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The History of the Soulless Money Changers
"Their perverted hearts plot
evil,
and they constantly stir up
trouble."
- Proverbs 6:14
"Financial history has numerous examples of
preying on the weak, crushing competition, socializing risks, privatizing
profits, redistributing wealth upward to a financial oligarchy while creating
"tollbooth economies" with debt bondage." - Stephen Lendman
"So you think that
money is the root of all
evil.
Have you ever asked what is the
root of all money?" -
Ayn Rand
(Alan Greenspan, an
Ayn Rand
disciple, flunked this pop
quiz!)
"Bank-money exchange
reflects and creates a system of elite control and human slavery.
Reciprocal credit exchange reflects and creates a democratic system
on
a level monetary playing field." - Richard C. Cook
"I will not say much
about the international dimensions of the issue but will take as self-evident
that, in light of the global nature of financial institutions and markets, the
reform of financial regulation and supervision should be coordinated
internationally to the greatest extent possible."
- Ben S. Bernanke
speaking to the Council on Foreign Relations 03/10/09The chairman of the Federal Reserve Ben S. Bernanke suggests
that
we turn over our sovereignty to the Bank of International Settlements.
Ben
S. Bernanke suggests we take the advise of the Financial Stability Forum
a
small secretariat housed at the Bank for International Settlements in Basel,
Switzerland.
Ben S. Bernanke, the chairman of the Federal Reserve, in the
above address mentioned
"the currently decentralized system of financial
regulation in the United States**" and stated,
"Even with the sorts of
actions I have outlined here today,
it is unrealistic to hope that
financial crises can be entirely eliminated,"
which is most certainly true
under the control of the soulless central bankers.
** bold lie -
Ayn Rand's
take
"The budget should be balanced,
the Treasury should be refilled,
public debt should be reduced,
the
arrogance of officialdom should be tempered and controlled,
and the
assistance to foreign lands should be curtailed lest Rome become bankrupt.
People must again learn to work, instead of living on public assistance." -
Cicero, 55 BC
"Awareness of the hideous evil of
the financiers' plans to destroy the soul of humanity is growing."
-
Richard Cook
"Economists"
continually try and sell the public the idea that recessions and/or depressions are
a natural part of what they call the
"business cycle".
This is simply not the
truth.
"When you are dealing with a
world chain of financial consulates,
all of them linking up in a world
system, none of them to be regarded as American banks, or British banks, or
French banks, or Italian banks, or German banks, but all of them members of the
World Banking System, you are
obviously not dealing with individuals who are trying to make a living.
You
are then dealing with a mighty force for good or ill, and thus far,
sad
truth to
know, the ill is mountainous in comparison.
The people
must be helped to think
naturally about
money. They must be told what it is,
and what makes it money, and what
are the possible tricks of the present system which put nations and peoples
under control of the few. " -
Henry Ford
In 48 BC Julius Caesar took the
power to coin
money minting coins for the benefit
of all. Julius Caesar established massive construction projects and built great
public works winning the love of the common
people. The soulless money changers
assassinated Julius Caesar for taking the power to mint coin. After Julius
Caesar's assassination came the demise of plentiful
money in Rome, taxes increased, as
did corruption. Eventually the Roman
money supply was reduced by 90 per
cent, which resulted in the common Roman citizen losing their lands and homes.
Wealth became concentrated in
the hands of a few soulless money
changers.
Around 30 AD
Jesus uses physical force - the only
time throughout his ministry - to throw the
soulless money changers out of the
Temple. When Jews came to Jerusalem to
pay their Temple tax, they could only pay it with a half-shekel, a half-ounce
of pure silver, about the size of a quarter. The half-shekel was the only pure
silver coin of assured weight at that time without the
image of a
pagan Emperor, and therefore to the
Jews it was the only coin acceptable to
God. Unfortunately these coins were not
plentiful as the soulless money
changers had cornered the market on
them. They used their currency monopoly to make exorbitant
profits, forcing the
Jews to pay the price demanded.
Jesus threw the
soulless money changers out as their
monopoly on these coins and the methods
the soulless money changers used to
extract wealth from their brethren totally
violated the sanctity of God's
house.
"Many biblical scholars believe the single event
that doomed Jesus
was his scene in Jerusalem's huge temple, turning over
the moneychangers' tables,
trying to stop them from making an unnecessary
profit off the people."- Davidson Loehr
The
soulless money changers were the
Pharisees who called for
Jesus' death days later.
By 1024 AD the
soulless money changers
controlled Medieval England's
money supply as goldsmiths. The
idea of paper
money being used for trade arrived
from China. Paper money was simply a
receipt you would get after depositing
gold with a goldsmith in their
safe rooms or vaults. This paper promissary note replaced metal coins for trade
as it was far more convenient than carrying around a lot of heavy
gold and silver coins. Over time,
to simplify the process and to hide the owner of the
wealth, the receipts were made to the
bearer, rather than to the individual depositor, making it readily
transferable without the need for a signature. This broke the tie to any
identifiable deposit of
gold.
The soulless money
changers, recognizing that only a fraction of the
depositors of
gold ever came in to demand their
gold at any one time, began to
loan out paper promissary notes made payable
to the bearer. These "excess" paper
promissary notes made payable to the bearer were not backed by
gold held in
depositories. No one was allowed to
audit the gold
deposited. The
soulless money changers were able to
collect interest on the excess notes.
Loaning out more money than one
possess, fractional reserves, is the same as printing
money.
{"It
started with goldsmiths. As early bankers, they initially provided safekeeping
services, making a profit from vault storage fees for gold and coins deposited
with them. People would redeem their "deposit receipts" whenever they needed
gold or coins to purchase something, and physically take the gold or coins to
the seller who, in turn, would deposit them for safekeeping, often with the
same banker.
Everyone soon found that it was a lot easier simply to use
the deposit receipts directly as a means of payment. These receipts, which
became known as notes, were acceptable as money since whoever held them could
go to the banker and exchange them for metallic money. Then, bankers discovered
that they could make loans merely by giving their
promises to pay, or bank notes, to
borrowers.
In this way, banks began to create money. More notes could
be issued than the gold and coin on hand because only a portion of the notes
outstanding would be presented for payment at any one time. Enough metallic
money had to be kept on hand, of course, to redeem whatever volume of notes was
presented for payment.
Transaction deposits are the modern counterpart
of bank notes. It was a small step from printing notes to making book entries
crediting deposits of borrowers, which the borrowers in turn could "spend" by
writing checks, thereby "printing" their own money." - Chicago Federal Reserve,
Modern Money Mechanics}
This was
the birth of the system we know today
as Fractional Reserve Banking, and like this system of today this meant the
soulless money changers were able to
make astronomical amounts of money
by loaning out, what was essentially
fraudulent paper promissary notes made
payable to the bearer, as they were reciepts for
gold the
soulless money changers did not
possess.
For example a soulless
money changer would pay interest of 6 percent on
gold to a
depositor, and then charge 6
percent, or perhaps 10 percent, interest on the paper "payable to the bearer"
borrowed. As they would lend out perhaps 10 times what had been
deposited, while they are paying you
6% interest, they could be making 60 percent or 100 percent the value of the
original gold in the interest they
charged.
The soulless money changers
wealth was built upon
gold
deposited with them that they did
not own.
Banking families intermarried and kept to themselves,
resulting in international dynasties of banking families because they could not
let the population at large know that they dealt in fractional reserves.
Frederick Soddy defines banks as: "Institutions which pretend to
lend money, and do not lend it, but
create it, and when it is repaid to them,
de-create it and have achieved the physically impossible miracle thereby, not
only of getting something for nothing but also of getting perennial interest
from it."
"The truth is that no bank
lends as much as a penny of the money deposited with it. Every bank
loan or overdraft is a creation of
entirely new money (credit) and is a
clear addition to the amount of money in the community. It is no more
than a record in a bank ledger or computer and is
actually the creation of new
money out of nothing." - Jane
Birdwood
"The bank-debt currency system we have today is founded upon
interest. That's the motivation for banks to create money in the first place. Creating
money is only a side effect,
irrelevant to the commercial bank, of their main purpose of earning a profit.
Another side effect is the necessity of perpetual economic growth and,
consequently, the conversion of all common wealth into
private monetary wealth.
The
phenomenon of interest
boils down to the belief that "money costs
money". Interest is the price we
pay, or extract, for the use of money, which in the present age of
specialization equates to survival. Interest, therefore, encodes the
belief that the means of survival are
precious, rare, scarce, and therefore the objects of
competition.
Lending
money with interest amounts to, "I
will help you survive, but only if you pay me."
Interest is also akin to
fire, the foundation of modern
technology. To keep it going requires the addition of ever more fuel, until
the whole world is
consumed, leaving but a pile of
dollars - or ash." - Charles
Eisenstein
"A warehouseman, taking goods deposited with him and devoting
them to his own profit, either by use or by loan to another, is guilty of a
tort, a conversion of goods for which he is liable in civil, if not in
criminal, law. By a casuistry which is now elevated into an economic principle,
but which has no defenders outside the realm of banking, a warehouseman who
deals in money is subject to a diviner law: the banker is free to use for his
private interest and profit the money left in trust. . . . He may even go
further. He may create fictitious deposits on his
books, which shall rank equally and ratably with actual deposits in any
division of assets in case of liquidation." - Elgin Groseclose, Director of the
Institute for International Monetary Research 1934
The soulless money
changers soon discovered that their control of this
fraudulent paper promissary note
money supply, as there was more
paper in circulation than in deposits, gave them
control over the
economy and the assets of many of those who
had borrowed money. The
soulless money changers exacted
their control of the
economy by manipulating the
money supply - easy
money and tight
money -
economic contraction and expansion.
The way the soulless money
changers did this was to make money easy to borrow (low interest
rates - refinance today! -
home equity loans for any purpose!
- cars: no down, 5 years at 1%) which increased the amount of
money in circulation, then the
soulless money changers suddenly
tighten the money supply by making
loans more difficult to get or by stopping the offering of loans altogether. As
a certain percentage of the people are now unable to repay their previous loans
by not being able to take out new loans, those people are forced to sell their
assets to the soulless money
changers for pennies on the dollar.
This is exactly what happens in
the global economy of today, but is referred to with
words like, "the business cycle," "boom and
bust," "recession," "depression", the tech bubble" and the "the housing bubble"
in order to confuse and
distract.
{In a fractional reserve banking system, such as the fiat paper
money/fungible asset system used internationally, the debt has to continue to
climb until, at some point, it must be forgiven. This is because the debtors
can never aquire enough capital to fully pay off their
debt.
Assume a closed system were money is only created through a loan
exactly like the one in operation internationally today. In fractional reserve
banking at a 10% fractional reserve when $10 is deposited $100 is loaned out.
Assuming an annual interest rate of 10% the borrower is required to pay $110
back to the bank, but $10 is still held as reserves by the bank and only $100
has been put out into circulation. Where does the extra $10 to be paid as
interest come from?
"Imagine the first bank which prints and lends out
$100. For its efforts it asks for the borrower to return $110 in one year; that
is it asks for 10% interest. Unwittingly, or maybe wittingly, the bank has
created a mathematically impossible situation. The only way in which the
borrower can return 110 of the bank's notes is if the bank prints and lends
more. The result of creating 100 and demanding 110 in return, is that the
collective borrowers of a nation are forever chasing a phantom which can never
be caught; the mythical $10 that were never created. The debt in fact is
unrepayable. Each time $100 is created for the nation, the nation's overall
indebtedness to the system is increased by $110. The only solution at present
is increased borrowing to cover the principal plus the interest of what has
been borrowed." - Roger Langrick
"Let's trace how interest leads to
scarcity, competition, and the necessity of perpetual growth. Since nearly all
money in the
economy is being lent out at interest
through one mechanism or another (deposits, loans, etc.), it follows either (1)
that some of these loans must end up in default, or (2) that the supply of
money must continue to grow. If I am
to pay back a loan with interest, I must obtain that extra amount beyond the
principal from somewhere else. If the money supply is not growing, then a
percentage of wealth-holders corresponding to the prevailing interest rate must
go bankrupt. In other words, if there are one thousand dollars in the world,
and they are lent out at ten percent interest to ten people, then one must go
bankrupt to supply the other nine with the money to pay back their loans after
one year. That is how interest sets us in competition. At any given
moment, we collectively owe more
money than
exists at that
time." -
Charles
Eisenstein
"The present Federal Reserve System is a flagrant case of
the federal government conferring a special privilege upon bankers. The federal
government hands to the banks its credit, at virtually no cost to the banks, to
be loaned out by the bankers for their own private profit. Still worse,
however, is the fact that it gives the bankers practically complete
control of the amount of
money that shall be in circulation.
Not one dollar of these Federal Reserve notes gets into circulation without
being borrowed into circulation and without someone paying interest to some
bank to keep it circulating. Our present money system is a
debt money system. Before a dollar can
circulate, a debt must be created. Such a
system assumes that you can borrow yourself out of debt." - Willis A.
Overholser
"Economists respond to
this fundamental question by fanning the flames: it obviously works in
practice, so we should all keep using it. If we
think about it too
much, it may stop working. Traditional
money systems depend on faith and
general ignorance to stay afloat." - Jason Rohrer}
In 1100 AD
King Henry I took away the power the
soulless money changers to mint
money by creating a completely new form of
currency in the form of a "talley stick." The talley stick lasted 726 years
until 1826 even though other currencies came and went in that same period and
ran alongside the talley sticks. The talley stick was a stick of polished wood
into which notches were cut along one side, to indicate the denomination of
money the stick represented. The
stick was then split lengthwise through the notches, so that both pieces had a
record of the notches. The King kept one half to protect against counterfeiting
and the other half was circulated into the economy as
money. The talley stick was the most
successful money system in
history, as the King demanded that all
the King's taxes had to be paid in, "talley sticks," so this increased their
circulation and acceptance as a legitimate form of
money.
This system worked
well in keeping the economic
power away from the
soulless money changers in England.
"If one who has borrowed from the Jews any sum, great or small, die before
that loan be repaid, the debt shall not
bear interest while the heir is under age, of whomsoever he may hold; and if
the debt fall into our hands, we will not
take anything except the principal sum contained in the bond. And if anyone die
indebted to the
Jews, his wife shall have her dower and
pay nothing of that debt; and if any
children of the deceased are left under age, necessaries shall be provided for
them in keeping with the holding of the deceased; and out of the residue the
debt shall be paid, reserving, however,
service due to feudal lords; in like manner let it be done touching
debts due to others than
Jews." - Magna Carta 1215 AD
In
1225 AD St. Thomas Aquinas argued that the
charging of interest was wrong because it applies to "double charging,"
charging for both the money and the
use of the money. This
concept followed the teachings of
Aristotle that taught the purpose of currency was to serve the members of the
social culture by facilitating
the exchange of goods and services. Interest was
contrary to
reason and
justice because it put an unnecessary
burden on the use of money simply a
way to facilitate trade in
resources or services. Church
law in Middle Ages Europe forbade the
charging of interest on loans making it a crime called, "usury."
"Usury is the practice of lending
money at excessive interest rates.
This has for centuries caused great misery and poverty for Gentiles. It has
brought strong condemnation of the
Jews!" - Diodorus Siculus Greek
historian
"The Jews should not be
allowed to keep what they have obtained from others by usury; it were best that
they were compelled to work so that they could earn their living instead of
doing nothing but becoming avaricious." - St. Thomas Aquinas
Christians were not allowed by their
religion to charge interest on any
money lent as this was considered
usury.
The Jews were not so
incumbered.
In the Mishneh Torah of Moses Maimonides in the the
Book of Judgments Jews are
required to not charge interest to other Jews but to charge interest to a Gentile
and to press the Gentile for payment.
"The
Jewish usurers are fast-rooted even in
the smallest villages, and if they lend five gulden they require a security of
six times as much. They charge interest, upon interest, and upon this again
interest, so that the poor man loses everything that he owns." - Desiderius
Erasmus
In Talmudism a
Jew may not charge interest to another
Jew - only a non-Jew.
"Turn to
the pages of the Talmud and
you will find that they made an art of lending
money. They were taught early to
look for their chief happiness in the
possession of
money. They fathomed all the
secrets that lay hid in
money. They became
Lords of Money and
Lords of the World." - Professor
Werner Sombart
"Jewish usurers
bleed the poor to death and grow fat on their substance." - Bernardino de
Feltro
In 1275 AD Edward I of England issues the Statute of the
Jewry outlawing the practice of usury.
"Jews have never, like other people, gone
into a wilderness and built up a land of their own. In England in the 13th
century, under Edward I, they did not take advantage of the offer by which
Edward promised to give them the
very opportunity Jews had been crying
for, for centuries." After imprisoning the entire
Jewish population, in his domain for
criminal usury, and debasing the coin of the realm; Edward, before releasing
them, put into effect two new sets of laws.
The first made it illegal for a Jews in
England to loan money at interest.
The second repealed all the laws which kept Jews from the normal pursuits of the
kingdom. Under these new statutes Jews
could even lease land for a period of 15 years and work it. Edward advanced
this as a test of the Jews sincerity
when he claimed that he wanted to work like other people. If they proved their
fitness to live like other people inference was that Edward would let them buy
land outright and admit them to the higher privileges of citizenship. Did the
Jews take advantage of Edwards
decree? To get around this
law against usury, they invented such new methods of skinning the peasants and
the nobles that the outcry against them became greater than ever. And Edward
had to expel them to avert a civil war. It is not recorded that one
Jew took advantage of the right to till
the soil." - Samuel Roth*
In France the Lombards
became synonymous with the Cahorsins. Most European cities still have a street
named Lombard street after the pawn shop that once housed there. In Dutch, the
name for a pawn shop is still lommerd, and the same etymology persists in the
names of various banks (unless named after some family). In Polish and Russian,
a pawn shop is called simply lombard. Lombard banking refers to the historical
use of the term 'Lombard' for a pawn shop in the Middle Ages, a type of banking
that originated with the prosperous northern Italian region of Lombardy In 1492
Ferdinand and Isabella of Spain signed a decree expelling all Jews who refused
to be converted to Christianity. A considerable number moved into Portugal.
Many members of the migrant Jewish community in Portugal proceeded to become
wealthy in commercially successful Portuguese port cities. Being forced on the
move, Jewish families remained mobile and quickly developed international
family agencies for growing brokerage houses involved with shipping. Such
family networks of mobile Jewish "lombards" migrated from port city to city
with the Spanish Inquisition and created international networks. In France the
Lombards became synonymous with the Cahorsins. Most European cities still have
a street named Lombard street after the pawn shop that once housed there. In
Dutch, the name for a pawn shop is still lommerd, and the same etymology
persists in the names of various banks (unless named after some family). In
Polish and Russian, a pawn shop is called simply lombard. Cahors became
prominent in the Middle Ages as a major banking center of medieval Europe.
Cahorsin money lenders were among the most infamous for charging interest on
their loans. Antwerp was foreigner-controlled, which made the city very
international, with merchants and traders from Venice, Ragusa, Spain and
Portugal. Antwerp had a policy of toleration, which attracted a large Haredi
(and particularly Hasidic) orthodox Jewish community.
In 1509
King Henry VIII succeeds King Henry VII to the throne in England. Under King
Henry VIII the Church of England seperates from Roman Catholicism, whose
law prevented the charging of interest on
money. King Henry VIII relaxed the
laws regarding usury and the
soulless money changers waste no
time in re-asserting themselves by flooding the economy with
gold and silver coins.
"No
people under the sun are more greedy than
they are, than they have been and always will be, as one can see from their
accursed usury. The Princes and authorities sit and snore with open mouths and
let the Jews take, steal and rob what
they want out of their open purses and chests. That is, they permit themselves
and their subjects to be skinned and sucked dry by the
Jews' usury, and make themselves, with
their own money, beggars in their
own State. The Jews have got our
money and property, and are
therefore our masters in our own land." - Martin Luther 1543
In 1553 Queen Mary
I succeeds Lady Jane Grey's nine day reign to the throne in England. During her
reign, Queen Mary I, a staunch Catholic, tightens the usury
laws. The
soulless money changers, not amused,
hoard gold and silver coins thus
creating economic contraction.
In 1558 Queen Elizabeth I succeeds Queen
Mary I, her half sister, to the throne in England. During her reign Queen
Elizabeth I takes control of the
money supply by issuing
gold and silver coin.
In 1609 The soulless money changers in the
Netherlands establish the first
central bank in
history, in Amsterdam.
The central Bank of Amsterdam finances Oliver
Cromwell.
Oliver Cromwell overthrows King Charles I putting him to
death in 1649. Plunged into a costly series of wars over the next few decades
Great Britain sinks deeper into debt. The
soulless money changers foreclose on
a square mile of property in the center of London which becomes
known as the City of London, an
international economic center.
Following a series of squabbles with the
Stuart Kings, Charles II (1660 - 1685) and James II (1685 - 1688) the
soulless money changers conspire
with their far more successful counterparts in Amsterdam who finance an
invasion led by William of Orange of
the Netherlands. The invasion is
successful and William of Orange ascends to the throne in England as King
William III in 1689.
King William III orders
the British Treasury to borrow £ 1,250,000. In return King William III
issues the syndicate of the soulless
money changers a Royal Charter for the new central Bank of England. This
Royal Charter permits the syndicate of
the soulless money changers to consolidate the British National
debt just
created by the £ 1,250,000 loan by
securing payments of interest and principal through direct taxation of the
people. The Royal Charter forbids private goldsmiths from storing
gold and
issuing paper promissary notes made payable
to the bearer. The Bank of England was so named for the sole purpose of
deceiving the general public into
believing it was part of the government
and not a chartered corporation.
