quotations from the documentary
The Money Masters
How Banks Create the World's Money
Representative Charles A. Lindberg (R-MN)
The financial system ... has been turned
over to the Federal Reserve Board. That Board administers the
finance system by authority of ... a purely profiteering group.
The system is private, conducted for the sole purpose of obtaining
the greatest possible profits from the use of other people's money.
Representative Louis T. McFadden (R-TX)
We have in this country one of the most
corrupt institutions the world has ever known. I refer to the
Federal Reserve Board... This evil institution has impoverished
.. the people of the United States ... and has practically bankrupted
our Government. It has done this through ... the corrupt practices
of the moneyed vultures who control it.
I sincerely believe that banking institutions
are more dangerous to our liberties than standing armies. The
issuing power should be taken from the banks and restored to the
people to whom it properly belongs.
Senator Barry Goldwater (R-AZ)
Most Americans have no real understanding
of the operation of the international moneylenders. ... The accounts
of the Federal Reserve System have never been audited. It operates
outside the control of Congress and ... manipulates the credit
of the United States.
History records that the money changers
have used every form of abuse, intrigue, deceit, and violent means
possible to maintain their control over governments by controlling
money and its issuance.
In the Colonies we issue our own money.
It is called Colonial Scrip. We issue it in proper proportion
to the demands of trade and industry to make the products pass
easily from the producers to the consumers. In this manner, creating
for ourselves our own paper money, we control its purchasing power,
and we have no interest to pay to no one.
The inability of the colonists to get
power to issue their own money permanently out of the hands of
George III and the international bankers was the prime reason
for the Revolutionary War.
The institution [The Bank of North America]
having no principle but that of avarice, will never be varied
in its object ... to engross all the wealth, power and influence
of the state.
[The Bank of North America, was chartered
in 1781 by the Continental Congress, meeting in Philadelphia,
to help fund the Revolutionary War against Great Britain. It was
a privately-owned central bank, closely modeled after the Bank
of England, and was allowed to practice fractional reserve banking.
It was the predecessor of the Federal Reserve.]
If the American people ever allow private
banks to control the issue of their currency, first by inflation,
then by deflation, the banks and the corporations which grow up
around them will deprive the people of all property until their
children wake up homeless on the continent their fathers conquered.
The rich will strive to establish their
dominion and enslave the rest. They always did. They Always will
... They will have the same effect here as elsewhere, if we do
not, by [the power of] government, keep them in the proper spheres.
The hand that gives is above the hand
that takes. Money has no motherland; financiers are without patriotism
and without decency: their sole object is gain.
President Andrew Jackson's re-election campaign slogan
Jackson and no Bank [the Second Bank of
the United States, the privately-owned national Central Bank]
[Andrew Jackson was determined to remove
U.S. government deposits from the privately-owned Second Bank
of the United States in 1833, and place the money in state banks
Nicholas Biddle, head of the Second Bank of the United States,
threatened to cause a depression in the United States in 1833
if President Andrew Jackson did not recharter the Bank.
[The privately-owned Second Bank of the
United States was chartered in 1816, backed by the Rothschilds
who controlled the Bank of England. The Bank's charter was removed
by President Andrew Jackson in 1833.]
"This worthy President [Andrew Jackson]
thinks that ... he is to have his way with the Bank [Second Bank
of the United States]. He is mistaken.
... Nothing but widespread suffering will
produce any effect on Congress... Our only safety is in pursuing
a steady course of firm restriction [of the money supply] - and
I have no doubt that such a course will ultimately lead to restoration
of the currency and the recharter of the bank [Second Bank of
the United States]."
[the result of the contraction of the
money supply by the Second Bank of the United States under Nicholas
Biddle, was a financial panic followed by a deep depression]
Otto von Bismark, Chancellor of Germany
The division of the United States into
federations of equal force was decided long before the Civil War
by the high financial powers of Europe. These bankers were afraid
that the United States, if they remained as one block, and as
one nation, would attain economic and financial independence,
which would upset their financial domination over the world.
Colonel Dick Taylor to President Abraham Lincoln about how to
finance the Civil War
Get Congress to pass a bill authorizing
the printing of full legal tender treasury notes ... and pay your
soldiers with them and go ahead and win the war with them also.
... The people or anyone else will not
have any choice in the matter, if you make them full legal tender.
They will have the full sanction of the government and be just
as good as any money; as Congress is given the express right by
[in 1862-63 President Lincoln printed
up over 400 million dollars of the new bills, called Greenbacks
because of the green color of the bill's back, and financed the
Civil War - at no interest]
President Abraham Lincoln
The Government should create, issue, and
circulate all the currency and credit needed to satisfy the spending
power of the Government and the buying power of consumers.
