Excerpts from 1930's Congress Banking and Currency Committee Chairman Speeches. Many parts read like today's news.
Submitted by MikeLawson on Mon, 04/06/2009 - 21:55
"Mr Chairman, when the Fed was passed, the people of these United States did not perceive that a world system was being set up here which would make the savings of the American school teacher available to a narcotic-drug vendor in Acapulco. They did not perceive that these United States was to be lowered to the position of a coolie country which has nothing but raw material and heart, that Russia was destined to supply the man power and that this country was to supply the financial power to an "international superstate". A superstate controlled by international bankers, and international industrialists acting together to enslave the world for their own pleasure?
"The people of these United States are being greatly wronged. They have been driven from their employments. They have been dispossessed from their homes. They have been evicted from their rented quarters. They have lost their children. They have been left to suffer and die for lack of shelter, food, clothing and medicine.
"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 the foreign customers of these banks and corporations. So far as the people of the United States are concerned, the cupboard is bare.
"It is true that the warehouses and coal yards and grain elevators are full, but these are padlocked, and the great banks and corporations hold the keys.
"The sack of these United States by the Fed is the greatest crime in history.
"Mr. Chairman, a serious situation confronts the House of Representatives today. We are trustees of the people and the rights of the people are being taken away from them. Through the Fed the people are losing the rights guaranteed to them by the Constitution. Their property has been taken from them without due process of law. Mr. Chairman, common decency requires us to examine the public accounts of the Government and see what crimes against the public welfare have been committed.
"What is needed here is a return to the Constitution of these United States.
"The old struggle that was fought out here in Jackson's time must be fought our over again. The independent United States Treasury should be reestablished and the Government should keep its own money under lock and key in the building the people provided for that purpose.
"Asset currency, the devise of the swindler, should be done away with. The Fed should be abolished and the State boundaries should be respected. Bank reserves should be kept within the boundaries of the States whose people own them, and this reserve money of the people should be protected so that the International Bankers and acceptance bankers and discount dealers cannot draw it away from them.
"The Fed should be repealed, and the Fed Banks, having violated their charters, should be liquidated immediately. Faithless Government officials who have violated their oaths of office should be impeached and brought to trial.
"Unless this is done by us, I predict, that the American people, outraged, pillaged, insulted and betrayed as they are in their own land, will rise in their wrath, and will sweep the money changers out of the temple.
"Mr. Chairman, the United States is bankrupt: It has been bankrupted by the corrupt and dishonest Fed. It has repudiated its debts to its own citizens. Its chief foreign creditor is Great Britain, and a British bailiff has been at the White House and the British Agents are in the United States Treasury making inventory arranging terms of liquidations!
Read the rest here: http://home.hiwaay.net/~becraft/mcfadden.html
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Asset currency, the devise
Asset currency, the devise of the swindler, should be done away with... - good words.
Writing a speech
Thanks for the post!
Glad I finally found the time to read this. So many incredible quotes to be found here. My two favorites: his description of the Fed as "the worm-eaten monarchical institution of the "King's Bank'" which "control[s] us from the top downward, and from the cradle to the grave," and "I do not like to see vivisections performed on human beings. I do not like to see the American people used for experimental purposes by the credit masters of the United States. They predicted among themselves that they would be able to produce a condition here in which American citizens would be completely humbled and left starving and penniless in the streets."
Makes me feel real comfy with the federal reserve notes in my wallet.
Thank you for taking the time to find this and to post such an illuminating piece of history.
Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny.
Thomas Jefferson
Malo periculosam libertatem quam quietam servitutem. ("I prefer the tumult of liberty to the quiet of servitude"). Thomas Jefferson to James Madison, 30 January 1787.
A lot of great quotes
It is filled with great quotes and reading like today's news. I hope everyone takes the time to read and send on.
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
heres a quick link to more McFadden speeches
http://www.uhuh.com/worthy/mcfad.htm
If you go to the link and read down to the bottom ...
... you find out what happened to McFadden ... they killed him! There were two unsuccessful attempts but the third one took.
Thanks
I've already sent a link to a CPA friend ... hope he opens his eyes. He thinks we are just living through a Wall Street greed fest, pure and simple.
Charges against him
Of being a nazi sympathizer and anti-semite?
Political correctness was almost non-existent back then, I'm sure some of his quotes can be misconstrued to be anti-semetic....
Others also agree: this just appeared.
New York Times
Tuesday, April 7, 2009
Bank Analyst Sees Depression-Size Loan Losses
April 6, 2009, 11:34 am
Mike Mayo is back, and the prominent banking analyst sounds more bearish than ever.
Mr. Mayo, who recently left his job covering bank stocks for Deutsche Bank to join a unit of Calyon, initiated coverage of 11 large banks in the United States on Monday, and his first report at his new firm assigns all of them “underperform” or “sell” ratings.
The report was full of gloomy predictions, not least of which was this one: Mr. Mayo projects that loan losses in the current financial crisis will eventually exceed the levels experienced during the Great Depression.
In 1934, loan losses as a percentage of total loans outstanding reached a peak of 3.4 percent.
During this downturn, Mr. Mayo suggests that loan losses could rise from the current level of nearly 2 percent of the total $7 trillion in loans to 3.5 percent by the end of 2010. (Under a more stressful scenario, he estimates it could even hit 5.5 percent.) The reasons, he says, include “ongoing problems in mortgage and an acceleration in cards, consumer credit, construction, commercial real estate and industrial” loans.
Continued:
http://dealbook.blogs.nytimes.com/2009/04/06/bank-analyst-se...
Great words from a great man...
-Alas, they are few and far between.----- Thanks Mike, for the post!
