“I sincerely believe that banking institutions are more dangerous to our liberties than standing armies…The issuing power should be taken from the banks and restored to the people to whom it properly belongs.”—Thomas Jefferson
Coming off what the experts are calling his second victory over Senator John McCain in Round Two of their three-part debate Tuesday night, if indeed he becomes President Barack Obama, should he be more concerned with the antics of bankers than the bombs of terrorists or enemy nations? Certain ones of America’s founding fathers fought a fine fight of futility against the bankers, but nonetheless prophesied that banks would bully an unsuspecting populace as Thomas Jefferson implied above.
James Madison echoed Jefferson’s concern when he said: “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 money and its issuance.” Enter the Federal Reserve Bank (or simply, “the Fed”), the “Bank of all Banks.” Even if Obama was to battle the Federal Reserve Bank, he would need an army to do it. But, irony abounds: He would need the Fed itself to finance his war with it. But, what exactly is the Fed? Who started it? What were the circumstance surrounding its conception? What are its powers? Hopefully a brief overview of its history will illuminate the uninitiated. Consider these four basic points:
First, the Federal Reserve Bank is neither “federal,” nor does it have a “reserve.” It is a private corporation just like FedEx, which, despite the word “federal” in its company title, everyone knows is a private corporation that competes the likes of United Parcel Service (UPS). But the Fed is purposely named that to give the impression that it is a government agency that ultimately reports to the people through their representatives in congress. Nothing could be further from the truth. In her book Money Creators (1982), Gertrude Margaret Coogan stated bluntly: “The Fed is not controlled by Congress, but by multinational corporations.”
Among those familiar with banking and finance, this stunning information is well documented common knowledge. For instance, another author, Eustace Mullins, expands on the power of the Fed in her book, The Secrets of the Federal Reserve (1985): “It [the Fed] is entirely privately owned, although it seeks to give the appearance of a governmental institution. It has the right to print and issue money, the traditional prerogative of monarchs. It is set up to provide financing for wars. It functions as a money monopoly having total power over the money and credit of the people.”
Second, the private banking corporation called the Federal Reserve Bank does not have a “reserve” of money. It simply makes money up out of thin air! It can manufacture inflation (which is in effect another tax), and rob you of all that you have. Prophet Thomas Jefferson said it all when he wrote: “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless.” But, how does the Fed affect you personally? Well, in case you don’t know, it has a collection arm to it. You may have heard of it: the IRS. That’s right, the Internal Revenue Service.
Third, given this bleak outlook, how in the world did the Federal Reserve Bank come into existence in the first place? Well, hold on to your dollars (or, should I say pennies), because you’re in for a shock.
“The Federal Reserve Act was passed at 11:45 p.m. on Christmas Eve, after all the opposing Senators had gone home to celebrate Christmas. Those who wanted the Federal Reserve had a quorum and passed the legislation in an unprecedented move,” says one source. And how many senators did it take to pass the bill? Three. President Woodrow Wilson signed the act on December 23, 1913. Why did the President buy into it? Because he bought into the idea of a central bank long before he entered politics. (He later regretted this move.)
Rhode Island Senator Nelson Aldrich introduced the concept of central banking, called the Aldrich Plan, based on his observation of this system in Britain and Germany. According to the book, The Federal Reserve Bank (1967) by H. S. Kennan, “Woodrow Wilson, President of Princeton University, was the first prominent educator to speak in favor of the Aldrich Plan, a gesture which immediately brought him the governorship of New Jersey and later the Presidency of the United States. During the Panic of 1907, Wilson declared that, ‘all this trouble could be averted if we appointed a committee of six or seven public spirited men like J. P. Morgan to handle the affairs of our country.” Given its dubious history, Congressman Ron Paul of Texas introduced the Federal Reserve Board Abolition Act, HR 2755 IH. Obviously, it didn’t pass. The Fed is still here.
Fourth, bankers are effectively immune to laws. Years ago one of the gods of central banking, Mayer Rothschild, a member of the famed European-based global banking Rothschild dynasty, said: “Let me control a nation’s money and I care not who writes its laws.” For now, bankers rule as they use politicians like tools. So, how will President Obama fare in his battle with the banks? Ask the Rothschilds. Or, one can observe art imitating life as captured in movies like Wall Street (1987), and in books like Predators’ Ball (1989), Barbarians at the Gates (1990), and Den of Thieves (1992). But, how can YOU deal with the current economic crises caused by ‘private bankers’? There are several things to consider:
Recognize there’s nothing wrong with money. In fact, “money is for a protection” against abject poverty. (Ecclesiastes 7:12) What is condemned in the Good Book is “the love of money.” (1 Timothy 6:10) This is why an elder in the congregation cannot be “a lover of money.” (1 Timothy 3:3) Indeed, all are admonished to “Let your manner of life be free of the love of money, while you are content with the present things. For [God] has said: ‘I will by no means leave you nor by any means forsake you.’” (Hebrews 13:5) No, dear brothers and sisters, you don’t have to take your life, or the lives of your family because of stress over financial matters. Tragically, this is what 45-year-old Karthik Rajaram did to himself and his family in the Porter Ranch section of Los Angeles earlier this week.
Remember to KISS it: Keep It Simple and Sweet. “For,” says Scripture, “we have brought nothing into the world, and neither can we carry anything out. So, having sustenance and covering, we shall be content with these things.” (1 Timothy 6:7) Stay up. Stay strong. God bless. Amen.
Word for the Week (or is it “Weak”?): avarice: “immoderate desire for wealth”; also known as one of the “Seven Deadly Sins.”