The dollar represents a one dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy Government Bonds…

- Wright Patman

There are many reasons why the general public doesn't really understand our monetary system. In the first place, money is something that people tend …

- Wright Patman

Also, the Federal Advisory Committee should be enlarged and reorganized. Members should be chosen for the broadest possible representation of the pub…

- Wright Patman

The Federal Reserve is the overlord of the money supply. If these two are not steering in the same direction, they can either neutralize each other o…

- Wright Patman

If the Federal Reserve pursues a policy which Congress or the President believes not to be in the public interest, there is nothing Congress can do t…

- Wright Patman

There have been times when the Federal Reserve has restricted the money supply and raised interest rates to gain an end, which had much better been l…

- Wright Patman

I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money. I beli…

- Wright Patman

In a democracy the responsibility for the Government's economic policies, which so affect the economy, normally rests with the elected representative…

- Wright Patman

The Open Market Committee, as presently established, is plainly not in the public interest. This committee must be operated by purely public servants…

- Wright Patman