The Privately Owned Federal Reserve Bank

(copié sur le 'GOLD IS MONEY' FORUM

The Sad Story Of The Privately Owned Federal Reserve Bank 

“The money powers prey upon the nation in times of peace and conspire against it in times of adversity. 
It is more despotic than a monarchy, more insolent than autocracy and more selfish than a 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 and the bankers in the rear. 
Of the two, the one at the rear is my greatest foe.” 

“We have given the People of this Republic the greatest blessing they have ever had
-their own currency to pay their own debts.” (No privately owned Federal Reserve Bank or other central bank) 

“The high office of the President has been used to foment a plot to destroy the Americans freedom 
and before I leave office I must inform the Citizen of his plight.” 
PRESIDENT JOHN F. KENNEDY (10 days before he was murdered)

“Like it or not, you are a slave. You admit you are a slave every April 15th! 
That’s when you sign forms that “voluntarily” lay bare to the government the most private details
 of your life! And few people realize the income tax is a slave tax. 
It can never be compatible with the life of a free people. 
ALAN KEYES - Republican Nominee for President 



The privately owned Federal Reserve Bank is not a government agency. 
The privately owned Federal Reserve Bank (The Fed) is privately owned by a group of primarily foreign bankers.
 In 1913, Congress sank America into eternal debt by giving the power to issue currency and control 
the American economic system to the privately owned Federal Reserve Bank. Who are the owners or chief 
shareholders of the privately owned Federal Reserve Bank? Originally, there were reportedly 203,053 shares
 of privately owned Federal Reserve Bank stock, of which approximately 65% were owned by foreigners and
 approximately 35% (72,000 shares) were owned by:

Rockefellers’ National City Bank = 30,000 shares
Chase National = 6,000 shares (currently Chase Manhattan and owned by David Rockefeller)
The National Bank of Commerce = 21,000 shares (now known as Morgan Guaranty Trust)
Morgans’ First national Bank = 15,000 shares
Interestingly, the total shares owned by Rockefellers interests equal 36,000 shares and the total 
of Morgan’s equals 36,000 shares.

Although the privately owned Federal Reserve Act of 1913 provided the names of the owner banks be kept a secret, 
R.E. McMaster, publisher of the newsletter” The Reaper” discovered, 
through confidential Swiss banking connections, that the following banks have controlling interest
 in the privately owned Federal Reserve Bank 

Rothchild Banks of London and Berlin
Lazard Brothers Bank of Paris
Israel Moses Sieff Banks of Italy
Warburg Bank of Hamburg, Germany and Amsterdam
Kuhn Loeb Bank of New York
Lehman Brothers Bank of New York
Goldman Sachs Bank of New York
Chase Manhattan Bank of New York (Controlled By Rockefellers)
In his impeccably researched book “Secrects of the Privately Owned Federal Reserve”, 
Eustace Mullins states: 
“Because the privately owned Federal Reserve Bank of New York sets interest rates 
and controls the daily supply of price of currency throughout America, 
the owners of that bank are the real directors of that whole system. 
These shareholders have controlled our political and economic destinies since 1913.” 
Those shareholders making up Mullins’ list are almost identical to the one compiled by
 the Swiss banking source.

The Rothchilds 
Lazard Freres (Eugene Mayer) 
Israel Sieff 
Kuhn Loeb Company 
Warburg Company 
Lehman Brothers 
Goldman Sachs
The Rockefeller family and J.P. Morgan interests
Sounds like a real group of American Patriots, doesn’t it! 


The day before the privately owned Federal Reserve Act passed, Congressman Charles Lindberg Sr. said:
 “The money trust deliberately caused the 1907 money panic and thereby forced Congress to create
 a National Monetary Commission which led to the ultimate creation of the privately owned
 Federal Reserve Bank. The Federal Reserve Act establishes the most gigantic monetary trust on earth.
 When the President signs the bill, the invisible government of the Monetary Powers will be legalized.
 The people must make a declaration of independence to relieve themselves from the Monetary Powers,
 by taking control of Congress!... The worst legislative crime of the ages is perpetrated 
by this banking bill. The caucus and the party bosses have again operated and prevented 
the people from getting the benefit of their own government!” 

