Stop Them Logo

Page 2    Skip to Page 3 / 4   Return to Page 1    Return Home

_______________________________________________________________________________________

Evil Uncle Sam

SHADOW GOVERNMENT      And the Takedown of America (Continued, Page 2)

On Friday, May 2, 1997 the United States paid tribute to a president that left his indelible stamp on the nation. A granite and bronze memorial was dedicated to Franklin Delano Roosevelt on the shores of the Potomac River, and, during the ceremony, his grandson said, "We gather to pay tribute not to a man, but to an era." The following examines the elements at work behind the president who ushered in the New Deal and those hidden powers who still work their evil will today.  


The Great Depression

FRANKLIN DELANO ROOSEVELT AND HIS FRAUDULENT SYSTEM

Franklin Roosevelt  

  Franklin Delano Roosevelt

 

During the President Roosevelt bronze memorial dedication ceremony in 1997, President Clinton called FDR "the greatest American president of this great American century." He also said Roosevelt was "a master politician and a magnificent commander in chief."

When Roosevelt was inaugurated in March 1933, the U.S. was at the nadir of the worst depression in its history. A quarter of the workforce was unemployed. Farmers were in deep trouble as prices fell by 60%. Industrial production had fallen by more than half since 1929. Two million were homeless. By the evening of March 4, 32 of the 48 states, as well as the District of Columbia had closed their banks.[39] The New York Federal Reserve Bank was unable to open on the 5th, as huge sums had been withdrawn by panicky customers in previous days.[40] Beginning with his inauguration address, Roosevelt began blaming the economic crisis on bankers and financiers, the quest for profit, and the self-interest basis of capitalism:

Primarily this is because rulers of the exchange of mankind's goods have failed through their own stubbornness and their own incompetence, have admitted their failure, and have abdicated. Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by the hearts and minds of men. True they have tried, but their efforts have been cast in the pattern of an outworn tradition. Faced by failure of credit they have proposed only the lending of more money. Stripped of the lure of profit by which to induce our people to follow their false leadership, they have resorted to exhortations, pleading tearfully for restored confidence....The money changers have fled from their high seats in the temple of our civilization. We may now restore that temple to the ancient truths. The measure of the restoration lies in the extent to which we apply social values more noble than mere monetary profit.[41]

To know the future prospect of our current economic crisis, and how Presidnet Obama under the tutelage of the Federal Reserve will manage it, simply review what Roosevelt and the Fed did during the Great Depression.

"We have nothing to fear but fear itself."

Roosevelt orchestrated fear masterfully to manipulate the American people for three presidential terms. Despair allowed him to be cheered as he trampled the Constitution. Despair allowed him to pass legislation and effect policies overnight that would have otherwise had no chance of being enacted. Fear is the fuel of government power, driving unbridled change to the American landscape. If you want to a roadmap of where, and how, those driving our economy are planning to take you, follow Franklin Roosevelt's path. Historians categorized Roosevelt's programs as "relief, recovery and reform." The same words President Obama is envoking today. Relief was urgently needed by tens of millions of unemployed. Recovery meant boosting the economy back to normal. Reform meant long-term fixes of what was wrong, especially with the financial and banking systems. Roosevelt's series of radio talks, known as fireside chats, presented his proposals directly to a fearful and ignorant American public. [42] Roosevelt warned of "chaos." Obama warns of "catastrophe."

First New Deal, 19331934

Roosevelt's "First 100 Days" concentrated on the first part of his strategy: immediate relief. From March 9 to June 16, 1933, he sent Congress a record number of bills, all of which passed easily. To propose programs, Roosevelt relied on leading Senators such as George Norris, Robert F. Wagner and Hugo Black, (Nancy Pelosi, Harry Reid) as well as his Brain Trust of academic advisers (former Clinton administration, Treasury Secretary Geitener and Chaurman Bernanke of the Federal Reserve). Like Hoover, (like Obama) he saw the Depression caused in part by people no longer spending or investing because they were afraid.

His inauguration on March 4, 1933 occurred in the middle of a bank panic, hence the backdrop for his famous words: "The only thing we have to fear is fear itself." To give Americans confidence in the banks, Roosevelt signed the Glass-Stegall Act that created the Federal Deposit Insurance Corporation. (F.D.I.C.)

Depression Era Woman and Children      
Depression era migrant mother Forence Owens Thompson
     

At left, Photographer Dorothea Lange's Migrant Mother depicts destitute pea pickers during the depression in California, centering on Florence Owens Thompson, a mother of seven children at age 32, March 1936.

Relief measures included the continuation of Hoover's major relief program for the unemployed under the new name, Federal Emergency Relief Administration. The most popular of all New Deal agencies, and Roosevelt's favorite, was the Civilian Conservation Corps (CCC), which hired 250,000 unemployed young men to work on rural local projects.