The privilege of creating and issuing
money is not only the supreme prerogative of Government, but it
is the Government's greatest creative opportunity.
By the adoption of these principles ...
the taxpayers will be saved immense sums of interest. Money will
cease to be master and become the servant of humanity.
editorial in the London Times about President Lincoln's issuing
of full legal tender Treasury notes (Greenbacks) during the Civil
If this mischievous financial policy which
has its origin in North America, shall become endurated down to
a fixture, then that Government will furnish its own money without
cost. It will pay off debts and be without debt. It will have
all the money necessary to carry on its commerce. The brains and
wealth of all countries will go to North America. That country
must be destroyed or it will destroy every monarchy on the globe.
[Because of the continuing need to fund the Union Army during
the Civil War, President Lincoln allowed the National Bank Act
to be passed by Congress. The new national banks would operate
under a tax-free status, and have a monopoly to create the new
form of money - bank notes. As a result, the entire U.S. money
supply would be created out of debt by bankers buying U.S. government
bonds, and issuing them for reserves for banks notes.]
John Kenneth Galbraith
In numerous years following the [Civil]
War, the Federal government ran a heavy surplus. It could not
[however] pay off its debt, retire its securities, because to
do so meant there would be no bonds to back the national bank
notes. To pay off the debt was to destroy the money supply.
President Abraham Lincoln
The money power preys upon the nation
in times of peace and conspires against it in times of adversity.
It is more despotic than monarchy, more insolent than autocracy,
more selfish than bureaucracy.
Secretary of the Treasury Salmon P. Chase
My agency in promoting the passage of
the National Banking Act was the greatest financial mistake in
my life. It has built up a monopoly which affects every interest
in the country.
German Chancellor Otto von Bismark
The death of Lincoln was a disaster for
Christendom. There was no man in the United States great enough
to wear his boots ... I fear that foreign bankers with their craftiness
and tortuous tricks will entirely control the exuberant riches
of America, and use it systematically to corrupt modern civilization.
They will not hesitate to plunge the whole of Christendom into
was and chaos in order that the earth should become their inheritance.
Vancouver [Canada] Sun newspaper, May
Gerald Gratton McGreer, a Vancouver Canada
lawyer and student of Lincoln still insists there is plenty of
evidence to support his conclusion the Great Emancipator was assassinated
by agents of the international bankers of the day.
Vancouver [Canada] Sun newspaper, May 4, 1934
Abraham Lincoln, the martyred Emancipator
of the Slaves, was assassinated through the machinations of a
group representative of the International bankers who feared the
United States President's national credit ambitions - and the
plot was hatched in Toronto and Montreal.
... There was only one group in the world
at that time who could finance anything they cared to attempt
without regard to cost, and who had any reason to desire the death
They were the men opposed to his national
currency program, and who had fought him throughout the whole
of the Civil War on his policy of greenback currency.
They were the men interested in the establishment
of the Gold Standard money system and the right of the bankers
to manage the currency and credit of every nation in the world.
With Lincoln out of the way they were
able to proceed with that plan, and did proceed with it in the
United States. Within eight years after Lincoln's assassination,
silver was demonetized, and the Gold Standard money system set
up in the United States.
W. Cleon Skousen
Right after the Civil War there was considerable
talk about reviving Lincoln's brief experiment with the Constitutional
monetary system. Had not the European money-trust intervened,
it would have no doubt become an established institution.
Theodore R. Thoren and Richard F. Warner in 'The Truth in Money
The hard times which occurred after the
Civil War could have been avoided if the Greenback legislation
had continued as President Lincoln had intended. Instead, there
were a series of money panics - what we call recessions - which
put pressure on Congress to enact legislation to put the banking
system under centralized control. Eventually the Federal Reserve
Act was passed on December 23, 1913.
I went to America in the winter of 1872-73
to secure, if I could, the passage of a bill demonetizing silver.
It was in the interest of those I represented - the governors
of the Bank of England - to have it done. By 1873, gold coins
were the only form of coin money.
United States Silver Commission
The disaster of the Dark Ages was caused
by decreasing money and falling prices ... Without money, civilization
could not have had a beginning, and with a diminishing supply,
it must languish and unless relieved, finally perish.
James Buel, American Bankers Association meeting, 1877 - in a
letter to ABA members to do everything to prevent the U.S. returning
It is advisable to do all in your power
to sustain such prominent daily and weekly newspapers, especially
the Agricultural and Religious Press, as will oppose the greenback
issue of paper money and that you will also withhold patronage
from all applicants who are not willing to oppose the government
issue of money.
