As Americans we should demand a repudiation of these Bank and Federal Income Tax Acts and all subsequent banking and tax legislation, and demand a return to the honest banking principles of our forefathers and an end to the self-serving European style Central cartel banking system.
While not the only possible reform, one reform proposal is the Monetary Reform Act developed, in its essentials, over many years by numerous monetary reformers including the late Nobel Laureate, Dr. Milton Friedman.
Any genuine reform of our monetary system must include two basic elements:
fractional reserve lending must be prohibited,
and private banks must be forbidden from creating money, whether as loans or otherwise.
The Monetary Reform Act does both. It also incorporates means of doing this that include paying off the huge national debt, and stabilizing the economy.
Don’t expect lawyers to support this. Whereas the banks retain certain law firms, and pay them annual retainers, whether they act or not, and, furthermore they are the first paid with the ever new purchasing power created by the banks at the moment of the new money (debt) issuance and when its purchasing power is at its peak, so they love the status quo, and will not reform.
Don’t expect accountants to support this. Whereas big accountancy is always paid, as above, for audits and consultancy and so they love the status quo.
Don’t expect insurance companies to support this. Whereas the banks insist upon insuring all the assets which they lend against, then the insurance industry, too, has a vested interest in the status quo.
Don’t expect the financial markets to support this. Whereas stock brokers, security dealers etc., etc., invest the money which the above mentioned institutions dispense and, so they love the status quo.
Don’t expect a cry for reform from our mortgaged priests and ministers. Also, politicians need the banks especially at election time, so don’t expect any truth from them. The ad revenues on which the media survive come from all of the above, so don’t expect the truth from ‘journalists,’ their TV or newspapers. All of these above will continue to devour your wealth and make your children and grandchildren and great-grandchildren indentured slaves to their autocracy.
“We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it.” – Congressman Louis T. McFadden
Just as Eden was corrupted by Satan and Eve’s seduction of Adam, so too, on the national level, America was corrupted by the satanic bank/tax act of 1913 and the overweening socialism of Eve’s suffragettes who seduced American manhood.