“Commerce is larger than governments and will certainly prevail over them all. When once this conviction prevails, we shall all be surprised to see how easily natural laws will conquer local prejudice and legislation.”
George S. Coe, President of the American Exchange National Bank – April 10, 1893, in a letter to José F. De Navarro
As I mentioned yesterday, the Federal Reserve – that erstwhile U.S. Central Bank, of Federal United States reaches the grand old age of 100 today.
Back in 1913, on this day, the Federal Reserve was born, but it had an ignominious birth.
The beginnings of the Fed, though, go back even further to several attempts by senior Bankers to fasten a Central Banking organisation on the Americans. An organisation that would give power, to those born to these Banking families, and to wield it by the politicians they bought with their power and wealth.
The Banking Crisis of 1908, was the pretext for its instigation.
The Banking Crisis of 1908
The crisis began like all crises do, by large organisations getting into difficulties.
A stock market fall which engulfed the banking sector, as hundreds of organisations using their stocks as collateral against loans and the Banks calling in their loans, when they too got into financial difficulties.
The birth of the Fed
Their journey began on the night of November 22, 1910, as a railroad car with blinds drawn, on a little used platform filled with bankers left for an unknown destination from a station in Hoboken, New Jersey. Newspapermen stood dejected and frustrated as these bankers got away. It would be years later before the world would know what happened over the ensuing days.
Senator Nelson Aldrich had been appointed head of the National Monetary Commission in 1908, which was charged with finding a solution to the recent Banking Crisis, and his answer apparently was to give power and control to a secret cabal of Bankers, who devised the current Banking system – ostensibly to prevent further crises, but in reality to control the money, of the U.S. and ultimately the world.
They have almost succeeded. But we can fight back, by using coins of only Gold and Silver which the U.S. constitution required, but has since 15th August 1971, been abrogated.
This gives the politicians under the banker’s control a headache, as they are unable to inflate away the value of the precious metals.
The full story can be read in: The Coming Battle