1933 is to 2009 as Apples are to Apples- Ron Paul of the Great Depression
Louis Thomas McFadden (July 25, 1876 – October 1, 1936) was a Republican member of the U.S. House of Representatives from Pennsylvania.
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McFadden's main official legacy was the working on and the passing of the McFadden Act of 1927 limiting federal branch banks to the city in which the main branch operates. The Act sought to give national banks competitive equality with state-chartered banks by letting national banks branch to the extent permitted by state law. The McFadden Act specifically prohibited interstate branching by allowing national banks to branch only within the state in which it is situated. Although the Riegel-Neal Interstate Banking and Branching Efficiency Act of 1994 repealed this provision of the McFadden Act, it specified that state law continues to control intrastate branching, or branching within a state's borders, for both state and national banks
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McFadden is also remembered for his criticism of the Federal Reserve, which he claimed was created and operated by European banking interests who conspired to economically control the United States. On June 10, 1932, McFadden made a 25-minute speech before the House of Representatives[2] , in which he accused the Federal Reserve of deliberately causing the Great Depression. McFadden also claimed that Wall Street bankers funded the Bolshevik Revolution through the Federal Reserve banks and the European central banks with which it cooperated. McFadden moved to impeach President Herbert Hoover in 1932, and also introduced a resolution bringing conspiracy charges against the Board of Governors of the Federal Reserve. The impeachment resolution was defeated by a vote of 361 to 8; it was seen as a big vote of confidence to President Hoover from the HouseIn 1933, he introduced House Resolution No. 158, articles of impeachment for the Secretary of the Treasury, two assistant Secretaries of the Treasury, the Board of Governors of the Federal Reserve, and the officers and directors of its twelve regional banks.
McFadden died in 1936 on a visit to New York City and was interred in East Canton Cemetery in Canton, Pennsylvania.
Speculation of foul play has risen regarding McFaddens death. Some conspiracy theorists have proposed that he was poisoned as the result of his attempt to impeach members of the central bank in the United States
This battle between the Federal Reserve and the people is not new. It's been going on since the Federal Reserve was established. Louis McFadden was just like Ron Paul and Dennis Kucinich in their warning of central banking and monetary policy.
The Federal Reserve accused of Treason in 1934
Congressman McFadden on the Federal Reserve Corporation
Remarks in Congress, 1934
AN ASTOUNDING EXPOSUREMr. McFadden, due to his having served as Chairman of the Banking and Currency Committee for
more than 10 years, was the best posted man on these matters in America and was in a position to speak with authority of the vast ramifications of this gigantic private credit monopoly.
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(The Speech)
"Mr. Chairman, we have in this Country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the Fed. The Fed has cheated the Government of these United States and the people of the United States out of enough money to pay the Nation's debt. The depredations and iniquities of the Fed has cost enough money to pay the National debt several times over."This evil institution has impoverished and ruined the people of these United States, has bankrupted itself, and has practically bankrupted our Government. It has done this through the defects of the law under which it operates, through the maladministration of that law by the Fed and through the corrupt practices of the moneyed vultures who control it.
"Some people who think that the Federal Reserve Banks United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lender. In that dark crew of financial pirates there are those who would cut a man's throat to get a dollar out of his pocket; there are those who send money into states to buy votes to control our legislatures; there are those who maintain International propaganda for the purpose of deceiving us into granting of new concessions which will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime.
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the Wilson administration, under the tutelage of those sinister Wall Street figures who stood behind Colonel House, established here in our free Country the worm-eaten monarchical institution of the "King's Bank" to control us from the top downward, and from the cradle to the grave.
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"One of the greatest battles for the preservation of this Republic was fought out here in Jackson's time; when the second Bank of the United States, founded on the same false principles of those which are here exemplified in the Fed was hurled out of existence.
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"The danger that the Country was warned against came upon us and is shown in the long train of horrors attendant upon the affairs of the traitorous and dishonest Fed. Look around you when you leave this Chamber and you will see evidences of it in all sides. This is an era of misery and for the conditions that caused that misery, the Fed are fully liable. This is an era of financed crime and in the financing of crime the Fed does not play the part of a disinterested spectator.
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"In eighteen years that have passed since Senator Lodge wrote that letter of warning all of his predictions have come true. The Government is in the banking business as never before. Against its will it has been made the backer of horse thieves and card sharps, bootlegger's smugglers, speculators, and swindlers in all parts of the world. Through the Fed the riffraff of every country is operating on the public credit of the United States Government.
