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More Monetary Policy
2008-01-08 - 1:09 p.m.


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Assassination of President Garfield

President James A. Garfield was inaugurated in 1881 and was the second American president to be assassinated. He was shot by Charles J. Guiteau on July 2, 1881 and later died from medical complications on September 19. Two weeks before being shot, President Garfield is attributed with saying,

"Whoever controls the volume of money in our country is absolute master of all industry and commerce...and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate." (President James A. Garfield, 1881)

This site does a good job explaining monetary policy and its importance to your life. It is something you need to understand, or otherwise resign yourself to a life of slavery, never knowing why.

Creation of the Federal Reserve

Over a period of ten days they drafted the Federal Reserve Act that was voted on in Congress on Monday 22 December 1913 between the hours of 1:30 am to 4:30 am when much of Congress was either sleeping or at home with their families for the Christmas holidays. It passed through the Senate the following morning and Woodrow Wilson signed the bill into law later that same day at 6:02 pm. This Act transferred control of the money supply of the United States from Congress as defined in the U.S. Constitution to the private banking elite.

The deceptive terminology of the name was carefully chosen because the American public did not want a central bank similar to those in Europe. The Federal Reserve is not a federal governmental entity nor is it a reserve, such as a governmental treasury, backing up its currency. The Federal Reserve is a legalized cartel of the money supply owned by private national banks, operating for the benefit of the few under the guise of protecting and promoting public interests

(thx to Dollardaze.org)

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