Congress also gave the Federal Trade Commission broad new regulatory powers and provided mortgage relief to millions of farmers and homeowners.

Roosevelt expanded a Hoover agency, the Reconstruction Finance Corporation, making it a major source of financing to railroads and industry.

  Crop Picking Depression Era
 
  Crop pickers, Salinas, California, 1936

Roosevelt made agriculture relief a high priority and set up the first Agricultural Adjustment Administration (AAA). The AAA tried to force higher prices for commodities by paying farmers to take land out of crops and to cut herds. Higher prices for food! How was this good for the people?

Large farms benefited from the AAA policy of reducing surpluses, having "gross farm income increase by 50% during the first three years of the New Deal". This was achieved because large landowners would evict tenant farmers and sharecroppers in order to keep them from farming their leased acreage; the landowner would then receive the payment for not farming the land. Furthermore, those same land owners, having forced out some of the competition, would then use those displaced farmers as cheap farm labor. It is well doumented the federal government has pursued policies  that displace the family farm with land grabs. See the recent best seller, "Government Pirates."

While deficit spending had been recommended by some economists, most notably by John Maynard Keynes of Britain, many economists in retrospect have argued that the National Labor Relations Act and Agricultural Adjustment Administration were ineffective policies because they relied on price fixing.

Insight to the mind of Franklin Roosevelt can be found in many of his quotes:

"I hope your committee will not permit doubts as to constitutionality, however reasonable, to block the suggested legislation."

"In time of this grave national danger, when all excess income should go to win the war, no American citizen ought to have a net income, after he has paid his taxes, of more than $25,000 a year."

"Whoever seeks to set one race against another seeks to enslave all races."

"If I went to work in a factory the first thing I'd do is join a union."

"And while I am talking to you mothers and fathers, I give you one more assurance. I have said this before, but I shall say it again and again and again: Your boys are not going to be sent into any foreign wars."

"A great man left a watchword that we can well repeat: There is no indispensable man."

"We have always held to the hope, the belief, the conviction that there is a better life, a better world, beyond the horizon."

"There is a mysterious cycle in human events. To some generations much is given. Of other generations much is expected. This generation of Americans has a rendezvous with destiny."

Roosevelt's socialistic, fascist programs so overeached the Constitution, the Supreme Court unanimously overturned his unconstitutional legislation, that is until Roosevelt could pack a new Supreme Court in subsequent years. Ultimately, Roosevelt's actions were largely responsible for presidential term limits enacted in the form of an amendment to the Constitution.

Reform of the economy was the goal of the National Industrial Recovery Act (NIRA) of 1933. It tried to end cutthroat competition by forcing industries to come up with codes that established the rules of operation for all firms within specific industries, such as minimum prices, agreements not to compete, and production restrictions. Industry leaders negotiated the codes which were then approved by NIRA officials. Industry needed to raise wages as a condition for approval. Provisions encouraged unions and suspended anti-trust laws. The NIRA was found to be unconstitutional by unanimous decision of the U.S. Supreme Court on May 27, 1935. Roosevelt opposed the decision, saying "The fundamental purposes and principles of the NIRA are sound. To abandon them is unthinkable. It would spell the return to industrial and labor chaos."[45]

In 1933, major new banking regulations were passed. In 1934, the Securities and Exchange Commission was created to regulate Wall Street, with 1932 campaign fundraiser Joseph P. Kennedy in charge.

  People Living in Tents
 
  Congressional archives photo of depression era homeless family

Recovery was pursued through "pump-priming" (that is, federal spending). The NIRA included $3.3 billion of spending through the Public Works Administration to stimulate the economy, which was to be handled by Interior Secretary Harold Ickes. Roosevelt worked with Republican Senator George Norris to create the largest government-owned industrial enterprise in American history, the Tennessee Valley Authority (TVA), which built dams and power stations, controlled floods, and modernized agriculture and home conditions in the poverty-stricken Tennessee Valley. The repeal of prohibition also brought in new tax revenues and helped him keep a major campaign promise. Similarly, President Obama has proposed and passed legislation to instigate massive government infrastructure and energy projects costing trillions of dollars.

If ever there was a day of infamy, April 5, 1933, qualifies. In a controversial move, Roosevelt gave Executive Order 6102 which made all privately held gold of American citizens property of the US Treasury. Which is to say, it was a crime for any American citizen to posses gold. For the first time, gold was demonetized and Americans were forced to surrender their gold coins to the government. Prison terms of ten years were in effect should any American citizen not turn over their gold. You received a $20 bill in exchange for your $20 gold coin. Later that year, gold was revalued from $20.67 per ounce to $35. The citizen was first plundered, then humiliated, by the monster Roosevelt. This gold confiscation by executive order was argued to be unconstitutional, but Roosevelt's executive order asserts authority to do so based on the "War Time Powers Act" of 1917. (More on this to follow later in this Part I expose, and how Roosevelt effectively suspended the Constitution to further his economic socialist and fascist schemes to change America.)

