Mullins Eustace, Secrets of The Fed.pdf

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Foreword
In 1949, while I was visiting
Ezra Pound
who was a political prisoner at St. Elizabeth’s Hospital,
Washington, D.C. (a Federal institution for the insane), Dr. Pound asked me if I had ever heard
of the Federal Reserve System. I replied that I had not, as of the age of 25. He then showed me
a ten dollar bill marked "Federal Reserve Note" and asked me if I would do some research at the
Library of Congress on the Federal Reserve System which had issued this bill. Pound was unable
to go to the Library himself, as he was being held without trial as a political prisoner by the
United States government. After he was denied broadcasting time in the U.S., Dr. Pound
broadcast from
Italy
in an effort to persuade people of the United States not to enter World War
II.
Franklin D. Roosevelt
had personally ordered
Pound’s
indictment, spurred by the demands
of his three personal assistants,
Harry Dexter White, Lauchlin Currie,
and
Alger Hiss,
all of
whom were subsequently identified as being connected with Communist espionage.
I had no interest in money or banking as a subject, because I was working on a novel. Pound
offered to supplement my income by ten dollars a week for a few weeks. My initial research
revealed evidence of an international banking group which had secretly planned the writing of
the
Federal Reserve Act and Congress’ enactment
of the plan into law. These findings confirmed
what Pound had long suspected. He said, "You must work on it as a detective story." I was
fortunate in having my research at the Library of Congress directed by a prominent scholar,
George Stimpson, founder of the National Press Club, who was described by The New York
Times of September 28, 1952:
"Beloved by Washington newspapermen as ‘our walking Library of Congress’, Mr. Stimpson
was a highly regarded reference source in the Capitol. Government officials, Congressmen and
reporters went to him for information on any subject."
I did research four hours each day at the Library of Congress, and went to St. Elizabeth’s Hospital
in the afternoon. Pound and I went over the previous day’s notes. I then had dinner with George
Stimpson at Scholl’s Cafeteria while he went over my material, and I then went back to my room
to type up the corrected notes. Both Stimpson and Pound made many suggestions in guiding me
in a field in which I had no previous experience. When Pound’s resources ran low, I applied to
the Guggenheim Foundation, Huntington Hartford Foundation, and other foundations to complete
my research on the Federal Reserve. Even though my foundation applications were sponsored
by the three leading poets of America, Ezra Pound, E.E. Cummings, and Elizabeth Bishop, all
of the foundations refused to sponsor this research. I then wrote up my findings to date, and in
1950 began efforts to market this manuscript in New York. Eighteen publishers turned it down
without comment, but the nineteenth, Devin Garrity, president of
Devin Adair Publishing
Company,
gave me some friendly advice in his office.
"I like your book, but we can’t print it," he told me. "Neither can anybody else in New York.
Why don’t you bring in a prospectus for your novel, and I think we can give you an advance.
You may as well forget about getting the Federal Reserve book published. I doubt if it could
ever be printed."
This was devastating news, coming after two years of intensive work. I reported back to Pound,
and we tried to find a publisher in other parts of the country. After two years of fruitless
submissions, the book was published in a small edition in 1952 by two of Pound’s disciples,
John Kasper and David Horton, using their private funds, under the title Mullins on the Federal
Reserve. In 1954, a second edition,
with unauthorized alterations,
was published in New Jersey,
as The Federal Reserve Conspiracy. In 1955, Guido Roeder brought out a German edition in
Oberammergau, Germany. The book was seized and the entire edition of 10,000 copies burned
by government agents led by Dr. Otto John.
The burning of the book was upheld April 21, 1961 by judge Israel Katz of the Bavarian Supreme
Court. The U.S. Government refused to intervene, because U.S. High Commissioner to Germany,
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James B. Conant (president of Harvard University 1933 to 1953), had approved the initial book
burning order. This is the only book which has been burned in Germany since World War II. In
1968 a pirated edition of this book appeared in California. Both the
FBI
and the U.S. Postal
inspectors refused to act, despite numerous complaints from me during the next decade. In 1980
a new German edition appeared. Because the U.S. Government apparently no longer dictated
the internal affairs of Germany, the identical book which had been burned in 1955 now circulates
in Germany without interference.
