Collected Quotes of Famous Men on the Financial System
"If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations." - ANDREW JACKSON, U.S. President
"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 master and become the servant of humanity." - ABRAHAM LINCOLN, U.S. President
"Issue of currency should be lodged with the government and be protected from domination by Wall Street. We are opposed to ... provisions [which] would place our currency and credit system in private hands." - THEODORE ROOSEVELT, U.S. President
Despite these warnings, Woodrow Wilson signed the 1913 Federal Reserve Act. A few years later he wrote: "I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." - WOODROW WILSON, U.S. President
"The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government ever since the days of Andrew Jackson ... " - FRANKLIN D. ROOSEVELT, U.S. President (in a letter to Colonel House, Presidential Advisor, dated November 21, 1933)
LORD ACTON: "The issue which has swept down the Centuries, and must be fought - sooner or later - is the people versus the banks ... Power tends to corrupt, and absolute power corrupts absolutely."
Former U.S. Navy Secretary JOHN LEHMAN: "Power corrupts. Absolute power is kind of neat." [Why would those who have absolute power want to give it up?]
"Let me issue and control a nation's money and I care not who makes its Laws." MAYER ANSELM ROTHSCHILD, Founder of the Rothschild dynasty of bankers, also referred to by the business magazine Forbes as 7th on its list of "The Twenty Most Influential Businessmen Of All Time" and a "founding father of international finance".
"Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back." - SIR JOSIAH STAMP, former Director, Bank of England
"Can anything be more absurd than that a nation should apply to an individual (Rothschild) to maintain its credit, and with its credit its existence as an empire, and its comfort as a people ... " BENJAMIN DISRAELI, Prime Minister, Great Britain
"All wars are economic in their origin". - BERNARD BARUCH, U.S. Statesman, before the Nye Committee, September 13, 1937
"Misunderstandings about money have been and continue to be intentional. They derive neither from the nature of money nor from any stupidity of the public ... the International Usurocracy aims at preserving intact the public's ignorance of the Usurocratic System and its workings ... " EZRA POUND, author and economic theorist
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - HENRY FORD, Founder of the Ford Motor Company
"Henry Ford thinks it's stupid and so do I, that for the loan of (its) own money ... the United States should be compelled to pay ... interest. People who will not turn a shovel of dirt nor contribute a pound of material will collect more money from the United States than all the people who supply all the material and do all the work ... why must we pay interest to money-brokers for the use of our own money?" - THOMAS A. EDISON, inventor, re. Congress borrowing from the Federal Reserve
"The banks - commercial banks and [privately owned] Federal Reserve - create all the money of this nation, and the nation and its people pay interest on every dollar of that newly created money. Which means that private banks exercise unconstitutionally, immorally, and ridiculously the power to tax the people. For every newly created dollar dilutes to some extent the value of every other dollar already in circulation." - JERRY VOORHIS, U.S. Congressman, CA-D., 1946
"No one has the right to be a moneylender save him who has it to lend." - THOMAS JEFFERSON, U.S. President
PATMAN, U.S. Congressman: "Mr. Eccles, how do you get the money to buy those two billions of government securities?" ECCLES, Chairman of the Federal Reserve: "We created it." PATMAN: "Out of what?" ECCLES: "Out of our right to issue credit money." - HOUSE BANKING AND CURRENCY COMMITTEE HEARING, 1941
"When a bank makes a loan it simply adds to the borrower's deposit account in the bank ... The money is not taken from anyone else's deposit; it was not previously paid into the bank by anyone. It's new money, created by the bank for the use of the borrower." - SECRETARY OF THE U.S. TREASURY ANDERSON, U.S. News & World Report, August 31, 1959
"In purchasing offerings of Government bonds the banking system as a whole creates new money, or bank deposits. When the banks buy a billion dollars of Government bonds as they are offered ... the banks credit the deposit account of the Treasury with a billion dollars. They debit their Government bond account a billion dollars, or they actually create, by a bookkeeping entry, a billion dollars." - MARRINER ECCLES, Chairman of the Board of Governors, Federal Reserve, 1935
"The government should create, issue and circulate all currency and credit needed to satisfy the spending power of Government and the buying power of consumers. The privilege of creating and issuing money is the supreme prerogative of Government ... " - ABRAHAM LINCOLN (one of the several US Presidents who were assassinated, notably after taking issue with the issuance of money by the bankers vs. by the people)
"Some people think Federal Reserve Banks are United States government institutions. They are not Government institutions. They are private credit monopolies which prey upon the people of the United States for the benefits of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders. In that dark crew of financial pirates there are those who would cut a man's throat to get a dollar out of his pocket; there are those who send money into states to buy votes to control our legislation; and there are those that maintain an international propaganda for deceiving us ... that will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime ... " (10 June 1932) - U.S. Congressman LOUIS T. MCFADDEN
"Our money system is nothing better than a confidence trick ... The "money power" which has been able to overshadow ostensibly responsible government is not the power of the merely ultra-rich but is nothing more or less than a new technique to destroy money by adding and withdrawing figures in bank ledgers, without the slightest concern for the interests of the community or the real role money ought to perform therein ... to allow it to become a source of revenue to private issuer's is to create, first, a secret and illicit arm of government and, last, a rival power strong enough to ultimately overthrow all other forms of government." - Dr. FRED SODDY, Nobel Prize Winner (Chemistry), in his book Wealth, Virtual Wealth & Debt
"This [Federal Reserve] Act establishes the most gigantic trust on earth. When the President signs this bill the invisible government by the Monetary Power will be legalized ... the worst legislative crime of the ages is perpetrated by this banking and currency bill. The caucus and party bosses have again operated and prevented the people from getting the benefit of their own government." - CHARLES LINDBERGH, Sr., U.S. Congressman
U.S. President ANDREW JACKSON wrote: "The bold effort the present bank had made to control the government, the distress it had wantonly produced ... are but premonitions of the fate that awaits the American people should they be deluded into a perpetuation of this institution or the establishment of another like it."
THOMAS JEFFERSON, U.S. President, wrote: "The Central Bank is an institution of the most deadly hostility existing against the principles and form of our Constitution."
FELIX FRANKFURTER, Justice of the U.S. Supreme Court (1939-1962), said: "The real rulers in Washington are invisible and exercise power from behind the scenes."
U.S. Congressman LOUIS MCFADDEN, House Committee on Banking and Currency Chairman (1920-31), stated: "When the Federal Reserve Act was passed, the people of these United States did not perceive that a world banking system was being set up here. A super-state controlled by international bankers and industrialists ... acting together to enslave the world ... Every effort has been made by the Fed to conceal its powers but the truth is - the Fed has usurped the government."
"A power has risen up in the government greater than the people themselves, consisting of many and various powerful interest, combined in one mass; and held together by the cohesive power of the vast surplus in banks." - JOHN C. CALHOUN, 7th Vice President of the U.S.
"Whoever controls the volume of money in any country is absolute master of all industry and commerce." - JAMES A. GARFIELD, U.S. President
"Money power denounces, as public enemies, all who question
its methods or throw light upon its crimes." - WM. JENNINGS BRYAN, U.S.
Secretary of State under President Woodrow Wilson