(Gold bullion remained illegal for Americans to own until President Ford rescinded the order in 1974.) [46][47][48][49]

Roosevelt tried to keep his campaign promise by cutting the regular federal budget, including 40% cuts to veterans' benefits and cuts in overall military spending. He removed 500,000 veterans and widows from the pension rolls and slashed benefits for the remainder. Protests erupted, led by the Veterans of Foreign Wars. Roosevelt held his ground, but when the angry veterans formed a coalition with Senator Huey Long and passed a huge bonus bill over his veto, he was defeated. He succeeded in cutting federal salaries and the military and naval budgets. He reduced spending on research and education.

Roosevelt also kept his promise to push for repeal of Prohibition. In April 1933, he issued an Executive Order redefining 3.2% alcohol as the maximum allowed. That order was preceded by Congressional action in the drafting and passage of the 21st Amendment, which was ratified later that year.

Important to note, Roosevelt's economic policies are largely seen by economists to have failed and to have prolonged the Great Depression and joblessness for ten years. When he was elected to office in 1932, unemployment was at 25%. After a blizzard of federal regulations against free enterprise, attempts at citizen pay caps, price fixing, and social programs, unemployment stood at near 20% in 1938, and stayed high, with median joblessness rate during the New Deal of 17.2% until it almost vanished during World War II when the previously unemployed were conscripted, taking them out of the potential labor supply number. The non-partisan Congressional Budget Office predicts the same for our current economic situation because the policies of our current President are significantly the same as those of Roosevelt.

  John Dewey Philosopher
 
  John Dewey, Philosopher

To be a successful socialist is to not utter the word, "socialism." Of FDR, Rexford Tugwell wrote: "He had a good Harvard education when Fabianism was developing, and he probably knew quite well the works of H.G. Wells and George Bernard Shaw (Fabian Socialists)." Well-connected socialists early this century were familiar with the political winds and helped influence the direction they were beginning to blow. John Dewey, the father of humanism, wrote in Individualism, Old and New (1929): "We are in for some kind of socialism, call it by whatever name we please, and no matter what it will be called when it is realized....There is still enough vitality in the older individualism to offer a very serious handicap to any party or program which calls itself by the name Socialism....The older individualism is still sufficiently ingrained to obtain allegiance in confused sentiment and in vocal utterance." It was clear to Mr. Dewey that if socialism was to come about, it would have to bear a different title. Later, in 1929, came the stock market crash which brought about the intended condition of despair in this country and the subsequent election of Roosevelt and the "New Deal".

"New Deal" was the new title chosen for the socialist agenda. Curtis Dall, FDR's son-in-law, doubted that FDR was the originator of this vast "recovery" effort. In his book, FDR: My Exploited Father-in-Law (1967) he stated, "For a long time I felt that FDR had developed many thoughts and ideas that were his own to benefit this country, the USA. But he didn't. Most of his thoughts, his political 'ammunition,' as it were, was carefully manufactured for him in advance by the CFR-One World Money Group."

The CFR (Council on Foreign Relations) One-World Money Group was the "power behind the throne", so to speak, and Fabianism was the religion or social doctrine of that inner circle of power with world domination and control its consummate objective. FDR was not only acquainted with the works of Fabian socialist, H.G. Wells, as Rexford Tugwell wrote, but he was on friendly terms with him.

Wells, himself, spoke somewhat of the conspiracy taking place to rule the world. In his book, Experiment in Autobiography (1934) he commented, "The organization of this that I call the Open Conspiracy, the evocation of a greater sounder fellow to the Communist essay, an adequately implemented Liberal Socialism, which will ultimately supply teaching, coercive and directive public services to the whole world, is the immediate task." He went on to say when the consummate objective would be reached. "It's coming is likely to happen very quickly....Sometimes I feel that generations of propaganda and education may have to precede it....Plans for political synthesis seem to grow bolder and more extensive."

After reading Wells' Experiment in Autobiography, FDR wrote to him and said, "How do you manage to retain such extraordinarily clear judgments? ...I believe our (FDR's administration) biggest success is making people think during these past two years. They may not be thinking straight but they are thinking in the right direction---and your direction and mine are not so far apart...."

About fourteen months earlier, FDR had written to Wells and said, "I have read, with pleasure and profit, almost everything that you have written....You are doing much to educate people everywhere, and for that I am grateful."

