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The Soon Coming Judgment Of God Upon America and How To Escape It 301
banking system.”
1201
The name “central bank”, Warburg stressed, must be avoided at all costs. The group
decided to promote the proposal, which in essence was a Trojan Horse, as a “regional reserve”
system with four (later twelve) branches in different sections of the country.
1202
The original bill entitled “Federal, Reserve System” failed due to Aldrich’s and the
Republican Parties connection to Wall Street. It later became known as the “Federal Reserve
Act”. It was decided the Democrats could best push the legislation through under the guise of
regulating Wall Street in order to strip it of its power but the actual intent was to give them a
cartel with unlimited power.
The bankers sought five objectives: “stop the growing competition from the nations
newer banks; obtain a franchise to create money out of nothing for the purpose of lending; get
control of the reserves of all the banks so that the more reckless ones would not be exposed to
currency drains and bank runs; get the taxpayers to pick up the tabs of the cartel’s inevitable
losses; and convince Congress that the purpose was to protect the public.”
1203
In the presidential campaign of 1912 Woodrow Wilson was the man the bankers figured
they could count on to push through the Federal Reserve Act but there was one problem,
Republican candidate President William Howard Taft was a shoe in. Taft had backed the 16th
amendment allowing an income tax. This was a critical component of the Federal Reserve
System; they needed the ability to confiscate the earnings of the American people. But Taft had
turned against the proposal for the Federal Reserve.
J. P. Morgan’s strategy was to obtain the help of Teddy Roosevelt. Roosevelt agreed to
run for the presidency under a third party ticket, the Progressive Party. J. P. Morgan financed the
campaign. Roosevelt, a popular Republican, wasn’t running to win but to split the vote. Wilson
won the election with 42.5 percent of the popular vote. This is similar to the 1992 election where
Clinton won the presidency with 43 percent of the vote when Ross Perot split the vote with
President Bush.
1204
Although Wilson had been picked as the man who could bring about the central bank, the
Democratic platform stated: “We are opposed to the Aldrich plan for a central bank.” Woodrow
Wilson’s campaign remained true to the democratic platform promising to keep the country’s
money system free of the domination of the international bankers of Wall Street. After the
election “Colonel” Edward Mandel House became president Wilson’s closest advisor. House,
who apparently had no loyalties to the US and who was actually a traitor, guided the Federal
Reserve Act through Congress were it was passed on December 22, 1913. House authored a
book, Philip Dru: Administrator, in which he wrote of his desire to establish “Socialism as
dreamed by Karl Marx.” Two of the ten planks of the Communist Manifesto are a graduated
income tax and a central bank. In his book, House called for passage of both of these. A central
bank being a means to obtain “a flexible [inflatable paper] currency.” House accomplished both
of these goals.
1205
Historians reveal that although President Wilson was aware of the true nature of the
Federal Reserve, many Congressional members were deceived about it. Others were part of the
conspiracy and a faithful and informed minority opposed it. The result was a bill that placed the
issue and control of currency in the US in the hands of private bankers. Those who opposed the
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