The Secrets of the Federal Reserve (Google eBook)

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Aware Journalism, Jun 1, 2009 - Business & Economics - 201 pages
4 Reviews

 Mullins presents some bare facts about the Federal Reserve System with subjects on: it IS NOT a U.S. government bank; it IS NOT controlled by Congress; it IS a privately owned Central Bank controlled by the elite financiers in their own interest. The Federal Reserve elite controls excessive interest rates, inflation, the printing of paper money, and have taken control of the depression of prosperity in the United States


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This book is exceptionally well cited and documented. It covers the tale of our current global financial situation from its inception at "Mayer Amschel Bauer's Goldsmith Shop in Frankfurt in 1773. Bauer, who adopted the name "Rothschild" or Red Shield from the red shield which he hung over his door to advertise his business."
If even a small but significant fraction of society were to read this book it would only take an election cycle or two for real changes to take place. I read this book with a highlighter in hand. I could have highlighted something of importance on every page.
The directors of the Federal Reserve System have all along been able to get away with every scenario they chose to enact because the people were not able to understand what was happening. They were led to believe that mysterious forces caused great and bad things to happen. That's totally hogwash. The only reason they were able to get away with this for so long, there was no internet. We now have the power to learn together and share our findings so that once esoteric facts become common knowledge. There is a whole lot of truth in the expression knowledge is power.
Reading this is a relatively small time to invest in something so important at this moment in our history. We can stop this cycle of feast and famine, we just need to create a political will in the people to get it done.
From Chapter 13 --
Before the House Banking and Currency Committee on June 24, 1941, Governor Eccles said:
"Money is created out of the right to issue credit-money."
Turning over the Government’s credit to private bankers in 1913 gave them unlimited opportunities to create money. The Federal Reserve System could also destroy money in large quantities through open market operations. Eccles said, at the Silver Hearings of 1939: "When you sell bonds on the open market, you extinguish reserves."
Extinguishing reserves means wiping out a basis for money and credit issue, or, tightening up on money and credit, a condition which is usually even more favorable to bankers than the creation of money. Calling in or destroying money gives the banker immediate and unlimited control of the financial situation, since he is the only one with money and the only one with the power to issue money in a time of money shortage. The money panics of 1873, 1893, 1920-21, and 1929-31, were characterized by a drawing in of the circulating medium. In economical terms, this does not sound like such a terrible thing, but when it means that people do not have money to pay their rent or buy food, and when it means that an employer has to lay off three-fourths of his help because he cannot borrow the money to pay them, the enormous guilt of the bankers and the long record of suffering and misery for which they are responsible would suggest that no punishment might be too severe for their crimes against their fellowmen.

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User Review  - Pat - Goodreads

Great Ref, Not an easy read however Read full review


Chapter Four The Federal Advisory Council 40
Chapter Seven The Hitler Connection 69
Chapter Nine The Agricultural Depression 114
Chapter Fourteen Congressional Expose 171

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