Like any other privately chartered
joint stock corporation the Bank of
England sold shares to get started. The private investors, whose names were
never revealed, were supposed to put up £ 1,250,000 in
gold coins to buy their shares in
the central bank, but
only £ 750,000 was ever received. Despite the £ 500,000 shortfall
the central bank was
duly chartered and began loaning out several times the
money it supposedly had in reserves,
all at interest.
"The Bank hath benefit of interest on all
monies which it
creates out of nothing." - William
Paterson founder Bank of England
The Bank of England amounted to nothing
less than the legal counterfeiting of a national currency for private gain. Any
country falling under a private
central bank
controlled system of government
eventually amounts to nothing more than a plutocracy. Soon after the Bank of
England was formed it attacked the talley stick system, as it was currency
outside of the power of the
soulless money changers, just as
King Henry I had intended it to be.
By 1698 the
debt to the
soulless central bankers had grown
to £16,000,000. By 1815, principally due to the compounding of interest,
the British Treasury owed £ 885,000,000 to the Bank of
England.
The soulless central
bankers had gained control of the
economy of England in the following way:
Suppose the money in
circulation in a country is £5,000,000. A
central bank is set up
and prints another £15,000,000. This reduces the value of the initial
£5,000,000 in circulation before the
central bank was
formed. This is because the initial £5,000,000 is now only 25% of the
currency in circulation. It will also give the bank
control of 75% of the currency in
circulation with the £15,000,000 they lent out into the
economy. This causes inflation, a reduction
in value of
money born by the common person, due
to the economy being flooded with
money. As the common person's
money is worth less so he has to go
to the bank to get a loan to help run his business and when the
soulless money changers are
satisfied there are enough people with debt out there,
the bank will tighten the supply of money
by not offering loans or loan renewals. When the
debtors are
unable to repay their loans the
debtors real
wealth, businesses and property used as
collateral for the loan, is turned over to the
soulless money changers.
"Non-inflationary economic growth - an increase in the production of
goods and services - is structurally necessary for the current
money system to
exist. That is what drives the
relentless conversion of life into
money." - Charles
Eisenstein
In 1760 Mayer Amschel Bauer*changes him name to Mayer
Amschel Rothschild*, sets up
the House of Rothschild and soon learns that loaning
money to governments and royalty is
far more profitable than loaning to individuals because the loans made are
bigger and backed by their nations' taxes. Mayer Amschel Rothschild trains his
five sons - Amschel, Salomon, Nathan, Karl and Jakob - in the art of
money
creation. Amschel stayed in Frankfurt.
Salomon was sent to Vienna. Nathan was
sent to London. Karl went to Naples, and Jakob went to Paris.
{"Our long history has depended time and again on being ahead of the
game. Faster communications, better market information, new approaches and new
solutions: these are what have given us flexibility, advantage and edge across
changing times and circumstances. With two hundred years of successful
client-service to our name, Rothschild takes the long view. The structure of
the Rothschild group of companies today echoes the approach first adopted by
the five Rothschild brothers." - Rothchilds website 2008
A few
Rothschild corporations named on Rothchilds website 2008: NM Rothschild &
Sons UK; NM Rothschild & Sons Channel Islands; Rothschild France;
Rothschild Belgique; Rothschild Frankfurt; Rothschild Bank Zurich; Rothschild
Trust; Rothschild Private Management; Five Arrows Commercial Finance;
Rothschild Moscow; Rothschild Sweden; Rothschild North America; Rothschild
Brazil; Bice Chileconsult; Rothschild Mexico; Rothschild Australia; Rothschild
Asia; Rothschild South Africa
"Though they control scores of industrial,
commercial, mining and tourist corporations, not one bears the name Rothschild.
Being private partnerships, the family houses never need to, and never do,
publish a single public balance sheet, or any other report of their financial
condition." - Frederic Morton}
This marks the foundational
establishment of the syndicate of the
soulless' international central banking cartel.
"The
history of the House of Rothschild is
of greater importance for world history than the domestic
history of the State of Saxony; and is
it a matter of indifference that it is the history of an
Ashkenazi?" - Christian
Matthias & Theodor Mommsen
"The major reason for the historical
blackout on the role of the
international bankers in political
history is that the Rothschild were
Ashkenazi, but a special kind
of Ashkenazi -
apostates. Nobody has a right to
be more angry at the Rothschild than the true
Semitic Jews. The Warburgs,
part of the Rothschild empire, helped finance
Adolph Hitler." - Gary
Allen
In 1764
Benjamin Franklin is asked by officials of
the Bank of England to explain the prosperity of American colonies.
"That is simple. In the Colonies we issue our own
money. It is called Colonial Scrip.
We issue it in proper proportion to the demands of trade and industry to make
the products pass easily from the producers to the consumers. In this manner
creating for ourselves our own paper
money, we
control its purchasing
power, and we have no interest to pay." -
Benjamin Franklin
As a result
of Benjamin Franklin's statement, the
British Parliament hurriedly passed the Currency Act of 1764. The Currency Act
of 1764 prohibits colonial officials from issuing their own
money and orders them to pay all
future taxes in gold or silver
coins. Due to the prohibition on the issuance of paper money by the colonies
under the Currency Act of 1764 - real estate
owners who could not pay their debts lost their land. John Morton, a
sheriff of Chester County in Pennsylvania who would sign the
Declaration of
Independence, seized 180 farms between
1766 and 1769.
"In one year, the conditions were so reversed that the
era of prosperity ended, and a depression set in, to such an extent that the
streets of the colonies were filled with the unemployed... The colonies would
gladly have borne the little tax on tea and other matters had it not been that
England took away from the colonies their
money which
created unemployment and dissatisfaction.
The viability of the colonists to get power
to issue their own money permanently
out of the hands of King
George III and the international
bankers was the prime reason for the revolutionary war. " -
Benjamin Franklin
"One of the
primary motivations for the Revolution was the
control of currency by a
foreign imperial power, with the ability to
control inflation and devaluation,
essentially
controlling the entire economic
conditions of the colony from abroad. The
Founding Fathers of the United States understood the necessity of controlling
one's own currency if one was to preserve sovereignty and independence." -
Andrew Gavin Marshall
Control of
America's monetary system has changed hands 8 times since 1764.On
April 19th, 1775 the revolutionary
war starts in Lexington, Massachusetts.
10 years of British taxation had drained the colonies of silver and
gold coins. As a result of this,
the continental government has no choice but to print
money to finance the
war. At the start of the
revolution the
American
money supply stood at $12,000,000.
By the end of the war it was nearly
$500,000,000 and as a result the currency was virtually worthless. This is an
example of the danger of printing too much
money. Colonial Scrip had worked
well because just enough was used to facilitate trade.
The Constitution put control of America's
currency in the hands of Congress, and made no provisions for Congress to
delegate that authority. The Constitution even established the basic
currency unit, the dollar. The dollar was Constitutionally mandated to be a silver coin
based on the Spanish pillar dollar and to contain 375 grains of silver. This
single provision was designed to keep the American
money supply out of the hands of the
soulless international banking
cartel.
By 1781 the Continental Congress was desperate for monetary
balance, so they allowed Robert Morris, their Financial Superintendent, to open
a privately owned central
bank, in the hope this would sort out the
money problem. Robert Morris, son of
the wealthy
drug pushing
tobacco exporter Robert Morris Sr., had
grown wealthier during the
revolution by trading in
war materials. This first
central bank in
America was called the Bank of North
America, which was set up with a four year charter, and was closely modeled
after the Bank of England. The Bank of North America was allowed to practice
the fraudulent system of fractional reserve banking, so it could
create
money it didn't have, then charge
interest on it. The Bank of North America's charter called for private
investors to put up $400,000 of initial hard capital, which Robert Morris Jr.,
the war profiteer, found
himself unable to raise from American interests as all the
gold and silver had been sent to
England as taxes.
Robert Morris used his
political influence to have
gold, loaned to the new
American government by France,
deposited into the new Bank of North
America to use as reserves - gold
belonging to the American people. This
Bank of North America, again deceptively named so the common people would
believe it was under the
control of the government, was given a
monopoly over the national currency.
"The primary definition of a
central bank is a
banking system in which a single bank has either a complete or residuary
monopoly in the note issue. A
central bank is not a
natural product of banking
development. It is imposed from outside or comes into being as the result of
government favors." - Vera C. Smith , Committee for Monetary Research and
Education
By 1785 despite the
promises of Robert Morris that his
privately owned Bank of North America would solve the problem with the
monopolized
money supply the
economy continued to plummet forcing the
Continental Congress not to renew the bank's charter.
"This
institution, having no principle
but that of avarice, will never be varied in its objective...to engross all the
wealth, power and influence of the
state." - William Findlay
Mayer
Amschel Rothschild moves his family home
to a five story home in Frankfurt, Germany, which he shares with the
Schiff family, (a descendant of both Rothschild and Schiff, Jacob Hirsch Schiff
128 years later was instrumental in the setting up of the
Federal Reserve).
In
1787 colonial leaders assemble in Philadelphia to replace the Articles of
Confederation with the Constitution.
Governor Morris headed the final draft of the Constitution and he knew the motivation of the
soulless international bankers well
as he had once worked for them. Governor Morris along with his former boss
Robert Morris, and Alexander Hamilton had presented the original plan for the
Bank of North America to the Continental Congress, in the final year of the
revolution.
Governor
Morris by this time had discovered his conscience,
defected from Robert Morris, and in a letter to James Madison dated July 2nd of
this year he stated, "The rich will
strive to establish their dominion and enslave the rest. They always did.
They always will. They will have the same effect here as elsewhere, if we do
not, by the power of
government, keep them in their proper
spheres."
James Madison was opposed to a privately owned
central bank after
seeing the exploitation of the people by the Bank of England.
The
words of wisdom of Governor Morris and
Thomas Jefferson fell on deaf
ears. Alexander Hamilton, Robert Morris and Thomas Wyling, con-vinced the bulk
of the delegates to this Constitutional convention, not to give Congress the
power to issue paper
money. They were
aware that most of these delegates were
still reeling from the wild inflation of the paper
money during the
revolution. These delegates had
short memories and didn't remember how
well Colonial Scrip had worked before the war, or Benjamin Franklin's
words of wisdom. As a result the
Constitution was silent on the issue of
paper money by the government for
the citizens, leaving the door wide open for
soulless money changers in the
future.
In 1790 newly
appointed First Secretary of the Treasury, Alexander Hamilton, proposed a bill
to the Congress calling for a new privately owned
central bank.
Interestingly, Alexander Hamilton's first job after graduating from
law school in 1782 was as an aide to Robert
Morris, a man who he had written to in 1781 stating, "a national
debt if it is not excessive will be to us
a national blessing."
"It was Alexander Hamilton, the first secretary
of the treasury, who compromised the new nation, through what he admitted was
"corruption," by giving the wealthy speculators in Revolutionary War bonds the
benefit of federally-sponsored redemption and then by establishing the First
Bank of the United States. This early drift toward elitist rule was opposed by
Thomas Jefferson, James Madison,
and others." - Richard C. Cook
The three main players behind the Bank Of
North America were: Robert Morris; Alexander Hamilton; and the Bank's
President, Thomas Willing. These men did not give up and Alexander Hamilton,
now Secretary of the Treasury, a man who described Robert Morris as his,
"mentor," managed to get a new privately owned
central bank through
the new Congress. This new bank was called the, "First Bank of the United
States," and was exactly the same as the Bank of North America. Baron James de
Rothschild of Paris was the principal investor. Robert Morris
controlled it, Thomas Willing was the
Bank's President, only the name had changed. The First Bank of the United
States came into being after a year of intense debate and was given a 20 year
charter. The First Bank of the United States was given a
monopoly on printing United States
currency even though 80% of it's stock was held by private investors. The other
20% was purchased by the United States government (fractional reserve), but
this was not to give it any controlling
rights, but to provide the capital for the private investors to purchase the
other 80%. As with the Bank of England and the old Bank of North America, these
private investors never paid the full agreed upon amount for their shares.
"The bill for establishing a national bank, in 1791,
undertakes, among other things, -
1. To form the subscribers
into a corporation.
2. To enable
them, in their corporate
capacities, to receive grants of lands; and, so far, is against the
laws of mortmain.
3. To make
alien subscribers capable of holding
lands; and so far is against the laws of
alienage.
4. To transmit these lands, on the death of a proprietor, to a
certain line of successors changes the course of descents.
5. To put the
lands out of the reach of forfeiture, or escheat; and so far, is against the
laws of forfeiture and escheat.
6. To
transmit personal chattels to
successors, in a certain line; and so far, is against the
laws of distribution.
7. To give them the
sole and exclusive right of banking, under the national authority, is against
the laws of
monopoly.
8. To communicate to them
a power to make
laws, paramount to the
laws of the states; for so they must be
construed, to protect the institution from
the control of the state legislatures; and so probably they will be
construed.
I consider the foundation of the
Constitution as laid on this ground - that
all powers not delegated to the United
States, by the Constitution, nor prohibited
by it to the states, are reserved to the states, or to the people. To take a
single step beyond the boundaries thus specially drawn around the
powers of Congress, is to take possession
of a boundless field of power, no longer
susceptible of any definition.
The incorporation
of a bank, and the powers assumed by this
bill, have not, in my opinion, been
delegated to the United States by the Constitution." -
Thomas Jefferson, February 15,
1791
Through the fraudulent system of fractional reserve banking,
the government's 20% stake which was $2,000,000 in cash, was used to make loans
to private investors to purchase the other 80% stake, $8,000,000, for this risk
free investment. Again like the Bank of England and the old Bank of North
America, the name, "First Bank of the United States," was deliberately chosen
to hide from the common people the fact that it was privately owned and
operated corporation. The names of
the investors in this bank were never revealed, although it is now widely
believed that the Rothschilds were behind
it.
Interestingly in 1790 when Alexander Hamilton
proposed this bank in Congress, Mayer Amschel Rothschild made the following
statement from his bank in Frankfurt, Germany, "Let me issue and
control a nation's
money and I care not who writes the
laws."
By 1796 the First Bank of the
United States has been controlling the
American money supply for 5 years.
During this time the American government has borrowed $8,200,000 from this
central bank, and
prices in America have increased by 72%. In relation to this,
Thomas Jefferson, then Secretary
of State stated, "I wish it were possible to obtain a single amendment to our
Constitution taking from the Federal
government their power of borrowing."
In 1798 Mayer Amschel Rothschild sends his son,
Nathan, at the age of 21, to England with
a sum of money equivalent to
£20,000, to set up the soulless
money changers international cartel there.
"In 1788, the French Monarchy was bankrupt, and as tensions
grew between the increasingly desperate people of France and the aristocratic
and particularly monarchic establishment, European bankers decided to pre-empt
and co-opt the revolution.
In 1788, prominent French bankers refused to
extend necessary short-term credit to the government, and they arranged to have
shipments of grain and food to Paris delayed which triggered the hunger riots
of the Parisians. This sparked the Revolution, in which a new ruling class
emerged, driven by violent oppression and political and actual terrorism.
However, its violence grew, and with that, so too did discontentment with the
Revolutionary Regime, and its stability and sustainability was in question.
The bankers threw their weight behind a general in the Revolutionary
Army named Napoleon, whom they entrusted to restore order. Napoleon then gave
the bankers his support, and in 1800, created the Bank of France, the privately
owned central bank of France, and gave the bankers authority over the Bank. The
bankers owned its shares, and even Napoleon himself bought shares in the bank."
- Andrew Gavin Marshall
Eventually Napoleon
Bonaparte decides France has to break free of
debt. Napoleon
Bonaparte declares that when a government is dependent
on bankers for money, it is the bankers and not the government leaders that are
in control.
"The hand that gives
is among the hand that takes.
Money has no motherland, financiers
are without patriotism and without decency, their sole object is gain." -
Napoleon Bonaparte
In 1803 Napoleon Bonaparte strikes a deal with
Thomas Jefferson, the Louisiana
purchase, exchanging the Mississippi basin for $3,000,000 in
gold which Napoleon Bonaparte uses to put together an army to
conquer Europe.
The Bank of
England quickly rises to oppose Napoleon Bonaparte and
finances every nation in his path, again
profiteering from
war.
Prussia, Austria, and then finally
Russia all go heavily into
debt to the
soulless money changers in a futile
attempt to stop Napoleon Bonaparte.
In 1811 a
bill is put before Congress to renew the charter of the First Bank of the
United States. The legislatures of both Pennsylvania and Virginia pass
resolutions asking Congress to kill the bank. The national press openly attacks
the bank calling it: a great swindle; a vulture; a viper; and a coiled
cobra.
Nathan Mayer Rothschild
states, "Either the application for renewal of the charter is granted, or the
United States will find itself involved in a most disastrous
war."
The renewal bill clears the
House of Represenatives by a single vote and becomes deadlocked in the
Senate.
James Madison, a staunch opponent of the
central bank, sends
his Vice-President, George Clinton, to break the tie in the Senate which kills
the central bank.
In 1812 as promised by
Nathan Mayer Rothschild, as the charter
for the First Bank of the United States is not renewed, thousands have to die
and the British attack America. As the
British are still busy fighting Napoleon Bonaparte,
they are unable to mount much of an assault and the
war ends in 1814 with
America undefeated.{The
British have too many war fronts! This is
the begining of the end of the British Empire!}
"Under the
surface, the Rothschilds long had a powerful influence in dictating
American financial
laws. The law records show that they were
powers in the old Bank of the United
States." - Gustavus Myers
"The Jews form laws, and,
obeying their own laws, they
evade those of their host country. The
Jews always considered an oath regarding a Christian not binding. During
the Campaign of 1812 the Jews
were spies, they were paid by both sides, they betrayed both sides."- Helmuth
Karl Bernhard Graf von Moltke
In 1814 the Duke of Wellington's attacks
and eventually forces Napoleon Bonaparte to abdicate.
Louis XVIII is crowned King of France. Napoleon
Bonaparte is exiled to the tiny island of Elba, off the coast of
Italy.
In 1815 Napoleon Bonaparte escapes exile
and returns to Paris. French troops are sent to capture him, but
Napoleon Bonaparte uses his charisma to con-vince the
soldiers to rally round him. The soldiers subsequently hail him as their
Emperor once again. In March, Napoleon Bonaparte
assembles an army which the Duke of
Wellington defeats in less than 90 days later at Waterloo.
Nathan Mayer Rothschild sends a trusted
courier, Rothworth, to Waterloo where he stays on the edge of the battlefield.
Once the battle appears decided, Rothworth crosses the Channel, and delivers
the news of Wellington's victory to Nathan
Mayer Rothschild a full 24 hours before Wellington's own courier.
Nathan
Mayer Rothschild hurried to the London Stockmarket and stood in his usual
position. All eyes were on him as the Rothschilds had a legendary
communications network. Nathan Mayer
Rothschild stood there looking forlorn (what an actor!) and suddenly
started selling. The other traders believed that this meant he had heard that
Napoleon Bonaparte had won so they all started selling
frantically. The market subsequently
plummets as everyone is selling their Consuls (British Government Bonds).
Nathan Mayer Rothschild
secretly started buying them
all up through his agents on the floor, for a fraction of what they were worth
only hours before. A lot of these consuls are converted to Bank of England
stock. This is how Nathan Mayer Rothschild
takes control of the Bank of England and
the British money supply.
Nathan Mayer Rothschild married Hannah
Barent-Cohen and was related by marriage
to Karl Marx.
100 years later, the
New York Times ran a story stating that Nathan Mayer Rothschild's grandson had
attempted to secure a court order to suppress a book with this "insider
trading" story in it. The Rothschild family claimed the story was untrue and
libelous, but the court denied the Rothschilds request and ordered the family
to pay all court costs. Nathan Mayer
Rothschild openly bragged that in his 17 years in England he had increased
his initial £20,000 stake given to him by his father, 2500 times to
£50,000,000.
Some people ask, why do the
soulless money changers want
war? Simple, the
soulless money changers finance both
sides in a war. The
soulless money changers do this
because war is the biggest
debt generator of them all. A nation will
borrow any amount for victory, even though the the
soulless money changers have already
pre-determined the outcome, because they fail to believe that the
soulless money changers have the
capability to pre-determine the outcome. The ultimate loser is loaned just
enough money to hold out a vain hope
of victory and the ultimate winner is given enough to ensure that he does win.
{Note this clause in the Constitution:
All debts contracted and engagements
entered into, before the adoption of this Constitution, shall be as valid
against the United States under this Constitution. This assured repayment
of loans if America lost the revolutionary war or in the event of a change of
government. Note this clause in the Section 4 of the 14th Amendment to the
Constitution: The validity of the public debt of the United States, authorized
by law, ... shall not be questioned.}
How
does the international central banking
cartel ensure they get all their money back? Loans are given on the
guarantee that the victor will honor the debts of the
vanquished. Never mind the
thousands of troops that give their lives on the pretext the
fight is for the
honor of their respective
nations. During the period between the founding of the Bank of England in
1694 and Napoleon Bonaparte's defeat at Waterloo,
England had been at war for 56 years,
with much of the remaining time spent preparing for
war. (Eerily parallel to
America after
World War I - only in America
it has been nearly one hundred years!)
"If you will look back at every
war in Europe during the Nineteenth
Century, you will see that they always ended with the establishment of a
'balance of power.' With every re-shuffling
there was a balance of power in a new
grouping around the House of Rothschild in England, France, or Austria. They
grouped nations so that if any king got out of line a
war would break out and the
war would be decided by which way the
financing went." - Stuart Crane
"Economics Professor Stuart Crane notes
that there are two means used to collateralize loans to governments and kings.
