Federal Reserve Note = fiat money = UNSTABLE!

In the midst of the great depression of the 1930s, one lone man stood to demand transparency and accountability from the organization that had created the depression.

Louis T. McFadden  was the president of the Pennsylvania Bankers' Association (1914-15) and president of the First National Bank of Canton, Pennsylvania (1916-25). He had been Chairman of the House Banking and Currency Committee for over 10 years when he made this speech denouncing the Federal Reserve System.

 Here are some of the high points . . . 

Mr. Chairman, last December, I introduced a resolution here asking for an examination and an audit of the Federal Reserve Board   http://www.modernhistoryproject.org/mhp/EntityDisplay.php?Entity=FedResBoard     and the Federal Reserve banks and all related matters. If the House sees fit to make such an investigation, the people of the United States will obtain information of great value. This is a Government of the people, by the people, for the people. Consequently, nothing should be concealed from the people. The man who deceives the people is a traitor to the United States. The man who knows or suspects that a crime has been committed and who conceals or covers up that crime is an accessory to it.

Mr. Speaker, it is a monstrous thing for this great Nation of people to have its destinies presided over by a traitorous Government board acting in secret concert with international usurers. Every effort has been made by the Federal Reserve Board  to conceal its power but the truth is the Federal Reserve Board has usurped the Government of the United States. It controls everything here and it controls all our foreign relations. It makes and breaks governments at will. No man and no body of men is more entrenched in power than the arrogant credit monopoly which operates the Federal Reserve Board and the Federal Reserve banks.

The people of the United States are being greatly wronged. If they are not, then I do not know what "wronging the people" means. They have been driven from their employments. They have been dispossessed of their homes. They have been evicted from their rented quarters. They have lost their children. They have been left to suffer and to die for lack of shelter, food, clothing, and medicine.

The wealth of the United States and the working capital of the United States has been taken away from them and has either been locked in the vaults of certain banks and the great corporations or exported to foreign countries for the benefit of the foreign customers of those banks and corporations. So far as the people of the United States are concerned, the cupboard is bare. It is true that the warehouses and coal yards and grain elevators are full, but the warehouses and coal yards and grain elevators are padlocked and the great banks and corporations hold the keys. The sack of the United States by the Federal Reserve Board and the Federal Reserve banks is the greatest crime in history.

Mr. Chairman, a serious situation confronts the House of Representatives to-day. We are trustees of the people and the rights of the people are being taken away from them. Through the Federal Reserve Board and the Federal Reserve banks, the people are losing the rights guaranteed to them by the Constitution. Their property has been taken from them without due process of law. Mr. Chairman, common decency requires us to examine the public accounts of the Government and see what crimes against the public welfare have and are being committed.

What is needed here is a return to the Constitution of the United States. We need to have a complete divorce of Bank and State. The old struggle that was fought out here in Jackson's day must be fought over again. The independent United States Treasury should be re-established and the Government should keep its own money under lock and key in the building the people provided for that purpose. Asset currency, the device of the swindler, should be done away with. The Government should buy gold and issue United States currency on it. The business of the independent bankers should be restored to them. The State banking systems should be freed from coercion The Federal Reserve districts should be abolished and the State boundaries should be respected. Bank reserves should be kept within the borders of the States whose people own them, and this reserve money of the people should be protected so that the international bankers and acceptance bankers and discount dealers can not draw it away from them. The exchanges should be closed while we are putting our financial affairs in order. The Federal Reserve act should be repealed and the Federal Reserve banks, having violated their charters, should be liquidated immediately. Faithless Government officers who have violated their oaths of office should be impeached and brought to trial.

Unless this is done by us, I predict that the American people, outraged, robbed, pillaged, insulted, and betrayed as they are in their own land, will rise in their wrath and send a President here who will sweep the money changers out of the temple.

 Last year, one lone man stood before congress and demanded the same transparency and accountability from the organization that had created the current depression.

 That man was Ron Paul.  Ron Paul’s bill to audit the Federal Reserve (HR 1207) now has 282 co-sponsors, and the numbers keep growing! HR 1207’s companion bill in the Senate, S 604, has already attracted 23 co-sponsors-

 This is history in the making, and victory is within reach. Imagine what will happen if HR 1207, The Federal Reserve Transparency Act, comes up for vote in Congress! With more than 64% of the House of Representatives already co-sponsoring this bill, it has real potential to pass — BUT only if we educate and rally the people to support it and get our Congresspeople to put it to vote and pass it.

Here's a list of Washington's Representatives who have signed on, and the date they signed -

Rep Smith, Adam [WA-9] – 4/22/2009

Rep McDermott, Jim [WA-7] – 4/29/2009

Rep McMorris Rodgers, Cathy [WA-5] – 5/4/2009

Rep Hastings, Doc [WA-4] – 5/11/2009

Rep Inslee, Jay [WA-1] – 5/12/2009

Rep Reichert, David G. [WA-8] – 5/20/2009

Rep Baird, Brian [WA-3] – 7/10/2009

To date, neither of our Senators have signed on to S 604.

So, how can you help?

Sign the petition at AudittheFed.com.   Print the petition and gather signatures.

Call our Congresspeople!  If you can't call, eMail, but a phone call is preferable.  Tell these to co-sponsor and then VOTE for HR 1207.

Rick Larsen, 2nd District    

Jim McDermott, 7th District

Norm Dicks, 6th District    

Thank the others for co-sponsoring, and ask them to VOTE for HR 1207.  

Contact our Senators. Tell them to co-sponsor and then VOTE for S 604.

Mass Action Day - Sept 15, 4pm at the local offices of our Senators. Be there. Be a voice.  Bring any petitions  you have had signed.

Patty Murray's offices

Maria Cantwell's offices

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