Libera me, let the truth break, what my fears make--Leslie Phillips
There is no God who condones taking the life of an innocent human being. (but I want you to pay for it, like it or not!) --Barack Obama at the National Prayer Breakfast
Libera-me,...Let the truth break what my fears make.
Libera-me,.. from this dark dream to the lifestream!
Leslie (AKA Sam) Phillips
what a gem*)
what a great find Mike!
I would make a digg for it but for some reason I can't access digg on this computer.
"The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government -- lest it come to dominate our lives and interests."
-- Patrick Henry
___________________
Jake Towne "Fire Cake" Money Bomb February 15
http://www.dailypaul.com/node/122445
Donate = Freedom*))
Yeah, I love this guy...
He's in our "Hall of Heros" over at http://www.educatorsofliberty.com/index.php?hoh_id=3
Neat link
What a great website. A wealth of information.
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Thanks!
I wrote that site. :o)
Wow, Thanks Mike:
I have learned so much true history from the good folks here at DP.
More so than I ever learned during my academic endeavors. This has been passed on to as many people as I can. Thanks again Mike.
~~~~~~~~~~~~~~~~~~~~~~~~~~
I love my country
I am appalled by my government
~~~~~~~~~~~~~~~~~~~~~~~~~~
I love my country
I am appalled by my government
Yippee
It's on the front page. And I dug a little more. Seems that McFadden felt we were being run by international Jewish bankers. Hmmm, Bernanke, Greenspan, Emmanuel. Let's see what's missing. I couldn't call it being antisemitic to say it like it is.
The money we were sending to Germany while looting Americans went into Hitler's arsenal to build up his army. McFadden railed against that so how could he be pro Hitler? It is just another smear campaign.
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Couldn't have said it better
It is like arguing with a rock. "...a modicum of inflation..."? "...prefer a 'whiff' of inflation..."? A "whiff"? Trillions printed out of nowhere constitutes a "whiff"? We are definitely in a parallel universe, folks. Wow.
Nice grab buddy.
I reserve the right to govern myself.
I reserve the right to govern myself.
Good find, Mike.
Thanks for the post. What do we do now, other than pray for strength to survive?
That's a good question
I have sent this link out to everyone I knew. They can't call us crackpots after they read this stuff. The more informed the masses are, the more power they have. This stuff should be sent to all heads of Tea Party Committees. Knowledge is power.
Thanks for the find, Mike. EVERYONE should read this. Maybe you need to change the title to get better viewing.
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Title's changed
Now I believe it should be on the front page. Come on, you guys, this is a useful piece of history that the sheeple will understand. It reads like today's news. I just can't believe it. He even talks about introducing a bill to audit the Fed. Where have we heard that today?
Read it and pay it forward, guys.
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
I believe we may know someone else familiar with McFadden
;)
Yes!
So it would behoove anyone on this website who claims to support this cause, to learn from one of the masters. He is obviously a mentor of Ron Paul and his words should become something we quote more than what the founding father's quoted. I mean it, people, these speeches are just echos of what we are hearing now in Congress. Unbelievable. History continues repeating itself if we never learn from it. Learn from it.
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Unfortunately, McFadden was also kind of an anti-semite
There's always a damn rub!
Oh!
That is so too bad. I wonder if it had something to do with zionism, rather than actually being anti Jewish. Whatever, they will use it against him. I am so sorry about that but he was sure spot on here.
One of the things he keeps railing against is how all of our gold and money is going to Germany. That was in the early 30s that they were funneling our money to Germany. Makes you wonder.
After surfing around I don't buy it. I don't see anything in this except hear say and smears. He had a quote "Christianity instead of Judaism" according to one person. So what? Until the 60s no one in this country would dare elect someone Jewish or Catholic, for that matter. Do you have actual proof he was an antisemite? They claim he was a Nazi. No way. He hated that fact we were sending money to Germany.
It is the same kind of lies they spewed with Dr. Paul. I would love to know where they get their "facts."
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
I should have said he's been percieved as an anti-semite
I have never really seen anything to back it up either. It' probably just a good easy way to keep people from talking about him. The Germany thing really had me wondering too. We're talking JUST prior to Hitler here.
This is spooky
Louis McFadden is from Pennsylvania. Quote introducing the article "As Representative of a State which was among the first to declare its freedom from foreign money tyrants it is fitting that Pennsylvania, the cradle of liberty, be again given the credit for producing a son that was not afraid to hurl defiance in the face of the money-bund."
Ron Paul is from Pennsylvania. Deja vu.
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
That is a striking Providence!
------
Libera me, let the truth break, what my fears make--Leslie Phillips
There is no God who condones taking the life of an innocent human being. (but I want you to pay for it, like it or not!) --Barack Obama at the National Prayer Breakfast
Libera-me,...Let the truth break what my fears make.
Libera-me,.. from this dark dream to the lifestream!
Leslie (AKA Sam) Phillips
Also,
http://www.rumormillnews.com/cgi-bin/archive.cgi?read=44772
Does anyone know more about the circumstances of McFadden's death? He was only 60 years old. I know that was a lot older then than it is now but still?
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
Planned? Perhaps...Possible?
Planned? Perhaps...Possible? Highly Doubtful.
http://www.1776solution.blogspot.com
“There is danger from all men. The only maxim of a free government ought to be to trust no man living with power to endanger the public liberty.”-Adams
http://www.1776solution.blogspot.com
“MEN DO NOT WILLINGLY READ UNPALATABLE TRUTHS OF THEMSELVES. THE PEOPLE LIKE THOSE BEST WHO FOOL THEM MOST BY PANDERING TO THEIR VICES AND FLATTERING THEIR FOIBLES”—ADMIRAL RAPHAEL SEMMES.
This is from 1933
Louis T McFadden. Read it, it's rather interesting.