How did the monetary powers manipulate the passage of the Federal Reserve Act? 
Senator Nelson Aldrich was named as chairman of the Monetary Commission, 
which was like naming a cat to design the canary cage. Aldrich was the maternal grandfather
 of Nelson Aldrich Rockefeller of Standard Oil and Chase Manhattan Bank, 
through the marriage of his daughter, Abby Greene Aldrich to John D. Rockefeller Jr. 
The Rockefellers have been the largest beneficiaries of the privately owned Federal Reserve Bank.
 The chief architect of the plan was Paul Warburg, a Rothchild agent who was salaried at $500,000.00 a year
 (equivalent to about 5 million dollars today). 
Another member of the monetary commission was Jacob Schiff of Kuhn-Loeb and Co., 
who helped finance the Bolshevik revolution in Russia with a $20 Million contribution. 
Schiff was born in a home shared with the Rothchilds in Frankfurt, Germany. 
On November 22, 1910, Aldrich and the rest of the Monetary Commission met at a private hunting club
 of J.P. Morgan on Jekyll Island, Georgia, to draft a bill that would put the economic future of 
the United States into the hands of a few private Money Powers. Read "The Creature From Jekyl Island". 

The original bill was the highly unpopular Owen-Glass Bill. The name of the bill was later changed
 to the Federal Reserve Act. The timing of the vote for the Federal Reserve Act was engineered
 by its promoters. It was passed hastily in effort to break for Christmas on December 23, 1913,
 while the majority of opposing Congressmen were on Christmas vacation. Then, when elected, 
the banker-financed Woodrow Wilson immediately signed the Federal Reserve Act. 
Within months of starting the privately owned Federal Reserve Bank, individual Income Taxes 
were created to pay for this new bankers’ interest expense. 
The taxes of American Citizens pay the interest on all new “debt certificate” currency and credit
 issued by the privately owned Federal Reserve Bank. Where does the privately owned Federal Reserve Bank
 spend the mass profits it extorts from the labor of our People? Dr. Antony Sutton, 
author of “Wall Street and the Bolshevik Revolution” (Arlington House Publishers, Rochelle, N.Y., 1974),
 provides some insight. He conducted exhaustive research through American, Canadian and German government
 archives and discovered solid evidence, which he painstakingly documented, 
proving that many American Capitalists, primarily the JP Morgan (US Steel) interests provided 
financial support for the Bolshevik Revolution in Russia. Also, William B. Thompson, 
Director of the US Federal Reserve Bank of New York, provided the Bolsheviks significant monetary support.
 Dr. Sutton stated “If Thompson had not been in Russia in 1917, subsequent history might have followed
 quite a different course. Without the financial, diplomatic and propaganda assistance given by
 Thompson and his associates to Trotsky and Lenin, The Bolsheviks may well have quickly withered away. 


Ask yourself this question, “If you were given a monetary printing press and a legal contract 
to print and issue all the money you would ever need to run your household at no cost to you, 
would you, instead, give that printing press and contract to a banker and agree to borrow 
your money from him, to be repaid in full with interest?” "NEVER". 

The government has done exactly that. The most awesome power America has is the power to CREATE,
 using as collateral the future productivity of its Citizens, all of the currency and credit 
we would ever need to run our government, prosperously! Instead, America has legislated away 
this priceless power of monetary and credit creation to a group of primarily foreign, 
self-serving bankers! According to the Supreme Court, this transfer of power is in direct violation
 of the law. 

“Congress may not abdicate or transfer to others its legitimate functions”
Schechter Poultry v U.S. 29 U.S. 495, 55 U.S. 837.842 (1935) 

Following is a simplified explanation of the inane method in which currency and credit
 is currently created in the United States. This system benefits a few elitists at an exorbitant
 cost to We the People! The average American contributes one third of his hard earned dollars 
to support this corruption!

Let’s say, for example, that to carry out its legitimate functions, 
the United States needs $300 billion in credit and $100 million in currency :

The U.S. Bureau of Printing and Engraving at the U.S. Treasury is instructed to print 
$100 million in Federal Reserve Notes, as currency for the privately owned Federal Reserve Bank.
The privately owned Federal Reserve Bank System pays the U.S. Bureau of Printing and Engraving 
$20.60 per 1000 bills it prints!That is approximately two and a half cents for each bill, 
regardless of their face denomination, ie. $1, $5, $10, $20, $50, $100 bill. WHAT A DEAL!!
Next, the United States orders the same U.S. Bureau of Printing and Engraving to print $300 billion,
 $100 million worth of U.S. Treasury Bonds.
The privately owned Federal Reserve Bank then purchases $100 million of U.S. Treasury Bonds 
(redeemable at full face value plus interest) from the United States. To pay for these, 
the Fed uses the privately owned Federal Reserve Bank Notes that they just purchased 
for two and a half cents per bill! Next, the privately owned Federal Reserve Bank purchases 
the other $300 billion in U.S. Bonds with a simple ten second computer entry that transfers 
$300 billion in “credit” into the United States’ Treasury account.
 Where did the privately owned Federal Reserve Bank System get the $300 billion? It created it from NOTHING.
The People are then obligated to repay the privately owned Federal Reserve Bank, 
with their tax dollars, at full face value, plus interest 
(which is converted to gold at par, through the International Monetary Fund). 
The privately owned Federal Reserve Bank Notes and federal government credits were created 
for virtually nothing.

