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the bill were duped; others were bribed; others were intimidated. The 

preface to the Federal Reserve Act reads "An Act to provide for the 

establishment of Federal reserve banks, to furnish an elastic currency, 

to afford means of rediscounting commercial papers, to establish a 

more effective supervision of banking in the United States, and for 

other purposes." The unspecified "other purposes" were to give 

international conspirators a monopoly of all the money and credit of 

the people of the United States; to finance World War I through this 

new central bank, to place American workers at the mercy of the 

Federal Reserve system’s collection agency, the Internal Revenue 

Service, and to allow the monopolists to seize the assets of their 

competitors and put them out of business.

Q: Is the Federal Reserve system a government agency?

A: Even the present chairman of the House Banking Committee claims 

that the Federal Reserve is a government agency, and that it is not 

privately owned. The fact is that the government has never owned a 

single share of Federal Reserve Bank stock. This charade stems from the 

fact that the President of the United States appoints the Governors of 

the Federal Reserve Board, who are then confirmed by the Senate. The 

secret author of the Act, banker Paul Warburg, a representative of the 

Rothschild bank, coined the name "Federal" from thin air for the Act, 

which he wrote to achieve two of his pet aspirations, an "elastic 

currency", read (rubber check), and to facilitate trading in 

acceptances, international trade credits. Warburg was founder and 

president of the International Acceptance Corporation, and made 

billions in profits by trading in this commercial paper. Sec. 7 of the 

Federal Reserve Act provides "Federal reserve banks, including the