Federal Reserve Bank should be audited

To the Editor:

If we want to solve the economic crisis and end the Federal Reserve Bank, it must undergo a thorough audit — something that Congress has the authority to prescribe. The Federal Reserve Bank was created in December 1913, and passed by the U.S. Congress, which then led to the Federal Reserve Act being signed into law by President Woodrow Wilson, who after three years, said, “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.”

It is imperative that the American people realize that the Federal Reserve Bank is not a government agency. The name “Federal Reserve” was created then to deceive the people into believing that it is a government agency and remains as such today. It is not federal, nor is it owned by the government, but rather, is privately held by a minority group.

Bankers always wanted to have a central bank controlling the economy of the entire nation, while presidents like Andrew Jackson, Abraham Lincoln, James A. Garfield and John F. Kennedy were opposed to the bank’s position and rejected the idea of giving power to a minority group for such important issues. The fight began when European bankers put pressure on the United Kingdom government to pass the Currency Act of 1764, to stop the colonial script and replace it with notes from the Bank of England. The exchange was at a rate of two colonial scripts for one note from the Bank of England.

Widespread unemployment and economic depression in the colonies resulted. In 1791, bankers started a private bank, known as The First Bank of The United States. The Bank received a 20-year charter, and in March 1811, ceased to exist, as the government voted against renewing its charter.

In 1791, Secretary of State Thomas Jefferson argued that the bank violated traditional property laws. During his presidency in 1802, he said, “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 and then 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 banks and restored to the people to whom it properly belongs."

Mayer Rothschild, the son of Mayer Amschel Rothschild and head of Europe's most powerful banking family, was reported as saying that the United States “would find itself involved in a most disastrous war if the bank's charter were not renewed." Five months after The First Bank of the United States closed, the British declared war on the United States. The War of 1812 was allegedly financed by loans from the Rothschild's.

Four years later, in 1816, The Second Bank of the United States was chartered — the European bankers were back! Jackson was an advocate of sound monetary policies, as outlined in the U.S. Constitution, and opposed the central bank system of issuing currency against debt. So, he began an investigation on the bank and discovered, "beyond question that this great and powerful institution had been actively engaged in attempting to influence the elections of public officers by means of its money."

On July 10, 1832, Jackson vetoed Congress' decision to renew the charter of The Second Bank of the United States, and said, "It is not our own citizens only who are to receive the bounty of our government. More than 8 million of the stock of this bank are held by foreigners ... is there no danger to our liberty and independence in a bank that in its nature has so little to bind it to our country? Controlling our currency, receiving our public moneys, and holding thousands of our citizens in dependence would be more formidable and dangerous than a military power of the enemy."

In 1835, Jackson paid off the final installment on the national debt — something that he was the first and only president to do. Speaking about bankers, he said, “You are a den of vipers, I intend to rout you out, and by the Eternal God I will rout you out! If the people only understood the rank injustice of our money and banking system there would be a revolution before morning."

A few weeks later, Richard Lawrence attempted to assassinate Jackson, who then told his Vice President Martin Van Buren, "The bank, Mr. Van Buren, is trying to kill me." Lawrence allegedly told several friends that wealthy people in Europe had promised to get him released, should he get caught.

The Rothschild interests did succeed, through their agent, Treasury Secretary Salmon P. Chase, to force the National Banking Act through Congress, creating a federally chartered central bank that had the power to issue U.S. Bank Notes. Afterward, Lincoln warned the American people: “The money power preys upon the nation in time of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. I see in the near future a crisis approaching that unnerves me, and causes me to tremble for the safety of our country. Corporations have been enthroned, an era of corruption 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 a few hands, and the republic is destroyed.”

The trial of blood continues. President James A. Garfield declared, “Whoever controls the money in any country is absolute master of industry (legislation) and commerce.” In other words, control over business and fruits of labor of all people. After four months in office, he was shot in Washington Station, and died two months later.

Louis T. McFadden, a Republican Congressman, and chairman of the House Banking and Currency Committee from 1920 to 1931, declared: “Through the Fed, the people are losing their rights guaranteed to them by the Constitution...common decency required us to examine the public accounts of the government and see what kind of crimes against the public welfare have been committed...the people of these United States are being greatly wronged. Every effort has been made by the Fed to conceal its power, but, truth is, the Fed has usurped the Government...the sack of these United States by the Fed is the greatest crime in history.”

Republican Congressman Louis T. McFadden, chairman of the House Banking and Currency Committee from 1920 to 1931, was poisoned to death on October 3, 1936. Sen. John Heinz lost his life in a plane crash near Philadelphia on April 4, 1991, and the next day, former Sen. John Tower also died in a plane crash Georgia. Coincidence?

On June 4, 1963, President John F. Kennedy signed the E.O11110, with the intent to print $4.3 billion to be spent for the budget of 1964 and, at the same time, leave the Fed out. Unfortunately, on November 22, 1963, Kennedy was assassinated. His project to restart the right of the emission of currency was cancelled. Among the seven members of the Warren Commission, one was John J. McCloy, former president of the World Bank, which begs the question: Why, and what interest does a banker have within that commission?

Robert Kennedy was nominated a candidate for the Democratic Presidential Party, and during his campaigning on June 6, 1968, was shot to death. It seems to me that the purpose of the assassination was to prevent Kennedy from entering the White House and getting back to resolving the currency issue.

The Federal Reserve Bank was funded through bribery, intimidation and greed, among other resources. The creation of the Fed in 1913 appears to be legal, but was and remains the biggest fraud against the people of this Great Nation. The Fed has accumulated huge wealth while we, the people, have accumulated huge debt.

There are more than 300 congressmen and senators from both parties, who are in favor of auditing the Fed. Since the scale of economy is controlled by a few greedy people, balancing the budget will be impossible no matter who or what party is in the White House.

It is time for the people to stand up and support those legislators in favor of auditing the Fed and, more importantly, inform other legislatures to take action and support auditing the Fed. While this problem is not resolved, the people of the United States will remain suffering the consequences of the economic crisis created by bankers leaving the nation cornered without an exit.

Frank De Bártolo

Elmont