The Truth About the Federal Reserve and Your Money

The video I have linked to is over three and a half hours long, so I will give you a shorter synopsis here from the video transcripts and I hope that you might comprehend at least as well as I have, which is to say, barely.

Basically, opponents of the Federal Reserve, a private bank, not a government institution, claim that the method of banking in use in the U.S. and most developed countries is simply a powerful arm of the global banking conspiracy to control the world. Well, I don't know if it's a conspiracy per se, but it certainly has all the makings.

Regardless of how you may feel about crazy conspiracies and crazy people (two of my favorite subjects), the facts of this case are astounding. Our banking system does indeed allow the banks to loan out ten times the amount of money that they actually possess, and then assign an interest rate on those same loans.

This is the exact same practice utilized by the goldsmiths of old, who would put citizens' gold in their vault for safekeeping, issuing a receipt for the gold as proof. At some point, the goldsmiths realized that they could issue 'receipts,' or, 'loans,' without actually possessing the gold to back it up. Basically, they were loaning money that they did not have. If you and I were to practice this type of business, we would be jailed for fraud and counterfeiting , but the money changers enjoy an exclusive privilege-The ability to loan money that doesn't exist.

I'm no economics expert, so I had to dig deep to understand what exactly all this means.The history of money changers is a tale in and of itself.

From the video transcript at http://reactor-core.org:

"Two early Roman emperors had tried to diminish the power of the Money Changers... Both were assassinated.

In 48 BC, Julius Caesar took back from the Money Changers the power to coin money and then minted coins for the benefit of all... But the Money Changers hated him. Some believe this was an important factor in Caesar's assassination.

One thing is for sure: with the death of Caesar came the demise of plentiful money in Rome. Taxes increased, as did corruption. Eventually the Roman money supply was reduced by 90 per cent. As a result, the common people lost their lands and homes - just as has happened and will happen again in America to the few who still own their own land and homes."The report goes into somewhat better detail than I am capable of really paraphrasing here:

"The central bank scam is really a hidden tax, but one that benefits private banks more than the government. The government sells bonds to pay for things for which the government does not have the political wisdom or will to rise tax to pay. But about 10 per cent of the bonds are purchased with money the central bank creates out of nothing. The government then spends this new money. Once deposited, private banks use these new deposits to create ten times as much in new fractional reserve loans. This provides the economy with the additional money needed to purchase the other 90 per cent of the new bonds without drying up capital markets and forcing up interest rates. By borrowing the money (Ie., selling new bonds), the government spreads out the inflationary effects over the term of the bonds. Thus, there is little or no immediate inflation. More money in circulation makes your money worth less. The politicians get as much money as they do want, and the people pay for it in inflation - which erodes the purchasing power of their savings, fixed income and wages."

Okay, I got some of that, I think. But if it's so awful, how was it ever allowed to come into existence?

"The Federal Reserve Act was railroaded through a carefully prepared Congressional Conference Committee meeting, scheduled during the unlikely hours of 1.30 am to 4.30 am (when most members were sleeping) on Monday 22 December 1913, at which 20 to 40 substantial differences in the House and Senate versions were supposedly described, deliberated upon, debated, reconciled and voted upon in a near-miraculous four-and-a-half to nine minutes per item, at that late hour.

At 4.30 am, a prepared report of this Committee was handed to the printers. Senator Bristow of Kansas, the Republican leader, stated on the Congressional Record that the Conference Committee had met without notifying them, and that Republicans were not present and were given no opportunity either to read or sign the Conference Committee report. The Conference report is normally read on the Senate floor. The Republicans did not even see the report. Some senators stated on the floor of the Senate that they had no knowledge of the contents of the Bill.

At 6.02 PM on 23 December, when many members had already left the Capital for the Christmas holiday, the very same day that the Bill was hurried through the House and Senate, President Woodrow Wilson signed the Federal Reserve Act of 1913 into law.

The Act transferred control of the money supply of the United States from Congress to a private banking elite. It is not surprising that a bill granting a few national bankers a private money monopoly was passed in such a corrupted manner."

Thanks a lot, Wilson.

"One of the most outspoken critics of the Fed in Congress w Louis T. Mcfadden (R-PA), the Chairman of the House Banking and Currency Committee during the Great Depression years. In 1932 he said:

"We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board... This evil institution has impoverished... the people of the United States... and has practically bankrupted our government. It has done this through... the corrupt practices of the moneyed vultures who control it."

