"The Federal Reserve Bank is nothing but a banking fraud and an unlawful crime against civilization. Why? Because they "create" the money made out of nothing, and our Uncle Sap Government issues their "Federal Reserve Notes" and stamps our Government approval with NO obligation whatever from these Federal Reserve Banks, Individual Banks or National Banks, etc."
American Mercury magazine, August 1957, p. 43
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Reader comments about this quote:
 -- Bill, pensacola      
so what... I too "create out of nothing" in my business, and yet the software I create works just fine (and others pay good money to buy it too ;-)... this is not a measure of fraud or crime.
 -- Anonymous, Reston, VA US     
    Reston: it would be similar if you took your software from another producer and than "sold" it back to him at interest... he than resales the software and you continue to charge the interst from everyone who uses it
     -- al, washington dc     
     -- David L. Rosenthal, Hollywood      
    The Fed 'buys' interest-bearing US Treasury Bonds with Federal Reserve Notes that they simply print up. The US government gets the 'money' (Federal Reserve Notes) and the Fed gets to collect interest on the Treasury Bonds even though they have invested nothing -- those massive profits go to the private bankers that own the Fed. The interest now due to the Fed each year is so huge that all of our income taxes are used to pay it. This is a crime against the American people and must be stopped. Jefferson and Jackson both stopped the 'Fed' of their day -- Lincoln and Kennedy tried. America will one day have to do it again -- sooner or later. History tells us that the bankers will never stop trying to foist this unnecessary system of usury upon the People -- we must be ever vigilant to prevent this from ever happening again.
     -- E Archer, NYC     
    Equating the nature of software with the nature of today's currency is akin to equating a C++ manual with a handshake-promise to provide such a book - one has utility, the other is a promise to provide such utility at some future date without a contract to enforce the promise. The handshake-promise is good if the promisor lives up to the promise by their own volition. The promisee has no way of enforcing the promise. The manual is real. The promise is transient. Our 'currency' is as good as our belief that it is. If this 'airline of currency' ever goes bankrupt or looses the faith/belief of the people using it, there'll be no 'refund'; there's no 'real estate' to back it up. Comparing the 'promise' of software to our currency would be more apropos.
     -- Terry Berg, Occidental, CA     
    Hey, Reston -- my bet is that the 'good money' paid for the software you create is coming from government contracts (directly or indirectly).

    "The few who understand the system, will either be so interested in its profits, or so dependent on its favours that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests." -- John Sherman, protege of the Rothschild banking family
     -- E Archer, NYC     

    Wow, that first guy is really lost. Look, if the Fed can create money out of nothing, then they can regulate what each dollar is worth ... simply by putting more dollars in circulation. Since the Fed Note (dollar) isn't backed by gold nor silver, they can print as much as they want. (originally, each note in circulation represented one dollars worth of gold or silver "on reserve" or rather in storage.) With out that, they can print any number of notes they want. Now, looking at the software you "create". The more copies of your programs that are out in the public, the less each copy is worth. "That is why it is illegal to copy your software, because it devalues your original. With the ability to copy, I could fraudulently run you out of business! THAT is why Birum and many, many others call the Fed "fraudulent". The value of a "dollar" is controlled by regulating the amount of "dollars" that are in circulation. Why do you think the US is over 6 trillion dollars in debt? Who do you think the debt is owed to? Does the "German Mark" during WWII mean anything to you? Dude, you really should know what your talking about before your put comments out there for people like me to read and then shake my head. www.heritageofliberty.com Peace-
     -- Khalil, Atlanta     
  • 1
     -- Tharos, Richmond KY      
    It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford ~ Reston I suppose if people were forced to use your software and no other, and you had the ability to flood the market with your software and devalue what everyone else already has...then you might have a point. Otherwise you've shown how very simplistic the nations's children have become. Public education is winning the battle against critical thinking.
     -- J Carlton, Calgary     
    Mr. Birum is not in any biography that I can find. His name might as well be Joe Smerdly or better yet Mike of Norwalk. As far as I am concerned he has no standing to be quoted here. On the other hand he might have the understanding of these things that any no nothing or red neck might have. That being said cental banking is practiced all over the world, from the Bundesbank in Germany, to the Bank of England etcetera. Central Banks all operate on basically the same prinicples. Get over with it people and let us move on. You can tell the time of the year or season when liberty.quotes repeat these inocuous and idiotic quotes. Editor can't we do better than this and can you tell us who H.L. Birum, Sr. is or was. I could not find him by googling. This guy is in the same class as Dick Cheney who gave us, "Defictis don't matter" now every one is worried about deficits.
     -- Waffler, Smith     
  • 1
    This type of idiocy is the same thing former Senator Domenici was talking about last night on the tube. He and others have formed a "non-partisan" group to handle the deficit. He said, "Our leaders have misled the America people." He is so right and when men get elected by saying "No Taxes" and then go borrow from China they should be arrested.
     -- Waffler, Smith     
    Spoken like the communist sheep you truly are Waffler. That it's being practiced all over the world is merely an indication of how great this cancer has become. And rather than rationalize that it's being done "all over the world", why don't we concentrate on our own back yard? BTW...it's the same group of elitists that own these banks "all over the world". Do your homework.
     -- J Carlton, Calgary     
    As usual,Waff and Reston just don't get it.
     -- jim k, Austin     
    Congressman Ron Paul has a bill up to "audit" the Federal Reserve and the Federal Reserve is fighting it.
     -- cal, lewisville, tx     
    If there were 10 stars, I would have rated it that. Amen!!!
     -- Howard, Bangkok     
    It is clearly spelled out in the Creature from Jekyll Island, which is available on you tube in its entirety for those willing to seek it our. Lincoln and Kennedy were murdered having the opinion that the Federal Reserve eliminated. We need no central bank. We are playing craps here and the winner is...always, the bank. Abigail Adams
     -- A Adams, hun bch     
     -- Mike, Norwalk      
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