Actually the Act was passed on December 23, 1913. Close enough for jazz.
Facts about the Federal Reserve:
The Federal Reserve is a privately owned for profit corporation.
The Federal Reserve has no reserves.
The name was created prior to the Federal Reserve Act being passed in 1913. This was done to make Americans believe the U.S. banking system operated in the public interest. The truth is the Federal Reserve is a private bank owned by private shareholders, and runs purely for private profits, and thereby creating massive debt to the American people.
This privately held organization pays no taxes on the trillions of dollars it makes.
"The Federal Reserve was chartered by an act of deceit, by an act of congress when most of congress had gone home for Christmas holiday on December 23rd 1913. The Federal Reserve Act of 1913 passed the house, but was having difficulty getting through the senate.
No recess had been called, most senators had gone home, yet three senators passed the act with a unanimously voice vote. There was no objection. If there had been one person present in the absence of a quorum, the bill would not have been passed.
In 1923, Representative Charles A. Lindbergh, a Republican from Minnesota, and father of the famous aviator Lucky Lindberg stated. “The financial system has been turned over to the Federal Reserve Board. That board administers the finance system by authority of a purely profiteering group. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money.
Former chairman of the House Banking and Currency Committee, during the great depression era, Louis T. McFadden in 1932 stated, “We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our Government. It has done this through the corrupt practices of the moneyed vultures who control it.”
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