1984: Grace Commission Report under Ronald Reagan showed IRS is a fraud that collects taxes for the Banking Dynasties

Alex James
More options Mar 21, 4:25 am

From: "Alex James" alexjamesne...@gmail.com
Date: Fri, 21 Mar 2008 11:25:44 +0300
Local: Fri, Mar 21 2008 4:25 am
Subject: 1984: Grace Commission Report under Ronald Reagan showed IRS is a fraud that collects taxes for the Banking Dynasties

"100% of what is collected is absorbed solely by interest on the Federal Debt ... all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from government."
-Grace Commission report submitted to President Ronald Reagan - January 15, 1984

Ronald Reagan was promptly shot after he dared to criticize the Fed, on the same day that the Pope was shot. After recovering, he changed his mind and praised the Fed. About seven US Presidents have been assassinated for not cooperating with the Transatlantic Banking Dynasties (William Henry Harrison, poisoned, in 1841, Zachary Taylor, Lincoln, Garfield, McKinley and John F. Kennedy 1963; 7 if FDR's poisoning is counted).

Most of us feel sick when we realize that Not one dime of IRS money goes to the US Gov't, according to Reagan's Grace Commission: it all goes to pay interest on a bogus debt to the Private Federal Reserve (FED), just to allow paper money to circulate as "Federal Reserve Notes". The Federal Reserve is a private Corporation eventually owned by the Rockefellers and Rothschilds Dynasties through intermediary agents, designed to suck the capital dry from the U.S., as the Rothschilds do in Europe. Read Billions for the http://www.deepinfo.com/email/Billions4Bankers.htm Bankers, Debts for the People More Links at DeepInfo.com on Jekyll Island http://www.deepinfo.com/more/jekyll.htm .

The final report of the 1984 Grace Commission, convened under President Ronald Reagan, quietly admitted that none of the funds they collect from federal income taxes goes to pay for any federal government services. The Grace Commission found that those funds were being used to pay for interest on the federal debt, and income transfer payments to beneficiaries of entitlement programs like federal pension plans.

These comments were presented at the Close of the Citizens' Truth-In-Taxation Hearing.Washington D.C., February 27-28, 2002: IRS is a Trust
http://www.supremelaw.org/sls/31answers.htm Headquartered in Puerto Rico Not a Federal Agency The IRS is technically not an "agency" of the federal government, as that term is defined in the Freedom of http://www.law.cornell.edu/uscode/5/552.html
Information Act and in the Administrative http://www.law.cornell.edu/uscode/5/551.html
Procedures Act. The governments of the federal territories are expressly excluded from the definition of "agency" in those Acts of Congress. See 5 U.S.C. 551 http://www.law.cornell.edu/uscode/5/551.html (1)(C). All evidence indicates that they are a money laundry, extortion racket, and conspiracy to engage in a pattern of racketeering activity, in violation of 18 U.S.C. 1951 http://www.law.cornell.edu/uscode/18/1951.html and 1961 http://www.law.cornell.edu/uscode/18/1961.html et seq. They appear to be laundering huge sums of money into foreign banks, mostly in Europe, and quite possibly into the Vatican. See the national policy on money laundering at 31 http://www.law.cornell.edu/uscode/31/5341.html U.S.C. 5341 . Do federal income tax revenues pay for any government services and, if so, which government services are funded by federal income taxes? Answer: No. The money trail is very difficult to follow, in this instance, because the IRS is technically a trust with a domicile in Puerto http://www.supremelaw.org/authors/cooper/cooper.htm Rico. See 31 http://www.law.cornell.edu/uscode/31/1321.html U.S.C. 1321(a)(62). As such, their records are protected by laws which guarantee the privacy of trust records within that territorial jurisdiction, provided that the trust is not also violating the Sherman Antitrust http://www.law.cornell.edu/uscode/15/1.html Act.

