联邦共和国

的'宪法真理'类别的档案

卡根：宪法的意思是“时间超过解读”从垃圾收集站的视频在Vimeo 。

你看，乡亲。 即使卡根经常引用以色列最高法院法官阿哈龙巴拉克 ，底线是， 以色列甚至没有一部宪法 。 巴拉克主张在建立一个有利于以色列的宪法，并在此日期仍然没有正式的宪法。 宗教犹太人反对他们的国家观念有一个文件，政府将举行到一个更高的权威thaan宗教经文。 这正好与非宗教的观点作为以色列第一任总理戴维本古里安，谁表示，即使独立宣言被通过，是一个伟大的事件，它仅仅是在以色列的长期进化过程的开始表达作为一个民主国家，而不是“赎回。”记住，法官巴拉克被认为具有强烈反对以色列国防军运用定点清除的做法对付恐怖主义时指出，因此已根据大量以色列人在火灾来得同样的意义上，美国人不会赞成搭售美国军方手中时，针对恐怖分子。

在宗教灌输的年龄，其中一些导致暴力行为的明确界定的界线相同，政治灌输，还渊源。 世俗主义者和社会之间的宗教元素的著名论点，至少在所谓的'进步'，强调了一个渐进的宪制性法律的必要性。 不过，这种情况将通过宪法通过成为法例的大部分时间，立法议程是什么埃琳娜卡根的导师，阿哈龙巴拉克，以色列从他塑造的第一个典型的宪法制定。

当然，当司法成为与当选的立法机构的活动，在一段时间内组成新政府的定义本身是可以改变的，这在当时许多人在一起，是暴政的悬崖。 卡根的一种解释是对宪法法律的做法将随着时间的推移，以色列永远不会接受，即使没有宪法本身。 本古里安认为宪法具有寿命超过了从前在此期间，在经济和社会动乱其效用需要宪法。

这并不是说对美国宪法卡根的观点是不正确的，而是她没有考虑到这一事实，有必要保持社会和经济秩序中的美国。 这只是在一个讲求美国人感到，政府已承担了控制别人的生活太多的权力，这是难以成为争论的时候，在有利于更多规则。 在美国的问题是，宪法已经修改以至于它现在是一个文件，就成为毫无意义的地步。

保姆国家是如何司法，立法腐败的激励制度的完美例证。 它没有考虑到，人们必须让成功或失败对自己和假设，政府可以保证幸福。 幸福是没有保证，即使它是正确的。 该卡甘的经验来看应该是什么，这将是美国危险的一步。 事实上，许多人现在公开表示，鉴于对美国过度借贷倾向是领导对金融摧毁。 这大部份是跟那些打，但没有宣布由国会，因此不支付以及那些悲惨的失败的社会方案，但似乎没有人能说他们没有权利存在的战争。

我只能说的是，这部影片讲，以量为何美国的宪法应当简单明了。 存在的修正案今天已成为许多媒体和宣传员仅仅凝聚点，动摇了以税收的方式他们的同胞。 他们通过提出赞成或反对的问题，从根本上是违宪的虚假理由的。 然而，奇怪的是没有人说一个字。 这是非常简单的原因。 一旦社会工程，或社会主义，是通过入宪它创建了厚此薄彼组更不公平。

同时，当有真正需要行使的一项基本自卫的宪法权利，但往往得到失去了在宪法的其他语言的混乱，并导致像在以色列和美国存在着对形势的今天，这怪异反映在他们彼此不一致的反应来自伊朗和其他流氓国家在大规模杀伤性武器的拥有明显的威胁。

换句话说，司法机关没有任何业务纳入政府立法部门的事务涉足，反之亦然。 如果这样，一个国家变弱，因为它的双手捆绑，不能为自己辩护，更以同样的方式，美国在阿富汗摇摇欲坠了。

分享在Facebook

那么人们它终于发生了，经过近一个瘸腿驴司各脱终于裁定，他们应该有个别枪支权利问题的世纪。赞美耶稣！哈利路亚！这是关于动物或植物的时间！

这是我曾与几个moonbat网站为左洛斯超过15年！在这些怪人用地的说法是超过抽搐扭动如在炎热的人行道蠕虫的痛苦。他们，反炮手，有馅踢从他们收集坚果，现在在运行的有盖的位置！这意味着所有的限制性枪支法，包括错误的攻击性武器的核证机关，纽约和其他类似nutbag立法禁止一切都将被推翻零碎！

现在我们需要的一些行为推翻联邦火器和/或废除。我想我没有政府机关枪一样地了解，例如！

点击此处阅读新闻文章来自福克斯。

分享在Facebook

在这种破坏性的政治议程强加给暂时对公众，并不知情的不断yammering从被侮辱和冒犯，我们如履薄冰险境，当我们开始考虑姑息作为侮辱和冒犯任何形式的检查。这种交谈仇恨和暴力已经对有关伊斯兰的讽刺所谓的“先知”的拉尔穆罕默德漫画的瑞典维尔克斯的高跟鞋来。下面的图片是什么值得大惊小怪的目的。

我们作为热爱自由的美国人不能让任何形式的宗教狂热分子统治我们的国家，或试图拆除和摧毁我们美国人的文化遗产和文化！ 我不在乎任何人想要相信什么宗教的骗术，他们想的做法，只要他们不希望我或任何其他公民相信也。任何形式的宗教狂热分子是非常危险的美国系统，因为它太他们更容易描绘出被迫害的情况，但微妙的癌症准备扑向作为整个社会和摧毁一样！

我们现在目前一本由穆斯林下流企图影响了傀儡政权画的一切负面的印象，他们认为他们的邪恶而邪恶本身的支撑是靠煽动仇恨穆斯林形成了沿弱移民执法，让穆斯林团体狂热分子潜入我们的国家和肆虐，所有声称受到迫害而他们落后的宗教信仰。

我们使用必须为美国的自由，以保证我们不属于奴役和压迫的宗教狂热，特别是愚昧落后的穆斯林！任何谁宣告死亡的人谁不相信，他们这样做，不属于在美国美国或任何其他国家爱好自由的国家！

在告别，我要告诉你所有的穆斯林狂热分子和小兵！刚刚尝试，让我借此漫画吧！做好准备，以满足您的臭先知在地狱，如果你做！

分享在Facebook

一个荒谬的声明？ 不是真的！ 我们当中谁愿意看到我们伟大的民族破坏，陷入混乱的人。 他们只看到他们对美联储大规模唯物论贪婪狭隘的目标。 我们一直是价值观，促进了国家宪法的核心内容。没有任何其他国家一样，在过去的历史或今天我们的。 虽然并非十全十美，没有任何其他国家与美国相比，在我们所完成或在我们的文化或自然的美丽和壮观的多样性的能力。

然而，我们已经卖了在奴隶制河流理想，有一个真正自由的社会，应该是根据宪法的严格的原则和自由市场经济没有发生。 今天，我们很少的。 我们是一个荒谬的想法目前国家！的荒谬的想法，我们有责任为赚钱钱给政府。 刑事想法，那就是央行拥有和由一个贪婪的国际银行家阴谋集团经营可支配我们出钱为他们造福我们的货币政策！ 痴呆症的病人和想法，我们只能成为一堆东西了，如果我们的金钱和物质财富的巨大数额。思想的奴役，我们欠的公民谁正在努力为他们的家人的生活，其余的东西征税陷入债务永远不可能偿还。

谁是我们中间这些叛徒？他们为什么我们！我们是非常理想的开国元勋，他们的希望，一个繁荣和自由的未来的梦想从来没有在人类历史上任何其他人有经验的叛徒。我们卖为奴到一个闻所未闻的腐败和贪婪自己的系统时间以来，欧洲君主！我们的倾向是宽宏大量和关怀带领我们走上腐败的政府慈善和仁已释放官僚帝国的压迫怪物樱草路径和政府机构的都很少实现他们的目标，而是意味着对我们的经济造成巨大的资源消耗。

虽然我们所有的创始者们的理想的叛徒，有一组是特别令人震惊和卖国，这是民主党，以下简称为党的Demoncratic。一个已经采取的恶魔从地狱非常多党。党是这样一个腐败非常核心的是背叛和邪恶的一个缩影。一个政党如此阴险的出现一方面是仁慈的，但实在是充满了所有贪婪败类爆满。政党，意图关于奴役通过税收和方案，他们坑了有未反对以虚伪为了“公平的竞争环境”，但它反对富人在现实中是没有什么更多的人口，一个为人口要努力进行经济奴役微妙的形式生活虽然富裕Demoncrats变得更富，而出现的所有要在剥离其薪酬工作的民众，以显示政府资助的慈善项目。方案，明确反对的开国元勋们在第一时间开始行动善意警告。

我们应该是一个联邦共和国在法，而不是寡头Demoncracy因为我们有一套的时刻。这必须停止，现在！我们必须启动进程，以消除当权者谁是维持现状，没有意图不管他们的政治或党派。的时机已经来到了一个民族的整体剥离了过去的政策，自己和重振精神，重新回到1776年的自由市场经济和真正的自决原则。

分享在Facebook

该MGMSM会让你相信他们是知道的所有信息和新闻来源。它们是什么是正确的，什么是错与世界的仲裁者。如果你相信这点，你很无知，愚蠢和错误的。该MGMSM是癌症是吃的核心和灵魂离开意味着什么是我们伟大的宪法原则下的美国。

最近碗大汇演是一个愚蠢的腐烂企图洗脑成某种贫嘴冷漠的观众和燕子说废话兜售他们试图在比赛中最好的例子。唯一的广告是有任何实际价值，值得一听是蒂姆Tebow护身符。一切是废话，是的，我称之为废话。部和营销理念的部分我称之为“妈特别三明治”这种营销理论认为，“如果你正确地包装它，它的市场，生产它，人们将购买“狗屎三明治”，吃了起来，然后到处去告诉所有的人有多好，是让大家吃一也！“这是怎么回事，在愚蠢的商业广告，每碗的每分钟一般广告和新闻的第二传播在美国和世界各地！

唯一的办法，我觉得这个垃圾停车，要求成立一个在印刷和广播MGMSM全力抵制！的垃圾接连不断从MGMSM未来和它的拍马屁的子公司，是因为我们有宪法亵渎我们的宝贵白宫和scumbags国会在这个非常时刻！但由于有关的公民，我们必须结束这种嘲弄和唯一的就是我看到的是呼吁MGMSM在其目前的形式完成的灭亡！

迈向恢复我们的民族自豪感和主权是许多其他运动对国际银行家和百万Glomerates双管齐下的攻击，他们的控制权。据悉，有几件事情是保持我们在经济上奴役这些邪恶的生物：

1。 第16届修订，对于所谓的刑事勒索允许所得税。所得税将从未见过今天一天的发起人光后，将在政治上宣布这项计划阉割，但我们仍然有这个非常的POS修订亵渎我们伟大的宪法原则。所得税合法化作为黑手党，口径勒索钱财，否则我们混乱你。难道这是创始人的设想？ 我想不会！

2。 社会保障庞氏计划，撕离这个国家努力工作的青年还清了谁在那里，以为政府吸盘是要他们在他们的高级岁屁所有。

3。 医疗保险/医疗补助欺诈这需要法律上偷的钱，再从挣扎在职青年，并给予了上述轻信老屁和那些谁是太懒惰，太不愿意创造生活本身，然后再对有孩子，他们不能支持这从而最终为他们的愚蠢无知排水不足的口袋！

4。 美国联邦储备法是另一种犯罪行为的卑鄙小人由国际银行家和白色衣领谁是小偷偷窃我们的法律传统和我们的国家财富管理私人银行的业主策划的。他们灌输一个毫无价值的制度及其联邦储备债券是“合法的“货币。基本上是不值钱的货币，而他们在他们的控制和随意设置的价值！我们必须废除联邦储备法赶快！

5。宪法的商业条款已被使用的控制联邦政府（读联邦储备银行）破坏国家的权利，并进一步灌输联邦暴政下到公民的水平。这一条款的方式，他们已经使用和滥用法院的理由是我们有这么多联邦进入我们的生活入侵，使政府在议会的鬼子在我们的权力，主像残暴的君主。我们必须这样去改写这是剥夺了联邦政府的权力，给第权力还给人民在按照宪法所属！

这些东西都是上述5个需要恢复我们的宪法主权，把我们的伟大的国家，回到华盛顿，杰斐逊，富兰克林，亚当斯的坚定原则，所有的谁打了一场血腥的斗争，去掉其他的事情是非常创始人被强加给我们作为地球上最伟大的国家的公民。（我不关心什么丑陋的巫婆米歇尔Obomber说！）

美国又在2010年！

分享在Facebook

有多少次你听到这句话，它永远不会太晚太（做一些事情，任何事情）。 这是一个积极的鼓励白话这是真的在很多方面。 另一个是“不要拖到明天今天你可以做什么”了！ 加在一起，几乎成为从源头上指挥法令，不！

在我来说，我认为这是对权力的贪婪和痴迷的世界，谁喂过别人的痛苦，即百万格洛默特团和国际银行家的罪恶行动呼吁吧！ 虽然我不相信，天真无私世界所有问题都可以由一个或多个语音解决。 我相信，虽然一个沉默是令人失望和遗憾，对许多是致命的沉默！

在今天的MGMSM普通人的影响，世界正在包围与自卑，怀疑，忧郁，不确定，恐惧和侵略微妙所有与一个开朗的笑容美丽的文稿打包消息每天，如果一个是真的关注，它的一分钟一分钟。 一分钟一分钟，以秒1的消息不断攻击第二，邮件，邮件：你丑，你发错了你驾驶的汽车，你穿的衣服和配件的错误（哦，上帝，让我们不忘记所有神圣配件），你不是想正确，你不是消费的话，你只是... ..不足，周期！ 总的消息：如果你想成为的人，然后得到更多的钱愚弄和花，花，花！ 难怪这么多的人都是到处乱跑的合成速度（苯丙胺，甲基苯丙胺等），合成可卡因（Xanax等，百忧解，主题：adderall，所有抗抑郁药等）高，合成海洛因（二氢和它的止痛药）的表亲，随着真实东西太多！

这是一个奇迹人们不仅对彼此剔除当初从这些天来的MGMSM噪音只是纯粹出于无奈。 如果你想保存这个酷刑那么它很简单自己。 如果你正在读这一点，你已经在前面的世界最大的信息和在人类历史的内容来源，所以为什么不关闭该洗脑框称为TeeVee！ 从此让你的新闻，信息点，从源头上和娱乐使用权，你是这一刻！

它永远不会太晚，赎回自己。 它永远不会太晚，成为持不同政见者之间在许多流对疯狂MGMSM声音和它的权力贪婪痴迷企业的主人！ 调出MGMSM，印刷和广播，并在人类的理智新得救调整，万维网:-)

为了所有的神圣你，说出来，说出来，关闭和调整中的万维网字爱。 让新的沉默是该慢的MGMSM痛苦的死亡！

和平是你们和你们！

分享在Facebook

分享在Facebook

这些影片显然表明，伊斯兰恐怖分子佞在我们中间，他们希望美国异教徒征服和ALL /或死！

分享在Facebook

该向导没有衣服！

在FNC萨拉帕林最近露面的镀锌美国主流。下面我们终于能看到和听到的真正萨拉帕林。我们能听到的惊心动魄的真相为何麦凯恩输掉了选举，无帐户恐怖分子的同情者和激进的左派呢！一个正常的世界应该像Obomber骗子甚至从来没有被作为在我们伟大的国家最高职位候选人的考虑。他对国旗吐唾沫，该宪法规定，一切都认为美国应该比下扭曲的受害者迎合宪法以外另行他和他的远见罪犯同谋在商店为我们休息！

在她的她是如何的疯狂小丑波西是跑在地面麦凯恩竞选治疗的描述，萨拉开车回家的几个重要主题，将携带她的权利，如果白宫认为适合追求这一职务。她一遍又一遍地重复如何她觉得比较方案是缺少机会，告知需要的东西，可说的选民，将有一定沉没Obomber被利用了他们正常。没有在听她的ICP网站之一，并期待我们有什么！

