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Welcome to the blog of Connor Boyack, a 20-something web designer, political economist, and budding philanthropist.
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The Biggest Scam in History

Posted by Connor on June 28th, 2006

The Federal Reserve System (the “Fed”) supervises our nation’s banks, implements monetary policy, and controls the amount of money created and destroyed each day. The Fed is composed of twelve regional banks.

But there is a big problem with this… The Fed is a de-centralized institution with absolutely no congressional oversight. That’s right: our federal banking system does not report to Congress. They are not held accountable by our government. Not once have they been audited.

Another troubling tidbit of information stems from the issue of ownership. From the wikipedia page:

In Lewis v. United States, the United States Court of Appeals for the Ninth Circuit stated that the “the Reserve Banks are not federal instrumentalities for purposes of the FTCA [Federal Tort Claims Act], but are independent, privately owned and locally controlled corporations.”

That’s right: independent, privately owned and locally controlled corporations. So who owns the regional banks that compose our federal banking system? Who holds the grip on our economic system? Private corporations and individuals, mostly foreign-based. Yes, foreign powers literally own our banking system.

Now, upon further reading and inquiry, you get into a lot of conspiracy theory. I have this to say about conspiracy theories: It is naive to wholeheartedly believe in them without investigation, pondering, and logical discernment; and it is naive to nonchalantly chalk them all up to fallacy and fiction asserting they have no substance that merits further scrutiny.

That being said, there are three web sites worth perusing on this topic.

  1. The Biggest Scam in History
  2. Creation of the Federal Reserve System
  3. Secrets of the Federal Reserve

Read these with a grain of salt, but an open mind. Of special interest are the cited quotes by early American leaders who recognized, like Thomas Jefferson, that “the banking institutions having the issuing power of money are more dangerous to liberty than standing armies”.

It is sad, appalling, and astounding that these facts are not more publicly known. This is further evidence that there are secret combinations shrouded in secrecy in our day. (The Fed meets behind closed doors, and releases its transcripts after a five-year delay.)

Now the cause of this iniquity of the people was this—Satan had great power, unto the stirring up of the people to do all manner of iniquity, and to the puffing them up with pride, tempting them to seek for power, and authority, and riches, and the vain things of the world. (3 Nephi 6:15)

[UPDATE: There is a documentary available on Google video called The Money Masters which discusses this. ]

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3 comments so far. Care to chime in?

Connor, have you ever read Secrets of the Temple: How the Federal Reserve runs the country?

#1 Naiah Earhart | November 26th, 2006 8:16 AM

Nope, but it’s on my Amazon Wish List of items to buy. I’ve thumbed through it – a lot of the facts and stories I’ve read in various places, but I’m eager to buy it nonetheless!

#2 Connor | November 26th, 2006 10:01 AM

Looks like there’s a new documentary exposing the unconstitutionality of the Federal Reserve, based on the book The Creature from Jekyl Island.

The promo version can be watched on google video.

#3 Connor | January 6th, 2007 7:16 PM

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