the Note dated May 8, 1964 and the Mortgage of the same date. The money and credit first came into existence when they created it. Mr. Morgan admitted that no United States Law or Statute existed which gave him the right to do this. A lawful consideration must exist and be tendered to support the Note . . .

It has been determined, independent of Acts of Congress, that sailing under the license of an enemy is illegal. The emission of Bills of Credit upon books of these private Corporations, for the purposes of private gain is not warranted by the Constitution of the United States and is unlawful . . .



1. That the Federal Reserve Banking Corporation is a United States Corporation with twelve banks throughout the United States. That the First National Bank of Montgomery is also a United States Corporation, incorporated and existing under the laws of the United States and is a member of the Federal Reserve System.

2. That because of the interlocking control activities, transactions and practices, the Federal Reserve Banks and the National Banks are for all practical purposes, in the law, one and the same.

3. As is evidenced from the book "The Federal Reserve System; Its purpose and Function", put out by the Board of Governors of the Federal Reserve System and other evidence adduced herein, the Federal Reserve Banks and National Banks create money and credit upon their books and exercise the ultimate of expanding and reducing the supply of money or credit in these United States.

This creation of money or credit upon the Books of the Banks constitutes the creation of fiat money by bookkeeping entry.

Ninety percent or more of the credit never leaves the books of the Banks so they need produce no specie as backing.

When the Federal Reserve Banks and National Banks acquire United States Bonds and Securities, State Bonds and Securities, State Subdivision Bonds and Securities, mortgages on private Real property and mortgages on private personal property, the said banks create the money and credit upon their books by bookkeeping entry. The first time that the money comes into existence is when they create it. The banks create it out of nothing. No substantial fund of gold or silver is back of it, or any fund at all . . .

The Federal Reserve Notes in question in this case are unlawful and void upon the following grounds:

A. Said Notes are fiat money, not redeemable in gold or silver coin upon their face, not backed by gold or silver, and the notes are in want of some real or substantial fund being provided for their payment in redemption.

B. The Notes are obviously not gold or silver Coin.

C. The sole consideration paid for the One Dollar Federal Reserve Notes is in the neighborhood of nine-tenths of one cent, and therefore, there is no lawful consideration behind said Notes.

D. That said Notes do not conform to Title 12, United States Code, Sections 411 and 418. Title 31 USC, Section 462, insofar as it attempts to make Federal Reserve Notes and circulating Notes of the Federal Reserve Banks and National Banking Associations a legal tender for all debts, public and private, it is unconstitutional and void, being contrary to Article 1, Section 10, of the Constitution of the United States, which prohibits any State from making anything but gold and silver coin a tender, or impairing the obligation of contracts.

Now, therefore, by the virtue of the authority vested in me pursuant to the Declaration of Independence, the Northwest Ordinance of 1787, the Constitution of the United States of America and the Constitution of the State of Minnesota;

It is hereby DETERMINED, ORDERED AND ADJUDGED, that the Appeals Statutes of the State of Minnesota for Civil Appeals from this Court to the District Court is not complied with within 10 days after entry of Judgment. Therefore the Appeal is not allowed by this Court and my Docket so shows."


Martin V. Mahoney

Justice of the Peace

Credit River Township

Scott County, Minnesota

The Sheriff's sale of Mr. Daly's home was declared null and void. The court ordered the Sheriff to return the home to Mr. Daly, or he, the judge would have the Citizens of the County carry out the order. This landmark case has been kept from the eyes of the sleeping nation. Their motto is, "What the people don't know can't hurt us. Let us keep it that way."

Regarding the power to delegate the control of our money supply to a private corporation can be found in 16 Am Jur 2d, Section 347, which states: "The rule has become fixed that the legislature may not delegate legislative functions to private persons or groups, or to private corporations or a group of private corporations." Maybe someone needs to read the law to Congress because they have delegated the legislative function of controlling or money supply to a "private" corporation.