Whenever a business firm borrows big money its creditor obtains a voice in
management to protect the investment. Like a business, no government can borrow
big money unless willing to
surrender to the creditor some measure of sovereignty as collateral.
Certainly international bankers who have loaned
hundreds of billions of dollars to governments around the world command
considerable influence in the policies of such governments." - Gary
Allen
In 1814 the heavy government borrowing to finance the War of
1812 lead to a shortage of capital reserves in existing banks which lead to the
establishment of new banks, thus greatly expanding the money in
circulation.
This unregulated expansion leads Congress in 1816 to pass a
bill permitting yet another privately owned
central bank to
regulate the money supply. This bank is called the, "Second Bank of the United
States," and it's charter is a carbon copy of its predecessor, the First Bank
of the United States. The United States government would once again supposedly
own 20% of the shares of the bank. Their share was again paid up front into the
new central bank and
thanks to fraudulent fractional reserve lending, this is transformed into loans
to the private investors who once again purchased the remaining 80% of the
shares. Just as before the names of these investors are kept a
secret.
The Second
Bank of the United States calls a halt to its expansion of the monetary supply
and launches the painful process of contraction which in turn creates the Panic
of 1819. The Panic of 1819 , the first major financial crisis in the United
States after the depression of the late 1780s, resulted in widespread
foreclosures, bank failures, unemployment, and a slump in agriculture and
manufacturing.
The Panic of 1819 marked the end of the economic
expansion that had followed the War of 1812.
In 1826 the talley stick is
taken out of circulation in England.
In 1828 after 12 years during
which the Second Bank of the United States, ruthlessly
manipulated the
American economy to the detriment of the people but to
the benefit of the soulless money
changers, the American people had,
unsurprisingly, had enough. Opponents of this
central bank nominated
Senator Andrew Jackson of Tennessee to run for President. To the dismay of the
soulless money changers, Andrew
Jackson won the Presidency and made it quite clear he intended to kill the
Second Bank of the United States at his first opportunity. Andrew Jackson
started out during his first term in office, to root out the banks many minions
from government service (much as Adolf
Hitler did when he came into power in Germany). To illustrate how deep this
cancer was rooted in government, Andrew Jackson fired 2,000 of the 11,000
employees of the Federal government. (Later Ulysses S. Grant fired the soulless
money changers from the Treasury Department.)
"The wicked arrogantly hunt down the poor.
Let
them be caught in the evil they plan for others." - Psalm 10:2In
1832 the Second Bank of the United States, asks Congress to pass a renewal of
the bank's charter, four years early. Congress complies and sends the bill to
Andrew Jackson for signing.
Andrew Jackson vetoes the bill and in his
veto message he stated the following, "It is not our own citizens only who are
to receive the bounty of our government. More than eight millions of the stock
of the bank are held by foreigners. Is there no danger to our
liberty and independence in a
bank that in its nature has so little to
bind it to our country?
Controlling our currency, receiving our
public monies, and holding thousands of our citizens in dependence ... would be
more formidable and dangerous than a military
power of the
enemy. If government would confine
itself to equal protection, and, as Heaven
does its rains, shower the favor alike on
the high and the low, the rich and the poor, it would be an unqualified
blessing. In the act before me there seems to be wide and unnecessary departure
from these just principles."
In
July, Congress is unable to override Andrew Jackson's veto. Andrew Jackson then
stood for re-election and for the first time in
American history he took his argument
directly to the people by taking his re-election campaign on the road. His
campaign slogan was, "Jackson And No Bank!"
The
soulless money changers pour over
$3,000,000 into Andrew Jackson opponent's campaign Senator Henry Clays'
campaign. Andrew Jackson is re-elected by a landslide.
Andrew Jackson
knew the battle was only
beginning however, and following his
victory he stated, "The hydra of corruption is only scotched, not dead!"
In 1833 Andrew Jackson appoints Roger B. Taney as Secretary of State
for the Treasury, with instructions to start removing the government's
deposits from the Second Bank of the
United States. Andrew Jackson's previous two Secretaries of State for the
Treasury, William J. Duane and Louis McLane had both refused to comply with
Andrew Jackson's request and were fired as a result. However the head of the
Second Bank of the United States, Nicholas Biddle, uses his influence to get
the Senate to reject Roger B. Taney's nomination and even threatens to cause a
depression if the Bank was not re-chartered.
"This worthy President
thinks that because he has scalped Indians and imprisoned judges, he is to have
his way with the Bank. He is mistaken."- Nicholas Biddle
Nicholas
Biddle then went on to brazenly admit that the
central bank was
intending to make money scarce in
order to force the hand of Congress into re-chartering the bank.
"Nothing but widespread suffering will produce any effect on Congress.
Our only safety is pursuing a steady course of firm restriction - and I have no
doubt that such a course will ultimately lead to restoration of the currency
and re-charter of the Bank." - Nicholas Biddle
Nicholas Biddle proves
to the world what
central banks and the
soulless money changers are really
about.
Nicholas Biddle makes good on his
word, and the Second Bank of the United
States, sharply contracts the money
supply by calling in old loans and refusing to issue new ones.
Naturally a financial panic ensued,
followed by America being plunged into a
depression.
Nicholas Biddle then unashamedly blames Andrew Jackson for
the crash, claiming that it was Andrew Jackson's withdrawal of federal funds
that had caused it. This crash plunged wages and prices, unemployment soars
along with business bankruptcies. The
United States is in uproar. Newspaper editors blast Andrew
Jackson in editorials.
"In the fall of 1833 the removal of the deposits
was made, and the Panic of 1834 followed. The bank, by October, 1834, had
contracted it circulation nearly 20 per cent. When its attempt to coerce a
restoration of the deposits and a renewal of the charter failed it commenced an
expansion. The great expansion produced the disastrous excesses of 1835 and
1836. The bank is justly responsible for the for the whole amount of the
expansion from the lowest point of contraction in 1834." - Samuel Jones
Tilden
In 1835 Congress assembles what was called the, "Panic Session,"
and on March 27 Andrew Jackson was officially censured by Congress for
withdrawing funds from the Second Bank of the United States, in a vote which
passed the Senate by 26 to 20.
It was the first time a President had
ever been censured by Congress and Andrew Jackson stated of the the
soulless money changers, "You are a
den of thieves and vipers, and I
intend to rout you out, and by the
eternal
God, I will rout you out."
Pennsylvania Governor, George Wolf, came out in support of Andrew
Jackson and strongly criticized the the Second Bank of the United States. This,
coupled with the fact that Nicholas Biddle had been caught boasting in public
about the bank's plan to crash the American economy, caused a shift in
opinion of Andrew Jackson's action. In a
complete about turn on April 4, the House of Representatives voted 134 to 82
against re-chartering the Second Bank of the United States. This was followed
by another strong vote which established a special committee to investigate
whether the Second Bank of the United States had caused the crash. However,
when the investigating committee arrived at the bank's door in Philadelphia
with a subpoena authorizing them to inspect the books, Nicholas Biddle refused
to give them up, or allow inspection of correspondence with Congressmen
relating to their personal loans and advancements he had made to them. Nicholas
Biddle also refused to testify before the committee back in Washington.
In 1836 the Charter for the Second Bank of the United States expires,
and the bank ceases functioning as America's
central bank. Nicholas
Biddle was later arrested and charged with fraud. Nicholas Biddle was tried and
acquitted but died in 1844 still battling civil suits.
In 1837 the Bank of England increases the interest
rate paid to depositors effectively
curtailing investment in America in
response to Andrew Jackson refusing to renew the
central bank charter.
Lack of liquidity in the credit market
due to the withdrawal of funds creates
the Panic of 1837(Fractional reserves
are depleted thus depositors can not withdraw their deposited funds). Out of
850 banks in the United States, 343 closed entirely, 62 failed partially, and
the system of state banks received a shock from which
it never fully recovered. Contraction of the currency immediately followed.
"The Panic of 1837 was
aggravated by the Bank of England when it in one day threw out all the
paper connected with the United
States." - Henry Clews
On January 8th, 1838 Andrew Jackson pays off the
final installment of the national debt,
which had been necessitated by allowing the
central bank to issue
currency for government bonds, rather than simply issuing treasury notes
without such debt. Andrew Jackson becomes
the only President to ever pay off the national
debt. On January 30th the assassin
Richard Lawrence attempts to shoot Andrew Jackson, but both pistols
misfire. Richard Lawrence openly bragged that
powerful people in Europe hired him
and promised to protect him. Richard
Lawrence is found not guilty by reason of insanity.
When asked what his
most important accomplishment had been in life, Andrew Jackson stated without
hesitation, "I killed the Bank!"
It took the
soulless central bankers 75 years to
establish the next central
bank, the Federal
Reserve. This time they took no chances using
Jacob Hirsch Schiff from the
Rothschild bloodline.
By 1842 only $64,000,000 of currency, a little
over three dollars per capita, was in circulation. A
tide of bankruptcy without precedent
swept the country. From 1837 to 1850 the scarcity of
money depressed prosperity and the
wheat, cotton, pork and beef of the American farmer was purchased at depressed prices.
There was no expansion of the currency after 1837 until the discovery
of the gold mines of California in
1849 and the silver mines in Nevada in 1859. In 1850, the state banks again
began to expand, and once more America had fair prices for produce and
prosperous times. The expansion continued until 1857. There was no inflation,
the currency was not in excess of the legitimate needs of business and prices
were not too high.
In 1850 Jacob (James) Rothschild in France is said to
be worth 600 million francs, which at the time was 150 million francs more than
all the other bankers in France put together.
In 1852 Future British
Prime Minister, William Gladstone, stated the following about when he became
Chancellor of the Exchequer this year, "From the time I took office as
Chancellor of the Exchequer, I began to learn that the State held, in the face
of the Bank and the City, an essentially
false position as to finance. The government
itself was not to be a substantive power,
but was to leave the Money Power supreme
and unquestioned."
During the ten years, 1854 to 1864, the
Rothschilds furnished in loans, $200,000,000 to England, $50,000,000 to
Austria, $40,000,000 to Prussia, $130,000,000 to France, $50,000,000 to Russia,
$12,000,000 to Brazil, in all $482,000,000.
The
Panic of 1857 was set in motion by the
failure on August 24 of the New York City branch of the Ohio Life Insurance
and Trust Company when the Bank of England called all loans to British
investors in American banks. Grain
prices fell with the end of the Crimean War and
Russian re-entry into
global markets and land speculation based on
forecasts of new railroads collapsed. More than 5,000
American businesses failed within a
year.
"Ashkenazi are
the great moneylenders and loan
contractors of the world. The consequence is that the nations of the world
are groaning under heavy systems of taxation and national
debt. They have ever been the greatest
enemies of
freedom." - Lord Harrington, July 12,
1858
In 1861 one month after the inauguration of
Abraham Lincoln, the American
Civil War got underway at Fort Sumter, South Carolina, after South Carolina
left the Union. Slavery has always been
cited as the cause of the war but this
was simply not the case.
"I have no purpose directly or indirectly to
interfere with the institution of
slavery in the state where it now
exists. I
believe I have no lawful right to do so,
and I have no inclination to do so. My paramount objective is to save the Union
and it is not either to save or destroy
slavery. If I could save the Union
without freeing any slave, I would do
it." - Abraham Lincoln
The
truth is the real reason for the
war is that the Southern States were in
an a dire economic situation due to the
actions of the Northern States. Northern industrialists had used trade tariffs
to prevent the Southern States from buying cheaper European goods. Europe
subsequently retaliated by stopping cotton imports from the South. The South
was being forced to pay more for goods while having their income slashed. This
is when the soulless central bankers
saw the opportunity to divide and
conquer America by plunging it into
Civil War.
"The division of the United States into federations of equal
force was decided long before the Civil War by the
high financial powers of Europe,
these bankers were afraid that the United States if they remained as one block
and as one nation, would attain economic and financial independence which would
upset their financial domination over
the world. They foresaw tremendous booty if they could substitute two
feeble democracies, indebted to the Jewish financiers, to the vigorous
Republic, confident and self-providing. Lincoln decided to eliminate the
International bankers, by establishing a system of Loans, allowing the States
to borrow directly from the people without intermediary. He did not study
financial questions, but his robust good sense revealed to him, that the source
of any wealth resides in the work and economy of the nation. He opposed
emissions through the International financiers. He obtained from Congress the
right to borrow from the people by selling to it the 'bonds' of States. The
local banks were only too glad to help such a system. And the Government and
the nation escaped the plots of the foreign financiers. They understood at
once, that the United Stats would escape their grip. The death of Lincoln was
resolved upon. Nothing is easier than to find a fanatic to strike. I fear that
Jewish Banks with their craftiness and tortuous tricks will entirely control
the exuberant riches of America, and use it to systematically corrupt modern
civilization. The Jew will not hesitate to plunge the whole of Christendom into
wars and chaos, in order that the earth should become the inheritance of
Israel." - Otto Von Bismark stated as Chancellor of
Germany (1871 - 1890)
Only
months after the first shots are fired in South Carolina the
soulless central bankers loan
Napoleon III of France (Napoleon Bonaparte's nephew),
210 million francs to seize Mexico and station troops along the Southern border
of the United States, by taking advantage of the American Civil War to return
Mexico to colonial rule.
This was in violation of the, "Monroe Doctrine," which was issued by
President James Monroe during his
seventh annual State of the Union address to Congress, in 1823.
In
return, the United States planned to stay neutral in
wars between European
powers and in
wars between a European
power and its colonies. However, if these
latter type of wars were to occur in the
Americas, the United States would view such action as hostile toward itself.
While the French were breaching the,
Monroe Doctrine in Mexico, the
British followed suit by moving 11,000 troops into Canada and positioning them
along the Canadian border.
"To pay the soldiers the Government issued
its Treasury notes, authorized by act of Congress, July 17, 1861, for
$50,000,000, bearing no interest. These notes circulated at par with gold. The
Rothschilds' agents inspired the American banks to offer to Lincoln a loan of
up to $150 million. But before they had taken much of the loan, the banks broke
down and suspended specie payments in December 1861. They wished to blackmail
Lincoln and demanded the 'shaving' of government paper to the extent of 33%, an
extortion which was refused. A bill drafted for the Government issue of $150
million, which should be full legal tender for every debt in the United States,
passed the House of Representatives Feb. 25, 1862, and was hailed with delight
by the entire country. But the Wall Street bankers were furious." - Arthur
Cherep-Spiridovich
Abraham
Lincoln went with his Secretary to the Treasury, Salomon P. Chase, to New
York to apply for the loans necessary to fund
America's defense. In August, 1861,
Moses Taylor, Chairman of the Loan Committee to finance the Union Government in
the Civil War, offered the government another $5,000,000 at 12% to continue
financing the war.
When the
shaving of government treasury bonds at 33% was suggested Colonel Dick Taylor
of Chicago suggested to Abraham
Lincoln to get Congress to pass a bill authorizing the printing of full
legal tender treasury notes.
When
Abraham Lincoln asked Colonel
Taylor if the people of the United States would accept the notes, Colonel
Taylor replied, "The people or anyone else will not have any choice in the
matter, if you make them full legal tender. They will have the full sanction of
the government and be just as good as any
money, as
Congress is given that express right by
the Constitution."
In 1862
Abraham Lincoln, the last
president to issue debt free United
States notes, began the printing of $450,000,000 worth of new bills. These
bills were printed in green ink on the reverse side, in order to distinguish
them from other bills in circulation, and were called, "Greenbacks."
"The government should
create, issue and circulate all the
currency and credit needed to satisfy the spending
power of the Government and the buying
power of the people. The privilege of
creating and issuing
money is not only the supreme
prerogative of government, but it is in the government's greatest creative
opportunity. By the adoption of these principles the taxpayers will be saved
immense sums of interest. Money will
cease to be master and become the servant of humanity." - Abraham Lincoln
"If that mischievous financial policy, which had its origin in the North
American Republic, should become indurated down to a fixture, then that
government will furnish its own money without cost. It will pay off
debts and be without a
debt. It will have all the
money necessary to carry on its
commerce. It will become prosperous
beyond precedent in the history of civilized governments of the
world. The brains and the
wealth of all countries will go to North
America. That government must be destroyed or it will
destroy every monarchy on the globe."
- The Times of London
"Slavery is likely to be abolished by the
war power and chattel slavery destroyed. This I and my European friends are
glad of, for slavery is but the owning of labor and carries with it the care of
the laborer, while the European plan led by England is for capital to control
labor by controlling wages. This can be done by controlling the money. The
great debt must be used as a means to control the volume of money. To
accomplish this the BONDS must be used as a banking basis. We are now waiting
for the Secretary of the Treasury to make his recommendation to Congress. It
will not do to allow the Greenback, as it is
called, to circulate as money any length of time, as we cannot control that." -
Hazzard Circular sent in 1862 by the Bank of England
In 1863 Abraham
Lincoln, needing further congressional authority to issue more
Greenbacks, was forced to accept the "National
Banking Act." The most important part of the National Banking Act
was that from now on, the entire United States
money supply would be
created out of
debt by the national banks buying United
States Government Bonds and issuing them as reserves for banknotes. On top of
this monopoly, the national banks were
allowed to operate under a virtual tax free status. While the North was being
financed by the Rothschilds through their American agent, August Belmont, the South
was being financed through the Erlangers, Rothschild relatives.
"The
agents of the banks fell upon the bill in haste and disfigured it." - Thaddeus
Stevens, Chairman of the Committee on Ways and Means of the House of
Representatives
"In numerous years following the
war, the Federal Government ran a heavy
surplus. It could not however pay off its debt, retire its securities, because to do
so meant there would be no bonds to back the national bank notes. To pay off
the debt was to
destroy the
money supply." -
John Kenneth Galbraith
Czar Alexander II
stated Russia would consider active
British or French military action a declaration of
war and sent part of his Pacific Fleet to
San Francisco.
Czar Alexander
II, like Otto Von Bismarck in Germany, could clearly see what the
soulless central bankers were up to,
indeed he had already refused to let them set up a
central bank in
Russia.
Czar Alexander II understood that
once America was under the
control of the
soulless central bankers they would
eventually threaten Russia.
Abraham Lincoln is re-elected on
November 8th, 1864. On November 21 Abraham Lincoln wrote a friend the
following, "The money power preys
upon the nations in times of peace and conspires against it in times of
adversity. It is more despotic than monarchy, more insolent than autocracy,
more selfish than bureaucracy."
Salomon P Chase, now Abraham
Lincoln's former Secretary to the Treasury, stated, "My agency in promoting
the passage of the National Banking Act was the greatest financial
mistake in my life. It has built up a monopoly which affects every interest in
the country."
"While boasting of our noble deeds we're careful to
conceal the ugly fact that by an iniquitous
money system we have nationalized a
system of oppression which, though
more refined, is not less cruel than the old system of chattel
slavery." - Horace
Greeley
"Importers were obliged to go to Wall Street to buy gold to pay
duties on their goods, and the Wall Street gamblers held the power to fix the
price. Gold went to a premium. Had the greenbacks been permitted to retain
their full legal tender quality, there would have been no need for gold to pay
import duties. The price of gold rapidly rose and before the war closed had
reached the price of $2.85, measured in greenbacks. The gold bought in Wall
Street to pay import duties became the revenues of the government and was by it
paid back to Wall Street as interest on the public debt. As fast as the bankers
sold the gold it was returned for interest on the public debt to be sold again.
Thus during the entire war these gold gamblers speculated in gold, making
fortunes from the blood and tears of the American people.
This 'sacred
war debt' was only a gigantic of fraud, concocted by European capitalists and
enacted into American law by the aid of American congressmen, who were their
paid hirelings or their ignorant dupes. That this crime has remained uncovered
is due to the power of prejudice which seldom permits the victim to see clearly
or reason correctly: 'the Money power prolongs its reign by working on the
prejudices.' (Lincoln). Every means has been employed to deceive the masses.
Ridicule and derision have been applied to all opposition, while flattery and
appreciation were showered upon the officials" - Mrs M. E. Hobart
On April 14th, 1865 41 days after his second
inauguration, 5 days after General Lee surrendered to General Grant at
Appomattox, Abraham Lincoln was
assassinated by John Wilkes Booth, at Ford's Theater. Subsequent allegations
that international bankers were
responsible for Abraham Lincoln's
assassination surfaced in the Canadian House of Commons in 1934.
The
person who revealed this was a Canadian attorney, Gerald G. McGeer. Gerald G.
McGeer had obtained evidence deleted from the public record provided to him by
Secret Service Agents at the trial of John Wilkes Booth, after Booth's death.
Gerald G. McGeer stated that it showed that John Wilkes Booth was a
mercenary working for the
soulless central bankers.
"Abraham
Lincoln, the murdered emancipator of the
slaves, was assassinated through the
machinations of a group representative of the
International Bankers, who feared
the United States President's National Credit ambitions. There was only one
group in the world at that time who had any
reason to desire the death of
Abraham Lincoln. They were the men
opposed to his national currency program and who had fought him throughout the
whole Civil War on his policy of
Greenback currency." - Gerald G. McGeer,
Vancouver Sun, May 2, 1934
Abraham Lincoln's assassination
was not purely because the soulless
central bankers wanted to re-establish a
central bank in
America, but because they wanted to base
America's currency on
gold which they of course
controlled. This was in direct opposition
to Abraham Lincoln's
policy of issuing Greenbacks, based solely on the good faith and credit of
the people of United States of America.