人们一定听过吧！共和党是一个纯粹的恐慌和Demoncratic党的负责人就像一个国家对纺织类固醇驱魔娃娃！两个可怜各方都看不起自己的道路，即将消亡。他们都是边同旧的腐败和硬币都需要赶快去！如果绝大多数人的事情反应到现在已经从萨拉佩林在竞选期间表示，那么我们就会有一个完全不同的政治景观贝尔特韦今天！

这时候，我们开始听什么莎拉说，参加在该国的法律调整回下一个联邦共和国她！

分享在Facebook

Folks, I gotta warn you, this is no small endeavor to put the entire text of this speech given by Rep. Louis T. McFadden denouncing the Federal Reserve System. Its source is listed on the 1932-06-10 Congressional Record, dated June 1932, pg 12595-12603, which as far as I am concerned ought to be taught as a requirement before one is allowed to graduate from high school. Hell, I'm thinking that grade school ought to be where kids are first taught about the Federal Reserve. But anyway, I dug up this thing and slapped it up here today. It's kind of lengthy, but I think it gets to the basic bottom line on the Fed, which is that this was nothing less than a takeover of the United States by international bankers and financiers. It's like suddenly we've all been transported back to when many of our grandparents came to this country at the dawn of the 20th century. Here we are a hundred years later and the entire world that grandparents and parents built for us is being tossed overboard it's back to the future to use a pop cultural phrase.

But here it is. Here is a gem of an article to read today. McFadden's words sound like what you hear at tea parties today. As oddball as all this stuff is, and with all the media distractions they can dream up, people are able to cut through the bull and see what all this means in historical terms. And learning from our past mistakes is what is going to save us now. The Federal Reserve may indeed need to go, because technically speaking when the one that promised you that with their new system everything would be “better” (sounding familiar to you now? hmm?) if only you just give up a little of this individuality and a little bit of that of freedom (by calling it 'choice and competition'), then everything will get better. Yes, better. Hope. Change…

All joking aside, here is the text of McFadden's remarks… Enjoy. And remember who loves you…

“When the Federal Reserve act was passed, the people of the United States did not perceive that… the United States were to be lowered to the position of a coolie country which has nothing but raw materials and heavy goods for export; that Russia [China, India...] was destined to supply the man power and that this country was to supply financial power to an international superstate — a superstate controlled by international bankers and international industrialists acting together to enslave the world for their own pleasure.”
–Rep. Louis T. McFadden, June 10, 1932.

The Cause of the Problem
Mr. Chairman, at the present session of Congress we have been dealing with emergency situations [the economic depression --ed]. We have been dealing with the effect of things rather than with the cause of things. In this particular discussion I shall deal with some of the causes that lead up to these proposals. There are underlying principles which are responsible for conditions such as we have at the present time and I shall deal with one of these in particular which is tremendously important in the consideration that you are now giving to this bill.

主席先生，我们在这个国家最腐败的世界上已知的机构之一。 我指的是美国联邦储备委员会和联邦储备银行。 美国联邦储备委员会，一个政府委员会，就欺骗了美国政府和美国人民进行足够的钱来支付国债。 在掠夺和联邦储备委员会的罪孽已花费这个国家足够的钱支付国债若干倍。 这个邪恶的机构有贫困，破坏了美国人民，已经破产本身，实际上已经破产，我们的政府。 它也透过法律的不足之处，它的运作下，通过这项法律不当联邦储备委员会，并通过控制它的谁有钱秃鹫的腐败行为。

有些人认为美国联邦储备银行是美国政府机构。 他们不是政府机构。 他们是私人垄断的信贷后，为自己的利益和他们的外国客户在美国人民的猎物，外国和国内投机者和骗子，以及丰富和掠夺放债人。 在那个有金融海盗黑暗船员是那些谁将削减一个人的喉咙，以得到一美元从他的口袋里，还有那些谁发送into国家的钱购买选票来控制我们的立法，并有那些谁维护国际宣传的我们的欺骗和wheedling进入新的优惠，将允许他们来掩盖他们过去的错误行为，并设置他们的犯罪运动再次给予我们巨大的训练目的。

这些12私人信贷垄断是诡诈和disloyally强加给这个国家的银行家们来到这里谁从欧洲和偿还我们的款待我们破坏我们的美国机构。 这些银行家们把钱从这个国家，以资助对日俄战争日本。 他们创造了在俄罗斯的恐怖统治与我们的钱，以帮助沿战争。 他们煽动德国和俄罗斯之间，从而带动了世界反法西斯战争同盟国之间的楔形单独的和平。 这些资金来自纽约[黎明]托洛茨基的通道，使他对俄罗斯可能协助俄罗斯帝国的毁灭。 他们煽动和唆使的俄国革命，他们放置在托洛茨基在其分支银行之一处置瑞典的美国美元的大型基金，通过他俄罗斯家园可能被彻底打破和俄罗斯儿童扔远，从他们的自然保护范围。 此后，他们开始打破了美国家庭和美国儿童离去。

威尔逊总统
据报道，美国总统威尔逊是由这些银行家，由慈善的关注，他们假定构成欺骗。 有人说，当他发现了他被豪斯上校误导的方式，他转身对那爱管闲事，即“神圣的和尚”金融帝国，并给他开门。 他的宽限期，以做到这一点，在我看来，他应该为它很大的功劳。

威尔逊总统去世了被骗的受害者。 当他来到院长，他的头脑和心脏，他有资格1对这个国家的某些地方理事会高品质，但有一件事他从来没有和他渴望成为，他不是银行家。 他说，他知道银行非常少。 It was, therefore, on the advice of others that the iniquitous Federal Reserve act, the death warrant of American liberty, became law in his administration.

Mr. Chairman, there should be no partisanship in matters concerning the banking and currency affairs of this country, and I do not speak with any.

The Aldrich Bill
In 1912 the National Monetary Association, under the chairmanship of the late Senator Nelson W. Aldrich, made a report and presented a vicious bill called the National Reserve Association bill. This bill is usually spoken of as the Aldrich bill. Senator Aldrich did not write the Aldrich bill. He was the tool, but not the accomplice, of the European-born bankers who for nearly twenty years had been scheming to set up a central bank in this country and who in 1912 had spent and were continuing to spend vast sums of money to accomplish their purpose.

The Aldrich bill was condemned in the platform upon which Theodore Roosevelt was nominated in the year 1912, and in that same year, when Woodrow Wilson was nominated, the Democratic platform, as adopted at the Baltimore convention, expressly stated: “We are opposed to the Aldrich plan for a central bank.” This was plain language. The men who ruled the Democratic Party then promised the people that if they were returned to power there would be no central bank established here while they held the reigns of government.

Thirteen months later that promise was broken, and the Wilson administration, under the tutelage of those sinister Wall Street figures who stood behind Colonel House, established here in our free country the worm-eaten monarchical institution of the “king's bank” to control us from the top downward, and to shackle us from the cradle to the grave. The Federal Reserve act destroyed our old and characteristic way of doing business; it discriminated against our one-name commercial paper, the finest in the world; it set up the antiquated two-name paper, which is the present curse of this country, and which wrecked every country which has ever given it scope; it fastened down upon this country the very tyranny from which the framers of the Constitution sought to save us.