... To repeal the Act creating bank notes,
or to restore to circulation the government issue of money will
be to provide the people with money and will therefore seriously
affect our individual profits as bankers and lenders.
See your Congressman at once and engage
him to support our interests that we may control legislation.
President James Garfield
Whosoever controls the volume of money
in any 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.
American Bankers Association, 1891, as printed in the Congressional
Record of April 29, 1913
On September 1st, 1894, we will not renew
our loans under any consideration. On September 1st wee will demand
We will foreclose and become mortgagees
in possession. We can take two-thirds of the farms west of the
Mississippi, and thousands of them east of the Mississippi as
well, at out own price... Then the farmers will become tenants
as in England.
Alfred Crozier, Ohio attorney
The bill [Glass-Owen Bill] grants just
what Wall Street and the big banks for twenty-five years have
been striving for - private instead of public control of currency.
[The Glass-Owen Bill and the Aldrich Bill
to establish in the United States a private central bank which]
rob the government and the people of all effective control over
the public's money, and vest in the banks exclusively the dangerous
power to make money among the people scarce or plenty.
[The Glass-Owen Bill or the Federal Reserve
Act of 1913, established a private central bank - the Federal
Reserve - and granted it monopoly control of the money supply
in the United States.]
Representative Charles Lindberg (R-MN)
This Act [Federal Reserve Act of 1913]
establishes the most gigantic trust on earth. When the President
signs this bill, the invisible government by the Monetary Power
will be legalized. The people may not know it immediately, but
the day of reckoning is only a few years removed... The worst
legislative crime of the ages is perpetrated by this banking bill.
Representative Charles Lindberg (R-MN)
To cause high prices, all the Federal
Reserve Board will do will be to lower the rediscount rate, producing
an expansion of credit and a rising stock market; then when business
men are adjusted to these conditions, it can check prosperity
in mid-career by arbitrarily raising the rate of interest.
It can cause the pendulum of a rising
and falling market to swing gently back and forth by slight changes
in the discount rate, or cause violent fluctuations by a greater
rate variation, and in either case it will possess inside information
as to financial conditions and advance knowledge of the coming
change, either up or down.
This is the strangest, most dangerous
advantage ever placed in the hands of a special privilege class
by any Government that ever existed.
The system is private, conducted for the
sole purpose of obtaining the greatest possible profits from the
use of other people's money.
They know in advance when to create panics
to their advantage. They also know when to stop panic. Inflation
and deflation work equally well for them when they control finance.
If our nation can issue a dollar bond,
it can issue a dollar bill. The element that makes the bond good,
makes the bill good, also. The difference between the bond and
the bill is the bond lets money brokers collect twice the amount
of the bond and an additional 20%, where as the currency pays
nobody but those who contribute directly in some useful way.
It is absurd to say that our country can
issue $30 million in bonds and not $30 million in currency. Both
are promises to pay, but one promise fattens the usurers and the
other helps the people.
President Woodrow Wilson
We have come to be one of the worst ruled,
one the most completely controlled governments in the civilized
world - no longer a government by a vote of the majority, but
a government by the opinion and duress of a small group of dominant
Some of the biggest men in the United
States, in the field of commerce and manufacture, are afraid of
something. They know that there is a power somewhere so organize,
so subtle, so watchful, so interlocked, so complete, so pervasive,
that they had better not speak above their breath when they speck
in condemnation of it.
Gary Allen, author
If one understands the socialism is not
a share-the-wealth program, but is in reality a method to consolidate
and control the wealth, then the seeming paradox of super-rich
men promoting socialism becomes no paradox at all. Instead, it
becomes logical, even the perfect tool of power-seeking megalomaniacs.
Communism, or more accurately socialism,
its not a movement of the downtrodden masses, but of the economic
W. Cleon Skousen
Power from any source tends to create
an appetite for additional power ... It was almost inevitable
that the super-rich would one day aspire to control not only their
own wealth, but the wealth of the whole world.
To achieve this, they were perfectly willing
to feed the ambitions of the power-hungry political conspirators
who were committed to the overthrow of all existing governments
and the establishments of a central world-wide dictatorship.
Representative Louis McFadden (D-PA), chairman of the House Banking
and Currency Committee from 1920-31 - said that the Federal Reserve
Act that established a private central bank in the United States
with a monopoly over the country's currency
[The stockholders of the Federal Reserve
are] a super-state controlled by international bankers and international
industrialists acting together to enslave the world for their
Representative Wright Patman (D-TX) in the 1960s
In the United States today we have in
effect two government. We have the duly constituted Government.
