The “One Ring” of the Federal Reserve

“One Ring to Rule them All… and in the Darkness Bind Them.” – from J.R.R. Tolkien’s ‘The Lord of the Rings’

When I talk to people who have never even heard of the Federal Reserve, I often use an analogy based on the above quote from The Lord of the Rings trilogy. (That is after I first disavow them of the notion that the dollar is loosely backed by gold, which even I will admit believing was true just two years ago.)  (Photo courtesy Playadura license)

Today’s FED is a group of bankers who have the “Money Power” over all other banks and the money supply. This awesome power is like that of Tolkien’s One Ring, which controlled all of the other Rings of Power worn by men, elves, and dwarves. Can you imagine what YOU could do if you could snap currency into existence simply by writing a check to yourself? I’ve described this money power here “Fractional Reserve Banking in Pictures.”

Washington, DC is like Mount Doom. It is the only place that the Ring can be unmade, destroyed, and the money power returned to We the People.  Beyond the mother of all bank runs, only the Congress or the Supreme Court has the power to abolish the FED.

Frodo Baggins is no other than Congressman Ron Paul (R-TX). For most of his political career spanning 30 years, he has been isolated, sounding the clarion call for honest money from the fraudulent bankers upon the deaf ears of his fellow lawmakers. He has been struggling to place the banker’s precious Ring in the fires of Mount Doom, and return prosperity to the land by ridding it of an evil, barbarous, immoral relic, the FED.

Faithful Sam Gamgee is none other than those who support Frodo and sound money, and assist him in his quest to unmake the bankster’s evil Ring.

It is people like the Liberty Candidates (see the right sidebar here for my list) who are trying to save their country by running for US Congress.  It is even people like me, just an engineer, who returned home and with the notion in mind to take on the multi-million dollar Establishment party election machine in my district and run for US Congress, starting with just a pen and my voice simply because I have a message to share and I refuse to live any other way.  I’ve been fortunate enough already to have a chance to make several speeches about the FED, like the one below.

For some historical context, central banks are nothing new to the United States. Heroes of liberty have been constantly fighting to eliminate them since our nation’s founding. Previously, like in the case of President Andrew Jackson’s stirring presidential campaign, the central bank was soundly defeated and abolished in 1832.

As Rothbard writes in The Case Against the FED, in the 1800s, American banks were still fairly independent after the honest-money Democratic President, Andrew Jackson, literally “routed out” the central bank in 1832 until Lincoln’s Republicans expanding the banker’s powers with the National Banking System during the Civil War. (Rothbard, p. 78-83/162) (photo)

When the Wall Street bankers of the late 1800s dreamed up the FED, they were doing so because under the NBS they were not able to inflate (or drop the purchasing power of the dollar by expanding the money supply, in the process making everyone poorer) evenly across all banks. The next and ongoing incarnation, the Federal Reserve, was established by Congress’s Federal Reserve Act of 1913.

Representative McFadden brought formal impeachment charges against the Federal Reserve Board of Governors, the Comptroller of the Currency and the Secretary of the Treasury charging them with theft, fraud and treason, among others. Congressman McFadden was almost certainly murdered by those he opposed. By happenstance, I grew up in McFadden’s congressional district and recently returned from abroad to run for his former office in 2010.  Here is an excerpt I quoted in the above speech here.

“On account of [the Federal Reserve], we ourselves are in the midst of the greatest depression we have ever known. From the Atlantic to the Pacific, our Country has been ravaged and laid waste by the evil practices of the Fed and the interests which control them. At no time in our history, has the general welfare of the people been at a lower level or the minds of the people so full of despair… They are the victims of the Fed. Their children are the new slaves of the auction blocks in the revival of the institution of human slavery.“

- Congressman Louis T. McFadden, Pennsylvania’s 15th District, from the  1934 Congressional Record (photo)

What is the cost of freedom? Did you think that freedom was free?  That merely being born in the USA is enough to lay your claim to freedom?

America was once a sanctuary for the poor, the hungry, the oppressed and downtrodden to make better lives for themselves.  However, our government has been slowly replacing the psychological shackles that some of our forefathers initially fled Europe and elsewhere to escape.  Our government has been slowly fastening the same iron shackles that some of our forefathers wore when they arrived from Africa.

It is time for this farce to end.  Led by the Gray Champion, freedom will come to our land once again if the people recognize that yet again we are all oppressed, that we all wear a gigantic ball and chain that is our monetary system and idiotic government behavior.  If monetary policy must be the first shackle that draws noticeably amounts of blood before the chains are broken, so be it. (photo)

As this short cartoon - apparently from 50 years ago – shows, it is time to stand up like John Q. Public and defend your country from the ISM potion that is currently being force-fed to us by the powers-that-be if our country is to recover its prosperity.

The price of liberty is eternal vigilance, and it’s not all that expensive we pay it together. Help me pay this toll and volunteer.  In the coming 10 months, if all goes well, We the People in my home district and  all the campaign’s volunteers will have earned the nickname of the Fighting Fifteenth!

Jake Towne, the Champion of the Constitution

December 30, 2009

P.S. – Please understand that my independent candidacy is not endorsed by Congressman Paul. This article has been modified but was first published here in May.  My Federal Reserve plank contains links to some of the articles I’ve written on the FED.

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Source List and Recommended Articles by the Author

Jackson, Andrew. “Why the United States Bank was Closed.” (1832).  President Jackson outlines the evils of central banking and explains why he closed the country’s central bank, which was a predecessor of the Federal Reserve.  Fueled by an indomitable will, Jackson succeeded.

McFadden, Louis T.  “Congressman McFadden’s Speech on the Federal Reserve Corporation.” (1934).  A passionate plea to Congress to impeach the Fed Board of Governors and the Secretary of the Treasury.  McFadden was probably assassinated.  His name is blackened by anti-Semite charges per Wikipedia, although there is no mention of this in his speech.  A refutation of his speech is here, in my opinion it is toothless.

Rothbard, Murray N. 1990. What has the Government Done with Our Money? 4th ed.  Auburn, AL: Ludwig von Mises Institute.  A must-read!

Rothbard, Murray N.  1994.  The Case Against the Fed. Auburn, AL: Ludwig von Mises Institute.

If you would like to donate to my campaign in 2009 prior to the yearly close, please click the link below.  As mentioned here in the latest donor report detailing how funds have been used, your donation is highly appreciated and will be put to good use advancing the campaign’s mission.

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

As always, unlike the NFL, the author grants full permission to allow any accounts of, rebroadcasts, retransmissions, repostings of this article to your blog or anywhere else in order to promote the Restoration of our Republic.

Veritas numquam perit. Veritas odit moras. Veritas vincit. Truth never perishes. Truth hates delay. Truth conquers.

Tu ne cede malis sed contra audentior ito. Do not give in to evil but proceed ever more boldly against it.