10 votes

NY Times: The Federal Reserve’s Framers Would Be Shocked

ONE hundred years ago today, President Woodrow Wilson went before Congress and demanded that it “act now” to create the Federal Reserve System. His proposal set off a fierce debate. One of the plan’s most strident critics, Representative Charles A. Lindbergh Sr., the father of the aviator, predicted that the Federal Reserve Act would establish “the most gigantic trust on earth,” and that the Fed would become an economic dictator or, as he put it, an “invisible government by the money power.”

Had the congressman witnessed Ben S. Bernanke’s news conference last week, he surely would have felt vindicated. Investors, traders and ordinary citizens listened with rapt attention as Mr. Bernanke, the Fed chairman, spoke of his timetable for scaling down stimulative bond purchases. “If things are worse, we will do more,” he said of the nation’s economy. “If things are better, we will do less.”


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SteveMT's picture

"A radical is one who speaks the truth." - Charles A Lindbergh

Agree with comment below that Lindbergh was the Ron Paul of his time.

Deposit banking should be subject to bailment law

Problem solved.

See Rothbard - The Case Against the FED - available for free at Mises.org

F-u-c-k-ing Joke Journalism

The "framers" were criminals and patsies of criminals.

Lindbergh was the Ron Paul in this instance clearly predicting the FED/IRS Complex's enslavement of America

Not Bad

Good article until the very end. I'm not sure what he was trying to say there but not bad in general.



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Surprised to see this in the

Surprised to see this in the NYT...

The human race divides politically into those who want people to be controlled and those who have no such desire. - Heinlein



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