Page 15 - Michael Journal March 2020

cised the sovereign power of issuing our money? It is a Central Bank, the bankers’ bank.
Because when that power is held and exercised by What is the real purpose of the Federal Reserve
private individuals, they can and do control the entire (Central) Banks?
economic, social and governmental system and de- To permit a few private individuals to dictate to
rive enormous, illicit profits therefrom. the local banks when they may increase the volume
Under our present private money-creating sys- of money in existence, or when they must cut down
tem, what do the bankers get for nothing? the volume by increasing or decreasing their reserves.
They get interest on the money they create and Why are the Federal Reserve bankers all powerful?
lend, and title to people’s properties by confiscation Because they can force the local (member) banks
of properties pledged, if the loans are not repaid at a to call their loans and cancel money out of existence,
specific time. thereby bankrupting businessmen in every city and
Can Congress delegate a power, reserved to it by State. They have the power to decide which business-
the Constitution as a public function, to be operated men’s loans are acceptable by the Federal Reserve
for private profit without specifications? Bank, and can also dictate the rules and regulations
to be enforced by the bank examiners. They can thus
No, not without violating the Constitution of the force local banks to lend money only to a few large
United States. corporations, thereby stifling and ruining small indi-
Has Congress delegated for private profit and vidual enterprises.
without specification the power to originate our
money? Modern capitalism and communism
Yes, by the National Bank Act of 1863 and the Fed- Did Karl Marx ever attack private money creation
eral Reserve Act of 1913, as well as intermediary and privileges and international bankers?
subsequent enactments. No, his whole system proposed not the abolition
of illicit private money creation and destruction pow-
But, are these not laws, passed by Congress? ers, but its consolidation under a system of complete
No! They are violations of Constitutional law, economic, political and religious domination of the en-
passed by Congress just as were the AAA (Agricultur- tire world by a few internationalists.
al Adjustment Act) and NRA (National Recovery Act).
(Editor’s note: these two laws, passed in 1933, were Is the late Charles A Lindbergh, Sr. correct in iden-
ruled unconstitutional a few years later by the U.S. Su- tifying modern capitalism with modern communism?
preme Court.) Yes, because in the dream of a world democ-
Why does this violation continue? racy the international banker, who is endeavoring to
control the world through the fiction of his gold stan-
Because every time a Franklin, a Jefferson, a Jack- dard, is now anxious to destroy all parliaments and
son, or a Lincoln, or any other honest public servant congresses in order to retain his ill-gotten supremacy.
attempted to arouse the people to the fraud from It is a matter of history that, while modern capitalists
which they suffer, the private money creators — inter- openly oppose communism, in private they sustain, in
national bankers — arose in their might and used their some instances, the worst elements of communism.
controlled press, their bootlick politicians, their office
boy bankers, their docile clergymen, and their power Usury
over the prosperity of America, to smash the drive for If banks, then, are debt shops where money is
economic freedom. Thus far, they have succeeded. manufactured for the purpose of creating debts, is
How can Congress regain its privilege of issuing money issued primarily for usurious purpose?
our money? Yes. Money comes into existence from the banks
There is no need to regain what it has not the right only as “interest-bearing-loans” which interest must
to surrender. It still has that right, and can, and should be paid by every person who uses money.
immediately resume its exercise of this most import- What is usury?
ant constitutional command. Usury is a breach against the commandment
The Federal Reserve System “Thou shalt not steal”, and is related to three specific
Are the Federal Reserve Banks really Federal? immoral actions listed under the following: (a) Char-
ging an unreasonable and abnormal rate of interest.
They are not. The Federal Reserve Banks are pri- (b) Charging interest on any recognized non-product-
vate stock corporations owned entirely by other pri- ive or destructive loan. (c) Charging interest on a loan
vate corporations known as member banks. They are of fictitious money which the lender created, thereby
no more Federal than the Federal Bakery or Federal demanding from the borrower an unjust return. In the
Laundry. latter case, the lender reaps where he did not sow.
What is a Federal Reserve Bank? Is usury opposed to morality? u

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