"They were the men interested
in the establishment of the Gold Standard and the right of the bankers
to manage the currency and credit of every nation in the
world. With
Abraham Lincoln out of the way
they were able to proceed with that plan and did proceed with it in the United
States. Within 8 years after Abraham
Lincoln's assassination, silver was de-monetized and the Gold
Standard system set up in the United States." - Gerald G. McGee,
Vancouver Sun
{"It was during the Civil War that
the conspirators launched their first concrete efforts. We know that Judah
Benjamin, chief advisor of Jefferson Davis, was a Rothschild agent. We also
know that there were Rothschild agents planted in Abraham Lincoln's cabinet who
tried to sell him into a financial dealing with the House of Rothschild. But
old Abe saw through the scheme and bluntly rejected it thereby incurring the
undying enmity of the Rothschilds; exactly as the Russian Czar did when he
torpedoed their first League of Nations at the Congress in Vienna.
Investigation of the assassination of Lincoln revealed that the assassin Booth
was a member of a secret conspiratorial group. Because there were a number of
highly-important government-officials involved; the name of the group was never
revealed and it became a mystery; exactly as the assassination of John F.
Kennedy is still a mystery." - Myron Fagan}
The
soulless central bankers wanted the
reinstitution of a central
bank under their control and an
American currency backed by
gold.
Gold was chosen as
gold had always been relatively
scarce, was a lot easier to monopolize
(or pretend to have more!), than silver - now plentifully found in huge
quantities in Aspen, Caribou, Telluride and Leadville Colorado, Virginia City
Nevada and the Calico Mountains of California.
On April 12th, 1866 Congress went back to work at the
bidding of the European central
bankers. Congress passed the, "Contraction Act," which authorized
the Secretary of the Treasury to contract the
money supply by retiring some of the
Greenback in circulation.
"The hard times
which occurred after the Civil War could have been avoided if the
Greenback legislation had continued as
Abraham Lincoln had intended.
Instead there were a series of money
panics, what we call recessions, which put pressure on Congress to enact
legislation to place the banking system under
centralized control. " - Theodore R. Thoren and Richard F.
Walker
"The Jews are a class
violating every regulation of trade established by the Treasury Department,
and also department orders and are herein expelled from the department within
24 hours from receipt of this order."
- Ulysses S. Grant (Hiram Ulysses
Grant)
With the "Contraction Act" passed by Congress the
money supply goes down purely
because currency is withdrawn from circulation.
1866 - $1,800,000,000 in circulation -
approximately $50.46 per capita
1867 - $1,300,000,000 in circulation -
approximately $44.00 per capita
1876 - $600,000,000 in circulation -
approximately $14.60 per capita
1886 - $400,000,000 in circulation -
approximately $6.67 per capita
Therefore in the twenty years from 1866
two thirds of the American
money supply had been called in.
This represented a 760% reduction in purchasing power. Money became scarce because bank loans
were called and no new loans were made.
"How then was it that the
American government, several years after
the war was over, found itself owing in London and
Wall Street several hundred
million dollars to men who never fought a battle, who never made a uniform,
never furnished a pound of bread, who never did an honest day's work in all
their lives? The facts is, that billions owned by the sweat, tears and blood of
American laborers have been poured into
the coffers of these men for absolutely nothing. This 'sacred war debt' was
only a gigantic scheme of fraud,
concocted by European capitalists."
- Mary E. Hobard, The Secrets of the Rothschilds
"Rothschild's
war profits from the
Napoleonic Wars financed their later stock speculations. Under Metternich,
Austria after long hesitation, finally agreed to accept financial direction
from the House of Rothschild." - Richard Lewinsohn, The Profits of
War
The root cause of the Panic of
1873 orginated in the first private
joint stock corporate bank authorized by Austrian government and set up on
the initiative of the House of Rothschild. The "K.K. Privilegierte
Creditanstalt für Handel und Gewerbe" (a credit
institution catering to trade and
industry) intended to practice its business activity primarily in the field of
railroad construction companies (Lombardian-Venetian state-owned railway) and
the iron industry (Prague Iron Industry Company).
On December 27, 1863
the Austrian central
bank became entirely independent from government. The
Bodencreditanstalt was founded in 1863 and the Anglo-Oesterreichische
Bank followed in 1864. During the "Grundentlastung," many members of
the high nobility had a substantial amount of liquid funds at their disposal
and were among the major shareholders of the new
joint stock corporate banks. These
banks made the financial resources of the Viennese financial center increase
rapidly.
In 1866 Alexander
II of Russia narrowly escaped an
assassination attempt in the city of Kiev and Ferdinand Cohen-Blind failed to
assassinate Otto von Bismarck in Unter den Linden in Berlin. On June 14 the
Austro-Prussian War begins.
The Austrian public administration
relies on central bank
funding during the war. Due to a breach
of the provisions of the central banks sole
issuing right the public administration was obliged to pay compensation in the
form of interest.
As early as 1863 the policymakers at the Austrian
central bank were
unhappy with the premium which had to be paid when exchanging Austrian
banknotes for silver.
Ernest Seyd was sent to
America on a mission from the Rothschild
controlled Bank of England. Ernest Seyd
was given $100,000 which he is to use to bribe as many Congressmen as
necessary, for the purposes of getting silver demonetized.
"I went to
America in the winter of 1872 - 1873,
authorized to secure, if I could, the passage of a bill demonetizing silver. It
was in the interests of those I represented, the governors of the Bank Of
England, to have it done. By 1873, gold coins were the only form of coin
money." - Ernest Seyd
On
February 12, 1873 Ulysses S. Grant signs the Coinage Act(H. R. 2934
written in 67 sections filling 35 pages of the House Journal on May 27, 1872)
which results in the minting of silver dollars being abruptly stopped.
Representative Samuel Hooper, who introduced the bill in the house, admitted
Ernest Seyd drafted the legislation. Western mining interests and others who
wanted silver in circulation labeled this measure the "Crime of '73."
Due to large expenditures on the World Exposition,
held in 1873 in the Austrian-Hungarian capital of Vienna, and the resulting
speculation on future trade, along with
the previous debt amassed fighting the
Austro-Prussian War, on May 9th, 1873,
around two dozen insurance undertakings went
into liquidation or became bankrupt with the meltdown of the Vienna Stock
Exchange in Austria.
On September 19, due to the meltdown of the Vienna
Stock Exchange, Jay Cooke and Company, a major component of the
America's banking establishment, was
unable to market several million dollars in Northern Pacific Railroad bonds
which precipitates Jay Cooke and Company's
bankruptcy. Panic sweeps
the New York Stock Exchange precipitating the Panic of 1873. Only the American branch of Jay
Cooke and Company went bankrupt - the
London branch suffered no ill effects. Remember the
soulless central bankers must
facilitate busts, crashes and panics in
order to ensure collective indebtness
interest payments which facilitates control.
In 1876 due to the
manipulation of the
money supply in
America, one third of the workforce is
unemployed and unrest is growing. There are even calls for a return to
Greenback money or silver
money. As a result, Congress
creates the United States Silver
Commission to investigate the problem. This commission states that
the deliberate contraction of the
money supply created the current "monetary crisis."
"The disaster of
the Dark Ages was caused by decreasing money and falling prices...Without
money,
civilization could not have had a
beginning, and with a diminishing
supply, it must languish, and unless relieved, finally perish.
At the Christian era the metallic money of the Roman Empire
amounted to $1,800,000,000. By the end of the 15th century it had shrunk to
less than $200,000,000. History
records no other such disastrous transition as that from the
Roman Empire to the Dark Ages." - United
States Silver Commission
Despite this report no action is
taken.
In 1877 rioting breaks out from Pittsburgh to Chicago. The
soulless central bankers hang tight,
despite the violence they are now firmly back
in control. At the meeting of the
American Bankers Association, they urged their membership to do
everything in their power to put down any
notion of a return to Greenbacks. The American
Bankers Association secretary, James Buel, writes a letter to the members
in blatantly calling on the banks to subvert both Congress and
the press.
"It is advisable to do all in
your power to sustain such prominent daily
and weekly newspapers,
especially the Agricultural and Religious Press, as well as oppose the
Greenback issue of paper
money and that you will also
withhold patronage from all applicants who are not willing to oppose the
government issue of money. To repeal
the Act creating bank notes, or to restore
to circulation issue of money will
be to provide the people with money
and will therefore seriously affect our individual
profits as bankers and
lenders. See your Congressman at once and engage him to support our interests
that we may control legislation." -
Secretary James Buel of the Associated Bankers of New York, Philadelphia, and
Boston
The press tries to turn the general
public away from the truth.
On
February 28th, 1878 Congress passed the "Sherman Law." This
law allowed the minting of a limited number
of silver dollars, ending the 5 year hiatus. However this did not mean that
anyone who brought silver to the United States Mint could have it struck into
silver dollars, free of charge, as in the period prior to Ernest Seyd's
Coinage Act in 1873. Gold
backing of the American currency also remained. The Sherman Law ensures that
some money begans to flow into the
economy again. Firmly in
control the
soulless central bankers start
issuing loans and the post Civil War depression is over.
In 1881 the
American people elect James Abram
Garfield as the 20th President of the United States. This was a worry to the
soulless central bankers, because as
a Congressman, he had been Chairman of the Appropriations Committee, and was a
member of Banking and Currency. The soulless central bankers were therefore
aware that James Abram Garfield was in
full knowledge of their scam on the
American people.
"Whosoever
controls the volume of
money in any country is absolute
master of all industry and commerce.
And when you realize that the entire system is very easily
controlled, one way or another, by a few
powerful men at the top, you will not have to be told how periods of inflation
and depression originate." - James Abram Garfield
James Abram Garfield
was shot by an assassin on July 2nd and died on September 19, 1881.
“We are
authorizing our loan officers from the Western States to loan on properties,
monies repayable by September 1st, 1894. No fatal date is to exceed this date.
On September 1st, 1894, we shall categorically refuse all loan renewals. On
that day, we shall demand the repayment of our
money, under penalty of foreclosure
on collaterals. The mortgaged properties will become ours. (Money will have become scarce
beforehand, and the repayments will have become generally impossible.) We'll
thus be able to acquire, at a price agreeable to us, two-thirds of the
farms west of the Mississippi and thousands
more east of this great river. We'll even be able to possess three quarters of
the western farms as well as all the
money in the country.
The farmers will then become land tenants only,
just like in England.” - confidential banker's leaflet 1891
By
1880, 25 percent of all farms were rented by tenants. Many tenants finally did
not have the money to rent and by 1900 there was 4.5 million farm
laborers.
The farmer is the man
The farmer is the man
Lives on
credit till the fall
With the interest rates so high
It's a wonder he
don't die
And the mortgage man's the one that gets it all
- Populist
Movement poem
"Let us make use of
the courts. Let us go forward as fast as possible at perceiving
debts, at foreclosing (depriving of
recourse to justice when a certain time
limit has been transgressed) on debentures and mortgages. When, through the
law's intervention,
the common people shall have lost
their homes, they will be more easy to control and more easy to govern, and they
shall not be able to resist the strong hand of the government acting in
accordance with the orders of the central power of imperial
wealth, under the
control of the
leaders of finance. Our top leaders
are perfectly aware of the
truth. They are presently working at
establishing an imperialism of capital
to rule the world. But while they are implementing this plan, they must
keep the people busy with political
antagonisms." - United States Bankers' Magazine 1892
“The
interests of national banks require immediate financial legislation by Congress
(the United States Government). Silver, silver certificates, and Treasury bonds
(that is to say, all the Government's money) must be retired, and National
Bank Notes made the only money. This
will require the authorization of $500 million to $1 billion of new bonds as
the basis of circulation. You will at once retire one-third of your circulation
(your paper money) and call in
one-half of your loans. Be careful to make a monetary stringency among your
patrons, especially among influential businessmen. Advocate an extra session of
Congress to repeal the purchasing clause of the Sherman Law, and act
with other banks of your city in securing a large petition to Congress for its
unconditional repeal per accompanying form. Use personal influence with your
Congressmen, and particularly let your wishes be known to your Senators. The
future life of national banks depends upon immediate action, as there is an
increasing sentiment in favor of government legal-tender notes and silver
coinage.”- “The Panic Circular”, American Bankers'
Association 1893
"The year 1893 saw the biggest economic crisis in the
country's history. After several decades of wild industrial growth, financial
manipulation, uncontrolled speculation and profiteering, it all collapsed: 642
banks failed and 16,000 businesses closed down. Out of the labor force of 15
million, 3 million were unemployed." - Howard Zinn
"Were
the Government to establish banks as depositories for all the money in the
country it is safe to presume that nearly all the money in the country would
come into these banks. We cannot enumerate in an hour all the benefits of
government ownership of the banking system but you will recognize the
following:
I. Absolute safety of the bank as a place for depositing
money.
II. Relief from anxiety to all persons who deposit money in the
banks.
III. The inducement for the common people to acquire and save
money that they may place it in the bank and get 3 per cent interest on their
deposits.
IV. The constant abundance of money in the bank by which any
person can always borrow who has security.
V. The absolute impartiality
by which the poor can borrow as cheaply as the rich, the man in Idaho borrow as
cheaply as the man in New York.
VI. Freedom from broken banks, which
precipitate the financial panic, which shut down business, which starves out
the laboring man, which compels the poor to sell for what they can get in order
to have some- thing to eat.
VII. Freedom from the hard times, resulting
from bank failures, in which period the rich take advantage of the poor, who
are out of work, to buy that which they are compelled to sell at a quarter of
the value.
VIII. Freedom from the distressed conditions from time to
time in which the millionaire so rapidly doubles and trebles his fortune.
IX. The abolition of the chattel mortgage shark that gets his 5 per
cent a month when banks are fail- ing and money is hidden. X. The abolition of
the money broker who gets his living through the simple finding of places where
money can be borrowed during the continual period of hard times.
XL The
settled financial conditions by which people can know what to depend upon when
they en- gage in business.
XII. The immense revenue to the Government -
a clear profit over and above all present means of revenue.
XIII.
Freedom from the expense borne by people who pay annually hundreds of thousands
of dollars to safe manufacturers and the proprietors of safety depositories for
the custody of money in these hiding places.
XIV. The convenience and
safety from robbery of doing business with checks instead of being compelled to
carry and use money in all business, transactions.
XV. The low rate of
interest to borrowers by which the money expended in interest can be saved and
put into general circulation instead of going into rich money loaner's hands at
the great financial centers." - Thomas E. Hill, 1894
In 1895 the Supreme Court finds an income tax law
similar to the 16th amendment unconstitutional.
"Taxation of earnings
from labor is on a par with forced labor. Seizing the results of someone's
labor is equivalent to seizing hours from him and directing him to carry on
various activities." – Robert Nozick
In 1896 the central issue in
the Presidential campaign is the issue of more silver
money. Senator William Jennings
Bryan from Nebraska makes an emotional
speech at the Democratic National Convention in Chicago, entitled, "Crown Of
Thorns And Cross Of Gold."
"We will answer their demand for a
gold standard by saying to them,
you shall not press down upon the brow of labor this crown of thorns, you shall
not crucify mankind upon a cross
of gold." - Senator Jennings
Bryan
William McKinley favored the
gold standard. Manufacturers and
industrialists inform their employees that if William Jennings Bryan is
elected, all factories and plants would close and there will be no work.
William McKinley beats William Jennings Bryan by a small margin.
"On the
one hand there is the party which holds the power because it holds the
wealth, which has in its grasp all labor
and all trade, which manipulates for its
own benefit and its own purposes all the sources of supply, and which is powerfully
represented in the councils of State
itself. On the other side there is the needy and
powerless multitude, sore and
suffering. Rapacious usury, which,
although more than once condemned by the
Church, is nevertheless under a different form but with the same guilt, still
practiced by avaricious and grasping men ... so that
a small number of very rich men have
been able to lay upon the masses of the poor a yoke little better than
slavery itself." - Pope Leo XIII
1898
The United States annexes Guam,
the Philippines,
Puerto Rico and gains temporary
control over Cuba. The Anti-Imperialist League opposed
annexation on economic, legal, and
moral grounds.
Propaganda identifies William
McKinley as an imperialist.
William McKinley is re-elected in 1900 this
time with imperialist foreign policy
paramount. William Jennings Bryan did not want
war with Spain, opposed the annexation of
the Philippines and still campaigned for
silver money but after the passage
of the Gold Standard Act of 1900 William McKinley easily won
re-election. William McKinley claimed to want
American producers supreme in
world markets.
Leon Frank Czolgosz
assassinates William McKinley. Leon Frank Czolgosz was heavy influenced by the
anarchists Emma Goldman and Ovsei
Osipovich Berkman who were deported under the Anarchist Exclusion Act of
1903.
Shortly before the
Panic of 1907 Jacob
Hirsch Schiff, the head of Kuhn, Loeb &
Company, speaking to the New York Chamber of Commerce
forewarned,"Unless we have a
central bank with
adequate control of credit resources,
this country is going to undergo the most severe and far reaching
money panic in its
history."
{"Kuhn and Loeb were immigrants from German Jewish ghettos. They came
to the U.S. in the mid 1840's and both of them started their business careers
as itinerant pack-peddlers. In the early 1850's; they pooled their interests
and set up a merchandise-store in Lafayette, Indiana under the firm-name of
"Kuhn and Loeb" servicing the covered-wagon settlers on their way west. In the
years that followed; they set up similar stores in Cincinnati and St. Louis.
Then they added "pawn-brokering" to their merchandising-pursuits. From that to
money-lending was a short and quick step." - Myron Fagan
It is likely
that Kuhn, Loeb & Company resources were
running low after financing the Russian
revolution of 1905 and the Japanese
in their war with Russia.}
"A study of the panics of 1873,
1893, and 1907 indicates that these panics were the result of the
international bankers' operations in
London." - Eustace Mullins
Paul Warburg began spending
almost all of his time writing and lecturing on the need for "bank reform."
Kuhn, Loeb & Company kept him on salary
at $500,000 per year while for the next six years he donated his time to "the
public good."
Two stock market crashes then occurred in March 1907 and
then again in October 1907 with the stock market falling nearly 50% from its
peak in 1906, there were numerous runs on banks and trust companies leading to
the closings of many banks and businesses.
John Pierpont (JP) Morgan, threatened by
the developing trusts, refused to help Knickerbocker Trust which was
experiencing a run on
deposits because of Charles T.
Barney's (Knickerbocker Trust president) connection to Charles Morse and
his partners Otto and Augustus Heinze, who had failed in a
hostile takeover attempt of
United Copper Company.
On October 21 the National Bank of
Commerce announced that it would stop accepting cheques for the
Knickerbocker Trust and Knickerbocker Trust
collapsed.
Next to the front-page article describing the run on the
Knickerbocker Trust in the Wednesday, October 23, edition of the New
York Times was a headline describing the Trust Company of America,
the second largest trust company in New York City, as the current "sore point"
in the panic. By attracting attention to the Trust Company of America,
the newspaper article greatly
exacerbated the serious run on it. This 'sore point' statement was made by
George W. Perkins, a senior Morgan
partner.
"Oakleigh Thorne testified before a congressional committee
that his bank had been subjected to only moderate withdrawals … that he
had not applied for help, and that it was the [Morgan's] 'sore point' statement
alone that had caused the run on his bank. From this testimony, plus the
disciplinary measures taken by the Clearing House against the Heinze, Morse and
Thomas banks, plus other fragments of supposedly pertinent evidence, certain
chroniclers have arrived at the ingenious conclusion that the
Morgan interests took advantage of the
unsettled conditions during the autumn of 1907 to precipitate the panic,
guiding it shrewdly as it progressed so that it would kill off rival banks and
consolidate the preeminence of the banks within the
Morgan orbit." - Frederick Lewis Allen,
Life Magazine April 25, 1949
"All this trouble could be averted
if we appointed a committee of six or seven public-spirited men like
John Pierpont Morgan to handle the
affairs of our country." - Woodrow
Wilson statement made during Panic of 1907
John Pierpont Morgan then publicly
announced that he would provide liquidity to the Trust Company of
America, staving off its collapse. (Super corporatist to the
rescue!)
"Capital must protect itself in every way.
Debts must be collected and loans and
mortgages foreclosed as soon as possible. When through a process of
law the common people have lost their homes,
they will be more tractable and more easily governed by the strong arm of the
law applied by the
central power of leading financiers.
People without homes will not quarrel with their leaders. This is well known
among our principle men now engaged in forming an imperialism of capitalism to
govern the world. By
dividing the people we can get them
to expend their energies in fighting over questions of no importance to us
except as teachers of the common herd." - John Pierpont Morgan
John Pierpont Morgan retakes
control of many smaller New York banks by
manufacturing over $40,000,000 completely reserveless private
money (fungible instruments),
purchasing goods and services with it while sending some of it to his branch
banks to be lent out at interest.
{J.P. Morgan Company began as
George Peabody and Company.
George Peabody began business in
Georgetown, D.C. in 1814 as Peabody,
Riggs and Company operating the Georgetown Slave Market. In 1815, to be
closer to their source of supply, they moved to Baltimore, where they operated
as Peabody and Riggs, from 1815 to 1835.
George Peabody found himself increasingly
involved with business originating from London, and in 1835, he established the
firm of George Peabody and Company in
London. Nathan Mayer Rothschild funded
George Peabody's ascension in London
society.
George Peabody operated
in stock markets with a half million pounds on hand, and became very astute in
his buying and selling on both sides of the Atlantic.
Junius Spencer Morgan, father of
John Pierpont Morgan, acted as
George Peabody's American agent. The Bank
of England (Nathan Mayer Rothschild) lent
George Peabody and Company five million
pounds during the Panic of 1857.
