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What The Federal Reserve Is
A friend posted this on Facebook and I thought it was too good and valuable not to be seen elsewhere on the Web as well. Awesome stuff an a great overall look at the Federal Reserve and what it's powers are.
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by Jon Klingler on Sunday, January 24, 2010 at 9:17pm
The Federal Reserve System is, contrary to popular belief, not a branch of the United States Federal Government, and in the case of The Federal Reserve, the name itself is even deceptive. Just as the word federal is misleading, so is the word reserve. In reality, there are no monetary reserves at The Federal Reserve. There is nothing backing up the value of the dollar. The name for the organization was concocted in secret several years before The Federal Reserve Act was passed in 1913. It was designed to fool the public into believing that The Federal Reserve was working in the best interest of the American people. The Federal Reserve, just like every other corporation, is owned by private stockholders, and is operated purely for profit. U.S. Courts have continuously ruled that The Federal Reserve is a private corporation. (Still) One such ruling in 1982 was Lewis v. the United States, which came to the conclusion that Federal Reserve Banks are “independent, privately owned and locally controlled corporations”. (Global Research)
If you take a look back into recent history you will find that the Bank of England was the world’s first privately owned central banking system. The Bank of England was also deceptively named in order to fool the British people into thinking it was a government institution. The early American colonists hated the Bank of England and wanted nothing to do with it. Benjamin Franklin claimed that the real cause of the American Revolution was the unfair taxes which were placed on the American colonies due to the Bank of England running up the British national debt. (Still) Thomas Jefferson said, “The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution… If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.” (Jefferson)
The blueprint for The Federal Reserve System was drawn up behind closed doors, at a secret meeting, in a hotel conference room on Jekyll Island, in November of 1910. (Griffin 23) When these men arrived in Brunswick, Georgia by train, Senator Aldrich was asked by reporters who his guests were and what was going on. Aldrich simply fabricated a story about how he and some of his personal friends were going to go duck hunting. This lie seemed to satisfy the reporters, and that was the story which ended up in the newspapers. At the hotel where the meeting was taking place, the attendees only called each other by their first names, and an entirely new, hand-picked hotel staff was used during the week the men were meeting together to further ensure their anonymity. (Griffin 8) The entire reason for the secrecy was because these men knew that if the American people and Congress knew what was going on, then The Federal Reserve Act would never be permitted to be passed. The list of men that were in attendance at this covert gathering at Jekyll Island was: Senator Nelson W. Aldrich, who was the father-in-law to John D. Rockefeller, Henry P. Davison, Charles D. Norton, A. Piatt Andrew, Frank A. Vanderlip, Benjamin Strong, and Paul M. Warburg who was there on behalf of the Rothchilds and Warburgs from Europe. (Griffin 24) During this week long meeting they laid out the structure for The Federal Reserve from the ground up. In 1911, this plan went before the National Monetary Commission for review. A lot of money was spent on hyping the prospect of The Federal Reserve in the newspapers. In 1913, when the amended bill went before Congress, it was passed to the detriment of the American economy and the American people. (Paul, End the Fed 23) Since its passage in 1913, The Federal Reserve Act has been amended around 200 times. The original Congressmen and Senators, who voted it into existence, would hardly recognize it anymore. (Griffin 472)
In economist Milton Friedman’s book, A Monetary History of the United States, Friedman discusses why The Federal Reserve was responsible for leading the United States, and the world, into the Great Depression. PBS interviewed Friedman in October of 2000. Friedman explained how the first few years of the Great Depression were actually only a recession. During this time The Federal Reserve adhered to procedures that reduced the amount of currency in circulation by one third, hence causing the collapse of one third of the nation’s banks, and wiping out the savings of the average family. Friedman claims that The Federal Reserve knew what they were doing and were advised to reverse this action, but did not. The result was years of deep economic depression. Ben Bernanke, the current Chairman of The Federal Reserve, spoke at Friedman’s 90th birthday party in 2002, at the University of Chicago. Near the end of his speech, Bernanke said, regarding the Great Depression, “You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again”. (Kupelian) This is one promise which Bernanke may not be able to keep.
