Title : Chapter One: THE BANKERS' BANK: The Federal Reserve Conspiracy by Antony C. Sutton from archive.org
link : Chapter One: THE BANKERS' BANK: The Federal Reserve Conspiracy by Antony C. Sutton from archive.org
Chapter One: THE BANKERS' BANK: The Federal Reserve Conspiracy by Antony C. Sutton from archive.org
Chapter One:
THE BANKERS' BANK
Since 1913 politicians and media have treated the Federal
Reserve Bank as a kind of untouchable off limits semi-God.. .no
one except certified crackpots and kooks criticizes the Fed.
Conventional wisdom dictates that anyone who attacks the
Federal Reserve System is doomed and Congressional
investigation of the Fed would result in economic chaos and a
disastrous plunge in the stock market.
Recently President Clinton got to appoint Alan Blinder to a
seat on the seven-member Board of Governors. Blinder launched
into criticism of Fed actions, i.e., interest rates are too high and
differed from the policy laid down by Chairman Alan Greenspan.
Poor Blinder was blindsided by the establishment press and
no doubt received advice to keep quiet because since this initial
speech, Blinder has repeatedly stated there are no differences
between himself and Chairman Greenspan and refuses to go
beyond this curious mea culpa.
There is a vast misconception about the Fed. The President
and the Congress have very little, if any, influence on policy. The
Congress handed over all monetary powers to the Fed in 1913.
The Fed is a private bank, owned by banks, and pays dividends
on its shares owned only by banks. The Fed is a private Bankers'
Bank.
The Federal Reserve Conspiracy
Yet Fed policy, not Government policy, is the dominant factor in
economic growth. The Fed can create jobs by loosening credit. The
Government talks a lot about creating jobs but in fact can only create
bureaucracies which restrict rather than promote enterprise. The private
sector creates productive jobs and the private sector is heavily
dependent on Fed policy to do this.
The Congress has never investigated the Fed and is highly
unlikely to do so. No one sees Fed accounts; they are not audited. No
balance sheets are issued. No one, but no one, ever criticizes the Fed
and survives.
Why all the secrecy and caution? Simply because the Fed has a
legal monopoly of money granted by Congress in 1913 proceedings that
were unconstitutional and fraudulent. Most of Congress had no idea of
the contents of the Federal Reserve Bill signed by President Woodrow
Wilson who was in debt to Wall Street.
The Federal Reserve has the power to create money. This money
is fiction, created out of nothing. This can be money in the form of
created credit through the discount window at which other banks
borrow at the discount rate of interest or it can be notes printed by the
Treasury and sold to the Fed and paid for by Fed-created funds
In brief, this private group of bankers has a money machine
monopoly. This monopoly is uncontrolled by anyone and is guaranteed
profit. Further, the monopoly doesn't have to answer questions or
produce books or file annual statements.
It is an unrestricted money monopoly.
This book explains how this money monopoly came about.
Obviously, Congress and the general public were misled and lied to
when the Federal Reserve Bank was in discussion. Why the monopoly
has continued is that the public is lazy, and so long as their individual
world is reasonably fulfilling, has no reason to question Fed actions.
The Bankers' Bank
Even if they do they will find few books that surface the real facts.
Academicians are too interested in protecting the Fed monopoly. An
academic book criticizing the Fed will never find a publisher and the
economist author would probably find tenure denied.
This is the first book that details hour by hour the events that led
up to passage of the Federal Reserve Act of 1913 - and the many
decades of work and secret planning that private bankers had invested
to obtain their money monopoly.
The Federal Reserve Conspiracy
Qwpmftwi*.
ED GAMBLE, Florida Times-Uni
Los Angeles Times Cartoon by Ed Gamble, 1994
Chapter Two
THOMAS JEFFERSON AND THE MONEY
POWER
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