Federal Reserve Bank Quotes: The Central Bank Fraud


The Northwest Report
December 12, 2010
(continually updated)

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THE ROTHSCHILDS / THE ROCKEFELLERS

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“The few who understand the system, will either be so interested from it’s profits or so dependent on it’s favors, that there will be no opposition from that class.”

- Rothschild Brothers of London writing to their associates in New York, June 25, 1863.

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“Let me issue and control a nation’s money, and I care not who writes its laws.”

- Mayer Amschel Bauer Rothschild (1773-1855), London financier, one of the founders of the international Rothschild banking dynasty, 1838.

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“We are grateful to the Washington Post, the New York Times, Time Magazine, and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years…It would have been impossible for us to develop our plan for the world if we had been subjected to the lights of publicity during those years. But, the world is now more sophisticated and prepared to march towards a world government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries.”

- David Rockefeller, Bilderberg meeting, June 1991, Baden, Germany.

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“I care not what puppet is placed on the throne of England to rule the Empire upon which the sun never sets. The man that controls Britain’s money supply controls the British Empire. And I control the money supply.”

- Mayer Amschel Bauer Rothschild (1773-1855), London financier, one of the founders of the international Rothschild banking dynasty.
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“Some even believe we [the Rockefeller family] are part of a secret cabal working against the best interests of the United States, characterizing my family and me as ‘internationalists’ and of conspiring with others around the world to build a more integrated global political and economic structure – one world, if you will. If that’s the charge, I stand guilty, and I am proud of it.”

- David Rockefeller, David Rockefeller: Memoirs, p. 405.

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“From the earliest days, the Rothschilds appreciated the importance of proximity to politicians, the men who determined not only the extent of budget deficits but also the domestic and foreign policies…”

- Niall Ferguson, British historian who specializes in financial and economic history as well as the history of colonialism, The House of Rothschild: Money’s Prophets 1798-1848.

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“By remaining behind the scenes, they [the Rothschilds] were able to avoid the brunt of public anger which was directed, instead, at the political figures which they largely controlled. This is a technique which has been practiced by financial manipulators ever since, and it is fully utilized by those who operate the Federal Reserve System today.”

“The reason it is difficult is that we have been conditioned to laugh at conspiracy theories, and few people will risk public ridicule by advocating them. On the other hand, to endorse the accidental view is absurd. Almost all of history is an unbroken trail of one conspiracy after another. Conspiracies are the norm, not the exception.”

- G. Edward Griffin, Federal Reserve Historian, The Creature from Jekyll Island.

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“The drive of the Rockefellers and their allies is to create a one-world government combining super capitalism and Communism under the same tent, all under their control….Do I mean conspiracy? Yes I do. I am convinced there is such a plot, international in scope, generations old in planning, and incredibly evil in intent.”

- Congressman Larry [Lawrence] P. McDonald, foreword to The Rockefeller File, 1976, killed in the Korean Airlines 747 that was shot down by Soviets.

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“Lord Rothschild had access to all manner of leaders and experts. He was responsible only to the Prime Minister and answerable to neither the electorate nor the civil service chiefs.”

-Derek Wilson, Rothschild: A Story of Wealth and Power.

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“The division of the United States into federations of equal force was decided long before the Civil War by the high financial powers of Europe. These bankers were afraid that the United States, if they remained in one block and as one nation, would attain economic and financial independence, which would upset their financial domination over the world. The voice of the Rothschilds prevailed…Therefore they sent their emissaries into the field to exploit the question of slavery and to open an abyss between the two sections of the Union.”

- Otto von Bismarck (1815-1898), Founder of the German Empire, Prime minister of Prussia, Germany’s First Chancellor, after the Lincoln assassination.

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“This remarkable coup could only have been achieved by a complex series of dealings, many of which were encased in a secrecy which cannot now be penetrated.”

- Derek Wilson, Rothschild: A Story of Wealth And Power. Discussing how in only 5 years (1810-1815), Nathan Rothschild became main banker for the British government and the Bank of England.

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“Throughout the first half of the nineteenth century, the [Rothschild] brothers conducted important transactions on behalf of the governments of England, France, Prussia, Austria, Belgium, Spain, Naples, Portugal, Brazil, various German states and smaller countries. They were the personal bankers of many of the crowned heads of Europe. They made large investments, through agents, in markets as distant as the United States, India, Cuba and Australia.”

- G. Edward Griffin, Federal Reserve Historian, The Creature from Jekyll Island

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UNITED STATES SENATORS AND CONGRESS

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“In March, 1915, the J.P. Morgan interests, the steel, shipbuilding, and powder interest, and their subsidiary organizations, got together 12 men high up in the newspaper world and employed them to select the most influential newspapers in the United States and sufficient number of them to control generally the policy of the daily press…They found it was only necessary to purchase the control of 25 of the greatest papers. An agreement was reached; the policy of the papers was bought, to be paid for by the month; an editor was furnished for each paper to properly supervise and edit information regarding the questions of preparedness, militarism, financial policies, and other things of national and international nature considered vital to the interests of the purchasers.”

