Posted 5 years ago on March 17, 2012, 11:59 a.m. EST by Underdog
from Clermont, FL
This content is user submitted and not an official statement
The below quote is from "Web of Debt" by Ellen Hodgson Brown, page 127.
"In 1934, in the throes of the Great Depression, Representative Louis McFadden would go farther, stating on the Congressional record:
Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers: and rich and predatory money lenders. In that dark crew of financial pirates there are those who would cut a man's throat to get a dollar out of his pocket; there are those who send money into states to buy votes to control our legislatures; there are those who maintain International propaganda for the purpose of deceiving us into granting of new concessions which will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime.
These twelve private credit monopolies were deceitfully and disloyally foisted upon this Country by the bankers who came here from Europe and repaid us our hospitality by undermining our American institutions."
Above source quote from Congressman McFadden on the Federal Reserve Corporation, Remarks in Congress, 1934 (Boston: Forum Publishing Co.), including excerpts from Congressional Record 1932, pages 12595-96.