This comes from my friend, Tad…. A worthy set of quotes to consider, in light of where we are economically and how so many people have been duped by so few:
“The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it.” John Kenneth Galbraith
“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
“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
“Give me control of a nation’s money and I care not who makes her laws.”
– Mayer Amschel Rothschild, Europe’s first internationalist central banker. His descendants control The Fed and the Bank of England today.
“When the President signs this act [Federal Reserve Act of 1913], the invisible government by the money power ~ proven to exist by the Monetary Trust Investigation ~ will be legalized. The new law will create inflation whenever the trusts want inflation. From now on, depressions will be scientifically created.” -Charles A. Lindbergh, Sr., Congressman (R-MN), father of famous aviator.
“We have what is known as the Federal Reserve Bank System. That system is not owned by the Government. Many people think that it is because it says “Federal Reserve.” It belongs to private banks, private corporations. So we have farmed out to the Federal Reserve Banking System that which is owned exclusively, wholly, one hundred percent to the private banks. We have farmed out to them the privilege of issuing the Government’s money!” – Wright Patman [John William Wright Patman] (TX-D) – Source: Congressional Record (29 Sep. 1941)
“No State shall… coin money; emit bills of credit; make any thing but gold and silver coin a tender in payment of debts….”
– United States Constitution, Article 1, Section 10, Clause 1
“The bank hath benefit of interest on all moneys which it creates out of nothing.” -William Paterson, founder of the Bank of England in 1694, the UK’s privately owned central bank.
The following statements were made during hearings of the House Committee on Banking and Currency, September 30, 1941. Governor Marriner Eccles was Chairman of the Federal Reserve Board at the time of these hearings:
Congressman Patman: “How did you get the money to buy those two billion dollars worth of Government securities in 1933?”
— Governor Eccles: “Out of the right to issue credit money.”
— Patman: “And there is nothing behind it, is there, except our Government’s credit ?”
— Eccles: “That is what our money system is. If there were no debts in our money system, there wouldn’t be any money.”
— Congressman Fletcher: “Chairman Eccles, when do you think there is a possibility of returning to a free and open market, instead of this pegged and artificially controlled financial market we now have?”
— Governor Eccles: “Never, not in your lifetime or mine.”
More General Quotes:
“Some people think the Federal Reserve Banks are US government institutions. They are not… they are private credit monopolies which prey upon the people of the US for the benefit of themselves and their foreign and domestic swindlers, and rich and predatory money lenders. The sack of the United States by the Fed is the greatest crime in history. Every effort has been made by the Fed to conceal its powers, but the truth is the Fed has usurped the government. It controls everything here and it controls all our foreign relations. It makes and breaks governments at will.” – Louis McFadden (1876-1936) US Congressman (R-PA) (1915-1935), Chairman of House Banking and Currency Committee. McFadden was shot at twice, then poisoned in 1936.
In regard to the current financial collapse surrounding subprime lending: “The Fed refused to perform its oversight duties because its friends in the banking industry were raking in obscene profits selling sketchy, subprime junk to gullible investors around the world. They knew about the “massive off balance-sheet positions” which allowed the banks’ to create mortgage-backed securities and CDOs without sufficient capital reserves. They knew it all; every last bit of it, which simply proves that the Federal Reserve is an organization which serves the exclusive interests of the banking establishment and their corporate brethren in the financial industry. Surprised?” – Mike Whitney: It’s Time to Dump the Federal Reserve
Our founding Fathers knew of this threat:
“I place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt.” – Thomas Jefferson
“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 (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.” – Thomas Jefferson
“If we run into such debts as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England are, our people, like them, must come to labor sixteen hours in the twenty-four, and give the earnings of fifteen of these to the government for their debts and daily expenses; And the sixteen being insufficient to afford us bread, we must live, as they do now, on oatmeal and potatoes, have no time to think, no means of calling the mismanagers to account; But be glad to obtain subsistence by hiring ourselves to rivet their chains around the necks of our fellow sufferers; And this is the tendency of all human governments. A departure from principle in one instance becomes a precedent for a second, that second for a third, and so on ’til the bulk of society is reduced to mere automatons of misery, to have no sensibilities left but for sinning and suffering…and the forehorse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression.” – Thomas Jefferson
One last quote, again for contextual understanding. I don’t know when it was written or spoken: “Historically, the United States has been a hard money country. Only since 1913 has the United States operated on a fiat money system. During this period, paper money has depreciated over 87%. During the preceding 140 year period, the hard currency of the United States had actually maintained its value. Wholesale prices in 1913… were the same as in 1787.” – Kenneth Gerbino former chairman of the American Economic Council
“Unrestrained capitalism is a form of societal self-mutilation.” John L. Mann
” What is not being said ? What does Bernanke see that he would take the inflationary risk of expanding the Federal Reserve by another 1.2 Trillion ? What is Bernanke not telling us ?
Quite possibly, it’s the fact that the Bank of International Settlements reports a grand total of $57.3 trillion in credit default swaps, more than 28 times larger than AIG’s CDS portfolio !