Wells has also been quoted as describing FDR as "the most effective transmitting instrument possible for the coming of the new world order....He is continuously revolutionary in the new way without ever provoking a stark revolutionary crisis"...by using words like "socialism" and such.

  Joseph Kennedy, Sr.
     Joseph Kennedy, Sr.

When reelection time for FDR rolled around in 1936, it was determined by the One-World Money Group that FDR should continue in office. Joseph Kennedy, JFK's father and former chairman of the Securities and Exchange Commission was quoted in the New York Times as saying, "Fifty men have run America, and that's a high figure....I don't see how anybody giving any thought to the trends all over the world can help but feel there is something in the air in the advancement of some new social order....That is why I feel it is of the greatest importance to reelect Mr. Roosevelt."

By this time some members of FDR's own party were becoming quite uncomfortable with the direction he was taking the nation. Alfred Smith, former presidential candidate and mayor of New York City, delivered a speech in Washington, D.C.,entitled, "Betrayal of the Democratic Party." He had supported FDR in 1932, but in this speech of January 25, 1936, he stated:

"Just get the platform of the Democratic Party, and get the platform of the Socialist Party, and lay them down on your dining room table, side by side, and get a heavy lead pencil and scratch out the word 'Democrat', and scratch out the word 'Socialist,' and let the two platforms lay there. Then study the record of the present administration up to date. After you have done that, make your mind up to pick up the platform that more nearly squares with the record, and you will put your hand on the Socialist platform."

  Communist Party USA Logo
 
     Logo            Communist Party USA

By 1936 the Communist Party of the United States of America (CPUSA) was effectively supporting Roosevelt in much of his trade union work. While continuing to run its own candidates for office, the CPUSA pursued a policy of representing the Democratic Party as the lesser evil in elections. - Source: Wikipedia

This communist Party exists today: Communist Party of the United States of America

As he was using a compliant Congress to pass radical "New Deal" legislation, the threat of war began to loom again in Europe. Although the majority of Americans were against involvement in another European war, Roosevelt campaigned hard against what his party termed "isolationism". A world war was essential for the building of the New World Order and once Japan had been lured into attacking Pearl Harbor, Americans gullibly supported their country's entry into the war. (See Pearl Harbor: The Mother of All Conspiracies or http://www.geocities.com/Pentagon/6315/pearl.html wherein it is well documented that Roosevelt knowingly sacrificed men, aircraft and ships in order to get into a war with Hitler and Germany. To this day, the National Security Agency maintains secrecy. WHAT ARE THEY HIDING? Why won't they let the truth out?

  Roosevelt the Traitor

Such secrecy breeds mistrust in government. The only thing that is left to hide are JN-25 decrypts and worksheets showing that the US and Britain monitored the Japanese attack fleet all the way to Pearl Harbor. That is the scandal. That is the big secret. It raises the issue of not only of Roosevelt being guilty of treason, but whether the NSA is accessory after the fact to treason. Which means we are no different from the tyranny we decry. A self-governing people must have truth to make proper decisions. By subverting the truth, the National Security Agency is subverting our Democracy. Truth we owe the men of Pearl Harbor. Until we tell the full truth, we dishonor them and every soldier and sailor who gave their life for their country. Should their lives have been sacrificed for treason and no one know, they had died in vain. If their honor was sacrificed to treason - we are not a nation of law. More on Roosevelt and additional sins will be told in subsequent parts to this report.

USS Arizona Burning

USS Arizona burns, sacrificed by Roosevelt in Pearl Harbor attack?

"He who controls the past, controls the future. He who controls the present, controls the past." - Orwell

As World War II was winding down, the CFR-One-World Money Group was moving forward on its plans for the United Nations, the successor to the failed League of Nations. Encountering the same opposition Woodrow Wilson did to the sell-out of American sovereignty to a global super-government, FDR picked up his pen and began working on a speech designed to assuage American misgivings. He wrote, "The only limit to our realization of tomorrow will be our doubts of today. Let us move forward with strong and active faith." He wrote this on April 12, 1945, in Warm Springs, Georgia. This was also the day he died.

Roosevelt Reign Causes 22nd Amendment to the Constitution Limiting Presidents to Two Terms

Franklin Delano Roosevelt was first elected President in 1932, and re-elected in 1936. When it came time for the Democrats to nominate a candidate for the Presidency in 1940, two things had happened. First, the Republicans had made great gains in Congress in the 1938 elections. And Hitler happened. Europe was in the throes of a great war, with trouble in the Pacific, too. A change away from Roosevelt, who had led the nation through the Great Depression, did not seem wise. He was nominated for an unprecedented third term, and won. It was not a landslide victory, however, and it is debatable that FDR would have had a third term had it not been for the war. When 1944 rolled around, changing leaders in the middle of World War II, which the United States was now fully engaged in, also seemed unwise, and FDR ran for and was elected to, a fourth term.

