Forget the Audit: Just Go Ahead &
Abolish the Federal Reserve
By Jim Traficant
ON MARCH 17, 1993, I addressed the
House of Representatives in one of the many “budget” debates.
Over the past 16 years, many publications and books have
reprinted my speech.
They viewed my speech as being on
target. Researchers have written to me regarding the speech,
confused because it was printed in two areas of the
Congressional Record. My floor remarks were brief, but I
inserted the entire speech into the “extension of remarks”
section of the record.
Nevertheless, the speech stands
today as prophetic. America is bankrupt, and it’s growing
worse by the day. The U.S. government was technically
dissolved by the “Emergency Banking Act” of March 9,
1933. THAT’S A FACT.
If you have any doubt, just look
around. Foreclosures and unemployment run rampant. The dollar
is dropping so low it could fit under a closed door with a top
hat on, yet every day the mainstream media is trying to
convince us that the recession is over. Who’s kidding whom? If
you take Social Security and Medicare out of our economy, it’s
a full-blown depression—a total belly-up
The real rub emanates from the fact that
the “trustees” who preside over U.S. bankruptcy are the
international bankers, via the United Nations, the World Bank
and the International Monetary Fund.
I proclaim that
all U.S. offices, officials and departments are now operating
within a de facto status in name only under “Emergency War
Our constitutional form of government was
technically dissolved and replaced by a so-called “democracy,”
a government in actuality being a socialist-communist order
under a new governor for America.
You must be thinking
that I’ve lost my marbles by now—I don’t blame you. But, here
come the facts. This chicanery occurred when authority was
transferred and placed in the Office of the Secretary of
Treasury under the governor of the International Monetary
Fund. [Public Law 94-564].
In essence, the dollar was
changed from a “promise to pay a dollar in silver or gold” to
a “federal reserve note.” Now think about it: the dollar
became a “promise,” not “money.”
The U.S. dollar is
a debt instrument, nothing more than another debt obligation
of the American people. And where is this obligation to be
paid? You probably guessed it, to the Federal Reserve Bank.
Let’s tell it like it is. Federal Reserve notes are
literally unsigned checks written on a closed account. It’s
nothing more than inflatable paper creating more debt through
inflation every time our currency is devalued.
is, inflation is actually another tax; invisible, never seen,
but a tax just the same. I don’t know about you, but I always
thought that a “contract” under common law is only valid if it
involves an exchange of some “good and valuable
If that’s not enough to frost your
pumpkins, check this out: The Federal Reserve System is a
sovereign power structure separate and distinct from the U.S.
government. It is in fact, a private corporation.
the people of these United States, owe this private
corporation consisting of international bankers a mountain of
debt. The collateral on this debt is our very own homes and
We the people are nothing more than tenants
and sharecroppers, renting our own property from the Federal
Reserve Bank. Most Americans are mortgaged to the hilt with
few or no assets, working harder and profiting less,
constantly in debt to a private corporation they know little
or nothing about.
BEAM ME UP. This has gone on way too
long—WAKE UP AMERICA.
This is nothing more than
economic slavery to a bunch of international fat cats. Our
Constitution has been turned upside down, violated and
discarded like toilet paper. Unbelievable.
rocket science folks—CONGRESS SHALL COIN MONEY, so mandates
the Constitution. It’s very clear to me: the Federal Reserve
System should be abolished, not just audited so the
politicians can feel good, but abolished. Enough is enough. In
closing I say “audit this.”
Next week—AIPAC. You don’t
want to miss it.
James A. (Jim) Traficant, Jr. was
born in Youngstown, Ohio on May 8, 1941. He received B.S. and
M.S. degrees from the University of Pittsburgh, where he was a
well-known football star. He also received a M.S. degree from
Youngstown State University in 1976. For ten years he served
as executive director of the Mahoning County (Ohio) Drug
Program and from 1981-1985 he served as sheriff of Mahoning
County, prior to his election to the U.S. Congress as a
Democrat in 1984. He was re-elected by overwhelming margins
every year up until 2002 when, following his conviction on
trumped up corruption charges, he was expelled from the House
of Representatives. Despite his conviction and expulsion and
being sent to prison for a seven year term Traficant still won
15% of the vote running for re-election to the House in the
2002 election as an independent. He recently completed a
seven-year prison sentence, having refused to seek a pardon or
clemency, refusing to admit to or apologize for crimes he did
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(Issue # 46,
November 16, 2009)