Notable People's Thoughts on the Federal Reserve System

[Art]

Wow you really got me there.
What in the bloody hell are you talking about? Supply side economics has no relevance to this discussion at all. We are discussing the structure of the money and banking system of the US. The important point i was trying to make was that the FED adjusts supplies of money in response to changes in the economy, not the other way around.

I know what you are saying and I'm saying you're wrong. Supply side economic theory is based on the principle that GDP growth can be stimulated by putting more money into the economy; and who controls the money supply? - The fed. Even if you look only at demand for money as you seem to wish to; who controls demand for money by adjusting interest rates? - The fed.

 

[EngineeredVision]

Slavery?... Yes!

Thus far, it seems that Art is the only one here who has read my attachment so I thought I would cite a section of my paper that illustrated the intentions of international banking institutions and their advocates to establish a modern-day invisible feudalistic society among the civilized world. As quoted in Dr. Carroll Quigley’s (Professor at Georgetown University) book Tragedy and Hope, he stated, “…the powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences.”

It would seem like such a statement could easily be dismissed as the ravings of a paranoid opponent to a world economy, but strangely, Dr. Quigley is actually a supporter of the New World Order movement being advocated by international banking interests. Carroll Quigley is basically a supporter of elitists views and has had close contact with many members of the banking community and the Council on Foreign Relations for years.

Debt through inflation and unpayable interest is a new type of slavery that is invisible to most of society because it doesn’t immediately threaten individuals physically, mentally, or emotionally, but works on much more subtle levels over a longer period of time that can span several generations. As already mentioned, we may be able to choose our professions and choose where we live, but if our property is constantly depreciating and the ability to repay our debt is nonexistent forcing us to continue the vicious cycle of borrowing with interest from those who actually own and manage the economy and credit system then we are subject to a financial slavery. True, this is not slavery as society would classically consider it, but it is still a system that oppresses almost all of society.

If anyone is still interested in reading my summary covering the history of fractional reserve banking and the Federal Reserve it can be found on page four in this thread under one of my posts.

 

[Jonny_trigonometry]

well put EV.

 

[Burnsys]

Ev, that is a great paper, it has no waste...

a quote from it:

Regarding the issue of a secure currency Lincoln stated, “No duty is more imperative on the Government than the duty it owes the people to furnish them with a sound and uniform currency, and of regulating the circulation of the medium of exchanges so that labor will be protected from a vicious currency, and commerce will be facilitated by cheap and safe exchanges.” Lincoln also addressed the issue with the statement, “The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be the master and become the servant of humanity.” Lincoln realized that if the government ever allowed the issuance of a private currency and control of the credit system that the nation would be manipulated by self-interests profiteering groups. For Abraham Lincoln, the issue of a fair and just currency was even more important than the war. In a letter to William Elkin after the passage of the National Banking Act He distressed, “I see in the near future a crisis approaching. It unnerves me and causes me to tremble for the safety of my country…the Money Power of the country will endeavor to prolong its reign by working upon the prejudices of the people, until the wealth is aggregated in a few hands and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war.”