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2008 October 24
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"In a small Swiss city sits an international organization so obscure and secretive....Control of the institution, the Bank for International Settlements, lies with some of the world's most powerful and least visible men: the heads of 32 central banks, officials able to shift billions of dollars and alter the course of economies at the stroke of a pen." |
"A banker is a fellow who lends you his umbrella
when the sun is shining
and wants it back the minute it begins to rain." |
"The bank hath benefit
of interest on all moneys
which it creates out of nothing." |
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2008 October 23
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"... the privilege of creating and issuing money... is the government's greatest creative opportunity... [saving] the taxpayers immense sums of money..." |
"If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Constitution pays nobody but those who contribute in some useful way. It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People." |
"A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men who, even if their action be honest and intended for the public interest, are necessarily concentrated upon the great undertakings in which their own money is involved and who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom." |
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2008 October 22
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"No State shall... coin money; emit bills of credit; make any thing but gold and silver coin a tender in payment of debts..." |
"...first ascertain exactly the position of the various capitalists, then control them, influence them by restricting or enlarging, facilitating or hindering their credits, and finally they can entirely determine their fate." |
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2008 October 21
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"Historically, the United States has been a hard money country.
Only [since 1913] has the United States operated on a fiat money system.
During this period, paper money has depreciated over 87%.
During the preceding 140 year period, the hard currency
of the United States had actually maintained its value.
Wholesale prices in 1913... were the same as in 1787." |
"Some people think the Federal Reserve Banks are US government institutions. They are not... they are private credit monopolies which prey upon the people of the US for the benefit of themselves and their foreign and domestic swindlers, and rich and predatory money lenders. The sack of the United States by the Fed is the greatest crime in history. Every effort has been made by the Fed to conceal its powers, but the truth is the Fed has usurped the government. It controls everything here and it controls all our foreign relations. It makes and breaks governments at will." |
These statements were made during hearings of the House Committee on Banking and Currency, September 30, 1941. Members of the Federal Reserve Board call themselves "Governors." Governor Marriner Eccles was Chairman of the Federal Reserve Board at the time of these hearings:
Congressman Patman: "How did you get the money to buy those two billion dollars worth of Government securities in 1933?"
Governor Eccles: "Out of the right to issue credit money."
Patman: "And there is nothing behind it, is there, except our Government's credit?"
Eccles: "That is what our money system is. If there were no debts in our money system, there wouldn't be any money."
Congressman Fletcher: "Chairman Eccles, when do you think there is a possibility of returning to a free and open market, instead of this pegged and artificially controlled financial market we now have?"
Governor Eccles: "Never, not in your lifetime or mine." |
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2008 October 20
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"I believe that banking institutions are more dangerous to our
liberties than standing armies. Already they have raised up a
moneyed aristocracy that has set the Government at defiance.
The issuing power should be taken from the banks and restored
to the people to whom it properly belongs." |
"I am for a government rigorously frugal and simple. Were we directed from Washington when to sow, when to reap, we should soon want bread." |
"The system of banking [is] a blot left in all our Constitutions,
which, if not covered, will end in their destruction...
I sincerely believe that banking institutions are more dangerous
than standing armies; and that the principle of spending money to
be paid by posterity... is but swindling futurity on a large scale." |
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