Part I: Aldrich-Vreeland Act, Federal Reserve, Jekyll Island
The architects of our economic demise
 | - Doug Hagmann (Bio and Archives) Wednesday, February 27, 2013 |
Every person on the planet is being robbed of their wealth by a select group of people. Worse, they are robbing your children, grandchildren, and further generations of their wealth not yet earned and (by extension) their time not yet invested, while making you believe that their enrichment is your moral obligation. It’s mental conditioning on a grand scale.
How we got here
A significant aspect of understanding why we find ourselves in our current financial mess is to understand exactly how we got here in the first place. Like most events taking place in Washington, DC, we are witnessing the ongoing shredding of the United States Constitution by both sides of the political divide. Yet how many people actually understand that what is taking place is completely unconstitutional? Thanks to the incremental infusion of Communist goals into the legal and societal framework of the fabric of America, people have been intellectually hobbled by a complicit media and a compromised educational system.The founders of our country fought a difficult war of independence to break free of the constraint and oppression of England. The blood that was shed on the battlefield over two centuries ago resulted in the creation of our Constitution.
Article I, Section 8, Part 5 of the United States Constitution states that “[T]he Congress shall have the power to coin money, regulate the value thereof…” Yet, that has been violated to the detriment of all Americans. So, what is the truth?
There is a rich history of our country’s monetary system, and significant events that occurred before the twentieth century. For example, why have some of the real factors for the War of 1812 been expunged from our history books? There is no mention of our forefathers’ refusal to permit a central bank to run America, thereby creating antagonism with England. What were the causes of the previous financial panics that struck America in her early years? History has been revised. But for the sake of brevity, we’ll begin with the events of last century and end with the present.
In all conspiracies, there must be great secrecy
In response to a Wall Street orchestrated financial panic in 1907 that saw a 50% fall in the stock market, a National Monetary Commission was created by the U.S. Congress in 1908 and signed into law by President Theodore Roosevelt. It was a “study group,” ostensibly to prevent further financial panics and economic troubles. Known as the Aldrich-Vreeland Act, it was a Republican-led initiative introduced by Senator Nelson Aldrich. It is important to note that Senator Aldrich was a business associate of J.P. Morgan, and the father-in-law of John D. Rockefeller. He was ultimately named head of the National Monetary Commission, a group that spent two years in Europe studying the structure of their banking and financial system.Two years later, and under the cover of darkness, a meeting of about a half-dozen of the wealthiest people in America took place amid great secrecy on an island just off the coast of Georgia. The meeting was set up by Aldrich himself and held on Jekyll Island, which was purchased in 1888 by J.P. Morgan and William Rockefeller (the brother of John D. Rockefeller).
Late on the night of November 22, 1910, Senator Nelson Aldrich, his personal secretary, and six of the wealthiest men in the world[ia] stealthily boarded Aldrich’s personal rail car in Hoboken, New Jersey to make a trip of nearly a thousand miles to this remote location, where no media or others outside of this clique were allowed.
In addition to Aldrich and his personal secretary, the other men who secretly boarded that rail car included A. Piatt Andrew (the Assistant Secretary to the U.S. Treasury, and Special Assistant to the National Monetary Commission),Frank Vanderlip (President of the National City Bank of New York), Henry P. Davison (senior partner at J.P. Morgan Company, and considered Morgan’s personal emissary), Charles D. Norton (President of the First National Bank of New York, a Morgan dominated bank), Benjamin Strong (also of J.P. Morgan), and Paul Warburg (a German immigrant working for Kuhn, Loeb and Company).[ii]
The unprecedented secrecy surrounding this nine-day conference on Jekyll Island was such that the attendees were only permitted to use first names of others, causing some to refer to the group as “The First Name Club.” Unbeknownst to all Americans, the framework was being set for the greatest financial Ponzi scheme that still exists today.
The Federal Reserve Act of 1913
As a result of that secret meeting on Jekyll Island in 1910, the Federal Reserve (or “Fed”) was created after a three-year long magic act designed to fool the American people into believing that the Federal Reserve was something it was not. On December 23, 1913, President Woodrow Wilson signed the Federal Reserve Act into law after it passed in a nearly empty Capitol chamber,since many lawmakers had already departed for the Christmas holiday.It is important to understand that, during the three years between the meeting at Jekyll Island and the passage of the Federal Reserve Act, there is a rich history of deception and subterfuge. This included influencing the presidential election that brought Woodrow Wilson (governor of New Jersey, and former president of Princeton University) into office, over popular incumbent William Howard Taft. Historians could rightfully assert that the primary (and perhaps only) purpose of getting Wilson elected as U.S. President at this time was in order to assure that a central banking system would be signed into law.
