Authored by Michael Maharrey via SchiffGold.com,
Two days before Christmas in 1923, Woodrow Wilson gave the United States a Christmas gift that keeps taking. On that day, he signed the Federal Reserve Act into law, creating the US central bank.
Since that inauspicious day, the US dollar has lost 96% of its value.
It’s no surprise that Wilson signed the Federal Reserve Act just one day before Christmas Eve. It was perfect timing so the general public wouldn’t notice.
The stated purpose of the legislation was to “provide the nation with a safer, more flexible, and more stable monetary and financial system.”
In reality, it was a gift to bankers.
In an article published by the Mises Institute, George Ford Smith explained why bankers were clamoring for a central bank.
Before the Fed’s founding, bankers in general and Wall Street in particular complained about US currency’s lack of “elasticity.” “Elasticity” in this context is one of the great euphemisms of human history. According to lore, this missing feature of “hard” money, such as gold or silver, was responsible for the panics of 1873, 1884, 1893, and 1907. The supply of the coins that were behind the paper banknotes couldn’t be increased when needed. Gold and silver were therefore said to be inelastic. Because of this inelasticity, the legend persisted that banks were having trouble meeting the demand for farm loans at harvest time, as G. Edward Griffin explains in The Creature from Jekyll Island:
“To supply those funds, the country banks had to draw down their cash reserves which generally were deposited with the larger city banks. This thinned out the reserves held in the cities, and the whole system became more vulnerable. Actually, that part of the legend is true, but apparently no one is expected to ask questions about the rest of the story.
“Several of them come to mind. Why wasn’t there a panic every Autumn instead of just every eleven years or so? Why didn’t all banks—country or city—maintain adequate reserves to cover their depositor demands? And why didn’t they do this in all seasons of the year? Why would merely saying no to some loan applicants cause hundreds of banks to fail?”
The Morgan and Rockefeller bankers on Wall Street dreamed of having a central bank that could supply money when needed, as a “lender of last resort.” A central bank would also control the banks’ inflation rate. If bank reserves could be maintained at a central bank and a common reserve ratio established, then no single bank could expand credit more than its rivals, and therefore there would be no bankruptcies caused by currency’s draining from overly inflationary banks. All banks would inflate in harmony, and there would be tranquility and profits for all.
The origins of the Fed are pretty shady.
The central bank was conceived during a secret meeting at a private club on Jekyll Island, Georgia. According to an NPR article, Sen. Nelson Aldrich, chairman of the Senate finance committee, organized the clandestine meeting.
“He told a handful of New York bankers to go on a given night, one by one, to a train station in New Jersey. There they would find a private rail car hitched to the back of a southbound train. To conceal their identities, Aldrich told the bankers to come dressed as duck hunters and to address each other only by first name.”
The attendees at this meeting hammered out a blueprint that became the Federal Reserve Act.
The rest is a history of money devaluation and government growth.
THE ENGINE RUNNING THE BIGGEST GOVERNMENT IN HISTORY
The Federal Reserve serves as the engine that makes all of the US government’s borrowing and spending possible. Without the Fed, the entire system would collapse. Ultimately, you can thank the Fed for the massive national debt.
Case in point, in the early days of the COVID-19 lockdowns, the Federal Reserve effectively monetized 100 percent of the new debt taken on by the US government.
Here’s how it worked.
In March and April, the US Treasury Department issued $1.56 trillion in debt securities to fund Uncle Sam’s massive coronavirus spending spree. Meanwhile, in March, the Fed bought $1.2 trillion in Treasury bonds. The central bank slowed its roll a bit in April but still purchased $526 billion in US bonds. That brought the two-month total to $1.56 trillion.
In effect, the Federal Reserve bought all of the debt issued by the US government in March and April with money created out of thin air.
Therein lies the Fed’s true power. It can “print money.”
When we say the central bank “prints money,” we don’t mean it literally runs off dollar bills in the basement of the Eccles Building. Modern money creation is digital. The Fed can simply write a check, even if funds don’t exist in the account, and “poof,” new money appears in the account of whoever receives the check. The Federal Reserve can’t bounce a check. This enables the central bank to expand the money supply at its discretion.
According to the powers-that-be, this is a feature, not a bug. The Fed’s ability to inflate the money supply supposedly creates economic stability.
