CHAPTER 6
6-32 Federal Reserve
6-32a Washington, DC
These eight private banks own the most shares of the Federal Reserve. Essentially,
they own the FED.
1. Rothschild Bank of London
2. Warburg Bank of Hamburg
3. Rothschild Bank of Berlin
4. Lehman Brothers of New York
5. Lazard Brothers of Paris
6. Kuhn Loeb Bank of New York
7. Israel Moses Seif Banks of Italy
8. Goldman, Sachs of New York
9. Warburg Bank of Amsterdam
10. Chase Manhattan Bank of New York
“Eight families - only four of which reside in the US. - have 80% ownership of the New York
Federal Reserve Bank, by far the most powerful Fed branch. They are the Goldman Sachs,
Rockefellers, Lehmans and Kuhn Loebs of New York; the Rothschild’s of Paris and London;
the Lazards of Paris; and the Israel Moses Seifs of Rome.”
J. W. McCallister, an oil industry insider with House of Saud connections writing (in The Grim
Reaper) about information he acquired from Saudi bankers - from Dean Henderson’s book
“Big Oil & Their Bankers In The Persian Gulf”
“The Federal Reserve is commonly called the “Fed,” confusing it with the U.S. government;
but it is actually a private corporation. It is so private that its stock is not even traded on the
stock exchange. The government doesn’t own it. You and I can’t own it. It is owned by a
consortium of private banks, the biggest of which are Citibank and J. P. Morgan Chase
Company. These two megabanks are the financial cornerstones of the empires built by
J. P. Morgan and John D. Rockefeller, the “Robber Barons” who orchestrated the Federal
Reserve Act in 1913.”
Ellen Hodgson Brown in her book “Web of Debt”
“Some people think the Federal Reserve banks are United States Government institutions.
They are not government institutions. They are private credit monopolies which prey upon
the people of the United States for the benefit of themselves and their foreign customers.
The Federal Reserve banks are the agents of the foreign central banks.”
Louis McFadden chairman of the House Banking and Currency Committee, addressed the
House of Representatives on June 10, 1932
“The Federal Reserve Banks create money out of thin air to buy Government bonds from the
United States Treasury, lending money into circulation at interest, by bookkeeping entries...
Where does the Federal Reserve system get the money with which to create Bank Reserves?
Answer. It doesn’t get the money, it creates it. When the Federal Reserve writes a check, it is
creating money. The Federal Reserve is a total moneymaking machine.”
Congressman Wright Patman House Banking and Currency Committee, 1964
“The establishment of the Federal Reserve (1913) ensured that the United States would
become indebted to and owned by international banking interests, and thus, act in their interest.
The Fed financed the US role in World War I, provided the credit for speculation, which led to the
Great Depression and massive consolidation for the interests that own the Federal Reserve
System. It then financed US entry into World War II.”
Carroll Quigley in his book “Tragedy and Hope”
“The shareholders of the banks which own the stock of the Federal Reserve Bank of New York
are the people who have controlled our political and economic destinies since 1914. They are
the Rothschilds, of Europe, Lazard Freres, Israel Sieff, Kuhn Loeb Company, Warburg Company,
Lehman Brothers, Goldman Sachs, the Rockefeller family, and the J.P. Morgan interests.”
Eustace Mullins in his book “The Secrets of the Federal Reserve”
“When the federal government needs more money, the Federal Reserve does not merely create
and print it as it would do were it a government agency. No, the Federal Reserve creates it as a
loan and charges the government interest on it.”
U.S. State Senator Jack Metcalf (R-WA)
“The Federal Reserve controls our money supply and interest rates, and thereby manipulates the
entire economy - creating inflation or deflation, recession or boom, and sending the stock market
up or down at whim... Between 1923 and 1929, the Federal Reserve expanded (inflated) the money
supply by sixty-two percent. Much of this new money was used to bid the stock market up to dizzying
heights. In 1929, the Federal Reserve Board reversed its easy money policy and began raising the
discount rate. The balloon which had been inflated constantly for nearly seven years was about to
be exploded.”