The following court cases support the fact that the banks are fraudulently making loans:

"A national bank has no power to lend its credit." (Farmers & Miners Bank vs. Bluefield National Bank, 11 F2d 83, 271 US 669)

"Banking Associations from the very nature of their business are prohibited from lending credit." (St. Louis Savings Bank vs. Parmalee 95 U. S. 557)

"National Banks may lend their money but not their credit." (Norton Grocery vs. Peoples National Bank, 144 S.E. 501, 151 Va. 195)

"A bank can lend its money but not its credit." (First National Bank of Tallapoosa vs. Monroe, 135 Ga 614, 69 SE 1123, 32 LRA)

"It is not within the statutory powers for a national bank, even though solvent, to lend its credit . . ." (First Intermediate Credit Bank vs. Herisson, 33 F 2nd 841)

"A national bank, under federal law being limited in its powers and capacity, cannot lend its credit." (Howard & Foster Co. vs. Citizens National Bank of Union, 133 SC 202, 130 SE 758)

"Banking corporations cannot lend credit." (First National Bank of Amarillo vs. Slaton Independent School District, Tex Civ App 1933, 58 SW 2d 870)

"There is no doubt but what the law is that a national bank cannot lend its credit or become an accommodation endorser." (National Bank of Commerce vs. Atkinson, 55 Fed Rep 465)

"Nowhere is the express authority granted to the corporation to lend its credit." (Gardilner Trust vs. Augusta Trust, 134 Me 191; 291 US 245)

"A national bank has no authority to lend its credit." (Johnston vs. Charlottesville National Bank, C.C. Va. 1879, Fed Cas. 7425)

"A contract made by a corporation beyond the scope of its power corporate powers is unlawful and void." (McCormick vs. Market National Bank, 165 U.S. 538)

"A national bank . . . cannot lend its credit to another by becoming surety, endorser, or guarantor for him, such an act is ultra vires . . ." (Merchants' Bank vs. Baird, 160 F 642)

"Federal Reserve bank credit does not consist of funds that the Reserve authorities get somewhere in order to lend, but constitute funds that they are empowered to create." (Federal Reserve Bank: Its Purposes and Functions, 1939 Edition)

"Act is ultra vires when corporation is without authority to perform it under any circumstance or for any purpose. By doctrine of ultra vires a contract made by a corporation beyond the scope of its corporate powers is unlawful." (Community Fed S&L vs. Fields, 128 F 2nd 705)

"A bank is not the holder in due course upon merely crediting the depositors account." (Bankers Trust vs. Nagler 229, NYS 2nd 142)

"A holder who does not give value cannot qualify as a holder in due course." (Uniform Commercial Code 3-303.1)

"Checks, drafts, money orders and bank notes [Federal Reserve Notes] are not lawful money of the United States." (State vs. Nealan, 48 Ore. 155)

In Bronson vs. Rhodes, the court ruled, "Lawful money of the United States could only be gold and silver, or that which by law is made its equivalent, so as to be exchangeable therefore at par and on demand." (74 U.S. 229, 247, 19 L. Ed. 141)

According to 12 USCS, Section 411, ". . . They [Federal Reserve Notes] shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, D.C., or at any Federal Reserve bank." If Federal Reserve Notes shall be redeemed in `lawful' money, what kind of money would be unlawful?

"If money does not have the value it purports to have on its face, it cannot be legal tender." (Craig vs. Missouri, 29 U.S. 410) Try to redeem your legal tender Federal Reserve Notes for Gold or Silver. Good Luck!

Bruce A. Budlong of the Department of the Treasury said, "The same monetary system that was established on April 2, 1792, is in effect today."

Section 20 of the 1792 Coinage Act, 1 Stat. 246 stipulates: ". . . That the money of the account of the United States shall be expressed in dollars . . . and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and in conformity to this regulation." This section of the Act has never been repealed and is still in effect today.

Section 314 of USCS 31 states the standard unit value as "the dollar consisting of 24 8/10 grains of gold, nine tenths fine and/or 371.25 grains of .999 fine silver as established shall be the standard unit of value, and all forms of money issued and coined by the United States shall be maintained at a parity of the value with this standard, and it shall be the duty of the Secretary of the Treasury to maintain such parity."

The Section 19 of the 1792 Coinage Act states, "That if any of the gold or silver coins which shall be struck or coined at the said mint shall be debased or made worse as to the proportion of fine gold or silver therein contained, or shall be less weight or value than the same out to be pursuant to the direction of this act, through the default or with connivance of any officers or persons who shall be employed at the said mint, for the purpose of profit or gain, or otherwise with a fraudulent intent, if any of the said officers or persons shall embezzle any of the metals . . . every such officer or person who shall commit any or either of the said offenses, shall be deemed guilty of felony, and shall suffer DEATH."

Reach into your pocket, look at the money. The silver and gold have been embezzled by the Federal Reserve! The law did not say, 25 years to life imprisonment, it says "DEATH"! They have been charged with the crime and must be sentenced accordingly!