Conversely, the repayment of just the interest on these bonds requires a Citizens’ physical labor
 from approximately January 1st until May 1st and giving 100% of their substance to the 
privately owned Federal Reserve Bank.What does the privately owned Federal Reserve Bank or
 the federal government give back to We the People in exchange for the sweat of our brow? 
NOTHING! ZIP! NADA! That constitutes servitude without just compensation. 

COST TO WE THE PEOPLE: $300 Billion, $100 Million, plus continuously compounding interest.


Baron de Rothschild 

The Power of Monetary and Credit Creation 

Where does the privately owned Federal Reserve Bank get its money?

The privately owned Federal Reserve Bank has created a debt based economy. It creates nothing.
 Every dollar that America spends, it borrows from someone else. Every privately owned 
Federal Reserve Bank note in your wallet is nothing more than a debt certificate. 
America has given its greatest power, monetary creation, to the privately owned Federal Reserve Bank.
 MONEY FACTS: House Banking and Currency Committee,1964, pp. 9, states:
 “The privately owned Federal Reserve Banks create Federal Reserve Notes out of thin air to buy
 government bonds from the United States Treasury by lending into circulation at interest and
 by bookkeeping entries of checkbook credit to the United States Treasury. 
The Treasury writes up an interest bearing bond for one billion dollars. 
The privately owned Federal Reserve gives the Treasury a one billion dollar credit for the bond,
 it has created from nothing. This is one billion dollar debt which the American people are obligated
 to pay full, with interest.” 

A publication called, “PUTTING IT SIMPLY”, by the Boston Federal Reserve Bank, sums it up as:
“When you or I write a check there must be sufficient funds in our account to cover that check,
 but when the privately owned Federal Reserve writes a check, it is CREATING money.”


In reality money is not created from thin air. The backing or value of the dollar does NOT exist
 at its creation, but by its redemption. It is not gold or silver that backs our currency 
but the willingness by the American people to exchange that currency for raw materials, goods,
 services, manpower and brainpower! In other words, the REAL collateral behind the dollar
 is the American Peoples productivity. This is a commodity in which America is extremely rich!
 If you use currency to buy food, it is the food that gives the currency value. 
The food has value without the currency, but the currency has no value without the food or
 other valuable substance or service. The creator of the currency merely prints “Notes” 
that we exchange among each other for goods and services. Currency is, simply put, barter certificates.
 Although gold and silver, because of their intrinsic value, are an excellent hedge against
 FED engineered inflation. It is the productivity of the American people that gives currency
 its purchasing value. If we all refused to use privately owned Federal Reserve Bank notes 
for our exchanges, the Feds currency would have absolutely NO VALUE. Someone has to create currency
 if we are to have a medium of exchange other than direct bartering. The biggest mistake in 
American history was to give this awesome creative power to the privately owned Federal Reserve Bank!
 Because it is the productivity of the people that is collaterizing the currency, it should be the people
 that benefit by its creation. the Congress should immediately take back the power of 
legislative monetary and credit creation, with safeguards, for the benefit of prosperity of 
the American People!


John Wilkes Booth, who assassinated Lincoln, was a member of the Knights of the Golden Circle 
which was controlled by the bankers. Bismark, the Chancellor of Germany, made the following comments
 about the death of Lincoln. “The death of Lincoln was a disaster for Christendom. There was no man
 in the United States great enough to wear his boots and the bankers went anew to grab the riches.
 I fear that foreign bankers with their craftiness and tortuous tricks will entirely control the
 exuberant riches of America and use it systematically to corrupt modern civilization.”