Six years after signing The Federal Reserve Act into existence, Woodrow Wilson regretfully said, “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are 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.” (Wilson)
The Federal Reserve prints money out of thin air, and loans it to third world countries, and then the American tax payers get stuck with the bill by means of taxes and inflation. The Federal Reserve knows that there is no possible way for these lesser developed counties to pay back these loans, but they could care less. The Federal Reserve gets the interest, and the average American citizen get the shaft. Every dollar they print causes more inflation, which in turn drives down the value of the dollar. Eventually, more developed countries like the United States will become broke, and will soon be willing to give up their sovereignty for international financial support. This is not a coincidence; it is all by design. The International Monetary Fund (IMF) and the World Bank grow stronger, and this is leading the way to a World Central Bank with a global currency. (Griffin 132)
The Federal Reserve also manipulates interest rates. When you pump more money into the financial system this causes artificially low interest rates. This is very harmful to the economy. The free market, along with a sound currency will naturally bring down the interest rates. (Paul, End the Fed 133)
Before the end of President George W. Bush’s second term, he started the ball rolling on a $700 billion dollar bailout. President Obama more than doubled that soon after he took office. Not to mention the new budget will create nearly $10 trillion dollars in new debt for the tax payers, their children, and their grandchildren to be burdened with. (Paul, End the Fed 139) How can we bail out companies like AIG and GM, not to mention all these banks, without going bankrupt ourselves as a nation? The dollar has already lost ninety-five percent of its value; are we shooting for one hundred percent in the next few years? George Washington, during his farewell speech in 1796, had this to say about debt, “As a very important source of strength and security, cherish public credit. One method of preserving it is, to use it as sparingly as possible; avoiding occasions of expense by cultivating peace, but remembering also that timely disbursements to prepare for danger frequently prevent much greater disbursements to repel it; avoiding likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertions in time of peace to discharge the debts, which unavoidable wars may have occasioned, not ungenerously throwing upon posterity the burthen, which we ourselves ought to bear.” (Washington) Either Bernanke doesn’t understand monetary policy, which I highly doubt is the case, or he and the rest of The Federal Reserve Board have a completely separate agenda than they are leading us believe.
Most people have heard that war is good for the economy, but this couldn’t be further from the truth. Wartime is an extremely lucrative time for The Federal Reserve though. They print money out of thin air to give to governments for war expenditures, governments turn around and buy weapons from contractors like Halliburton. This printing of money in turn causes inflation to soar. The Federal Reserve lent out nearly $10 billion dollars during WWI. This caused deflation of the dollar by nearly half, so not only did the American people lose fifty percent of their purchasing power, but they also had to pay taxes on top of that. This same procedure of creating money out of thin air, and lending it out has been repeated numerous times throughout The Federal Reserve’s near century long reign. (Griffin 258, 259)
Former President, George H. W. Bush, on September 11th, 1990, which was ironically enough, exactly eleven years to the day before the tragic events of September 11th, 2001, was one of the first people to publicly utter the words New World Order, in a speech given before a joint session of the U. S. Congress. (Wikipedia) Up until recently, people who spoke of a world government or the new world order were considered tin foil hat wearing conspiracy theorists. Now plans for a new world order, a world government, and especially a global monetary system are in the news on a regular basis. Paul Warburg, one of the men that were at the Jekyll Island meeting in 1910, while addressing the Senate in 1950 said, "We shall have world government, whether or not we like it. The only question is whether world government will be achieved by conquest or consent." (Russo)
These world bankers, though unelected, actually control the governments of the world through financial manipulation. In USA Today, Robert Reich said, “The dirty little secret is that both Houses of Congress are irrelevant. America's domestic policy is now being run by Alan Greenspan and The Federal Reserve… America's foreign policy is now being run by the International Monetary Fund [IMF]. When the President decides to go to war, he no longer needs a declaration of war from congress.” (Russo) Is this why Congress has not officially declared war since World War II?
