Louis McFaddenLouis McFadden, (1876-1936) US Congressman (R-PA) (1915-1935), Chairman of House Banking and Currency Committee. Poisoned in 1936.

Louis McFadden Quote

“Some people think the Federal Reserve Banks are US government institutions. They are not... they are private credit monopolies which prey upon the people of the US for the benefit of themselves and their foreign and domestic swindlers, and rich and predatory money lenders. The sack of the United States by the Fed is the greatest crime in history. Every effort has been made by the Fed to conceal its powers, but the truth is the Fed has usurped the government. It controls everything here and it controls all our foreign relations. It makes and breaks governments at will.”

Louis McFaddenLouis McFadden
~ Louis McFadden

June 10, 1932 

Ratings and Comments

Mike, Norwalk

And now that it has authority to brandish any implement of war it deems plausible or necessary, be very, very, VERY afraid of what's next.

Waffler, Smith, Arkansas

McFadden was an anti-semitic Hitler loving and Jew hating pig. He sponsored an impeach Hoover effort that was defeated by 361 to 8 votes. Two attempts were made on his life. While some abhor ad hominem arguments, sometimes we are compelled to consider the source. As far as the substance it is all BS. Why do people often say that the US is the richest country in the world if we have been sacked by the Fed. If it can brake governments at will why don't we just use it and disband our military.

Bryan Morton, Stuart, FL

The quote is from '32. Consider that in the light of where we are now. The only reason the Fed has the monopoly on currency is the legal tender laws imposed by government. Claiming that the two are at odds with each other is part of the swindle. Government produces nothing. So to fund the welfare, warfare, industrial, congressional complex, it either taxes, which it can only do to a certain extent before we break out the torches and pitchforks, or it can create fiat currency, which causes debt and inflation always followed by economic depression.

Joe, Metropolis, IL

McFadden was right on target.

jim k, austin

Waff, perhaps you can explain why our congress allowed a private banking organization which is never audited to control our money supply ,set interest rates and have money printed at their behest. This is ,or should be, the job of the US congress.As to your last inane statement, we don't use the Fed, it uses us.

Me Again
  • 2
  • Reply
    Me Again    10/21/08

    I believe that the time wil come when "We The People" will right the wrong but I believe that a nation wide catastrophe that touches every American will have to occur first to truly unite US on this matter.The time is nearing I do believe.

    E Archer, NYC

    It is a shame that simple-minds are so easily swayed by rumor and inuendo than by simple facts. McFadden took on the Fed as Chairman of the House Banking and Currency Committee just as plans were being formed to require all US citizens to turn in their 'illegal' gold (i.e. ALL their money) in the greatest heist ever pulled off. So smear the man by calling him anti-semitic (a common and shallow scare tactic -- like the 'race card'). Just because someone points out that the jewish Rothschild family and their minions control the world's money, doesn't make a person anti-semitic any more than disliking Farrakan makes a person a racist. McFadden was right on and paid for it with his life -- as have many who have dared to stop this economic slavery. In fact, we are ALL paying for it with our lives!

    Waffler, Smith, Arkansas

    Jim K, the Fed is a creation of the US Congress, It is not private it the way you seem to think. Neither is the TVA. It is not true that government produces nothing. It sets the parameters, establishes priorities, sets laws for things such as corporations, bankruptcy etcetera. Government is therefore foundational for the way society functions. Palin or McCain accuses Obama of socialism but she presides over the transfer of Alaskan oil company revenues to her citizens to the tune of $1200 to each man, woman, and child. Beyond that Americans die and bleed for Kuwaitis who basically live on oil stipends from their government and we spent 4000 plus of our peoples lives for Iraq which is now trying to figure out how to distribute its oil revenue to its people. So a tax cut for middle class Americans is socialism, GIVE ME A MAJOR BREAK!

    • Reply
      Anonymous    3/22/09

      Yeah about break... go break a neck.

      J Carlton, Calgary

      The FED is a creation of a few select and behind closed doors Bankers. They managed to sneak some rotten legislation through a Congress on a Christmas Eve when almost no one was present, save for a few bought and paid for Congressmen. The souce of this evil cabal is Meyer Rothschild and it began in the mid-late 1700's in England. Do some homework Waffler.

      E Archer, NYC

      The Federal Reserve IS PRIVATELY owned, Waffler. It is NOT a government agency -- the proof has been provided over and over. There is no secret, other than perhaps who are the current shareholders of the Fed, but the original shareholders were the major banking houses and the families that own them, like the Rothschilds, Rockefellers, Morgans, Warburgs, etc. Anyone in the finance business here in NYC knows this -- that is why they are there. Being able to create money out of nothing and loan it to governments and big business at interest is a racket everyone wants to get into. It is a huge racket, and since it is very dangerous to challenge it, most succumb to its temptations.

      Ice, Metamora

      Waffler - Are you serious? You actually believe the Fed Res is a government institution?? OMG!!! Talk about people running around with their eyes closed and their brains turned off !! Why don't you use the pc and google some REAL FACTS. It's no wonder we're in such deep doo doo... Too many mindless zombies out there that are too lazy to do a little research (and this issue is the easiest of them).

      Patrick Henry, Red Hill

      "For the love of money is the root of all evil."
      ~ Timothy 6:10

      "In a time of universal deceit - telling the truth is a revolutionary act."
      ~ George Orwell

      Mr. McFadden was martyred for expressing himself forthrightly.

      Thus has it ever been, since the time of the Fall.

      jim k, Austin

      The love of money may be the root of all evil, but the lack of money runs it a close second.


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