After Lincolns’ un-borrowed Greenbacks were sufficiently and falsely discredited by inflation 
creating shenanigans of the bankers, the Greenback Act was revoked and replaced by the 
National Banking Act of 1863. Americans, once again, became the servants of the monetary powers!
 The National Banking Act of 1863 was passed after Salmon P. Chase, Secretary of the Treasury,
 and the Congress succumbed to the pressure of the bankers. Initially, the Greenbacks and
 Bank Notes were both utilized as currency. However, after President Lincolns’ assassination,
 the end of the Greenback came with an Act passed on April 12, 1866. 
This banker supported Act authorized the Secretary of the Treasury to sell bonds and use 
the proceeds to retire all United States currency, including the Greenbacks. 
At a time when the money supply should have been increased to reconstruct the United States 
after the civil War, the money powers, instead contracted it over the next ten years, 
as more and more money was destroyed and not replaced. Bankruptcies and business losses soared!
 this was because when money is scarce, banks loan fewer and fewer businesses the money they need
 to stimulate the economy. Then the businesses lay off workers, who lose their homes because 
they can’t make their mortgage payments. The bankers then make a clean sweep with property 
foreclosures, picking up businesses and citizens property for pennies on the dollar. 
They have created credits out of thin air and converted them into real property! 
This is exactly what is happening today, on an even more disastrous scale. 
Now the bank goes bankrupt, the FDIC (a federal government agency) seizes the bank. 
Then when the federal government can no longer make its interest payments, the privately
 owned Federal Reserve Bank and International Monetary Fund will seize the assets of the federal government.
 Businesses and private homes ultimately end up in the hands of the International Government.....
 no private ownership, no free enterprise... instant socialism without a shot fired!
 Like others who sold out their Country to the bankers before him, Secretary of Treasury,
 Chase, had a stab of conscience before dying stating: “Promoting the National Bank Act,
 through my agency, was the greatest financial mistake of my life! It has built up a monopoly
 which effects every interest in the country. It should be repealed.” Without a doubt,
if America is to be saved, the Federal Reserve Act must also be repealed! It is more corrupt
 and detrimental to America than any Banking Act in history! How have the monetary powers 
managed to buffalo the Congress and the People for so long? Following is an example of the 
smoke-screen propaganda created by the bankers and fed to Congress. This is the type of 
ridiculous rhetoric that has kept banking vultures in power for over 80 years!

House of Representatives 88th Congress, 32nd Session
“ has long been one of the political facts of life that private banks must be able to create*
 the lions’ share of the money, if not all the money. Thus there is little opposition to 
the government’s printing bonds and then permitting the banks to create the money with which
 to buy these bonds; but proposals that the government itself create the money instead of
 the bonds have always set off tremendous political upheavals (among who? Other bankers!) 
Bankers are politically very powerful. For example, Abraham Lincoln set off a political furor
 when he insisted upon having the government issue $346 million dollars instead of issuing 
interest-bearing bonds and paying interest.

A free thinking American might ask, “Why is this ridiculous policy of giving the banks power to 
create money out of thin air to buy U.S. Treasury Bonds at full face value plus interest 
a political fact of life!” It is the American workers tax dollars that must pay 
the interest and eventually the full principal on these bonds! 
Who was setting off these political upheavals? Certainly not the Americans who would no longer
 have to pay income taxes... not the Americans who would no longer have their hard earned 
dollars eaten away by the rampant inflation we have experienced since the FED took over 
our monetary system in 1913...It is not the American People who have had all 
their gold and silver stolen by the FED and who would, without a doubt, 
be the greatest beneficiaries of a debt free currency. Of course, it was and still is,
 the ulterior motivated FED banking powers themselves and the corrupt pockets they are filling
 who are creating this furor.
Why are they so “furious”? The answer appears in this editorial which appeared in the London Times,
 a paper controlled by the Rothchild banking dynasty. It was written at the time Lincoln 
was taking action to create an un-borrowed currency. READ THIS MORE THAN ONCE.. 
Its “arguments” summarize the magnificent benefits of creating America's own debt-free un-borrowed currency!
 These are the exact reasons that our Country SHOULD create a currency and credit of its own. 

“If this mischievous financial policy (of creating a debt-free currency), 
which has its origin in the American Republic, shall become permanent, 
then that government will furnish its own money without cost! It will pay off its debs and be without debt.
 It will have all the money to carry on its commerce. It will become prosperous without precedent
 in the history of the world. The brains and the wealth of all countries will go to America.
 That government must be destroyed or it will destroy every monarchy on the globe!” 

A debt-free American Currency would be a sad day in the history of the monetary powers.
 However, it would be the happiest day in the history of America! 
Logic confirms that America must have its own debt-free, un-borrowed currency.
 Ultimately, to be lawful money, it must be backed by gold and silver: 
but even un-backed debt-free American Currency is superior to un-backed privately owned 
Federal Reserve Bank debt Notes! 


When the civil war was instigated, the Union originally looked to the European Bankers 
to loan them money to finance the war. Thinking they had Lincoln at their mercy, 
they overstepped themselves by demanding 24%-36% interest. 

This was Lincolns’ opinion of bankers:

“The money powers prey upon the nation in times of peace and conspire against it in times of adversity.
 It is more despotic than a monarchy, more insolent than autocracy and more selfish that a 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 and the bankers in the rear.
 Of the two, the one at the rear is my greatest foe.”

