Federal Reserve 101

"The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson." - U.S. President Franklin D. Roosevelt in a letter written Nov. 21, 1933 to Colonel E. Mandell House

H.R. 2755: Federal Reserve Board Abolition Act

Currently Introduced, but is likely to die with the end of the 110th Congress in January 2009.
See also:

106th Congress: H.R. 1148 (Status: Dead)
107th Congress: H.R. 5356 (Status: Dead)
108th Congress: H.R. 2778 (Status: Dead)

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Click and Read!

The 861 Evidence: Code definitions of your taxable income

Below, you will find various videos for those who do not have the time and patience to read, read, read. To the right, you will find various links and sources to further your understanding of this topic.

"Ask, and it will be given to you; seek, and you will find; knock, and it will be opened to you."
Matthew 7:7

I'm not a big fan of this man, but on this, he is spot on. Rod Parsley on Debt, Banking History, and the FED

Fiat Empire: Why the Federal Reserve Violates the Constitution
The full video has been disabled. So, click the link above.

America: Freedom to Fascism Final Director's Cut is available here and at freedomtofascism.com.

WATCH THIS!!!

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Rage Against the Machine!!!
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The Creature from Jekyll Island: A Lecture on the Federal Reserve---"G. Edward Griffin exposes the most blatant scam of all history. It's all here: the cause of wars, boom-bust cycles, inflation, depression, prosperity. It's just exactly what every American needs to know about the power of the central bank."
LISTEN NOW

Eustace Mullins on the Pastor Pete Peterson radio program LISTEN NOW

THE MONOPOLY MEN

The Money Masters Part One
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Money Masters Transcript

The Money Masters

Part 1

Part 2

Part 3

The Monopoly Men

The following link is blocked by Myspace censorship. I'm not a fan of DBS. However, I imagine there is some truth in this timeline, although I haven't had the time to fact check everything myself. Considering Murdoch's minions think it should be blocked, I provide it for your consideration. Just copy and paste the link into your browser and it should work... This link is banned by Myspace. Click it and see their reasoning. The same exact link is below for copy and paste.
History of the House of Rothschild
http://www.iamthewitness.com/DarylBradfordSmith_Rothschild.h tm

"A Nation Against Itself Will Not Stand" The Girdwood Guru (PDF DOCUMENT)While lecturing in many countries, and appearing on radio and television programs as a guest, Eustace Mullins, author of Secrets of The Federal Reserve: The London Connection , is frequently asked questions about the Federal Reserve System. The most frequently asked questions and the answers are as follows:

The above link is to a Free Book that can be read and/or downloaded in Word and ZIP formats. Here is another source, without downloads.

On Amazon.com, this book can go for over $100. Don't believe it? See for yourself. It is free at the links above!

Q: What is the Federal Reserve System?

A: The Federal Reserve System is not Federal; it has no reserves; and it is not a system, but rather, a criminal syndicate. It is the product of criminal syndicalist activity of an international consortium of dynastic families comprising what the author terms "The World Order" (see "THE WORLD ORDER" and "THE CURSE OF CANAAN", both by Eustace Mullins). The Federal Reserve system is a central bank operating in the United States. Although the student will find no such definition of a central bank in the textbooks of any university, the author has defined a central bank as follows: It is the dominant financial power of the country which harbors it. It is entirely private-owned, although it seeks to give the appearance of a governmental institution. It has the right to print and issue money, the traditional prerogative of monarchs. It is set up to provide financing for wars. It functions as a money monopoly having total power over all the money and credit of the people.

The following is a Q&A with
Congressman McFadden
on the Federal Reserve Corporation
Remarks in Congress, 1934
AN ASTOUNDING EXPOSURE
http://home.hiwaay.net/~becraft/mcfadden.html

It can easily be argued that Congressman was assassinated. There were two attempts on his life (a shooting and a near poisoning) before he died from heart failure.

Q: When Congress passed the Federal Reserve Act on December 23, 1913, did the Congressmen know that they were creating a central bank?
A: The members of the 63rd Congress had no knowledge of a central bank or of its monopolistic operations. Many of those who voted for the bill were duped; others were bribed; others were intimidated. The preface to the Federal Reserve Act reads "An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial papers, to establish a more effective supervision of banking in the United States, and for other purposes." The unspecified "other purposes" were to give international conspirators a monopoly of all the money and credit of the people of the United States; to finance World War I through this new central bank, to place American workers at the mercy of the Federal Reserve system’s collection agency, the Internal Revenue Service, and to allow the monopolists to seize the assets of their competitors and put them out of business.

