100 Years of Financial Terrorism
Monday, December 23, 2013
December 23, 1913 will live in infamy. Three days before Christmas, House members passed the Federal Reserve Act (FSA).
On December 23, Senate members did so. President Woodrow Wilson was a tool of big money. He was JP Morgan’s man in Washington. He signed FSA into law straightaway. He acted disgracefully.
So did Congress. It passed FSA in the middle of the night. Most congressional members hadn’t read it.
They wouldn’t have understood it anyway. It was cleverly worded to deceive them. Only its creators knew its purpose. Ellen Brown explained what happened as follows:
In plain English, the Federal Reserve Act authorized a private central bank to create money out of nothing, lend it to the government at interest, and control the nation’s money supply, expanding or contracting it at will.
Weeks before FSA was enacted, the 1913 Revenue Act became law. It imposed a federal income tax. It did so to pay bankers interest on America’s money. It let taxpayers do it.
The University of Virginia’s Miller Center of Public Affairs calls itself a “nonpartisan research institute.” It claims to seek “to expand understanding of the presidency, policy, and political history.”