- Oscar Callaway (1872-1947), Congressman (TX), Congressional Record of February 9, 1917, entered by Representative Oscar Callaway, p. 2,947.

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“The fact is that there is a serious danger of this country becoming a Pluto-democracy; that is, a sham republic with the real government in the hands of a small clique of enormously wealthy men, who speak through their money, and whose influence, even today, radiates to every corner of the United States.”

- William McAdoo (1863-1941), US Senator (D-CA), Secretary of Treasury, President Wilson’s national campaign vice-chairman, Crowded Years, 1974.

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“I believe that if the people of this nation fully understood what Congress has done to them over the last 49 years, they would move on Washington; they would not wait for an election….It adds up to a preconceived plan to destroy the economic and social independence of the United States!”

- George W. Malone (1890-1961), Senator (R-NV), speaking before Congress, 1957.

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“Of all contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money.”

- Daniel Webster (1782-1852), Senator (MA) (NH), Secretary of State, a notable orator and leading constitutional lawyer.

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“We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people.”

- Daniel Webster (1782-1852), Senator (MA) (NH), Secretary of State, a notable orator and leading constitutional lawyer, speech in the Senate, 1833.

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“The money power denounces, as public enemies, all who question its methods or throw light upon its crimes.”

- William Jennings Bryan (1860-1925), Congressman (D-NE), US Secretary of State (1913-1915) under President Woodrow Wilson, Democratic Party nominee for President 1896, 1900, and 1908.

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“Nothing but widespread suffering will produce any effect on Congress…Our only safety is in pursuing a steady course of firm restriction – and I have no doubt that such a course will ultimately lead to restoration of the currency and the re-charter of the bank.”

- Nicholas Biddle (1786–1844). Nicholas was an American financier who served as the president of the Second National Bank of the United States. He threatened to cause a depression in 1833 if Andrew Jackson did not recharter the bank.

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“Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States.”

“Now those who seek absolute power, even though they seek it to do what they regard as good, are simply demanding the right to enforce their own version of heaven on earth, and let me remind you they are the very ones who always create the most hellish tyranny.”

- Barry Goldwater (1909-1998), Senator (R-AZ), Republican Party’s nominee for President in the 1964 election, “Mr. Conservative”.

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“[Every circulating FRN (Federal Reserve Note)] represents a one dollar debt to the Federal Reserve system. The Federal Reserve banks create money out of thin air to buy government bonds from the U.S. Treasury…and has created out of nothing a…debt which the American people are obliged to pay with interest.”

- Wright Patman [John William Wright Patman] (1893-1976), Congressman (D-TX), 1964.

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“I have never seen more Senators express discontent with their jobs….I think the major cause is that, deep down in our hearts, we have been accomplices in doing something terrible and unforgivable to our wonderful country. Deep down in our heart, we know that we have given our children a legacy of bankruptcy. We have defrauded our country to get ourselves elected.”

- John Danforth, Senator (R-MO), Arizona Republic, April 22, 1992.

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“The Trilateral Commission is intended to be the vehicle for multinational consolidation of the commercial and banking interests by seizing control of the political government of the United States. The Trilateral Commission represents a skillful, coordinated effort to seize control and consolidate the four centers of power–Political, monetary, intellectual, and ecclesiastical.”

- Barry Goldwater (1909-1998), Senator (R-AZ), Republican Party’s nominee for President in the 1964 election, “Mr. Conservative”, No Apologies, 1964.

The Trilateral Commission was founded in July of 1973 at the initiative of David Rockefeller, who was Chairman of the Council on Foreign Relations (CFR) at that time. The Trilateral Commission is widely seen as an off-shoot of the CFR.

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“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. (1859-1924), Congressman (R-MN), father of famous aviator, Senate, Nov. 1912.

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“Government spending is always a “tax” burden on the American people and is never equally or fairly distributed. The poor and low-middle income workers always suffer the most from the deceitful tax of inflation and borrowing.”

- Rep. Ron Paul, MD (R-TX), “We’ve Been Neo-Conned

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“The financial system has been turned over to the Federal Reserve Board. That Board as ministers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money.”

- Charles A. Lindbergh, Sr. (1859-1924), Congressman (R-MN), father of famous aviator, Senate, 1923.

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“It is no coincidence that the century of total war coincided with the century of central banking.”

“The Federal Reserve System must be challenged. Ultimately, it needs to be eliminated. The government cannot and should not be trusted with a monopoly on money. No single institution in society should have power this immense. In fact, I believe that freedom itself is at stake in this struggle.”

- Rep. Ron Paul, MD (R-TX), End the Fed

“The obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people.”

- Rep. Ron Paul, MD (R-TX), Freedom Under Siege

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“The Federal Reserve bank buys government bonds without one penny…”

- Wright Patman, Congressman (D-TX), Congressional Record, Sept 30, 1941.

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“We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it.”

- Louis T. McFadden, Congressman (R-PA), Chairman of the Committee on Banking and Currency (12 years), 1932.

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“We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people.”

- Daniel Webster (1782-1852), Senator (MA) (NH), Secretary of State, a notable orator and leading constitutional lawyer, speech in the Senate, 1833.