  Roosevelt in Wheelchair
 
   One of only a few known photographs     of President Roosevelt in a wheelchair

His life was nearly over, however, and his Vice President, Harry Truman, became President upon FDR's death less than 100 days after his inauguration. Though FDR's leadership was seen by many as a key reason that the U.S. came out of WWII victorious, the Congress was determined, once the war ended, to ensure that Washington's self-imposed two-term limit become the law of the land. Specifically excepting Truman from its provisions, the 22nd Amendment passed Congress on March 21, 1947. After Truman won a second term in 1948, it was ratified on February 27, 1951 (1,439 days). Truman could have run for a third term, but bowed out early before campaigning began.

After Roosevelt's death, a reporter asked Truman, as Roosevelt's Vice President, what he thought was most significant about President Roosevelt, the man whom was so beloved by the American people. Truman reportedly thought, then replied, "He was a great leader and politician, who didn't give one damn about the people." This, Roosevelt hid as well as he hid that he was wheelchair-bound.

The Winds published in 1997, over fifty years later at a Roosevelt memorial dedication, President Clinton saying "At this time, where the pinnacle that Roosevelt hoped America would achieve in our influence and power has come to pass, we still strangely fight battles with doubts, doubts that he would treat with great impatience and disdain, doubts that lead some to urge us to pull back from the world at the very first time since Roosevelt's time when we actually can realize his vision of world peace and world prosperity and the dominance of the ideals for which he gave his life....Let us honor his vision."

Then, still cleverly seeking to confuse the "older individualism" with doubt and unbelief, Clinton said, "Every time you think of Franklin Roosevelt, put aside your doubts. Become more American. Become more like him. Be infused with his strong and active faith."

This "strong and active faith" President Clinton and his sponsors would have us infused with is the faith of quiet compliance with the schemes of wicked men. They would have us mindlessly swallow the propaganda of peace, even while they practice terror and extortion around the globe. They would have us sleep on while they quietly remove our few remaining freedoms and safely imprison the world in the satanic citadel of world socialism. Their plans are doomed to failure. The present "doubts" that "lead some to urge us to pull back" are growing cracks in the foundation of this false system. Any system such as this one, that is built on force and fraud, will certainly come to its end. - Source The WINDS. Written 5/19/97 and ending with a quote from Jeremiah 51:25,26:

"Behold, I am against you, O destroying mountain, says the Lord, which destroys all the earth; I will stretch out my hand against you and remove your foundation from the rock, and will make you a burnt mountain...you shall be desolate forever."

Lest you think there is unfair criticism of President Roosevelt in this expose', and wonder why credible leaders and members of Congress have not been more vocal about the takedown of America, read these formal charges by a brave congressman...

Congressman Brings Formal Charges Against Federal Reserve

On May 23, 1933, Congressman, Louis T. McFadden, brought formal charges against the Board of Governors of the Federal Reserve Bank system, The Comptroller of the Currency and the Secretary of United States Treasury for numerous criminal acts, including but not limited to, CONSPIRACY, FRAUD, UNLAWFUL CONVERSION, AND TREASON.

House of Representatives Seal

Congressman McFadden
on the Federal Reserve Corporation
Remarks in Congress, 1934

THE UNITED STATES IS RANSACKED

AN ASTOUNDING EXPOSURE: The petition for Articles of Impeachment was thereafter referred to the Judiciary Committee and has YET TO BE ACTED ON. So, this ELECTRONIC BOOKLET should be reprinted, reposted, set up on web pages and circulated far and wide.

Congressman McFadden's Speeches On the Federal Reserve Corporation: Following are quotations from several speeches made on the Floor of the House of Representatives by the Honorable Louis T. McFadden of Pennsylvania. Mr. McFadden was elected to the high office on both the Democratic and Republican tickets, so there can be no accusation of partisanship lodged against him. Because these speeches are set out in full in the Congressional Record, they carry weight that no amount of condemnation on the part of private individuals could hope to carry. Read them,understand them, and they will change your life: http://home.hiwaay.net/~becraft/mcfadden.htm

CONGRESSMAN McFADDEN'S INDICTMENT:

The Federal Reserve -A Corrupt Institution

"Mr. Chairman, we have in this Country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the Fed. The Fed has cheated the Government of these United States and the people of the United States out of enough money to pay the Nation's debt. The depredations and iniquities of the Fed has cost enough money to pay the National debt several times over.

"This evil institution has impoverished and ruined the people of these United States, has bankrupted itself, and has practically bankrupted our Government. It has done this through the defects of the law under which it operates, through the maladministration of that law by the Fed and through the corrupt practices of the moneyed vultures who control it.

