Wednesday, September 28, 2005

Crooks, in their own words

America's own domestic Axis of Evil is the corrupt Congress, the financial, income tax, and non-profit industries, and the IRS, who's just the bag man. They operate as classic good cop-bad cop, where congressmen paint IRS in black hoods and whine about the "incredibly complex tax code" that they wrote. But the flip side of the financial scam launched in 1912-13 is the Federal Reserve counterfeiting operation.
Do you think those green pieces of paper in your wallet have any worth? Here's Marriner Eccles, governor of the Federal Reserve System, testifying before the House Committee on Banking and Currency in 1941.
In the Age of Obama, the heist has jacked up to the trillions, but the scams are nothing new in Washington. Note Eccles's chutzpah when a congressman asks where the Fed obtained the money in 1933 to buy two billion dollars in government bonds:

Eccles: We created it.
Rep. Patman: Out of what?
Eccles: Out of the right to issue credit money.
Rep. Patman: And there is nothing behind it, is there, except our government's credit?
Eccles: That’s what our system is; if there were no debts in our system, there wouldn't be any money.

Or listen to Robert Hemphill, former credit manager, Federal Reserve Bank Atlanta:
“If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless situation is almost incredible -- but there it is.” (100% Money, New York, Adelphi, 1936, pg. xxi)

The Federal Reserve creates 100% debt-based counterfeit currency and would never want our national debt reduced, as it openly admits:
“A large and growing number of analysts…now regard the national debt as something useful, if not an actual blessing....the national debt need not be reduced at all.” (The National Debt, Federal Reserve Bank of Philadelphia, pp. 2, 11)
“Debt, public and private, is here to stay. It plays an essential role in economic processes.... (we need) not the abolition of debt, but its prudent use and intelligent management.” (Two Faces of Debt, Federal Reserve Bank of Chicago, p. 33.)

Hogswallop. What we need is Tax Honesty, and long prison terms for crooks.