Wednesday, December 14, 2011


We quote from "The History of Money in the United States" by Willis A. Overholser, LLB.: "One of the most devastating manipulation of the Federal Reserve System occurred during the year 1920. On May 18, 1920, the Federal Reserve Board and the Federal Advisory Council met in Washington, at which time resolutions were passed, ordering the pursuance of a drastic policy of deflation for the avowed purpose of reducing prices and wages."

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