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The Official Counterfeiter: A Cartoon Booklet For Congress

Written by Gary North on July 31, 2014

Back in 1969, Vic Lockman published a cartoon booklet exposing the Federal Reserve System. Lockman was a cartoonist for Disney. He did not do the final cartoons. He wrote the story lines and provided accompanying cartoons. Then the in-house Disney cartoonists re-drew them.

Lockman had been reading my essays on the Federal Reserve. He created The Official Counterfeiter as an easy-to-grasp explanation of fractional reserve banking. He updated it in 1974.

Unlike virtually all popular criticisms of the Federal Reserve, this booklet reported that the FED returns to the Treasury most of money it makes from interest paid the interest it earns.

LockmanFEDLook at the figures in 1974. The debt held by the FED was $140 billion. Today, it is over $4.4 trillion.

You can download the booklet. Click here.

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14 thoughts on “The Official Counterfeiter: A Cartoon Booklet For Congress

  1. Gen Early says:

    INFLATION Anyone? You work harder for less, own less, the "Dollar" is worth less……….worthless only 3 cents left on the 1913 Dollar. Gradual Embezzlement is harder to see and even harder to prosecute. If you keep funding this criminal enterprise you will be left holding the bag, and it's empty. Convert your wealth into any hard assets before 2015. CYA.

  2. It really is simple: everybody wants to make money. Bankers make money by collecting interest on loans. They want everybody in debt. Politicians make money selling favors. So what has Congress done to make life better for the average person, without driving them deeper into debt?

  3. "There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final or total catastrophe of the currency system involved." . . . economist, Ludwig von Mises (1881-1973) . . .

  4. Rabelrouser says:

    Maybe this is the best way we can get those who can not understand to finally get it. A cartoon, simple and with pictures yet.

  5. Same with soc sec disability. Say, you get hurt and after 6 months you submit an application to ss disability for an income. They then turn it down, as usual. You then find that you are solicited by a law firm guaranteeing that they will get your ss disability for you. You accept and they do get it for you.
    Now comes the surprise: When you first hire a disability attorney or advocate, whether you are filing for SSDI or SSI, you must sign a fee agreement that allows the SSA to pay your attorney if your claim is approved. http://www.disabilitysecrets.com/question16.html. That's right. ss pays your lawyer to beat them at this game.
    Those who you sent to represent you came up with this scheme.
    If you vote for the incumbent you may as well resign yourself that you are going to get shaken down every time you pay your taxes. Vote for the other guy for once. Let's put a scare into them and maybe gain their respect.

  6. icetrout says:

    sound's like a good American Tradition to start…. never vote for an incumbent again… always vote for the new guy… put an end to lifers!

  7. This is why a GREAT CRASH is coming. No one can keep making money with an automatic debt attached to it. How is that possible?

    You can see it was designed to keep one oppressed only. No other purpose!

  8. Agree, except if you happen to find an incumbent who actually upheld the principles of the Constitution and made decisions based on what was best for the country and its citizens in the long run, I' work hard to keep him or her around for a while.

  9. icetrout says:

    4-6 years for a lifetime is enough for a Citizen… there are millions of us Citizens who should get a chance… & lawyers are automatically disqualified !!!

  10. New School says:

    I understand that the Fed takes out big salaries for its administrators and its hirelings. Also there are large expenditures on conferences, travel, and various perks. The money is "paid back into the Treasury" only after the folks at the Fed have made a very good living.

  11. New School says:

    In addition, the Fed is handing out free money to the big banks, and this money does NOT return to the Treasury. This is how it works. 1. The Fed creates money out of thin air. 2. The Fed "lends" the money to its friends, the big banks, with no strings attached, i.e. no requirement to lend it out. 3. The Fed then allows the banks to redeposit much of the money back at the Fed rather than lending it into the economy. 4. The large banks receive a greater interest rate from the Fed than they borrowed the money for originally, and because of the great sums involved, profits are made. This constitutes a 100% free transfer of wealth to the banking interests. Shouldn't this practice be illegal?

  12. The money is never paid back into the treasury because governments do NOT earn any money they only create it and SPEND it . All we are seeing now is a dying system of corruption and basically cheating the populace for 100 years. So all the debt has piled up and now we all see what the truth was all along ? Is is all a giant ILLUSION and a ponzi scheme ti keep you hooked in a false system created by the banking elites for their benefit ! Nothing new , at all and I explain it all in great detail with many links and videos at my site http://www.downtoearththinking.com. Everybody should find out the truth so you actually understand and all are welcome!

  13. Gold and silver miners produced the raw material for our previous "constitutional money supply" without introducing new money into our economy by debt. What can the average taxpayer produce today to increase the money supply? Nothing, he can only borrow from a corrupt banking system. How is interest paid? It isn't! The interest bill is only passed on to the next poor sucker. Government trying to "guarantee" the banking system without increasing the money supply with a "debt free" dollar, is the reason this is headed for a collapse. Unfortunately, any politician even suggesting such a move will probably bring about his demise!

  14. The real and Official Counterfeiter is Satan when he authored the Koran and many other holy books for cults as his version of the Bible. If you want to verify any of these "holy books" follow the one page proof for the Bible !!! http://www.GodAuthoredBible.com