PIML 96050203 / Forwarded to Patriot Information Mailing List:





Date: Wed, 1 May 1996 16:18:11 -0600

From: comminc@fortnet.org (Committee to Restore the Constitution)

Subject: Why America is Bankrupt



WHY AMERICA IS BANKRUPT



"I believe that banking institutions are more dangerous to our liberties

than standing armies.  Already they have raised up a money aristocracy that

has set the government at defiance.  The issuing power should be taken from

the banks and restored to the government to whom it properly belongs."

                                                           THOMAS JEFFERSON



In the present climate of economic emergency it appears that the greatest

stumbling block to acceptance of necessary data for financial survival, and

the conclusions which must be reached by the individual, is the feeling of

`unreality' which the truth holds for the very people who seek it.



Impending economic/political disaster is permitted its fantastic rate of

growth through no other factor as much as incrudulity masked as apathy.

The resulting inaction of the people is a powerful propellant to nihilistic

doctrine.



Knowledgeable response to crisis is, of course, more difficult than

protest.  But, protest alone will not defend your family, your money and

your property against confiscatory stratagems of the money aristocracy.  A

vital first requirement for financial survival is identification of the men

and the system who direct the course of the Republic to oblivion and her

people to an Orwellian twilight zone.



Now you can have the key to unlock the mystery of the secret government of

monetary power and learn how to defend your money and property against a

predatory government.



Extract from testimony by Col. Roberts, Committee to Restore the

Constitution, before House of Representatives, Wisconsin State Legislature

and full gallery of supportive citizens, 14 December 1971.  Public hearing

held in consonance with provisions of Assembly Joint Resolution #34.

****************************************************************************

WHY AMERICA IS BANKRUPT



A significant portion of the American public is yet to become aware of the

"Invisible Government of Monetary Power", although this knowledge is common

in Europe.  Americans still believe that they are working toward a better

way of life.  Surreptitously, however, social customs and forms of

administration in the United States are being carefully and gradually

modified.  The change from one type of culture to another is thus

accomplished without arousing serious public challenge.



The stark truth is that America is now passing from a constitutional

republic into a totalitarian, world wide government.  World dominion is the

ages old dream of the mattoids who have mastered the science of control

over people.



Their success in the United States is directly related to two central issues:



One - transfer of money control from the people into the hands of an

international banking combine, and



Two - creation of a complex and confusing judicial system designed to

frustrate justice.



The remainder of this presentation will be concerned with the first

principle - money, and those who control it.



In 1913 the money aristocracy effected a major advance toward their

long-range goal of world dominion.  They duped the United States Congress

into adopting the Federal Reserve Act.  This coup resulted in the transfer

of the power to coin and regulate US money from the Congress to their

private banking combine, the Federal Reserve System.



Since passage of the Federal Reserve Act, the American destiny and the

personal life of every citizen has been controlled by a financial elite

whose sick-brained policies have spawned depression, war and revolution.



The existence of an "Invisible Government of Monetary Power" was

dramatically confirmed in 1933 by the late Louis T. McFadden, Chairman,

Banking and Currency Committee, United States Congress, who said:  "Every

effort has been made by the Fed to conceal its powers but the truth is -

the Fed has usurped the government.  It controls everything here (in

Congress) and it controls all our foreign relations.  It makes and breaks

governments at will."



Representative John R. Rarick, denouncing President Nixon's plan for

deficit spending ("Deficit Financing", Congressional Record, February 1,

1971) also revealed the dominant position held by the Federal Reserve

System over the American economy.



"He," (President Nixon) said Mr. Rarick, "has asked the independent Federal

Reserve System to come up with enough new money to reach a projected

increase in the GNP by $88 billion in order to achieve his `objective of

prosperity without inflation'."



"The Federal Reserve," Congressman Rarick pointed out, "is not an agency of

Government.  It is a private banking monopoly."



"As I have said many times before," Rarick declared, "the policies of the

monarch are always those of his creditors."



Gentlemen, the safety of the State and the peace and security of Wisconsin

citizens now urgently require an investigation of the vast powers claimed

by the Federal Reserve System.



The first consideration should be a public examination of the authority

which the Federal Reserve System says established its legal status as a

Government agency.  Such authority is quoted in a statement submitted to

Congressman Wright Patman, House Banking and Currency Committee, by the

Board of Governors, Federal Reserve System and Federal Reserve Banks, dated

April 14, 1952.