President William Howard Taft was the incumbent, and favored for re-election. The Republicans also held a majority in both houses of Congress. It was not until the former Republican President Theodore Roosevelt (the creator of the National Monetary Commission) entered the race as a third party candidate that Taft was threatened. Roosevelt was highly funded by members of both parties who wanted a central banking system put in place in the United States. The entry of Theodore Roosevelt split the vote, and Woodrow Wilson was elected.
Two figures who played a very prominent role in the creation of a central bank, and the passage of the Federal Reserve Act behind the scenes, were Paul Warburg (a German immigrant) and Colonel Edward Mandel House from Texas. Both had European connections. House was a friend of he most powerful man in America at that time - President Woodrow Wilson. He also had connections to the Rothschild money dynasty in London. The influence of Colonel House over two presidential administrations is without question. Accordingly, he and his ideology warrant a closer look.
“Colonel” is only a nickname, as he had no military experience, just an odd and influential friendship with U.S. President Woodrow Wilson. House was active in Texas politics, and became an advisor to Wilson in foreign affairs. Much like today, access to the President appears to hinge on “excess,” or how much money one has. According to one account, House reportedly showed up at the Wilson White House with a $35,000 political contribution.[iii]
In 1911, House anonymously published a novel titled Philip Dru: Administrator, in which the main character causes a civil war in the United States and then becomes a dictator. As dictator, the character Dru turns the U.S. into a Socialist nation - a Socialist utopia, as dreamed by Karl Marx. The cumbersome novel seemed to serve as a blueprint for President Wilson. Then later,it influenced President Roosevelt, in terms of the implementation of socialist programs.
It is interesting that House, an avowed Socialist, viewed the enactment of the Federal Reserve as the crowning achievement of the Wilson administration.[iv] Among other decidedly Socialist “reforms,” House (personally and through his novel) actually called for the creation of the Federal Reserve, or a central banking system.[v] A centralized banking system, along with a progressive or graduated income tax, is one of the ten planks of the Communist goals.
What’s in a name?
Before the Federal Reserve Act was signed into law, it was initially known as the Aldrich Plan, named after Senator Nelson Aldrich. To positively impact public opinion, national banks organized a propaganda campaign through three American Universities: Princeton, Harvard, and the University of Chicago. The banks contributed $5 million to this propaganda campaign, much of it spent by the National Citizens’ League, an organization composed primarily of college professors.As facets of the Republican Aldrich Plan became known, however, there was staunch opposition launched against it by Democrats, who presented their own plan in the form of the Federal Reserve Act. It is here - at this point in American history - that the Republican-Democrat political paradigm seems to have been essentially and forever dissolved. Much print space could be dedicated to this time period in history alone, that would enlighten readers to the collusion between parties at their highest and most powerful levels, in order to fool the American people.
Perhaps one of the most disingenuous feats during this period was this inter-party collusion for the centralization and control of our national monetary system. The illusion of dueling plans was thrust upon the American people by a simple name change. The Aldrich plan was associated with the Republicans. The Federal Reserve plan was associated with the Democratic party. The difference was in name only.
Despite the identical nature of the plans, those pushing for a central banking system made it appear that they were at odds with each other. Aldrich joined with Frank Vanderlip, president of the National City Bank, to publicly denounce the Federal Reserve Act.
The people of the United States had fought previously against the implementation of a central banking system under Presidents Thomas Jefferson and Andrew Jackson, when the Rothschild family attempted to install such a system (and briefly succeeded via The First Bank of the United States and the Second National Bank, respectively). Therefore, the advocates of the Federal Reserve Act wanted to hide the fact that it was really a centralized banking system.
Accordingly, one of the architects at Jekyll Island, Paul Warburg, devised the plan to set up a series of regional banks throughout the U.S., in order to make it appear that the Federal Reserve was not a central bank. Additionally, Warburg also seemed to alleviate concerns over who would oversee the appointments to head the Federal Reserve by making it appear that the U.S. government had full authority over such appointments. Actually, appointments were (and are) made from a list of “acceptable candidates” provided by the Federal Reserve alone.
