The Federal Reserve is a privately owned corporation. What is your opinion and what should the congress and President do about it ?

The Federal Reserve Is
A PRIVATELY OWNED Corporation

By Thomas D. Schauf

© 1992

11-28-98

Note - Even though this was originally released in 1992, the
essential information in it is more relevant today than ever.

Acknowledgements:

Our country likes to thank our forefathers for the
Constitution.

I wish to thank Mr. Lou Gamboa for his research of the
Constitution and our banking system. Lou Gamboa is a national speaker on the
subject, and has spoken on numerous radio programs in an effort to educate the
public.

I also want to thank Bob Corcoran for his research and
encouragement.

I applaud the thousands of patriotic Americans who are
spreading the word so we can live in economic prosperity and uphold our
Constitutional rights.

ARTICLE 1, SECTION 8 OF THE CONSTITUTION STATES THAT CONGRESS
SHALL HAVE THE POWER TO COIN (CREATE) MONEY AND REGULATE THE VALUE
THEREOF.

IN 1935 THE SUPREME COURT RULED THAT CONGRESS CANNOT
CONSTITUTIONALLY DELEGATE ITS POWER TO ANOTHER GROUP. (Reference 22, P.
168)

Rothschild, a London Banker, wrote a letter saying "It (Central
Bank ) gives the National Bank almost complete control of national finance. The
few who understand the system will either be so interested in its profits, or so
dependent on its favours, that there will be no opposition from that class...
The great body of the people, mentally incapable of comprehending, will bear its
burden without complaint, and perhaps without even suspecting that the system is
inimical (contrary) to their interests." [The bankers created the legislation
for the FED]

In 1913, before the Senate Banking and Currency Committee, Mr.
Alexander stated: "But the whole scheme of a Federal Reserve Bank with its
commercial-paper basis is an impractical, cumbersome machinery, is simply a
cover, to find a way to secure the privilege of issuing money and to evade
payment of as much tax upon circulation as possible, and then control the issue
and maintain, instead of reduce, interest rates. It is a system that, if
inaugurated, will prove to the advantage of the few and the detriment of the
people of the United States. It will mean continued shortage of actual money and
further extension of credits; for when there is a lack of real money people have
to borrow credit to their cost."

Dear American:

Pursuant to your request, I will attempt to clear up questions
you have about the Federal Reserve Bank (FED). I spent much time researching the
FED and these are the shocking and revealing conclusions.

THE FEDERAL RESERVE BANK IS A PRIVATE COMPANY.

Article 1, Section 8 of the Constitution states that Congress
shall have the power to coin (create) money and regulate the value thereof.
Today however, the FED, which is a privately owned company, controls and profits
by printing money through the Treasury, and regulating its value.

The FED began with approximately 300 people or banks that
became owners (stockholders purchasing stock at $100 per share - the stock is
not publicly traded) in the Federal Reserve Banking System. They make up an
international banking cartel of wealth beyond comparison (Reference 1, 14). The
FED banking system collects billions of dollars (Reference 8, 17) in interest
annually and distributes the profits to its shareholders. The Congress illegally
gave the FED the right to print money (through the Treasury) at no interest to
the FED. The FED creates money from nothing, and loans it back to us through
banks, and charges interest on our currency. The FED also buys Government debt
with money printed on a printing press and charges U.S. taxpayers interest. Many
Congressmen and Presidents say this is fraud (Reference 1,2,3,5,17).

Who actually owns the Federal Reserve Central Banks? The
ownership of the 12 Central banks, a very well kept secret, has been
revealed:

Rothschild Bank of London Warburg Bank of Hamburg Rothschild
Bank of Berlin Lehman Brothers of New York Lazard Brothers of Paris Kuhn Loeb
Bank of New York Israel Moses Seif Banks of Italy Goldman, Sachs of New York
Warburg Bank of Amsterdam Chase Manhattan Bank of New York (Reference 14, P. 13,
Reference 12, P. 152)

These bankers are connected to London Banking Houses which
ultimately control the FED. When England lost the Revolutionary War
with America (our forefathers were fighting their own government), they planned
to control us by controlling our banking system, the printing of our money, and
our debt (Reference 4, 22).

The individuals listed below owned banks which in turn owned
shares in the FED. The banks listed below have significant control over the New
York FED District, which controls the other 11 FED Districts. These banks also
are partly foreign owned and control the New York FED District Bank. (Reference
22)

First National Bank of New York James Stillman National City
Bank, New York Mary W. Harnman

National Bank of Commerce, New York A.D. Jiullard

Hanover National Bank, New York Jacob Schiff

Chase National Bank, New York Thomas F. Ryan Paul Warburg
William Rockefeller Levi P. Morton M.T. Pyne George F. Baker Percy Pyne Mrs.
G.F. St. George J.W. Sterling Katherine St. George H.P. Davidson J.P. Morgan
(Equitable Life/Mutual Life) Edith Brevour T. Baker (Reference 4 for above,
Reference 22 has details, P. 92, 93, 96, 179)

How did it happen? After previous attempts to push the Federal
Reserve Act through Congress, a group of bankers funded and staffed Woodrow
Wilson's campaign for President. He had committed to sign this act. In 1913, a
Senator, Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the
Federal Reserve Act through Congress just before Christmas when much of Congress
was on vacation (Reference 3, 4, 5). When elected, Wilson passed the FED. Later,
Wilson remorsefully replied (referring to the FED), "I have unwittingly ruined
my country" (Reference 17, P. 31).

Now the banks financially back sympathetic candidates. Not
surprisingly, most of these candidates are elected (Reference 1, P. 208-210,
Reference 12, P. 235, Reference 14, P. 36). The bankers employ members of the
Congress on weekends (nickname T club -out Thursday...-in Tuesday) with
lucrative salaries (Reference 1, P. 209). Additionally, the FED started buying
up the media in the 1930's and now owns or significantly influences most of it
Reference 3, 10, 11, P. 145).

Presidents Lincoln, Jackson, and Kennedy tried to stop this
family of bankers by printing U.S. dollars without charging the taxpayers
interest (Reference 4). Today, if the government runs a deficit, the FED prints
dollars through the U.S. Treasury, buys the debt, and the dollars are circulated
into the economy. In 1992, taxpayers paid the FED banking system $286 billion in
interest on debt the FED purchased by printing money virtually cost free
(Reference 12, P. 265). Forty percent of our personal federal income taxes goes
to pay this interest. The FED's books are not open to the public. Congress has
yet to audit it.

Congressman Wright Patman was Chairman of the House of
Representatives Committee on Banking and Currency for 40 years. For 20 of those
years, he introduced legislation to repeal the Federal Reserve Banking Act of
1913.

Congressman Henry Gonzales, Chairman of a banking committee,
introduces legislation to repeal the Federal Reserve Banking Act of 1913 nearly
every year. It's always defeated, the media remains silent, and the public never
learns the truth. The same bankers who own the FED control the media and give
huge political contributions to sympathetic members of Congress (Reference 12,
P. 155-163, Reference 22, P. 158, 159, 166).