WAKE-UP AMERICA and take a closer look at what happened to some of those outspoken critics of the Federal Reserve. Lincoln was assassinated by Booth! Kennedy was (supposedly) assassinated by Oswald! Garfield was assassinated by Guiteau! Mckinley was assassinated by Czolgosz! After 3 attempts on his life, McFadden was found dead in his ransacked office! His autopsy shows he died of natural causes. Assassination attempts were made on the lives of Presidents Jackson and Reagan! Lindbergh's grandson was kidnaped! Justice of the Peace Mahoney died mysteriously within months after the bank lost its case and that historical decision was handed down. The defendant, Jerome Daly, an Attorney, was later disbarred from the Bar Association and became a political prisoner. Justice of the Peace Bill Drexler was also disbarred and he too became a political prisoner. Will this ADVERSARY stop at nothing? Or, is it just a coincidence that those who were strong critics of the MONEY-CHANGERS and supporters of the Constitution were targeted for assassination or became political prisoners?  Chapter 6: Let's Make A Deal

Prior to the Great Depression, America was experiencing the Roaring 20's. The economy was flourishing, manufacturing out-put was on the rise, and all of a sudden on October 29, 1929, the stock market crashed and the Nation fell into the Great Depression. The events that lead up to the Great Depression were unique, to say the least. America did not lack able bodied workers, consumer needs did not decrease, and the country did not lack manufacturing capabilities. Nevertheless, America went from the Roaring 20's and virtually over-night fell into a Great Depression. What America did lack was an adequate supply of money. Credit dried up as the Federal Reserve retracted the money supply. Consequently, banks stopped making loans to businesses and consumers and, started calling in outstanding loans. As a result, businesses and investors started selling their stocks in order to raise the necessary capital to keep their head above the water and pay off their loans. The people also withdrew their money from the banks to pay their debts, etc. The Great Depression was the direct result of actions taken by the Federal Reserve System. The same system that was created under the pretense of providing the nation with an elastic money supply, turned against us during years of good fortune. There is no question about it, the Federal Reserve created the Great Depression and, has caused every recession since 1913. The Great Depression was nothing more than a massive transfer of wealth from the hands of the working class to the hands of the MONEY-CHANGERS. The Federal Reserve System must be destroyed.

On April 5, 1933, President and Traitor Franklin D. Roosevelt signed the following Executive Order: "By virtue of the authority vested in me by Section 5 (B) of the Act of Oct. 6, 1917, as amended by Section 2 of the Act of March 9, 1933, entitled `An Act to provide relief in the existing national emergency in banking and for other purposes', in which a mandatory Act Congress declared that a serious emergency exists, I Franklin D. Roosevelt, President of the United States of America, do declare that said national emergency still continues to exist and pursuant to said section do hereby prohibit the hoarding of gold coins, gold bullion, and gold certificates within the continental United States by individuals and corporations . . .

All persons are hereby required to deliver on or before May 1, 1933 to a Federal Reserve bank or agency thereof or any member bank of the Federal Reserve System all gold coin, gold bullion and gold certificates now owned by them or coming into their ownership on or before April 28, 1933, except the following:

(b) Gold coin or gold certificates in an amount not exceeding in the aggregate $100.00 belonging to any one person; and gold coins having been recognized special value to collectors of rare and unusual coins . . 

Section 9; Whoever willfully violates any provisions of this Executive Order or of these regulations or of any rule, regulations, or license issued there under may be fined not more than $10,000, or, if a natural person, may be imprisoned for not more than ten years, or both . . ."

When Roosevelt followed "the unscrupulous money-changers" proposed Executive Order to confiscate our gold, what did the American people do? They fell for the con-game hook, line and sinker. They quietly marched down to their local bank and turned in their gold. Just like good little sheep do when the herder herds them up to be fleeced.

I hate to say it, but we have the kind of government we deserve. We have allowed them to continue down the path that will ultimately lead to our destruction. We must stop turning to government for solutions. They are the enemy and by no means are they the cure. I challenge the reader to find anywhere in the Constitution that gives the President the power or authority to issue an Executive Order. If, We The People did not grant the President the power or authority under the Constitution, then Executive Orders are simply unconstitutional.

Our founding Fore-Fathers were so adamant on a gold and silver based currency, they made it a part of the Constitution of the United States of America. Article 1 Sec. 10 Clause 1 states, "No state shall coin money; emit Bills of Credit; make any thing but gold and silver Coin a Tender in Payment of Debts." The Tenth Amendment reads: "The powers not delegated to the United States by the Constitution, nor prohibited by the States are reserved to the states respectively, or to the people." We gave Congress and only Congress the power to coin and issue our money supply and to regulate the value thereof. We did not give them the power or authority the transfer our money to a private corporation. America has the best Congress money can buy. We are victims of our own inactions.

