Louis McFadden and the Fed
On May 23, 1933, Congressman, Louis T. McFadden, brought formal charges against the Board of Governors of the Federal Reserve Bank system for numerous criminal acts, including but not limited to: CONVERSION, AND TREASON. The petition for Articles of Impeachment was thereafter referred to the Judiciary Committee and has yet to be acted upon. What’s significant here is the fact that the U.S. Federal Reserve operates in much the same way as the Bank of England; in other words it is a PRIVATELY OWNED INSTITUTION which simply prints money and then LENDS it to the government of the day with the understanding that it will be repaid, PLUS INTEREST. The government then collects taxes that are used, amongst other things, to repay this loan. In essence this loan is what is generally referred to as the national debt, owed to private banking interests by the people of Britain and America. The following quotes are from a speech made to the U.S. Congress by McFadden in 1934:
“Mr. Chairman, we have in this Country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks…
“This evil institution has impoverished and ruined the people of these United States, has bankrupted itself, and has practically bankrupted our Government. It has done this through the defects of the law under which it operates, through the maladministration of that law by the Fed and through the corrupt practices of the moneyed vultures who control it.
“These twelve private credit monopolies were deceitfully and disloyally foisted upon this Country by the bankers who came here from Europe and repaid us our hospitality by undermining our American institutions. Those bankers took money out of this Country to finance Japan in a war against Russia. They created a reign of terror in Russia with our money in order to help that war along. They instigated the separate peace between Germany and Russia, and thus drove a wedge between the allies in World War. They financed Trotsky's passage from New York to Russia so that he might assist in the destruction of the Russian Empire. They fomented and instigated the Russian Revolution, and placed a large fund of American dollars at Trotsky's disposal in one of their branch banks in Sweden so that through him Russian homes might be thoroughly broken up and Russian children flung far and wide from their natural protectors.
“It is true that the warehouses and coal yards and grain elevators are full, but these are padlocked, and the great banks and corporations hold the keys.”
And regarding President Roosevelt McFadden had this to say:
“Roosevelt did what the International Bankers ordered him to do!”
Having been Chairman of the Banking and Currency Commission for more than ten years McFadden actually knew what he was talking about. Shortly after having filed his charges several attempts were made on his life, with the final attempt being diagnosed by a doctor as ‘poisoning.’
Last updated 20/02/2003