Nixon vs. the Federal Reserve

Did Nixon’s economic policies irk and scare the big-money interests and the Federal Reserve? Is this part of the reason why he was chased out of office?

I had never heard this particular argument before, until I began reading an interesting, semi-autobiographical book by R. Duane Willing, titled “The American Caliphate”. (A word on the book title: The meaning of this title becomes more clear if you juxtapose it with the title of his previous, more philosophical work: “Money: The 12th and Final Religion”.)

I will let Willing — a federal employee during the Nixon era — make the case:

———

The hidden secret since the beginning of modern capitalism is that money is created and managed by bank control over checking accounts in the loan-making process. This is the secret of how money is created from thin air.

President Nixon was preparing the Federal Home Loan Bank Board to change the traditional role of American savings and loan associations. They were to change from community-centered, mutually-owned deposit and savings associations to regular commercial banks that have money creation powers. The S&L system was designed to collect local savings in order to build local housing. Ownership of the S&L was indicated by the existence of the savings account. With the Nixon Plan, they would be able to issue equity shares and be listed on the stock exchanges just like regular commercial downtown banks. They would, for the first time, have accounts for both checking and savings. The converted savings and loan associations would have full banking powers to make loans and investments, providing a first full-service nationwide bank for Americans.

The Nixon White House had quietly drafted and sponsored before Congress the Federal Charter Bill. The passage of this bill would have changed U.S. financial history. The financial coven of Wall Street and Federal Reserve central banking was about to be challenged like never before.

———

It was obvious, from the view at my humble post at the FHLBB, that President “Tricky Dick” Nixon had really alarmed the powerful.

———

The “Watergate” saga was obviously just Senatorial theater. It was a ritual ceremony to conceal from public awareness the death march aimed at the president as punishment for his tampering with the S&L system that financed housing in America. The Wall Street Great Merchants as owners of the Senate were personified by the Senate appointment of Nelson Rockefeller as vice president. They were making certain that the money dreams of “Tricky Dick” and his vision for the Republic protected with a network of converted Savings and Loan associations was doomed.

———

[There had been] power skirmishes between the Fed and the Treasury…but the Fed prevailed. Then, out of the blue, in 1969…President Nixon was detected by Wall Street as surreptitiously planning a secret great challenge to the Federal Reserve system and Wall Street powers. In short order, Nixon became the target of bizarre allegations and calls for impeachment.

———

The careful construction of public outrage against President Nixon, led by The Washington Post and made national by television, was a masterpiece of propaganda. If done by a foreign country, the propaganda would be recognized as “active measures”. The term “active measures” is used by secret agents to describe such things as bribery and other high-level subversion techniques to include the hiring of agents of influence to control public opinion in the media.

———
All excerpts are from chapters One and Two of “The American Caliphate of BIZWOG: The Final World Order”. (Author’s website).