New York Times Falsifies History of Federal Reserve

Dear Readers, 
This article exposes how mass media has misinformed the public about the history of the federal which is SO IMPORTANT in understanding the current financial crisis America faces.  “I hope we shall crush in its birth the aristocracy of our monied corporations which dare already to challenge our government to a trial by strength, and bid defiance to the laws of our country” Thomas Jefferson. Stand up for FREE PRESS!

Reposted from


By Michael Collins Piper

The New York Times published a flat-out untruth on Feb. 7 about the Federal Reserve Act of 1913. And the untruth came from the pen of a distinguished American academic who is author of many much-touted works of history. 

In a commentary in the Times, entitled “The Value of Other People’s Money,” Dr. Melvin I. Urofsky, a professor at Virginia Commonwealth University, reflected on the origins of the congressional measure that created the Federal Reserve System. He said that the measure “allowed Congress to take away banks’ control over currency.” In fact, nothing could be further from the truth.

Dr. Urofsky was dead wrong. The New York Times was guilty of perpetrating a falsehood, something which should come as no surprise, considering the fact that The New York Times—which fancies itself America’s newspaper of record—has long been the daily media voice in the United States of the international banking dynasties that control the American money system through their domination of the Fed. 

The truth about the nature of the Fed is no secret to Americans who have access to independent newspapers such as AMERICAN FREE PRESS, historical journals such as THE BARNES REVIEW and radio outlets such as Republic Broadcasting and The Alex Jones Show (which can be found on the Internet at and

In fact, as far back as the 1920s, the great American industrialist Henry Ford was warning Americans of the venal nature of the Fed and the plutocratic money masters who created the Fed and who controlled it then as they do today. Ford wrote:

What the people of the United States do not understand and never have understood is that while the Federal Reserve Act was governmental, the whole Federal Reserve System is private. It is an officially created private banking system.

Examine the first 1,000 people you meet on the street, and 999 of them will tell you that the Federal Reserve System is a device whereby the United States government went into the banking business for the benefit of the people. They have an idea that like the Post Office and the Custom House the Federal Reserve is part of the government’s official machinery. . . . 

Take up the standard encyclopedias and while you will find no misstatements of fact in them, you will find no statement that the Federal Reserve System is a private banking system; the impression carried away by the lay reader is that it is a part of the government. 

The Federal Reserve System is a system of private banks, the creation of a banking aristocracy within an already existing system of aristocracy, whereby a great proportion of banking independence was lost, and whereby it was made possible for speculative financiers to centralize great sums of money for their own purposes, beneficial [to the people of the United States] or not.

In addition, while there has been much written on the Federal Reserve and the reality of what it constitutes— a privately owned and privately controlled money monopoly in the hands of banking institutions—the fact that the Rothschild family of Europe was, ultimately, the primary force behind the establishment of the system on American soil, is not something that is fully understood.

For example, because there were no people named “Rothschild” at the famous meeting off the coast of Georgia at Jekyll Island where the framework for the Federal Reserve was put forth and where the planning for the Federal Reserve Act of 1913 established the Fed, there are those who would divorce the Rothschild family altogether from the circumstances. However, the fine hand of Rothschild was indeed on the scene, represented by Paul Warburg of the New York-based Kuhn, Loeb Company, which was under the control of longtime Rothschild associate Jacob Schiff.

Despite all of this very clear history—which has been outlined by numerous authors such as Wyckliffe Vennard, Eustace Mullins, and Dr. Martin Larson, the preeminent among them—modern-day media propagandists (and we must include the aforementioned Dr. Melvin I. Urofsky among them)—continue to present the Fed as precisely the opposite of what it really is. That Urofsky is assisting in the perpetration of the fraud is particularly egregious in light of the fact that he is a much-published author of such volumes as: 

� American Zionism from Herzl to the Holocaust;

�We are One!: American Jewry and Israel;

� Commonwealth and Community: The Jewish Experience in Virginia;

� Documents of American Constitutional and Legal History; and

� A March of Liberty: A Constitutional History of the United States.

And these are just a few of the works to which Urofsky has added his name. 

Those who wish to contact Urofsky and provide him factual information about the Federal Reserve System (of which he is apparently unaware) may contact him by email at or write: Dr. Melvin Urof sky, 919 W. Franklin Street, Richmond, Va. 23220.


Was Financial Collapse an Orchestrated Event?