"Like it or not, you are a slave. You admit you are a slave every April 15th! That's when you sign forms that "voluntarily" lay bare to the government the most private details of your life! And few people realize the income tax is a slave tax. It can never be compatible with the life of a free people". ALAN KEYES - Republican Nominee for President, unfortunately, the only Republican willing to speak out along with Ron Paul.

Interest On The Debt! http://www.geocities.com/cmcofer/interest.html

Sit down when you view it. People have fainted when they see the size of the Debt Hole we're now in!

The "President's Private Sector Survey on Cost Control", commonly referred to as the 1984 Reagan "Grace Commission Report" reveals that 100% of the "income tax" collected is applied against the interest of the national debt. The government operates on a deficit that is created from nothing by the Privately Owned Fed (owned by the same folks who own the major commercial banks) at interest, i.e. what could be created debt free and usury free by the Treasury has been usurped by the Banking Dynasties who have been ruling the World since ancient times. Taxes are a way of controlling, or manipulating the economy. They also give people a faith in the funny money -- makes it Near and dear to them. Balanced budgets and budget surpluses are a smoke and mirror trick. They sound really good, playwell for the people, but are nothing more than panderings. I'm not going into it, period, but if any should care to make the study, you will be at first incredulous, then angered by the depths of deception under which the people of this country labor.

Even the inventor of the electric light, Thomas Edison, joined the fray in criticizing the system of the Federal Reserve: "If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good, makes the bill good, also... It is absurd to say that our country can issue $30 million in bonds and not $30 million in currency. Both are promises to pay, but one promise fattens the usurers and the other helps the people."

In President Lincoln's words (he was assassinated by the Banksters' agent) ""The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest."

"In a recent conversation with an official at the Internal Revenue Service, I was amazed when he told me that 'If the taxpayers of this country ever discover that the IRS operates on 90% bluff the entire system will collapse'". -Henry Bellmon, Senator (1969)

"Our federal tax system is, in short, utterly impossible, utterly unjust and completely counterproductive [it] reeks with injustice and is fundamentally un-American... it has earned a rebellion and it's time we rebelled". -President Ronald Reagan, May 1983, Williamsburg, VA

"Our Income Tax system is a disgrace to the human race." -Jimmy Carter, said in 1976 by the then President-to-be

"Eight decades of amendments... to [the] code have produced a virtually impenetrable maze... The rules are unintelligible to most citizens... The rules are equally mysterious to many government employees who are charged with administering and enforcing the law". -Shirley Peterson, Former IRS Commissioner, April 14, 1993 at Southern Methodist University

"The wages of the average American worker, after inflation and taxes, have decreased 17% since 1973, the only Western industrial nation to so suffer". -Martin Gross, author of "The Tax Racket: Government Extortion From A to Z"
_____

1.
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http://www.geocities.com/cmcofer/quotes.html

They Told The Truth! ...About The Internal Revenue Service

JUNE 18, 2002
O'Neill Says Tax Code Is Too Complex
By EILEEN ALT POWELL
AP Business Writer

NEW YORK (AP) - Treasury Secretary Paul O'Neill said Tuesday he believed the complexity of the U.S. tax code was driving some companies to relocate to Bermuda and urged that tax regulations be simplified. "Our tax code is an abomination," he said.

He made the comment in response to a question about corporate relocations following a speech to the Greater New York Volunteer Committee, which promotes sales of U.S. Savings
Bonds.
_____

"An advanced society such as ours deserves better."
-Treasury Secretary Paul O'Neill, speaking of the Income Tax System in 2001
_____

"... the key question is: can we define 'income' in a fair and reasonably
straightforward manner? Unfortunately we have not yet succeeded in doing so".
-Shirley Peterson, former IRS Commissioner, April 1993
_____

"I don't like the income tax. Every time we talk about these taxes we get around to the idea of 'from each according to his capacity and to each according to his needs'. That's socialism. It's written into the Communist Manifesto. Maybe we ought to see that every person who gets a tax return receives a copy of the Communist Manifesto with it so he can see what's happening to him".
-T.Coleman Andrews, Commissioner of Internal Revenue, May 25, 1956 in US. News & World Report
_____