The so called free trade agreements like NAFTA and GAT have nothing to do with free trade. They are nothing more than a further push towards the new world order by international bankers and their puppet governments. Treaties like these are giving the world bankers more and more control over the countries of the world. These bankers are arrogant at the very least. Megalomania is a word that comes to mind. As Sir Josiah Stamp, the former Director of The Bank of England put it, "The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough money to buy it back again. However, take away from them the power to create money, and all the great fortunes like mine will disappear and they ought to disappear, for this world would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money." (Russo)
H. R. 1207 was introduced by Congressman Ron Paul (R - TX) on February 26, 2009, (Paul, Audit the Federal Reserve: HR 1207 and S 604) but this is not the first time an ‘audit the fed’ bill has been introduced by Congressman Paul. It is the first time, however, that it has gained any momentum in the house. Congressman Paul starting introducing this bill in 1983 and every following year thereafter, and until now it never even won a committee hearing. (Eddlem) H. R. 1207 is a bill that was introduced to have a full congressional audit of The Federal Reserve, and S. 604 is the identical bill for the Senate. As of October 26th, 2009, H. R. 1207 had 307 co-sponsors, and the bill in the Senate has 30 co-sponsors. Transparency is the goal. The American people have every right to know what is going on with the nation's currency, especially since it is the American people who foot the bill. (Paul, Audit the Federal Reserve: HR 1207 and S 604)
Ben Bernanke claims that if H.R. 1207 was passed, Congress would have the authority to manipulate the course of monetary policy. The bill has no such provisions, and this is merely a scare tactic on the part of The Federal Reserve. People in support of The Federal Reserve also claim that by keeping the inner workings of The Federal Reserve secret, in turn protects the American people. Another false claim is that the passage of this bill would raise interest rates. This is a ridicules claim; again, there is no provision in the bill that deals with how monetary policy is managed, so it’s impossible for the bill to, in any way, raise interest rates. (Paul, Audit the Federal Reserve: HR 1207 and S 604)
A large majority of the American people back and support the bill to audit The Federal Reserve. The ones opposed to it are the ones with the most to lose, Wall Street and The Federal Reserve Board itself. Since The Federal Reserve was established in 1913, the value of the dollar has plummeted over the years, and today is worth about a nickel. Something needs to be done, and a full audit of The Federal Reserve it a great place to start. Ending The Federal Reserve should be the ultimate goal, and if The Federal Reserve is audited, there will be a very good chance of that happening shortly thereafter. (Paul, Audit the Federal Reserve: HR 1207 and S 604)
The Federal Reserve is noticeably scared. H. R. 1207 gained so much support in the House due to grassroots efforts from people calling and writing their Congressmen, and people protesting in the streets. In order to block the efforts of this bill, additional legislation is being introduced, which also calls for an audit of The Federal Reserve, but a much weaker version. It leaves out crucial areas of the activity of The Federal Reserve, and it leaves out names of banks and people who have been part of transactions that should be audited. Neither the American people, nor Congress, should accept any other form of this bill. There needs to be a scrupulous audit of The Federal Reserve. (tmartin)
Henry Ford said, "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." (Russo) Now there are noticeable signs that the people are finally waking up to this cycle of corruption and deceit. November 22nd has come to be known as, ‘National End the Fed Day’, and on this day in 2008, large groups of people, fed up with the gargantuan bailouts, protested across thirty-nine cities throughout the United States. The theme of the protests was to bring an end to The Federal Reserve System, bring back sound money, and end the wasteful bailouts. One of the organizers of the protests, Debbie Krueger said, “The Federal Reserve is monopolizing our money system and I know people that are working at three jobs and still can’t make ends meet. It’s just sad and disgusting that we don’t have the same quality of life that we used to have. The way that they are using the money is a disgrace, all the foreign wars that they are fighting for no reason are based on lies, and the Federal Reserve is based on lies.” (Russia Today) More ‘End the Fed’ rallies are planned for November 22nd, 2009 in major cities all across America again. (End The Fed Network) I didn’t make it last year, but I am planning to be among those protesting this Sunday, at the Federal Reserve building in Cleveland, Ohio.
In my opinion, auditing, and subsequently seeing an end to The Federal Reserve System, is the only hope we have left of seeing our once great nation rise up out of the ashes of never ending debt. This cartel of foreign bankers has taken control of the United States for far too long, and these criminal banksters must be stopped. The people of the United States need to rise up together and take a stand against tyranny and corporate fascism. The biggest problem is, with the amount of wealth that they have, much of which was stolen from the citizens of the United States, they also have so much power over people, including Congressmen and Senators, and even Presidents and other world leaders.
