Our Common Enemy

This book is intended to persuade readers that the American money and banking system was designed as a wealth transfer and wealth capture system and must be replaced by a free market money system if Americans are to remain a free people. Drawing upon the authoritative documentary on European and American monetary history entitled The Money Masters as well as various books and documentaries, the assertions contained herein are borne out by the public record. Nevertheless, this book is not, in itself, intended to be a proof. The case against our money and banking system is as much simple logic as it is well documented history. For the latter, the reader may take up the few works cited herein or seek out the many volumes written over the last several decades which conclusively prove that our money and banking system is illogical, fraudulent, unconstitutional, and not in keeping with a free society. For the former, one only need not believe that the panther sitting on the front lawn is really a poodle since some very wealthy people have claimed it is such.

JM August 2009

CONTENTS

Creating a monster
A government agency? A wolf in sheep’s clothing?
Treason may not be a big enough word
Artificial booms, artificial busts
How they love consolidation, let us count the ways
Creating “money” out of nothing
The FED is the name, and inflation is the game
John Maynard Keynes was a Fabian socialist
The Federal Reserve System’s stated goals vs. American liberty
Marx, Lenin and the Federal Reserve: the great debauchers
Only the shrewd can play – Jackson sacks the money changers
Manufactured depressions?
What is money anyway?
Gold and silver coin, the money of a free people
Paper fiat money
The Dollar and the Law of the Land
What a difference a few words make
Elastic money is wealth transfer
A Colonial Scrip for your thoughts
Patriots warned us of traitors in our midst
Captains of avarice have their sights on your freedom
A worldwide monetary and political authority?
End the lie, return to sound money and banking
Liberate the Constitution, imprison the guilty
Conclusion

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Creating a monster

Since I entered politics, I have chiefly had men’s views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak
above their breath when they speak in condemnation of it.

— Woodrow Wilson
28th President of the United States

The New Freedom, 1913

The sad and sobering fact alluded to by President Wilson, the very year he signed the Federal Reserve Act, is as telling as it is ironic. It is telling in that here we have an individual who reached the pinnacle of public power in the United States revealing the existence of a secret and well organized private power structure that held some of the biggest men of industry in a state of fear. It is ironic since Wilson did not realize, until later, that it was precisely this network
of private power which buoyed him up to the Presidency and was the true sponsor of the Federal Reserve Act which, at the request of their surrogates, he signed into law.

We learn of the powers behind the Federal Reserve Act from none other than the Chairman of the House Banking and Currency Committee, Congressman Louis T. McFadden, who said from the floor of the House chamber:

It has been said that President Wilson was deceived by the attentions of these bankers and by the philanthropic poses they The Federal Reserve System assumed. It has been said that when he discovered the manner in which he had been misled by Colonel House, he turned against that busybody, that ‘holy monk’ of the financial empire, and showed him the door. He had the grace to do that, and in my opinion he deserves great credit for it.

President Wilson died a victim of deception. When he came to the Presidency, he had certain qualities of mind and heart which entitled him to a high place in the councils of this Nation; but there was one thing he was not and which he never aspired to be; he was not a banker. He said that he knew very little about banking. It was, therefore, on the advice of others that the iniquitous Federal Reserve Act, the death warrant of American liberty, became law in his administration.

The son of a Rothschild agent in Texas, Colonel Edward Mandell House was President Woodrow Wilson’s chief advisor and a crafty behind the scenes point man for the powers propagating the Federal Reserve Act. He lived in the White House and was the constant companion of President Wilson who said, “Mr. House is my second personality. He is my independent self. His thoughts and mine are one.” According to George Sylvester Viereck’s, The Strangest Friendship in History – Woodrow Wilson and Colonel House (1932), “For seven long years, Colonel House was Woodrow Wilson’s other self. For six long years he shared with him everything but the title of Chief Magistracy of the Republic. For six years, two rooms were at his disposal in the north wing of the White House. It was House who made the slate for the Cabinet, formulated the first policies of the Administration, and practically directed the foreign affairs of the
United States.” In 1912, House published a novel entitled Philip Dru: Administrator whose protagonist, a marginally disguised representation of himself, was “seeking socialism as dreamed of by Karl Marx.”

