The Coming Economic Collapse!
By Devvy Kidd and David J. Smith
And when he had opened the third seal, I heard the third beast say, Come and see.
And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his
hand. And I heard a voice in the midst of the four beasts say, A measure of wheat for a
penny, and three measures of barley for a penny; and see you hurt not the oil and the
wine (Revelation 6: 5-6).
The Apostle John saw something for the end of the age that was quite disturbing. He had
seen religious infiltration to water down religion [white horse]. He saw the rise of wars
of liberation, killing of nearly half the population of nations that were overthrown for
communism [red horse]. Suddenly, he sees an economic collapse to further the drive toward
a world government, with all nations losing their national sovereignty and becoming slaves
to the power elite. The seals of the Book of Revelation reveal Satans tactics to
establish world government under his man (Revelation 13: 2).
How Will World Government Be Achieved?
Give me control over a nations currency and I care not who makes its
laws. Baron M. A. Rothschild (1744-1812 AD)
Whoever controls the volume of money in any country is master of all its
legislation and commerce. President James Garfield (1831-1881 AD)
Exposing the Illuminatis Fraud
Let us begin by exposing this mysterious entity known as the Federal Reserve Banking
System. This entity is not part of our government. The Fed is privately owned
by a select group of powerful individuals and private banking cartels. Its express purpose
is to fleece the American people by stealing our money under the pretext of a
central banking system that calls itself Federal. Yet, it is no more a part
of, or controlled by, the Federal Government than is Federal Express!
The U.S. Constitution, Article 1 section 8 states:
Congress shall ... have the power to coin money, regulate the value
This authority is granted and vested only in the U.S. Congress. On April 19, 1982, the
U.S. Court of Appeals, Ninth Circuit Court ruled the Federal Reserve Banks are
privately owned, locally controlled corporations [Lewis vs. U.S.].
Chairman Louis T. McFadden of the House Banking and Currency Committee, addressed the
House on June 10, 1932:
Some people think the Federal Reserve Banks are U.S. government institutions.
They are not government institutions. They are private credit monopolies which prey upon
the people of the U.S. for the benefit of themselves and their foreign and domestic
swindlers, and rich and predatory money lenders. [75 Congressional Record
In a speech delivered before the Washington Chamber of Commerce in 1921, William G.
Harding, Governor of the Federal Reserve Board stated:
From a legal standpoint these banks are private corporations, organized under a
special act of Congress, namely, the Federal Reserve Act. They are not in the strict sense
of the word Government banks.
This special act by Congress in 1913 was in direct violation of the 16th
Corpus Juris Secundum, Section 141, which states that Congress cannot delegate or sign
over its authority to any individual, corporation, or foreign nation. Yet, that is exactly
what occurred in December of 1913 by a select group of individuals in the U.S. Congress.
That special act has become the biggest fraud in the history of the United
It is mathematically impossible to pay off the national debt when examing the origin of
money under this central banking system. According to William H. Ferkler, Manager of
Public Affairs, Department of Treasury, Bureau of Engraving & Printing, Washington,
D.C.: As we have advised, the Federal Reserve is currently paying the Bureau
approximately $23 for each 1,000 notes printed. This does include the cost of printing,
paper, ink, labor, etc. Therefore, 10,000 notes of ANY denomination, including the $100
note would cost the Federal Reserve $230. In addition, the Federal Reserve must secure a
pledge of collateral equal to the face value of the notes.
In ordering these illegal notes or promise to repay into existence by sending a
purchase order to the Bureau of Engraving for 10,000 notes, at a total cost of $230 to the
Federal Reserve, this private banking cartel, not WE the People, thereby obtain a pledge
of collateral equal to their face value of $50,000 if they are $5 dollar bills, or
$100,000 if they print $10 bills, or$200,000 if they order $20 bills; $500,000 if they
have printed $50 bills; $1,000,000 if they order $100 bills; $5,000,000 if they order $500
bills, or $100,000,000 if they print $10,000 bills. This pledge is made to the Federal
Reserve Cartel by Congress, and the collateral to which Congress pledges is the land,
labor, and ASSETS of the American people. What a racket!!!
This private entity known as the Fed was incorporated in 1914 and has been
creating a completely unnecessary national debt ever since. Simply stated: The Fed creates
money AS DEBT. The Fed creates money out of thin air. This is accomplished at the stroke
of a pen with nothing more than a book entry when the members of the Federal Reserve
System make loans to the government, to banks, to businesses, and to individuals. This
DEBT, money is the money suppy we are forced to use.