出于对这个共和国保存最大的战役之一，是打出来在这里[安德鲁]杰克逊的一天，当美国，这是在为那些在这里的美国联邦储备法体现同样的错误原则基础上第二银行被抛掷出的存在。 后的美国第二银行于1837年倒台，该国已警告要提防危险，如果可能产生利益的掠夺，被赶出去后，要回来变相团结起来，以执行，并通过他获得控制政府。 这就是掠夺性的利益时，他们没有回来的虚伪涂装和蒙混过关获得了美国联邦储备法案的通过。

该国的反对后，我们来到警告的危险，表现在长期的恐怖训练后，卖国和不诚实的联邦储备委员会和联邦储备银行的事务员完全责任。 这是一个时代，在资金罪的犯罪资金，联邦储备委员会不会扮演一个不偏不倚的旁观者的一部分。

美国联邦储备法
有人说，谁是用来写联邦储备法案文本草拟人员用了他的目的是为爱秩序的法案文本。 有人说，爱秩序法案语言使用，因为奥尔德里奇法案已经起草了专家，律师，似乎是适当的。 这确实是制定了律师。 爱秩序法案是由在纽约市欧洲血统接受银行家。 这是一个副本，并在总体上对国家银行和其他欧洲央行的法规翻译。

50万美元是用于1 of the举办的误导舆论purpose由欧洲银行家in those same关于它的宣传的一部分，以及对给国会的印象，目的是有一个压倒性的是银行类popular demand立法和货币去用它，即实物，货币基础的资产，而不是一个诚实的货币基础上对人的债务和义务黄金和白银的价值。 帕克博士阁下威利斯已经由华尔街银行家和宣传员，当奥尔德里奇措施来化为乌有，他与卡特获得就业机会，协助玻璃画，为银行管理条例草案采用威尔逊，他拨了奥尔德里奇文本法案对他的目的。 没有任何关于它的秘密。 联邦储备法的案文是从一开始就被污染。

Not all of the Democratic Members of the Sixty-third Congress voted for this great deception. Some of them remembered the teachings of Jefferson; and, through the years, there had been no criticisms of the Federal Reserve Board and the Federal Reserve banks so honest, so out-spoken, and so unsparingly as those which have been voiced here by Democrats. Again, although a number of Republicans voted for the Federal Reserve act, the wisest and most conservative members of the Republican Party would have nothing to do with it and voted against it.

A few days before the bill came to a vote, Senator Henry Cabot Lodge, of Massachusetts, wrote to Senator John W. Weeks as follows:

New York City, December 17, 1913
My Dear Senator Weeks:

Throughout my public life I have supported all measures designed to take the Government out of the banking business…. This bill puts the Government into the banking business as never before in our history and makes, as I understand it, all notes Government notes when they should be bank notes.

The powers vested in the Federal Reserve Board seem to me highly dangerous, especially where there is political control of the Board. I should be sorry to hold stock in a bank subject to such domination. The bill as it stands seems to me to open the way to a vast inflation of the currency. There is no necessity of dwelling upon this point after the remarkable and most powerful argument of the senior Senator from New York. I can be content here to follow the example of the English candidate for Parliament who thought it enough “to say ditto to Mr. Burke.” I will merely add that I do not like to think that any law can be passed which will make it possible to submerge the gold standard in a flood of irredeemable paper currency.

I had hoped to support this bill, but I can not vote for it as it stands, because it seems to me to contain features and to rest upon principles in the highest degree menacing to our prosperity, to stability in business, and to the general welfare of the people of the United States.

Very sincerely yours,

Henry Cabot Lodge

In eighteen years that have passed since Senator Lodge wrote that letter of warning all of his predictions have come true. The Government is in the banking business as never before. Against its will it has been made the backer of horse thieves and card sharps, bootleggers, smugglers, speculators, and swindlers in all parts of the world. Through the Federal Reserve Board and the Federal Reserve banks the riffraff of every country is operating on the public credit of this United States Government. Meanwhile, and on account of it, we ourselves are in the midst of the greatest depression we have ever known. Thus the menace to our prosperity, so feared by Senator Lodge, has indeed struck home. From the Atlantic to the Pacific our country has been ravaged and laid waste by the evil practices of the Federal Reserve Board and the Federal Reserve banks and the interests which control them. At no time in our history has the general welfare of the people of the United States been at a lower level or the mind of the people so filled with despair.

Recently in one of our States 60,000 dwelling houses and farms were brought under the hammer in a single day. According to the Rev. Father Charles E. Coughlin, who has lately testified before a committee of this House, 71,000 houses and farms in Oakland County, Michigan, have been sold and their erstwhile owners dispossessed. Similar occurrences have probably taken place in every county in the United States. The people who have thus been driven out are the wastage of the Federal Reserve act. They are the victims of the dishonest and unscrupulous Federal Reserve Board and Federal Reserve banks. Their children are the new slaves of the auction blocks in the revival here of the institution of human slavery.

In 1913, before the Senate Banking and Currency Committee, Mr. Alexander Lassen made the following statement:

“But the whole scheme of the Federal Reserve bank with its commercial-paper basis is an impractical, cumbersome machinery, is simply a cover, to find a way to secure the privilege of issuing money and to evade payment of as much tax upon circulation as possible, and then control the issue and maintain, instead of reduce, interest rates. It is a system that, if inaugurated, will prove to the advantage of the few and the detriment of the people of the United States. It will mean continued shortage of actual money and further extension of credits; for when there is a lack of real money people have to borrow credit to their cost.”

A few days before the Federal Reserve act was passed Senator Elihu Root denounced the Federal Reserve bill as an outrage on our liberties and made the following prediction:

“Long before we wake up from our dreams of prosperity through an inflated currency, our gold, which alone could have kept us from catastrophe, will have vanished and no rate of interest will tempt it to return.”

If ever a prophecy came true, that one did. It was impossible, however, for those luminous and instructed thinkers to control the course of events. On December 23, 1913, the Federal Reserve bill became law, and that night Colonel House wrote to his hidden master in Wall Street as follows:

“I want to say a word of appreciation to you for the silent but no doubt effective work you have done in the interest of currency legislation and to congratulate you that the measure has finally been enacted into law. We all know that an entirely perfect bill, satisfactory to everybody, would have been an impossibility, and I feel quite certain that unless the President had stood as firm as he did we should likely have had no legislation at all. The bill is a good one in many respects; anyhow good enough to start with and to let experience teach us in what direction it needs perfection, which in due time we shall then get. In any event you have personally good reason to feel gratified with what has been accomplished.”

The words “unless the President had stood as firm as he did we should likely have had no legislation at all,” were a gentle reminder that it was Colonel House himself, the “holy monk,” who had kept the President firm.

The foregoing letter affords striking evidence of the manner in which the predatory interests then sought to control the Government of the United States by surrounding the Executive with the personality and the influence of a financial Judas. Left to itself and to the conduct of its own legislative functions without pressure from the Executive, the Congress would not have passed the Federal Reserve act. According to Colonel House, and since this was his report to his master, we may believe it to be true, the Federal Reserve act was passed because Wilson stood firm; in other words because Wilson was under the guidance and control of the most ferocious usurers in New York through their hireling, House. The Federal Reserve act became law the day before Christmas Eve in the year 1913, and shortly afterwards the German international bankers, Kuhn, Loeb and Co., sent one of their partners here to run it.

Federal Reserve Notes
In 1913, when the Federal Reserve bill was submitted to the Democratic caucus, there was a discussion in regard to the form the proposed paper currency should take. The proponents of the Federal Reserve act, in their determination to create a new kind of paper money, had not needed to go outside of the Aldrich bill for a model. By the terms of the Aldrich bill, bank notes were to be issued by the National Reserve Association and were to be secured partly by gold or lawful money and partly by circulating evidences of debt. The first draft of the Federal Reserve bill presented the same general plan, that is, for bank notes as opposed to Government notes, but with certain differences of regulation.

When the provision for the issuance of Federal Reserve notes was placed before President Wilson he approved of it, but other Democrats were more mindful of Democratic principles and a great protest greeted the plan. Foremost amongst those who denounced it was William Jennings Bryan, the Secretary of State. Bryan wished to have the Federal Reserve notes issued as Government obligations. President Wilson had an interview with him and found him adamant. At the conclusion of the interview Bryan left with the understanding that he would resign if the notes were made bank notes. The President then sent for his Secretary and explained the matter to him. Mr. Tumulty went to see Bryan and Bryan took from his library shelves a book containing all the Democratic platforms and read extracts from them bearing on the matter of the public currency. Returning to the President, Mr. Tumulty told him what had happened and ventured the opinion that Mr. Bryan was right and that Mr. Wilson was wrong. The President then asked Mr. Tumulty to show him where the Democratic Party in its national platforms had ever taken the view indicated by Bryan. Mr. Tumulty gave him the book, which he had brought from Bryan's house, and the President read very carefully plank after plank on the currency. He then said, “I am convinced there is a great deal in what Mr. Bryan says,” and thereupon it was arranged that Mr. Tumulty should see the proponents of the Federal Reserve bill in an effort to bring about an adjustment of the matter.