"The 12 Federal Reserve Banks," said the Federal Reserve Board, "are

corporations set up by Federal law to operate for public purposes under

government supervision."



The Board further advised Mr. Patman that, "The Board of Governors was

created by Congress and is a part of the Government of the United States.

Its members," they said assuringly, "are appointed by the President, with

the advice and consent of the Senate, and it (the Fed) has been held by the

Attorney General to be a Government establishment (30

Op.Atty.Gen.,308,1914)."



Retorting to these impressive claims to "legality" and "public service"

Congressman Patman stated:  "There is no free market that can cope with a

national debt of $272 billion (1952), with $85 billion of it to be refunded

within one year.  Free market," he said, "means private manipulation of

(private) credit."



Private manipulation of PUBLIC credit is, of course, the purpose and

objective of the Federal Reserve System.  This international banking

cartel, as will be shown, manages the credit of the United States for the

profit and advantage of its foreign and domestic members.  In so doing the

Federal Reserve exploits the entire producing strata of the American

society for the gain of a select, non-producing few.



"The Federal Reserve Board, to my mind," continued Mr Patman, "is guilty of

the grossest kind of misconduct in failing to support the Government of the

United States at a time of its greatest economic peril in Government

securities."



Congressman Patman then revealed the contradiction in the spurious Federal

Reserve claim of "Government agency" status and explained how the Fed

generates illegitimate profits for its members.



"The Open Market Committee of the Federal Reserve System," he said, "is

composed of the 7 members of the Board of Governors and 5 members who are

presidents of the Federal Reserve banks and who are selected by private

commercial banking interests.  The Open Market Committee has the power to

obtain, and does obtain, the printed money of the United States - Federal

Reserve Notes - (free) from the Bureau of Engraving and Printing, and

exchanges these printed notes, which of course are not interest bearing,

for United States government obligations that are interest bearing.  After

making the exchange," Patman explained, "the interest bearing obligations

are retained by the 12 Federal Reserve banks and the interest collected

annually on these government obligations goes into the funds of the 12

Federal Reserve banks."



Exploding the myth that the Federal Reserve System is an instrumentality of

the Federal Government, Mr Patman declared: "These funds (interest from

Government obligations) are expended by the (Federal Reserve) system

without an adequate accounting to the Congress.  In fact, there has never

been an independent audit of either the 12 banks or the Federal Reserve

Board that has been filed with the Congress where a Member (of Congress)

would have an opportunity to inspect it.  The General Accounting Office,"

he states, "does not have jurisdiction over the Federal Reserve.  For 40

years (1952) the system, while freely using the money (credit) of the

Government, has not made a proper accounting."



Governor W.P.G. Harding of the Federal Reserve Board, in testimony before

Congress in 1921, admitted that the Fed is a private banking monopoly.

"The Federal Reserve Bank is an institution owned by the stockholding

member banks," he said. "The Government has not a dollar's worth of stock

in it."



The Government does, however, give the Federal Reserve System free use of

its billions of dollars of credit.  This gives the Federal Reserve the

characteristic of a central bank; the power to issue currency on the

Government's credit.



Americans do not have Federal Government notes or gold certificates as

currency.  We have Federal Reserve Bank notes, fiat money issued by private

banks.  Every dollar the Federal Reserve System prints is a dollar in their

pocket.



The compatible meshing of the Federal Reserve System with a network of

international banking was explained by Mr. W. Randolph Burgess of the New

York Federal Reserve Bank in an address before the Academy of Political

Science in 1930.  "In its major principles of operation the Federal Reserve

System is no different," he told Congress, "from other banks of issue, such

as the Bank of England, the Bank of France, or the Reichsbank."



It is obvious that when control of money is transferred from the People to

private banking centers, as is the case in Europe and America, the

sovereignty of the People is surrendered, too.  Control of wealth confers

upon those who control it the final decision in the domestic and

international affairs of nations.  When the financial aristocracy usurp the

"coin of the realm", the People are disfranchised and real political

authority passes into the hands of an "Invisible Government of Monetary

Power".

****************************************************************************



From, THE MOST SECRET SCIENCE, by Archibald E. Roberts, LtCol, AUS, ret.

200 pages (8 1/2 X 11) quality softcover: $12.00

Library of Congress card #84-70100 ..... ISBN: 0-943-120-08-0



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