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 The Legalized Crime of Banking and a Constitutional
Remedy
Forewords
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Chapter 13
Chapter 14
Chapter 15
Chapter 16
Chapter 17
Chapter 18
Chapter
[from back cover]
The Legalized Crime Of Banking
is a simple story of The Federal Reserve System,
dealing principally with the unconstitutional creation of money and the
control of credit by private corporations. The author suggests a
concrete, simple solution, which Congress could employ, which would make the
transition from private banking to the Treasury without injuring anyone
enjoying a constitutional right, or without upsetting our normal course of
trade, industry, and agriculture.
The
Pauper and The Rich Man
The pauper (the Federal Reserve Bank) with assets of $52 billion with
no productive know how, and less than 100,000 stockholders, loaned the rich
man (The United States Government) with well over $350 billion in physical
assets plus $250 billion in productive capacity and know how, with 170
million stockholders, $300 billion to fight World War II. Can you
imagine the greatest corporation on earth, with 170 million stockholders and
assets running over $600 billion, turning to a corporation with less than
100,000 stockholders and assets of only $52 billion to borrow money?
Can you imagine Rockefeller saying to his chauffer: “Tom, I am
transferring my personal chequeing account, which is around $1 billion, to
your account; you may spend it as you please, provided that when I need some
cash, you will hand it to me. Of course, I will give you my note for
cash I receive and pay interest on the note.”
Well, that is exactly what Congress did in 1913 when it passed the
Reserve Act. To fight World War II, we gave the bankers of the United
States $300 billion in U.S. Bonds that we might use the Nation's
credit. In addition, we permitted them to take a credit of $300 billion
in their reserve accounts. This gave them $2 trillion 100 billion bank
credit. These credits are to bankers what your deposit credits on their
books are to you. They can lend it, or buy investment obligations-it is
cash to them! So adding the $300 billion in Bonds to their bank credit,
we find that the bankers (the then paupers) came out of World War II $2
trillion 400 billion richer than when we went into the War. The United
States Government (the then rich man), thanks to the stupidity and venality
of her sons (congressmen), and newspapers and journals, came out of the War
$300 billion in debt!
And, dear reader, that fable happens to be true.
MEADOR
PUBLISHING COMPANY,
324 Newbury Street,
Boston 15, Massachusetts
By : Charleston Voice
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