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“The Federal Reserve banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the International bankers.”

- Louis T. McFadden (1876-1936), US Congressman (R-PA) (1915-1935), Chairman of House Banking and Currency Committee, Speech in Congress, June 10, 1932. Poisoned in 1936.

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“The consequences of a rapidly declining dollar are not yet obvious to the American public. A trip to Europe costs more than it did a few years ago, but most Americans still don’t sense they are becoming poorer as the dollar falls. The long-term significance has not yet begun to sink in. However, our relative wealth as a nation is measured in dollars, and the steady erosion of the value of those dollars means we will all be poorer in the future.”

- Rep. Ron Paul, MD (R-TX), “Gold Exposes the Dollar

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“Some people think the Federal Reserve Banks are the United States government’s institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers (Congressional Record 12595-12603).”

- Louis T. McFadden (1876-1936), US Congressman (R-PA) (1915-1935), Chairman of House Banking and Currency Committee, Speech in Congress, June 10, 1932. Poisoned in 1936.

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“The Federal Reserve Bank of New York is eager to enter into close relationship with the Bank for International Settlements….The conclusion is impossible to escape that the State and Treasury Departments are willing to pool the banking system of Europe and America, setting up a world financial power independent of and above the Government of the United States….The United States under present conditions will be transformed from the most active of manufacturing nations into a consuming and importing nation with a balance of trade against it.”

- Louis T. McFadden (1876-1936), US Congressman (R-PA) (1915-1935), Chairman of House Banking and Currency Committee, quoted in the New York Times (June 1930), June 10, 1932. Poisoned in 1936.

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“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 12 corporations [Federal Reserve] together cover the whole country and monopolize and use for private gain every dollar of the public currency, and all public revenues of the United States.”

- Alfred Crozier of Cincinnati (1863-1939), A prominent attorney in Grand Rapids, Cincinnati, and New York. Alfred Crozier wrote eight books on legal and monetary problems, focusing on his opposition to the supplanting of Constitutional money by the corporation currency printed by private firms for their profit. Stated before the Senate Banking and Currency Committee, 1913.

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“This Act establishes the most gigantic trust on earth. When the President signs this bill, the invisible government by the Monetary Power will be legalized. The people may not know it immediately, but the day of reckoning is only a few years removed. The trusts will soon realize that they have gone too far even for their own good. The people must make a declaration of independence to relieve themselves from the Monetary Power. This they will be able to do by taking control of Congress. Wall Streeters could not cheat us if you Senators and Representatives did not make a humbug of Congress… The greatest crime of Congress is its currency system. The worst legislative crime of the ages is perpetrated by this banking bill. The caucus and the party bosses have again operated and prevented the people from getting the benefit of their own government.”

- Charles A. Lindbergh, Sr. (1859-1924), Congressman (R-MN), father of famous aviator, the day before President Woodrow Wilson signed the Federal Reserve Act, in a speech before the House of Representatives, December 22, 1913.

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“The [Federal Reserve Act] as it stands seems to me to open the way to a vast inflation of the currency… I do not like to think that any law can be passed that will make it possible to submerge the gold standard in a flood of irredeemable paper currency.”

- Henry Cabot Lodge Sr., Congressman (R-MA), 1913.

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THE FEDERAL RESERVES OWN ADMISSIONS

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“When you or I write a check there must be sufficient funds in out account to cover the check, but when the Federal Reserve writes a check there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money.”

- Boston Federal Reserve Bank, Putting It Simply.

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“If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon.”

- Robert H. Hemphill, former Credit Manager of Federal Reserve Bank, Atlanta, Ga., foreword to 100% Money, 1935.

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“Without the confidence factor, many believe a paper money system is liable to collapse eventually.”

- Federal Reserve Bank of Philadelphia, Gold!, Published by The Federal Reserve Bank of Philadelphia, p. 10.

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“[The] abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit…. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holdings illegal, as was done in the case of gold…. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves…. [This] is the shabby secret of the welfare statist’s tirades against gold. Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.”

- Alan Greenspan, Chairman of the Federal Reserve (1987-2006), Gold and Economic Freedom, later published in a newsletter called The Objectivist, 1966.

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“The decrease in purchasing power incurred by holders of money due to inflation imparts gains to the issuers of money…”

- St. Louis Federal Reserve Bank, Review, Nov. 1975, p.22

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“Because of ‘fractional’ reserve system, banks, as a whole, can expand our money supply several times, by making loans and investments.”

- Federal Reserve Bank, New York, The Story of Banks, p.5.

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“Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower’s IOU.”

- Federal reserve Bank of New York, I Bet You Thought, p.19.

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“The actual process of money creation takes place in commercial banks. As noted earlier, demand liabilities of commercial banks are money.”

- Federal Reserve Bank of Chicago, Modern Money Mechanics, p.3.

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“As long as we issue fiat currency, I see no alternative to a legal tender law.”

- Alan Greenspan, Chairman of the Federal Reserve Board of Governors, 2003.
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“Congressman, I couldn’t agree with you more that inflation is a tax and that inflation is currently too high…”

- Ben Bernanke, Chairman of the Federal Reserve (2006-), admitting that inflation is a tax while being questioned by Dr. Ron Paul (R-TX), Monetary Policy and The State of the Economy hearing before the Committee on Financial Services, U.S. House of Representatives, July 16, 2008.