In reality, it creates government stability.
If the federal government had to rely on tax receipts and debt it could repay to fund all of its unconstitutional wars, foreign aid, and domestic spending, it would be dead in the water. The ability to raise revenue through taxation would naturally limit the government. But with the Fed backstopping the borrowing and monetizing the debt, there are virtually no limits on its spending.
But you still foot the bill via the inflation tax.
As Peter Schiff put it during a 2022 interview, when you talk about families struggling with inflation, they’re really struggling with government.
Inflation is a tax. It’s the way government finances deficit spending. Government spends money. It doesn’t collect enough taxes, so it has to run deficits. The Federal Reserve monetizes those defiticts – prints money. They call it quantitative easing, but that’s inflation. Government is getting bigger and bigger, and families across America are going to have to bear that burden through higher prices.”
The Federal Reserve may well rank as the worst Christmas gift ever. It’s the give that keeps on taking.
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1913, not 1923…
Close enough, most people don’t even know what it is and how it operates anyway.
Bad attitude, bruh.
Aim small. Miss small.
It applies in the classroom as well as the battlefield.
Also 1933 (FDR)
The article is right about how big a scam the Federal Reserve is (and other central banks). They can legally create money out of thin air and then charge interest to loan it to people (or simply give it to themselves or their preferred causes). The extra money causes inflation. Actually, the term “inflation” originally meant that the money supply was inflated, but nowadays “inflation” refers to the price increases that result from the inflated money supply. Because there is more money chasing the same amount of goods and services, the prices of many or most things go up. It is fundamentally the same principle as if everyone simply gave a part of their money (the amount of money equal to the reduction in the purchasing power of their current amount of money) to the Federal Reserve every year, and the Federal Reserve didn’t create any new money. So it is essentially a tax, which is why many Austrian economists refer to inflation as “the inflation tax”.
But regardless of what you call it, it is probably the biggest scam in the history of mankind, because it enables most other scams. That money allows the elite to fund every cause (wars, social engineering programs, etc) that they want to. It was one of the reasons the COVID-19 scamdemic was successful. They created trillions of dollars out of thin air to fund the scamdemic policies. The current increase in prices we are experiencing (which will continue getting worse) is a result of that, and all previous and subsequent money printing. But probably fewer than 1 in 500 people understand what a scam it is, which is why they can get away with it. Most of the sheeple are clueless, and never even wonder where their money comes from, or who gets to create it, or how much they can create, or who gets the new money first, or anything else.
This short and witty one you can share
Great video.
“it is probably the biggest scam in the history of mankind, because it enables most other scams. That money allows the elite to fund every cause (wars, social engineering programs, etc) that they want to.”
You actually describe yourself why it is only a secondary scam.
First you need a general Income Tax (and/or a VAT).
Only with that primary scam in place, after money is forced into use and circulation, can you use the secondary scam of (almost) unlimited Money Printing to fund whatever the politicians want to fund, no matter what the majority of the population thinks about it.
1913 was a really bad year. Don’t forget the income tax and direct election of U.S. Senators amendments.
There’s your coup!
Coup of noodles!
The Democrats were still mostly of the Jefferson-Jackson stripe up until 1910 or so. After failing (three times) to elect W.J. Bryan to the Presidency, the Dem leadership threw in the towel, and agreed to serve the same financial and corporate interests that owned and operated the Republicans.
The Dems still laughably try to present themselves as “the party of the little guy” (particularly if the little guy is a “caring” woman, or is of a visible minority group, homosexual etc. etc….).
It’s almost enough to make you want to vote Republican.
From “Secrets of the Federal Reserve” we see the primary architect was Paul Warburg….
The Aldrich group journeyed there in private to write the banking and currency legislation which the National Monetary Commission had been ordered to prepare in public. At stake was the future control of the money and credit of the United States. If any genuine monetary reform had been prepared and presented to Congress, it would have ended the power of the elitist one world money creators. Jekyll Island ensured that a central bank would be established in the United States which would give these bankers everything they had always wanted.
