By Dan Schneider
In December of 1913 a group of bankers and businessmen gathered at a resort on Jekyll Island, Georgia. No one knows exactly how many or even who they were. These men were given strict instructions that once they got there, first names only were to be used so the hotel staff wouldn’t know who they were.
You might think that it would have been a bit irregular for a group of big shots to meet somewhere and there is no record of who they were – not even the hotel registry. Well, when you pay triple the going rate for a dozen guests – including meals in dining rooms and service to conference rooms – and in gold, you get to be a little irregular.
These men had come to draft a piece of legislation. Not one of them was a congressman or senator. They hammered out this unique bill in just one week. Well, probably less than a week. But since the resort was reserved for a week, most of them probably stayed to enjoy its amenities while they could.
The bill was presented to congress two days before Christmas. Keeping in mind it’s 1913 and there are no such things as commercial airlines, the fastest way to travel long distances was by train, so legislators who lived more than a day’s travel from home had already left for the holidays. A few days earlier, the speaker assured the congress that no major pieces of legislation were scheduled for a vote until after New Year. That was a lie.
On December 23, 1913, the House opened it’s session with the speaker and two congressmen. The bill passed unanimously. It was basically the same story for the senate.
The bill then went to the desk of President Woodrow Wilson – Democrat – who signed it into law on December 24, 1913. It went into effect on January 1, 1914. It was called The Federal Reserve Act.
The Federal Reserve Act authorized the creation of a central bank that would supposedly stabilize the nation’s economy. It’s been doing a terrific job, hasn’t it? Many people believe the Fed is part of the United States Government. Indeed, that’s why the name was chosen, to mislead the people. In fact the Fed is a privately owned, for profit bank that now does most of the duties once performed by the United States Treasury. In fact, to this day, no one, not even the federal government itself knows who owns the Fed. You see its stock is not publicly traded on the market. It’s private stock and can only be bought by invitation of the other stockholders. Being a private corporation, and not a public one like Microsoft or Amazon, the names of it’s stockholders are strictly confidential. It’s quite possible – and even probable that the bank that controls our economy is owned by foreigners.
President Wilson firmly believed in the need for a central bank and believed in the honesty and sincerity of those running the Fed. It didn’t take him longer than a year or two before he realize just what it was that he had done to the American people. He was later quoted as having said, “I have led my country to financial ruin!” By the time he realized this it was simply too late. The Fed was here to stay – for the time being.
Since the formation of he Fed – the institution that was supposed to stabilize our economy, we have been on a roller coaster ride of ups and downs. From depressions, to recessions, to inflations. Stabilization my eye.
The big question is, how do we rid ourselves of this monster that is now well over 100 years old? That is easier than you think.
During the Civil War, President Lincoln found himself running short of funds. He had two choices. One, he could borrow money from private banks to fund the war, or he could print his own money. Is this legal? Absolutely. Even though the Fed now prints our money and decides just how much, in giving them that power, the United States government in no way relinquished its constitutional right to print its own currency.
Back in the day, the money Lincoln had the treasury print up looked like your typical bank notes, except the backs were green to distinguish them from the other. People started calling them Greenbacks. They were so successful that although the printing of them stopped after Lincoln’s assassination, they were still in circulation until 1915 when the Fed ordered them recalled. The Fed wanted their money to the the only form of currency in circulation.
The federal government still has the authority to print its own currency. Technically it would require an act of congress. If the congress would authorize it, and the president doesn’t veto it, the treasury could start printing its own currency outside of the control of the federal reserve. If you look at any denomination of bill, it reads “Federal Reserve Note”. If the government printed its own currency again it would read “Treasury Note”. As long as it also read “This note is legal tender for all debts public and private” then no one in this country can legally refuse to accept them as payment.
The government also retains the right to recall any currency from circulation. As more and more treasury notes are circulated, the government can recall federal reserve notes from circulation. If it does this slowly and carefully, all federal reserve notes can be recalled and replaced with treasury notes in less than three years. The Fed would still exist, but it would have been rendered obsolete when it comes to issuing currency. It’s other functions to coordinating all banking transactions within the United States would remain unaffected, but it’s real power comes from issuing currency and that power would have been taken from them without even repealing the Federal Reserve Act.
This country is large and our economy is complex. A central bank is necessary. However that bank should be owned by the government and not by private investors out to line their pockets. Julius Caesar once said, “The purpose of money is to serve all the people.” When he was in power he took control of the empire’s currency from the moneylenders. The people prospered. After his assassination, his nephew and successor, Augustus Caesar gave it back to the moneylenders and the people grew poor and the rich got richer.
If we return the control of our money to The People, then we’ll all prosper. This is something the Money Masters will do anything to prevent. Adolf Hitler set up a government-owned and controlled central bank, the Reichsbank. He took control of their currency from the Jewish money masters and the German people prospered. The Money Masters would do anything to get that power back – even to starting a World War.
Unfortunately, their plan is working. It is believed that the world’s finances are controlled by approximately 150 bankers. A totalitarian dictatorship is ruled by one person. An oligarchical dictatorship is ruled by a small group of elites. This world is financially controlled by a small group of elites.
Permit me to issue and control the money of a nation, and I care not who makes its laws. – Mayer Anselm Rothschild, 1790.
Next time I’ll tell you about Mayer’s son, Nathan. You won’t believe how that dirt bag gained control of the Bank of England.
Permit me to issue and control the money of a nation, and I care not who makes its laws
Mayer Amschel Rothschild, 1790.
Next time I’ll tell you about Mayer’s son, Nathan. You won’t believe how that dirt bag gained control of the Bank of England.