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“The Federal Reserve System pays the U.S. Treasury 020.60 per thousand notes –a little over 2 cents each– without regard to the face value of the note. Federal Reserve Notes, incidentally, are the only type of currency now produced for circulation. They are printed exclusively by the Treasury’s Bureau of Engraving and Printing, and the $20.60 per thousand price reflects the Bureau’s full cost of production. Federal Reserve Notes are printed in 01, 02, 05, 10, 20, 50, and 100 dollar denominations only; notes of 500, 1000, 5000, and 10,000 denominations were last printed in 1945.”

- Donald J. Winn (1937-2003), Assistant to the Board of Governors of the Federal Reserve System, an influential senior official of the Federal Reserve Board for two decades, had a role in shaping many banking laws, including the 1999 Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act of 1933, making it easier for commercial banks, investment firms and insurers to enter one another’s businesses.

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“Neither paper currency nor deposits have value as commodities, intrinsically; a ‘dollar’ bill is just a piece of paper. Deposits are merely book entries.”

- Federal Reserve Bank of Chicago, Modern Money Mechanics Workbook, 1975.

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“We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system…. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon.”

- Robert H. Hamphill, Credit Manager of Federal Reserve Bank, Atlanta, Ga., foreword to 100% Money, 1935.

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GENERAL LAW

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“The entire taxing and monetary systems are hereby placed under the U.C.C. (Uniform Commercial Code).”

- The Federal Tax Lien Act of 1966.

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“The Congress shall have the power…to coin money, regulate the value thereof.”

- The U.S. Constitution, Article 1 Section 8.

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“Emitting bills of credit, or the creation of money by private corporations, is what is expressly forbidden by Article 1, Section 10 of the U.S. Constitution.”

- U.S. Supreme Court, Craig v. Missouri, 4 Peters 410.

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“The legal tender quality [of money] is only valuable for the purposes of dishonesty.”

Chief Justice Salmon Chase, formerly Secretary of Treasury in President Lincoln’s administration, in dissent of Knox vs. Lee, The Legal Tender Cases, 1871.

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“There is a distinction between a ‘debt discharged’ and a debt ‘paid’. When discharged, the debt still exists though divested of it’s charter as a legal obligation during the operation of the discharge, something of the original vitality of the debt continues to exist, which may be transferred, even though the transferee takes it subject to it’s disability incident to the discharge.”

- Stanek vs. White, 172 Minn. 390, 215 N.W. 784.

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“The Federal Reserve Banks are not federal instrumentalities…”

- Lewis vs. United States 9th Circuit 1992.

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“The regional Federal Reserve banks are not government agencies….but are independent, privately owned and locally controlled corporations.”

- Lewis vs. United States, 680 F. 2d 1239 9th Circuit 1982.

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THE FOUNDERS ON BANKING

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“[the bank bill] condemned by the silence of the constitution.”

- James Madison (1751–1836), President.

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“…To take a single step beyond the boundaries thus specially drawn around the powers of Congress is to take possession of a boundless field of power, no longer susceptible of any definition. The incorporation of a bank, and the powers assumed by this bill [chartering the first Bank of the United States], have not, been delegated to the United States by the Constitution.”

- Thomas Jefferson (1743-1826), President, in opposition to the chartering of the first Bank of the United States, 1791.

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“But if in the pursuit of the means we should unfortunately stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them. Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”

- George Washington (1732-1799), President, in a letter to Jabez Bowen, Rhode Island, Jan. 9, 1787.
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“All the perplexities, confusion, and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation.” – In a letter to Thomas Jefferson in 1787.

“Banks have done more injury to the religion, morality, tranquility, prosperity, and even wealth of the nation than they can have done or ever will do good.”

“Let us disappoint the men who are raising themselves upon the ruin of this Country.”

- John Adams (1735-1826), President

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“The system of banking [is] a blot left in all our Constitutions, which, if not covered, will end in their destruction… I sincerely believe that banking institutions are more dangerous than standing armies; and that the principle of spending money to be paid by posterity… is but swindling futurity on a large scale.”

- Thomas Jefferson (1743-1826), President, stated when Jefferson refused to renew the charter for the First Bank of the United States (the 2nd central bank chartered by Congress in 1791), 1811.

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“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, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”

- Thomas Jefferson (1743-1826), President, within a letter to then Secretary of the Treasury, Albert Gallatin, 1802.

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“I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs.”

- Thomas Jefferson (1743-1826), President, within a letter to the Secretary of the Treasury Albert Gallatin, 1802.

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“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 it’s issuance.”

- James Madison (1751-1836), President.

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PAST UNITED STATES PRESIDENTS (EXCLUDING FOUNDERS)

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“I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands, and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war.”