Despite what the Constitution says, Chapter 48 of the 73d Congress, reads as follows: "Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) every provision contained in or made with respect to any obligation which purports to give obliges a right to require payment in gold or a particular kind of coin or currency, or in an amount in money of the United States measured thereby, is declared to be against public policy . . .

All coins and currencies of the United States (including Federal Reserve Notes and circulating notes of the Federal Reserve banks and national banking associations) heretofore or hereafter coined or issued, shall be legal tender for all debts, public and private, public charges, taxes, duties, and dues, except that gold coins, when below the standard weight and limit of tolerance provided by law for the single piece, shall be legal tender only at valuation in proportion to their actual weight." (Approved, June 5, 1933, 4:40 P.M.)

Please note the above is declared to be against public policy, and not against the law. There is a clear and distinct difference between policy and law. Also note that they made Federal Reserve Notes legal (not lawful) tender for all debts. They even had the audacity to say if a $1 gold coin did not have the standard weight, you would receive less of their COUNTERFEIT money. I guess if you are going to take someone to the cleaners you should clean them out of everything you can.

In essence, the MONEY-CHANGERS have emptied our Treasury and forced us to deliver our Gold to them via an Executive Order signed by one of their paid agents. In return for our gold they gave us their worthless "fiat" money! To pour salt on the wound they charge us interest on their counterfeit money. It is time we awaken to the truth and demand the return of our money supply to who it rightfully belongs, WE THE PEOPLE.

Specifically officers and agents of the Federal Reserve System, members of the United States Congress, the President and judges are engaged in a Conspiracy and a Racketeering enterprise to use, tender and circulate money in the form of criminal Federal Reserve Paper that is in violation of criminal statues. Don't you think it is time to bring them to trial, for their crimes against our nation?

In 1933 the MONEY-CHANGERS robbed us of our Gold and in 1965 they robbed us of our silver, leaving us with fiat paper money and copper clad coins. At the signing of the Coinage Act of 1965, President Lyndon B. Johnson said, "When I have signed this bill before me, we will have made the first fundamental change in our coinage in 173 years. The Coinage Act of 1965 supersedes the Act of 1792. And that Act had the Title: `An Act Establishing a Mint and Regulating the Coinage of the United States . . .' Now I will sign this bill to make the first change in our coinage system since the 18th Century. To those members of Congress, who are here on this historic occasion, I want to assure you that in making this change from the 18th Century we have no idea of returning to it."

Ladies and gentlemen, the Coinage Act of 1965 provided, "The Treasury is authorized to sell any silver in excess of that required to be held against outstanding silver certificates for $1.29 per troy oz. to the Federal Reserve." And that's how the MONEY-CHANGERS stole our gold and silver.

The general misconception is that any statute passed by legislators bearing the appearance of law constitutes the law of the land. Nothing could be farther from the truth. The United States Constitution is the Supreme Law of the land, and any statute, to be valid, it must agree with the Constitution. It is impossible for both the Constitution and a law violating it to be valid; one must prevail. The Federal Reserve Act, Roosevelt's Executive Order and the Coinage Act of 1965 are in direct conflict with Article 1, Section 10 of the Constitution of the United States of America.

If Article 1, Section 10 of the Constitution can be negated by the legislative, by the judiciary, by the executive, or by anyone, then any part of the Constitution of the United States can be broken when deemed advisable by the legislative, the judiciary or the executive. If this part of the Constitution can be breached, then there is no Constitution of the United States of America. And your guaranteed rights, and freedoms are a forgotten dream. It is impossible for both the Constitution and a law violating it to be valid; one must prevail. Americans are standing still like docile cattle in a slaughter-house. Don't you think its time for the ALMIGHTY MASS to AWAKEN and put a stop to this senseless debt monetary system?

11)  Watch the Preview of Masters of the Universe, The Secret Birth of the Federal Reserve.

Was there a takeover of the US by international bankers? You visit the scene of a crime so perfect that, for thirty years, no one knew it had even taken place. Join us as we investigate the birth of a criminal conspiracy to rob each and every bank vault in America. The true, behind the scenes, story of the birth of the US Federal Reserve.