George Peabody was succeeded by
Junius Spencer Morgan. To continue the
rape of the North American continent Junius
Spencer Morgan agreed to continue the sub rosa relationship with
Nathan Mayer Rothschild, and soon expanded
the firm's activities by shipping large quantities of railroad iron to the
United States.}
"In 1907 nature responded most
beautifully and gave this country the most
bountiful crop it had ever had. Other industries were busy too, and from a
natural standpoint all the conditions
were right for a most prosperous year. Instead, a panic entailed enormous
losses upon us. Wall Street
speculation brought on the Panic of 1907. The
depositors funds were loaned to
gamblers and anybody the
Money Trust wanted to favor. Then
when the depositors wanted their
money, the banks did not have it." -
Charles A. Lindbergh, Sr.
In 1908
Theodore Roosevelt signed into
law, following the financial panic, a bill
creating the, "National Monetary Commission." This commission, packed
with John Pierpont Morgan's friends and
cronies included chairman Senator Nelson Wilmarth Aldrich from Rhode Island.
Senator Nelson Wilmarth Aldrich represented America's richest banking families
from Newport Rhode Island. {Nelson Wilmarth Aldrich's daughter Abby married
John D. Rockefeller Jr., and together they had five sons including Nelson who
would become Vice President in 1974 and David who would become Head of the
Council on Foreign Relations. Nelson Wilmarth Aldrich's son Winthrop
Aldrich became chairman of the Chase National Bank.}
Following
the setting up of this National Monetary Commission, Nelson Wilmarth
Aldrich immediately embarked on a 2 year 'fact finding' tour of Europe, where
he consulted at length with the soulless
central bankers in England, France, and
Germany, or rather Rothschild,
Rothschild, and Rothschild. The total cost of this 2 year trip to the
American taxpayer was the astoundingly
decadent sum of $300,000. [In 2006 $1.00 from 1908 was worth: $22.60 using the
Consumer Price Index; $16.87 using the gross domestic product deflator; $51.21
using the value of consumer bundle; $97.43 using the unskilled wage indicator;
$129.56 using the nominal gross domestic product per capita indicator; and
$437.89 using the relative share of gross domestic product indicator].
Nelson Wilmarth Aldrich returns from his two year European "fact
finding" mission on November 22nd, 1910. (Two years of wining and dining with
international central bankers
"Finance and the tariff are reserved by
Nelson Aldrich as falling within his sole purview and jurisdiction. Mr. Aldrich
is endeavoring to devise, through the National Monetary Commission, a banking
and currency law. A great many are firmly of
the opinion that Mr. Aldrich sums up in
his personality the greatest and most sinister menace to the popular welfare of
the United States." - Harper's Weekly, May 7, 1910
Shortly after Nelson Wilmarth
Aldrich return America's most
wealthy and
powerful men board Nelson Wilmarth
Aldrich's private railcar in the strictest secrecy and they journey to Jekyll
Island off the coast of Georgia. In this group was
Paul Warburg, who was
earning a $500,000 a year salary from Rothschild controlled firm,
Kuhn, Loeb & Company to lobby for a
privately owned central
bank in America.
Also present was
Jacob Hirsch Schiff, a
Rothschild descendant who had purchased control of
Kuhn, Loeb & Company shortly after he
arrived in America from England. The
Rothschilds, Warburgs and Schiffs, interconnected by marriage, were
essentially the same
family.
Paul Warburg married Nina
Loeb, daughter of Solomon Loeb of Kuhn, Loeb
& Company. Felix Warburg married Frieda Schiff, daughter of
Jacob Hirsch Schiff. Secrecy
at this meeting was so tight that all the participants were cautioned to use
only first names, to prevent servants from learning their identities.
Years later, one participant, Frank Vanderlip, President of National
Citibank and a representative of the Rockefeller
family, confirmed the Jekyll Island trip
in a 9th February 1935 edition of the Saturday Evening Post in which he
stated, "I was as secretive indeed, as furtive as any conspirator. Discovery we
knew, simply must not happen, or else all our time and effort would be wasted.
If it were to be exposed that our particular group had got together and written
a banking bill, that bill would have no chance whatever of passage by
Congress."
It was not just the setting up of a
central bank that was
on the agenda. Another problem for the soulless central bankers was that their
market share of these big national
banks was shrinking fast. In the first ten years of the century the number of
American banks had more than doubled to
over 20,000. By 1913 only 29% of all banks were national banks and the
soulless central bankers held only
57% of all deposits.
"Competition is
sin!" - John D. Rockefeller
"Before
passage of this Act, the New York bankers could only dominate the reserves of
New York. Now we are able to dominate bank reserves of the entire country." -
Nelson Wilmarth Aldrich
The aim of these conspirators was to bring these
new banks under their control.
America's economy was so strong that
corporations were starting to
finance their own expansions out of
profits instead of taking out
huge loans from large banks. Indeed, in the first ten years of the century, 70%
of corporate funding came
from profits. The
power levered by the dictatorship of
debt was shrinking fast and the
syndicate of the soulless was losing
control.
American industry was becoming independent
of the soulless central bankers and
they were not about to let that happen.
There
was a discussion regarding the name of the new bank. Nelson Wilmarth Aldrich
believed the
word, "bank," should not even appear in the
name. Paul Warburg wanted
to call the legislation, the, "National Reserve Bill," or the, "Federal Reserve
Bill." The idea was to give the
impression that the purpose of the new
central bank was to
stop bank runs and to
conceal its monopolistic character.
Nelson Wilmarth Aldrich insisted it be called the "Aldrich Bill." After nine
days at Jekyll Island, the group dispersed.
This group of conspirators immediately set up an 'educational' fund of $5,000,000 to finance
academics at top universities
to endorse the new central
banking plan. The new central bank would be
very similar to the old Bank Of the United States, in that it would be given a
monopoly over United States currency and create that
money without collateral backing. In
order to make the public think the new
central banking system
was under control of the United States
government, the plan called for the
central bank to be run
by a board of governors appointed by the President and approved by the Senate.
The soulless central bankers
knew they could use their
money to buy
politicians thus ensuring thier agents
were appointed to the board of governors.
"When that monetary bill was
given to the country, it was but a few days previous to the meeting of the
American Bankers Association in New Orleans in 1911. There was not one
banker in a hundred who had read that bill. We had twelve addresses in favor of
it." - Andrew Frame 1911
1912: The Aldrich Bill, presented to Congress
for debate, is very quickly identified as a bill to benefit the
soulless central bankers, or an
expression for them which was coined at the time, "The Money Trust."
"The Aldrich
plan is the Wall Street plan. It
means another panic, if necessary, to intimidate the people. Aldrich, paid by
the government to represent the people, proposes a plan for the trusts
instead." - Charles A. Lindbergh
"Under the Aldrich Plan the bankers are
to have local associations and district associations, and when you have a local
organization, the centered control is
assured. When you have hooked the banks together, they can have the biggest
influence of anything in this country, with the exception of the
newspapers." - Leslie
Shaw
As this debate raged on, the soulless central bankers realized they
didn't have enough support, so the Republican leadership never brought the
Aldrich bill to a vote as the Republican party had developed a schism. The
soulless central bankers switched
their attention to the Democrats and started heavily financing
Woodrow Wilson, the Democratic
presidential nominee.
During the Democratic presidential campaign,
Woodrow Wilson and the leadership
of the Democratic Party pretended to oppose the Aldrich bill.
As Republican representative,
Louis T. McFadden, explained twenty
years later, when he was Chairman of the House Banking and Currency
Committee, "The Aldrich Bill was condemned in the platform... when
Woodrow Wilson was nominated... The
men who ruled the Democratic Party promised the people that if they were
returned to power there would be no
central bank
established here while they held the reins of government. Thirteen months later
that promise was broken, and the
Woodrow Wilson administration,
under the tutelage of those sinister Wall Street figures who stood behind
Edward Mandell House, established here in our free country the worm-eaten
monarchical institution of the,
'King's Bank,' to control us from the top
downward, and to shackle us from the cradle to the grave."
"We object
to the Aldrich Bill on the following points:
Its entire lack of adequate
government or public control of the
banking mechanism it sets up.
Its tendency to throw voting
control into the hands of the large banks
of the system.
The extreme danger of inflation of currency inherent in the
system.
The insincerity of the bond-funding plan provided for by the
measure, there being a barefaced pretense that this system was to cost the
government nothing.
The dangerous monopolistic aspects of the bill." -
Carter Glass
On November 5th,
Woodrow Wilson was elected, and
John Pierpont Morgan,
Paul Warburg,
Bernard Mannes Baruch,
Edward Mandell House, et al,
advanced a new plan which Paul
Warburg called the Federal
Reserve system. The leadership of the Democratic Party hailed this new
bill, the "Glass-Owen" bill, as totally different to the Aldrich Bill, when in
fact it was virtually identical. The Democrats were so vehement in their denial
of the similarity of the "Glass-Owen" bill to the "Aldrich Bill" that
Paul Warburg, the creator
of both bills, had to inform his paid friends in Congress, that the two bills
were virtually identical and therefore they must vote to pass it.
"Paul Warburg is the man who
got the Federal Reserve Act
together after the Aldrich Plan aroused such nationwide resentment and
opposition. The mastermind of both plans was Baron Alfred Rothschild of
London." - Col. Garrison, an agent of Brown Brothers bankers, later Brown
Brothers Harriman
"Without
Paul Warburg there would
have been no Federal Reserve
Act. The banking house of Warburg and
Warburg in Hamburg has
always been strictly a family business.
None but a Warburg has been
eligible for it, but all Warburgs have been born into
it. In 1895 Paul Warburg
married the daughter of the late Solomon Loeb of Kuhn, Loeb & Company.
Paul Warburg became a
member of Kuhn, Loeb & Company in 1902."
- Harold Kelloch
"Brushing aside the external differences affecting
the, 'shells,' we find the, 'kernals,' of the two systems very closely
resembling and related to one another." -
Paul Warburg
However this admission by
Paul Warburg was not made
public. Instead, Nelson Wilmarth Aldrich, and Frank Vanderlip, the president of
John D. Rockefeller's National Citibank of New York, publicly stated
their opposition to the bill in order to make people
believe that the bill proposed was
radically different to the Aldrich Bill.
Frank Vanderlip stated years
later in the Saturday Evening Post, "Although the Aldrich
Federal Reserve Plan was
defeated when it bore the name Aldrich, nevertheless its
essential points were all contained in
the plan that finally was adopted."
Wilmington, Delaware attorney Alfred
Owen Crozier wrote United States Money Vs. Corporation Currency, "Aldrich
Plan" in which he stated, "Congress should go slow on currency legislation.
The recent artificial panic was to scare the country into forcing Congress to
act quickly and blindly. Selfishness instead of patriotism seems to be the
inspiration of every proposition emanating from the banking sources. They want
elasticity, a rubber currency. This means simply the power to expand and
contract the volume of money. But in every plan the banks demand the exclusive
right to excercise this dangerous power. They are unwilling to have the peoples
government have any say."
With Congress nearing a vote on the
Glass-Owen Bill they call Alfred Owen Crozier to testify.
"The bill
should prohibit the granting or calling in of loans for the purpose of
influencing quotation prices of securities and the contracting of loans or
increasing interest rates in concert by the banks to influence public
opinion or the action of any legislative
body. Within recent months, William McAdoo, Secretary of the Treasury of the
United States was reported in the open press as charging specifically that
there was a conspiracy among certain of
the large banking interests to put a contraction upon the currency and to
raise interest rates for the sake of making the public force Congress into
passing currency legislation desired by
those interests. The so-called administration currency bill grants just
what Wall Street and the big
banks for twenty-five years have been striving for, that is, PRIVATE INSTEAD OF
PUBLIC CONTROL OF CURRENCY. It does
this as completely as the Aldrich Bill. Both measures rob the government and
the people of all effective control over
the public's money, and vest in the
banks exclusively the dangerous power to
make money among the people scarce
or plenty. The Aldrich Bill puts this power
in one central bank.
The Administration Bill puts it in twelve regional
central bank, all
owned exclusively by the identical private interests that would have owned and
operated the Aldrich Bank. President Garfield shortly before his assassination
declared that whoever controls the supply
of currency would control the business
and activities of the people." - Alfred Crozier 1913
"Centralization of credit in
the banks of the state, by means of a national bank with state capital and an
exclusive monopoly." - Point 5 Communist Manifesto,
Karl Heinrich Marx aka
Karl Heinrich
MordechaiOn December 19, 1913, the Senate passed their version
by a vote of 54-34. More than forty important differences in the House and
Senate versions remained to be settled.
"The bill as it stands seems to
me to open the way to a vast inflation of currency… I do not like to
think that any
law can be passed which will make it possible
to submerge the gold standard in a
flood of irredeemable paper currency." - Henry Cabot Lodge Sr.
Opponents of the bill in both houses of Congress were led
to believe that many weeks would elapse
before the the Federal Reserve
Act conference bill would be ready for consideration and they left town for
the holiday. In a single day the differences were ironed out and the bill was
quickly brought to a vote. On Monday, December 22, 1913, the
Federal Reserve Act was
passed by the House 282-60 and the Senate 43-23.
Woodrow Wilson signed the
Federal Reserve Act on
December 23, 1913.
{A
comparative print of the Federal
Reserve Act of 1913 as passed by the House of Representatives and amended
by the Senate shows the following change:
The Senate struck out, "To
suspend the officials of Federal
Reserve banks for cause, stated in writing with opportunity of hearing,
require the removal of said official for incompetency, dereliction of duty,
fraud or deceit, such removal to be subject to approval by the President of the
United States."
Changed by the Senate to read "To suspend or remove any
officer or director of any Federal Reserve bank, the cause
of such removal to be forthwith communicated in writing by the
Federal Reserve Board to the
removed officer or director and to said bank."
This completely alters
the conditions under which an officer or director might be removed. The
power is taken from the President and given
to the soulless bankers of the Federal
Reserve Board.
We no longer know what the conditions for removal are,
or the cause. Apparently incompetency, dereliction of duty, fraud or deceit do
not matter to the Federal Reserve
Board. Also, the removed officer does not have the opportunity of appeal to
the President. In answer to written inquiry, the Assistant Secretary of the
Federal Reserve Board replied that
only one officer has been removed "for cause" in the thirty-six years, the name
and details of this matter being a "private concern" between the individual,
the Reserve Bank concerned, and the Federal Reserve Board.
}
"In practice, the Federal Reserve Bank of New York
became the fountainhead of the system of twelve regional banks, for New York
was the money market of the nation.
The other eleven banks were so many expensive mausoleums erected to salve the
local pride and quell the Jacksonian fears of the hinterland. Benjamin Strong,
president of the Bankers Trust (J.P. Morgan) was selected as the first Governor
of the Federal Reserve Bank
of New York. Adept in high finance, Benjamin Strong for many years
manipulated the country's monetary system
at the discretion of directors representing the leading New York banks. Under
Benjamin Strong, the Reserve System was brought into interlocking relations
with the Bank of England and the Bank of France. Benjamin Strong held his
position as Governor of the Federal Reserve Bank of New York
until his sudden death during a Congressional investigation of the secret
meetings in 1928 between Reserve Governors and heads of European
central banks which
brought on the Great Depression of 1929-31." - Ferdinand Lundberg
The
signing of the Federal Reserve
Act by Woodrow Wilson
represented the culmination of years of collusion with his intimate friends,
Edward Mandell House,
Bernard Mannes Baruch,
Paul Warburg, et al.
"This Act establishes the most gigantic trust
on earth. When the President signs this
bill, the invisible government of the
monetary power will be legalized. The people may not know it immediately,
but the day of reckoning is only a few years removed." - Charles A Lindbergh
Sr.
"In the United States today we have in effect two governments…
We have the duly constituted Government… Then we have an independent,
uncontrolled and uncoordinated government in the
Federal Reserve system,
operating the money powers which are
reserved to Congress by the Constitution." - Represenative Wright Patman,
Chairman of the House Banking Committee
In
October of 1913 Congress passed a bill, authored by Nelson Wilmarth Aldrich,
legalizing the direct income tax of the people which is now commonly known as
the 16th amendment. The income tax law was fundamental to the
Federal Reserve as the
Federal Reserve system would
run up, essentially, an
unlimited Federal
debt. The only way to guarantee the
payment of interest on this debt was to
directly tax the people, like the
Bank of England. If the Federal
Reserve had to rely on contributions from the States, they would be dealing
with bigger entities, who could revolt and refuse to pay the interest on their
own money, or at least bring
political pressure to bear in order to
keep the debt small. The
16th amendment was
never legally ratified according
to Bill Benson's evidence.
"Since the Federal Reserve Act was passed
almost 100 years ago, powerful private interests have slowly consumed our
Federal Government. Their monopoly power over our monetary system has allowed
them to seize all the other powers of government which they used to impose
their will onto every area of our lives, from education, to industry, to
healthcare . . . all of it."- Bruce McDonald
"The establishment of the
Federal Reserve ensured that the United States would become indebted to and
owned by international banking interests, and thus, act in their interest. The
Fed financed the US role in World War I, provided the credit for speculation,
which led to the Great Depression, and massive consolidation for the interests
that own the Federal Reserve System. It then financed US entry into World War
II." - Andrew Gavin Marshall
"Socialism as dreamed by
Karl Marx called for a graduated income tax
and a central bank
providing "a flexible [inflatable paper] currency." - Edward Mandel
HouseOn December 24, 1913,
Jacob Hirsch Schiff wrote to
Edward Mandell House, "My
dear Colonel House. I want to say a word to you for the silent, but no doubt
effective work you have done in the interest of currency legislation and to
congratulate you that the measure has finally been enacted into
law. I am with good wishes, faithfully yours,
Jacob Schiff."
If
you doubt the Federal Reserve
is a private corporation check
the phone book. The Federal
Reserve is listed in the business pages not the government
pages.
Some claim that the Federal Reserve is a
quasi-governmental agency. A President appoints only 2 of the 7 members of the
Federal Reserve Board of Governors,
every four years, to 14 year terms. A President is limited to a eight year
term. The Senate confirms these appointments as the
soulless central bankers finance
their campaigns.
The federal government/American people have never
owned a single share of stock in any
Federal Reserve bank!
All Federal Reserve banks are
privately owned!
The Federal Open Market Committee
creates
money out of
nothing!
"Bankers are in the debt business, and if governments
are allowed to create enough money to keep themselves and their constituents
out of debt, lenders will be out of business. The central banks charged with
maintaining the banking business therefore insist on a stable currency at all
costs, even if it means slashing services, laying off workers, and soaring debt
and interest burdens. For the financial business to continue to boom,
governments must not be allowed to create money themselves, either by printing
it outright or by borrowing it into existence from their own government-owned
banks." - Ellen Brown
Most "currency" is now in
the form of electronic records, rather than paper records such as banknotes.
Open market operations are conducted
simply by electronically increasing or decreasing ('crediting' or 'debiting')
the amount of currency that a bank has in its reserve account at the
central bank in
exchange for a fungible instrument. (Fungible instruments are simply entries in
an electronic spreadsheet.)
Currency is created when the balance in a reserve account
is increased. The newly created currency
is then used by the central bank to buy in
the open market other fungible
instruments which may or may not be backed with tangible financial asset, such
as government bonds, foreign currency, or
gold. When the
central bank sells
these fungible instruments in the open
market, the amount of currency that
the purchasing bank holds decreases, effectively destroying
currency.
The United States Department of the Treasury sells marketable
securities (Bills, Notes, Bonds, and Treasury Inflation-Protected Securities
(TIPS) to the public through regular public auctions to raise the cash needed
to operate the federal government and to refund maturing securities.
Marketable securities can be bought,
sold or transferred after they are originally issued.
Marketable securities are simply
government IOU's. People purchase marketable securities in order to get a
secure rate of interest. At the end of the term of the
marketable security, the United
States Department of the Treasury repays the principle, plus interest and the
marketable security is destroyed -
ie. the fungible instrument is deleted
from the electronic speadsheet.
For example the
Federal Reserve system
exchanges a fungible instrument for
$1,000,000 of marketable securities
from the United States Department of the Treasury. When the fractional reserve
is 10% - $10,000,000 can then be loaned on a $1,000,000 purchase of
marketable securities.
The
Federal Reserve, in effect,
has created 10% of this totally new
$10,000,000 by 'purchasing' government IOU's with
fungible instruments (which in this case
is simply a Federal Reserve
entry in an electronic spreadsheet). The
Federal Reserve then issues
loans to member banks to create the other 90%.
To reduce the amount of
money in circulation this process is
simply reversed. The Federal
Reserve sells marketable
securities to the public and the money flows out of the purchaser's
local bank. When the fractional reserve is 10% - loans must be then reduced by
ten times the amount of the sale, so a
Federal Reserve sale of
$1,000,000 in marketable securities, results in a $10,000,000 reduction of
currency in the economy when fractional reserve rules are observed.
The
Federal Reserve
controls the amount of currency in
circulation in two ways.
The first way the
Federal Reserve
controls the amount of currency in
circulation is through the purchase and sale of
marketable securities. (The
Federal Reserve also
controls the interest rate on the
marketable securities through it's
purchasing and sales of marketable
securities. When the United States Department of the Treasury offers more
marketable securities than the rate
of demand of those marketable
securities then the Federal
Reserve can step in and purchase the excess capacity to keep interest rates
low or the Federal Reserve
can refuse to purchase those marketable
securities and the interest rate on those
marketable securities will increase
to draw in needed capital. This is why China owns so many T-bills(marketable securities)!)
The
second way the Federal
Reserve controls the amount of
currency in circulation is through the interest rate it charges its member
banks to borrow. (When interest rates go up less currency is loaned out and
less currency in the system creates
contraction - recession or depression.)