The remainder of this story may be told in the words of Senator Glass. Concerning Bryan's opposition to the plan of allowing the proposed Federal Reserve notes to take the form of bank notes and the manner in which President Wilson and the proponents of the Federal Reserve bill yielded to Bryan in return for his support of the measure, Senator Glass makes the following statement:

The only other feature of the currency bill around which a conflict raged at this time was the note-issue provision. Long before I knew it, the President was desperately worried over it. His economic good sense told him the notes should be issued by the banks and not by the Government; but some of his advisers told him Mr. Bryan could not be induced to give his support to any bill that did not provide for a “Government note.” There was in the Senate and House a large Bryan following which, united with a naturally adversary party vote, could prevent legislation. Certain overconfident gentlemen proffered their services in the task of “managing Bryan.” They did not budge him….

When a decision could no longer be postponed the President summoned me to the White House to say he wanted Federal Reserve notes to “be obligations of the United States.” I was for an instant speechless. With all the earnestness of my being I remonstrated, pointing out the unscientific nature of such a thing, as well as the evident inconsistency of it.

“There is not, in truth, any Government obligation here, Mr. President,” I exclaimed. “It would be a pretense on its face. Was there ever a Government note based primarily on the property of banking institutions? Was there ever a Government issue not one dollar of which could be put out except by demand of a bank? The suggested Government obligation is so remote it could never be discerned,” I concluded, out of breath.

“Exactly so, Glass,” earnestly said the President. “Every word you say is true; the Government liability is a mere thought. And so, if we can hold to the substance of the thing and give the other fellow the shadow, why not do it, if thereby we may save our bill?”

Shadow and substance! One can see from this how little President Wilson knew about banking. Unknowingly, he gave the substance to the international banker and the shadow to the common man. Thus was Bryan circumvented in his efforts to uphold the Democratic doctrine of the rights of the people. Thus the “unscientific blur” upon the bill was perpetrated. The “unscientific blur,” however, was not the fact that the United States Government, by the terms of Bryan's edict, was obliged to assume as an obligation whatever currency was issued. Mr. Bryan was right when he insisted that the United States should preserve its sovereignty over the public currency. The “unscientific blur” was the nature of the currency itself, a nature which makes it unfit to be assumed as an obligation of the United States Government. It is the worst currency and the most dangerous this country has ever known. When the proponents of the act saw that the Democratic doctrine would not permit them to let the proposed banks issue the new currency as bank notes, they should have stopped at that. They should not have foisted that kind of currency, namely, an asset currency, on the United States Government. They should not have made the Government liable on the private debts of individuals and corporations and, least of all, on the private debts of foreigners.

The Federal Reserve note is essentially unsound. As Kemmerer says:

“The Federal Reserve notes, therefore, in form have some of the qualities of Government paper money, but, in substance, are almost a pure asset currency possessing a Government guaranty against which contingency the Government has made no provision whatever.”

Hon. EJ Hill, a former Member of the House, said, and truly:

“They are obligations of the Government for which the United States has received nothing and for the payment of which at any time it assumes the responsibility looking to the Federal Reserve to recoup itself.”

If the United States Government is to redeem the Federal Reserve notes when the general public finds out what it costs to deliver this flood of paper money to the twelve Federal Reserve banks, and if the Government has made no provision for redeeming them, the first element of unsoundness is not far to seek.

Before the Banking and Currency Committee, when the Federal Reserve bill was under discussion, Mr. Crozier, of Cincinnati, said:

“In other words, the imperial power of elasticity of the public currency is wielded exclusively by these central corporations owned by the banks. This is a life and death power over all local banks and all business. It can be used to create or destroy prosperity, to ward off or cause stringencies and panics. By making money artificially scarce, interest rates throughout the country can be arbitrarily raised and the bank tax on all business and cost of living increased for the profit of the banks owning these regional central banks, and without the slightest benefit to the people. These twelve corporations together cover the whole country and monopolize and use for private gain every dollar of the public currency and all public revenue of the United States. Not a dollar can be put into circulation among the people by their Government without the consent of and on terms fixed by these twelve private money trusts.”

Private Credit Corporations
In defiance of this and all other warnings, the proponents of the Federal Reserve act created the twelve private credit corporations and gave them an absolute monopoly of the currency of the United States, not of the Federal Reserve notes alone, but of all the currency, the Federal Reserve act providing ways by means of which the gold and general currency in the hands of the American people could be obtained by the Federal Reserve banks in exchange for Federal Reserve notes, which are not money, but merely promises to pay money. Since the evil day when this was done the initial monopoly has been extended by vicious amendments to the Federal Reserve act and by the unlawful and treasonable practices of the Federal Reserve Board and the Federal Reserve banks.

Mr. Chairman, when a Chinese merchant sells human hair to a Paris wigmaker and bills him in dollars, the Federal Reserve banks can buy his bill against the wigmaker and then use that bill as collateral for the Federal Reserve notes. The United States Government thus pays the Chinese merchant the debt of the wigmaker and gets nothing in return except a shady title to the Chinese hair.

Mr. Chairman, if a Scottish distiller wishes to send a cargo of Scotch whiskey to the United States, he can draw his bill against the purchasing bootlegger in dollars; and after the bootlegger has accepted it by writing his name across the face of it, the Scotch distiller can send that bill to the nefarious open discount market in New York City, where the Federal Reserve Board and the Federal Reserve banks will buy it and use it as collateral for a new issue of Federal Reserve notes. Thus the Government of the United States pays the Scotch distiller for the whiskey before it is shipped; and if it is lost on the way, or if the Coast Guard seizes it and destroys it, the Federal Reserve banks simply write off the loss and the Government never recovers the money that was paid to the Scotch distiller. While we are attempting to enforce prohibition here, the Federal Reserve Board and the Federal Reserve banks are financing the distillery business in Europe and paying bootleggers' bills with the public credit of the United States Government.

Mr. Chairman, if a German brewer ships beer to this country or anywhere else in the world and draws his bill for it in dollars, the Federal Reserve banks will buy that bill and use it as collateral for Federal Reserve notes. Thus, they compel our Government to pay the German brewer for his beer. Why should the Federal Reserve Board and the Federal Reserve banks be permitted to finance the brewing industry in Germany, either in this way or as they do by compelling small and fearful United States banks to take stock in the Isenbeck brewery and in the German bank for brewing industries?

Mr. Chairman, if Dynamite Nobel of Germany wishes to sell dynamite to Japan to use in Manchuria or elsewhere, it can draw its bill against the Japanese customers in dollars and send that bill to the nefarious open discount market in New York City, where the Federal Reserve Board and Federal Reserve banks will buy it and use it as collateral for a new issue of Federal Reserve notes, while at the same time the Federal Reserve Board will be helping Dynamit Nobel by stuffing its stock into the United States banking system. Why should we send our representatives to the disarmament conference at Geneva while the Federal Reserve Board and the Federal Reserve banks are making our Government pay Japanese debts to German munition makers?

Mr. Chairman, if a bean grower of Chile wishes to raise a crop of beans and sell them to a Japanese customer, he can draw a bill against his prospective Japanese customer in dollars and have it purchased by the Federal Reserve Board and Federal Reserve banks and get the money out of this country at the expense of the American people before he has even planted the beans in the ground.

Mr. Chairman, if a German in Germany wishes to export goods to South America or anywhere else, he can draw his bill against his customer and send it to the United States and get the money out of this country before he ships or even manufactures the goods.

Mr. Chairman, why should the currency of the United States be issued on the strength of Chinese human hair? Why should it be issued on the trade whims of a wigmaker? Why should it be issued on the strength of German beer? Why should it be issued on the crop of unplanted beans to be grown in Chile for Japanese consumption? Why should the Government of the United States be compelled to issue many billions of dollars every year to pay the debts of one foreigner to another foreigner? Was it for this that our national-bank depositors had their money taken out of our banks and shipped abroad? Was it for this that they had to lose it? Why should the public credit of the United States Government and likewise money belonging to our national-bank depositors be used to support foreign brewers, narcotic drug vendors, whiskey distillers, wigmakers, human-hair merchants, Chilean bean growers, and the like? Why should our national-bank depositors and our Government be forced to finance the munition factories of Germany and Soviet Russia?

