Lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States, but all Duties, Imposts and Excises shall be uniform throughout the United States, borrow Money on the credit of the United States, regulate commerce tradenaturalization, bankruptcy laws, coin money, regulate the value thereof, and of foreign Coin, fix the Standard of Weights and Measures, punishment regarding counterfeiting the Securities and current Coin of the United States, establish Post Offices and post Roads, Promote [Editorial note: When the powers that be wish to circumvent the U. Constitution, they do it either through an executive order or international treaties. We strongly encourage you to investigate this issue thoroughly.
On May 23,Congressman, Louis T. McFadden, due to his having served as Chairman of the Banking and Currency Committee for more than 10 years, was the best posted man on these matters in America and was in a position to speak with authority of the vast ramifications of this gigantic private credit monopoly.
As Representative of a State which was among the first to declare its freedom from foreign money tyrants it is fitting that Pennsylvania, the cradle of liberty, be again given the credit for producing a son that was not afraid to hurl defiance in the face of the money-bund.
McFadden was elected to the high office on both the Democratic and Republican tickets, there can be no accusation of partisanship lodged against him. Because these speeches are set out in full in the Congressional Record, they carry weight that no amount of condemnation on the part of private individuals could hope to carry.
Chairman, we have in this Country one of the most corrupt institutions the world has ever known. The Fed has cheated the Government of these United States and the people of the United States out of enough money to pay the Nation's debt. The depredations and iniquities of the Fed has cost enough money to pay the National debt several times over.
It has done this through the defects of the law under which it operates, through the maladministration of that law by the Fed and through the corrupt practices of the moneyed vultures who control it.
They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lender.
In that dark crew of financial pirates there are those who would cut a man's throat to get a dollar out of his pocket; there are those who send money into states to buy votes to control our legislatures; there are those who maintain International propaganda for the purpose of deceiving us into granting of new concessions which will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime.
Those bankers took money out of this Country to finance Japan in a war against Russia. They created a reign of terror in Russia with our money in order to help that war along. They instigated the separate peace between Germany and Russia, and thus drove a wedge between the allies in World War.
They financed Trotsky's passage from New York to Russia so that he might assist in the destruction of the Russian Empire.
They fomented and instigated the Russian Revolution, and placed a large fund of American dollars at Trotsky's disposal in one of their branch banks in Sweden so that through him Russian homes might be thoroughly broken up and Russian children flung far and wide from their natural protectors.
They have since begun breaking up of American homes and the dispersal of American children. Chairman, there should be no partisanship in matters concerning banking and currency affairs in this Country, and I do not speak with any.
Aldrich, made a report and presented a vicious bill called the National Reserve Association bill. This bill is usually spoken of as the Aldrich bill. Senator Aldrich did not write the Aldrich bill. He was the tool, if not the accomplice, of the European bankers who for nearly twenty years had been scheming to set up a central bank in this Country and who in has spent and were continuing to spend vast sums of money to accomplish their purpose.
The men who rule the Democratic Party then promised the people that if they were returned to power there would be no central bank established here while they held the reigns of government. Thirteen months later that promise was broken, and the Wilson administration, under the tutelage of those sinister Wall Street figures who stood behind Colonel House, established here in our free Country the worm-eaten monarchical institution of the "King's Bank" to control us from the top downward, and from the cradle to the grave.
It discriminated against our 1-name commercial paper, the finest in the world, and it set up the antiquated 2-name paper, which is the present curse of this Country and which wrecked every country which has ever given it scope; it fastened down upon the Country the very tyranny from which the framers of the Constitution sough to save us.
After that, inthe Country was warned against the dangers that might ensue if the predatory interests after being cast out should come back in disguise and unite themselves to the Executive and through him acquire control of the Government.
That is what the predatory interests did when they came back in the livery of hypocrisy and under false pretenses obtained the passage of the Fed.
Look around you when you leave this Chamber and you will see evidences of it in all sides. This is an era of financed crime and in the financing of crime the Fed does not play the part of a disinterested spectator. It was a copy, in general a translation of the statues of the Reichsbank and other European central banks.
One-half million dollars was spent on the part of the propaganda organized by these bankers for the purpose of misleading public opinion and giving Congress the impression that there was an overwhelming popular demand for it and the kind of currency that goes with it, namely, an asset currency based on human debts and obligations.
Parker Willis had been employed by Wall Street and propagandists, and when the Aldrich measure failed- he obtained employment with Carter Glass, to assist in drawing the banking bill for the Wilson administration.Get the IRS off your back and out of your Life Forever.
Let Irwin Schiff show you how you can Legally Stop Paying Income Taxes!
Over time, the brackets and thresholds for the income tax have increased, subjecting ever more people to the income tax. Originally, only the highest earners would pay any income tax, but now most working people do. And everybody who pays the tax has more money taken from them than they would have under the original schedules.
For this reason, some critics argue that the sales tax is only acceptable if the 16th Amendment to the Constitution authorizing a federal income tax were repealed.
That would certainly be highly. If you want to permanently fix America’s economy, there really is no other choice. Even before Ron Paul’s rallying cry of “End The Fed” shook America during the peak of the Tea Party movement, I was a huge advocate of shutting down the Federal Reserve.
Because no matter how hard we try to patch it up otherwise, the truth is that our debt-based financial system has been fundamentally. Note - Even though this was originally released in , the essential information in it is more relevant today than ever.
Acknowledgements. Sources and Uses of Local Government Fund in Nigeria. Much has been written on Local Government finance, source, uses and the problem with special reference to Local government area in .