"Our tax system is based upon voluntary assessment and payment, not upon distraint". [haw haw]
-United States Supreme Court, in Flora v. United States
_____

"Our tax system is based on individual self-assessment and voluntary compliance". [haw haw haw]
-Mortimer Caplin, Internal Revenue Audit Manual (1975)
_____

"The United States has a system of taxation by confession".
-Hugo Black, U.S. Supreme Court Justice
_____

"Let me point this out now. Your income tax is 100 percent voluntary tax, and your liquor tax is 100 percent enforced tax. Now, the situation is as different as night and day. Consequently, your same rules just will not apply...".
-Dwight E. Avis, former head of the Alcohol and Tobacco Tax Division of the IRS, testifying before a House Ways and Means subcommittee in 1953
_____

"The purpose of the IRS is to collect the proper amount of tax revenues at the least cost to the public, and in a manner that warrants the highest degree of public confidence in our integrity, efficiency and fairness. To achieve that purpose, we will encourage and achieve the highest possible degree of voluntary compliance in accordance with the tax laws and regulations..." [ pure, unadulterated Bullsh_t ]
-Internal Revenue Manual, Chapter 1100, section 1111.1
_____

"Fear [true] is the key element for the IRS in achieving its mission. Without fear, the IRS would have a difficult time maintaining our so-called system of voluntary compliance ..." "Given the opportunity, the IRS will take the easy way out and grab whatever it can. The IRS does not really care about you and what your future may be".
-Santo Presti, former IRS Criminal Investigation Agent and author of "IRS In Action"
_____

"The IRS is an extraordinary example of the end justifying the means. The means of this agency is growth. It is interesting that the revenue officers within the IRS refer to taxpayers as 'inventory'. The IRS embodies the political realities of the selfish human desire to dominate others. Thus the end of this gigantic pretense of officialdom is power, pure and simple. The meek may inherit the earth, but they will never receive a promotion in an agency where efficiency is measured by the number of seizures of taxpayers' property and by the number of citizens and businesses driven into bankruptcy".
-George Hansen, Congressman and author of "To Harass Our People"

Go see just how B-A-D! http://www.geocities.com/cmcofer/irs-bad.html the IRS really is.
_____

"I have sat on many a promotion panel where the first question of panel members was 'How many seizures have you made?"'.
-Joseph R.Smith, eighteen-year IRS agent, testifying before Congress
_____

"This [audit] was made extremely difficult because [IRS] existing Systems were not designed to provide reliable financial information... on their operations".
-Comptroller Bowsher, Government Accounting Office, on the first-ever audit of the IRS in 1993.
_____

"The agency that is so strict on the way Americans keep their books cannot even pass a financial audit".
-Ted Stevens, Republican Senator from Alaska
_____

"Some techniques can be used only in connection with a full-scale program due to the nature of the tax situation and the need to avoid unnecessary taxpayer reaction. An example would be income tax returns compliance efforts aimed at the non-business taxpayer". [Huh? What'd he say?]
-Internal Revenue Service Manual, section 5221 "Returns Compliance Programs"
_____

About Social Security

"When you pay social security taxes, you are in no way making provision for your own retirement. You are paying the pensions of those who are already retired. Once you understand this, you see that whether you will get the benefits you are counting on when you retire depend on whether Congress will levy enough taxes, borrow enough, or print enough money...
-W. Allen Wallis, former Chairman of the 1975 Advisory Council on Social Security, May27, 1976
_____

"There is no prospect that today's younger workers will receive all the Social Security and Medicare benefits currently promised them". -Dorcas Hardy, former Social Security Commissioner and author of "Social Insecurity", quoted in the December 1995 Reader's Digest.
_____

'All we have to do now is to inform the public that the payment of social security taxes is voluntary and watch the mass exodus". -Walter E. Williams, John M. Olin Distinguished Professor of Economics at George Mason University in Fairfax, VA, January 24, 1996.
_____