Serving Foreign Interests
Mr. Chairman, if a German in Germany, wishes to sell wheelbarrows to another German, he can draw a bill in dollars and get the money out of the Federal Reserve banks before an American farmer could explain his request for a loan to move his crop to market. In Germany, when credit instruments are being given, the creditors say, “See you, it must be of a kind that I can cash at the reserve.” Other foreigners feel the same way. The reserve to which these gentry refer is our reserve, which, as you know, is entirely made up of money belonging to American bank depositors. I think foreigners should cash their own trade paper and not send it over here to bankers who use it to fish cash out of the pockets of the American people.

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

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

I believe that the nations of the world would have settled down after the World War more peacefully if we had not had this standing temptation here — this pool of our bank depositors' money given to private interests and used by them in connection with illimitable drafts upon the public credit of the United States Government. The Federal Reserve Board invited the world to come in and to carry away cash, credit, goods, and everything else of value that was movable. Values amounting to many billions of dollars have been taken out of this country by the Federal Reserve Board and the Federal Reserve banks for the benefit of their foreign principals. The United States has been ransacked and pillaged. Our structures have been gutted and only the walls are left standing.

While this crime was being perpetrated everything the world could rake up to sell us was brought in here at our own expense by the Federal Reserve Board and the Federal Reserve banks until our markets were swamped with unneeded and unwanted imported goods priced far above their value and made to equal the dollar volume of our honest exports and to kill or reduce our favorable balance of trade. As agents of the foreign central banks, the Federal Reserve Board and the Federal Reserve banks try by every means within their power to reduce our favorable balance of trade. They act for their foreign principals and they accept fees from foreigners for acting against the best interests of the United States. Naturally there has been great competition among foreigners for the favors of the Federal Reserve Board.

What we need to do is to send the reserves of our national banks home to the people who earned and produced them and who still own them and to the banks which were compelled to surrender them to predatory interests. We need to destroy the Federal Reserve pool, wherein our national-bank reserves are impounded for the benefit of the foreigners. We need to make it very difficult for outlanders to draw money away from us. We need to save America for Americans.

Mr. Chairman, when you hold a $10 Federal Reserve note in your hand you are holding a piece of paper which sooner or later is going to cost the United States Government $10 in gold, unless the Government is obliged to give up the gold standard [which it later did --ed]. It is protected by a reserve of 40 per cent or $4 in gold. It is based on Limburger cheese, reputed to be in foreign warehouses; or on cans purported to contain peas but which may contain salt water instead; or on horse meat; illicit drugs; bootleggers' fancies; rags and bones from Soviet Russia of which the United States imported over a million dollars' worth last year; on wines, whiskey, natural gas, on goat or dog fur, garlic on the string, or Bombay ducks. If you like to have paper money which is secured by such commodities, you have it in the Federal Reserve note. If you desire to obtain the thing of value upon which this paper currency is based — that is, the Limburger cheese, the whiskey, the illicit drugs, or any of the other staples — you will have a very hard time finding them. Many of these worshipful commodities are in foreign countries. Are you going to Germany to inspect her warehouses to see if the specified things of value are there? 我想不会。 And what is more, I do not think you would find them there if you did go.

Immense sums belonging to our national-bank depositors have been given to Germany on no collateral security whatever. The Federal Reserve Board and the Federal Reserve banks have issued United States currency on mere finance drafts drawn by Germans. Billions upon billions of our money has been pumped into Germany and money is still being pumped into Germany by the Federal Reserve Board and the Federal Reserve banks. Her worthless paper is still being negotiated here and renewed here on the public credit of the United States Government and at the expense of the American people. On April 27, 1932, the Federal Reserve outfit sent $750,000, belonging to American bank depositors, in gold to Germany. A week later, another $300,000 in gold was shipped to Germany in the same way. About the middle of May $12,000,000 in gold was shipped to Germany by the Federal Reserve Board and the Federal Reserve banks. Almost every week there is a shipment of gold to Germany. These shipments are not made for profit on the exchange since the German marks are below parity with the dollar.

Mr. Chairman, I believe that the national-bank depositors of the United States are entitled to know what the Federal Reserve Board and the Federal Reserve banks are doing with their money. There are millions of national-bank depositors in this country who do not know that a percentage of every dollar they deposit in a member bank of the Federal Reserve system goes automatically to American agents of the foreign banks and that all their deposits can be paid away to foreigners without their knowledge or consent by the crooked machinery of the Federal Reserve act and the questionable practices of the Federal Reserve Board and the Federal Reserve banks. Mr. Chairman, the American people should be told the truth by their servants in office.

In 1930 we had over half a billion dollars outstanding daily to finance foreign goods stored in or shipped between countries. In its yearly total, this item amounts to several billion dollars. What goods are those on which the Federal Reserve banks yearly pledge several billions of dollars of the public credit of the United States? What goods are those which are hidden in European and Asiatic storehouses and which have never been seen by any officer of this Government, but which are being financed on the public credit of the United States Government? What goods are those upon which the United States Government is being obligated by the Federal Reserve banks to issue Federal Reserve notes to the extent of several billions of dollars a year?

Acceptance Banking
The Federal Reserve Board and the Federal Reserve banks have been international bankers from the beginning, with the United States Government as their enforced banker and supplier of currency. But it is none the less extraordinary to see those twelve private credit monopolies buying the debts of foreigners against foreigners in all parts of the world and asking the Government of the United States for new issues of Federal Reserve notes in exchange for them.

I see no reason why the American taxpayers should be hewers of wood and drawers of water for the European and Asiatic customers of the Federal Reserve banks. I see no reason why a worthless acceptance drawn by a foreign swindler as a means of getting gold out of this country should receive the lowest and choicest rate from the Federal Reserve Board and be treated as better security than the note of an American farmer living on American land.

The magnitude of the acceptance racket, as it has been developed by the Federal Reserve banks, their foreign correspondents, and the predatory European-born bankers who set up the Federal Reserve institution here and taught our own brand of pirates how to loot the people — I say the magnitude of this racket is estimated to be in the neighborhood of $9,000,000,000 a year. In the past ten years it is said to have amounted to $90,000,000,000. In my opinion, it has amounted to several times as much. Coupled with this you have, to the extent of billions of dollars, the gambling in the United States securities, which takes place in the same open discount market — a gambling upon which the Federal Reserve Board is now spending $100,000,000 per week.

Federal Reserve notes are taken from the United States Government in unlimited quantities. Is it strange that the burden of supplying these immense sums of money to the gambling fraternity has at last proved too heavy for the American people to endure? Would it not be a national calamity if the Federal Reserve Board and the Federal Reserve banks should again bind this burden down on the backs of the American people and, by means of the long rawhide whips of the credit masters, compel them to enter another seventeen years of slavery? They are trying to do that now. They are taking $100,000,000 of the public credit of the United States Government every week in addition to all their other seizures, and they are spending that money in the nefarious open market in New York City in a desperate gamble to reestablish their graft as a going concern.

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

A fortnight or so ago great aid and comfort was given to Japan by the firm of A. Gerli & Sons, of New York, an importing firm, which bought $16,000,000 worth of raw silk from the Japanese Government. Federal Reserve notes will be issued to pay that amount to the Japanese Government, and these notes will be secured by money belonging to our national-bank depositors.

Why should United States currency be issued on this debt? Why should United States currency be issued to pay the debt of Gerli & Sons to the Japanese Government? The Federal Reserve Board and the Federal Reserve banks think more of the silkworms of Japan than they do of American citizens. We do not need $16,000,000 work of silk in this country at the present time, not even to furnish work to dyers and finishers. We need to wear home-grown and American-made clothes and to use our own money for our own goods and staples. We could spend $16,000,000 in the United States of America on American children and that would be a better investment for us than Japanese silk purchased on the public credit of the United States Government.

