The Federal Reserve Board
The Fed is America's banksters' subordinate counterpart to the BIS and the Unholy Trinity.
A cabal of banksters got together in 1913 at the idyllic Jekyll Island resort off the coast of Georgia (where my family has stayed several times, not knowing we may have slept in banksters' bedrooms). They coyly added the adjective "Federal" to disguise the intent, since twice before efforts to establish similar controlling banks had failed. 26
As you may know, the Fed is made up of 12 branches around the country. All 12 and the headquarters are owned by 10 mega banks, four of which are headquartered in the U.S. As you might suspect, two of the owners are Rothschild banks, one in London and one in Berlin. About 100 very powerful individuals own those banks and thus also own the Fed. It is, therefore, no more a "Federal" agency of the government than is "Federal" Express. Being a private entity, one would expect the government would tax it. Not so, the Fed only pays property tax. 27
Remember my including U. S. Congress Representative Louis T. McFadden as one of the likely victims of an arranged assassination? At the time he was Chairman of the Committee on Banking and Currency. Here is what he said that angered the banksters; "The Federal Reserve Board has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt. Our people's money, to the tune of $1,200,000,000, has within the last few months been shipped abroad to redeem Federal Reserve Notes and to pay other gambling debts of the traitorous Federal Reserve Board and the Federal Reserve Banks." 28 Today's Fed is no less of an abominable bankster.
Mega Banksters at Home
These mega banksters in the U.S. have assets totaling trillions of dollars. They didn't get these assets through socially responsible investments to help the common good. They got them through bankrolling wars, through bankrupting the U.S. economy with fraudulent subprime securities that plummeted the U.S. into its Second Great Depression, and through all sorts of other ways to fleece the public out of its money. Put simply, these mega banksters are criminals on the loose throughout the country.
The Medium
Bad Capitalism
People, banksters included, do not depend only on themselves to go from birth to death. They must also depend on the circumstances and situations they encounter and sometimes help create. These circumstances and situations are the medium of life. Bad capitalism is the banksters' medium. Without it there would be no underworld of banksters.
Adam Smith, the putative "father of capitalism," was a moral philosopher. He understood the importance of morality and the difference between good and bad capitalism and thought the emerging corporations of his time posed threats emanating from their unlimited life span; unlimited size; unlimited power; and unlimited license. 29 How prescient he was!
I have written copiously about good and bad capitalism and have presented a plethora of my own as well as others' proposals to turn bad capitalism into good capitalism. 30 They have all come to naught. The banksters would guffaw if they read my work.
Public Banking to the Rescue?
Since the banksters made America's public money private it stands to reason that a straightforward solution to ridding America of the banksters or at least curtailing them would be to establish a network of public banks throughout America. That is precisely what Ellen Brown, President and Chair of the Public Banking Institute is trying to accomplish. Through her stature and persuasive skills, she managed to get published in the OpEd section of the establishment paper, New York Times, no less, a piece promoting public banking. 31 Her efforts are quite commendable and worth following.
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