Sunday, November 07, 2010

Happy Birthday

BRT has written often about the Fed being a cartel protected by government, a fact most Americans are totally unaware of as yours truly was until 2008, the year I became fascinated with how finance functioned as a system in the US. Previously, I thought finance a dry and musty enterprise governed by "safe" banks and administered by the Fed, a government agency dedicated to maintaining the health of the dollar, a notion proven to be wrong based on research done on the net driven by one's innate curiosity to learn about something that, prior to '08, was totally uncharted territory.

Picture a party of the nation's greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily riding hundred of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned, lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance. I am not romancing; I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written... The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done. Senator Aldrich notified each one to go quietly into a private car of which the railroad had received orders to draw up on an unfrequented platform. Off the party set. New York's ubiquitous reporters had been foiled... Nelson (Aldrich) had confided to Henry, Frank, Paul and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank and Henry... Warburg is the link that binds the Aldrich system and the present system together. He more than any one man has made the system possible as a working reality. - Bertie Charles Forbes

Fittingly, current money players celebrated the creation of the Fed on Nov 5, 2010, 100 years to the day the plan to institute the Reserve through legislation was initiated in order to wrest control of the country's finances from the Constitution to a private entity, something that became a fate accompli when Woodrow Wilson signed into law, with great reluctance, the creation of the US Federal Reserve in 1913.  See the conference agenda here.

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence.

Other presidents had reservations about central banks as well.

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

Thomas Jefferson, (Attributed)
3rd president of US (1743 - 1826)


"When asked what his greatest accomplishment had been during his two terms as President, Andrew Jackson replied "I killed the Bank."   He was talking about the "Second Bank of the United States", which was our country's second central bank."

Makes one think doesn't it?

Addendum: Click here to get a concise history of the Fed and Government. For starters, The Fed, along with the CIA and significant others, is a private corporation (non profit) registered in Delaware.
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