Mr. Speaker, on the 13th of January of this year I addressed the House on the subject of the Reconstruction Finance Corporation. In the course of my remarks I made the following statement:

In 1928 the member banks of the Federal Reserve system borrowed $60,598,690,000 from the Federal Reserve banks on their fifteen-day promissory notes. Think of it! Sixty billion dollars payable upon demand in gold in the course of one single year. The actual payment of such obligations calls for six times as much monetary gold as there is in the entire world. Such transactions represent a grant in the course of one single year of about $7,000,000 to every member bank of the Federal Reserve system. Is it any wonder that there is a depression in this country? Is it any wonder that American labor, which ultimately pays the cost of all banking operations of this country, has at last proved unequal to the task of supplying this huge total of cash and credit for the benefit of the stock-market manipulators and foreign swindlers?

Mr. Chairman, some of my colleagues have asked for more specific information concerning this stupendous graft, this frightful burden which has been placed on the wage earners and taxpayers of the United States for the benefit of the Federal Reserve Board and the Federal Reserve banks. They were surprised to learn that member banks of the Federal Reserve system had received the enormous sum of $60,598,690,000 from the Federal Reserve Board and the Federal Reserve banks on their promissory notes in the course of one single year, namely, 1928. Another Member of this House, Mr. Beedy, the honorable gentleman from Maine, has questioned the accuracy of my statement and has informed me that the Federal Reserve Board denies absolutely that these figures are correct. This Member has said to me that the thing is unthinkable, that it can not be, that it is beyond all reason to think that the Federal Reserve Board and the Federal Reserve banks should have so subsidized and endowed their favorite banks of the Federal Reserve system. This Member is horrified at the thought of a graft so great, a bounty so detrimental to the public welfare as sixty and a half billion dollars a year and more shoveled out to favored banks of the Federal Reserve system.

In 1930, while the speculating banks were getting out of the stock market at the expense of the general public, the Federal Reserve Board and the Federal Reserve banks advanced them $13,022,782,000. This shows that when the banks were gambling on the public credit of the United States Government as represented by the Federal Reserve currency, they were subsidized to any amount they required by the Federal Reserve Board and the Federal Reserve banks. When the swindle began to fall, the bankers knew it in advance and withdrew from the market. They got out with whole skins and left the people of the United States to pay the piper.

On November 2, 1931, I addressed a letter to the Federal Reserve Board asking for the aggregate total of member bank borrowing in the years 1928, 1929, 1930. In due course, I received a reply from the Federal Reserve Board, dated November 9, 1931, the pertinent part of which reads as follows:

My Dear Congressman:
In reply to your letter of November 2, you are advised that the aggregate amount of fifteen-day promissory notes of member banks during each of the past three calender years has been as follows:

1928 . 。 。 。 。 。 。 。 。 。 。 。 。 .$60,598,690,000

1929 . 。 。 。 。 。 。 。 。 。 。 。 。 。 58,046,697,000

1930 . 。 。 。 。 。 。 。 。 。 。 。 。 。 13,022,782,000

This will show the gentleman from Maine the accuracy of my statement. As for the denial of these facts made to him by the Federal Reserve Board, I can only say that it must have been prompted by fright, since hanging is too good for a Government board which permitted such a misuse of Government funds and credit.

My friend from Kansas, Mr. McGugin, has stated that he thought the Federal Reserve Board and the Federal Reserve banks lent money by rediscounting. So they do, but they lend comparatively little that way. The real rediscounting that they do has been called a mere penny in the slot business. It is too slow for genuine high flyers. They discourage it. They prefer to subsidize their favorite banks by making these $60,000,000,000 advances, and they prefer to acquire acceptances in the notorious open discount market in New York, where they can use them to control the prices of stocks and bonds on the exchanges. For every dollar they advanced on rediscounts in 1928 they lent $33 to their favorite banks for gambling purposes. In other words, their rediscounts in 1928 amounted to $1,814,271,000, while their loans to member banks amounted to $60,598,690,000. As for their open-market operations, these are on a stupendous scale, and no tax is paid on the acceptances they handle; and their foreign principals, for whom they do a business of several billion dollars every year, pay no income tax on their profits to the United States Government.

International Swindlers
This is the John Law swindle all over again. The theft of Teapot Dome was trifling compared to it. What king ever robbed his subjects to such an extent as the Federal Reserve Board and the Federal Reserve banks have robbed us? Is it any wonder that there have lately been ninety cases of starvation in one of the New York hospitals? Is there any wonder that the children of this country are being dispersed and abandoned?

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

Such were the exploits of Ivar Kreuger, Mr. Hoover's friend, and his hidden Wall Street backers. Every dollar of the billions Kreuger and his gang drew out of this country on acceptances was drawn from the Government and the people of the United States through the Federal Reserve Board and the Federal Reserve banks. The credit of the United States Government was peddled to him by the Federal Reserve Board and the Federal Reserve banks for their own private gain. That is what the Federal Reserve Board and the Federal Reserve banks have been doing for many years. They have been peddling the credit of this Government and the signature of this Government to the swindlers and speculators of all nations. That is what happens when a country forsakes its Constitution and gives its sovereignty over the public currency to private interests. Give them the flag and they will sell it.

The nature of Kreuger's organized swindle and the bankrupt condition of Kreuger's combine was known here last June when Hoover sought to exempt Kreuger's loan to Germany of $125,000,000 from the operation of the Hoover moratorium. The bankrupt condition of Kreuger's swindle was known here last summer when $30,000,000 was taken from the American taxpayers by certain bankers in New York for the ostensible purpose of permitting Kreuger to make a loan to Colombia. Colombia never saw that money. The nature of Kreuger's swindle and the bankrupt condition of Kreuger was known here in January when he visited his friend, Mr. Hoover, at the White House. It was known here in March before he went to Paris and committed suicide there.

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

Mr. Chairman, I believe there should be a congressional investigation of the operations of Kreuger and Toll in the United States and that Swedish Match, International Match, the Swedish-American Investment Corporation, and all related enterprises, including the subsidiary companies of Kreuger and Toll, should be investigated and that the issuance of United States currency in connection with those enterprises and the use of our national-bank depositors' money for Kreuger's benefit should be made known to the general public. I am referring, not only to the securities which were floated and sold in this country, but also to the commercial loans to Kreuger's enterprises and the mass financing of Kreuger's companies by the Federal Reserve Board and the Federal Reserve banks and the predatory institutions which the Federal Reserve Board and the Federal Reserve banks shield and harbor.

A few days ago, the President of the United States, with a white face and shaking hands, went before the Senate on behalf of the moneyed interests and asked the Senate to levy a tax on the people so that foreigners might know that the United States would pay its debt to them. Most Americans thought it was the other way around. What do the United States owe to foreigners? When and by whom was the debt incurred? It was incurred by the Federal Reserve Board and the Federal Reserve banks when they peddled the signature of this Government to foreigners for a price. It is what the United States Government has to pay to redeem the obligations of the Federal Reserve Board and the Federal Reserve banks. Are you going to let those thieves get off scot free? Is there one law for the looter who drives up to the door of the United States Treasury in his limousine and another for the United States veterans who are sleeping on the floor of a dilapidated house on the outskirts of Washington?

The Baltimore & Ohio Railroad is here asking for a large loan from the people and the wage earners and the taxpayers of the United States. It is begging for a hand-out from the Government. It is standing, cap in hand, at the door of the Reconstruction Finance Corporation, where all the other jackals have gathered to the feast. It is asking for money that was raised from the people by taxation, and wants this money of the poor for the benefit of Kuhn, Loeb & Co., the German international bankers. Is there one law for the Baltimore & Ohio Railroad and another for the needy veterans it threw off its freight cars the other day? Is there one law for sleek and prosperous swindlers who call themselves bankers and another law for the soldiers who defended the United States flag?