"The financial system has been
turned over to the Federal Reserve
Board. That board administers the finance system by authority of a
purely profiteering group." -
Charles A Lindbergh Sr.
"Half a dozen men at the top of the Big Five
Banks could upset the whole fabric of government finance by refraining from
renewing Treasury Bills." - London Financial Times
9/26/1921
"Banks can and do create
money. They who
control the credit of a nation direct the
policy of governments, and hold in the
hollow of their hands the destiny of the people." - Reginald McKenna
How does the Federal
Reserve system benefit the soulless
central bankers?
As the
Federal Reserve has a
absolute authority over the currency in circulation any future monetary reform
must take place within the system as designed which is owned through the stock
of member banks by the syndicate of the
soulless. Since the only system in place is the
Federal Reserve all
deposits are made for the benefit of
the Federal Reserve system
which can loan up to 9 times the deposit when fractional reserves are
set at 10%. Monetary policy, set by the
privately owned and operated Federal Reserve, is highly
independent of effective political
control. To assure that the
soulless central bankers retain
control of international finance the
Federal Reserve is
subservient only to the Bank of International Settlements which is
controlled by the
syndicate of the
soulless!
"The great banks for years have sought to have and
control agents in the Treasury to serve
their purposes. There are bankers of this country who are enemies of the public
welfare. In the past, a few great banks have followed
policies and projects that have paralyzed
the industrial energies of the country to perpetuate their tremendous
power over the financial and business
industries of America." - Senator Stone,
Senate debate on the Federal
Reserve Act December 12, 1913
"The first task of the
Federal Reserve system would
be to finance the World War.
The European nations were already bankrupt, because they had maintained
large standing armies for almost fifty
years, a situation created by their own
central banks, and
therefore they could not finance a war. A
central bank always
imposes a tremendous burden on the nation for "rearmament" and "defense", in
order to create inextinguishable
debt, simultaneously
creating a
military dictatorship and enslaving
the people to pay the "interest" on the debt which the bankers have artificially
created." - Eustice Mullins
In
1914 at the start of World War
I the German Rothschilds loaned money to the Germans, the British
Rothschilds loaned money to the
British, and the French Rothschilds loaned
money to the French while the
Federal Reserve
provided liquidity with cash
infusions. (Interestingly the soulless central bankers always seem to have
plenty of money to lend for war purposes!)
"To cause high prices, all
the Federal Reserve Board will do
will be to lower the rediscount rate, producing an expansion of credit and a
rising stock market, then when business men are adjusted to these conditions,
it can check prosperity in mid-career by
arbitrarily raising the rate of
interest. It can cause the pendulum of a rising and falling market to swing
gently back and forth by slight changes in the discount rate, or cause violent
fluctuations by a greater rate variation, and in either case it will possess
inside information as to financial conditions and advance
knowledge of the coming change, either
up or down. This is the strongest, most dangerous advantage ever placed in the
hands of a special privilege class
by any government that ever existed.
The system is private, conducted for the sole purpose of obtaining the greatest
possible profits from the use
of other people's money. They know
in advance when to create panics to their
advantage. They also know when to stop
panic. Inflation and deflation work equally well for them when they
control finance." - Charles A Lindbergh
Sr.
The
Federal Reserve banks began
operations on November 16, 1914 with total assets listed at $143,000,000
garnered from the sale of shares in the
Federal Reserve banks to
stockholders of the
national banks which subscribed to it. It seems most likely that from the
very outset, the Federal
Reserve operations were "paper issued against paper", that
fungible bookkeeping entries in a
datatbase comprised the only values which
actually "changed hands."
The stock in the original twelve regional
Federal Reserve banks was
purchased by national banks in twelve regions. The
Federal Reserve Bank of New
York set the interest rates and directed open
market operations, thus
controlling the daily supply and
value of
money throughout
America.
The original
organization certificates of the twelve
Federal Reserve banks gave
the ownership of shares by the national banks in each district. The
Federal Reserve Bank of New
York issued 203,053 shares, and, as filed with the Comptroller of the Currency
May 19, 1914, the large New York City banks took more than half of the
outstanding shares. The Kuhn, Loeb &
Company controlled National City Bank took the largest number of shares of
any bank, 30,000 shares. J.P. Morgan's First National Bank took 15,000 shares.
When these two banks merged in 1955, they owned in one block almost one fourth
of the shares in the Federal
Reserve Bank of New York, which controlled the entire system, and thus they
could name Paul Volcker*,
Alan Greenspan*, Ben S. Bernanke* or anyone else they chose to be
Chairman of the Federal Reserve Board
of Governors. Chase National Bank took 6,000 shares. The Marine Nation Bank
of Buffalo, later known as Marine
Midland, took 6,000 shares. This bank was owned by the Schoellkopf family,
which controlled Niagara Power Company
and other large interests. National Bank of Commerce of New York City took
21,000 shares.
Even as the original sale was made it became impossible
to trace who owned the stock in the
corporate banks that owned shares of the
Federal Reserve as shareholds
are protected from disclosure. (What are they trying to hide!)
Each
member bank of the Federal Reserve system owns nonnegotiable shares of stock in
its regional Federal Reserve Bank. A 6 percent dividend is paid on the stock to
member banks which are all privately (through a joint stock corporation) owned
and operated.
Federal Reserve Board of Governors must approve Federal
Regional Bank presidents.
The current members of the Board of Governors are:
*
Ben Bernanke, Chairman
* Donald Kohn,
Vice-Chairman
* Frederic
Mishkin
* Kevin Warsh
(married to Jane Lauder*)
*
Randall Kroszner affiliated
with American Enterprise Institute
"The Federal
Reserve was created to promote price
stability, prevent financial panics and smooth out the amplitude of the
business cycle. Ironically, and unbeknownst to most
Americans,
Federal Reserve
policy is enormously responsible for the
boom-and-bust economic metric. Interest rate
reductions, money supply
manipulation, currency intervention, and
interference in the private sector are not the marks of a free-market
economy." - Drew Klein 04/08
In 1915
John Pierpont Morgan became the sales
agent for the, "War Materials Board," to both the British and the French
engaged in World War I.
Woodrow Wilson appointed
Bernard Mannes Baruch to
head the "War Industries Board." According to historian, James Perloff,
both Bernard Mannes Baruch
profited by approximately 200 million dollars during
World War I.
In 1916
Woodrow Wilson began to realize the
gravity of the damage he had done to America, by unleashing the
Federal Reserve on the
American people.
"We have come
to be one of the worst ruled, one of the most completely
controlled governments in the civilized
world - no longer a government of
free opinion, no longer a government by a vote of
the majority, but a government by
the opinion and duress of a
small group of dominant men. Some of
the biggest men in the United States, in the field of
commerce and manufacture, are afraid
of something. They know there is a
power somewhere
so organized, so subtle, so watchful, so
interlocked, so complete, so pervasive, that they had better not speak
above their breath when they speak in condemnation of it."-
Woodrow Wilson
In
1917 Woodrow Wilson calls for
war on
Germany, which Congress declares on
April 6, 1917.
With the entry of the United States into the
World War I, Julius H. Barnes,
a grain salesman, and Prentiss Gray, a lumber shipping clerk, were given
important posts in the newly created
United States Food Administration under Herbert Hoover's direction. Julius H.
Barnes became President of the Grain Corporation of the United States Food
Administration and Prentiss Gray was chief of Marine Transportation. G. A.
Zabriskie, was named head of the United States Sugar Equalization Board. All
three - Julius H. Barnes, G. A. Zabriskie, Prentiss Gray - were agents for J.
Henry Schroder Banking Corporation in New York
After the
World War I, the partners of J.
Henry Schroder Company owned most of Cuba's sugar industry. M.E. Rionda was
president of Cuba Cane Corporation, director of Manati Sugar Company and
American British and Continental Corporation, and other firms. Baron Bruno von
Schroder, senior partner of the firm, was a director of North British and
Mercantile Insurance Company. His father, Baron Rudolph von Schroder of
Hamburg, was a director of Sao Paulo Coffee Ltd., one of the largest Brazilian
coffee companies, with F.C. Tiarks, also of the Schroder firm.
The Czars
of Russia continually opposed a
central bank in
Russia and supported
Abraham Lincoln during the Civil
War. Jacob Hirsch Schiff spent 20
million dollars through his firm, Kuhn, Loeb & Company, to finance the
Bolshevik Revolution.
It is commonly
believed that
communism is the opposite of
capitalism, so why would
these capitalists support it?
"If one
understands that
socialism is not a
share-the-wealth program, but it is
in reality a method to consolidate and
control the
wealth, then the seeming
paradox of super-rich men promoting
socialism becomes no
paradox at all. Instead it becomes
logical, even the
perfect tool of
power seeking
meglomaniacs. Communism,
or more accurately socialism,
is not a movement of the downtrodden masses, but of the
economic elite." - Gary
Allen
In January 1919 the Paris Peace Conference takes place
following the end of World War
I. The soulless central bankers
put World Government at the top of
their agenda, and Paul
Warburg and Bernard Mannes
Baruch attend this conference with Woodrow Wilson. To the
soulless central bankers dismay, the
world was not yet ready to dissolve national
boundaries and accept World
Government, so that part of their plan failed. The plan for
World Government was called the,
"League Of Nations," and although many nations accepted this proposal,
the United States Congress would not support it, and thus without the support
of money from the United States
Treasury, the soulless central
bankers had failed and World
Government was put on hold for the time being.
{The League Of Nations
existed from 1919 – 1946. The League Of Nations was replaced by the first
World Government - the United
Nations after World War
II.}
In 1920 Warren G. Harding is elected President of the United
States, and succeeds Woodrow Wilson
in 1921. This will be the start of a period which became
known as the, "roaring twenties."
Despite the fact that World War
I had saddled America with a
debt that was ten times larger than its
Civil War debt, the United States
economy grew in abundance. Also,
gold had poured into
America during the war and continued
during the 1920's. The reason for this growth is that Warren G. Harding reduced
taxes domestically, and increased tariffs on imports to record levels.
"If our nation can issue a dollar bond, it can issue a dollar bill. The
element that makes the bond good, makes the
bill good, also...It is absurd to say that our country can issue 30 million
dollars in bonds and not 30 million dollars in currency. Both are
promises to pay, but one
promise fattens the usurers and the
other helps the people." - Thomas
Edison, December 6, 1921New York Times
"People who will not
turn a shovelful of dirt nor contribute a pound of material will collect more
money from the United States than
will the people who supply the material
and do the work. That is the terrible thing about interest. In all our great
bond issues the interest is always greater than the principal. All of the great
public works cost more than twice the actual cost, on that account." -
Thomas Edison
"These
international bankers and Rockefeller-Standard Oil
interests control the majority of
newspapers and the columns of
these newspapers to club into
submission or drive out
of public office officials who refuse to do the bidding of the
powerful corrupt cliques which compose
the invisible government." - Theodore Roosevelt (made
previously)
"The warning of Theodore Roosevelt has much
timeliness today, for the real menace of our republic is this
invisible government which like a giant
octopus sprawls its slimy length over city, state, and nation...It seizes
in its long and powerful tentacles our executive officers, our legislative
bodies, our schools, our courts, our
newspapers, and every agency
created for the public protection... To
depart from mere generalizations, let me say that at the head of this octopus
are the Rockefeller-Standard Oil
interest and a small group of powerful
banking houses generally referred to as
international bankers. This little
coterie of powerful international
bankers virtually run the United States Government for their own
selfish purposes. They
practically control both parties,
write political platforms, make catspaws
of party leaders, use the leading men
of private organizations, and resort to every device to place in nomination
for high public office only such candidates as will be amenable to the dictates
of corrupt
big business...these
International Bankers and
Rockefeller-Standard
Oil interests control the
majority of
newspapers and magazines in
this country." - John Hylan, Mayor of New York, March 26, 1922New York
Times
"The Jews are
responsible for Bolshevism in
Russia, and
Germany too. I was far too
indulgent with them during my reign, and I bitterly regret the favors I showed
the prominent Jewish bankers."-
German Kaiser Wilhelm II Chicago Tribune July 2, 1922
On August
2nd, 1923 Warren G. Harding dies on a train under mysterious circumstances. The
cause was given as either food poisoning or a stroke although no autopsy was
performed. Warren G. Harding was succeeded by his Vice-President
Calvin Coolidge.
Calvin Coolidge continued Warren
G. Harding's tax cutting and tariff raising policies. This
policy was so
successful that the
economy still continued to grow, and the
huge Federal debt built up during
World War I, under Warren G.
Harding and Calvin Coolidge was
reduced by 38% down to 16 billion dollars. This was when the
Federal Reserve started
flooding the country with money,
increasing the money supply by 62%.
Shortly before his death in 1924,
Woodrow Wilson made the following
statement in relation to his support for
the Federal Reserve, "I am a
most unhappy man. I have unwittingly ruined my country. A great industrial
nation is controlled by its system of
credit. Our system of credit is privately concentrated. The growth of the
nation, therefore, and all our activities are in the
hands of a few men. We have come to
be one of the worst ruled, one of the most completely
controlled and dominated, governments in
the civilized world no longer a government by
free opinion, no longer a government by
conviction and the vote of the majority, but a government by the
opinion and the duress of
small groups of dominant men."
In Europe in July 1927 Bank of England Governor Montagu Norman,
Benjamin Strong of the Federal
Reserve Bank of New York, and Dr. Hjalmar Schacht of the Reichsbank, met in
conference. No public reports were ever made of these conferences, which
happened on numerous occasions and were wholly informal, but which covered many
important questions of gold
movements, the stability of world trade, and
world economy. Montagu Norman was
obsessed with getting back the
gold that England had lost to
America during
World War I and returning the
Bank of England to its former position of dominance in world finance.
In 1927 the Federal Reserve
bailed out the Bank of England by increasing the money supply through cheap
loans, cheap loans used to purchase stock on margin, which allowed the gold to
flow back into the coffers of the Bank of England by reducing the value of the
American dollar in relation to the British pound(£).
"Let me end
my talk by abusing slightly my status as an official representative of the
Federal Reserve. I would like to say to Milton and Anna: Regarding the Great
Depression. You're right, we did it." - Ben Shalom Bernanke, 2002 birthday
tribute to Milton Friedman
Louis T. McFadden, Chairman of the
House Banking & Currency Committee would comment on this Bank of England
plan in the midst of the Great Depression in February 1931 when he stated, "I
think it can hardly be disputed that the
statesmen and financiers of Europe
are ready to take almost any means to reacquire rapidly the
gold stock which Europe lost to
America as a result of
World War I."
"In the
1920s, the United States experienced a stock market boom, which was a result of
the commercial banks providing funds for the purchase of stock and took the
latter as collateral, creating a massive wave of underwriting and purchasing of
securities. The stock market speculation that followed was the result of the
banks borrowing substantially from the Federal Reserve. The Federal Reserve
System financed the great stock market boom." - Andrew Gavin
Marshall
1929: In April, Paul
Warburg sent out a secret warning to his
souless apostate associates that a
collapse and nationwide depression had been planned for later that year. In
August the Federal Reserve
began to tighten the money supply.
On 24th October the big New York
bankers called in their 24 hour broker call loans.
"When everything
was ready, the New York financiers
started calling 24 hour broker call loans. This meant that the stockbrokers and
the customers had to dump their stock on the market in order to pay the loans.
This naturally collapsed the stock market and brought a banking collapse all
over the country because the banks not owned by the oligarchy were heavily
involved in broker call claims at this time, and bank runs soon exhausted their
coin and currency and they had to close. The
Federal Reserve system would
not come to their aid, although they were instructed under the
law to maintain an elastic currency." -
William Jennings Bryan
This meant that both the stockbrokers and their
customers had to dump their stocks on the stockmarket to cover their loans,
irrespective of what price they had to sell them for. As a result of this the
stockmarket crashed on a day that would go down in history as, "Black
Thursday."
"At the height of the selling frenzy
Bernard Baruch brought
Winston Churchill into the visitors gallery of the New York Stock Exchange to
witness the panic and impress him with his power over the wild events on the floor." -
John Kenneth Galbraith, The Great
Crash 1929
"It was not accidental. It was a carefully contrived
occurrence. The international
bankers sought to bring about a condition of despair here so that they
might emerge as rulers of us all." - Louis T. McFadden
Curtis B.
Dall, the son-in-law of Franklin
Delano Roosevelt, who was working for Lehmann Brothers as a broker, on the
floor of the New York Stock Exchange, on the day of the crash, stated in
his 1967 book, F. D. R. My Exploited Father-In-Law, "Actually, it was
the calculated 'shearing' of the public by the
World-Money powers triggered by the
planned sudden shortage of call money in the New York Money
Market."
Between 1929 and 1933, despite the claims of how the
Federal Reserve would protect
the country against depressions and inflation, the
money supply was reduced by an
additional 33%.
"The Federal Reserve definitely
caused the Great Depression by contracting the amount of currency in
circulation by one-third from 1929 to 1933." -
Milton Friedman, radio
interview January 1996
In only a few weeks from the day of the crash, 3
billion dollars of wealth vanished. Within
a year, 40 billion dollars of wealth
vanished. However, it did not simply disappear, it just ended up consolidated
in fewer and fewer hands, as was planned.
As soon as massive loan
defaults occurred the Federal Reserve, in concert with the other central banks,
started printing money through loans that were given to
agents of the syndicate of the
soulless who purchased assets, assets which had been used for loan
collateral that had been seized on defaulted loans, for pennies on the dollar
of actual market value consolidating more wealth in the hands of
the syndicate of the
soulless.
{An example of this is Joseph P. Kennedy,
John F. Kennedy's father. In 1929
Joseph P. Kennedy was worth 4 million dollars, in 1935 that had increased to
over 100 million dollars. Joseph P. Kennedy smuggled scotch whiskey during
prohibition. Joseph P. Kennedy was an illegal drug dealer who reaped a fortune
and then bought his son the presidency!
Andrew William Mellon, Herbert
Hoover's Secretary of the Treasury, spent much of the time overseas between
1929-31 purportedly negotiating for repayment of European war debts from World
War I. Andrew William Mellon served as a director of the Pittsburgh National
Bank of Commerce.
Andrew William Mellon advised Herbert Hoover to
"liquidate labor, liquidate stocks, liquidate farmers, liquidate real
estate… it will purge the rottenness out of the system. High costs of
living and high living will come down. People will work harder, live a more
moral life. Values will be adjusted, and enterprising people will pick up from
less competent people."
Andrew William Mellon was thought to be the
third wealthiest man in America after John D. Rockefeller and Henry
Ford"}
This is how depressions are
engineered.
As stated previously
agents of the syndicate of the
soulless of the got out of the stock market and purchased
gold just before the crash, which
they shipped over to London. This meant that the
money lost by most
Americans during the crash didn't just
vanish, it just ended up in the hands of the
soulless central bankers. It also
was spent overseas, while the Great Depression was occurring, millions of
American dollars was being spent on
rebuilding Germany from damage
sustained during World War I,
in preparation for the soulless central
bankers World War II.
"After World War I,
Germany fell into the hands of the
German International Bankers. Those
bankers bought her and now they own her, lock, stock, and barrel. They have
purchased her industries, they have mortgages on her soil, they
control her production, they
control all her public utilities. The
international German bankers have
subsidized the present
government of Germany and they have
also supplied every dollar of the money
Adolf Hitler has used in his
lavish campaign to build up a threat
to the government of Bruening. When Bruening fails to obey the orders of the
German International Bankers,
Adolf Hitler is brought forth
to scare the Germans into
submission... Through the
Federal Reserve Board over 30
billion of dollars of American
money...has been pumped into
Germany...You have all heard of the
spending that has taken place in Germany...modernistic dwellings, her
great planetariums, her gymnasiums, her swimming pools, her fine public
highways, her perfect factories. All this was done on our
money. All this was given to
Germany through the
Federal Reserve Board. The
Federal Reserve Board...has pumped
so many billions of dollars into Germany that they dare not name the
total." - Louis T. McFadden,
Chairman of the House Banking & Currency Committee
"Those who controlled private capital
largely walked away from the US economy for the entire 1930s, refusing to pump
in enough new investment even to replace the machinery and goods-in-process
that were consumed during the
decade." - Robert P. Murphy
General Motors, General Electric, DuPont -
controlled by the international
bankers J. P. Morgan, Rockefeller, Chase, and Warburg - were intimately
related to the growth of the Nazi war armaments
industry. The money pumped into
Germany to build her up in
preparation for World War
II, was pumped into German banks affiliated with the Harriman interest in
New York. That money was supplied by
the the international bankers J. P.
Morgan, Rockefeller, Chase, and Warburg. Basically much of the money printed
through loans by the Federal Reserve went to rebuild Germany and
the Nazi war armaments
industry.
The Bank for International Settlements (BIS) is
established in 1930 by Charles G. Dawes (Rothschild agent and Vice President
under Calvin Coolidge from
1925-1929), Owen D. Young (Rothschild agent, founder of RCA and Chairman of
General Electric from 1922 until 1939), and Hjalmar Schacht of
Germany (President of the
Reichsbank). The BIS is referred to by the
soulless central bankers as the, "Central Bank for the
central banks."
Whereas the International Monetary Fund and the
World Bank deal with governments, the BIS
deals only with other central banks.
The BIS is a closed corporation owned by the 55 central banks. Major
shareholders include the Federal Reserve, Bank of England, Bank of Italy, Bank
of Canada, Swiss National Bank, Nederlandsche Bank, Bundesbank and Bank of
France.The heads of these central banks travel to the Basel headquarters once
every two months, and the General Meeting, the BIS's supreme executive body,
takes place once a year. The Basel headquarters are listening device proof.