Senator Barry Goldwater was a frequent critic of the Fed:

"Most Americans have no real understanding of the operation of the international money-lenders... The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States." "

Well, the long and the short of it is this; The Fed controls the interest rate. The Fed controls the printing of money. Most importantly, the Fed controls the gold that the actual currency represents. What this means is that the Fed, a privately owned bank, has complete control over the American economy, for better or worse. Apparently, world leaders throughout history have railed against the concept of privately owned central banks, such as the Bank of England, for centuries. The reason for this is that those leaders realized a painfully evident truth; Privately owned banks are beholden to the bottom line, first and foremost; Profits.

Historically, attempts to dismantle the banking system have been met with extreme opposition, including the heinous tactic of forcing the nation into recession to coerce political figures to capitulate to the banks. Among the worst of the offenses is financing war and facilitating the loss of millions of lives.

When Napoleon financed his army with money from the Louisiana Purchase, the Money Masters smelled opportunity:

"... They financed every nation in his path, reaping the enormous profits of war. Prussia, Austria and finally Russia all went heavily into debt in a futile attempt to stop Napoleon.

Four years later, with the main French Army in Russia, thirty year old Nathan Rothschild financed the attack from Spain by Britain's Duke of Wellington. Nathan later bragged at a dinner party in London that it was the best business he'd ever done... from about this point on, it was not unusual for privately controlled central banks to finance both sides in a war... war is the biggest debt-generator of them all. A nation will borrow any amount for victory. The ultimate loser is lent jut enough to hold out the vain hope of victory, and the ultimate winner is given enough to win. Besides, such loans are usually conditional upon the guarantee that the victor will honour the debts of the vanquished. Only the bankers cannot lose."

Besides fomenting war, manipulating the economy is the most devastating tactic applied by the Money Masters. Armed with advance notice of Napoleon's defeat by Wellington at Waterloo, the Money Masters destroyed the market:

"... Other nervous investors saw that Rothschild was selling. It could only mean one thing: Napoleon must have won; Wellington must have been defeated.

The market plummeted. Soon, everyone was selling their consols - their British government bonds and other stocks - and prices dropped. Then Rothschild and his financial allies started secretly buying through agents.

Myths, legends, you say? One hundred years later, the New York Times ran a story which said that Nathan Rothschild's grandson had attempted to secure a court order to suppress a book containing this stock market story. The Rothschild family claimed the story was untrue and libelous, but the court denied the Rothschilds' request and ordered the family to pay all court costs."

Although the different incarnations of private central banks have been brought down over the course of history, the latest version, the Federal Reserve, has been operating since 1913, largely in thanks to their willing accomplices, the media. The banks have control over most major news outlets in America, whether it be CNN, CBS, ABC, they are owned, in part or in full, by the Money Masters, as they have been for many years:

"Representative Callaway discussed some of this press control in the Congressional Record (vol. 54, 9 February 1917, p. 2947):

"In March I9I5, the J. P. Morgan interests, the steel, shipbuilding and powder interests and their subsidiary organizations, got together12 men high up in the newspaper world and employed them to select the most influential newspapers in the United States, and sufficient number of them to control generally the policy of the daily press..."

They found it was only necessary to purchase the control of 25 of the greatest papers... An agreement was reached; the policy of the papers was bought, to be paid for by the month; an editor was employed for each paper to properly supervise and edit information regarding the questions of preparedness, militarism, financial policies, and other things of national and international nature considered vital to the interests of the purchasers.

A few years ago, three-quarters of the majority stockholders of ABC, CBS, NBC and CNN were banks - such as Chase Manhattan Corp., Citibank, Morgan Guaranty Trust and Bank of America. Ten such corporations controlled 59 magazines (including Time and Newsweek), 58 newspapers (including the New York Times, the Washington Post and the Wall Street Journal, and various motion-picture companies, giving the major Wall Street banks virtually total ownership of the mass media with few exceptions (such as Disney's purchase of ABC).

Only 50 cities in America now have more than one daily paper, and the same group often owns them. Only about 25 percent of the nation's 1,500 daily papers are independently owned. This concentration has been rapidly accelerating in recent years and ownership is nearly monolithic now, reflecting the identical control described above. Of course, much care is taken to fool the public with the appearance of competition by maintaining different corporate logos, anchor persons and other trivia, projecting a sense of objectivity that belies the uniform underlying bank ownership and editorial control. This accounts for the total blackout on news coverage and investigative reporting on banker control of the country."

So, the Money Masters control the whole world? They manipulate governments, finance wars and control the economy?

It has occurred to me that the video that I have linked to above looks somewhat dated. I wonder what an updated video might have to say about more recent events, such as all the ruckus in the middle east. Are they financing that? Are we being directly influenced by the Money Masters right now?

Oh, is that a different conspiracy?