The Federal Reserve Systems banks charge USURY [interest] on the created debt
money. We American citizens are obligated to repay this debt money, PLUS the usury
[interest]. However, the money to pay the usury on the debt is never created within the
system. Loan repayments to banks reduce the money supply, because the money is removed
from circulation when the debt is repaid. To keep the money supply from shrinking, MORE
borrowing is necessary. It is mathematically impossible to pay off the aggregate debt
principle plus the aggregate usury.
In a futile attempt to avoid the day of reckoning, borrowers are forced to take on
increasing amounts of debt to pay not only the principal of the debt, but the usury as
well. Debt escalates at an expotential rate until borrowers are forced into bankruptcy.
This phenomena is not unique to government borrowing, but applies as well to individuals
and businesses. The ultimate consequences are: involuntary unemployment, inflation,
burdensome usury rates, and the calculated loss of our inherited rights and freedoms, and
the confiscation of our property.
We should heed the wise words of Daniel Webster: A disordered currency is one of
the greatest political evils. It undermines the virtues necessary for the support of the
social system, and encourages propensities destructive to its happiness. It wars against
industry, frugality and economy, and it fosters evil spirits of extravagance and
speculation. Of all the contrivances for cheating the laboring classes of mankind, NONE
has been more effectual than that which deludes them with PAPER MONEY.
[Congressional Record, March 4, 1946]
This is now what we have - paper money. If Congress does not rectify the matter, the
whole house of paper money is going to fall down around our heads within a few short
years. The ultimate mathematical equation is complete and total bankruptcy for all but the
elite few is certain. Tens of thousands of Americans have been begging Congress to stop
this fraud for over 30 years to no avail. All that Americans have received is more and
more taxation to feed this monster and the debt it creates.
Louis T. McFadden, Chairman of the House Banking Committee, speaking about the
international financial conspirators during the very time they were taking over the
monetary control of America stated: We have in this country one of the most corrupt
institutions the world has ever known. I refer to the Federal Reserve Board and the
Federal Reserve Banks, hereinafter called the Fed. They are NOT government institutions.
They are private monopolies which prey upon the People of the United States for the
benefit of themselves and their foreign and domestic swindlers; rich and predatory
moneylenders. McFadden died under very mysterious circumstances in 1936 after three
previous attempts on his life.
George W. Malone, U.S. Senator from Nevada, speaking before Congress in 1957 alluded to
the families that secretly own the Federal Reserve Bank and control the finances of the
U.S.: I believe that if the people of this nation fully understood what Congress has
done to them over the past 49 years, they would move on Washington; they would not wait
for an election ... It adds up to a preconceived plan to destroy the economic and social
independence of the United States.
The time will come when 100% of every federal income tax dollar you are coerced to pay
will go just to service the interest on the national debt.
The actual deficits are almost twice as large as those admitted by government. So
WHY has not our economy collapsed? Because the American people still have confidence in
the system. The heart of the system depends on borrowing to fund the budget
deficits each year. The interest on a $3 trillion debt amounts to $240 billion annually,
or about 40 percent of all personal income taxes paid. When this debt swells to $20
trillion in nine years or so, the annual interest will be $1.6 trillion, or about 200
percent of all personal income taxes projected for that year (at a 33 percent rate).
(Larry Burkett, The Coming Economic Earthquake, p. 90)
We have yet to pay a dime toward the principal of this alleged debt; and because of the
modern banking miracle of compound interest, the debt continues to rise unabated. Whose
debt is it anyway? Is this what we work our fingers to the bone for - to pay USURY to a
private group of bankers who make up the Fed? Some of those stockholders are identified
as: Rothschilds of London and Berlin, Lazard Bros. of Paris, Israel Mossesschieff of
Italy, Kuhn and Loeb of Germany, Warburg of Hamburg, Lehman Bros. of New York, Goldman and
Sachs of New York, and Rockefellers of New York.Not you or I, not America, not the U.S.
Government, but a consortium of private international banking families and their
stockholders collects the usury and controls our economic life!!!
The Federal Reserve System takes in about a trillion dollars yearly. Our Congress gives
them special exemption from paying taxes on their illegally obtained income. They pay only
real estate taxes while we pay to make them rich beyond our wildest imagination, and
Americans slide further and further into personal bankruptcy and despair.
The Fed violates your 13th Amendment Constitutional rights by placing We the People
into involuntary servitude. By forcing us to use an illegal medium of worthless currency,
indebted with interest that can never be paid back, we are placed into involuntary
servitude to these private individuals who own the Fed and its branch banks.