"Some people who think that the Federal Reserve Banks United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lender. In that dark crew of financial pirates there are those who would cut a man's throat to get a dollar out of his pocket; there are those who send money into states to buy votes to control our legislatures; there are those who maintain International propaganda for the purpose of deceiving us into granting of new concessions which will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime.

"These twelve private credit monopolies were deceitfully and disloyally foisted upon this Country by the bankers who came here from Europe and repaid us our hospitality by undermining our American institutions. Those bankers took money out of this Country to finance Japan in a war against Russia. They created a reign of terror in Russia with our money in order to help that war along. They instigated the separate peace between Germany and Russia, and thus drove a wedge between the allies in World War. They financed Trotsky's passage from New York to Russia so that he might assist in the destruction of the Russian Empire. They fomented and instigated the Russian Revolution, and placed a large fund of American dollars at Trotsky's disposal in one of their branch banks in Sweden so that through him Russian homes might be thoroughly broken up and Russian children flung far and wide from their natural protectors. They have since begun breaking up of American homes and the dispersal of American children. "Mr. Chairman, there should be no partisanship in matters concerning banking and currency affairs in this Country, and I do not speak with any.

"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, if not the accomplice, of the European bankers who for nearly twenty years had been scheming to set up a central bank in this Country and who in 1912 has spent and were continuing to spend vast sums of money to accomplish their purpose.

"We were opposed to the Aldrich plan for a central bank. The men who rule 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 from the cradle to the grave.

"The Federal Reserve Bank destroyed our old and characteristic way of doing business. It discriminated against our 1-name commercial paper, the finest in the world, and it set up the antiquated 2-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 the Country the very tyranny from which the framers of the Constitution sough to save us.

President Jackson's Time

"One of the greatest battles for the preservation of this Republic was fought out here in Jackson's time; when the second Bank of the United States, founded on the same false principles of those which are here exemplified in the Fed was hurled out of existence. After that, in 1837, the Country was warned against the dangers that might ensue if the predatory interests after being cast out should come back in disguise and unite themselves to the Executive and through him acquire control of the Government. That is what the predatory interests did when they came back in the livery of hypocrisy and under false pretenses obtained the passage of the Fed.

"The danger that the Country was warned against came upon us and is shown in the long train of horrors attendant upon the affairs of the traitorous and dishonest Fed. Look around you when you leave this Chamber and you will see evidences of it in all sides. This is an era of misery and for the conditions that caused that misery, the Fed are fully liable. This is an era of financed crime and in the financing of crime the Fed does not play the part of a disinterested spectator.

"It has been said that the draughts man who was employed to write the text of the Aldrich bill because that had been drawn up by lawyers, by acceptance bankers of European origin in New York. It was a copy, in general a translation of the statues of the Reichsbank and other European central banks. One-half million dollars was spent on the part of the propaganda organized by these bankers for the purpose of misleading public opinion and giving Congress the impression that there was an overwhelming popular demand for it and the kind of currency that goes with it, namely, an asset currency based on human debts and obligations. Dr. H. Parker Willis had been employed by Wall Street and propagandists, and when the Aldrich measure failed- he obtained employment with Carter Glass, to assist in drawing the banking bill for the Wilson administration. He appropriated the text of the Aldrich bill. There is no secret about it. The test of the Federal Reserve Act was tainted from the first.

"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. "'The powers vested in the Federal Reserve Board seen 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 dominations. The bill as it stands seems to me to open the way to a vast inflation of the currency. "'I had hoped to support this bill, but I cannot vote for it cause 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 Truly 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, bootlegger's smugglers, speculators, and swindlers in all parts of the world. Through the Fed the riffraff of every country is operating on the public credit of the United States Government.

The Great Depression

"Meanwhile and on account of it, we ourselves are in the midst of the greatest depression we have ever known. From the Atlantic to the Pacific, our Country has been ravaged and laid waste by the evil practices of the Fed and the interests which control them. At no time in our history, has the general welfare of the people been at a lower level or the minds of the people so full of despair.

"Recently in one of our States, 60,000 dwelling houses and farms were brought under the hammer in a single day. 71,000 houses and farms in Oakland County, Michigan, were sold and their erstwhile owners dispossessed. The people who have thus been driven out are the wastage of the Fed. They are the victims of the Fed. Their children are the new slaves of the auction blocks in the revival of the institution of human slavery.

