US/Federal Reserve

US/Federal Reserve
Formation	December 23, 1913
Interest of	Charles August Lindbergh
Subpage	•US/Federal Reserve/Chair •US/Federal Reserve/New York •US/Federal Reserve/Vice Chair
The privately held cartel which profits of the US$ monopoly. It was set up by a group of large financiers on December 23, 1913 after the failure of earlier privatisations by stealth of the US money supply.

Official narrative

The public at large is encouraged to overlook the fact that this is a private business that was set up by Wall St. bankers, and much is made of the token (irrelevant) public elements.

Profits

Charging interest on all the United States dollars in existence is a pretty lucrative affair... not least because the petrodollar policy which made the US dollar the world's reserve currency.

 

Related Quotations

Page	Quote	Author	Date
Louis McFadden	“Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal reserve banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States; has bankrupted itself, and has practically bankrupted our Government. It has done this through defects of the law under which it operates, through the maladministration of that law by the Federal Reserve Board and through the corrupt practices of the moneyed vultures who control it. From the Atlantic to the Pacific our country has been ravaged and laid waste by the evil practices of the Federal Reserve Board and the Federal Reserve banks and the interests which control them … This is an era of economic misery, and for the conditions that caused that misery, the Federal Reserve Board and the Federal Reserve banks are fully liable. The imperial power of elasticity of the public currency is wielded exclusively by the central corporations owned by the banks. This is a life and death power over all local banks and all business. It can be used to create or destroy prosperity, to ward off or cause stringencies and panics. 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. The 12 Corporations together cover and monopolize and use for private gain every dollar of the public currency and all public revenue of the United States. Not a dollar can be put into circulation among the people by their Government, without the consent of and on terms fixed by these 12 private money trusts.'”	Louis McFadden	1934
Paul Volcker	“In 1952, straight from the London School of Economics, Volcker joined the Federal Reserve Bank of New York as an economist. He stayed for five years, until 1957, at which time Volcker moved from Liberty Street to become an economist for Chase Manhattan Bank, where he stayed for four years, until 1961. In 1961, Volcker went to the Treasury Department in Washington, thus completing the first round of his three stop "revolving door." Appointed as Deputy Undersecretary for Monetary Affairs, he held that job just long enough to learn the ropes in Washington, and returned to New York, to Chase Manhattan Bank, as Vice President in charge of Planning. After three years in that post, Volcker left in 1969 to become Undersecretary for Monetary Affairs at the U. S. Treasury Department. After five years, Volcker completed the second round of his "revolving door" with an appointment as President of the Federal Reserve Bank of New York. Volcker is also a member of the Council on Foreign Relations, the Rockefeller Foundation and the American Friends of the London School of Economics. If Paul Volcker was a solitary phenomenon, we could make no case for Trilateral control of the Federal Reserve System. In fact, the Volcker phenomenon is one of a dozen parallel situations.”	Paul Volcker Antony Sutton

 

Related Document

Title	Type	Publication date	Author(s)	Description
File:The Federal Reserve conspiracy by Antony C Sutton.pdf	book		Antony Sutton	Historical perspectives on the money trust including critique of Karl Marx

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