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ABIGAIL REPORTS's avatar

The cover letter is to long for a comment. The Emperor’s Clothes

Cost Twenty Dollars

https://pages.boblivingstonletter.com/emperors-clothes/the-emperors-clothes-lp08.php?SC=B11564108

Bob Livingston

Today is the Federal Reserve's 111th birthday. It's likely to slip by with little fanfare, though it should be a day that lives in infamy. It's more destructive than Pearl Harbor. In fact, it made Pearl Harbor — and all wars in the last century — possible.

On Dec. 23rd, 1913, Congress passed the Federal Reserve Act. The act itself was conceived three years earlier during a secret meeting of moneyed elites and their U.S. senators/proxies.

The Federal Reserve was conceived in a secret meeting at a wealthy retreat on a barrier island called Jekyll Island, Ga., in 1910. The principals involved were: Senator Nelson Aldrich, the father-in-law of John D. Rockefeller Jr., representing Rockefeller interests and the Standard Oil crowd; Paul Warburg, a German banker representing MM Warburg of Hamburg, European banking interests (including the Rothschilds) and Kuhn Loeb in the U.S.; Henry P. Davison, partner in J.P. Morgan and chairman of Bankers Trust Company (a consortium of New York's biggest banks); Benjamin Strong, vice president of Bankers Trust; Frank Vanderlip, chairman of National City Bank (Vanderlip was also a Rockefeller agent — related by marriage — and was a director of Rockefeller's railroad and lumber concerns); and Charles D. Norton, president of the First National Bank. Assistant U.S. Secretary of the Treasury Abraham Piatt Andrew is also reported to have attended.

They established a private bank that controlled U.S. monetary policy. Although named the Federal Reserve, the bank is not a part of the Federal government. It is a private for-profit entity owned by the member banks.

Let me repeat that: The Federal Reserve is not owned by the citizens of the United States. It is owned by the banksters.

The Fed holds no reserves but lends "money" to other banks — both in the United States and abroad — and the Federal government. The loans must be paid back with interest. But the money the Fed lends is not real money. It's simply a kited check.

The Fed has the authority to arbitrarily set interest rates and lend money to whomever it wishes, and it has no real accountability to Congress or the President.

The Fed has a monopoly on the issue of all bank notes. National and State banks can issue only deposits, and the deposits are redeemable only in Federal Reserve Notes. All banks are forced to become members of the Federal Reserve System.

The Fed is the lender of last resort, and that power allows it to inflate to bail out banks, as we saw extensively in 2008-2009, and of course during the COVID lockdowns.

Like most all nefarious legislation, the Federal Reserve Act was passed in a rush. Congress was eager to head home for the holidays; so two days before Christmas, there was no stomach in Washington for a lengthy debate on the bill's merits. In fact, 28 of the 96 Senators had already left Washington.

Named the Owen Bill after Senator Robert Latham Owen of Oklahoma — a major stockholder of the First National Bank of Muskogee — the Republicans did not even see the conference report, which is normally read to the floor, and some Senators said they did not know the contents of the bill. The act passed the Senate 43-25.

The act got more support in the House, where over 70 of the 435 members had gone home. Most Congressmen didn't even know what the bill was about. No amendments were allowed, and members were only allowed to vote for or against. The bill was named for Representative Carter Glass of Virginia (a director of the United Loan and Trust and the Virginia Trust Company). The vote was 298 for, 60 against. President Woodrow Wilson then quickly signed it.

And guess who was appointed to head the New York Federal Reserve? None other than Benjamin Strong, J.P. Morgan's minion, former vice president of Bankers Trust and one of the original conspirators who met on Jekyll Island to draft the bill that would create the Federal Reserve. Likewise, the Washington Federal Reserve was headed by two Morgan men, two Rockefeller minions, and two men of undetermined affiliations: a prominent Alabama banker and an economist with vague family connections to Morgan family interests.

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ABIGAIL REPORTS's avatar

China and communism must be squashed. HIVE MINDS

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