Gary Allen in his book “None Dare Call It Conspiracy”
“The American central bank (the Fed or the Federal Reserve System) is an institution that is entrusted
to regulate banks and other financial institutions, but it is partly owned by the large money center banks.
It is in a perpetual conflict of interests. In fact, it can be said that the Fed is the banks’ own private
government. In good times, large Wall Street banks, bank holding companies and other large integrated
financial groups are pretty much left alone and allowed to build profitable but risky and shaky financial
pyramids, with scant supervision. When things go bad, however, the Fed stands ready to bail them out
with automatic discounting, zero-interest loans and other goodies, the overall cost being transferred to
the general public through an inflation tax and a debased currency.”
Professor Rodrigue Tremblay, Global Research
“The establishment of the Federal Reserve (1913) ensured that the United States would become
indebted to and owned by international banking interests, and thus, act in their interest.”
Andrew Gavin Marshall, Global Research
“The Federal Reserve System is a privately owned central bank. While the Federal Reserve Board is a
government body, the process of money creation is controlled by the twelve Federal Reserve banks,
which are privately owned. The shareholders of the Federal Reserve banks (with the New York Federal
Reserve Bank playing a dominant role) are among America’s most powerful financial institutions.”
Michel Chossudovsky
“The Chairman of the Federal Reserve has one essential mandate: to preserve the power of the big banks.”
F. William Engdahl
“When the President signs this act (Federal Reserve Act of 1913), the invisible government by the money
power - proven to exist by the Monetary Trust Investigation - will be legalized. The new law will create
inflation whenever the trusts want inflation. From now on, depressions will be scientifically created.”
Congressman Charles A. Lindbergh, Sr., 1912
“The Federal Reserve ... controls our monetary policy. By changing the supply of dollars in circulation,
they have influence over interest rates, mortgage payments, whether the financial markets boom or collapse,
and basically whether our economy expands or stumbles. But the Fed is only partly an institution of
government. The stockholders in a dozen different Federal Reserve banks in different regions of the country
are the big private banks.
... The Federal Reserve was created by Congress in 1913, after a financial panic that led to a secret
meeting at banker J.P. Morgan’s private resort, off the coast of Georgia at a place called Jekyll Island.
... What emerged was a cartel agreement with five objectives: stop the growing competition from the nation’s
newer banks; obtain a franchise to create money out of nothing for the purpose of lending; get control of the
reserves of all banks so that the more reckless ones would not be exposed to currency drains and bank runs;
get the taxpayer to pick up the cartel’s inevitable losses; and convince Congress that the purpose was to
protect the public. It was realized that the bankers would have to become partners with the politicians and
that the structure of the cartel would have to be a central bank.”
Jesse Ventura in the book “American Conspiracies”
“For most of the twentieth century the Federal Reserve System, particularly the Federal Reserve Bank of
New York (which is outside the control of Congress, unaudited and uncontrolled, with the power to print
money and create credit at will), has exercised a virtual monopoly over the direction of the American
economy.”
Antony C. Sutton in his book “Wall Street and the Rise of Hitler”
“There are six major banks in the U.S. at the present time, and they control most of the stock of the Federal
Reserve System. The Rockefeller family has large blocks of stock in two of the major banks: J.P. Morgan
Chase and Citigroup. The Rothschild family has a controlling interest in two major banks and significant
holdings in the other major banks through the Barclay Bank and the State Street Bank. Why is that important?
Two families control the major banks, the major banks control the FED, and the FED controls the U.S.
economy.”
Stanley Monteith
“The dirty little secret is that both houses of Congress have become irrelevant ... in case you hadn’t noticed,
America’s domestic policy is now being run by Alan Greenspan and the Federal Reserve Board ...
Congress is out of the loop. Every so often, some senators or house members politely ask Greenspan to
visit and talk about the economy.... Then he goes back down to the Fed and runs the country.”.
Robert Reich
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