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Phred42 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-23-08 10:37 AM
Original message
The abuses of the Federal Reserve System
I am not a Ron Paul Fan. But even a broken Clock it correct twice a day.

If we are going to FIX the destruction that the Federal Reserve has inflicted on this country,
we HAVE to learn about it AND DISCUSS IT!

~~~~~~~~~~~~~~~

The abuses of the Federal Reserve System
Louis T. McFadden (1876-1936): An American Hero
http://www.globalresearch.ca/index.php?context=va&aid=9...

by Richard C. Cook

Few recall, however, how controversial the Fed was when it was first proposed and then maneuvered through a recessing Congress just before Christmas 1913. Rep. Charles Lindbergh, Sr., R-MN and father of the future aviator, called the Federal Reserve Act the worst legislative crime of the ages.

But the strongest opposition came later, during the Great Depression. The source was Rep. Louis T. McFadden, a Republican representative from Pennsylvania who, as a former bank cashier and president, knew the financial system intimately.


McFadden was born in Granville Center , Bradford County , Pennsylvania , on July 25, 1876, just three weeks after the nation celebrated its centennial at the Philadelphia Exposition. He graduated from Warners Commercial College in Elmira , New York , and went to work at the First National Bank of Canton , PA , in 1892.


McFadden was elected to Congress in 1920 and served until 1934. Though a Republican, he moved to impeach President Herbert Hoover in 1932 and introduced a resolution to bring conspiracy charges against the Board of Governors of the Federal Reserve.


He also made a 25-minute speech on the House floor accusing the Federal Reserve of deliberately causing the Depression. At the time, the chairman of the Federal Reserve Board was Eugene Meyer, who resigned after Frankin D. Roosevelt was inaugurated as president in 1933 and purchased the Washington Post at a bankruptcy auction.
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Locrian Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-23-08 10:42 AM
Response to Original message
1. some links for you...
"THE MONEY MASTERS is a 3 1/2 hour non-fiction, historical documentary that traces the origins of the political power structure. The modern political power structure has its roots in the hidden manipulation and accumulation of gold and other forms of money. The development of fractional reserve banking practices in the 17th century brought to a cunning sophistication the secret techniques initially used by goldsmiths fraudulently to accumulate wealth. With the formation of the privately-owned Bank of England in 1694, the yoke of economic slavery to a privately-owned "central" bank was first forced upon the backs of an entire nation, not removed but only made heavier with the passing of the three centuries to our day. Nation after nation has fallen prey to this cabal of international central bankers.

http://www.themoneymasters.com /

http://www.moneyasdebt.net /

http://video.google.com/videoplay?docid=-15831545619048...

http://video.google.com/videoplay?docid=-90504743625834...
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Phred42 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-23-08 10:49 AM
Response to Reply #1
2. Tx - I've seen them
Edited on Wed Jul-23-08 10:50 AM by Phred42
I've also had the DU Mods delete my posts when I've tried to share those and other info like this.

They seem to be deathly afraid of much discussion about the Banking system or the Fed.

We'll see how long this lasts
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hfojvt Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-23-08 11:05 AM
Response to Original message
3. oooh the Federal Reserve
blame them for the Great Depression. A banker who wants banks to be unregulated is a hero? The problem with the Federal Reserve in the Depression, according to John Kenneth Galbraith, is that they acted like bankers, and tightened credit, instead of acting like a central bank and loosening it.
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Hydra Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-23-08 11:12 AM
Response to Original message
4. IBTL
The Fed and our economic system are forbidden issues in most places.

Even though my posts do little in DU, I told someone IRL how the system works a few years ago, and that person told me the other day that they understood how this "credit crisis" worked now!

God, I love progress!
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Phred42 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-23-08 11:48 AM
Response to Reply #4
5. Congrats - That's one
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