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The Sad Story Of The Privately Owned Federal Reserve Bank


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.”  PRESIDENT ABRAHAM LINCOLN – 1866

“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:

  1. Rockefellers’ National City Bank = 30,000 shares
  2. Chase National = 6,000 shares (currently Chase Manhattan and owned by David Rockefeller)
  3. The National Bank of Commerce = 21,000 shares (now known as Morgan Guaranty Trust)
  4. 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  

  1. Rothchild Banks of London and Berlin
  2. Lazard Brothers Bank of Paris
  3. Israel Moses Sieff Banks of Italy
  4. Warburg Bank of Hamburg, Germany and Amsterdam
  5. Kuhn Loeb Bank of New York
  6. Lehman Brothers Bank of New York
  7. Goldman Sachs Bank of New York
  8. 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.

  1. The Rothchilds
  2. Lazard Freres (Eugene Mayer)
  3. Israel Sieff
  4. Kuhn Loeb Company
  5. Warburg Company
  6. Lehman Brothers
  7. Goldman Sachs
  8. 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 :

  1. 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.
  2. 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!!
  3. 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.
  4. 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 ownedFederal 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
“…..it 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 airto 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 falselybelieve 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!


SEE Chart of who “owns” the Federal Reserve 


SEE Fractional Reserve Banking is a Tontine Policy 

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