12)  The Money Masters Website

THE MONEY MASTERS is a 3 1/2 hour non-fiction, historical documentary that traces the origins of the political power structure that rules our nation and the world today. The modern political power structure has its roots in the hidden manipulation and accumulation of gold and other forms of money. The development of fractional reserve banking practices in the 17th century brought to a cunning sophistication the secret techniques initially used by goldsmiths fraudulently to accumulate wealth. With the formation of the privately-owned Bank of England in 1694, the yoke of economic slavery to a privately-owned "central" bank was first forced upon the backs of an entire nation, not removed but only made heavier with the passing of the three centuries to our day. Nation after nation, including America, has fallen prey to this cabal of international central bankers.  TOWARDS IDEAL MONETARY REFORM LEGISLATION: An Introduction to Monetary Reform Principles

Too many creditor banks foist policies on their nations, which assume the shape of a ruthless war on the poorer nations, and on the poor in their nations, financing projects over-priced through the fraudulent complicity of corrupted politicians creating odious debts. For example: during the decade 1980-90 Latin American countries paid $418 billion in interest on original loans of $80 billion.

Absent authentic monetary reform, debtor nations unable to pay their debts will ultimately be left with five (5) options:

1. To increase exports in order to increase foreign exchange revenues.

Where this is possible, it transforms the citizens into de facto workers for foreign banks which siphon the national production out of the country, further impoverishing the people. Increased commodity production saturates markets and reduces prices, partially or wholly defeating the purpose.

2. This necessitates submitting to the IMF-imposed rape of their national resources and the starvation of their people while surrendering their national sovereignty by degrees.

This is the option recently taken by the S.E. Asian nations (South Korea, Indonesia, Thailand, Philippines). This is, of course, a closed loop back to debt. Of the $123 billion IMF S.E. Asian bailout, Chase Manhattan bank is in line to receive $32 billion; J.P. Morgan for $23 billion; Bank of America for $16 billion. This $71 billion will never reach S.E. Asia, as it is transferred from the U.S. Treasury, to the IMF, to the Wall Street banks. The IMF bailout saves their bad loans to these nations.

Courtesy of the U.S. government, some such foreign debt is being transferred ("monetized") to U.S. taxpayers for payment via increased taxes and inflation.

3. Unilaterally to repudiate their foreign debts.

This action incurs the danger of being followed by trade strangulation (necessitating barter agreements in foreign trade, as was successfully conducted by the Axis powers and later by Rhodesia), and military invasion (e.g. witness the fate of these defaulter nations: Haiti, Somalia, Iraq, the former Yugoslavia [Bosnia et al.] invaded by U.S. and U.N. armed forces acting as unwitting, de facto mercenaries).

4. To seek legal repudiation of their foreign debts, based on the doctrine of "odious debts".

This is an established international law principle permitting debt repudiation when a government incurs a debt without the informed consent of its people, and which is not used in the legitimate interest of the State. The jurist who coined the phrase "the doctrine of odious debts", held that debts incurred to subjugate a people or to colonize them should also be considered odious. This doctrine shifts responsibility to the lenders, neither to corrupt nor to utilize corrupted politicians and governments to initiate loans, and allows collection from the despots who wasted the funds ó both desirable changes.

Of course, an independent, uncorrupted judiciary is a prerequisite to obtaining legal repudiation with this legal theory, which is extremely unlikely when corrupted politicians appoint politically subservient judges to the World Court who would hear such cases.

5. To issue sufficient quantities of the national money specifically to retire the international debt.

While issuing sufficient new money to retire foreign debt would work, it would also result in hyperinflation where the foreign debt is great in relation to the economy, particularly due to the subsequent multiplier effect of any high-powered money in a fractional reserve banking system. This ruinous negative effect has been felt by numerous nations which inflated to retire foreign debt.

There is grave danger to society, worldwide, which must be addressed, when a handful of men hold the power of life and death over national economies as is certainly the present case. As Pope Pius XI pointed out in the Encyclical Quadragesimo Anno (1931): . . . the power to create money and to expand or contract the money supply at will carries with it too great an opportunity of economic domination [and therefor ultimately of tyranny], to be left to private control without injury to the community at large.

Rev. Dennis Fahey, C.S.Sp.: If a private group exercise the power to originate the exchange-medium and then manipulates the volume of it, that group becomes a power greater than the government itself. It becomes a super-government, paralyzing the efforts of the lawful government for the common good.