"To lay with one hand the power of government on the property of the citizen, and with the other to bestow it on favored individuals... is none the less robbery because it is... called taxation".
-United States Supreme Court in Loan Association v. Topeka (18__ )
_____

About Money, Banking & The Federal Reserve

'In 1833, a small group of Socialists met in London, announcing their intentions of converting the British economic system from capitalism to socialism. This group chose the name "Fabian Society". One of the leading members of the Fabian Society, author George Bernard Shaw, perhaps summed it up best when he said, quote: "... Socialism means equality of income or nothing... under socialism you would not be allowed to be poor. You would be forcibly feed, clothed, lodged, taught, and employed whether you like it or not. If it were discovered that you had not character enough to be worth all this trouble, you might possibly be executed in a kindly manner; but whilst you were permitted to live you would have to live well" -Edgar Wallace Robinson in his 1980 booklet titled "Rolling Thunder"
_____

"A government that robs Peter to pay Paul can always depend on Paul's support." -
George Bernard Shaw, 1856-1950
_____

"All the perplexities, confusion and distress in America rise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit and circulation". -John Adams, in a letter to Thomas Jefferson in 1787
_____

"Gold is still the ultimate store of wealth. It's the world's only true money. And there isn't much of it to go around. All of it ever mined would fit into a small building - a 56 foot cube. The annual world production would fit into a 14 foot cube, roughly the size of an ordinary living room. If each Chinese citizen were to buy just one ounce, it would take up the annual supply for the next 200 years".
-Mark Nestmann, author of "How To Achieve Personal And Financial Privacy In A Public Age
_____

"I see in the near future a crisis approaching. It unnerves me and causes me to tremble for the safety of my country... the Money Power of the country will endeavor to prolong its reign"' by working upon the prejudices of the people, until the wealth is aggregated in a few hands and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war."
-Abraham Lincoln,- In a letter written to William Elkin just after the passage of the National Banking Act of 1863 and less than five months before he was assassinated.
_____

"The money power preys on the nation in times of peace, and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. It denounces, as public enemies, all who question its methods or throw light upon its crimes."
-Abraham Lincoln
_____

"If the American people ever allow private banks to control the issue of their currency first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered".
-Thomas Jefferson in 1802 in a letter to then Secretary of the Treasury, Albert Gallatin
_____

"I believe that banking institutions are more dangerous to our liberties than standing armies".
-Thomas Jefferson
_____

"... You are a den of vipers and thieves. I intend to rout you out, and by the grace of the Eternal God, will rout you out".
-President Andrew Jackson, upon evicting a delegation of international bankers from the Oval Office

"Give me control over a nation's currency and I care not who makes its laws" -Baron
M.A. Rothschild (1744 - 1812)

"The few who can understand the system (Federal Reserve) will either be so interested in its profits, or so dependent on its favors, that there will be no opposition from that class, while on the other hand, the great body of the people, mentally incapable of comprehending the tremendous advantages that capital derives from the system, will bear its burdens without complaint and perhaps without even suspecting that the system is inimical to their interests". [As they say, "Ignorance is bliss!"] -John Sherman, protege of the Rothschild banking family, in a letter sent in 1863 to New York Bankers, Morton, and Gould, in support of the then proposed National Banking Act
_____

".. we conclude that the [Federal] Reserve Banks are not federal ... but are independent privately owned and locally controlled corporations... without day to day direction from the federal government."
-9th Circuit Court in Lewis vs United States, June 24, 1982
_____

"Some people think the Federal Reserve Banks are US government institutions They are not... they are private credit monopolies which prey upon the people of the US. for the benefit of themselves and their foreign and domestic swindlers, and rich and predatory money lenders. The sack of the United States by the Fed is the greatest crime in history. Every effort has been made by the Fed to conceal its powers, but the truth is the Fed has usurped the government. It controls everything here and it controls all our foreign relations. It makes and breaks governments at will".
-Congressman Charles McFadden, Chairman, House Banking and Currency Committee, June 10, 1932
_____

