Tuesday, April 8, 2008

Who Does the Fed Serve? (George F. Smith)

George F. Smith on the evil Federal Reserve and how the U.S. entered World War I to save the necks of the Morgans who stood to lose millions in bad loans to the British:

In testimony last week, Ben Bernanke told Ron Paul that the government created the Federal Reserve in 1913 to stop the “periodic financial crises” that erupted in the 19th Century and again in 1907. Bernanke, evidently, was counting on Paul holding the accepted view of the Fed’s origins, the one untainted by Wall Street-government conspiracy -- not the view meticulously presented in the works of Kolko, Rothbard, and Griffin, among others.

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