After the political theater that made it appear that the Republicans and Democrats were at odds with each other, the objective of the architects of a central banking system prevailed. As previously noted, the Federal Reserve Act was signed into law by President Woodrow Wilson on December 23, 1913.
Wilson apparently realized what he had done. In 1916, Wilson wrote, “Our system of credit is concentrated [in the Federal Reserve]. The growth of the nation, therefore, and all our activities, are in the hands of a few men.”
London bridges
The creation of the Federal Reserve concentrated the power, wealth, and industry of the United States into the control of a handful of people, including J.P. Morgan who was (for all practical purposes) an emissary for the Rockefeller dynasty. But it was not only the Rockefellers who benefitted from this devious plan; the Rothschild family of London also controlled the wealth of the U.S. by proxy. The Rothschilds also took over the Vatican Bank in 1824.It is becoming clear that all roads and bridges lead to the bankers of London. Not just to London, but a specific area within London—a city within a city. It is within this magical mile where the root of untold wealth and power exists. It is here where its denizens control men and might, plan wars and “a New World Order.”
Accordingly, honest investigation into the creation and continued existence of the Federal Reserve must include identifying the people behind its creation, as well as its current existence.
“Thou doth protest too much”
Additionally, honest investigation and research into the Federal Reserve, past and present, would not be complete without looking at its “protagonist threats” and their fates. Examples can be found in President Abraham Lincoln (who issued “Greenbacks”), President James A. Garfield (who suggested serious monetary reforms just before his assassination in 1881), and of course, President John F. Kennedy.It is applicable to introduce Louis Thomas McFadden, a Republican member of the U.S. House of Representatives serving from 1923 to 1935. He was a member of the House Banking and Currency Committee, and had a working understanding of what the central bankers and the power elite were doing to the United States.
On June 10, 1932, Rep. McFadden addressed the House of Representatives with this important message [emphasis added]:
“Some people think the Federal Reserve banks are United States Government institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers. The Federal Reserve banks are the agents of the foreign central banks. Henry Ford has said, ‘The one aim of these financiers is world control by the creation of inextinguishable debts.’ The truth is the Federal Reserve Board has usurped the Government of the United States by the arrogant credit monopoly which operates the Federal Reserve Board and the Federal Reserve Banks.”
Based on his analysis of the treachery taking place by the Federal Reserve and its enablers, McFadden introduced House Resolution No. 158, Articles of Impeachment on May 23, 1933 against the Secretary of the Treasury and two Assistant Secretaries of the Treasury; the Federal Reserve Board of Governors and the officers and directors of the Federal Reserve Banks for their guilt and collusion in causing the Great Depression.
McFadden stated: “I charge them with having unlawfully taken over 80 billion dollars from the United States Government in the year 1928, the said unlawful taking consisting of the unlawful recreation of claims against the United States Treasury to the extent of over 80 billion dollars in the year 1928, and in each year subsequent, and by having robbed the United States Government and the people of the United States by their theft and sale of the gold reserve of the United States.”
Rather than a bullet, McFadden was instead marginalized by rumors that he was legally insane. The Progressives of that era heavily funded his political opposition. Between the allegations of his insanity and the money furnished to his opposition, McFadden lost his congressional district and faded into relative obscurity. The impeachment resolution never saw the light of day.
Franklin Delano Roosevelt
Quietly backed by the Socialist and Communist parties, Roosevelt was elected President in 1932, ostensibly to end Wall Street domination and free the American people from the evil domestic banking cartel and its equally evil international influences that caused the Great Depression.But who was Roosevelt? He was himself was an international banker who floated large issuances of foreign bonds in the U.S. during the 1920s. He was also the was President and Director of United European Investors, Ltd., which also floated millions of German marks in this country. Like the pattern we have witnessed more recently, the bonds defaulted and Americans collectively lost millions of dollars.
Perhaps most telling were his associations. Upon taking office, Roosevelt appointed James Paul Warburg, son of Paul Warburg, as Director of the Budget and Vice President of the International Acceptance Bank and other corporations.
Moving quickly through history, there were a number of significant events related to the Federal Reserve and our economy that brought us to this most dangerous point in history.