"when you or I write a check there must be sufficient funds in our account to cover that check, but when the Federal Reserve writes a check, it is creating money".
-Boston Federal Reserve Bank in a publication titled "Putting It Simply"
_____

"We make money the old fashioned way. We print it."
-Art Rolnick, former Chief Economist, Minneapolis Federal Reserve Bank
_____

"Historically, the United States has been a hard money country. Only [since 1913] has the United States operated on a fiat money system. During this period, paper money has depreciated over 87%. During the preceding 140 year period, the hard currency of the United States had actually maintained its value. wholesale prices in 1913... were the same as in 1787".
-Kenneth Gerbino, former chairman of the American Economic Council
_____

"About all a Federal Reserve note can legally do is wipe out one debt and replace it with itself another debt, a note that promises nothing. If anything's been paid, the payment occurs only in the minds of the parties...".
-Tupper Saucy, author of "The Miracle On Main Street"
_____

"By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose".
-John Maynard Keynes, economist and author of "The Economic Consequences Of The Peace"
_____

"Inflation has now been institutionalized at a fairly constant 5% per year. This has been determined to be the optimum level for generating the most revenue without causing public alarm. A 5% devaluation applies, not only to the money earned this year, but to all that is left over from previous years. At the end of the first year, a dollar is worth 95 cents. At the end of the second year, the 95 cents is reduced again by 5%, leaving its worth at 90 cents, and so on. By the time a person has worked 20 years, the government will have confiscated 64% of every dollar he saved over those years. By the time he has worked 45 years, the hidden tax will be 90%. The government will take virtually everything a person saves over a lifetime".
-G. Edward Griffin, historian and author of "The Creature From Jekyll Island"
_____

"The real truth of the matter is, and you and I know, that a financial element in the large centers has owned the government of the US. since the days of Andrew Jackson. History depicts Andrew Jackson as the last truly honorable and incorruptible American president".
-President Franklin Delano Roosevelt, November23, 1933 in a letter to Colonel Edward Mandell House
_____

"The Founding Fathers of this great land had no difficulty whatsoever understanding the agenda of bankers, and they frequently referred to them and their kind as, quote, 'friends of paper money.' They hated the Bank of England, in particular, and felt that even were we successful in winning our independence from England and King George, we could never truly be a nation of freemen, unless we had an honest money system.

Through ignorance, but moreover, because of apathy, a small, but wealthy, clique of power brokers have robbed us of our Rights and Liberties, and we are being raped of our wealth. We are paying the price for the near-comatose levels of complacency by our parents, and only God knows what might become of our children, should we not work diligently to shake this country from its slumber! Many a nation has lost its freedom at the end of a gun barrel, but here in America, we just decided to hand it over voluntarily. Worse yet, we paid for the tyranny and usurpation out of our own pockets with "voluntary" tax contributions and the use of a debt-laden fiat currency!".
-Peter Kershaw, author of the 1994 booklet "Economic Solutions"
_____

Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the U.S., in the field of commerce and manufacturing, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it."
Woodrow Wilson - In his book entitled The New Freedom (1913)
_____

"The fact is that there is a serious danger of this country becoming a pluto-democracy; that is, a sham republic with the real government in the hands of a small clique of enormously wealthy men, who speak through their money, and whose influence, even today, radiates to every corner of the United States."
William McAdoo - President Wilson's national campaign vice-chairman, wrote in Crowded
years (1974)
_____

"The powers or financial capitalism had (a) far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences.