As the most technically proficient of those present, Paul Warburg was charged with doing most of the drafting of the plan. His work would then be discussed and gone over by the rest of the group…
The main problem, as Paul Warburg informed his colleagues, was to avoid the name “Central Bank”. For that reason, he had decided upon the designation of “Federal Reserve System”. This would deceive the people into thinking it was not a central bank. However, the Jekyll Island plan would be a central bank plan, fulfilling the main functions of a central bank; it would be owned by private individuals who would profit from ownership of shares. As a bank of issue, it would control the nation’s money and credit…
Warburg responded that the administrators of the proposed central banks should be subject to executive approval by the President. This patent removal of the system from Congressional control meant that the Federal Reserve proposal was unconstitutional from its inception, because the Federal Reserve System was to be a bank of issue. Article 1, Sec. 8, Par. 5 of the Constitution expressly charges Congress with “the power to coin money and regulate the value thereof.”. Warburg’s plan would deprive Congress of its sovereignty, and the systems of checks and balances of power set up by Thomas Jefferson in the Constitution would now be destroyed. Administrators of the proposed system would control the nation’s money and credit, and would themselves be approved by the executive department of the government.
And who was Paul Warburg?
https://famguardian.org/PublishedAuthors/Indiv/MullinsEustice/SecretsOfFedReserve/TOC.htm
Warburg… another no neck, big nose who went to church on Saturday.
Read it. I can personally vouch for the author. He’s good people.
“Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive that they had better not speak above their breath when they speak in condemnation of it.”
― Woodrow Wilson
“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
Oh. You mean like the “Covid Revolution”?
He meant the “Color Revolutions.”
Scared to Death as well,
You have some of it but not all.
“Since I entered politics, I have chiefly had men’s views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they better not speak above their breath when they speak in condemnation of it.
They know that America is not a place of which it can be said, as it used to be, that a man may choose his own calling and pursue it just as far as his abilities enable him to pursue it; because to-day, if he enters certain fields, there are organizations which will use means against him that will prevent his building up a business which they do not want to have built up; organizations that will see to it that the ground is cut from under him and the markets shut against him. For if he begins to sell to certain retail dealers, to any retail dealers, the monopoly will refuse to sell to those dealers, and those dealers, afraid, will not buy the new man’s wares.”
THE NEW FREEDOM A CALL FOR THE EMANCIPATION OF THE GENEROUS ENERGIES
OF A PEOPLE BY WOODROW WILSON
NEW YORK AND GARDEN CITY
DOUBLEDAY, PAGE & COMPANY 1913
https://www.gutenberg.org/files/14811/14811-h/14811-h.htm
” You have some of it but not all.”
Thank You Sir!
Roger that buddy!
Wilson’s death bed statement on the subject has been under long going massive and increasing internet attacks…scrubbed and countered…easy to find the truth 30 years ago.
A link in the chain of truth the Banksters are desperate to degrade and cause doubt about with those too young to remember the long unchallenged and accepted truth.
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men”.
Every time I drive over the Woodrow Wilson’s Bridge…I spit out the car window in disgust.
(My wife use to roll her eyes…now she spits too!
The truth will set your saliva free!
Indeed. I observed this behavior in nature as a child. Did you know that a Tomcat will go through a litter of his own offspring and chew the heads off of every male kitten?
Can’t have sexual competition, now, can we?
Long story short, the family got sick of the headless corpses, so Dad held the light while I put a long rifle hollow point in old Tom’s thick skull.
Problem solved.
“He told a handful of (((New York bankers))) to go on a given night, one by one, to a train station in New Jersey. There they would find a private rail car hitched to the back of a southbound train. To conceal their identities, Aldrich told the bankers to come dressed as duck hunters and to address each other only by first name.”
There, fixed it.
Mot only are/were the “new york bankers” of a particular (((group))) shall we say, they were/are still backed nd controlled by (((european banks))) and the “city of London”, most notably rothschild.
John 8:44
“Ye are of your father the devil, and the lusts of your father ye will do. He was a murderer from the beginning, and abode not in the truth, because there is no truth in him. When he speaketh a lie, he speaketh of his own: for he is a liar, and the father of it.”
King James Version (KJV)
It is all about the adrenochrome in Ukraine today and that adrenochrome was obtained from every war the West has been involved in since 1913, when the FED took over the US to the Greada treaty with the Rothschild “aliens”, in the 1950’s all the wars up until Ukraine and now Gaza. All of it and the UN and the WEF and the WHO and every Oligarch who made billions, was all about obtaining adrenochrome for the Rothschilds.