Q: Is the Federal Reserve system a government agency?
A: Even the present chairman of the House Banking Committee claims that the Federal Reserve is a government agency, and that it is not privately owned. The fact is that the government has never owned a single share of Federal Reserve Bank stock. This charade stems from the fact that the President of the United States appoints the Governors of the Federal Reserve Board, who are then confirmed by the Senate. The secret author of the Act, banker Paul Warburg, a representative of the Rothschild bank, coined the name "Federal" from thin air for the Act, which he wrote to achieve two of his pet aspirations, an "elastic currency", read (rubber check), and to facilitate trading in acceptances, international trade credits. Warburg was founder and president of the International Acceptance Corporation, and made billions in profits by trading in this commercial paper. Sec. 7 of the Federal Reserve Act provides "Federal reserve banks, including the capital and surplus therein, and income derived therefrom, shall be exempt from Federal, state and local taxation, except taxes on real estate." Government buildings do not pay real estate tax.

Q: Are our dollar bills, which carry the label "Federal Reserve notes" government money?
A: Federal Reserve notes are actually promissory notes, promises to pay, rather than what we traditionally consider money. They are interest bearing notes issued against interest bearing government bonds, paper issued with nothing but paper backing, which is known as fiat money, because it has only the fiat of the issuer to guarantee these notes. The Federal Reserve Act authorizes the issuance of these notes "for the purposes of making advances to Federal reserve banks... The said notes shall be obligations of the United States. They shall be redeemed in gold on demand at the Treasury Department of the United States in the District of Columbia." Tourists visiting the Bureau of Printing and Engraving on the Mall in Washington, D.C. view the printing of Federal Reserve notes at this governmental agency on contract from the Federal Reserve System for the nominal sum of .00260 each in units of 1,000, at the same price regardless of the denomination. These notes, printed for a private bank, then become liabilities and obligations of the United States government and are added to our present $4 trillion debt. The government had no debt when the Federal Reserve Act was passed in 1913.

Q: Who owns the stock of the Federal Reserve Banks?
A: The dynastic families of the ruling World Order, internationalists who are loyal to no race, religion, or nation. They are families such as the Rothschilds, the Warburgs, the Schiffs, the Rockefellers, the Harrimans, the Morgans and others known as the elite, or "the big rich".

Q: Can I buy this stock?
A: No. The Federal Reserve Act stipulates that the stock of the Federal Reserve Banks cannot be bought or sold on any stock exchange. It is passed on by inheritance as the fortune of the "big rich". Almost half of the owners of Federal Reserve Bank stock are not Americans.

Q: Is the Internal Revenue Service a governmental agency?
A: Although listed as part of the Treasury Department, the IRS is actually a private collection agency for the Federal Reserve System. It originated as the Black Hand in medieval Italy, collectors of debt by force and extortion for the ruling Italian mob families. All personal income taxes collected by the IRS are required by law to be deposited in the nearest Federal Reserve Bank, under Sec. 15 of the Federal Reserve Act, "The moneys held in the general fund of the Treasury may be ....deposited in Federal reserve banks, which banks, when required by the Secretary of the Treasury, shall act as fiscal agents of the United States."

Q: Does the Federal Reserve Board control the daily price and quantity of money?
A: The Federal Reserve Board of Governors, meeting in private as the Federal Open Market Committee with presidents of the Federal Reserve Banks, controls all economic activity throughout the United States by issuing orders to buy government bonds on the open market, creating money out of nothing and causing inflationary pressure, or, conversely, by selling government bonds on the open market and extinguishing debt, creating deflationary pressure and causing the stock market to drop.

Q: Can Congress abolish the Federal Reserve System?
A: The last provision of the Federal Reserve Act of 1913, Sec. 30, states, "The right to amend, alter or repeal this Act is expressly reserved." This language means that Congress can at any time move to abolish the Federal Reserve System, or buy back the stock and make it part of the Treasury Department, or to altar the System as it sees fit. It has never done so.

Q: Are there many critics of the Federal Reserve beside yourself?
A: When I began my researches in 1948, the Fed was only thirty-four years old. It was never mentioned in the press. Today the Fed is discussed openly in the news section and the financial pages. There are bills in Congress to have the Fed audited by the Government Accounting Office. Because of my expose, it is no longer a sacred cow, although the Big Three candidates for President in 1992, Bush, Clinton and Perot, joined in a unanimous chorus during the debates that they were pledged not to touch the Fed.

Q: Have you suffered any personal consequences because of your expose of the Fed?
A: I was fired from the staff of the Library of Congress after I published this expose in 1952, the only person ever discharged from the staff for political reasons. When I sued, the court refused to hear the case. The entire German edition of this book was burned in 1955, the only book burned in Europe since the Second World War. I have endured continuous harassment by government agencies, as detailed in my books "A WRIT FOR MARTYRS" and "MY LIFE IN CHRIST". My family also suffered harassment. When I spoke recently in Wembley Arena in London, the press denounced me as "a sinister lunatic".

Q: Does the press always support the Fed?
A: There have been some encouraging defections in recent months. A front page story in the Wall Street Journal, Feb. 8, 1993, stated, "The current Fed structure is difficult to justify in a democracy. It’s an oddly undemocratic institution. Its organization is so dated that there is only one Reserve bank west of the Rockies, and two in Missouri...Having a central bank with a monopoly over the issuance of the currency in a democratic society is a very difficult balancing act."