There are no public minutes of the meetings. Everything discussed is
confidential. The BIS manages about 4 percent of the world's total currency
reserves, $304 trillion, as well as 120 tons of gold.
"Central bankers
can sometimes be prima donnas." - BIS Secretary General Gunter Baer
"BIS promotes an agenda of monopoly capitalist
fascism." - Dean Henderson
Central bankers wield power that
exceeds that of many political leaders. Their decisions affect entire
economies, and a single word from their lips is capable of moving financial
markets. Central bankers set interest rates, thereby determining the cost of
borrowing and the speed of global financial currents. Central bankers are in
charge of bank supervision in most countries.
The BIS, a corporation,
has the status of a sovereign power and is
immune from all governmental control. A
summary of this immunity is listed below:
1) Diplomatic immunity for
persons and what they carry with them (i.e., diplomatic pouches).
2) No
taxation on any transactions, including salaries paid to employees.
3)
Embassy-type immunity for all buildings and/or offices operated by the BIS
worldwide.
4) No oversight of operations by any government authority,
they are not audited.
5) Freedom
from immigration restrictions.
6) Freedom to encrypt any and all
communications of any sort.
7) Freedom from any legal jurisdiction, they
even have their own police force.
The first President of BIS was
Rockefeller banker Gates McGarrah - an official at Chase Manhattan and the
Federal Reserve. McGarrah is the grandfather of former CIA director Richard
Helms.
At one point in time the BIS' board of
directors, five elected - the rest permanent, were:
# Nout H E M
Wellink, Amsterdam (Chairman of the Board of Directors)
# Hans Tietmeyer,
Frankfurt am Main (Vice-Chairman)
# Axel Weber, Frankfurt am Main
#
Vincenzo Desario, Rome
# Antonio Fazio, Rome
# David Dodge, Ottawa
# Toshihiko Fukui, Tokyo
# Timothy Franz Geithner, New York
#
Alan Greenspan, Washington
# Lord George, London
# Hervé Hannoun, Paris
# Christian
Noyer, Paris
# Lars Heikensten, Stockholm
# Mervyn King, London
#
Guy Quaden, Brussels
# Jean-Pierre Roth, Zürich
# Alfons Vicomte
Verplaetse, Brussels
"The
powers of financial capitalism had a
far reaching plan, nothing less than to create a world system of financial control in
private hands able to dominate the political system of each country and the
economy of the world as a whole. This system was to be
controlled in a feudalist fashion by the
central banks of the
world acting in concert, by secret agreements
arrived at in frequent meetings and conferences. The apex of the system was to
be the Bank For International Settlements in Basel, Switzerland (home of first
World Zionist Congress, chaired by
Theodor Herzl in 1897), a private bank owned and
controlled by the
world's central banks which were
themselves private corporations. Each
central bank...sought
to dominate its government by its ability to control treasury loans, to
manipulate foreign exchanges, to
influence the level of economic activity in
the country, and to influence cooperative politicians by subsequent
economic rewards in the
business world."- Carroll Quigley
Tragedy And Hope
A handful of United States Senators led by Henry
Cabot Lodge, fought to keep the United States out of the Bank for International
Settlements. However, even though the United States rejected this World Central
Bank, the Federal Reserve
still sent members to participate in its meetings in Switzerland, right up
until 1994 when the United States was, "officially," dragged into it.
"We have in this country one of the most corrupt
institutions the
world has ever
known. I refer to the
Federal Reserve Board...This
evil
institution has
impoverished...the people of the United States...and has practically
bankrupt our government. It
has done this through...the corrupt
practices of the moneyed vultures
who control it." -
Louis T. McFadden, 1932, Chairman
of the House Banking & Currency Commission
"The
World today, however provides a spectacle of a
great concentration of Zionist
power. In New York there is a concentration of
Zionist financial power dominating the
entire world in its material affairs, and side by side with it is the
greates physical concentration of the Jews ever recorded. On the other side of
the globe, there has taken place in Russia the greatest concentration of the
Jewish revolutionary activity in all
history... The enormously significant thing in the
world today is that both this power of the purse and revolutionary activity
are working in the direction of destroying the entire
existing order of things, and not only
are they working in a common direction, but there is a mass of evidence that
they are working in unison." - Arthur Nelson Field, The Truth About the
Slump
In his final year in office, Herbert Hoover puts forward a
plan to bail out the failing banks.
Herbert Hoover felt that the banks took priority over millions of starving
Americans, however this plan did not receive support from the Democratic
Congress. Franklin Delano
Roosevelt is elected President later this year.
On March 4th, 1933
during his inaugural address, Franklin Delano Roosevelt made the
following statement, "Practices of the unscrupulous money changers stand
indicted in the court of public opinion,
rejected by the hearts and
minds of men. The
money changers have fled from their
high seats in the temple of our civilization."
The liar
Franklin Delano Roosevelt
outlaws private ownership of all gold bullion and all
gold coins with the exception of
rare coins. Most of the gold in
the hands of the average American was in
the form of gold coins and this
decree by
Franklin Delano Roosevelt was
effectively a confiscation of all the American peoples
gold. In small town
America, the people did not trust
Franklin Delano Roosevelt.
However, the people were given a simple choice. Either turn in your
gold and be paid the official
price of $20.67 an ounce or you will be liable for a $10,000 fine and a ten year
prison sentence(police state tactics). No one knows who was responsible for
this gold confiscation order. No
Congressman ever claimed having written it,
Franklin Delano Roosevelt
stated he had not written it, nor had he even read it.
Franklin Delano Roosevelt's
Secretary of the Treasury, William H. Woodin, claimed he'd never read it
either, but that it was, he stated, "What the experts wanted."
In its
20th June, 1934 issue, New Britain magazine of London published a
statement made by former British Prime Minister David Lloyd George that,
"Britain is the slave of an
international financial bloc."
"Democracy has no more persistent
and insidious foe than money
power... questions regarding Bank of
England, its conduct and its objects, are not allowed by the Speaker (of the
House of Commons)." - Lord Bryce, James Bryce, 1st Viscount Bryce
"Through the Federal Reserve
the people are losing their rights guaranteed to them by the
Constitution...common decency requires us
to examine the public accounts of the government and see what kind of crimes
against the public welfare have been committed...the people of these United
States are being greatly wronged... Every effort has been made by the
Federal Reserve to conceal
its powers - the
truth is this - the
Federal Reserve has usurped
the Government...the sack of these United States by the
Federal Reserve is the
greatest crime in history...what King
ever robbed his subject to such an extent
as the Federal Reserve has
robbed us...it is a monstrous thing for
this great nation of people to have its destinies presided over by a
traitorous government board acting
in secret concert with international
usurer. When the Federal
Reserve was passed, the people of these United States did not perceive that
a world system was being set up ... a superstate
controlled by
international bankers and international
industrialists acting together to enslave the world for their own
pleasure." - Louis T. McFadden,
Chairman of the House Banking & Currency Committee
Once all the
gold held by
American citizens had been turned in
under Franklin Delano
Roosevelt's 1933 confiscation order at the price of $20.67 an ounce without
explanation the official price of gold was then raised to $35 per
ounce. The only catch was that only foreigners could sell their
gold at the new higher price.
The world price of gold
had been set since 1810 in the private bank of N. M. Rothschild & Sons in
London, at 11:00 a.m., on a daily basis.
Paul Warburg and his
soulless money changing patners who
put their money into
gold at $20.67 before the
stockmarket crash and shipped it to London, could now ship it back and sell it
to the United States Government for the new higher price. (Baron David de
Rothschild withdrew NM Rothschild from the gold market in 2005. Expecting an
economic meltdown perhaps?)
The
soulless central bankers have a
golden rule, "He who has the
gold, makes the rules."
Fort Knox is built to store the unjustly confiscated American
gold bullion.
On October 3,
1936 Republican Congressman, Louis T.
McFadden, Chairman of the House Banking & Currency Committee, from 1920
to 1931, is poisoned and dies. The third assassination attempt, of the
soulless money changers succeeds.
Louis T. McFadden's had suffered an
earlier poisoning and had shots fired at him for trying for years to
nationalize the Federal
Reserve.
In 1937 the gold now began to flow into Fort
Knox.
By 1938 with the Federal Reserve, having been in
control of the United States economy for
25 years under the pretext of promoting monetary stability, has created three
major economic downturns including the Great
Depression.
"The stock of money, prices and output was decidedly
more unstable after the establishment of the Reserve System than before. The
most dramatic period of instability in output was, of course, the period
between the two wars, which includes the
severe (monetary) contractions of 1920-21, 1929-33, and 1937-38. No other 20
year period in American
history contains as many as three such
severe contractions. This evidence persuades me that at least a third of the
price rise during and just after World War I is attributable to the
establishment of the Federal
Reserve system...and that the severity of each of the major contractions -
1920-21, 1929-33, and 1937-38 - is directly attributable to acts of commission
and omission by the Reserve authorities... Any system which
gives so much power and so much
discretion to a few men, (so) that mistakes - excusable or not - can have
such far reaching effects is a bad system. It is a bad system to
believers in
freedom just because it gives a few men such power without
any effective check by the body politic -
this is the key political argument
against an independent central banks ...To
paraphrase Clemenceau money is much
too serious a matter to be left to the soulless central bankers." -
Milton Friedman,
Riksbank Prize winning economist
Milton Friedman would also
state, "I know of no severe depression, in any country or any time that was not
accompanied by a sharp decline in the stock of
money, and equally of no sharp
decline in the stock of money that
was not accompanied by a severe depression."
"The modern banking system
manufactures money out of nothing.
The process is perhaps the most astounding piece of sleight of hand that was
ever invented. Banking was conceived in iniquity and was born in sin. The
Bankers own the earth. Take it away from them, but leave them the
power to create deposits, and with the flick of the pen
they will create enough
deposits to buy it back again.
However, take it away from them, and all the great fortunes such as mine will
disappear, and they ought to disappear, for this would be a
happier and better
world to live in. But, if you wish to remain the
slaves of Bankers and pay the cost of
your own slavery, let them continue to
create
money and
control credit." - Sir Josiah Stamp,
director of the Bank of England 1941
In July 1944 in
Bretton Woods, New Hampshire, the International
Monetary Fund (IMF), and the
World Bank (initially called the
International Bank for Reconstruction and Development or IBRD - the name, "World Bank," was not actually adopted until
1975), are approved with full United States participation. The principal
architects of the Bretton Woods system, and hence the International Monetary Fund, were Harry Dexter White
and John Maynard Keynes. Harry Dexter
White was identified as a Soviet spy, code name "Jurist," in an FBI memo on
October 16, 1950. John Maynard Keynes was
a socialist and British citizen.
What these two
bodies essentially did, was repeat on a
world scale what the National Banking Act of 1864, and the
Federal Reserve Act of 1913
had established in the United States. They increased the reach of the
international banking cartel's privately
owned central banks, which gradually assumed the
power to dictate credit
policies to the banks of all nations. In
the same way the Federal Reserve
Act authorized the creation of a new national fiat currency called,
Federal Reserve Notes, the
International Monetary Fund has been given the
authority to issue a world fiat money called, "Special Drawing Rights,"
or SDR's. Member nations were subsequently pressured into making their
currencies fully exchangeable for SDR's. The International Monetary Fund is
controlled by its board of governors,
which are either the heads of different
central banks, or the
heads of the various national treasury departments who are dominated by their
central banks. The
voting power in the
International Monetary Fund gives the
Federal Reserve and the Bank
of England effective control.
In
1945 the second, "League Of Nations," now renamed the, "United
Nations," was approved. For the soulless central bankers,
World War II, had been a
resounding success this time as a result of the physical,
emotional, and mental exhaustion the
world had felt after yet another World War.
This blueprint for world government
would soon have its own international court system as well.
In 1946
the Bank of England is nationalized, which might seem at first sight to be a
far reaching measure, but actually made little difference in practice. Yes, the
state did acquire all the shares in the Bank of England, they now belong to the
Treasury and are held in trust by the Treasury Solicitor. However, the
government had no money to pay for
the shares, so instead of receiving money for their shares, the
shareholders were issued with government stocks. Although the state now
received the operating profits
of the bank, this was offset by the fact that the government now had to pay
interest on the new stocks it had issued to pay for the shares.
Although the Bank of England is now state-owned, the fact is that the
British money supply is once again
almost entirely in private hands, with 97% of it being in the form of interest
bearing loans of one sort or another, created by private commercial banks. As a
result of this, the bank is largely controlled and run by the
soulless central bankers. The
members of the Court of Directors, who set policy and oversee its functions, are drawn
almost entirely from the world of banks, insurance,
economists and
international
corporations.
Although the Bank of England is called a
central bank it is now
essentially a regulatory body that
supports and oversees the existing
banking system. It is sometimes referred to as "the lender of last resort," in
so far as one of its functions as the bankers' bank is to support any bank or
financial institution that gets into difficulties and suffers a run on its
liquid assets. Interestingly, in these circumstances, it is not obliged to
disclose details of any such measures, the reason being so as to avoid a crisis
in confidence.
{If there was any question of central banks creating
money by a fungible accounting entry
then that question has been answered. In March 2009 the Bank of England gave
itself 75 billion pounds, with a fungible entry and a click of the mouse, to
purchase its own outstanding bonds.
This is printing money plain and simple. So if you are a central banker you can
print all the money you want but if you are a citizen and you print money you
will be imprisoned - for a lengthy period of time. The overlords of the
syndicate of the soulless win again while the citizens just keep
bleeding.}
By 1950 every nation involved in
World War II greatly multiplied
their debt. Between 1940 and 1950, United
States Federal debt went from 43 billion
dollars to 257 billion dollars, a 598% increase; Japanese
debt increased by 1,348%; French
debt increased by 583% and Canadian
debt increased by 417%.
James Paul
Warburg, Paul Warburg's
son, appearing before the Senate on 7th February, 1950 states, "We shall have
World Government, whether or not we
like it. The only question is whether World Government will be achieved by
conquest or consent."
For a World Government to function the
economic systems of the entire world
must be centralized. Three steps were taken:
1)
Central bank
domination of national economies worldwide.
2) Centralized regional economies
through superstates such as the European Union, and regional trade unions such
as NAFTA.
3) Centralize the global
economy through the Bank of International Settlements, create a world
currency, and end national
independence through the abolition of all tariffs by treaties like NAFTA and
GATT.
"NAFTA is a major stepping stone to the
New World Order." -
Henry Kissinger, campaigning
for the passage of NAFTA
Dwight D. Eisenhower orders an
audit of Fort Knox. Fort Knox is found to contain over 700 million ounces of
gold, 70% of all the known
gold in the world. Although Federal
law requires an annual physical audit of Fort
Knox's gold, it is under
Dwight D. Eisenhower's
presidency that the last audit is carried out.
In 1963
John F. Kennedy issues dollar
bills carrying a red seal called a United States Note.
John F. Kennedy United States
Notes were merely a reissue of the Greenbacks
introduced by Abraham Lincoln.
On June 4, John F. Kennedy signed Executive
Order No. 11110 that returned to the United States government the power to
issue currency, without going through the Federal Reserve. This order gave the
Treasury the power to issue silver certificates against any silver bullion,
silver, or standard silver dollars in the Treasury. This meant that for every
ounce of silver in the United States Treasury's vault, the government could
introduce new debt free
money into circulation. By signing
Executive Order No. 11110 John F.
Kennedy signed his death warrant and was assassinated by agents of
the syndicate of the soulless on
November 22, 1963.
As of October 2009 the Central Intelligence Agency
continued to refused to release documents, by continuing to fight a six-year
court battle, related to the assassination of John F. Kennedy.
Why does
the Central Intelligence Agency
not want the American people to know what is written in those documents and who
are they still protecting?
{The Israeli newspaper
Ha'aretz on February 5, 1999, in a review of, Avner Cohen's book, "Israel and
the Bomb," states the following: "The murder of American President John F.
Kennedy brought to an abrupt end the massive pressure being applied by the U.S.
administration on the government of Israel to discontinue the nuclear
program... The book implied that, had Kennedy remained alive, it is doubtful
whether Israel would today have a nuclear option."}
"In the
United States today, we have in effect two governments ... We have the duly
constituted government ... Then we have an independent, uncontrolled and
uncoordinated government in the Federal Reserve system,
operating the money
powers which are reserved to Congress by
the Constitution." - Congressman Wright
Patman, Chairman Of The House Banking And Currency Committee, 1967
In 1968 the "Nobel Prize" in
economics is established to celebrate the
300th anniversary of the Riksbank, the Swedish
central bank. Peter
Nobel, a human rights lawyer and the great-grandson of Alfred Nobel's brother
Ludwig, along with three of his cousins, have questioned the legitimacy of the
economics prize and demanded that the Nobel name be dropped from the award.
Peter Nobel and his cousins claim the economics prize was "never in Alfred
Nobel's will and is not in the spirit of his prizes". Peter Nobel and his
cousins argue that it should be named the Riksbank Prize to reflect its
heritage.
Between 1969-2007, 53 Noble prizes in
economics were awarded. Ashkenazi
economists received more than half. The
following Ashkenazi were
awarded the Riksbank Prize: George Arthur Akerlof Kenneth Arrow, Robert Aumann,
Gary Becker, Robert Fogel, Milton Friedman, John Harsanyi,
Daniel Kahneman, Leonid Kantorovich, Lawrence Klein, Simon Kuznets, Wassily
Leontief, Harry Markowitz, Robert Merton, Merton Miller, Franco Modigliani,
Paul Samuelson, Myron Scholes, Reinhard Selten, Herbert Simon, Robert Solow,
Joseph Stiglitz, Leonid Hurwicz, Eric Stark Maskin, Roger Myerson and Paul
Krugman. (Of course this makes sense as the prize is awarded by the
Ashkenazi
controlled Swedish centeral bank - the
Riksbank.) (The official prize name is now the Sveriges Riksbank Prize in
Economic Sciences in Memory of Alfred Nobel.) In 2008 the prize was awarded to
the Ashkenazi Paul Robin
Krugman.
In 1969 Congress approves laws authorizing the
Federal Reserve to accept the
International Monetary Fund's, "SDR's," as
reserves in the United States and to issue Federal Reserve Notes in exchange for
SDR's.
By 1971 all the pure gold has been sold to
soulless central bankers for the $35
per ounce price. Richard Nixon repeals
Franklin Delano Roosevelt's
Gold Reserve Act of 1934, allowing Americans to once again buy
gold. As a result of this
gold prices began to soar. In
1980, gold sold for $880 per
ounce, a staggering 25 times what the gold in Fort Knox was sold to
the international bankers for.
In 1974 a New York periodical publishes an article claiming that the
Rockefeller family were manipulating the
Federal Reserve for the
purpose of selling off Fort Knox gold at bargain basement prices to
anonymous European speculators. 3 days after the publication of this story, its
anonymous source, long time secretary to Nelson Rockefeller, Louise Auchincloss
Boyer, mysteriously falls to her death from the window of her ten story
apartment block in New York.
In 1975 Edith Roosevelt, the
grand-daughter of Theodore
Roosevelt questioned the actions of the government in a March 1975 edition
of the New Hampshire Sunday News, in which she stated, "Allegations of
missing gold from our Fort Knox
vaults are being widely discussed in European financial circles. But what is
puzzling is that the Administration is not hastening to demonstrate
conclusively that there is no cause for concern over our
gold treasure, if indeed it is in
a position to do so." No audit of the gold in Fort Knox to quell this
speculation is taken.
In 1981 when
Ronald Reagan took office, his
conservative friends suggested to him that he return to a
gold standard, as a means to
curbing government spending. Ronald
Reagan was on board with this idea
and so he appointed a group of men called the, "Gold Commission," to undertake
a feasibility study and report their findings back to Congress.
In 1982
Ronald Reagan's, "Gold Commission,"
reports back to Congress and makes the following shocking statement concerning
gold, "The U. S. Treasury owned no
gold at all. All the
gold that was left in Fort Knox
was now owned by the Federal
Reserve, a group of soulless central
bankers, as collateral against the National debt."
"The stock of the
Federal Reserve banks is held
entirely by commercial banks that are members of the
Federal Reserve system." -
Donald J. Winn, Assistant to the Board of Governors in response to an inquiry
by a Congressman, the Honorable Norman D. Shumway, on March 10, 1983
"In
the absence of the gold standard,
there is no way to protect savings from confiscation through inflation. ...
This is the shabby secret of the welfare statists' tirades against
gold. Deficit spending is simply a
scheme for the confiscation of wealth.
Gold stands in the way of this
insidious process. It stands as a protector of property rights. If one grasps
this, one has no difficulty in understanding the statists' antagonism toward
the gold standard." -
Alan Greenspan
"This
is a staggering thought. We are
completely dependent on the commercial banks. Someone has to borrow every
dollar we have in circulation, cash or credit. If the banks
create ample synthetic
money we are prosperous; if not, we
starve. We are absolutely without a permanent
money system. When one gets a
complete grasp of the picture, the tragic absurdity of our hopeless
position is almost incredible, but there it is. It is the most important
subject intelligent persons can investigate and reflect upon. It is so
important that our present civilization may collapse unless it
becomes widely understood and the defects remedied very soon." - Robert
Hemphill
"Members of the Council on Foreign Relations played a key role
in getting America into World War
II.
They played the role in creating the basic
policies which this nation has followed
since the end of World War II.
