When a Senator had some Balls

History's banking lessons for today

By Marilyn Barnewall
© 2004 Business Reform

"The Honorable Louis T. McFadden, Congressman from Pennsylvania, leveled charges at the Federal Reserve Board on the floor of Congress that would have made the most aggressive conspiracy theorist blush.

McFadden accused the Federal Reserve of swindling the U.S. Treasury, of conspiring with their foreign principals (central banks in other nations) and others to defraud the American government.

As if that were not enough, McFadden further told his compatriots on the House floor that the Fed had robbed the U.S. government and the people of the United States by their theft and sale of the gold reserves of the U.S.?

Not to add fuel to this fire, but a lot of Americans today question how many ounces of gold reside in Fort Knox now versus pre-Federal Reserve."

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And the answer is?

--WP