Some people who think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lender. In that dark crew of financial pirates there are those who would cut a man's throat to get a dollar out of his pocket; there are those who send money into states to buy votes to control our legislatures; there are those who maintain International propaganda for the purpose of deceiving us into granting of new concessions which will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime.The more things change, the more they stay the same. You still think this isn't going on? If no one has stopped it, and it makes certain people a lot of money, then why should it be stopped? Louis McFadden would no doubt be called a kook by the conservative media of today. Actually, they would check the letter by his name first before they could begin to consider the merit of what he had to say. That's just how shallow those caught in the dialectic's mind trap are.
These twelve private credit monopolies were deceitfully and disloyally foisted upon this Country by the bankers who came here from Europe and repaid our hospitality by undermining our American institutions. Those bankers took money out of this Country to finance Japan in a war against Russia…Mr. Chairman, there should be no partisanship in matters concerning banking and currency affairs in this Country, and I do not speak with any.”
Oh, and McFadden "impeached Herbert Hoover" according to this 1932 edition of Time Magazine:
No man in the House hates President Hoover more intensely than he. Last session he accused him of treason in granting the Debt Moratorium (TIME, Dec. 28). He has fought the Hoover financial policy at every turn.McFadden's list of grievances:
- Herbert Hoover . . . unlawfully usurped legislative powers
- ... a policy inimical to the welfare of the United States
- . . . unlawfully dissipated financial resources
- . . . injured the credit and financial standing
- ... his declaration of the moratorium has meant sacrifices by the American people
- . ... He did appoint one Andrew W. Mellon Ambassador while a resolution for the impeachment of the said Mellon was being heard
- . . . . Treated with contumely the veterans
- . . . sent a military force heavily armed against homeless, hungry, sick, ragged and defenseless men, women and children and drove them out by force of fire and sword. . . .
Sounds familiar to me.