The Scheme of the Fed

"In 1913, before the Senate Banking and Currency Committee, Mr. Alexander Lassen made the following statement: 'The whole scheme of the Fed with its commercial paper is an impractical, cumbersome machinery- is simply a cover 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 reducing interest rates. It will prove to the advantage of the few and the detriment of the people. It will mean continued shortage of actual money and further extension of credits, for when there is a shortage of money people have to borrow to their cost.' A few days before the Fed passed, Senator Root denounced the Fed as an outrage on our liberties. He predicted: 'Long before we wake up from our dream 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.

"The Fed 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.

"The Fed Note is essentially unsound. It is the worst currency and the most dangerous that 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. "As Kemerer says: 'The Fed 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 guarantee against which contingency the Government has made no provision whatever.'

"Hon. L.J.Hill, a former member of the House, said, and truly: "They are obligations of the Government for which the United States received nothing and for the payment of which at any time, it assumes the responsibility: looking to the Fed to recoup itself.'

"If this United States is to redeem the Fed Notes, when the General Public finds it costs to deliver this paper to the Fed, and if the Government has made no provisions for redeeming them, the first element of unsoundness is not far to seek.

"Before the Banking and Currency Committee, when the bill was under discussion Mr. Crozier of Cincinnati said: 'The imperial power of elasticity of the public currency is wielded exclusively by the 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. The 12 Corporations together cover 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 12 private money trusts.'

"In defiance of this and all other warnings, the proponents of the Fed created the 12 private credit corporations and gave them an absolute monopoly of the currency of these United States- not of the Fed Notes alone- but of all other currency! The Fed Act providing ways and means by which the gold and general currency in the hands of the American people could be obtained by the Fed in exchange for Fed Notes- which are not money- but mere promises to pay.

"Since the evil day when this was done, the initial monopoly has been extended by vicious amendments to the Fed and by the unlawful and treasonable practices of the Fed.

Money for the Scottish Distillers

"Mr. Chairman, if a Scottish distiller wishes to send a cargo of Scotch whiskey to these 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 Fed will buy it and use it as collateral for a new issue of Fed Notes. Thus the Government of these United States pay 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 Fed 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 Fed are in the distillery business in Europe and paying bootlegger bills with public credit of these United States. "Mr. Chairman, by the same process, they compel our Government to pay the German brewer for his beer. Why should the Fed 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 Dynamit Nobel of Germany, wishes to sell dynamite in Japan to use in Manchuria or elsewhere, it can drew its bill against the Japanese customers in dollars and send that bill to the nefarious open discount market in New York City where the Fed will buy it and use it as collateral for a new issue of Fed Notes - while at the same time the Fed 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 Fed is making our Government pay Japanese debts to German Munitions makers?

"Mr. Chairman, if a German 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 Fed 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 any other Country, he can draw his bill against his customers and send it to these 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 these United States be issued on the strength of German Beer? Why should it be issued on the crop of unplanted beans to be grown in Chili for Japanese consumption? Why should these 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 these United States and likewise money belonging to our National Bank depositors be used to support foreign brewers, narcotic drug vendors, whiskey distillers, wig makes, human hair merchants, Chilean bean growers, to finance the munitions factories of Germany and Soviet Russia?

The United States Has Been Ransacked

"The United States has been ransacked and pillaged. Our structures have been gutted and only the walls are left standing. While being perpetrated, everything the world would rake up to sell us was brought in here at our expense by the Fed until our markets were swamped with unneeded and unwanted imported goods priced far above their value and make to equal the dollar volume of our honest exports, and to kill or reduce our favorite balance of trade. As Agents of the foreign central banks the Fed try by every means in their power to reduce our favorable balance of trade. They act for their foreign principal and they accept fees from foreigners for acting against the best interests of these United States. Naturally there has been great competition among among foreigners for the favors of the Fed.

"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.

"Mr. Chairman, there is nothing like the Fed pool of confiscated bank deposits in the world. It is a public trough of American wealth in which the foreigners claim rights, equal to or greater than Americans. The Fed are the 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 our 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.

"We need to destroy the Fed wherein our national reserves are impounded for the benefit of the foreigners. "We need to save America for Americans.

Spurious Securities

"Mr. Chairman, when you hold a $10.00 Fed Note in your hand, you are holding apiece of paper which sooner or later is going to cost the United States Government $10.00 in gold (unless the Government is obliged to go off the gold standard). It is based on limburger cheese (reported to be in foreign warehouses) or in cans purported to contain peas (but may contain salt water instead), or horse meat, illicit drugs, bootleggers fancies, rags and bones from Soviet Russia (of which these United States imported over a million dollars worth last year), on wines whiskey, natural gas, goat and dog fur, garlic on the string, and Bombay ducks.

"If you like to have paper money- which is secured by such commodities- you have it in Fed 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? I think more, I do not think that you would find them there if you did go.

"On April 27, 1932, the Fed 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. About the middle of May $12,000,000 in gold was shipped to Germany by the Fed. 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 blow parity with the dollar.

