Federal Reserve "Whistle Blower" exposes the fraud and provides a quick and sustainable solution

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DrKrbyLuv's picture
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
Federal Reserve "Whistle Blower" exposes the fraud and provides a quick and sustainable solution

Insider expert Robert Hemphill (Credit Manager Atlanta Federal Reserve) wrote an exposé that details the Fed's fraud and how we can end the "credit crisis" quickly and easily.  The solution is so simple that you may have to read it twice to grasp what he is saying.

"We are rapidly approaching a situation where the government MUST issue additional currency.  It will very soon be the only move remaining.  It should have been the first step in the recovery program.

Immediately upon a revival of the demand that the government increase the supply of currency, we shall again be subjected to a barrage of skillfully designed and cunningly circulated propaganda by means of which a small group of international bankers have been able, for two centuries to frighten the peoples of the civilized would against issuing their own good money in sufficient quantities to carry on their necessary commerce.

By this simple, but amazingly successful device these `money changers' -- parasites in a busy world intent on creating and exchanging wealth -- have been able to preserve for their private and exclusive right the monopoly of manufacturing an inferior substitute for money which they have hypnotized civilized nations into using, because of their pressing need to exchange goods and services.

We shall never recover on credit.  Even if it were obtainable, it is uncertain, unreliable, does not expand in accordance with demand, and contracts unexpectedly and for causes unrelated to the needs of commerce and industry.  Demand deposits cannot be loaned to commerce and industry.  Many bankers have known this for a long time.  It required this depression and the complete freezing of the whole banking system to teach the rest, but with a very few exceptions, they have all learned.

Having failed to stimulate recovery, the present idea is to distribute nonexistent profits form one group to another.  Under any system of reasoning, the purchasing power, however, will remain the same.  Instead of providing for expansion, which means the creation and exchange of more wealth, its underlying philosophy is the creation and exchange of less wealth.

It is difficult to believe adult human beings at any stages in the development of civilization could be led into serious consideration of a system founded on such an absurd doctrine.

It makes no difference how this currency is put into circulation.  We are all producers and we are likewise all consumers; each one of us buys from all of the others.  If one thousand million of new currency is thrown into circulation anywhere in the system, it becomes almost immediately distributed throughout the nation....In our present situation the issue of additional currency is the only way out."  - Sound Money, March 17, 1934

A reasonable question arises...if it is this simple...why haven't the academics, economists and politicians discovered and offered the solution?  After all; Hemphill wrote this article 76 years ago.  Maybe the article was in an obscure publication that received little notice?  No, it was published in a Hearst newspaper...and, it was quoted on the congressional floor by representative Louis McFadden (Chairman of the United States House Committee on Banking and Currency). 

This was a high profile statement that was purposely hidden from us by the international banking cartel.  It is a testament to their ruthless power that they control the media, education and politicians.  No one dares cross them.  Louis McFadden was a harsh critic of the Fed and died under questionable circumstances two years later (1936) while on a trip to New York.


compinthegroove's picture
Status: Silver Member (Offline)
Joined: Nov 8 2009
Posts: 113
Re: Federal Reserve "Whistle Blower" exposes the fraud and ...

This is what the colonists did in America, but Great Britain quickly stamped it out. Even after the Revolution was won, the first Coinage Act seriously blundered by fixing the exchange rate of gold and silver.  Adding insult to injury, this nation created a central bank.  Being clueless about money is hardly a new problem.

Thanks to our garbage education system, academics and economists are trained from the start to operate under false premises.  As for politicians... we all know about biting the hand that feeds.  Wall Street owns Washington.

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