"Paper money eventually returns to its intrinsic value ---- zero."
PRESIDENT JAMES A. GARFIELD
"Whoever controls the volume of money in any country is absolute master of all industry and commerce."
"While boasting of our noble deeds, we are careful to control the ugly fact that by an iniquitous money system, we have nationalized a system of oppression which, though more refined, is not less cruel than the old system of chattel slavery."
SIR. REGINALD MCKENNA, former President of the Midland Bank of England
"Those who create and issue money and credit direct the policies of government and hold in the hollow of their hands the destiny of the people."
SIR JOSIAH STAMP, (President of the Bank of England in the 1920's, the second richest man in Britain)
"Banking was conceived in iniquity, and was born in sin. The Bankers own the Earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen, they will create enough deposits, to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a happier and better world to live in. But if you wish to remain the slaves of Bankers, and pay the cost of your own slavery, let them continue to create deposits."
ROTHSCHILDS BROS. OF LONDON
"Those few who can understand the system (check book money and credit) will either be so interested in its profits, or so dependent on it favors, that there will be little opposition from that class, while on the other hand, the great body of people mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear it burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests."
"Give me the power to issue a nation's money; then I do not care who makes the law."
PRESIDENT WOODROW WILSON
"A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the Nation 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 world--no longer a government of free opinion, no longer a government of conviction, and vote of the majority, but a government by the opinion and duress, of small groups of dominant men." Just before President Woodrow Wilson died, he is reported to have stated to friends that he had been "deceived" and that "I have betrayed my Country". referring to the Federal Reserve Act, passed during his Presidency.
"Paper money polluted the equity of our laws, turned them into engines of oppression, corrupted the justice of our public administration, destroyed the fortunes of thousands who had confidence in it, enervated the trade, husbandry, and manufactures of our country, and went far to destroy the morality of our people."
"The bank hath benefit of interest on all moneys which it creates out of nothing."
POPE PIUS XI
"In the first place, then, it is patent that in our days, not wealth alone is accumulated, but immense power and despotic economic domination are concentrated in the hands of the few, who for the most part are not the owners but only the trustees and directors of invested funds, which they administer at their own good pleasure…This domination is most powerfully exercised by those who, because they hold and control money, also govern credit and determine its allotment, for that reason supplying so to speak, the life blood of the entire economic body, and grasping in their hands, as it were, the very soul of production, so that no one can breathe against their will…"
"Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess."
MAJOR L. L. B. ANGUS
"The modern banking system manufactures money out of nothing. The process is, perhaps, the most, astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint, and un-mint the modern ledger-entry currency".
RALPH M. HAWTREY, (Former Secretary of the British Treasury)
"Banks lend by creating credit. They create the means of payment, out of nothing."
ROBERT H. HEMPHILL (Credit Manager of Federal Reserve Bank, Atlanta, Georgia)
"This is a staggering thought. We are completely dependent, on the Commercial Banks. Someone has to borrow every dollar; we have in circulation, cash or credit. If the Banks create ample synthetic money, we are prosperous; if not, we starve. We are, absolutely, without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity, of our hopeless position, is almost incredible, but there it is. It is the most, important subject; intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse, unless it becomes widely understood, and the defects remedied very soon."
CONGRESSMAN LOUIS T. McFADDEN and former Chairman of the Committee on Banking and Currency.
" . . . We have in this Country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. . . . This evil institution has impoverished and ruined the people of the United States. . . . Some people think the Federal Reserve Banks are United States Government institutions. They are private credit monopolies, which, prey upon the people of the United States for the Benefit of themselves and their foreign customers. ..." "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". "Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the Fed. The Fed has cheated the Government of the United States and the people of the United States out of enough money to pay the Nation's debt.... The wealth of these United States and the working capital have been taken away from them and has either been locked in the vaults of certain banks and the great corporations or exported to foreign countries for the benefit of foreign customers of these banks and corporations. So far as the people of the United States are concerned, the cupboard is bare." "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."