In 1913 the Revenue Act was passed under conspicuous circumstances. Under the Woodrow Wilson White House, a progressive administration, the fate of the United States passed into the hands of a few men beyond the purview of Congress or the Senate. Under the auspices of monetary stability, America quietly came under the control of a cartel of private bankers who have allegiance to no nation. For 75 years America had enjoyed fiscal independence after President Andrew Jackson had successfully ousted the central bank that had created recessionary and inflationary cycles for the fledgling nation.
Despite several attempts on his life Andrew Jackson succeeded in wresting control of US currency from European bankers. President Jackson had freed the US economy from the hands of foreign influence. America enjoyed unprecedented prosperity during those 75 years free from the grasp of a central bank.
A law that forever altered America
Also known as the Internal Revenue Act of 1913, Woodrow Wilson’s administration unleashed the IRS upon US citizens in what has been a continuing policy of confiscation and intimidation for the decades that have followed ever since. A tax was appropriated that would supposedly replace and lower the cost of imported goods that had been assessed tariffs. This resulted in lower cost of some goods, but placed 1% of the US population making 3 thousand dollars or more per year under a direct tax from the federal government upon their personal income.
Impact on society
Whereas the United States subsisted on import tariffs and other forms of indirect taxes, only years after implementation of the Revenue Act of 1913, this imposition of direct tax considered by our founding fathers to be unconstitutional, assessed upon all US citizens earning wages would become the primary source of revenue for the central government. As a result this excessive taxation has engineered our society in many ways that never could have been anticipated.
Illusion of stability
In the era that followed Andrew Jackson’s ostracizing of the central bank the United States had a real time monetary system based upon US dollars backed by a viable standard of assets that were not manipulated or cooked as he we have seen in recent years within the domain of greedy corporations as well as the US Treasury. Today the illusion of fiscal stability is merely a huge nearly debilitating deficit of over 17 trillion dollars and the continued printing of fiat paper currency that only stalls the inevitable collapse of what’s left of the US dollar’s value.
A history of failure
Under the aegis of consistency and the prevention of banking failures the Federal Reserve’s historic record of guaranteeing monetary continuity resulted in a massive stock market crash in 1929 only 16 years after passage of the Revenue Act in 1913. This led to the Great Depression, the closing of banks that contained the life savings of many of their customers as assets were frozen by bank examiners who declared these institutions insolvent. Not only did many lose their assets such as gold coin, but lost their valuable worldly possessions that had been sheltered in safety deposit boxes. The ownership of gold was stripped from the grasp of American citizens by the federal government as soup lines formed and unemployment grew to shocking levels. Desperation became rampant within the US at that time.
The testimony of Norman Dodd
According to Norman Dodd, a young bank executive, his superiors at Morgan Bank at first ordered him to investigate the events that had led to the huge banking failures of the Great Depression. Dodd undertook his mission with persistence and dedication. Taking a leave of absence from his normal duties Norman Dodd traveled, interviewed, and researched until he had come up with shocking answers. When he returned to make a presentation to the Morgan Senior Bank Management team his work was received quietly with praise, but Norman was told that his findings would be reviewed in due time while he resumed his position as a young Vice President. However, Dodd found himself with few duties and his feet up on his desk much of the time. This puzzled him greatly.
Coming face to face with the real enemy
After several weeks of relative inactivity at his new position Norman Dodd confronted his bosses asking why there had been such a delay in their actions. Their response perplexed him even more. Norman was told by his boss, a Morgan Bank Sr. Mgr. that the American system of banking would never operate as it had again. That it was impossible for the US monetary system to ever operate under sound banking principles again. Norman was told to settle into his new position, to play tennis and golf on the weekends, and that he would eventually receive a generous retirement package when the time came, but Dodd could simply not accept such a bizarre proposition that offended his honest sensibilities. Dodd had uncovered disturbing facts that were not being acknowledged or acted upon! It took more than 50 years and an interview with G. Edward Griffin before this secret agenda was revealed. Just weeks before his death, Norman Dodd exposed a conspiracy of immense proportions that changed America forever and put our Republic within the control of a few influential bankers who have no loyalty to the US at all.
When Dodd tendered his resignation he quickly found himself out of work for the first time in his life. He discovered that he had been black balled by the powerful banking families who were part of the Federal Reserve System. Dodd was never able to secure a job in a bank again in his life. He eventually found employment again as an investment consultant, but Dodd’s contribution to American society is that he gave those seeking the truth about our faulty commerce system and its origins precious insider information. Without such courageous individuals and their brave testimony we would still be wondering why an unexplained sabotage of our economy seems underway.
The intentional deception
Many Americans are under the mistaken assumption that the Federal Reserve is owned by the US federal government, and nothing could be further from the truth even though they attempt to make it appear that way. The Federal Reserve is a separate and privately owned entity that is owned by private banking families who are worth billions, and who have far reaching influence. Many investigative reporters are convinced that the Federal Reserve is behind many clandestine operations (false flag) designed to create political instability and war. Why? Bankers profit from war by financing the purchases of weapons by dealers, third world dictators, terrorists, and espionage operations seeking to overthrow political rivals.
The deadly truth
This corporation can generate trillions of dollars within their computers as conjured up credit to lend and influence governments and world events as they wish to. Able to print currency that is not backed by gold reserves, silver, or any other precious metals the Federal Reserve can buy influence, can impose their will, and can choose politicians who they want in office. America is indeed held hostage under the influence of the Federal Reserve, but as Thomas Jefferson once said, “I believe that banking institutions are more dangerous to our liberties than standing armies.” And he was right.
In Part II we will further discuss how the Federal Reserve has been instrumental in derailing America’s economy and currency.