Dear Editor,
I was totally stricken with frustration to learn, that the current administration in the White House has given the Federal Reserves complete autonomy over our economy. This is like giving starving wolves charge of the hen house.
Since the conception of the Federal Reserves, this nation has suffered numerous recessions, and a deep depression that lasted throughout the 1930’s. A depression they orchestrated! It was admitted to by the present fed chairman Ben Bernanke.
The Federal Reserves is NOT a governmental agency as many have come to believe, it is a private central bank for profit, which controls the issuance of our currency.
The cry by the American people in those days before the creation of the Federal Reserves was to, “break up the money trust” because of the illicit practices of the bankers of those days.
In response to their cry however, the government handed us over to the money trust, with the blessings of the Republicans in Congress, and with a Democrat in the White House.
Before the Federal Reserves, and this fiat monetary system, (which is inflationary by nature), in a day when our currency was backed by gold and silver, inflation was almost non-existent, and the economy had steady growth.
For example, from 1833 to 1890, the price of gold increased one percent and inflation remained relatively the same during that fifty-seven year period. However, since the Federal Reserves, the rate of inflation has risen by more than 1,800 percent and rising.
In essence, they have stolen from our savings, our livelihoods, and from our children’s future. I have only two words to say to this, “STOP THIEF!”
Thomas Jefferson said, “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.
The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
-Michael Donihe

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