These Rothschild=Reptiles do not want to be paid in currencies they issue and supply to the world from their central banks they demand payment ONLY in their own currency which is adrenochrome.
Yes, the Greada Treaty which has been updated every few years, is all about paying for the technology these fallen angels provide with their own fallen Angel ‘currency’ which is adrenochrome. The big joke is on you.
Guess what the real reason they demand payment with adrenochrome is: to take your souls. The devil is shrewd.
Maybe you all should think about the fact that you can’t accept the honest truth about anything and that is precisely why your world is now in a shambles that it will never recover from.
You have no idea what the mistake of being unable to handle any truth has cost you.
After the warning, sadly, you will all know what I say is the truth.
Many of you will be feeling the flames of Hell for all these wars.
If you want a war, you have to pay for it in Hell, if that war is for the Rothschilds and their ‘cash cow’ for taking souls=israhell.
The Pindar=Rothschild’s real currency is the souls he and his minions have taken from God.
That is why the Rothschilds are very angry at Israel for their bungeling of the Gaza War.
The real problem, is that the truth came out about the cause of this war.
Everyone know that the Gaza war is all about greed, for beachfront property, for the gas reserves for the ben Grunion canal, selfish greed, so the Israelis look exactly like what they are to the world.
How will they take souls for their masters in Hell if they have failed to promote this war as self defense?
Their masters the rulers of Hell, are livid with them.
They have ordered them to something that will turn the world back to seeing them as victims ,and holocaust survivors, and really good religious people, the chosen people.
So expect that.
They may do a bunch more false flags to return to being the darlings of the western world
I expect they will fake an assassination of Netanyahu by some horrible bloodthirsty “Arabs”.
Arabs portrayed to be exactly like what the Israelis have shown us that they truly are, liars, crafty deceivers, greedy, and violent, with no remorse and a total lack of any conscience.
They always pin their own evil onto their victims, so expect that.
They could even nuke their own nation just to blame it in Iran and will most likely just fabricate the entire nuclear blast.
They will most likely go full throttle to make themselves look like victims of whom ever they want to destroy and get the entire West to help them vanquish this made up enemy they will demonized by describing them as being exactly what the Israelis are: psychotic butchers.
They will do it for one reason. They must take souls.
When the West responds and comes to the rescue of Israel, and slaughters their innocent framed up victims they paint with lies as a threatening force of evil against Israel, then the devil will be happy with them.
Not only will the rulers of Hell get the souls of those who come to Israel’s aid from the West, yet again like fools, but their Karma for doing that will make the final destruction that is long overdue to come to the West for their previous foolishness. When they committed unspeakable horror and genocide on defenseless and innocent victims for Israel (in reality for the devil to take your souls) in the Middle East wars set up by Israel’s con job 9-11 to get it done. The West is ruled by morons.
Let the West begin more irrational, needless and senseless wars.
The Hell they are going to very soon at the end of this world in ww3, will just be that much worse.
The innocent martyrs they slaughter for Israel will get to Heaven that much sooner.
Either way I can tell you absolutely the entire Western powers are going to be totally gone, they will vanish in WW3. They have Hell to pay.
They sucked up the devil and killed God’s children for the devil.
They did things so vile and evil that they will never receive any forgiveness from God.
Aliens huh, jana?
Great post Jana and I like the articles you write, the absolute truth
Fun fact: there is a Rothschild Boulevard in Tel Aviv. From Wiki….
Rothschild Boulevard (Hebrew: שְׂדֵרוֹת רוֹטְשִׁילְד, Sderot Rotshild) is one of the principal streets in the center of Tel Aviv, Israel, beginning in Neve Tzedek at its southwestern edge and running north to Habima Theatre. It is one of the most expensive streets in the city, being one of the city’s main tourist attractions.[1] It features a wide, tree-lined central strip with pedestrian and bike lanes.
No, it was completely flattened by Hamas rockets as was all the rest of Tel Aviv.
Oops,
Correction….just in…it was Gaza, that was completely flattened..by IDF bombs.
Mybad
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.”
1923!!!!!!!!!! My gawd, makes me doubt the article has any legitimacy or relevance.