Mr. Chairman, some people are horrified because the collateral behind Kreuger and Toll debentures was removed and worthless collateral substituted for it. What is this but what is being done daily by the Federal Reserve banks? When the Federal Reserve act was passed, the Federal Reserve banks were allowed to substitute “other like collateral” for collateral behind Federal Reserve notes but by an amendment obtained at the request of the corrupt and dishonest Federal Reserve Board, the act was changed so that the word “like” was stricken out. All that immense trouble was taken here in Congress so that the law would permit the Federal Reserve banks to switch collateral. At the present time behind the scenes in the Federal Reserve banks there is a night-and-day movement of collateral.

A visiting Englishman, leaving the United States a few weeks ago, said that things would look better here after “they cleaned up the mess at Washington.” Cleaning up the mess consists in fooling the people and making them pay a second time for the bad foreign investments of the Federal Reserve Board and the Federal Reserve banks. It consists in moving that heavy load of dubious and worthless foreign paper — the bills of wigmakers, brewers, distillers, narcotic-drug vendors, munition makers, illegal finance drafts, and worthless foreign securities, out of the banks and putting it on the back of American labor.

That is what the Federal Reserve Board is doing now. They talk about loans to banks and railroads but they say very little about that other business of theirs which consists in relieving the swindlers who promoted investment trusts in this country and dumped worthless foreign securities into them and then resold that mess of pottage to American investors under cover of their own corporate titles. The Reconstruction Finance Corporation is taking over those worthless securities from those investment trusts with United States Treasury money at the expense of the American taxpayer and the wage earner.

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

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

Is not it high time that we had an audit of the Federal Reserve Board and the Federal Reserve banks and an examination of all our Government bonds and securities and public moneys instead of allowing the corrupt and dishonest Federal Reserve Board and the Federal Reserve banks to speculate with those securities and this cash in the notorious open discount market of New York City? [The Fed has never been audited yet --ed]

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

After the several raids on the Treasury Mr. Mills borrows the speech of those who protested against those raids and speaks now with pretended horror of a raid on the Treasury. Where was Mr. Mills last October when the United States Treasury needed $598,000,000 of the taxpayers' money which was supposed to be in the safe-keeping of [Treasury Secretary] Andrew W. Mellon in the designated depositories of Treasury funds, and which was not in those depositories when the Treasury needed it? Mr. Mills was the Assistant Secretary of the Treasury then, and he was at Washington throughout October, with the exception of a very significant week he spent at White Sulphur Springs closeted with international bankers, while the Italian minister, Signor Grandi, was being entertained — and bargained with — at Washington.

What Mr. Mills is fighting for is the preservation whole and entire of the banker's monopoly of all the currency of the United States Government. What Mr. Patman proposes is that the Government shall exercise its sovereignty to the extent of issuing some currency for itself. This conflict of opinion between Mr. Mills as the spokesman of the bankers and Mr. Patman as the spokesman of the people brings the currency situation here into the open. Mr. Patman and the veterans are confronted by a stone wall — the wall that fences in the bankers with their special privileges. Thus, the issue is joined between the host of democracy, of which the veterans are a part, and the men of the king's bank, the would-be aristocrats, who deflated American agriculture and robbed this country for the benefit of their foreign principals.

Mr. Chairman, last December, I introduced a resolution here asking for an examination and an audit of the Federal Reserve Board and the Federal Reserve banks and all related matters. If the House sees fit to make such an investigation, the people of the United States will obtain information of great value. This is a Government of the people, by the people, for the people. Consequently, nothing should be concealed from the people. The man who deceives the people is a traitor to the United States. The man who knows or suspects that a crime has been committed and who conceals or covers up that crime is an accessory to it.

Mr. Speaker, it is a monstrous thing for this great Nation of people to have its destinies presided over by a traitorous Government board acting in secret concert with international usurers. Every effort has been made by the Federal Reserve Board to conceal its power but the truth is the Federal Reserve Board has usurped the Government of the United States. It controls everything here and it controls all our foreign relations. It makes and breaks governments at will. No man and no body of men is more entrenched in power than the arrogant credit monopoly which operates the Federal Reserve Board and the Federal Reserve banks.

These evil-doers have robbed this country of more than enough money to pay the national debt. What the National Government has permitted the Federal Reserve Board to steal from the people should now be restored to the people. The people have a valid claim against the Federal Reserve Board and the Federal Reserve banks. If that claim is enforced, Americans will not need to stand in the breadlines or to suffer and die of starvation in the streets. Homes will be saved, families will be kept together, and American children will not be dispersed and abandoned. The Federal Reserve Board and the Federal Reserve banks owe the United States Government an immense sum of money. We ought to find out the exact amount of the people's claim. We should know the amount of the indebtedness of the Federal Reserve Board and the Federal Reserve banks to the people and we should investigate this treacherous and disloyal conduct of the Federal Reserve Board and the Federal Reserve banks.

Here is a Federal Reserve note. Immense numbers of these notes are now held abroad. I am told that they amount to upwards of a billion dollars. They constitute a claim against our Government and likewise a claim against the money our people have deposited in the member banks of the Federal Reserve system. Our people's money to the extent of $1,300,000,000 which has within the last few months been shipped abroad to redeem Federal Reserve notes and to pay other gambling debts of the traitorous Federal Reserve Board and the Federal Reserve banks. The greater part of our monetary stock has been shipped to foreigners. Why should we promise to pay the debts of foreigners to foreigners? Why should our Government be put into the position of supplying money to foreigners? Why should the Federal Reserve Board and the Federal Reserve banks be permitted to finance our competitors in all parts of the world?

Do you know why the tariff was raised? It was raised to shut out the flood of Federal Reserve goods pouring in here from every quarter of the globe — cheap goods, produced by cheaply paid foreign labor on unlimited supplies of money and credit sent out of this country by the dishonest and unscrupulous Federal Reserve Board and the Federal Reserve banks. Go out in Washington to buy an electric light bulb and you will probably be offered one that was made in Japan on American money. Go out to buy a pair of fabric gloves and inconspicuously written on the inside of the gloves that will be offered to you will be found the words “made in Germany” and that means “made on the public credit of the United States Government paid to German firms in American gold taken from the confiscated bank deposits of the American people.”

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

The International Superstate
Mr. Chairman, when the Federal Reserve act was passed, the people of the United States did not perceive that a world system was being set up here which would make the savings of an American school-teacher available to a narcotic-drug vendor in Macao. They did not perceive that the United States were to be lowered to the position of a coolie country which has nothing but raw materials and heavy goods for export; that Russia [and China --ed] was destined to supply the man power and that this country was to supply financial power to an international superstate — a superstate controlled by international bankers and international industrialists acting together to enslave the world for their own pleasure.

The people of the United States are being greatly wronged. If they are not, then I do not know what “wronging the people” means. They have been driven from their employments. They have been dispossessed of their homes. They have been evicted from their rented quarters. They have lost their children. They have been left to suffer and to die for lack of shelter, food, clothing, and medicine.

The wealth of the United States and the working capital of the United States has been taken away from them and has either been locked in the vaults of certain banks and the great corporations or exported to foreign countries for the benefit of the foreign customers of those banks and corporations. So far as the people of the United States are concerned, the cupboard is bare. It is true that the warehouses and coal yards and grain elevators are full, but the warehouses and coal yards and grain elevators are padlocked and the great banks and corporations hold the keys. The sack of the United States by the Federal Reserve Board and the Federal Reserve banks is the greatest crime in history.

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

What is needed here is a return to the Constitution of the United States. We need to have a complete divorce of Bank and State. The old struggle that was fought out here in Jackson's day must be fought over again. The independent United States Treasury should be re-established and the Government should keep its own money under lock and key in the building the people provided for that purpose. Asset currency, the device of the swindler, should be done away with. The Government should buy gold and issue United States currency on it. The business of the independent bankers should be restored to them. The State banking systems should be freed from coercion The Federal Reserve districts should be abolished and the State boundaries should be respected. Bank reserves should be kept within the borders of the States whose people own them, and this reserve money of the people should be protected so that the international bankers and acceptance bankers and discount dealers can not draw it away from them. The exchanges should be closed while we are putting our financial affairs in order. The Federal Reserve act should be repealed and the Federal Reserve banks, having violated their charters, should be liquidated immediately. Faithless Government officers who have violated their oaths of office should be impeached and brought to trial.

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

分享在Facebook