Glass-Steagall Banking Act of 1933
Partly due to the Great Depression, the Glass-Steagall Act of 1933 essentially separated commercial and investment activities by banks.Enacted in part as a result of the findings of the Pecora Commission, an investigation of the events that led to the Wall Street Crash of 1929 and the Great Depression, the commission’s findings led to the Glass-Steagall Banking Act.Most telling about the secrecy and conspiracy of the central banks, bankers and the Federal Reserve is an entry in the memoir of Ferdinand Pecora, published in 1939:
“Bitterly hostile was Wall Street to the enactment of the regulatory legislation. Had there been full disclosure of what was being done in furtherance of these schemes, they could not long have survived the fierce light of publicity and criticism. Legal chicanery and pitch darkness were the banker’s stoutest allies.”
The Banking Act of 1935
This legislation greatly increased President Franklin Delano Roosevelt’s power over the country’s finances and accordingly, his power as president. It repealed the specific clause of the Glass-Steagall Act that provided that a banking house could not be on the Stock Exchange and also be involved in investment banking. The most essential provision of the Glass-Steagall Act was repealed in 1935, thus permitting the Federal Reserve Banks to loan directly to industry.Summary of Part I
“The dollar represents a one dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy Government bonds from the United States Treasury, lending money into circulation at interest, by bookkeeping entries of checkbook credit to the United States Treasury. The Treasury writes up an interest bearing bond for one billion dollars. The Federal Reserve gives the Treasury a one billion dollar credit for the bond, and has created out of nothing a one billion dollar debt which the American people are obligated to pay with interest.”—Money Facts, House Banking and Currency Committee, 1964, p. 9It is clear that the Federal Reserve and central banks across the globe represent a shadowy, elite group of the wealthiest and most powerful men on this planet. The central bankers finance wars, often all sides of the conflicts, loaning money for war materials for their own financial gain.
Because of the very manner in which it was established, our current economic system is untenable and is destined for collapse, leaving only those elite with the riches stolen from the American people.
Is there a conspiracy of global takeover, of a “New World Order,” of global governance that has been in the works since the United States gained independence from Great Britain? The honest answer is undeniable: yes.
I’ve attempted to cover as much history in Part I to establish the groundwork and backdrop of Part II: Who is responsible today for robbing the Americans of our wealth, our heritage, our freedom, and our country. Today, we have men and women in power who, by the very definition of the word, are involved in the greatest conspiracy to be thrust upon America and all of the world. By definition, they are traitors to our country, and will be responsible for the collapse of the United States. They must be identified and exposed. But to adequately and effectively do so, it is important to understand the history of the conspiracy of which we are the victims.
When the U.S. dollar collapses, who will appear to be our savior, rescuing the United States from economic destruction through restructuring? I contend that our salvation, which will be our imprisonment, will rise from the seat of economic power - a city within the city of London. The significance of this cannot be understated, as we will be facing the end of our country and our freedoms. It will be the final stage of the implementation of global governance.
Perhaps then people will understand the significance and true meaning of the opening ceremonies of the 2012 London Olympics.
[ia] Extensive research for this report noted conflicting reports pertaining to the identities of the attendees of this meeting, even 100 years later.
[ii] Eustace Mullins, The Secrets of the Federal Reserve (Bridger House Publishers, Inc., Carson City, Nevada, 1991), pages 1-2.
[iii] Ibid, page 26.
[iv] George Viereck, The Strangest Friendship in History: Woodrow Wilson and Col. House (Liverwright, New York, NY, 1932) page 45.
[v] Edward Mandell House, Philip Dru, Administrator.
Copyright © Douglas Hagmann
Douglas J. Hagmann and his son, Joe Hagmann host The Hagmann & Hagmann Report, a live Internet radio program broadcast each weeknight from 8:00-10:00 p.m. ET.
Douglas Hagmann, founder & director of the Northeast Intelligence Network, and a multi-state licensed private investigative agency. Doug began using his investigative skills and training to fight terrorism and increase public awareness through his website.
Doug can be reached at: director@homelandsecurityus.com
Older articles by Doug Hagmann
Douglas J. Hagmann and his son, Joe Hagmann host The Hagmann & Hagmann Report, a live Internet radio program broadcast each weeknight from 8:00-10:00 p.m. ET.
Douglas Hagmann, founder & director of the Northeast Intelligence Network, and a multi-state licensed private investigative agency. Doug began using his investigative skills and training to fight terrorism and increase public awareness through his website.
Doug can be reached at: director@homelandsecurityus.com
Older articles by Doug Hagmann
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