New York Times Falsifies 169

New York Times Falsifies 169: "The New York Times published a flat-out untruth on Feb. 7 about the Federal Reserve Act of 1913. And the untruth came from the pen of a distinguished American academic who is author of many much-touted works of history.

In a commentary in the Times, entitled “The Value of Other People’s Money,” Dr. Melvin I. Urofsky, a professor at Virginia Commonwealth University, reflected on the origins of the congressional measure that created the Federal Reserve System. He said that the measure “allowed Congress to take away banks’ control over currency.” In fact, nothing could be further from the truth.

Dr. Urofsky was dead wrong. The New York Times was guilty of perpetrating a falsehood, something which should come as no surprise, considering the fact that The New York Times—which fancies itself America’s newspaper of record—has long been the daily media voice in the United States of the international banking dynasties that control the American money system through their domination of the Fed."