FED RESERVE HISTORY thanks to Midas

The Truth about Money
When you look closely at the money in your wallet or purse, you will notice, at the top of each bill, the words “Federal Reserve Note”. What is the Federal Reserve? Most Americans cannot answer that question. This is quite understandable, as the folks at the Federal Reserve Bank do not publish much information about their activities – and for good reason. Most Americans assume the Federal Reserve Bank is a branch of Government. It is not. The Federal Reserve Bank is a private corporation, owned by foreign interests. This bank and its stockholders control the entire wealth of America.To better understand the true identity and purpose of this corporation, one must go back to the earliest days of our Nation.During the period after the Revolution, our Founding Fathers were approached by representatives of wealthy European banking families who proposed the establishment of a bank for use by America. This bank would provide the money that our young nation would need to grow into a world power. However, the Founding Fathers refused their proposal. The United States, being a sovereign nation, was fully capable of creating its own money supply. This power “to coin money and regulate the value thereof” was given to our Congress in the Constitution.Aside from knowing that the United States had the power to create its own currency, the Founding Fathers were well aware of the motives of the European bankers…. namely, to siphon off the wealth and natural resources of the people through various methods of currency manipulation, just as they had done throughout history in every major country of Europe. Thomas Jefferson expressed the prevailing attitude toward these men when he warned “If the American People ever allow private banks to control the issue of their currency… the banks and the corporations that will grow up around them will deprive the people of all prosperity until their children wake up homeless on the continent their fathers conquered”. The private European banking families, although unsuccessful in their first attempt to gain control over our currency, did not give up. During the next one hundred years, they tried on several occasions to establish their Central bank for America, but the American people, still mindful of Jefferson’s warning, quickly caught on to their paper money “tricks”, and public sentiment remained against them.Finally in 1907, a banking panic shifted public opinion against the American banking industry. The European families recognized that finally their chance to take full control of America’s banking system had arrived.Fanning the flames of public outrage toward the existing banking system, the European bankers began through the newspapers they owned and lobby groups they funded, to call for “full banking reform”. They clamored for Congressional investigations into the current banking system, and offered their expertise in drafting reforms that would protect the public future bank failures.By 1912, so widespread was public concern over banking reform that Presidential candidates from each political party offered their own carefully drafted versions of a national monetary reform bill. What the public had no way of knowing was that the two main “competing” reform bills were virtually identical, as the same German banker, Paul Warburg, wrote both. The public also had no way of knowing that the election campaigns of the three 1912 Presidential candidates were financed by Warburg’s firm (Kuhn, Loeb Company), one of the wealthiest and oldest banking houses of Europe. By controlling not only the content of the banking reform bill, but also the results of the 1912 Presidential election, the foreign banking interests were guaranteed that their dream, the establishment of a Central Bank for America (and complete control over America’s currency), would finally be realized.In 1913, the foreign banker’s Central bank plan, intentionally mis-titled “The Federal Reserve Act”, was signed into law by newly elected president Woodrow Wilson. This bill officially transferred Congress’s Constitutional duty to issue America’s currency into the hands of a private corporation, The Federal Reserve Bank of New York. Stock in this private corporation was not made available to the public, and was purchased by only the powerful banking families.At its inception, the activities of the Federal Reserve Bank were intended to be monitored by the President and Congress. However, over the years, through repeated subtle changes in legislation, the operations of this corporation have been completely independent of all Congressional control. Extremely secretive in its operation, this corporation even refuses to be audited by the United States Government.To understand how the Federal Reserve Bank has successfully transferred the wealth and resources of the mightiest nation on earth into the pockets of its privileged shareholders, it is only necessary to examine the procedure that this corporation employs to create our currency.When the management of the Federal Reserve Bank proclaims that one billion dollars should be created for use by the American people, they simply write a check for one billion dollars. By doing so, new money is thereby created out of thin air, as the Federal Reserve Bank, the creator of money, is not required to have any actual funds of its own to cover this check! With this check they then purchase one billion dollars’ worth of US Treasury Bonds from major banks and brokerage houses. The banks and brokerage houses now have one billion “new dollars” in their accounts, which they will then loan out into the economy. In exchange for the check, the Federal Reserve Bank, a private corporation with private stockholders, now owns one billion dollars’ worth of US Treasury Bonds. Wouldn’t most of us like to be able to open a checkbook with a balance of zero, write a check out for one billion dollars, then instantly have one billion dollars worth of interest-bearing Treasury Bonds placed into our account? Is it any wonder the European banking families were so persistent in their efforts to be granted the right to issue American currency?When the Federal Reserve Bank takes possession of US Treasury Bonds, it also takes control of the real wealth of America, as it is the labor and property of millions of citizens, transferred into the Treasury through taxes, that backs up the actual worth of these Treasury obligations. Each time the private corporation called the Federal Reserve Bank of New York “purchases” a billion dollars in Bonds, one billion dollars worth of American labor and prosperity must eventually be confiscated by the Treasury to “cover the check”. It may now be obvious why Thomas Jefferson so vehemently fought the issuance of America’s currency by a private bank.To add to the oppressive nature of our current money system, the Federal Reserve Bank will collect annual interest on the Treasury Bonds it holds, further adding to the indebtedness of the American citizens to the Treasury.One sometimes hears the term “debt money” used to describe the notes issued by the Federal Reserve. Under our present system of money creation, it is a sad fact that each dollar note issued by this corporation places one dollar’s worth of debt onto the backs of the American population.The effect of the Federal Reserve Bank on our Nation and its citizens has been devastating. Since 1913, the value of the American Dollar has fallen to 11 cents. Our Gold reserves have vanished. Interest rates rise and fall arbitrarily. A continually-inflated money supply wipes out the value of life-long savings. Within five years, interest payments on the national debt will exceed all revenues collected annually by the Treasury. Sadly, not one in a 100,000 Americans would be able to guess the identity of the actual group responsible for these tragic statistics.The Federal Reserve Notes in our Wallets and purses are not Constitutional money. They are in fact pieces of paper that document America’s ever-growing debt to the very clever, very persistent, and very wealthy stockholders of the Federal Reserve Bank.