"Mr. Chairman, I believe that the National Bank depositors of these United States have a right to know what the Fed are doing with their money. There are millions of National Bank depositors in the Country who do not know that a percentage of every dollar they deposit in a Member Bank of the Fed 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 Fed and the questionable practices of the Fed.

[Ed. Note- Problem with next paragraph in original] "Mr. Chairman, the American people should be told the truth by their servants in office. In 1930, we had over a half billion dollars outstanding daily to finance foreign goods stored in or shipped between several billion dollars. What goods are these on which the Fed yearly pledge several billions of dollars. In its yearly total, this item amounts to several billions of dollars of the public credit of these United States?

"What goods are those which are hidden in European and Asiatic stores have not been seen by any officer of our Government but which are being financed on the public credit of the United States Government? What goods are those upon which the 17 United States Government is being obligated by the Fed to issue Fed Notes to the extent of several billions of dollars a year?

The Bankers' Acceptance Racket

"The Fed have been International Banks from the beginning, with these United States as their enforced banker and supplier of currency. But it is none the less extraordinary to see these these twelve private credit monopolies, buying the debts of foreigners against foreigners, in all parts of the world and asking the Government of these United States for new issues of Fed notes in exchange for them. "The magnitude of the acceptance racket as it has been developed by the Fed, their foreign correspondents, and the predatory European born bankers, who set up the Fed here and taught your own, by and 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 per year. In the past ten years it is said to have amounted to $90,000,000,000.00. In my opinion it has amounted to several times that much. coupled to 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 on which the Fed is now spending $100,000,000.00 per week.

"Fed Notes are taken from the U.S. Government in unlimited quantities. Is is 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 to] again bind down this burden on the backs of the American people and by means of a long rawhide whip of the credit masters, compel them to enter another seventeen years of slavery?

"They are trying to do that now. They are trying to take $100,000,000.00 of the public credit of the United States every week, in addition to all their other seizures and they are sending that money to the nefarious open market 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 our Government securities for themselves and their foreign principals. Our people are disgusted with the experiences of the Fed. The Fed 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.

"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 Fed borrowed $60,598,690,000. from the Fed on their fifteen-day promissory notes. Think of it. Sixty billion dollars payable on demand in gold in the course of one single year. The actual amount of such obligations called for six times as much monetary gold as there is in the world. Such transactions represent a grant in the course of one single years of about $7,000,000 to every member of the Fed.

"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? "In 1933 the Fed presented the staggering amount of $60,598,690,000 to its member banks at the expense of the wage earners and tax payers of these United States. In 1929, the year of the stock market crash, the Fed advanced $58,000,000,000 to member banks.

"In 1930 while the speculating banks were getting out of the stock market at the expense of the general public, the Fed advanced them $13,022,782,000. This shows that when the banks were gambling on the public credit of these United States as represented by the Fed currency they were subsidized to any amount they required by the Fed. 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 these United States to pay the piper. "My friend from Kansas, Mr. McGugin, has stated that he thought the Fed lent money on rediscounting. So they do, but they lend comparatively little that way. The real discounting 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 them $60,000,000,000 advances and they prefer to acquire assistance in the notorious open discount market in New York, where they can use it to control the price of stocks and bonds on the exchanges.

"For every dollar they advanced on discounts in 1928, they lent $33.00 to their favorite banks for whom they do a business of several billion dollars income tax on their profits to these United States.

The John Law Swindle

"This is the John Law swindle over again. The theft of Teapot Dome was trifling compared to it. What King ever robbed his subject to such an extent as the Fed has robbed us? Is it any wonder that there have been lately ninety cases of starvation in one of the New York hospitals? Is there any wonder that the children are being abandoned?

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

Ivar Kreuger, the Match King!

"Such were the exploits of Ivar Kreuger, Mr. Hoover's friend, and his rotten 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 Fed. The credit of the United States Government was peddled to him by the Fed for their own private gain. That is what the Fed has 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 Krueger'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 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.

"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 Krueger and his gigantic combine by the Fed, 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 Fed took care of Krueger's requirements.

"A few days ago, the President of the United States with a white face and shaking hands, went before the Senate of behalf of the moneyed interests and asked the Senate to levy a tax on the people so that foreigners might know that these United States would pay its debt to them.

"Most Americans thought it was the other way around. What does these United States owe foreigners? When and by whom was the debt incurred? It was incurred by the Fed, when they peddled the signature of the Government to foreigners- for a Price. It is what the United States Government has to pay to redeem the obligations of the Fed.

Page 2    Continue reading Congressman McFadden's indictment before Congress and more on  Page 3 / 4 

Return to Page 1    Return Home