Some people have theorized that the assassination of John F. Kennedy was carried out by elements within The Federal Reserve, because he was trying to put an end to their system of lies and corruption. On June 4th, 1963 John F. Kennedy signed Executive Order 11110 into law, which allowed the U.S. Treasury Department to print its own money based on silver. This would lead the way for the end of The Federal Reserve, because the notes they print are not backed by anything. Unfortunately, five months later, John F. Kennedy was assassinated, and as a consequence, no more silver certificates were issued, even though Executive Order 11110 has never been repealed by any succeeding president. (X) One can only imagine what the United States would be like today if it wasn’t for this horrible tragedy. In his speech on April 27, 1961, John F. Kennedy had the following to say about secrecy, “The very word "secrecy" is repugnant in a free and open society; and we are as a people inherently and historically opposed to secret societies, to secret oaths and to secret proceedings.” (Kennedy) I believe that when Kennedy spoke these words he was indirectly speaking about The Federal Reserve and its secrecy as well. Let us today, take the words of Kennedy, and make this audit of The Federal Reserve a reality. Let us bring their works of darkness, into the light, for the entire world to see.
Bibliography
America: Freedom to Fascism. Dir. Aaron Russo. Perf. Aaron Russo. 2006.
Eddlem, Thomas R. "Constitutional Candidates for Congress." 12 11 2009. New American. 17 11 2009 <http:>.
End The Fed Network. "Events." 2009. End The Fed Network. 10 11 2009 <http:>.
Global Research. "The Federal Reserve is a Private Financial Institution." 02 04 2008. globalresearch.ca. 16 11 2009 <http:>.
Griffin, G. Edward. The Creature from Jekyll Island: A Second Look at the Federal Reserve. Westlake Village, California: American Media, 2002.
Jefferson, Thomas. "Quote by Thomas Jefferson." 2009. goodreads.com. 09 11 2009 <http:>.
Kennedy, John F. "The President and the Press: Address before the American Newspaper Publishers Association ." 27 04 1961. jfklibrary.org. 13 11 2009 <http:>.
Kupelian, David. "Bernanke: Federal Reserve caused Great Depression." 19 03 2008. World Net Daily. 31 10 2009 <http:>.
Paul, Ron. "Audit the Federal Reserve: HR 1207 and S 604." 26 10 2009. RonPaul.com. 10 11 2009 <http:></http:>.
—. End the Fed. New York, NY: Grand Central Publishing, 2009.
Russia Today. "Angry Americans protest against U.S. monetary policy." 23 11 2008. RussiaToday.com. 10 11 2009 <http:>.
The Money Masters. Dir. Bill Still. 1995.
tmartin. "Watered Down “Audit” Bill Threatens Ron Paul’s Efforts to Audit the Federal Reserve." 23 10 2009. RonPaul.com. 10 11 2009 <http:></http:>.
Washington, George. "QUOTES ON NATIONAL DEBT." 2009. notable-quotes.com. 10 11 2009 <http:>.
Wikipedia. "New World Order (conspiracy theory)." 16 11 2009. Wikipedia. 16 11 2009 <http:>.
Wilson, Woodrow. ""I am a most unhappy man." - Woodrow Wilson." 2006. benrasmusen.com. 10 11 2009 <http:></http:>.
X, Cedric. "President John F.Kennedy, The Federal Reserve And Executive Order 11110 ." 17 01 1996. john-f-kennedy.net. 16 11 2009 <http:>.
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If you deal with tons of nodes and want to clean up old, unused, unpublished nodes after a while, here's one way to do it. I did it via coding in my own Drupal module. However you could also use the Auto Expire module. The problem I had with this is that I couldn't find a way to actually delete the nodes.
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I started with a menu item in hook_menu. The code below lets you access the script via a page at /delete:
$items['delete'] = array(
'title' => t('Delete Vehicles'),
'page callback' => 'delete_old_nodes',
'access arguments' => array('access_content'),
'type' => MENU_CALLBACK,
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