Reposted from

In an admission stunning for its frankness Rep. Paul Kanjorski, (D-Pa.) chairman of the House Capitol Markets subcommittee admitted on C-SPAN that the current economic problems were the result of an “electronic run on the bank” that resulted in the hemorrhaging of $550 billion in just “an hour or two.”

Kanjorski was accosted by an irate American caller charging that the economic stimulus package is solely for the benefit of fat cats on Wall Street rather than for Joe Six-pack on Main Street. With barely concealed
panic in his voice, the congressman tried explaining the severity of the financial problem with the following comments:

Why did we do that? We did that because. . . .Look, I was there when the secretary of the treasury and chairman of the Federal Reserve came and talked with members of Congress about what was going on, it was about Sept. 15. . . . Here’s the facts; and we don’t even talk about these things. 

“On the previous Thursday [Sept. 11] at about 11 a.m. the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States to the tune of 550 billion dollars, being drawn out in the matter of about an hour or two. The Treasury opened up its window to help, pumped $105 billion in the system and quickly realized they could not stem the tide. . . . We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there. If they had not done this, their estimation was that by 2 o’clock that afternoon, 5.5 trillion dollars would have been drawn out of the money market system of the United States, [which] would have collapsed the entire economy of the United States, and within 24 hours the world economy would have collapsed. . . .

We talked about what would happen—it would have been the end of our economic and political system as we know it, and that’s why we had to act and do things quickly. Why? Because if you don’t have a banking system you don’t have an economy, and although we did that it wasn’t enough. The economy has been falling and we’re really no better off today than we were three months ago, as other assets are going sour by the moment. . . .

Somebody threw us in the middle of the Atlantic Ocean without a life raft and we’re trying to determine which is the closest shore and whether
there’s any chance in the world to swim that far. We don’t know. . . .

Put in less “gentle” terms, the 2-hour/half-a trillion dollar/$4.6 billion-per-minute event Kanjorski described was the equivalent of having a major economic artery “Jack-the-Rippered” in a way that threatened the very existence of not only the U.S. but the entire world whose economies and political stability are intrinsically tied to the monetary good mood of the land of the free and home of the brave. According to some of the economic experts interviewed for this piece (who insisted upon anonymity,
due to the “sensitive” nature of the topic) it is one of the largest—if not the largest—singular transfers of money in history in such a short time frame.

Furthermore, the general consensus of those interviewed is that had the bloodletting been permitted to run its course—meaning the evaporation of 5.5 trillion dollars—it would have resulted in the elimination of 90% percent of America’s liquidity (again the “blood” that keeps the economic body alive) in the span of just five hours.

Based upon the unnerving words of the congressman in this television exchange, what is known is as follows: 

First, that the potentially apocalyptic events leading up to the bailout of America’s banks are not “talked about,” something to remember when President Obama or his monetary magicians are promising “this and that” with regard to curing America’s economic ills. By the very words of Rep. Paul “Vallachi” Kanjorski, a “code of silence” exists among the “made members” of the political and financial elite preventing them from telling the
truth. The fact that it took close to five months for this information concerning a deliberate run on the banks to be made public is proof that the captain and crew of the Titanic have decided to allow the passengers to go about their lives unencumbered while they try to find a way to “deal with” the current situation.

Second, that on Sept. 15, Treasury Secretary Paulson and Chairman of the Federal Reserve Ben Shalom Bernanke testified before Congress that on the previous Thursday, Sept. 11, an “electronic run” on the U.S. banking system took place between the hours of 9 and 11 am. . . . That had stop-gaps not been executed, by 2 p.m. (again, on Sept. 11) the hemorrhaging of “$5.5 trillion” would have taken place, resulting in the collapse of not only “the entire economy” of the United States but as well of the world within just “24 hours,” leading to “the end of our economic and political system as we know it.” 

Eliminating the possibility that the event was all part of some fluke or “market correction,” the congressman ended his comments by saying “someone” was responsible for the slashing of that financial jugular that nearly bled America to death, as well as indicating the worries on the part of the power elite in Washington as to whether or not at the end of the day America would survive it, despite the unprecedented transfusions.

The date on which the hemorrhaging is said to have taken place, Sept. 11, is the same date America’s financial headquarters were attacked seven years earlier. It started the “war on terror” benefiting a certain ethno-theocratic state in the Middle East. The time frame this monetary hemorrhaging is said to have taken place was between 9 and 11 a.m., which coincides with the time frame of the terror attacks of Sept. 11, 2001,* with the first tower being struck by an airliner shortly before 9 a.m. and the second tower collapsing at roughly 10:30 a.m.

