Left Hook - October Issue

Left Hook
By Walter Davis

The Federal Reserve: Victimizing America and the World

After pushing through the Federal Reserve Act and signing it during holiday recess in 1913, even President Woodrow Wilson realized the Federal Reserve was not good for this country. "I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, 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 civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence (1). Today after the markets of 1929 and 2008, we can see that President Wilson was right. We will never be out of debt as long as the Federal Reserve exists.

The Federal Reserve Act was authored by elite international bankers in November 1910 then pushed through the law making process by front men in the United States congress. The act was produced during a secret meeting on Jekyll Island in Georgia and included 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) (2).

The Federal Reserve is incapable of accomplishing its objective of providing market stability; it is a cartel operating against the public interest. It is the supreme instrument of usury [with its treason of "fractional reserve banking", endlessly multiplying the money supply, endlessly multiplying debt, endlessly multiplying inflation] writes Edward G. Griffin in his book “The Creature from Jekyll Island” (2). A hidden tax results from inflation due to money being made out of thin air and its value dependent on how much of it is in circulation. The economy is destabilized as a result and totalitarian wars are encouraged.

The Federal Reserve is responsible for poverty, inflation, deficits and financial failure of the American people. The pressure to create weapons of mass destruction for profit as opposed to instruments of mass creation has resulted in this country failing to live up to its potential. Religion, partisan bickering, and a monopolized mass media monster seek to separate us and keep our eyes off of the real culprit in our plight. The future of our nation and indeed, the world depends on our ability to unite and abolish the Federal Reserve. It will not be easy. Republican congressman Louis Thomas McFadden was poisoned in 1936 following two previous assassination attempts after presenting articles of impeachment against the Feds and its cronies. Woodrow Wilson and Ron Paul have words that we need to heed to save our families and communities.

1 Talk Wilson http://en.wikiquote.org/wiki/Talk:Woodrow_Wilson (21 September 2009).
2 Neitzke, Stephen, The Federal Reserve: Jekyll Island Monster.1 March 2007. (22 September 2009) http://www.populistamerica.com/the_federal_reserve_jekyll_island_monster