This Act establishes the most gigantic trust on earth. When the President signs
this Act the invisible government by the money power, proven to exist by the Money Trust
Investigation, will be legalized. The new law will create inflation whenever the trusts
want inflation. From now on depression will be scientifically created.
(Charles A. Lindbergh, Sr. at the time of the passage of the Federal Reserve Act in
The Federal Reserve System Was Planned in Secrecy
Despite my views about the value to society of greater publicity for the affairs
of corporations, there was an occasion, near the close of 1910, when I was as secretive,
indeed, as furtive, as any conspirator ... our secret expedition to Jekyl Island [Georgia]
as the occasion of the actual conception of what eventually became the Federal Reserve
(Frank Vanderlip, Saturday Evening Post, February 9, 1935, p. 25)
Colonel Edward Mandell House, Foreign Affairs Advisor to President Woodrow Wilson,
chief architect of the Council on Foreign Relations, and author of the book Phillip Dru,
Administrator: A Story of Tomorrow, advocated socialism as dreamed by Karl
Marx, is also characterized as the unseen guardian angel of the Federal
Reserve Act, according to Houses biographer, Charles Seymour in The Intimate
Papers of Colonel House.
As a matter of fact, on November 23, 1933, FDR, in a letter to Col. House stated:
The real truth of the matter is, and you and I know, that a financial element in
large centers has owned the government of the U.S. since the days of Andrew Jackson [which
history depicts as the last truly honorable and incorruptible American President].
The Federal Reserve Is Independent in Its Operations
Neither Presidents, Congressmen, nor Secretaries of the Treasury direct the
Federal Reserve. In the matters of money, the Federal Reserve directs them. Gary
Allen, None Dare Call It Conspiracy
In the United States we have, in effect, TWO GOVERNMENTS ... We have the duly
constituted Government ... Then we have an INDEPENDENT, UNCONTROLLED AND UNCOORDINATED
GOVERNMENT IN THE FEDERAL RESERVE SYSTEM, operating the money powers WHICH ARE RESERVED to
Congress by the Constitution. Congressman Wright Patman
The Federal Reserve Is a Government Granted Private Monopoly
By law, the seven members of the Federal Reserve Board are appointed by the
President for a term of fourteen years each. In spite of the incredible length of these
appointments, nevertheless, they are supposed to create the illusion that the people,
acting through their elected leaders, have some voice in the nations monetary
policies. In practice, however, EVERY President since the beginning of the Federal Reserve
System has appointed those men who were congenial to the financial interests of the
international banking dynasties. There have been no exceptions.
G. Edward Griffin, The Capitalist Conspiracy, p. 17
It is well enough that people of the nation do not understand our banking and
monetary system, for if they did, I believe there would be a revolution before tomorrow
morning. Henry Ford, founder of the Ford Motor Company, commenting on the
Federal Reserve scam.
The Federal Reserve Has Never Been Audited
In its 60-year history [today - 92 years], the Federal Reserve System has never
been subjected to a complete, independent audit, and it is the ONLY important agency that
refuses to consent to an audit by the Congress agency, the General Accounting Office
... GAO audits of the Federal Reserve will, moreover, fill the glaring gap that now exists
in our information about the Feds activities and programs. As things now stand, the
only information that we get on programs of the Fed is what the Fed itself wants us to
have. Congressman Wright Patman, Congressional Record, May 5, 1975
Ask yourself: How can an alleged agency of the federal government of the United States
operate for 92 years WITHOUT ever being audited? Simple! Since the Fed is privately owned,
our Congress does not have the power to enforce an audit.
What the Fed Says About Itself
Some of the most informative materials available on the topics of money, inflation,
interest, banks and banking, are issued by the twelve Federal Reserve District Banks. Most
materials are available free of charge. Many larger metropolitan cities have a local Fed
Branch Bank, such as Dallas, Texas. You are encouraged to walk in and ask to speak to the
Public Relations Manager. His job is to answer your questions and furnish you with any
materials you may desire, relevant to banks and banking, interest [usury], inflation,
money and currency. If you take the time to research, you will be utterly amazed at what
Pre-Federal Reserve History
Prior to the Federal Reserve Act of 1913, the United States Government
coined, and issued our currency debt free. The ONLY lawful and Constitutional form of
money were gold and silver. The Free Coinage Act of 1792 established a standard weight,
purity, and denomination for the nations money.
