Iwo Cyprian Pogonowski: The Fedreal Reserve System is a private bank operating for profit and at the same time acting as a Central Bank of the United States independent of the federal government and of the president of the United States. It is printing American currency and controlling the monetarny policy of the country since 1913 and therefore today it is in control of the business cycle of inflation and depression, despite earlier warnings and clear statement in the Constitution of the United States that the federal government has the exclusive right to issue US currency.
Thomas Jefferson wrote in 1802: “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.”
Contrary to Jefferson’s warning the Federal Reseve System continues to act as the central bank of United States. It was organized by Paul Warburg. It should be noticed that his brother Max Warburg, who resided in Germany was the president of the Rothschild Bank in Frankfurt on Main and controlled German banking during World War One.