I had collaborated on several books with Mr. H.L. Hunt and he suggested that I should continue
my long-delayed research on the Federal Reserve and bring out a more definitive version of this
book. I had just signed a contract to write the authorized biography of Ezra Pound, and the Federal
Reserve book had to be postponed. Mr. Hunt passed away before I could get back to my research,
and once again I faced the problem of financing research for the book.
My original book had traced and named the shadowy figures in the United States who planned
the Federal Reserve Act. I now discovered that the men whom I exposed in 1952 as the shadowy
figures behind the operation of the
Federal Reserve System
were themselves shadows, the
American fronts for the unknown figures who became known as the "London
Connection."
I
found that notwithstanding our successes in the Wars of Independence of 1812 against England,
we remained an economic and financial colony of Great Britain. For the first time, we located
the original stockholders of the
Federal Reserve Banks and traced their parent companies to the
London Connection.
This research is substantiated by citations and documentation from hundreds of newspapers,
periodicals and books and charts showing blood, marriage, and business relationships. More than
a thousand issues of The New York Times on microfilm have been checked not only for original
information, but verification of statements from other sources.
It is a truism of the writing profession that a writer has only one book within him. This seems
applicable in my case, because I am now in the fifth decade of continuous writing on a single
subject, the inside story of the Federal Reserve System. This book was from its inception
commissioned and guided by Ezra Pound. Four of his protégés have previously been awarded
the Nobel Prize for Literature, William Butler Yeats for his later poetry, James Joyce for
"Ulysses", Ernest Hemingway for "The Sun Also Rises", and T.S. Elliot for "The Waste Land".
Pound played a major role in the inspiration and in the editing of these works -- which leads us
to believe that this present work, also inspired by Pound, represents an ongoing literary tradition.
Although this book in its inception was expected to be a tortuous work on economic and monetary
techniques, it soon developed into a story of such universal and dramatic appeal that from the
outset, Ezra Pound urged me to write it as a detective story, a genre which was invented by my
fellow Virginian, Edgar Allan Poe.
I believe that the continuous circulation of this book during the past forty years has not only
exonerated Ezra Pound for his much condemned political and monetary statements, but also that
it has been, and will continue to be, the ultimate weapon against the powerful conspirators who
compelled him to serve thirteen and a half years without trial, as a political prisoner held in an
insane asylum a la
KGB.
His earliest vindication came when the government agents who
represented the conspirators refused to allow him to testify in his own defense; the second
vindication came in 1958 when these same agents dropped all charges against him, and he walked
out of St. Elizabeth’s Hospital, a free man once more.
His third and final vindication is this work, which documents every aspect of his exposure of
the ruthless international financiers to whom Ezra Pound became but one more victim, doomed
to serve years as the
Man in the Iron Mask,
because he had dared to alert his fellow-Americans
to their furtive acts of treason against all people of the United States.
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In my lectures throughout this nation, and in my appearances on many radio and
television programs, I have sounded the toxin that the Federal Reserve System is not
Federal; it has no reserves; and it is not a system at all, but rather, a criminal syndicate.
From November, 1910, when the conspirators met on
Jekyll Island, Georgia
to the
present time, the machinations of the Federal Reserve bankers have been shrouded in
secrecy.
Officials of the Federal Reserve System
routinely issue remonstrances to the
public, much as the Hindu fakir pipes an
insistent tune to the dazed cobra which
sways its head before him, not to resolve
the situation, but to prevent it from
striking him.
Such was the soothing letter written by
Donald J. Winn, Assistant to the Board
of Governors in response to an inquiry
by a Congressman, the Honorable
Norman D. Shumway, on March 10,
1983. Mr. Winn states that,
Today, that
secrecy has cost the American
people a three trillion dollar debt, with
annual interest payments to these
bankers amounting to some three hundred billion dollars per year, sums which stagger
the imagination,and which in themselves are ultimately unpayable.