It is perfectly idle to talk about a democracy or a republic when the sovereign power is being exercised de facto by a small group of international bankers not committed to the long-term development of the country, who manipulate public opinion and politicians though their money and media control; the worst of whom seek to arrogate to themselves the exercise of absolute power. What are nations without justice but bands of robbers. - St. Augustine

And remember, where you have a concentration of power in a few hands, all too frequently men with the mentality of gangsters get control. History has proven that. All power corrupts; absolute power corrupts absolutely. ó Lord Acton

Therefore the first monetary reform principle to emerge is that control over the monetary system must be taken back out of the private hands who have usurped the power of the State by deceit, bribery and intrigue for their selfish or ideological ends, and be resumed by the State. From this it flows that money creation by private persons must be prohibited, thus fractional reserve banking must be prohibited, and full reserve banking mandated by law.

Sound monetary reform requires the issuance of all money (legal tender) by the State, exclusively; in amounts calculated to stabilize the general price level; without debt obligation to private persons; with all lending to be performed by private legal persons, exclusively; while safeguarding the widespread ownership of private property.

Monetary Reform Principles

1.) Require the issuance of all money (legal tender) by the State, exclusively;

a. this implies the prohibition of all private money creation;
b. this implies the prohibition of fractional reserve banking;
c. this implies the requirement of full reserve banking;
d. this implies withdrawal from international banks with credit/reserve-creating authority (such as the IMF SDRs);

2.) in amounts calculated to stabilize the general price level;

a. this implies avoiding inflation and deflation, a condition for steady and healthy economic growth, as government policy;
b. this implies the abandonment of a single commodity standard (e.g. gold) inasmuch as no commodity is available on the same time as all goods in general (besides the problems of hoarding, manipulation through export, etc.);
c. this implies a fixed relationship or rule between the quantity of money and goods;
d. this may imply a war-time exception to #3, below;
e. this implies government policy to stabilize excessive fluctuation of exchange rates;

3.) without debt obligation to private persons;

a. this implies paying off national debts (not necessarily intra-government debt);
b. this implies requiring full reserve banking;
c. this implies the issuance of all money (medium of exchange) by the State;

4.) with all lending to be performed by private legal persons, exclusively;

a. this implies the prohibition of all government lending (e.g. contrary to communist and national socialist legislation);
b. this implies the prohibition of usurious rates of interest, which defeat or prevent the beneficial effects of lending and create obstacles to secure ownership of property;
c. #1, supra., implies that #4 would be limited by the amount of funds the lender had or obtains to lend;

5.) safeguarding the widespread possession of private property.

a. this implies both the secure (which implies permanent) and modest possession of private property by all classes of people;
b. this implies a homestead exemption from property taxation and in bankruptcy;
c. this implies that the power to create money not be delegated to private persons for their individual benefit by the State since this results in vast concentrations of property;
d. this implies that the right to private property is subordinated to the right to common use where the danger of economic domination of the community is too great to leave it in private hands.

13)  Andre Eggelletion's Website - Author of the book "Thieves in the Temple"

Andre Eggelletion takes you on a captivating and electrifying journey through the evolution of Americaís experiments with privately owned central banks in his powerful new book, ďThieves in the Temple: America Under the Federal Reserve System.Ē This book brings us face to face with the fact that in 1913 America allowed a few greedy men to unconstitutionally privatize the issuance of our money and credit, enact usury-based monetary laws creating a system of perpetually expanding debt, and ultimately destroy Americaís once proud economic sovereignty.

Eggelletion goes on to show how the rate, pace, and sequence of monetary policies by the Federal Reserve, the IMF/World Bank, and their various predecessor institutions, have historically been implemented to enable the imperial aspirations of western aristocracies and corporations.

From the oppression of those who controlled money and manipulated credit in early civilizations, through the economic cataclysms and war brought upon the world by privately owned central banks, to the modern hegemony of the U.S. dollar and the war on terrorism, Eggelletion reveals it all. Thieves in the Temple is a must read!

14) VIDEO: Corrupt Federal Reserve - Robbing Americans Since 1913

Video Link:



ALAN GREENSCAM- Former Chairman of the FED

The Federal Reserve has more control over your life than the government! Think about it! The Federal Reserve determines the amount of your mortgage payment, automobile payment, and the interest rates for other loans and credit cards. The fractional reserve monetary system is the cause of inflation and economic problems that rob you of your savings and lowers your standard of living. The Federal Reserve is the reason our country is so deeply in debt and why we pay so much in taxes! We must educate others about our monetary system and demand that our elected officials abolish the Federal Reserve, take control of our monetary system and change it from a debt-based, fractional reserve system to a system that works for us instead of against us!

"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."- Thomas Jefferson