People who note the hundreds of “odd” items dealing with 9-11, including but not limited to the arrest of hundreds of Israeli intelligence operatives, some seen cheering as the Twin Towers were crumbling, will consider that
the current financial crisis—rather than being an “accident”—may be another act of sabotage on the part of the same malicious entity.”

Depression Proof Jobs for a 20 Year Depression – Part 1: The Counter-Cyclical Jobs

Reposted from SurvivalBlog

The current economic downward spiral has prompted several SurvivalBlog readers to write me and ask: “My job is now at risk, so what are the safe jobs?” I’ve actually addressed this topic fairly well since I started SurvivalBlog in 2005. We ran a “best recession-proof jobs” poll, back in May of 2006. Then, in February, 2007, we ran a poll on “Best Occupations for Both Before and After TEOTWAWKI”. Later, we even ran a poll on the current occupations of SurvivalBlog readers. In the past three years, we’ve also posted a panoply of more detailed employment-related letters and articles on subjects such as:

How to set up a home-based second business,

Bartering skills,

Home-based mail order businesses,

Small sawmills,


Handloading ammunition,

Horse breeding,

Rabbit breeding,

Small machine shops,

Selling and bartering through Freecycle,

Selling and bartering through Craig’s List, and

19th Century Trades.

And those were just the ones that I found in a cursory 10-minute search of the SurvivalBlog archives. There are many more. Just type a topic into the “Search Posts on SurvivalBlog:” box at the top of the right -hand bar. (We now have nearly 6,200 archived articles, letters, and quotes!)


Which Jobs Were Safe in the 1930s?

One good insight on the near future can be found in the past. (As Mark Twain said, “History doesn’t repeat itself, but it does rhyme.”)

According to statistics published some 20 years ago by Dr.Ravi Batra, the safest businesses and industries during the worst years of the Great Depression (1929-1933) were:

Repair shops
Educational services (A lot of young men that couldn’t find work borrowed money to go to trade schools and college.)
Healthcare services
Bicycle shops
Bus transportation
Gasoline service stations
Second hand stores
Legal services
Drug or proprietary stores

To bring Batra’s list up to date, I would speculatively add a few more sectors and business that are likely to do well in the next depression:

Home security and locksmithing (since a higher crime rate is inevitable in bad economic times.)
Entertainment and diversions, such as DVD sales and rentals. People will undoubtedly want to escape their troubles!
Truck farming and large scale vegetable gardening (since just 2% of the population now feeds the other 98%–whereas back in the 1930s the US was still a predominantly agrarian society)
Export consumer goods. (Starting in late 2009 or early 2010, the US Dollar is likely to resume its slide versus most other currencies)

Check SurvivalBlog for Part 2…

No More Drive and Chat in Philadelphia – $150-300

Didn’t catch this in the news…

City of Philadelphia
City Council
Chief Clerk's Office
402 City Hall
Philadelphia, PA 19107

BILL NO. 080645

Introduced September 18, 2008

Councilmembers Green, Greenlee and Rizzo

Referred to the
Committee on Streets and Services


Amending Chapter 12-1100 of The Philadelphia Code, entitled "Miscellaneous Regulations
and Penalties," by adding a new section prohibiting the use of a hand-held mobile telephone
by a person operating a motor vehicle or other vehicle on a City street, under certain terms
and conditions.


SECTION 1. Chapter 12-1100 of The Philadelphia Code is hereby amended as follows:


* * *

§ 12-1132. Prohibiting Use of Mobile Telephones by Persons Operating Vehicles.

(1) Legislative Findings. [To be added]

(2) Definitions.

(a) "Hands-free mobile telephone" shall mean a mobile telephone or
wireless communication device that is equipped with a feature or features by which a
user may engage in a call without the use of either hand.

(b) "Street" shall have the same meaning as stated in § 12-102(16) of
this Chapter.

City of Philadelphia

BILL NO. 080645 continued

City of Philadelphia - 2 -
(3) Prohibited Conduct. No person shall use a mobile telephone or wireless
communication device in any way, including for voice communication, messaging or

(a) while operating a motor vehicle on any Street within the City;

(b) while using a skateboard, scooter, rollerblade or bicycle on any
Street within the City.

(4) Exceptions.

(a) Persons using a hands-free mobile telephone for voice
communication, provided that they operate such telephone at all times, including
dialing, without the use of either hand.

(b) Persons using a mobile telephone for voice communication to call
"911" in an emergency, or to report a traffic accident or unsafe driving by another

(c) Persons using a mobile telephone or wireless communication
device while maintaining a motor vehicle in a stationary position in a parking lane or
space out of moving traffic lanes, and not in gear.

