‘Fed’ Up?

by Geoff Metcalf

"Banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.” – Thomas Jefferson

The Federal Reserve is not federal and it is not a reserve. It is a coalition of independent banks and is not subordinate to the U.S. Federal government. That is an annoying, axiomatic fact. ....

....I have interviewed Eustace Mullins a few times over the years and he notes, “The Federal Reserve System is not Federal; it has no reserves; and it is not a system at all, but rather, a criminal syndicate. From November, 1910, when the conspirators met on Jekyll Island, Georgia, to the present time, the machinations of the Federal Reserve bankers have been shrouded in secrecy. Today, that secrecy has cost the American people a three trillion dollar debt

(Note: currently over $11 trillion) , with annual interest payments to these bankers amounting to some three hundred billion dollars per year, sums which stagger the imagination, and which in themselves are ultimately unpayable.”

 

Rep. Ron Paul and others have periodically banged their heads against the wall. The soothing letter written by Donald J. Winn, Assistant to the Board of Governors in response to an inquiry by Congressman, Norman D. Shumway, on March 10, 1983. Mr. Winn states that "The Federal Reserve System was established by an act of Congress in 1913 and is not a ‘private corporation’." On the next page, Mr. Winn continues, "The stock of the Federal Reserve Banks is held entirely by commercial banks that are members of the Federal Reserve System." He offers no explanation as to why the government has never owned a single share of stock in any Federal Reserve Bank, or why the Federal Reserve System is not a "private corporation" when all of its stock is owned by "private corporations."

 

Congress called for a review/audit of the Fed, concerned Fed Chairman Ben S. Bernanke overstepped his authority as he bailed out creditors of Bear Stearns Cos. and American International Group Inc. while battling a crisis that resulted in $1.62 trillion in write downs and epic losses at financial firms. ....

.... Once upon a time, Baron Nathan Mayer Rothschild, "I care not what puppet is placed upon the throne of England to rule the Empire on which the sun never sets. The man that controls Britain's money supply controls the British Empire, and I control the British money supply." ....