"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
"The regional Federal Reserve banks are not government agencies. ...but are independent, privately owned and locally controlled corporations." -- Lewis vs.
Paulson Proposes Financial Overhaul; AP; By Martin Crutsinger; 31 March 2008.
From the AP:
“The Bush administration Monday proposed the most far-ranging overhaul of the financial regulatory system since the stock market crash of 1929 and the ensuing Great Depression.
“The plan would change how the government regulates thousands of businesses from the nation's biggest banks and investment houses down to the local insurance agent and mortgage broker.
“Treasury Secretary Henry Paulson unveiled the 218-page plan in a speech in Treasury's ornate Cash Room, declaring, ‘A strong financial system is vitally important — not for Wall Street, not for bankers, but for working Americans.’
“The administration's plan drew criticism, however, from Democrats who said it did not go far enough to deal with abuses in mortgage lending and securities trading that were exposed by the current credit crisis. Some state officials criticized what they saw as unwanted federal intrusion on their turf.
“It would give the Federal Reserve more power to protect the stability of the entire financial system while merging day-to-day bank supervision into one agency, down from five at present.
“Sen. Charles Schumer, D-N.Y., said he strongly disagreed with Paulson. ‘The unregulated corners of our economy did much to contribute to the meltdown in our housing market and the accompanying spillover to our financial markets,’ Schumer said in a statement. ‘The administration's 'deregulation-above-all-else' attitude helped cause the problems we now face.’”
Read the rest of the story here.
Comment: Folks it was the Federal Reserve that either propelled or brought this country into the stock market crash of 1929, and the ensuing depression. In either case it is the Federal Reserve and the avaricious bankers operating outside the bounds of our Constitution that are strangling this nation.
From two views from Wikipedia:
“Austrian theorists who wrote about the Depression include Hayek and Murray Rothbard, who wrote "America's Great Depression" in 1963. In their view, the key cause of the Depression was the expansion of the money supply in the 1920s that led to an unsustainable credit-driven boom. In their view, the Federal Reserve, which was created in 1913, shoulders much of the blame.”
“In their 1963 book "A Monetary History of the United States, 1867-1960", Milton Friedman and Anna Schwartz laid out their case for a different explanation of the Great Depression. After the Depression, the primary explanations of it tended to ignore the importance of money. However, in the monetarist view, the Depression was “in fact a tragic testimonial to the importance of monetary forces.”[7] In his view, the failure of the Federal Reserve to deal with the Depression was not a sign that monetary policy was impotent, but that the Federal Reserve exercised the wrong policies. They did not claim the Fed caused the depression, only that it failed to use policies that might have stopped a recession from turning into a depression.”
So, we are going to add more regulations and give more control over our money and banks to people that are not elected to office, and have no Constitutional authority for its existence?
Take look at some quotes from a few people that have opposed this:
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." --
"If Congress has the right [it doesn't] to issue paper money [currency], it was given to them to be used by...[the government] and not to be delegated to individuals or corporations." -- President Andrew Jackson, Vetoed Bank Bill of 1836
"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it's issuance." -- James Madison
"But if in the pursuit of the means we should unfortunately stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them. Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice." -- George Washington in a letter to
"Whoever controls the volume of money in any country is absolute master of all industry and commerce." -- James A. Garfield, President of the
"Every Congressman, every Senator knows precisely what causes inflation...but can't, [won't] support the drastic reforms to stop it [repeal of the Federal Reserve Act] because it could cost him his job." -- Robert A. Heinlein, Expanded Universe
"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
"The Federal Reserve banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the International bankers." -- Congressman Louis T. McFadden (
"Some [Most] people think the Federal Reserve Banks are the
You need to be worried; Bush is calling for more regulations, and Democrats in the Senate are calling for regulations above Bush! This is madding.
Centrally planned economies have always failed; they failed in
This country was built upon freedom and liberty, and quotes of the founders above demonstrate this. However, we through our ignorance are allowing these tyrannical bureaucrats to bind us. They are binding us through credit and debt, and are draining this country. Wake up folks.
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