- Abraham Lincoln (1809-1865), President, Questionable. Supposedly written in reference to the passage of the National Banking Act of 1863 less than five months before he was assassinated in a letter to one Col. William F. Elkins, referenced in Emanuel Hertz’s 1931 book: Abraham Lincoln: A New Portrait, found on page 40 of The Lincoln Encyclopedia, by Archer H. Shaw (Macmillan, 1950, NY), and Jack London’s, book Iron Heel ,1908.

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“The money powers prey upon the nation in times of peace and conspire against it in times of adversity. The banking powers are more despotic than a monarchy, more insolent than autocracy, more selfish than bureaucracy. They denounce as public enemies all who question their methods or throw light upon their crimes. I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at my rear is my greatest foe. Corporations have been enthroned, and an era of corruption in high places will follow. The money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in the hands of a few, and the Republic is destroyed.”

- Abraham Lincoln (1809-1865), President.

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“Whoever controls the volume of money in any country is absolute master of all industry and commerce.”

- James A. Garfield (1831-1881), President.

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“If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations.”

- Andrew Jackson (1767-1845), President.

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“The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson…The Federal Reserve Banks are one of the most corrupt institutions the world has ever seen.”

- Franklin D. Roosevelt (1882-1945), President, in a letter written Nov. 21, 1933 to Colonel E. Mandell House (an American diplomat, politician, and presidential adviser).

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“If Congress has the right [it doesn't] to issue paper money [currency], it was given to them to be used by…[the government] and not to be delegated to individuals or corporations.”

- Andrew Jackson (1767-1845), President. Jackson vetoed the bank bill of 1836.

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“The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity.”

- Abraham Lincoln (1809-1865), President.

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“Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves.”

- Andrew Jackson (1767-1845), President. Said in 1836 when he forced the closing of the Second Bank of the United States by revoking it’s charter.

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“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by it’s system of credit. Our system of credit is concentrated in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world–no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men.”

- Woodrow Wilson (1856-1924), President, Attributed. In reference to signing the Federal Reserve Act in 1913. Most likely a compilation of two quotes from his book The New Freedom, 1916. No source found for “I am a most unhappy man. I have unwittingly ruined my country.”

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“The bank, is trying to kill me, but I will kill it! You are a den of vipers and thieves. I intend to rout you out, and by the eternal God I will rout you out.”

- Andrew Jackson (1767-1845), President, After he dissolved the Second National Bank of America (banks were granted twenty year charters to print money) there was an attempt on his life. On May 6, 1883 while on a steamboat trip to Fredericksburg, Virginia a former navy officer attacked President Jackson. The would-be assassin pointed his pistol at President Jackson and pulled the trigger. The gun jammed. He took out another one, and it also misfired. Jackson then tackled the man to the ground.

________________________________________________________________________________________

“A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the Nation and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the world – no longer a Government of free opinion no longer a Government by conviction and vote of the majority, but a Government by the opinion and duress of small groups of dominant men….Since I entered politics, I have chiefly had men’s views confided to me privately. Some of the biggest men in the U.S., in the field of commerce and manufacturing, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it.”

- Woodrow Wilson (1856-1924), President, The New Freedom, 1913.

________________________________________________________________________________________

“Paper is poverty…it is only the ghost of money, and not money itself.”

- Thomas Jefferson (1743-1826), directed to Edward Carrington (1748-1810), Edward Carrington was an American soldier and statesman from Virginia. He was a Lieutenant Colonel in the Continental Army, serving as Quartermaster to General Nathanael Greene’s Southern campaign. 1788. ME 7:36.

________________________________________________________________________________________

“The bold effort the present bank had made to control the government…are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it.”

- Andrew Jackson (1767-1845), President, to Congress in 1836, Jackson closed America’s second national bank (Second Bank of the United States est. 1816) with these comments.

________________________________________________________________________________________

MISCELLANEOUS

________________________________________________________________________________________

“Banks lend by creating credit. They create the means of payment out of nothing.”

- Sir Ralph M. Hawtrey (1879-1975), former Secretary of the British Treasury, advocated a purely monetary theory of economic fluctuations.

________________________________________________________________________________________

“The invisible Money Power is working to control and enslave mankind. It financed Communism, Fascism, Marxism, Zionism, Socialism. All of these are directed to making the United States a member of a World Government.”

- American Mercury, December 1957, p. 92.

________________________________________________________________________________________

“To expose a 15 Trillion dollar rip-off of the American people by the stockholders of the 1000 largest corporations over the last 100 years will be a tall order of business.”

- Buckminster Fuller (1895-1983). Engineer, author, designer, inventor, and futurist. “Bucky”. One of the key innovators in the 20th century.

________________________________________________________________________________________

“Those who create and issue money and credit direct the policies of government and hold in the hollow of their hands the destiny of the people.”

- Reginald McKenna (1863-1943), former Chancellor of Exchequer, England.

________________________________________________________________________________________

“If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.”, The Quotable Mises, p. 66.

“Depression and mass unemployment are not caused by the free market, but by government interference in the economy.”

“Economic control is not merely control of a sector of human life that can be separated from the rest; it is the control of the means for all our ends.”

- Ludwig von Mises (1881-1973), Austrian economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School

________________________________________________________________________________________

“Every Congressman, every Senator knows precisely what causes inflation…but can’t, [won't] support the drastic reforms to stop it [repeal of the Federal Reserve Act] because it could cost him his job.”