Angered at the bankers, in Acts of February 25th and March 4th, 1862, Abraham Lincoln persuaded Congress
 to authorize the U.S. Treasury to issue $450 million dollars in United States Notes (currency) 
to finance the Civil War. These issues of currency were full legal tender and debt-free and interest-free.
 Because of the green ink used on the back of these bills, they were called “greenbacks.” 
Lincoln not only freed Black Americans from human slavery, he temporarily freed all Americans 
from monetary slavery!

After the Congress passed this powerful law, Lincoln said this:

“We have given the People of this Republic the greatest blessing they have ever had, 
their own currency to pay their own debts.”

A debt-free currency was a blessing for Americans and the “kiss of death” for the world bankers. 
The bankers fought back furiously with incredible amounts of money!

It is a fallacy to think, as many do, that the greenbacks were inflationary. 
This was propaganda, again used by the money powers to erroneously convince the people
 a national currency was destructive. Following is a summary of their tactics

Within four days of the issuance of the greenbacks, outraged bankers met to propose a scheme
 to lobby Congress to strip the Greenbacks of their full legal tender status. 
They succeeded by influencing Congress to add an “Exception Clause” to the law. 
This clause required that duties on imports and interest on the public debt (owed to the bankers)
 could be paid only in gold. The bank then added a 185% surcharge on the price of gold purchased
 with Greenbacks! This meant importers had to exchange $285 dollars in greenbacks for 
$100 dollars worth of gold! This exchange, in itself, made the People think that Greenbacks
 must be inflationary. Of course, the importers then had to take this 185% increase and add
 it to the cost of their goods. This resulted in dramatic price increases causing People
 to falsely believe the Greenbacks were inflationary. It was the bankers and their outrageous
 surcharges on Greenbacks that created the price increases. 

The Prosperity Of Un-Borrowed Currency and Credit

There were a few times in history that nations used the power of creating an un-borrowed currency
 to eliminate their debts and bring their country into prosperity. However, when the nations
 stopped borrowing money from the world bankers, a furor was always created, not among the People
 but among the banking vultures. The bankers would use their vast sources of money and power
 to artificially engineer problems that they could blame on the un-borrowed currency! 

When Henry I became King of England in 1100 A.D., he found the treasury completely empty. 
England's entire supply of gold and silver had gone with the Crusaders to Palestine. 
Rather than borrow money from world banks, he issued into circulation England's own un-borrowed 
currency called “tallies”. That was the richest time in England's history. There was no debt, 
no interest, and no inflation. For almost 700 years, England used this un-borrowed money created
 and issued by the King. This caused a prosperous utopia for the working people of England. 
This is the unprecedented period in the history of creative genius known as the Renaissance. 
The death toll for the prosperous Renaissance era came in 1694 when King William of Orange granted
 a charter to William Paterson and his world banker associates to establish the Bank of England 
as a fractional reserve central bank. The Bank of England has had a direct bearing on banking in America. 

The roots of our War of Independence can be traced back to the King's objection to the creation
 and issuance by the colonies of their own paper money, beginning with 7000 pounds issued by
 Massachusetts in 1690, and culminating with the issue of ‘Colonials’ as an un-borrowed 
currency by the Continental Congress. 

In 1763, Benjamin Franklin was in England and was asked to explain why the colonies were so prosperous,
 while England was suffering. He said “That’s simple. It’s only because in the Colonies 
we issue our own money called ‘Colonial Script’. 

When this conversation got back to the Bank of England, they forced England's Parliament to pass a Bill
 prohibiting the Colonies from issuing their own money. Franklin said “Within one year from the date
 Parliament passed this Bill, the streets of the Colonies were filled with unemployed Americans.” 
Later he stated that the War of Independence was caused by taking away the Citizens’ un-borrowed Colonials.
 In Franklins’ words “The Colonies would gladly have borne the little tax on tea and other matters, 
had it not been that England took away from the Colonies their money, which created unemployment
 and dissatisfaction.” During the war, a new un-borrowed currency called “Continentals” was issued. 
The Debauched Continentals

The English then debauched (corrupted) the Continentals by bringing in massive shiploads of 
counterfeit Continentals to the colonies. This caused a significant “overabundance” of money 
in circulation, which created inflation. Although who creates the currency has no effect on inflation,
 too much currency in circulation, competing for identical goods and services can competitively 
increase prices. The People did have 73 years of debt free prosperity before the English bankers
 and their engineered inflation succeeded in debauching their debt free currency! 
Thomas Jefferson once stated that if he could change just one part of the Constitution, 
it would be to prohibit the United States from borrowing!