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"Recently in one of our States, 60,000 dwelling houses and farms were brought under the hammer in a single day. 71,000 houses and farms in Oakland County, Michigan, were sold and their erstwhile owners dispossessed. The people who have thus been driven out are the wastage of the Fed. They are the victims of the Fed. Their children are the new slaves of the auction blocks in the revival of the institution of human slavery.
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"The Fed Note is essentially unsound. It is the worst currency and the most dangerous that this Country has ever known.
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"Hon. L.J.Hill, a former member of the House, said, and truly: "They are obligations of the Government for which the United States received nothing and for the payment of which at any time, it assumes the responsibility: looking to the Fed to recoup itself.'
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By making money artificially scarce, interest rates throughout the Country can be arbitrarily raised and the bank tax on all business and cost of living increased for the profit of the banks owning these regional central banks, and without the slightest benefit to the people
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Is it any wonder that American labor which ultimately pays the cost of all banking operations of this Country has at last proved unequal to the task of supplying this huge total of cash and credit for the benefit of the stock market manipulators and foreign swindlers?
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"Are you going to let these thieves get off scot free? Is there one law for the looter who drives up to the door of the United States Treasury in his limousine and another for the United States Veterans who are sleeping on the floor of a dilapidated house on the outskirts of Washington?
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"Mr. Chairman, last December, I introduced a resolution here asking for an examination and an audit of the Fed and all related matters. If the House sees fit to make such an investigation, the people of these United States will obtain information of great value. This is a Government of the people, by the people, for the people. Consequently, nothing should be concealed from the people. The man who deceives the people is a traitor to these United States."The man who knows or suspects that a crime has been committed and who conceals and covers up that crime is an accessory to it. Mr. Speaker, it is a monstrous thing for this great nation of people to have its destinies presided over by a traitorous government board acting in secret concert with international usurers.
"Every effort has been made by the Fed to conceal its powers- but the truth is- the Fed has usurped the Government. It controls everything here and it controls all of our foreign relations. It makes and breaks governments at will.
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"The people of these United States are being greatly wronged. They have been driven from their employments. They have been dispossessed from their homes. They have been evicted from their rented quarters. They have lost their children. They have been left to suffer and die for lack of shelter, food, clothing and medicine.
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"The wealth of these United States and the working capital have been taken away from them and has either been locked in the vaults of certain banks and the great corporations or exported to foreign countries for the benefit of the foreign customers of these banks and corporations. So far as the people of the United States are concerned, the cupboard is bare."It is true that the warehouses and coal yards and grain elevators are full, but these are padlocked, and the great banks and corporations hold the keys.
"The sack of these United States by the Fed is the greatest crime in history.
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"What is needed here is a return to the Constitution of these United States.
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"The Fed should be repealed, and the Fed Banks, having violated their charters, should be liquidated immediately. Faithless Government officials who have violated their oaths of office should be impeached and brought to trial."Unless this is done by us, I predict, that the American people, outraged, pillaged, insulted and betrayed as they are in their own land, will rise in their wrath, and will sweep the money changers out of the temple.
"Mr. Chairman, the United States is bankrupt: It has been bankrupted by the corrupt and dishonest Fed. It has repudiated its debts to its own citizens.
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"(The Federal Reserve Note) is the money of slaves, not of free men.
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"They likewise entered into a conspiracy to deprive the people of the U.S. of their title to the war debts and not being able to do that in the way they intended, they are now engaged in an effort to debase the American dollar
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"The U.S. Treasury cannot be made liable for them. The Fed currency must be redeemed by the Fed banks or else these Fed banks must be liquidated.
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"Whereas, I charge. . . (many, many names), Federal Reserve Agents, jointly and severally, with violations of the Constitution and laws of the United States, and whereas I charge them with having taken funds from the U.S Treasury which were not appropriated by the Congress of the United States, and I charge them with having unlawfully taken over $80,000,000,000 from the U.S. Government in the year 1928, the said unlawful taking consisting of the unlawful creation of claims against the U.S. Treasury to the extent of over $80,000,000,000 in the year 1928; and I charge them with similar thefts committed in 1929, 1930, 1931, 1932 and 1933, and in years previous to 1928, amounting to billions of dollars;
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"Whereas I charge them, jointly and severally, with the crime of having treasonable conspired and acted against the peace and security of the U.S. and with having treasonable conspired to destroy constitutional Government in the U.S.
This was even when the US Dollar was backed by gold! It's a remarkable testament that we don't learn from history.
I believe it's time to start looking to accuse our Representatives as criminally compliant with the Federal Reserve who don't vote for Auditing the Federal Reserve.
Will we learn this time? Will we audit and eliminate the Fed?