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"Some people think the Federal Reserve banks are United States 

Government institutions. They are not government institutions. They are 

private credit monopolies which prey upon the people of the United

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States for the benefit of themselves and their foreign customers. The 

Federal Reserve banks are 

 

 

the agents of the foreign central banks. 

Henry Ford has said, ‘The one aim of these financiers is world control by 

the creation of inextinguishable debts.’ The truth is the Federal Reserve 

Board has usurped the Government of the United States by the 

arrogant credit monopoly which operates the Federal Reserve Board 

and the Federal Reserve Banks."

On January 13, 1932, McFadden had introduced a resolution indicting 

the Federal Reserve Board of Governors for "Criminal Conspiracy":

"Whereas I charge them, jointly and severally, with the crime of having 

treasonably conspired and acted against the peace and security of 

the United States and having treasonably conspired to 

 

 

 

destroy 

constitutional government in the United States. Resolved, that the 

Committee on the Judiciary is authorized and directed as a whole or 

by subcommittee to investigate the official conduct of the Federal 

Reserve Board and agents to determine whether, in the opinion of the 

said committee, they have been guilty of any high crime or 

misdemeanour which in the contemplation of the Constitution requires 

the interposition of the Constitutional powers of the House."

No action was taken on this Resolution. McFadden came back on 

December 13, 1932 with a motion to impeach President Herbert 

Hoover. Only five Congressmen stood with him on this, and the