Contrary to popular historical myth, the Federal Reserve System (FRS) was designed and brought into being by American and European banking interests in order to consolidate their power over the banking industry and the economy of the United States. It was not crafted by members of the US Congress as one might assume. Nor was it put into place for the benefit of the American people; and it most certainly is not a government agency as many Americans believe. Though Senator Nelson Aldrich assisted with the creation of the bill, he was not the driving force behind it. Eventually, even Aldrich had to be distanced from the measure due to public knowledge of his ties to the banking elite via his daughter’s marriage to the only son of industrialist and banking tycoon John D. Rockefeller.

For a front row view of events from a capable mind with expertise in the field, we again turn to Congressman McFadden. In addition to being Chairman of the House Banking and Currency Committee for over 10 years, McFadden was also the president of the Pennsylvania Bankers’ Association (1914-15) and the president of the First National Bank of Canton, Pennsylvania (1916-25). Regarding the creation of the FRS, Chairman McFadden’s recitation of events from the Congressional Record of 1932 reveal that the establishment of the central bank was an idea promulgated by individuals outside of the U.S. government:

In 1912 the National Monetary Association, under the chairmanship of the late Senator Nelson W. 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, but not the accomplice, of the European-born bankers who for nearly twenty years had been scheming to set up a central bank in this country and who, in 1912, had spent and were continuing to spend vast sums of money to accomplish their purpose.

The Aldrich bill was condemned in the platform upon which Theodore Roosevelt was nominated in the year 1912, and in that same year, when Wilson was nominated, the Democratic platform, as adopted at the Baltimore convention, expressly stated: ‘We are opposed to the Aldrich plan for a central bank.’ This was plain language. The men who ruled 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 to shackle us from the cradle to the grave. The Federal Reserve Act destroyed our old and characteristic way of doing business; it discriminated against our one-name commercial paper, the finest in the world; it set up the antiquated two-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 this country the very tyranny from which the framers of the Constitution sought to save us.

Half a million dollars was spent on part of the propaganda organized by those same European bankers for the purpose of misleading public opinion in regard to it, and for the purpose of giving Congress the impression that there was an overwhelming popular demand for that kind of banking legislation and the kind of currency that goes with it, namely, an asset currency based on human debts and obligations instead of an honest currency based on gold and silver values.

Congressional Record of 1932

The devious history of the advent of the Federal Reserve System has been extensively detailed in any number of historical volumes but probably the best and most readable is entitled The Creature from Jekyll Island by G. Edward Griffin. Griffin cites evidence that representatives of some of the greatest men of world finance met secretly at Jekyll Island off the coast of Georgia in 1910 and crafted the details of what would become the Federal Reserve System. Many years later, once the FRS had been institutionalized and even revered in the public’s mind, one of the men who met at Jekyll Island, Frank Vanderlip, made a clear cut admission in the February 9, 1935 issue of the Saturday Evening Post regarding the nature of the meeting:

I was as secretive – indeed, as furtive – as any conspirator… Discovery, we knew, simply must not happen, or else all our time and effort would be wasted. If it were to be exposed that our particular group had got together and written a banking bill, that bill would have no chance whatever of passage by congress…I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System.

February 9, 1935 Saturday Evening Post

President of the National City Bank, Rockefeller representative and international banking insider Frank Vanderlip openly admitted his involvement in the banking elite’s secret construction of the Federal Reserve System some 21 years after it began operations.

As with all crime, secrecy was the key to constructing a central banking authority controlled by the major bankers who could privately dictate monetary policy and thus undermine our constitutional system. Despite the bankers’ circumspection, public suspicions eventually arose due to Senator Aldrich’s ties to the Rockefeller family and the banking elite. So the bankers went back to the drawing board. They changed the name of the legislation from the National Reserve Association bill to the Federal Reserve Act and made some superficial changes to the bill. Fashioning propaganda that the “new” legislation would actually work against the interests of the banking monopolists, they had high profile figures representing Big Banking publicly denounce the measure. Still other point men promoted it
with slogans like “down with Big Banking”. Additionally, it was argued that the legislation was needed in order to prevent bank runs and create a “lender of last resort” so that Americans would not risk suffering the potential loss of their life savings. The strategy worked.


The public, wearied by the anxiety of banking panics, bought in to the notion that whatever was being promoted as bad for Big Banking would be good for them. By virtue of this deception, the Federal Reserve System came into being in 1913 after passing through the House of Representatives and later quietly passing in the Senate by a voice vote on December 23, 1913 wherein all but three Senators were gone to Christmas recess. Had just one Senator been present to voice objection to the absence of a quorum, the act would have faltered.
Instead, it was passed and later signed into law by an unsuspecting President Wilson.

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