These policies are accomplishing:
(1) the redistribution to other nations of
America's reserve of
gold which made our dollar the
strongest currency in the world;
(2) the
building up of the industrial capacity of other nations, at our expense, thus
eliminating our pre-eminent productive superiority;
(3) the taking away of
world markets from
American producers (and even much of
their domestic market) until
America will no longer dominate
world trade;
(4) the entwining of
American affairs -
economic, political, cultural, social, educational, and even
religious - with those of other nations
until America will no longer have an
independent policy, either domestic or
foreign: until we can not return to our traditional
foreign policy of maintaining
national independence, nor to free
private capitalism as an economic
system." - Dan Smoot, The Invisible Government 1962
"It is in the
pecuniary interests of the international bankers to centralize political power
- and this centralization can best be achieved within a collectivist society,
such as socialist Russia, national socialist Gerrmany, or a Fabian socialist
United States.
There can be no full understanding and appreciation of
twentieth-century American politics and foreign policy without the realization
that this financial elite effectively monopolizes Washington policy.
In
case after case, newly released documentation implicates this elite and
confirms this hypothesis. The revisionist versions of the entry of the United
States into World Wars I and II, Korea, and Vietnam reveal the influence and
objectives of this elite.
For most of the twentieth century the Federal
Reserve System, particularly the Federal Reserve Bank of New York (which is
outside the control of Congress, unaudited and uncontrolled, with the power to
print money and create credit at will), has exercised a virtual monopoly over
the direction of the American economy.
In foreign affairs the Council
on Foreign Relations, superficially an innocent forum for academics,
businessmen, and politicians, contains within its shell, perhaps unknown to
many of its members, a power center that unilaterally determines U.S. foreign
policy. The major objective of this submerged - and obviously subversive -
foreign policy is the acquisition of markets and economic power (profits, if
you will), for a small group of giant multi-nationals under the virtual control
of a few banking investment houses and controlling families.
Through
foundations controlled by this elite, research by compliant and spineless
academics, "conservatives" as well as "liberals," has been directed into
channels useful for the objectives of the elite essentially to maintain this
subversive and unconstitutional power apparatus. Through publishing houses
controlled by this same financial elite unwelcome books have been squashed and
useful books promoted. Through control of a dozen or so major newspapers, run
by editors who think alike, public information can be almost orchestrated at
will." - Anthony Sutton
"In the 1970's and the 1980's, Congressman
Lawrence Patton McDonald was the one who spearheaded the efforts against the
Bush version of the New World Order.
As a sovereigntist and Constitutionalist, a mortal foe of the Council on
Foreign Relations and Trilateral Commission, of which so many in Washington are
a part - then State Department Secretary George P. Schultz and President George
Herbert Walker Bush both prime-movers in the rush to
globalism - it is as if it was decided, by the
powers-that-be, that Lawrence Patton McDonald and the 61 other
Americans aboard Korean Airlines flight
007 might better to be put to rest. In 1976 Lawrence Patton McDonald wrote the
introduction to the "Rockefeller File", a book exposing the Rockefeller'
financial holdings and secret intentions. The book revealed that the
Rockefeller had as many as two hundred trusts and foundation type
organizations, and that the actual number of such foundations
controlled by the
family might well number into the
thousands. Such control IS possible because Rockefeller banks, such as Chase
Manhattan, have become the trustees for many other United States foundations as
well; possessing the right to invest and to vote the capital and common stock
of these institutions - through the trust department of the bank." - Alexander
James
"The drive of the Rockefellers and their allies is to create a
one-world government combining
supercapitalism and communism under the same tent, all under their
control.... Do I mean conspiracy? Yes I
do. I am convinced there is such a plot,
international in scope, generations old in planning, and incredibly evil in
intent." - Congressman Lawrence Patton McDonald, killed in the Korean
Airlines 747 that was shot down by the Soviets
"Lawrence Patton
McDonald was a cousin of George S. Patton, Jr., the famous general who was
killed in an automobile accident at the conclusion of
World War II. According to
Conspiracies of World War II by J.S. Craig, "The common rumor in
Germany at the time was that Patton
was assassinated due to his wish to join forces with
Germany and attack Russia. Patton
had openly admitted that the Allies had defeated 'the wrong enemy' and
repeatedly praised German industry and the discipline of its people." -
Alexander James
In June, 1989 Representative Henry Gonzalez, of Texas,
introduced House Resolution 1469, calling for the abolition of the Open Market
Committee of the Federal
Reserve system. He also introduced House Resolution 1470, calling for the
repeal of the Federal Reserve
Act of 1913. During the same session, Representative Phil Crane of
Illinois, introduced H.R. 70, calling for an annual audit of the
Federal Reserve. However, all
of these efforts, like those of others before them, failed.
Americans are told
to believe that the deaths of Senator
John Heinz (outspoken Vietnam
War critic), Senator John Tower (investigated the Reagan/Bush era
Iran/Contra scandal), and Senator Paul Wellstone in separate airplane crashes
were "pure" coincidence.
"Scores of banks failed in the Great
Depression as a result of unsound banking practices, and their failure only
deepened the crisis. Glass-Steagall was intended to protect our financial
system by insulating commercial banking from other forms of risk. It was one of
several stabilizers designed to keep a similar tragedy from recurring. Now
Congress is about to repeal that economic stabilizer without putting any
comparable safeguard in its place." - Senator Paul Wellstone
Paul David
Wellstone served in the Senate from 1991 until his death in a plane crash on 25
October 2002, 11 days before he was to stand in the midterm US senate election.
Paul David Wellstone's upset victory in 1990 and subsequent re-election in 1996
was also credited to a massive grassroots campaign, which inspired college
students, poor people and minorities to get involved in politics for the very
first time. Paul David Wellstone was accussed of being a "bad Jew" for marrying
a Gentile and not raising his children in the Jewish faith. Paul David
Wellstone's death came just 11 days before his potential re-election in a
crucial race to maintain Democratic control of the Senate.
"Senator John
Tower had been an outspoken critic of the "Eastern Establishment. John Tower had a
very strong sense of right and wrong, particularly on matters concerning
national security. He was well known
for "bucking" the tide. This backfired on him with deadly results when certain
members of Congress, loyal to the Reagan and Bush faction of the
Intelligence Community, banded together against him in a smear campaign which
resulted in the denial of Tower's confirmation as United States Secretary of
Defense. Outraged over the undocumented allegation made to slander his name,
Tower began the book writing process so feared in Washington circles. His
controversial book heavily criticizes his old crony pals in Congress. His death
in a plane crash on April 5, 1991 came very shortly after the book was
released. One day earlier (April 4, 1991), Senator John Heinz died in a blazing
plane crash near Philadelphia. The official reports state that the plane's
landing gear had suddenly malfunctioned. A helicopter was sent up to check out
the gear, only to end up (allegedly) crashing into the plane itself." -
Alexander James
Senator John Heinz and Senator John Tower had both been
members of the Council on Foreign Relations and realized its manipulation in
plans for world tyranny. Both had
served on powerful Senate banking and finance committees. Both were very astute
when it came to matters of monetary policy and the implementation of
foreign policy.
In
November 2005 Treasury Department figures show that from 1776 - 2000, all the
previous American Presidents borrowed a total of $1.01 trillion dollars.
Between 2001 and 2005 the Bush administration has borrowed $1.05
trillion.
On January 17, 2008, the Chairman of the Federal Reserve Board,
Mr. Bernanke, testified: "A recession is probably not on the horizon, but quick
passage of an economic-stimulus package plus aggressive action by the Federal
Reserve are the appropriate prescription for the ailing
economy."
By March 2008, all of the major United
States investment banks had either merged with commercial banks, failed, or
voluntarily placed themselves under Federal Reserve control.
Witness
the conversion of corporatism into full blown communism!
We can thank
our comrades on Wall Street for
our new communist government!
"It could be argued that the Fed
appears to be rescuing those who caused the problem at the expense of others
who had nothing to do with it. If institutions believe they will be rescued
from insolvency, they will take imprudent risks: the calculus becomes 'Heads, I
win; tails, the taxpayers lose.' Federal bank agencies addressed securitization
and offbalance sheet finance more than a decade ago, but characterized them as
useful risk management tools. Opposition to forms and degrees of regulation
that would have seemed excessive before the crisis may be muted because the
government has already established a major ownership position in the financial
services industry." - Mark Jickling, November 24, 2008
"Even though the
Federal Reserve is now the biggest single participant in the financial system,
the myth of a "free market" still lingers on. It's mind boggling. The Fed has
expanded its balance sheet by $2 trillion, guaranteed $8.3 trillion of dodgy
mortgage-backed paper, provided a backstop for bank
deposits, money markets, commercial
paper, and created 8 separate lending facilities to ensure that underwater
financial institutions can still appear to be solvent. The whole system is a
state subsidized operation buoyed on a taxpayer-provided flotation device which
bears no resemblance to an invisible
hand. More astonishing, is the massive power grab engineered by the Fed
which has taken place without the slightest protest from 535 shell-shocked
congressmen and senators. Elected officials have either kept their finger in
the air to see which way the political wind is blowing or timidly caved in to
Treasury's every multi-billion dollar demand. It's flagrant blackmail and
everyone knows it.
This is why Bernanke has launched his radical
intervention, buying bonds, stocks and anything else that will keep
asset-prices from crashing. It's an attempt to reignite spending by goosing the
market. When businesses and consumers can't sustain demand, the government has
to step in and take their place. The real worry is that Bernanke's pet theory
is merely an academic pipe-dream which is doing more harm than good. After all,
his strategy is based on a controversial reading of history that is only
accepted by disciples of Milton Friedman.
The financial crisis is not an accident of
nature, like a tornado or an avalanche.
It's a self-inflicted wound that can be traced back
to particular policies that were put
in place to shift wealth from one class to another. The
low interest rates,
the massive leveraging, the
undercapitalized institutions, the off-balance sheets operations were all
concocted with the same objective in mind. The Fed's repertoire may change, but
the results are always the same; they reflect the deeply-held class bias which
orders the economy according to the interests of rich and powerful." - Mike
Whitney December 9, 2008
the
squeeze of 2008
Until September 2008, the month of the
Lehman Brothers collapse, the
Federal Reserve had held the expansion of the Monetary Base virtually flat.
Between September and December 2008, just 3 months, the Federal Reserve allowed
the Monetary Base to increase from $836 billion to $1,479
billion.
Ben Gisin, a former banker who has long
been tracking the Fed's statistical releases, says he has never seen anything
like it. Fungible assets
magically appeared on the Fed's
balance sheet.
In May 2007 the Federal Reserve reported assets of about
$836 billion, 92% of them were the federal securities (government I.O.U.s).
By the spring of 2008 the values of federal securities had dropped to
$500 billion and total asset value had remained level until September of 2008.
By January of 2009 the Federal Reserve reported assets of $2.1
trillion, an increase of $1.2 trillion from September 2008 (fungible asset data-base entry). That increase represents
loans worth $1.2 trillion - a startling increase which more than doubled the
size of the Monetary Base from September 2008 to January 2009.
"The
Federal Reserve's Open Market Committee authorized $300 billion in purchases of
long term treasury bonds for six months. The central bank's latest efforts may
help swell its balance sheet to more than $4 trillion this year." - Scott
Lanman, March 25, 2009
Some people call this printing money!
Others call this creating "credit" simply by double-entry
bookkeeping!
The soulless central bankers put on the squeeze just a
little too hard!
"To understand the real
cause of the credit crisis and how it can be reversed, we first need to
understand credit itself what it is, where it comes from, and what the real
tourniquet is that has limited its flow. Banks actually create credit; and if
private banks can do it, so could public banks or public treasuries. The crisis
is not one of "liquidity" but
of "solvency." It has been caused, not by the banks' inability to get credit
(something they can create with fungible accounting
entries), but by their inability to meet the capital requirement imposed by
the Bank for International Settlements, the private
foreign head of the international banking system. What actually constrains bank
lending is the capital adequacy requirement, something that is imposed not by
our own central bank but by the Bank for International
Settlements (BIS). Called "the central bankers" central bank, the BIS pulls
the strings of the private international banking system from Basel,
Switzerland." - Ellen Brown
"Under a misguided set of
international rules that took hold toward the end of the 1990s, banks
were allowed use their own internal risk measurements to set their capital
requirements." - Joe Nocera
"The banks have exchanged $2 trillion of presumed toxic
waste securities consisting of Asset-Backed Securities in sub-prime mortgages,
stocks and other high-risk credits in exchange for Federal Reserve cash and
United States Treasury bonds or other Government securities rated (still) AAA,
i.e. risk-free. The result is that the Federal Reserve is holding some $2
trillion in largely junk paper from the financial system. Borrowers include
Lehman Brothers,
Citigroup and JPMorgan Chase, the
United States's largest bank by assets. These banking conglomerates oppose any
release of information because that might signal 'weakness' and spur
short-selling or a run by depositors. The Federal Reserve does
not want to discuss this. That is clearly also behind their blunt refusal to
reveal the nature of their $2 trillion assets acquired from member banks and
other financial institutions. Simply put, were the Fed to reveal to the public
precisely what 'collateral' they held from the banks, the public would know the
potential losses that the government may take." - F. William Engdahl
12/17/08
!!! 95% of the Federal Reserve "assets" are now
toxic collateralized debt obligations!!!
On
December 16, 2008 the Federal Reserve cut its interbank lending rate to a range
of 0% to .25%.
"The Fed does not need slinky women in plunging
necklines to peddle money. All it needs is low interest rates. When rates are
pushed lower than the rate of inflation, the Fed provides a subsidy for
borrowing. If I offered to give you $1.00 for every 90 cents you gave me in
return, you would buy as many dollars from me as you could. The Fed operates
the same way. It generates market activity by creating incentives for
borrowing. Borrowing leads to speculation, and speculation leads to steadily
rising asset prices. The Fed is not an unbiased observer of free market
activity. The Fed drives the market.
The Fed fuels speculation and controls behavior by fixing interest rates. The
Fed IS the market, which is why it is
foolish to talk about a "recovery". The idea of recovery implies a
free-standing system based on supply and demand. The bottom line, is that the
current financial architecture is not designed to work; it is designed to make
a handful of speculators very rich. These speculators own congress, the White
House and the financial media, which is why there has been no meaningful change
in regulations." - Mike Whitney
The interest tab to finance federal government
expenditures was $412 billion in fiscal year 2008, or about one-third of the
federal government's total income from personal income taxes which was $1,220
billion in 2008."The Federal Reserve, like other regulators around
the world, did not do all that it could have to constrain excessive risk-taking
in the financial sector in the period leading up to the crisis. Because of our
role in making monetary policy, the Fed brings unparalleled economic and
financial expertise to its oversight of banks. Our ability to make effective
monetary policy and to promote financial stability depends vitally on the
information, expertise and authorities we gain as bank supervisors." - Ben
Bernanke Sunday, November 29, 2009
Bernanke states the Fed did not do
all it could to constrain excessive risk-taking; that the Fed sets monetary
policy and that the Fed's actions are dependent on vital information it obtains
from banks.
This leaves only two possibilities: either the Fed knew
what was happening, having all the information and being in control of monetary
policy and let the risk escalate or it is unable to do its proscribed job.
Either way the Fed system is a failure. The Fed printed $12 trillion to
"save the system." The federal government could have printed $12 trillion to
"save the system" and the interest paid to the federal government could have
paid down the debt instead Americans will now have to pay exorbitant interest
rates for decades to behemoth corporations run by the syndicate of the soulless
to which wealth does not mean life but power.
By 2009 the Fed was paying
out roughly $400 million a year for "research" - much of it to outside
economists who then advocate for the Fed's agenda without disclosing their Fed
ties. Seven of the eight economists on a 2009 anti-oversight letter to Congress
failed to note they are or were on the Fed's payroll. The Fed "so thoroughly
dominates the field of economics that real criticism of the central bank has
become a career liability for members of the profession."
"The Federal
Reserve will ask a U.S. appeals court to block a ruling that for the first time
would force the central bank to reveal secret identities of financial firms
that might have collapsed without the largest government bailout in U.S.
history." - David Glovin 01/11/10
FOIA requires federal agencies to
make government documents available to the press and public. U.S. District
Judge Loretta Preska noted in her August 24, 2009 ruling that loan records are
covered by FOIA and rejected the Fed's claim that their disclosure might harm
banks and shareholders.
"The Fed speculates on how a borrower might
enter a downward spiral of financial instability if its participation in the
Federal Reserve lending programs were to be disclosed. Conjecture, without
evidence of imminent harm, simply fails to meet the board's burden of proof." -
U.S. District Judge Loretta Preska
In its appeal, the Board of
Governors of the Federal Reserve System argued that disclosure of "highly
sensitive" documents, including 231 pages of daily lending reports,
threatens to stigmatize lenders and cause them "severe and irreparable
competitive injury."
What are they trying to
hide?
"The outbreak of the current crisis and its spillover
in the world have confronted us with a long-existing but still unanswered
question, i.e., what kind of international reserve currency do we need to
secure global financial stability and facilitate world economic growth, which
was one of the purposes for establishing the International Monetary Fund?
There were various institutional arrangements in an attempt to find a
solution, including the Silver Standard, the Gold Standard, the Gold Exchange
Standard and the Bretton Woods system. The above question, however, as the
ongoing financial crisis demonstrates, is far from being solved, and has become
even more severe due to the inherent weaknesses of the current international
monetary system.
Theoretically, an international reserve currency
should first be anchored to a stable benchmark and issued according to a clear
set of rules, therefore to ensure orderly supply; second, its supply should be
flexible enough to allow timely adjustment according to the changing demand;
third, such adjustments should be disconnected from economic conditions and
sovereign interests of any single country.
The acceptance of
credit-based national currencies as major international reserve currencies, as
is the case in the current system, is a rare special case in history.
The crisis again calls for creative reform of the existing
international monetary system towards an international reserve currency with a
stable value, rule-based issuance and manageable supply, so as to achieve the
objective of safeguarding global economic and financial stability.
Issuing countries of reserve currencies are constantly confronted with
the dilemma between achieving their domestic monetary policy goals and meeting
other countries' demand for reserve currencies. On the one hand, the monetary
authorities cannot simply focus on domestic goals without carrying out their
international responsibilities, on the other hand, they cannot pursue different
domestic and international objectives at the same time. They may either fail to
adequately meet the demand of a growing global economy for liquidity as they
try to ease inflation pressures at home, or create excess liquidity in the
global markets by overly stimulating domestic demand.
The Triffin
Dilemma, i.e., the issuing countries of reserve currencies cannot maintain the
value of the reserve currencies while providing liquidity to the world, still
exists.
The frequency and increasing intensity of financial crises
following the collapse of the Bretton Woods system suggests the costs of such a
system to the world may have exceeded its benefits.
The desirable goal
of reforming the international monetary system, therefore, is to create an
international reserve currency that is disconnected from individual nations and
is able to remain stable in the long run, thus removing the inherent
deficiencies caused by using credit-based national currencies.
The
International Monetary Fund created the Special Drawing Rights(SDR) in 1969,
when the defects of the Bretton Woods system initially emerged, to mitigate the
inherent risks sovereign reserve currencies caused.
A super-sovereign
reserve currency managed by a global institution could be used to both create
and control the global liquidity. When a country's currency is no longer used
as the yardstick for global trade and as the benchmark for other currencies,
the exchange rate policy of the country would be far more effective in
adjusting economic imbalances. This will significantly reduce the risks of a
future crisis and enhance crisis management capability.
Special
consideration should be given to giving the SDR a greater role.
The SDR
has the features and potential to act as a super-sovereign reserve currency.
Moreover, an increase in SDR allocation would help the Fund address its
resources problem and the difficulties in the voice and representation reform.
Therefore, efforts should be made to push forward a SDR allocation. The scope
of using the SDR should be broadened, so as to enable it to fully satisfy the
member countries' demand for a reserve currency.
The SDR, which is now
only used between governments and international institutions, could become a
widely accepted means of payment in international trade and financial
transactions.
The allocation of the SDR can be shifted from a purely
calculation-based system to a system backed by real assets, such as a reserve
pool, to further boost market confidence in its value.
Entrusting part
of the member countries' reserve to the centralized management of the IMF will
not only enhance the international community's ability to address the crisis
and maintain the stability of the international monetary and financial system,
but also significantly strengthen the role of the SDR. With its universal
membership, its unique mandate of maintaining monetary and financial stability,
and as an international "supervisor" on the macroeconomic policies of its
member countries, the IMF, equipped with its expertise, is endowed with a
natural advantage to act as the manager of its member countries' reserves." -
Zhou Xiaochuan, governor of the People's Bank of China 03/23/09
Zhou Xiaochuan suggests the American people turn over their
sovereignty and allow control of the American banking system by an
internationally controlled International Monetary Fund.
One World Government here
we come!
"The International Monetary Fund's Articles of Agreement
prevent countries from restoring the "dual exchange rate" systems that many
retained down through the 1950s and even into the 60s. It was widespread
practice for countries to have one exchange rate for goods and services
(sometimes various exchange rates for different import and export categories)
and another for "capital movements."
Under American pressure, the IMF
enforced the pretence that there is an "equilibrium" rate that just happens to
be the same for goods and services as it is for capital movements. Governments
that did not buy into this ideology were excluded from membership in the IMF
and World Bank or were overthrown.
The implication today is that
the only way a nation can block capital movements is to withdraw from the IMF,
the World Bank and the World Trade Organization (WTO). For the first time since
the 1950s this looks like a real possibility, thanks to worldwide awareness of
how the U.S. economy is glutting the global economy with surplus "paper"
dollars and U.S. intransigence at stopping its free ride. From the U.S.
vantage point, this is nothing less than an attempt to curtail its
international military program." - Michael Hudson |
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