(5) Penalties.

(a) The penalty for a violation of this Section shall be a fine of not less
than $150, nor more than $300. In lieu of payment of such fine, a person who
receives a notice of violation of this Section may, within 10 days of receipt of such
notice, pay $75, pursuant to the procedures set forth in Section 1-112 of The
Philadelphia Code.

So you can't drive, skate or ride your bike in Philadelphia while holding a cell phone unless you want to fork over a $300 fine.
You are still allowed to use a hands free device which begs the question. Is the problem one handed driving? Or having a
conversation while operating a two-ton vehicle on the turnpike?

Taxes? Not for this group…

With all this talk about Obama’s cabinet members not paying taxes, I decided to list some tax data from the city of Philadelphia provided by a very awesome site (founded by a regular citizen) called


  • These records come from the Philadelphia Department of Revenue. Hallwatch is not responsible for the accuracy of the Revenue Dept.’s records. They are current as of December 5, 2008

Top 50 Corporations

Rank Owner Total due Total properties
1 SEPTA $17,810,789.80 97
2 AMTRAK $11,149,369.61 16
3 CITY OF PHILA $7,687,280.98 1,077
5 REDEV AUTH OF PHILA $4,270,538.26 786
10 READING CO $1,290,981.02 20
11 $1,087,857.60 300
12 READING REAL ESTATECO $1,026,783.24 15
13 RHA PHILA NURSING $966,828.33 1
14 LOGAN ASSISTANCE CORP $716,683.77 485
15 PA COMMONWEALTH OF DOT $678,998.35 8
16 SCHWARTZ M & CO INC $637,327.08 7
18 NHS 11 PROPERTIES LLC $552,684.51 6
19 GM IRON WORKS INC $537,155.19 2
20 MEDLEY ELIJAH $497,744.17 3
22 UNITED MACHINE & TOOL $480,158.74 2
23 VRAJ BRIG PA LLC $470,862.37 1
25 CONNECTING RAILWAY CO $433,593.87 4
28 COHEN STEVE & JERRY $398,392.03 46
31 LA SALLE UNIVERSITY $366,045.77 4
32 2945 POPLAR DEVELOPMENT LLC $360,417.85 1
34 CH PENNSYLVANIA UNDER-21 $348,868.32 4
35 PHILA HOUSING DEV CORP $343,451.94 137
36 BCA AND CHILD CARE CTR INC $342,594.40 2
38 KENMAR PROP PARTNERS $329,554.04 2
43 CITY OF PHILADELPHIA $285,468.28 99
45 1653 MEADOW STREET INC $280,563.14 3
48 WALNUT LANE INC $265,988.88 3
49 CLEM PROPERTIES INC $262,595.91 5

Delinquency by Zip Code

Zip5 Neighborhood Total delinquency Delinquency count Total properties Percent
19132 North Philadephia West $40,095,047.48 9,930 20,745 47.9
19133 North Philadelphia East $13,228,014.53 6,116 14,570 42.0
19140 Nicetown $35,434,125.63 9,664 23,446 41.2
19121 Fairmount North $22,837,973.02 6,784 16,884 40.2
19139 West Market $24,920,400.99 6,072 16,414 37.0
19143 Kingsessing $40,015,334.14 9,405 25,510 36.9
19104 West Philadelphia $23,241,272.31 3,983 11,977 33.3
19131 West Park $20,004,819.58 4,938 14,988 33.0
19122 Spring Garden North $7,701,935.25 2,728 8,409 32.4
19138 Germantown East $16,915,015.91 4,067 12,771 31.9
19141 Logan $13,097,912.84 3,255 10,348 31.5
19144 Germantown $22,973,194.62 4,147 13,570 30.6
19146 Schuylkill $13,329,794.49 5,441 19,753 27.6
19134 Richmond $24,906,865.00 6,898 25,606 26.9
19126 East Oak Lane $5,118,781.94 1,248 5,071 24.6
19142 Paschall $10,422,105.78 2,796 11,393 24.5
19150 West Oak Lane $7,385,065.48 2,107 9,186 22.9
19125 Kensington $7,517,395.34 2,724 11,886 22.9
19151 Overbrook $8,799,223.21 2,341 11,369 20.6
19119 Mt. Airy $9,348,467.71 1,792 9,750 18.4

The first list shows that the big corporations running the city choose not to pay taxes. The second list shows zip codes in mostly low-income neighborhoods do not pay their taxes.