The Federal Reserve’s Great Depression
Let’s start with Fed Governor Ben Bernanke’s burst of reality:
— “Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.”
Bernanke spoke that truth at the Conference to Honor Milton Friedman, University of Chicago, Chicago, Illinois, (2002-11-08). Milton Friedman and Anna Schwartz a authored, A Monetary History of the United States, 1867-1960 (published in 1971).
A little doublespeak there, Ben. He spoke truth about the Fed causing the Great Depression, then gave us the howler, “We’re very sorry” followed by the hurricane-force howler, “…we won’t do it again.”
Ben Shalom Bernanke went on to serve two terms as Chair of the Federal Reserve, from 2006 to 2014. During his tenure as chair, Bernanke oversaw the Federal Reserve's response to the late-2000s financial crisis.
Inflating monstrous bubbles (such as stock market, real estate…) with their money from nothing and your debt for real, at low interest rates—then raising interest rates and popping the bubbles…that's just what they do. Well, right now we have record-breaking bubbles, and the Fed is bent on popping them. So why would they be repeating what Bernanke said they would never do again? The answer lies in:
Leaked documents and defector testimony reveals the feds zeal over how many thousands of banks and farms they hoped to acquire for pennies on the dollar…. The Great Depression was a coup by the financial elite to seize more wealth for themselves at the expense of the working class—one of humanity’s more hideous refrains. Please note that before their coup of ‘29, these elite controlled only a majority of banks in the Northeast; afterward they dominated American capital from coast to coast.
The Great Depression might have been Great for the Fed; for the country they have infected for 105 years, it was a worst of living nightmares. And they’ve been working on the sequel since that last financial crisis.
They will do it again and again until they are abolished…prosperity of generation after generation smothered.
We should have paid attention to Louis McFadden:
— “The Federal Reserve (banks) are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this Nation is run by the International Bankers.”
— “Some people think the Federal Reserve Banks are the United States government’s institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers” (Congressional Record 12595-12603 — Louis T. McFadden, Chairman of the Committee on Banking and Currency June 10, 1932).
— “The financial system has been turned over to the Federal Reserve Board. That Board ministers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money.” (Charles A. Lindbergh Sr., 1923)
Prominent Americans have long pointed out that the Fed is a private banking cartel designed to systematically destroy the dollar, drain wealth of the American public and crush the federal government with debt.”
Perhaps the essential problem is how few Americans understand the origin and purpose of those FEDERAL RESERVE NOTES we call dollars.
A dominant way to bank dollars from thin air is the Fed’s entitlement.
For a transparent, truthful way to understand basically how it works:
To circulate another billion dollars of fiat currency, our government does not print debt-free U.S. Treasury Notes, as mandated in the Constitution. Instead, a billion dollars of debt (Treasury bonds) are given to the Fed, who then creates from nothing a billion dollars in Federal Reserve Notes and loans them to the government at compound interest. Whether it’s currency, or digits on a computer screen, by creating money this way, the amount of debt created is always more than the dollars created, leaving no way for the debt to ever be paid off.
And, by auctioning its (free) Treasury bonds through “Open Market Operations”, the Fed helps spread U.S. debt around the world.
Entitlements are one thing; the Fed’s exclusive dollar monopoly seems satanic. Could there be a greater entitlement than ownership of the dollar with accountability to no one?
Former Fed Chairman Alan Greenspan tells some truth about accountability:
“First of all, the Federal Reserve is an independent agency, and that means basically that, there is no other agency of government which can overrule actions that we take.” (1)
True—except the “agency of government” part. The Fed is a private, for-profit corporation ultimately owned by eight elite banking families:
1. Rothschild’s of London and Berlin
2. Lazard Brothers of Paris
3. Israel Moses Seaf of Italy
4. Kuhn, Loeb & Co. of Germany and New York
5. Warburg & Company of Hamburg, Germany
6. Lehman Brothers of New York
7. Goldman, Sachs of New York
8. Rockefeller Brothers of New York
Greenspan’s use of “agency of government” is simply more window dressing floating the illusion that our government has some kind of control over the Fed; same as Chairman and Board of Governors being appointed by the President and Congress. Illusory.
The only control over the Fed is exercised by it’s owners. Hard to imagine a greater enemy of American prosperity than the Fed, and it's ultimate controllers.
The most dangerous thing any POTUS could do is threaten the Fed’s entitlement, as history confirms via assassinated Presidents Lincoln, Garfield, McKinley, Kennedy—they all attacked that Rosthschild central bank entitlement.
For deeply related information, please see the recent article: Trump Enters the Assassination Zone.
(1) “Alan Greenspan Interview,” USA We the People, 5 March 2009.
Rand Clifford specializes in Truth. Contact: firstname.lastname@example.org
Phi Beta Iota: The Federal Reserve and Wall Street did indeed create the Great Depression, with the active complicity of President FD Roosevelt, with three objectives: to crush the growing middle class demanding political power; to buy up the USA as depression-era prices; and to consolidate ownership of the Federal Government. All of this is documented by Wayne Jett in his book The Fruits of Graft. It merits comment that the CIA was a creation of Wall Street, and has always been Wall Street's “mole” within the US Government.
Review: Griftopia–Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America
Review: The Devil’s Chessboard – Allen Dulles, the CIA, and the Rise of America’s Secret Government
Ellen Brown @ Phi Beta Iota
Federal Reserve @ Phi Beta Iota