Mullins, Eustace - Secrets of the Federal Reserve TommiZ edition.pdf

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SECRETS OF THE FEDERAL RESERVE
The London Connection
By
Eustace Mullins
Dedicated to two of the finest scholars of the twentieth
century
GEORGE STIMPSON
and
EZRA POUND
Who generously gave of their vast knowledge to a young writer to guide him in a field which he could
not have managed alone.
ACKNOWLEDGEMENTS
I wish to thank my former fellow members of the staff of the Library of Congress whose very kind
assistance, cooperation and suggestions made the early versions of this book possible. I also wish to
thank the staffs of the Newberry Library, Chicago, the New York City Public Library, the Alderman
Library of the University of Virginia, and the McCormick Library of Washington and Lee University,
Lexington, Virginia, for their invaluable assistance in the completion of thirty years of further research
for this definitive work on the Federal Reserve System.
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About the Author
Eustace Mullins is a veteran of the United States Air Force, with thirty-eight months of active service
during World War II. A native Virginian, he was educated at Washington and Lee University, New York
University, Ohio University, the University of North Dakota, the Escuelas des Bellas Artes, San Miguel
de Allende, Mexico, and the Institute of Contemporary Arts, Washington, D.C.
The original book, published under the title Mullins On The Federal Reserve, was commissioned by
the poet Ezra Pound in 1948. Ezra Pound was a political prisoner for thirteen and a half years at St.
Elizabeth’s Hospital, Washington, D.C. (a Federal institution for the insane). His release was
accomplished largely through the efforts of Mr. Mullins.
The research at the Library of Congress was directed and reviewed daily by George Stimpson,
founder of the National Press Club in Washington, whom The New York Times on September 28,
1952 called, "A highly regarded reference source in the capitol. Government officials, Congressmen,
and reporters went to him for information on any subject."
Published in 1952 by Kasper and Horton, New York, the original book was the first nationally-
circulated revelation of the secret meetings of the international bankers at Jekyll Island, Georgia,
1907-1910, at which place the draft of the Federal Reserve Act of 1913 was written.
During the intervening years, the author continued to gather new and more startling information about
the backgrounds of the people who direct the Federal Reserve policies. New information gathered
over the years from hundreds of newspapers, periodicals, and books give corroborating insight into the
connections of the international banking houses.*
While researching this material, Eustace Mullins was on the staff of the Library of Congress. Mullins
later was a consultant on highway finance for the American Petroleum Institute, consultant on hotel
development for Institutions Magazine, and editorial director for the Chicago Motor Club’s four
publications.
* The London Acceptance Council is limited to seventeen international banking houses authorized by
the Bank of England to handle foreign exchange.
About the cover
The cover reproduces the outline of the eagle from the red shield, the coat of arms of the city of
Frankfurt, Germany, adapted by Mayer Amschel Bauer (1744-1812) who changed his name from
Bauer to Rothschild ("Red Shield"). Rothschild added five golden arrows held in the eagle’s talons,
signifying his five sons who operated the five banking houses of the international House of Rothschild:
Frankfurt, London, Paris, Vienna, and Naples.
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Table of contents
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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,
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
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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.
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 (click image
left) , to the present time, the machinations of the Federal
Reserve bankers have been shrouded in secrecy. 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
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