My Treatise on the Federal Reserve

In November 1910, seven wealthy men left the Northeastern US on trains to do some duck hunting on an island off Brunswick, Georgia. They carried all their duck hunting gear in plain sight, so that any snooping reporter could see that they were going duck hunting. And reporters really snooped in those days. The Reform Era muckrakers were still at their 1890s-1912 peak, producing exposés that still startled everybody.

On arrival, the duck hunters moved into a posh resort owned by JP Morgan -- on Jekyll Island.
In later years, at least one of the men admitted that he had never shot a duck, and never intended to. Another of the men later punned that the duck hunting was "a blind".

The seven wealthy men were surrogates of national government and powerful financiers. The financiers were seeming competitors, subordinate to and regulated by the government. However the surrogates were not at Jekyll Island to sharpen their apparent relationships. They were there to agree on unconstitutional collusions between private corporations and government, which would restrict their lesser competitors and allow them to create debt-based money secured by nothing but thin air, from which they and their cronies could get rich by endless multiplication of debt-created money in the financial treason called "fractional reserve banking". They were there to bring the deceits, corruptions, frauds, and murderous machinations of centuries-old European central banking to the US. They were there to keep the rabble down and to keep the right people up.

They were -- Nelson W. Aldrich (Republican whip in the Senate and father-in-law to John D. Rockefeller, Jr.) -- A. Piat Andrew (Asst Secretary of the Treasury) -- Henry P. Davison, Sr. (partner in JP Morgan Company) -- Charles D. Norton (President, 1st National Bank of New York) -- Benjamin Strong (head of JP Morgan's Bankers Trust, later chairman of the Federal Reserve) -- Frank A. Vanderlip (President, National City Bank of New York, representing William Rockefeller) -- Paul M. Warburg (partner in Kuhn, Loeb & Company, representing the Rothschilds and Warburgs in Europe).

The Jekyll Island Good Ole' Boys Club saw their labors writ in the stone of federal statute when a compliant and complicit Woodrow Wilson signed the Federal Reserve Act, 23 December 1913. Mental giant that Wilson was, we can hold him responsible for knowing that his signature was not creating law, but instead was creating an unconstitutional anti-law regime -- null and void from its first moment, enforced under color of law only in constantly repeating felony violations of a broad spectrum of valid federal statutes. Nearly a hundred years later, the felony violations stack beyond imagination, every second of every day.

Here's what Wilson and the powerful predators of Congress got away with:
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Constitution, Article 1, section 8 -- The Congress shall have power -- paragraph 5 -- To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures.

With the 1913 FRA, Congress and the President unconstitutionally delegated Congress' specifically assigned duty to coin debt-free money secured by its precious metals. They delegated that duty to a privately owned corporation whose expressed intent was to print debt-based, fiat money secured only by thin air, and whose many other expressed intents were the interests of private financial corporate ownership, not the interests of civil society or its Constitutional governance.

There is nothing in the Constitution that allows the give-away or delegation of any expressed duty/power to any other branch or institution. The Federal Reserve act was unconstitutional, felonious, and treasonous from its first moment of existence -- and remains exactly that today.

This debate was actually going on during our our founding, with discussions on whether or not there should be a formation of a national bank. The Constitution's authors had many good reasons for granting expressed duty/powers to specific branches and institutions.
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Coining and regulating the value of money, assigned only to Congress, has a history with the Constitution's authors that is stunningly large and stunningly unambiguous. Their main man of money-first-people-last, Alexander Hamilton, remarked -- "To emit an unfunded paper as the sign of value ought not to continue as a formal part of the Constitution, nor ever hereafter to be employed; being, in its nature, repugnant with abuses and liable to be made the engine of imposition and fraud."

Hamilton knew the Bank of England well. He knew that it had been the model for, and, often, the controller of, the other central banks of Europe. With a bad track record stretching back to 1694, he knew about its debt-based money created out of thin air. He knew about its "fractional reserve banking", which allowed it to create multiples of its thin-air, fiat money with every loan that it entered into its books -- straightforward usury in its most depraved and treasonous form. He knew about its monetary and political machinations in the creation of war, during which it funded both sides, maximizing its creation of debt. He knew that it worked only to benefit its private owners, never its civil society.

And yet, that "unfunded paper", fiat money secured by nothing more than thin air, is exactly what the 1913 Federal Reserve was commissioned to do -- by the same Congress whose members vow to uphold the Constitution.

Our $8.5 trillion national debt, a direct result of debt-based money creation, held by nations and foreign central banks who, history shows, will destroy our nation without a second thought when their profits picture is good enough, is just one measure of the Federal Reserve's success.
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The Federal Reserve's only concerns are the profits and power of its private owners. In a conflict between the interests of their private owners and the US citizenry, they have no concerns for the US citizenry.

Two presidents tried to stop this outrage, and they were both assassinated. Lincoln was set to bypass the central banks in order to finance the Civil War. The banks were going to charge him 24-36% interest on the loans. So Lincoln had Congress pass a law authorizing the printing of full legal tender. These treasury notes would be used to finance the war. Lincoln wrote: "We gave the people of this Republic the greatest blessing they have ever had - their own paper money to pay their own debts..." Now go and research the person who supposedly killed Lincoln and how he relates to bankers.