- Robert A. Heinlein (1907-1988), Expanded Universe, p. 544.

________________________________________________________________________________________

“It is well enough 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 (1863-1947), Founder of Ford Motor Company.

________________________________________________________________________________________

“How pale is the art of sorcerers, witches, and conjurors when compared with that of the government’s Treasury Department!”

- Ludwig von Mises (1881-1973), Austrian economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School, The Theory of Money and Credit, p. 418.

________________________________________________________________________________________

“Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess.”

- Irving Fisher (1867-1947), Economist, 100% Money, 1935.

________________________________________________________________________________________

“…the increase in the assets of the Federal Reserve banks from 143 million dollars in 1913 to 45 billion dollars in 1949 went directly to the private stockholders of the [federal reserve] banks.”

- Eustace Mullins (1923-2010), American political writer, author, biographer, The Federal Reserve Conspiracy, 1954.

________________________________________________________________________________________

“As soon as Mr. Roosevelt took office, the Federal Reserve began to buy government securities at the rate of ten million dollars a week for 10 weeks, and created one hundred million dollars in new [checkbook] currency, which alleviated the critical famine of money and credit, and the factories started hiring people again.”

- Eustace Mullins (1923-2010), American political writer, author, biographer, The Federal Reserve Conspiracy, 1954.

________________________________________________________________________________________

“If, however, a government refrains from regulation and allows matters to take their course, essential commodities soon attain a level of price out of the reach of all but the rich, the worthlessness of the money becomes apparent, and the fraud upon the public can be concealed no longer.”

- John Maynard Keynes (1883-1946), The father of ‘Keynesian Economics’ which our nation now endures.The Economic Consequences of the Peace, 1920, p. 225.

________________________________________________________________________________________

“Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits.”

- Sir Josiah Stamp (1880-1941), President of the Bank of England in the 1920′s, the second richest man in Britain, speaking at the Commencement Address of the University of Texas in 1927.

________________________________________________________________________________________

“The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint, and un-mint the modern ledger-entry currency.”

- Major L. L. B. (Lawrence Lee Bazley) Angus, Billions for the Bankers, Debt for the People, 1937.

“The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in inequity and born in sin…Bankers own the earth. Take it away from them but leave them the power to create money, and, with a flick of a pen, they will create enough money to buy it back again…Take this great power away from them and all great fortunes like mine will disappear, for then this would be a better and happier world to live in…But, if you want to continue to be the slaves of bankers and pay the cost of your own slavery, then let bankers continue to create money and control credit.”

- Sir Josiah Stamp (1880-1941), President of the Bank of England in the 1920′s, the second richest man in Britain, speaking at the Commencement Address of the University of Texas in 1927

Note: The first two sentences of these quotes are attributed to both people. Please contact us if you have insightful information.

________________________________________________________________________________________

“The banks do create money. They have been doing it for a long time, but they didn’t quite realize it, and they did not admit it. Very few did. You will find it in all sorts of documents, financial textbooks, etc. But in the intervening years, and we must all be perfectly frank about these things, there has been a development of thought, until today I doubt very much whether you would get many prominent bankers to attempt to deny that banks create credit.”

- H. W. White, Chairman of the Associated Banks of New Zealand, stated to the New Zealand Monetary Commission, 1955.

________________________________________________________________________________________

“You have to choose [as a voter] between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the Government. And, with due respect for these gentlemen, I advise you, as long as the Capitalist system lasts, to vote for gold.”

- George Bernard Shaw (1856-1950), Irish comic dramatist and a co-founder of the London School of Economics.

________________________________________________________________________________________

“The history of government management of money has, except for a few short happy periods, been one of incessant fraud and deception.”

“I doubt whether it has ever done any good except to the rulers and their favorites.”

“To be controlled in our economic pursuits means to be controlled in everything.”

- F.A. Hayek (Friedrich August von Hayek) (1899-1992), an Austrian-born economist and philosopher best known for his defense of classical liberalism and free-market capitalism against socialist and collectivist thought.

He is considered to be one of the most important economists and political philosophers of the twentieth century, winning the Nobel Memorial Prize in Economic Sciences in 1974.

________________________________________________________________________________________

“The process by which banks create money is so simple that the mind is repelled.”

- John K. Galbraith (1908-2006), a Canadian-American economist, a Keynesian and Institutionalist, Money: Whence it Came, Where it Went, p. 29.

________________________________________________________________________________________

“While boasting of our noble deeds were careful to conceal the ugly fact that by an iniquitous money system we have nationalized a system of oppression which, though more refined, is not less cruel than the old system of chattel slavery.”

- Horace Greeley (1811-1872), Editor of the New York Tribune, ran against Ulysses Grant for presidency, in reference to the National Bank Act of 1863, 1872.

________________________________________________________________________________________

“People who will not turn a shovel full of dirt on the project (Muscle Shoals Dam) nor contribute a pound of material, will collect more money from the United States than will the People who supply all the material and do all the work. This is the terrible thing about [bank] interest…But here is the point: If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Constitution pays nobody but those who contribute in some useful way. It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People. If the currency issued by the People were no good, then the bonds would be no good, either. It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges at the hands of men who control the fictitious value of gold. Interest is the invention of Satan.”

