Federal Reserve System

"The Consumer Price Index is 15 times higher than it was when the Federal Reserve was founded in 1913. In the hundred years prior to the advent of the Federal Reserve, prices in America fell by one third."

"...Pam Martens is very clear... She points out the reason that the regular newspapers dont report it is the loans violated every element of the Dodd-Frank laws that were supposed to prevent the Fed from making loans to particular banks that were not part of a liquidity crisis. In her article, she makes very clear by pointing out these three banks, Chase Manhattan, Goldman Sachs – which used to be a brokerage firm – and Citibank, that the Federal Reserve laws and the Dodd-Frank Act explicitly prevent the Fed from making loans to particular banks. It can only make loans if theres a general liquidity crisis. And we know that there wasnt at that time, because she lists the banks that borrowed money, and there were very few of them."

"The Federal Reserve, as one writer put it, after the recent increase in the discount rate, is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up."

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and the corporations which grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."

"The Fed is a disaster. We should have a discussion in this country about whether we need a Fed."

"I cannot say with what deep emotions of gratitude I feel that I have had a part in completing a work which I believe will be of lasting benefit to the business of the country."

"The Federal Reserve and this administration failed the American people by not heeding these warnings a year ago, and not acting sooner to address it"

"So I think the reason that the newspapers are going quiet on this is the Fed broke the law. And it wants to continue breaking the law. And thats why these Wall Street banks fought so hard to get the current head of the Fed reappointed, [[Jerome Powell|[Jerome] Powell]], because they know that hes going to do what [[Timothy Geithner|[Timothy] Geithner]] did under the Obama administration. Hes loyal to the New York City banks, and hes willing to sacrifice the economy to help the banks. Because those are the clients of the New York Fed, the big New York banks. And thats been the case ever since I was on Wall Street half a [century] ago. And Pam [Martens] is trying to expose how these banks are crooked, and really what the whole problem was. She points out that the Fed is supposed to make short-term loans, but these are long-term loans."

"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."

"The lifeblood of our economy, indeed the whole worlds economy, is based on money. Without a currency that can be trusted, the entire structure of economics, the division of labor itself, falls apart. Our wealth, our well being and our very lives are dependent on the continuation of this highly complex structure called the economy and it in turn is dependent on sound money. We have placed our trust for the management of this money on a gang of thieves called the Federal Reserve. They have now clearly demonstrated their inability to restrain themselves from the excesses that can be perpetrated within a paper money system. If we want to survive as a nation, we need to eliminate both the Federal Reserve and paper money."

"Our power has been created through the manipulation of the national monetary system. We authored the quotation, Money is power. As revealed in our master plan, it was essential for us to establish a private national bank. The Federal Reserve system fitted our plan nicely since it is owned by us, but the name implies that it is a government institution. From the very outset, our purpose was to confiscate all the gold and silver, replacing them with worthless non-redeemable paper notes. This we have done! ... The examples are numerous, but a few readily apparent are the stocks and bonds market, all forms of insurance, and the fractional reserve system practiced by the Federal Reserve corporation, not to mention the billions in gold and silver that we have gained in exchange for paper notes, stupidly called money. Money power was essential in carrying out our master plan of international conquest through propaganda."