On June 10th, 1932, Congressman Louis T. McFadden, a former banker who was at that time the chairman of the House Banking and Currency Committee, gave an impassioned speech on the House floor regarding the threat to our nation posed by the Federal Reserve System. Rep McFadden recognized the destructive impact it would have on our country and urged that it be eliminated and that the United States return to sound banking practices.
Congressman McFadden was prophetic in his warnings; our present day reality was the future he wanted us desperately to avoid. America is being raped by international parasitic pirates, with our assets, our sovereignty and our survival as a free nation now in serious jeopardy.
Below are some excerpts of the Congressman’s sober warnings and predictions of 82 years ago that unfortunately went unheeded and remain so to this day. As our nation continues to be exploited by this self-serving oligarchy of financial barbarians in tailored suits and pink ties, we would do well to consider the Congressman’s words.
“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. The Federal Reserve Board, a Government board, has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt. The depredations and iniquities of the Federal Reserve Board has cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States, has bankrupted itself, and has practically bankrupted our Government.