The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
-Prof. Carroll Quigley in his book Tragedy and Hope
_____

"In a small Swiss city sits an international organization so obscure and secretive... Control of the institution, the Bank for International Settlements, lies with some of the world's most powerful and least visible men: the heads of 32 central banks, officials able to shift billions of dollars and alter the course of economies at the stroke of a pen."
Keith Bradsher of the New York Times, August 5, 1995
_____

"The Federal Reserve Bank of New York is eager to enter into close relationship with the Bank for International Settlements....The conclusion is impossible to escape that the State and Treasury Departments are willing to pool the banking system of Europe and America, setting up a world financial power independent of and above the Government of the United States....The United States under present conditions will be transformed from the most active of manufacturing nations into a consuming and importing nation with a balance of trade against it."
Rep. Louis McFadden - (Chairman of the House Committee on Banking and Currency) quoted in the New York Times (June 1930)
_____

"The Federal Reserve (Banks) are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this Nation is run by the International Bankers."
Rep. Louis McFadden
_____

"(The Great Depression resulting from the Stock Market crash) was not accidental. It was a carefully contrived occurrence....The international bankers sought to bring about a condition of despair here so they might emerge as rulers of us all."
Rep. McFadden testified in Congress (1933). There were at least two attempts on his life by gunfire. He died of suspected poisoning after attending a banquet.
_____

"Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits."
Sir Josiah Stamp - President of the Bank of England in the 1920's, and the second richest man in Britain.
_____

"History shows that the money changers have used every form of abuse, intrigue, deceit and violent means possible to maintain control over governments by controlling the money and the issuance of it."
President James A. Madison
_____

"Nothing did more to spur the boom in stocks than the decision made by the New York Federal Reserve bank, in the spring of 1927, to cut the rediscount rate. Benjamin Strong, Governor of the bank, was chief advocate of this unwise measure, which was taken largely at the behest of Montagu Norman of the Bank of England....At the time of the Banks action I warned of its consequences.... I felt that sooner or later the market had to break."
Money baron Bernard Baruch in Baruch: The Public Years (1960)
_____

"Thus corporations finally claimed the full rights enjoyed by individual citizens while being exempted from many of the responsibilities and liabilities of citizenship.
Furthermore, in being guaranteed the same right to free speech as individual citizens, they achieved, in the words of Paul Hawken, 'precisely what the Bill of Rights was intended to prevent: domination of public thought and discourse.' The subsequent claim by corporations that they have the same right as any individual to influence the government in their own interest pits the individual citizen against the vast financial and communications resources of the corporation and mocks the constitutional intent that all citizens have an equal voice in the political debates surrounding important issues."

-David C. Korten, in his book, When Corporations Rule the World
_____

"Give me control over a man's economic actions, and hence over his means of survival, and except for a few occasional heroes, I'll promise to deliver to you men who think and write and behave as I want them to." -Benjamine A. Rooge
_____

"I consider the foundation of the Constitution as laid on this ground that "all powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are preserved to the states or to the people.


" ... To take a single step beyond the boundaries thus specially drawn around the powers of Congress is to take possession of a boundless field of power, no longer susceptible of any definition. The incorporation of a bank, and the powers assumed by this bill (chartering the first Bank of the United States), have not, been delegated to the United States by the Constitution."
-Thomas Jefferson - in opposition to the chartering of the first Bank of the United States (1791).
_____

"Whoever controls the volume of money in any country is absolute master of all industry and commerce."
President James A. Garfield
_____

These statements were made during hearings of the House Committee on Banking and Currency, September 30, 1941.

Note: Members of the Federal Reserve Board call hemselves "Governors". Governor Eccles was Chairman of the Federal Reserve Board at the time of these hearings.

* Congressman Patman: "How did you get the money to buy those two billion dollars worth of Government securities in 1933?"

* Governor Eccles: "Out of the right to issue credit money."

* Patman: "And there is nothing behind it, is there, except our Government's credit?"

* Eccles: "That is what our money system is. If there were no debts in our money system, there wouldn't be any money."

* Congressman Fletcher: "Chairman Eccles, when do you think there is a possibility of returning to a free and open market, instead of this pegged and artificially controlled financial market we now have?"

* Governor Eccles: "Never, not in your lifetime or mine."
_____

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