The authority for Congress was set forth in Article 1, Sec. 8 and Sec. 10 which state:
Precious metals such as gold and silver have been the most highly prized means of
monetary exchange for many centuries. They are honest money. By mining the
earth, one exchanges their God-given talents and resources for wealth. That wealth can
then in turn be exchanged for the goods and services honestly produced by another
individuals talents and resources. The Free Coinage Act of 1792 dramatically
simplified the process of issuing a standard coin into circulation. At no cost, the
individual could take his silver or gold dust, shavings, or bullion, to the mint, and have
it melted down and pressed into coin. Now it was guaranteed to be a standard weight and
What Is Money?
Ever wonder just what money is? Let us look at some common definitions:
USC Title 12 Sec. 152:
Lawful money of the United States shall be construed to mean gold and silver coin
Blacks Law Dictionary:
Coins and paper currency used as circulating medium of exchange, and DOES NOT
embrace notes, bonds, evidence of debt ...
What we readily see from these definitions is that paper CANNOT be money. What we carry
in our pockets - Federal Reserve Notes are disqualified as money, because they are notes.
A note is an IOU - an evidence of debt. It is NOT money! Why then do we call it money?
Have we been tricked?
The Free Coinage Act specified money to be gold or silver coin, and the denomination to
be based upon a weight - a dollar, and all coins were to be at least 90% pure. The dollar
is specified as:
Gold - 25.8 grains
Silver - 412.5 grains
Between revenues generated from loaning to private banks at a set interest rate and
revenues generated from excise taxes, military sales, etc., the government of our nation
does not need to charge one penny in personal federal income tax. The personal income tax
is Socialistic in design and goes against everything the founding fathers of this nation
believed in and created the Constitution for - to allow us taxation WITH representation
and to NEVER allow private or foreign interests to control our money system.
Recall the words of Thomas Jefferson:
Single acts of tyranny may be ascribed to the accidental opinion of a day. But a
series of oppressions, begun at a distinguished period, and pursued unalterably through
every change of ministers (administration), too plainly PROVES a deliberate systematic
plan of reducing us to slavery.
Is this not exactly the PLAN implemented with the so-called Federal Reserve Act
of 1913, and the creation of the income tax? Both the Central Bank and the graduated
income tax are planks of the Communist Manifesto!!! Are we being Socialized/Communized?
Abraham Lincoln stated:
The privilege of creating and issuing money is not the supreme prerogative of
Government, but is the Governments greatest creative opportunity. By the adoption of
these principles, the taxpayers will be saved immense sums of interest.
Why was a personal, progressive income tax placed upon We the People in 1913 - the same
year the Fed came into being? How else could the kingpins of the Fed finance all this
usury charged against bogus currency? Simple. Start taxing the people and calling this
illegal scam a national debt.
Contrary to IRS opinion and the propaganda by the Insiders, the 16th Amendment to the
U.S. Constitution was never ratified. Bill Benson and Red Beckman went to 48 states
legislatures and found something very shocking - only 4 states voted for the 16th
Amendment! Their exhaustively researched document, The Law That Never Was, Vols. 1 &
2, demonstrates beyond a shadow of a doubt that the 16th Amendment was never properly
ratified as a Constitutional Amendment. It was simply declared to be in effect
by President Tafts Secretary of State.
It is unconstitutional for the U.S. Government to directly tax wages and earnings.Even
if it was valid, the 16th Amendment does not change the Constitution, for it is an excise
tax on income derived from revenue taxable activities, interest, gains, and profits.
Title 26 of U.S. Code is referred to as the Internal Revenue Code. Even though
Americans believe they are law in the 50 states of the Union, they are not.
Deceptive statements by IRS spokesmen and other propagandists have created great
confusion as to whether these limitations on direct taxes are still in effect. Some
incorrectly claim that the 16th Amendment [the income tax amendment] changed the
constitutional limitations on direct taxes and authorized an income tax as a direct tax
without apportionment. The U.S. Supreme Court rejected these claims in the case of
Brushaber v. Union Pacific R.R. Co., 240 US 1, when they ruled that the 16th Amendment
created no new power of taxation and that it did not change the constitutional limitations
which forbid any direct taxation of individuals.
NCBA Bulletin, May 1988
The Federal Tax Lien Act of 1966, P.O. 89-719 legislative history, Pg. 3722 states:
The entire taxing and monetary systems are hereby placed under the Uniform
On page 3 of your 1992 Forms and 1040 Instructions book issued by the Internal Revenue
Service, the Commissioner of the IRS states, paragraph 2, sentence 1:
The Congress shall have Power To Coin Money, regulate the Value thereof, and of
foreign Coin, and fix the Standard Weights and Measures.
No state shall ... coin Money; emit Bills of Credit; make any Thing but gold and
silver Coin a Tender in Payment of Debts. www.newswatchmagazine.com