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Federal Reserve Quotes


"The Congress shall have Power To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures." --- The U.S. Constitution, Article 1~ 8

"No State shall...coin Money; emit Bills of Credit; make any thing but gold and silver coin a tender in payment of Debts." --- The U.S. Constitution, Article 1~ 10"

"If Congress has the right under the Constitution to issue paper money, it was given them to be used by themselves, not to be delegated to individuals or to corporations." --- President Andrew Jackson


The Federal Reserve:

"Coins and paper currency used as a circulating medium of exchange, and does not embrace notes, bonds, or evidence of debt..." --- Black's Law Dictionary's definition of Money

"What we really see from these definitions is that paper cannot be money. What we carry in our pockets, Federal Reserve Notes, are disqualified as money, because they are notes. A note is an IOU, an evidence of debt. It is not money!" --- Devvy Kidd, "Why A Bankrupt America", page 13

"Some people think the Federal Reserve Banks are U.S. government institutions. They are private credit monopolies which prey upon the people of the U.S. for the benefit of themselves and their foreign and domestic swindlers, and rich and predatory money lenders." --- Chairman Louis T. McFadden of the House Banking and Currency Committee, addressed the House on June 10, 1932: 75 Congressional Record 12595-12603

"Resistance to additional income taxes would be even more widespread if people were aware that: after waste and collection costs, 100% of what is collected is absorbed solely by interest on the federal debt... In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their government." --- The President's Private Sector Survey on Cost Control, page 12, presented to the Executive Committee on January 15th, 1984 (Reagan Administration)

"The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit... In absence of the gold standard, there is no way to protect savings from confiscation through inflation.... Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights." --- Alan Greenspan, back in 1966 when he was with the Ayn Rand Institute

"From a legal standpoint these banks are private corporations, organized under a special act of congress, namely, the Federal Reserve Act. They are not in the strict sense of the word Government Banks." --- William P.G. Harding, Governor of the Federal Reserve Board, Delivered before the Washington Chamber of Commerce in 1921

"This Act establishes the most gigantic trust on earth. When the President signs this Act, the invisible government by the Money Power, proven to exist by the Money Trust Investigation, will be legalized. The new law will create inflation whenever the trusts want inflation. From now on depressions will be scientifically created." --- Charles A Lindberg, Sr. at the time of the passage of the Federal Reserve Act in 1913

"Neither Presidents, Congressmen, nor Secretaries of the Treasury direct the Federal Reserve. In the matters of money, the Federal Reserve directs them." --- Gary Allen, "None Dare Call It Conspiracy".

"In the United States we have, in effect, two governments... We have the duly constituted Government... Then we have an independent, uncontrolled and uncoordinated government in the Federal Reserve System, operating the money powers which are reserved to Congress by the Constitution." ---Congressman Wright Patman

"The dirty little secret is that both houses have become irrelevant.... In case you hadn't noticed, America's domestic policy is now being run by Alan Greenspan and the Federal Reserve Board.... Congress is out of the loop. Every so often, some senators or house members politely ask Greenspan to visit and talk about the economy... Then he goes back down to the Fed and runs the country.... America's foreign policy is being run by the IMF (International Monetary Fund)... and when the President decides to go to war, he no longer needs a declaration of war from Congress." ---Robert Reich, former Secretary of Labor under William J. Clinton, January 7, 1999, USA Today

"Strictly speaking, it probably is not necessary for the Federal government to tax anyone directly; it could simply print the money it needs. However that would be too bold a stroke, for it would then be obvious to all what kind of counterfeiting operation the government is running. The present system combining taxation and inflation is akin to watering the milk: Too much water and the people catch on." ---Ron Paul, former member of the U.S. Congress

"By law, the seven members of the Federal Reserve Board are appointed by the President for a term of fourteen years each. In spite of the incredible length of these appointments, nevertheless, they are supposed to create the illusion that the people, acting through their elected leaders, have some voice in the nation's monetary policies. In practice, however, every President since the beginning of the Federal Reserve System has appointed only those men who were congenial to the financial interests of the international banking dynasties. There have been no exceptions." --- G. Edward Griffin, "The Capitalist Conspiracy, page 17

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." --- Henry Ford, founder of Ford Motor Company, commenting on the Federal Reserve

"The privilege of creating and issuing money is not only the supreme prerogative of government, but it is the government's biggest creative opportunity. By the adoption of these principles, the taxpayers will be saved immense sums of interest." --- President Abraham Lincoln

"A disordered currency is one of the greatest political evils. It undermines the virtues necessary for the support of the social system, and encourages propensities destructive to its happiness. It wars against industry, frugality and economy, and it fosters evil spirits of extravagance and speculation. Of all the contrivances for cheating the laboring classes of mankind, none has been more effectual than that which deludes them with paper money." --- Daniel Webster, Congressional Record, March 4, 1846

"Give me control over the nation's currency and I care not who makes its laws." --- Baron M.A. Rothschild

"Whoever controls the volume of money in any country is master of all its legislation and commerce." --- President James Garfield