Then we have an independent, uncontrolled and uncoordinated government
in the Federal Reserve System, operating the money powers which
are reserved to Congress by the Constitution.
Theodore Roosevelt, New York Times, March 27, 1922
These International bankers and Rockefeller-Standard
Oil interests control the majority of newspapers and the columns
of these papers to club into submission or rive out of public
office officials who refuse to do the bidding of the powerful
corrupt cliques which compose the invisible government.
John Hylan, Mayor of New York - New York Times, March 26, 1922
The real menace of our republic is this
invisible government which like a giant octopus sprawls its slimy
length over city, state, and nation ... It seizes in is long and
powerful tentacles our executive officers, our legislative bodies,
our schools, our courts, our newspapers, and every agency created
for the pubic protection...
... at the head of this octopus are the
Rockefeller-Standard Oil interest and a small group of powerful
banking houses generally referred to as the international bankers.
The little coterie of powerful international bankers virtually
run the United States government for their own selfish purposes.
They practically control both parties
... and resort to every device to place in nomination for high
public office only such candidates as will be amenable to the
dictates of corrupt big business...
These international bankers and Rockefeller-Standard
Oil interests control the majority of newspapers and magazines
n this country.
Curtis Dall, son-in-law of Franklin Roosevelt
about the real cause of the Great Depression in 1929
It was a calculated 'shearing' of the
public by the World-Money powers triggered by the planned sudden
shortage of call money in the New York Money Market.
economist Milton Friedman
The Federal Reserve definitely cause the
Great Depression by contracting the amount of currency in circulation
by one-third from 1929 to 1933.
Representative Louis McFadden (D-PA)
After World War I, Germany fell into the
hands of the German international bankers. These bankers brought
her and now they own her, lock, stock, and barrel. They have purchased
her industries, they have mortgages on her soil, they control
her production, they control all her public utilities.
The international German bankers have
subsidized the present Government of Germany and they have also
supplied every dollar of the money Adolf Hitler has used in his
lavish campaign to build up a threat to the government of Bruening.
When Bruening fails to obey the orders of the German International
Bankers, Hitler is brought forth to scare the Germans into submission.
Though the Federal Reserve Board, over
$30 billions of American money has been pumped into Germany. You
have all heard of the spending that has taken place in Germany...
all this was done on our money. All this was given to Germany
through the Federal Reserve Board.
The Federal Reserve Board has pumped so
many billions of dollars into Germany that they dare not name
Franklin Roosevelt. March 4, 1933
Practices of the unscrupulous money changers
stand indicted in the court of public opinion, rejected by the
hearts and minds of men. The money changers have fled from their
high seats in the temple of our civilization.
Georgetown University Professor Carroll Quigley in his 1966 book
Tragedy and Hope
The powers of financial capitalism had
a far-reaching plan, nothing less than to create a world system
of financial control in private hands able to dominate the political
system of each country and the economy of the world as a whole.
The system was to be controlled in a feudalist
fashion by the central banks of the world acting in concert, by
secret agreements arrived at in frequent meetings and conferences.
The apex of the system was to be the Bank
for International Settlements in Basel, Switzerland, a private
bank owned and controlled by the world's central banks which were
themselves private corporations.
Each central bank sought to dominate its
government by its ability to control treasury loans, to manipulate
foreign exchanges, to influence the level of c=economic activity
in the country, and to influence cooperative politicians by subsequent
economic rewards in the business world.
a prominent Brazilian politician
The Third World War has already started.
It is a silent war. Not, for that reason, any less sinister. The
war is tearing down Brazil, Latin America, and practically all
the Third World. Instead of soldiers dying, there are children.
It is a war over the Third World deft, one which has as its main
weapon, interest, a weapon more deadly than the atom bomb, more
shattering than a laser beam.
economist Milton Friedman
The stock of money, prices and output
was decidedly more unstable after the establishment of the [Federal]
Reserve System than before... Any system that gives so much power
and much discretion to a few men, so that mistakes can have such
far-reaching effects, is a bad system. It is a bad system to believers
in freedom just because it gives a few men such power without
any effective check by the body politic - this is the key political
argument against an independent central bank.
Sir Josiah Stamp, Director of the Bank
of England in the 1920s
Bankers own the earth. Take it away from
them, but leave them the power to create money and control credit,
and with the slick of a pen they will create enough money to buy
it back again. Take this great power away from the bankers and
all great fortunes like mine will disappear, for this would be
a better and happier world to live in.
But if you want to continue as the slaves
of bankers and pay the cost of slavery, let them continue to create
money and to control credit.
We are on the verge of a global transformation.
All we need is the right major crisis and the nation will accept
the New World Order.