- Thomas A. Edison (1847-1931), Inventor. Referring to the Muscle Shoals water power plant, built on the Tennessee River. New York Times, December 4 and 6, 1921.

________________________________________________________________________________________

“By this means government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.”

Note: We were unable to locate the above (popular) quote in the cited book. This is the authentic quote:

“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens…a manner which not one man in a million is able to diagnose.”

- John Maynard Keynes (1883-1946), The father of ‘Keynesian Economics’ which our nation now endures.The Economic Consequences of the Peace, 1920, p. 235-6.

Here is a larger portion (in context) of where the quote may have originated:

“Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The site of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth. Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become “profiteers,” who are the object of the hatred bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.

Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

- John Maynard Keynes (1883-1946), The father of ‘Keynesian Economics’ which our nation now endures.The Economic Consequences of the Peace, 1920, p. 235-6.

________________________________________________________________________________________

“The bank hath benefit of interest on all moneys which it creates out of nothing.”

- William Paterson (1658-1719), founder of the Bank of England in 1694: The privately owned central bank for the Kingdom of England.

________________________________________________________________________________________

“When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.”

- Napoleon Bonaparte (1769-1821), French Emperor.

________________________________________________________________________________________

“Capital must protect itself in every way…Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principal men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd.”

- Civil Servants’ Year Book: “The Organizer”, January 1934.

________________________________________________________________________________________

“The Federal Reserve banks, while not part of the government…”

- United States budget for 1991 and 1992, part 7, p. 10.

________________________________________________________________________________________

“The Money Power! It is the greatest power on earth; and it is arrayed against Labour. No other power that is or ever was can be named with it… it attacks us through the Press – a monster with a thousand lying tongues, a beast surpassing in foulness any conceived by the mythology that invented dragons, were wolves, harpies, ghouls and vampires. It thunders against us from innumerable platforms and ,Yes, so far as we are concerned, the headquarters of the Money Power is Britain. But the Money Power is not a British institution; it is cosmopolitan. It is of no nationality, but of all nationalities. It dominates the world. The Money Power has corrupted the faculties of the human soul, and tampered with the sanity of the human intellect…”

- Editorial from the 1907 edition of The Brisbane Worker (Australia).

________________________________________________________________________________________

“We have stricken the (slave) shackles from four million human beings and brought all laborers to a common level not so much by the elevation of former slaves as by practically reducing the whole working population, white and black, to a condition of serfdom. While boasting of our noble deeds, we are careful to conceal the ugly fact that by an iniquitous money system we have nationalized a system of oppression which, though more refined, is not less cruel than the old system of chattel slavery.”

- Horace Greeley (1811-1872), founder of the New York Tribune, ran against Ulysses Grant for presidency, 1872.

________________________________________________________________________________________

“Thus, if there exists a law which sanctions slavery or monopoly, oppression or robbery, in any form whatever, it must not even be mentioned. For how can it be mentioned without damaging the respect which it inspires? Still further, morality and political economy must be taught from the point of view of this law; from the supposition that it must be a just law merely because it is a law. Another effect of this tragic perversion of the law is that it gives an exaggerated importance to political passions and conflicts, and to politics in general.”

“When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time, a legal system that authorizes it and a moral code that glorifies it.”

- Frederic Bastiat (1801-1850), French economist, statesman, and author. Most writings occurred during the years just before and immediately after the French Revolution of February 1848. The Law, 1848.

________________________________________________________________________________________

“The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland; a private bank owned and controlled by the world’s central banks which were themselves private corporations. Each central bank…sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world.”

-Professor Carroll Quigley (1910-1977), Professor of History at Georgetown University, member of the Council on Foreign Relations (CFR), mentor to Bill Clinton, Tragedy and Hope, 1966, p. 324.

________________________________________________________________________________________

“In a small Swiss city sits an international organization so obscure and secretive….Control of the institution, the Bank for International Settlements, lies with some of the world’s most powerful and least visible men: the heads of 32 central banks, officials able to shift billions of dollars and alter the course of economies at the stroke of a pen.”

- Keith Bradsher, New York Times bureau chief in Detroit (1996-2001) and Hong Kong (2001- ),  New York Times, August 5, 1995.

________________________________________________________________________________________

“The real menace of our Republic is the invisible government which like a giant octopus sprawls its slimy legs over our cities, states and nation. At the head is a small group of banking houses… This little coterie…runs our government for their own selfish ends. It operates under cover of a self-created screen…seizes…our executive officers…legislative bodies…schools… courts…newspapers and every agency created for the public protection.”

- John F. Hylan (1868-1936), Mayor of New York City (D) (1918-1925), nicknamed “Red Mike”.

________________________________________________________________________________________

“The death of Lincoln was a disaster for Christendom. There was no man in the United States great enough to wear his boots and the bankers went anew to grab the riches. I fear that foreign bankers with their craftiness and tortuous tricks will entirely control the exuberant riches of America and use it to systematically corrupt modern civilization. They will not hesitate to plunge the whole of Christendom into wars and chaos in order that the earth should become their inheritance.”