Officials of the Federal Reserve System routinely issue remonstrances to the public,
much as the Hindu fakir pipes an insistent tune to the dazed cobra which sways its
head before him, not to resolve the situation, but to prevent it from striking him.
Such was the soothing letter written by Donald J. Winn, Assistant to the Board of Governors in
response to an inquiry by a Congressman, the Honorable Norman D. Shumway, on March 10,
1983. Mr. Winn states that,
"The Federal Reserve System was established by an act of Congress in 1913 and is not a ‘private
corporation’."
On the next page, Mr. Winn continues,
"The stock of the
Federal Reserve Banks
is held entirely by commercial banks that are members
of the Federal Reserve System."
He offers no explanation as to why the government has never owned a single share of stock in
any Federal Reserve Bank, or why the Federal Reserve System is not a "private
corporation"
when all of its stock is owned by "private corporations".
American history in the twentieth century has recorded the amazing achievements of the Federal
Reserve bankers.
First, the outbreak of World War I, which was made possible by the funds available
from the new central bank of the United States.
Second, the Agricultural Depression of 1920.
Third, the Black Friday Crash on Wall Street of October, 1929 and the ensuing Great
Depression.
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Fourth, World War II.
Fifth, the conversion of the assets of the United States and its citizens from real property
to paper assets from 1945 to the present, transforming a victorious America and foremost
world power in 1945 to the world’s largest debtor nation in 1990.
Today, this nation lies in economic ruins, devastated and destitute, in much the same dire straits
in which Germany and Japan found themselves in 1945. Will Americans act to rebuild our nation,
as Germany and Japan have done when they faced the identical conditions which we now face--or
will we continue to be enslaved by the Babylonian debt money system which was set up by the
Federal Reserve Act in 1913 to complete our total destruction? This is the only question which
we have to answer, and we do not have much time left to answer it.
Because of the depth and the importance of the information which I had developed at the Library
of Congress under the tutelage of Ezra Pound, this work became the happy hunting ground for
many other would-be historians, who were unable to research this material for themselves. Over
the past four decades, I have become accustomed to seeing this material appear in many other
books, invariably attributed to other writers, with my name never mentioned. To add insult to
injury, not only my material, but even my title has been appropriated, in a massive, if obtuse,
work called "Secrets
of the Temple--the Federal Reserve".
This heavily advertised book received reviews ranging from incredulous to hilarious.
Forbes
Magazine
advised its readers to read their review and save their money, pointing out that "a
reader will discover no secrets" and that "This is one of those books whose fanfares far exceed
their merit." This was not accidental, as this overblown whitewash of the Federal Reserve bankers
was published by the most famous nonbook publisher in the world.
After my initial shock at discovering that the most influential literary personality of the twentieth
century, Ezra Pound, was imprisoned in "the
Hellhole"
in Washington, I immediately wrote for
assistance to a Wall Street financier at whose estate I had frequently been a guest. I reminded
him that as a patron of the arts, he could not afford to allow Pound to remain in such inhuman
captivity. His reply shocked me even more. He wrote back that "your friend can well stay where
he is."
It was some years before I was able to understand that, for this investment banker and his
colleagues,
Ezra Pound
would always be "the enemy".
Eustace Mullins
Jackson Hole, Wyoming 1991
Introduction
Here are the simple facts of the great betrayal. Wilson and House knew that they were doing
something momentous. One cannot fathom men’s motives and this pair probably believed in
what they were up to. What they did not believe in was representative government. They believed
in government by an uncontrolled oligarchy whose acts would only become apparent after an
interval so long that the electorate would be forever incapable of doing anything efficient to
remedy depredations.
EZRA POUND
(St. Elizabeth’s Hospital, Washington, D.C. 1950)
(AUTHOR’S NOTE:
Dr. Pound
wrote this introduction for the earliest version of this book,
published by Kasper and Horton, New York, 1952. Because he was being held as a
political
prisoner without trial
by the Federal Government, he could not afford to allow his name to appear
on the book because of additional reprisals against him. Neither could he allow the book to be
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