The Paradox of Solution by Martin Armstrong
Submitted by Lysa on Fri, 04/30/2010 - 00:02
His latest paper produced after (much effort) he was released from the "hole" at Fort Dix. This one is only seven pages, but quite a read. Jim Sinclair put it up on his site and he said of it "of course he is correct."
I am not here very much anymore, but I still love you all and read so much on this site. Lysa
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5 stars
nice to see this on the front page -
Thanks Lysa.
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"How can we justify to the unemployed and underemployed in the United States the incredible cost of maintaining a global empire?" - Dr. Ron Paul
It makes sense, except the part about the original Fed
Martin contends that the FED originally was set up as a decentralized organization that had no power over the money supply. True, the FED was set up with 12 districts, but doing so was merely a way to get the bill passed. Power over the FED was always supposed to come from New York and Washington. At the time, the public was very concerned about the money, power, and influence that was coalescing with the "money trusts" primarily located in New York. These very same banks that the public feared actually were under attack from regional banks throughout the country. The big banks were losing control of the economy, so the drafted the Federal reserve bill so that they could create anti-competitive banking laws that would favor the big banks. The decentralized structure of the Fed was simply a marketing ploy; only nominal power was ever given to the branches outside of New York. The big banks wrote the Federal Reserve Act and then very publicly lobbied against it. With the big backs publicly against the act, it was sure to pass and eventually did.
True, at it's inception, the Fed's power was watered down compared to today, but that again was purposely done so that passage of the act would be easier. The intent was always to increase the Fed's ability to influence national economic policy in favor of big banks, and those banks knew knew that as long as the Federal Reserve Act was passed, they would be able to amend the act as much as they needed. The Federal Reserve Act, in fact, has been amended over 200 times by laws of Congress.
Here's a quote from the Federal Reserve Act's sponsor, Nelson Aldrich, in 1914, one year after the Fed Act was passed: "Before the passage of this act, the New York bankers could only dominate the reserves of the New York banks. Now we are able to dominate the bank reserves of the entire country." I think that pretty much says it all with regards to what the original intent of the Federal Reserve was.
1908? Watered Down? Passed? I Rise to the Point of Order.
*** Study of the Fed Reserve Act and Actors ***
They took over money laws, rules, regulations and foist upon us "Federal Reserve Notes."
Believe much of your account per Congressional Record and authoritative evidence found by Eustace Mullins, US Fed Historian (1923 - 2010). Even the NY Times agrees with much of what you write. Some points of clarification follow.
*** "Watered Down." Suspect balderdash. *** NY Times mentions rumor of "revised," but, I'll stick with balderdash. Many senators on record questioning and bewildered by whether or not anything changed. Few read this rag of a bill.
It is doubtful that "watered down" describes anything about the Fed Res Act. They overthrew the.... But, I digress....
Vreeland version, from the US House was simply renamed the Aldrich version for the Senate.... But, I digress....
*** Passage? I Doubt... ***
They did it in the middle the night, Dec. 23, 1913 during Christmas recess. They claimed the register was left open. Presumably, Sen Aldrich, as sponsor, attended their very small secret overthr.... But, again.... How many? Two? Three? Who knows? Not recorded.
*** NY Times Reports Rumors ***
1908 NY Times Article, Archive discussed the two Congressmen central in the scheme to create the Fed Reserve Act.
VREELAND SEES ALDRICH.; Rumored That Congressman Will Accept Senator's Revised Currency Bill.
Special to The New York Times.
May 17, 1908, Sunday--- From the NY Times Archive
http://query.nytimes.com/gst/abstract.html?res=FA0F13FB3F5A1...
There is debate as to whether or not the same bill was voted or passed either House or Senate.
Happy hunting. It was a messy affair. I write this reflecting on history. Very poorly documented Official US Government History.
Mark Twain and Halley's Comet (1835 - 1910)
Mark Twain Posts 1835-1910-To-be-continued...
Daily Paul ☑ Ron Paul, 2012 ☑
Sen. Nelson Aldrich
married into the Rockefeller family. He was the Rockefellers' man in the senate, who assisted the Federal Reserve Act into passing.
A later Rockefeller was named after him, Senator Nelson Aldrich Rockefeller from NY.
Martin Armstrong should be
Martin Armstrong should be read by everyone. He has delivered powerful truth while being incarcerated by the Wall Street/DC financial mafia. Read and learn, his writing is a gift to the cause of humanity. Thanks for posting this Lysa.
he is the only one I have
he is the only one I have seen who understands the inflation/deflation debate. He is calling for gold of 5000.00 or more.
“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul
Hi Lysa, havn't seen you in
Hi Lysa,
havn't seen you in a while. thanks for the post. Armstrong is 100% dead right. Jim Sinclair has been right on too. DON'T BE A STRANGER!
“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul