History of Money Part IX

Despite the earlier failed attempts at controlling the American economy, the Rothschilds and their associates did not give up. After Jackson and Lincoln, the central bank idea had a bad reputation. So their next attempt at control would have to be more cleverly disguised. Under the cover of night, a group of seven individuals stole away aboard darkened rail cars to a secret meeting on Jekyll Island, Georgia. They conceived the largest act of treason in American history.

The purpose of this meeting on Jekyll Island was to come to an agreement on the structure and operation of an American banking cartel. The goal of the cartel, as is true with all of them, was to maximize profits by minimizing competition between members, to make it difficult for new competitors to enter the field, and to utilize the police power of government to enforce the cartel agreement. They also came up with a strategy of how to convince Congress and the public that this cartel was an agency of the United States government. In more specific terms, the purpose and, indeed, the actual outcome of this meeting was to create the blueprint for the Federal Reserve System.

These seven individuals represented the Rothschild organization. They were as follows:
1. Nelson W. Aldrich, Republican "whip" in the Senate, Chairman of the National Monetary Commission, business associate of J.P. Morgan, father-in-law to John D. Rockefeller, Jr.;

2. Abraham Piatt Andrew, Assistant Secretary of the United States Treasury;

3. Frank A. Vanderlip, president of the National City Bank of New York, the most powerful of the banks at that time, representing William Rockefeller and the international investment banking house of Kuhn, Loeb & Company;

4. Henry P. Davison, senior partner of the J.P Morgan Company;

5. Charles D. Norton, president of J.P. Morgan's First National Bank of New York;

6. Benjamin Strong, head of J.P. Morgan's Bankers Trust Company; and

7. Paul M. Warburg, a partner in Kuhn, Loeb & Company, a representative of the Rothschild banking dynasty in England and France, and brother to Max Warburg who was head of the Warburg banking consortium in Germany and the Netherlands.

Max Warburg, incidentally, was the financial adviser of the Kaiser of Germany and became Director of the Reichsbank. This was, of course, a central bank, and it was one of the cartel models used in the construction of the Federal Reserve System. The Reichsbank, a few years later, would create the massive hyperinflation that occurred in Germany, wiping out the middle class and the entire German economy in the process.

The name, Federal Reserve, is an open deception designed to give this private bank the appearance that it is operating in the public's interest; when in fact it is run solely to gain private profit for select stockholders. It was Aldrich's thought to outflank the competition by having not one central bank but many. It is not federal and it does not have reserves. It uses fractional reserve banking policies to lend money to the government at interest. This interest in turn is paid for by the sale of US government securities and bonds, offering proposed creditability. The government prints as much money as they need in any denomination for the same flat rate to cover the costs of paper, ink, and security measures.

Furthermore, all payments to the IRS in federal income tax goes to pay the interest on the debt. Not one penny of your income tax payments go for roads, schools, or any other citizen benefit. This was published in the Grace Commission report in 1982 sponsored by President Reagan. "With two-thirds of everyone's personal income taxes wasted or not collected, 100 percent of what is collected is absorbed solely by interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government."

On December 23, 1913, the House of Representatives had passed the Federal Reserve Act. It was still having difficulty getting it passed in the Senate. Most members of Congress had gone home for the holidays, but unfortunately the Senate had not adjourned sene die (without day) so they were technically still in session. There were only three members still present. On a unanimous consent voice vote, the 1913 Federal Reserve Act was passed. No objection was made, of course no one was there to object.

Charles Lindbergh and others would have objected if present. Lindbergh said, "The financial system has been turned over to... the federal reserve board. That board administers the finance system by authority of... a purely profiteering group. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other peoples money." Charles A. Lindbergh (R-MN)

"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 had done this through... the corrupt practice of the moneyed vultures who control it." Rep. Louis T. McFadden (R-PA)

"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." Sen. Barry Goldwater (R-AZ)

By the way, only Congress was authorized by the Constitution to have the power to print money backed by gold and silver. Article 1, Section 8-1,2,5, 10-1. "The Congress shall have power to lay and collect taxes, duties, imposts, and excises, to pay the debts... To borrow money on the credit of the United States; ... To coin money, regulate the value thereof, and of foreign coin, ... coin money; emit bills of credit; make any thing but gold and silver coin a tender in payment of debts".

If the Constitution is the supreme law of the land, why has our government permitted the misuse of power that the Federal Reserve has created? Here's one clue. Mayer Anselm Rothschild said, "Permit me to issue and control the money of a nation and I care not who makes its laws."

This is not the end of the deception. To be passed into law, the states must ratify any amendments to the Constitution by two-thirds majority. The 16th Amendment was sent out to the states with specific instructions not to alter or change anything. This amendment was necessary for the Federal Reserve to work and obtain its powers. 32 of the 36 states needed for passage did change the language, but that was immaterial. State records indicate that this amendment was never ratified. This was confirmed by research done by Bill Benson and others.

Now that the Federal Reserve was in place, and that war uses more materials and produces debt more quickly than anything else on earth, what would 1914 bring? The newly formed Federal Reserve was poised to produce any money the US Government might need from thin air with each dollar ready to make a healthy interest for private parties.

Tomorrow, the story continues with "the War to End All Wars".

Have nothing to do with the fruitless deeds of darkness, but rather expose them. For it is shameful even to mention what the disobedient do in secret. But everything exposed by the light becomes visible. Ephesians 5:11-13 (NIV)

If you have comments or questions, please feel free to contact me at the address below.
Email: DeltaInspire@panama-vo.com