Answers From LaRouche


Q:
Why didn't Roosevelt abolish the Federal Reserve?
                              
  - from November 30, 2023 Copenhagen Cadre School

Question: Actually, there's one thing I've always wondered about, historically, when it comes to Roosevelt, because you've described the difference in political thinking, or fundamental political organization between Europe and the United States, as it was originally conceived. But, it seems to me, that the Federal Reserve Act of 1913, is a fundamental breach with the American System. And I've always wondered--I mean, it's clear that Roosevelt ignored the Federal Reserve, but why didn't he abolish it? I never understood that.

LaRouche: Well, you've never [tried to?]. Yes, it was--the Federal Reserve Act was a treasonous act. It was unconstitutional. It's a violation of the explicit terminology of the Constitution itself. It's in contradiction to everything understood.

Now, actually, it's more interesting to look at what the powers were involved. Who created the Federal Reserve System? The U.S. Federal Reserve System, was launched by King Edward VII of England, who, through his banker in London, the grandfather of the wife of Lord Louis Mountbatten--to show how dismal things became. And this banker, in London, had an agent in New York. This agent in New York, was the fellow who cooked up the design for the Federal Reserve System.

This banker, was the fellow who also took a fellow called E.H. Harriman, who was a real-estate speculator in his stable, and he used Harriman as the nominee, to cover for King Edward VII's financial investment in a controlling interest in the Union Pacific Railroad. Because the King of England did not want to be publicly identified, as the owner of these shares, so he used a nominee: E.H. Harriman, who was the father of Averell Harriman, and so forth and so on.

But, what you had: Harriman was a powerful influence in the Democratic Party. And Harriman was the same Harriman, who acted to put Hitler into power in Germany in 1933; who, together with the former head of the Bank of England, funded Hitler's being put into power.

So you have fascists, in the Democratic as well as the Republican Party, in the United States.

That all of Roosevelt's problems were faced with this reality, of this Anglo-American, or Anglo-American-Canadian, power bloc centered in the New York financial district, which covered both parties. And, to do things, he had to, sometimes, circumvent these changes, rather than make changes.

Many people in the United States make an issue of the Federal Reserve System, in and of itself. I say, "You may be well-meaning, but you're fools." Because, if you want to change the system, you have to discover the power to make the change that your proposing. And, that's where the problem lies. The problem is, people say today, "Well, Roosevelt didn't overthrow it." So what? Roosevelt did not have the power to overturn it. Now, maybe I can get the power to over turn it! And, that's history as a process, rather than history as a collection of issues.

-30-

Paid for by LaRouche in 2004

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