The Federal Reserve Banking System
The Federal Reserve System
The Federal Reserve System is the central banking system of the United States. It was created in 1913, with the enactment of the Federal Reserve Act, and was largely a response to prior financial panics and bank runs, the most severe of which being the Panic of 1907. Almost all US banks are a part of the Federal Reserve System, which requires that those banks maintain a certain percentage of their assets deposited with the regional Federal Reserve Bank. These 'reserve requirements' are set by the Board of Governors, and by changing the requirements, the Federal Reserve System can greatly impact the amount of money supply in the economy.
The Federal Reserve is Unconstitutional
Article 1, Section 8, of the U.S. Constitution says:
“Congress shall have Power ... To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.”
In 1913, Congress passed the Federal Reserve Act. This Act created the Federal Reserve system giving it the power to regulate the value of America's currency. The power to create money and regulate the value thereof is given to Congress by the U.S. Constitution. The U.S. Constitution does not give Congress the power to give away any of its powers, established by the Constitution. Therefore, when Congress signed the Federal Reserve Act, they knowingly gave away their power to the Federal Reserve, which is unconstitutional. The Federal Reserve is not controlled by Congress. The 12 Federal Reserve banks, which make up the Federal Reserve system are all privately owned corporations.
On May 23, 1933, Congressman, Louis T. McFadden (pictured above), brought formal charges against the Board of Governors of the Federal Reserve Bank system. The Controller of the Currency and the Secretary of United States Treasury for numerous criminal acts, including but not limited to, "CONSPIRACY, FRAUD, UNLAWFUL CONVERSION, AND TREASON." The petition for Articles of Impeachment was thereafter referred to the Judiciary Committee and has yet to be acted upon.
Americas Central Bank History (Source: Donald Watkins)
In 1791, the Rothschild family gained control of America's money supply through Alexander Hamilton (the family's agent in George Washington's cabinet) when the family established a central bank in the U.S. named the First Bank of the United States, which received a 20-year charter from Congress in 1791. When Congress refused to renew the charter in 1812, the Rothschilds threatened the U.S. with a "most disastrous war" with Britain. The U.S. stood firm. Following through on their threat, a second war broke out between the U.S. and Britain. The British war effort was financed by the Rothschilds. When the war ended in 1815, U.S. finances were in shambles.
By 1816, Congress passed a bill authorizing a second Rothschild-dominated central bank with a 20-year charter. Named the Second Bank of America, this bank gave the Rothschilds control of the American money supply again.
In 1823, the Rothschilds took control over the financial operations of the Catholic Church, worldwide.
US President John F Kennedy signed Executive Order 11110 in June of 1963. This Order returned the power to issue currency to the government without going through the Federal Reserve Bank, the money was issued interest-free and was backed up by the silver reserve. Five months later JFK was dead.
Kennedy's chief of special operations for the joint chief of staff, Fletcher Prouty, and Kennedy's defense secretary, Robert McNamara both say Kennedy wanted to end the war in Vietnam. Prouty says that Kennedy signed Memorandum 263 which stated that all soldiers and other personell would be withdrawn from Vietnam by 1965. McNamara also says Kennedy refused to endorse the introduction of US combat forces in Vietnam.
After his death, just five months after signing Executive Order 11110, JFK was dead. An unelected president, Lyndon Johnson, replaced Kennedy and not only was there no such withdrawal from Vietnam by 1965, but Johnson's first act on the plane (Air Force One), after being sworn in on the flight immediately following Kennedy's death, was to put back into effect the Federal Reserve Act that Kennedy had revoked. He also subsequently paid the $1billion buy out clause that was part of that act.
US President Abraham Lincoln created government interest-free money, so called 'green-back dollars', to pay off the debt from the Civil War. In 1865 Lincoln was assassinated. As with Kennedy's assassination, after Lincoln was killed, the interest-free money was taken out of circulation. Lincoln, like Kennedy, was aware of the corruption taking place, as described in his letter to William Elkins, Nov 21, 1864:
"I see in the near future a crisis approaching. It unnerves me and causes me to tremble for the safety of my country. The money powers preys upon the nation in times of peace and conspires against it in times of adversity. It is more despotic than a monarchy, more insolent than autocracy, more selfish than bureaucracy. It denounces, as public enemies, all who question its methods or throw light upon its crimes. I have two great enemies, the Southern Army in front of me & the financial institutions at the rear, the latter is my greatest foe. Corporations have been enthroned, and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in the hands of a few, and the Republic is destroyed." - Abraham Lincoln
Debt could be eliminated by introducing the interest-free system, but as these articles hopefully help to explain, this corrupt system which controls our lives everyday is designed to create debt and through debt control.