After Lincoln was assassinated Congress revoked the Greenback Law and enacted the National Banking Act. The national banks were to be privately owned and the national bank notes they issued were to be interest-bearing. The Act also provided that the Greenbacks should be retired from circulation as soon as they came back to the Treasury in payment of taxes.

John F. Kennedy was the next brave man to take on the Federal Reserve. On June 4, 1963, President Kennedy signed a Presidential Executive Order 11110. This order virtually stripped the Federal Reserve Bank of its power to loan money to the United States Government at interest. Kennedy declared the privately owned Federal Reserve Bank would soon be out of business. This order gave the Treasury Department the authority to issue silver certificates against any silver in the treasury. This executive order still stands today. No president since has had the courage to invoke it for it would mean their demise. The US government is a front for the real controllers; the central bankers.

Look at your money; it say "Federal Reserve Note!" It is not an American government currency backed by an asset. It is fiat currency backed by nothing. The Federal Reserve lends these notes to the government, with interest! What a scam! How do we permit this? Oh, I know, we permit this because most people don't know about it...thanks to the criminals in the media. For if the people knew, perhaps Henry Ford's words would ring true and we would indeed take to the streets to stop this crime!

The Federal Reserve is a private bank that owns the sole right to dictate monetary policy for our nation. As a matter of fact shortly after George W. Bush was placed in office by very powerful people, not by the electorate, the Federal Reserve announced that they would no longer report how much money was being printed. Imagine that! Well you don't have to imagine that because it happened, and your media did not tell you about it, and your Congress sat quiet. Americans let this happen because Americans are pretty much stupid people. They laugh at intelligent people as they dedicate themselves to being suckers who worship a little flag as opposed to a legitimate government.

I've said from the beginning that Ron Paul has it right. Ron Paul is what is best for the nation. Unfortunately, when you see and hear Ron Paul you can't help but picture him in a tin-foil hat. I think his huge intellect has brought at a little crazy, as is sometimes the case with massive cognitive capability - the personality and charisma can't keep up with the IQ. Nonetheless, Ron Paul is the only presidential candidate I've seen in my life-time (at least that I recall) and will probably be the last that actually cares about the long-forgotten document called the "Constitution." Maybe you've heard of that little piece of work. I think they have it stashed in a cob-webbed dark corner in the attic of the Supreme Court Building or Library of Congress.

Ron Paul gave the following speech to the House of Representatives in 2002.

"Mr. Speaker, I rise to introduce legislation to restore financial stability to America's economy by abolishing the Federal Reserve. I also ask unanimous consent to insert the attached article by Lew Rockwell, president of the Ludwig Von Mises Institute, which explains the benefits of abolishing the Fed and restoring the gold standard, into the record.

Since the creation of the Federal Reserve, middle and working-class Americans have been victimized by a boom-and-bust monetary policy. In addition, most Americans have suffered a steadily eroding purchasing power because of the Federal Reserves inflationary policies. This represents a real, if hidden, tax imposed on the American people.

From the Great Depression, to the stagflation of the seventies, to the burst of the dotcom bubble last year, every economic downturn suffered by the country over the last 80 years can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial "boom" followed by a recession or depression when the Fed-created bubble bursts.With a stable currency, American exporters will no longer be held hostage to an erratic monetary policy. Stabilizing the currency will also give Americans new incentives to save as they will no longer have to fear inflation eroding their savings. Those members concerned about increasing America's exports or the low rate of savings should be enthusiastic supporters of this legislation.

Though the Federal Reserve policy harms the average American, it benefits those in a position to take advantage of the cycles in monetary policy. The main beneficiaries are those who receive access to artificially inflated money and/or credit before the inflationary effects of the policy impact the entire economy. Federal Reserve policies also benefit big spending politicians who use the inflated currency created by the Fed to hide the true costs of the welfare-warfare state. It is time for Congress to put the interests of the American people ahead of the special interests and their own appetite for big government.Abolishing the Federal Reserve will allow Congress to reassert its constitutional authority over monetary policy.

The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy.In fact, Congress' constitutional mandate regarding monetary policy should only permit currency backed by stable commodities such as silver and gold to be used as legal tender. Therefore, abolishing the Federal Reserve and returning to a constitutional system will enable America to return to the type of monetary system envisioned by our nation's founders: one where the value of money is consistent because it is tied to a commodity such as gold.

Such a monetary system is the basis of a true free-market economy. In conclusion, Mr. Speaker, I urge my colleagues to stand up for working Americans by putting an end to the manipulation of the money supply which erodes Americans' standard of living, enlarges big government, and enriches well-connected elites, by cosponsoring my legislation to abolish the Federal Reserve."

Is Ron Paul a prophet, or could it possibly be true that even in the year 2008 our founding fathers were smarter than we currently are? Maybe he's not that crazy after all.