Depositors all over the country were frightened about the safety of their funds and rushed to withdraw them. There were runs, there were failures of banks by the droves, and all the time, the Federal Reserve system stood idly by when it had the power and the duty and the responsibility to provide the cash that would have enabled the banks to meet the insistent demands of their depositors without closing their doors. Milton Friedman
The power to determine the quantity of money ... is too important, too pervasive, to be exercised by a few people, however public-spirited, if there is any feasible alternative. There is no need for such arbitrary power ... Any system which gives so much power and so much discretion to a few men, that mistakes, excusable or not, 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. Milton Friedman
The stock of money, prices and output was decidedly more unstable after the establishment of the Federal Reserve System. Milton Friedman
The severity of each of the major contractions ... is directly attributable to acts of commission and omission by the Reserve authorities. Milton Friedman
There is and has been for some time a conspiracy among some of the richest people in the world. A conspiracy that virtually owns the money systems ... In the United States this monetary fraud is perpetuated through the Federal Reserve system ... The capitalist conspiracy in this country surfaces to public view in the form of the semi-secret Council on Foreign Relations ... On the surface the capitalist conspiracy appears to oppose communism ... There is much evidence indicating that the capitalist and communist conspiracies both are directed by a single master conspiracy which may have continuity with the Order of the Illuminati ... As for our response, we must begin to dismantle the conspiracy’s machine of big government ... We must reduce the Federal Reserve system to a service function of clearing cheques between banks only ... We must expose the conspiracy to public view. G Edward Griffin, The Capitalist Conspiracy
On December 22nd 1913 the Federal Reserve Act finally was passed into law: something known as the Federal Reserve system came being, and with it total control over the nation’s money fell into private hands. The Federal Reserve system solely is responsible for creating money in the United States. ibid.
This is how money is created in the western world, and it’s an amazing story. G Edward Griffin
Those with the power have abused it, and have created more and more and more money at a rate much faster than the expansion of goods and services. G Edward Griffin
We must get rid of the Fiat money system. G Edward Griffin
The Federal Reserve Bank is nothing but a banking fraud and an unlawful crime against civilization. Why? Because they ‘create’ the money made out of nothing, and our Uncle Sap Government issues their ‘Federal Reserve Notes’ and stamps our Government approval with no obligation whatever from these Federal Reserve Banks, Individual Banks or National Banks etc. H L Birum
The Federal Reserve system virtually controls the nation’s monetary system, yet it is accountable to no-one. It has no budget, it is subject to no audit, and no congressional committee knows of or can truly supervise its operations. Murray M Rothbard
Since 1980 the Fed has enjoyed the absolute power to do literally anything it wants: to buy not only US government securities, but any asset whatever, to buy as many assets, and to inflate credit, as much as it pleases. There are no restraints on the Federal Reserve. The Fed is master of all it controls. Murray N Rothbard, 1926-1995
It’s really no different from a burglar in your house wanting to steal your money. That’s what the Federal Reserve does. It depreciates your savings, it takes away your economic security, and it ought to be treated as an institution that does that rather than something of an alleged benefit. Lew Rockwell
In 1910 a secret meeting was held at a J P Morgan estate on Jekyll Island off the coast of Georgia. It was there that the central banking bill called The Federal Reserve Act was written. This legislation was written by bankers not lawmakers. This meeting was so secretive, so concealed from government and public knowledge, that the ten or so figures who attended disguised their names when en route to the island. After this Bill was constructed it was then handed over to their political front-man, Senator Nelson Aldrich, to push through Congress. John Nada, Wake Up Call
Let me control a people’s currency and I care not who makes their laws. Meyer Nathaniel Rothschild, speech to gathering of world bankers 12th February 1912
The government borrows money from a private corporation, using the name Federal that prints United States on it, and it pays back to the Fed, which is owned by private banks – we don’t know who those private banks are. The money that the government is paying back to private bankers is the money that comes from you and me. Michael Ruppert, investigator & author
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. Charles A Lindbergh
Who controls money controls the world. Henry Kissinger, Council on Foreign Relations
Under the Executive Order of the President: all persons are required to deliver on or before May 1 1933 all gold coin, gold bullion, and gold certificates now owned by them to a Federal Reserve Bank, branch or agency, or to any member bank of the Federal Reserve System. Executive Order 3rd April 1933, penalty threat of ten years imprisonment
The creation of the Federal Reserve system was about more than just money. Some refer to it as the secret birth of a criminal conspiracy to rob the American middle class of its hard-earned wealth. Others believe it to be part of an attempt to bring the world under the control of a shadowy international elite that calls itself the New World Order. Monopoly Men: Federal Reserve Fraud
There is indeed a global conspiracy going on, and why it is being carried out and concealed is to control the global money system, and hence control of all other subsequent systems of importance down the food chain. Such as governance and media. It is important to understand that control of the global money system has been achieved through control of the global central banking system. And this system is a privately run enterprise. It is a private business that runs for a profit, and is owned and operated by wealthy international banking dynasties such as the Rothschilds, the Morgans and the Rockefellers. The Big Picture – FINAL
I consider the Federal Reserve Act and the creation of the Federal Reserve as unconstitutional. It gave the government then the legal power to create legal tender out of thin air. Ron Paul
The notion of a central bank does not fit into the Constitution; the Congress has the authority to coin money, and only gold and silver should be legal tender. This is an absolute contradiction of the Federal Reserve system and a central bank. Ron Paul
The real deception is when we distort the value of money, when we print money out of thin air – we have no savings, yet there’s so-called capital ... How in the world can we expect to solve the problems of inflation – that is the increase in the supply of money – with more money? Ron Paul
The hand that is above the hand that takes. Money has no motherland. Financiers are without patriotism and without decency. Their sole object is gain. Napoleon Bonaparte
Usury once in control will wreck the nation. William Lyon Mackenzie King, 10th prime minister of Canada
Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talks of the sovereignty of Parliament and of democracy is idle and futile. William Lyon Mackenzie King
Someone has to borrow every dollar we have in circulation ... If the banks create ample ... money we are prosperous; if not, we starve ... It is the most important subject intelligent persons can investigate and reflect upon. Robert H Hemphill, Federal Reserve of Atlanta credit manager 1934
Money: there’s nothing so demoralising in the world as money. Sophocles
When I was young I thought that money was the most important thing in life; now that I am old I know that it is. Oscar Wilde
There is only one class in the community that thinks more about money than the rich and that is the poor. The poor can think of nothing else. Oscar Wilde