- Otto von Bismarck (1815-1898), Founder of the German Empire, Prime minister of Prussia, Germany’s First Chancellor, after the Lincoln assassination.

________________________________________________________________________________________

“There cannot be stable money within an environment dominated by ideologies hostile to the preservation of economic freedom. Bent on disintegrating the market economy, the ruling parties will certainly not consent to reforms that would deprive them of their most formidable weapon, inflation.”

- Ludwig von Mises (1881-1973), Austrian economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School, The Theory of Money and Credit, p. 437-8.

________________________________________________________________________________________

“The Federal Reserve Bank is nothing but a banking fraud and an unlawful crime against civilization. Why? Because they “create” the money made out of nothing, and our Uncle Sap Government issues their “Federal Reserve Notes” and stamps our Government approval with NO obligation whatever from these Federal Reserve Banks, Individual Banks or National Banks, etc.”

- H. L. Birum, Sr., American Mercury, August 1957, p. 43.

________________________________________________________________________________________

“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 (1908-2006), Canadian-born economist, “America’s most famous economist”, Harvard professor, Money: Whence It Came, Where It Went, 1975.

________________________________________________________________________________________

“The governments alone are responsible for the spread of the superstitious awe with which the common man looks upon every bit of paper upon which the treasury or agencies which it controls have printed the magical words legal tender.”

- Ludwig von Mises (1881-1973),  Austrian economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School, Human Action: A Treatise on Economics, p. 444-5.

________________________________________________________________________________________

“Every circulating FRN (Federal Reserve Note) represents a one dollar debt to the Federal Reserve System.”

- House Banking and Currency Committee, Money Facts.

________________________________________________________________________________________

“Nothing did more to spur the boom in stocks than the decision made by the New York Federal Reserve bank, in the spring of 1927, to cut the rediscount rate. Benjamin Strong, Governor of the bank, was chief advocate of this unwise measure, which was taken largely at the behest of Montagu Norman of the Bank of England….At the time of the Banks action I warned of its consequences….I felt that sooner or later the market had to break.”

- Bernard Baruch (1870-1965), Money baron, financier, stock market speculator, and presidential adviser to Woodrow Wilson and FDR. Baruch: The Public Years, 1960.

________________________________________________________________________________________

“The Federal Reserve Bank is nothing but a banking fraud and an unlawful crime against civilization. Why? Because they “create” the money made out of nothing, and our Uncle Sap Government issues their “Federal Reserve Notes” and stamps our Government approval with NO obligation whatever from these Federal Reserve Banks, Individual Banks or National Banks, etc.”

- H.L. Birum, Sr., American Mercury, August 1957, p. 43.

________________________________________________________________________________________

“Why did we give a monopoly of creating money out of thin air to a private corporation? The result is exactly the same as if someone was picking your pocket every year, because that is exactly what they [the Federal Reserve Bank] are doing.”

- Franklin Sunders, Author, Tax Honesty.

________________________________________________________________________________________

“Capital must protect itself in every way…Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers.  People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd.”

-Civil Servants’ Year Book: “The Organizer”, January 1934.

________________________________________________________________________________________

“Paper money eventually returns to its intrinsic value…zero.”

- Voltaire (1694-1778), French Enlightenment writer, historian and philosopher famous for his wit and advocacy of civil liberties, including freedom of religion and free trade.

________________________________________________________________________________________

“The depression was the calculated ‘shearing’ of the public by the World Money powers, triggered by the planned sudden shortage of supply of call money in the New York money market…. The One World Government leaders and their ever close bankers have now acquired full control of the money and credit machinery of the U.S. via the creation of the privately owned Federal Reserve Bank.”

- Curtis Dall (1896-1991), FDR’s son-in-law as quoted in his book, My Exploited Father-in-Law, 1970.

________________________________________________________________________________________

“When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it.”

- Frederic Bastiat (1801-1850), French economist, statesman, and author, The Law, 1848.

________________________________________________________________________________________

“But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.”

- Frederic Bastiat (1801-1850), French economist, statesman, and author, The Law, 1848.

________________________________________________________________________________________

“…I am convinced that the agreement [Bretton Woods] will enthrone a world dictatorship of private finance more complete and terrible than and Hitlerite dream. It offers no solution of world problems, but quite blatantly sets up controls which will reduce the smaller nations to vassal states and make every government the mouthpiece and tool of International Finance. It will undermine and destroy the democratic institutions of this country – in fact as effectively as ever the Fascist forces could have done – pervert and paganise our Christian ideals; and will undoubtedly present a new menace, endangering world peace. World collaboration of private financial interests can only mean mass unemployment, slavery, misery, degradation and financial destruction. Therefore, as freedom loving Australians we should reject this infamous proposal.”

- Eddie Ward (1899-1963), Labor Minister of Australia during the inception of the World Bank and Bretton Woods.

________________________________________________________________________________________

Copyright 2010 – The Northwest Report. Permission to reprint in whole or in part is gladly granted, provided full credit is given.

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