Written by Rohaan Solare on Wednesday, January 21, 2009 14:54 - 3 Comments
UNDERSTANDING BANKING, The Monetary System And Why We Must Reform Them
Can there be a subject more complicated and obscure than the history and practice of the modern monetary system? If you wish to understand the source and function of Western Capitalist Economics then please read and listen…….
…..to what the Economists, Bankers, Industrialists, Congressmen, Presidents and other qualified insiders have to say about the nature of the monetary system, its purveyors and its ultimate consequences.
“The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it.” — Money: Whence it came, where it went – 1975, p15 –John Kenneth Galbraith, Economist, Former US Economic adviser, once President of the American Economic Association, Harvard and Princeton Professor, Author and former US Ambassador to India ( I highly recommend that the reader review the wikipedia article on this man who is perhaps the most distinguished economists of the 20th Century.
“The process by which banks create money is so simple that the mind is repelled.” Money: Whence it came, where it went – 1975, p29–John Kenneth Galbraith
“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…. 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 H. Hamphill, Atlanta Federal Reserve Bank
“Banks lend by creating credit. They create the means of payment out of nothing” — Ralph M. Hawtrey, Secretary of the British Treasury
“With the monetary system we have now, the careful saving of a lifetime can be wiped out in an eyeblink.”– Lawrence Parks, Professor of Economics and Executive Director, Foundation for the Advancement of Monetary Education (FAME) and Author of the book ‘What Does Mr. Greenspan Really Think’?
“When you or I write a check there must be sufficient funds in out account to cover the check, but when the Federal Reserve writes a check there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money.” — Putting it simply, Boston Federal Reserve Bank
“The decrease in purchasing power incurred by holders of money due to inflation imparts gains to the issuers of money.”–St. Louis Federal Reserve Bank, Review, Nov. 1975, p.22
“By this means government may secretly and unobserved, confiscate the wealth of the people,
and not one man in a million will detect the theft.”–John Maynard Keynes (the father of ‘Keynesian Economics’ which our nation now endures) in his book “THE ECONOMIC CONSEQUENCES OF THE PEACE” (1920).
“Should government refrain from regulation (taxation), the worthlessness of the money becomes
apparent and the fraud can no longer be concealed.” — John Maynard Keynes, “Consequences ofPeace.”
“Those who create and issue money and credit, direct the policies of government and hold in the hollow of their hands the destiny of the people.”– Reginald McKenna, former British Statesman and Chairman of the Midland Bank.
“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 like 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 deposits”.- SIR JOSIAH STAMP, (President of the Bank of England in the 1920′s, the second richest man in Britain):
“Neither paper currency nor deposits have value as commodities, intrinsically, a ‘dollar’ bill is just a piece of paper. Deposits are merely book entries.” — Modern Money Mechanics Workbook, Federal Reserve Bank of Chicago, 1975
G. Edward Griffen on the Federal Reserve System
“When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it” from The Law–Frederic Bastiat, French Political and Economic scientist
SENATORS AND CONGRESSMEN
“We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people.”– US Representative Daniel Webster, speech in the Senate, 1833
“Of all the contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money.” - Daniel Webster, US Representative
“Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States” — Sen. Barry Goldwater (Rep. AR)
“This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson} signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill." -- Charles A. Lindbergh, Sr. , 1913
"Government spending is always a “tax” burden on the American people and is never equally or fairly distributed. The poor and low-middle income workers always suffer the most from the deceitful tax of inflation and borrowing." -US Congressman Ron Paul
"The financial system has been turned over to the Federal Reserve Board. That Board as ministers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money" -- Congressman Charles A. Lindbergh Sr., 1923
"The Federal Reserve bank buys government bonds without one penny..." -- Congressman Wright Patman, Congressional Record, Sept 30, 1941
"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 bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it". -- Congressman Louis T. McFadden in 1932 (Rep. Pa)
"The Federal Reserve banks are one of the most corrupt institutions the world has ever seen.
There is not a man within the sound of my voice who does not know that this nation is run by the
International bankers -- Congressman Louis T. McFadden (Rep. Pa)
"Some people think the Federal Reserve Banks are the United States government's institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers" -- Congressional Record 12595-12603 -- Louis T. McFadden, Chairman of the Committee on Banking and Currency (12 years) June 10, 1932
"I have never seen more Senators express discontent with their jobs....I think the major cause is that, deep down in our hearts, we have been accomplices in doing something terrible and
unforgiveable to our wonderful country. Deep down in our heart, we know that we have given our children a legacy of bankruptcy. We have defrauded our country to get ourselves elected." -- John Danforth (R-Mo)
"These 12 corporations together cover the whole country and monopolize and use for private gain every dollar of the public currency..." -- Mr. Crozier of Cincinnati, before Senate Banking and Currency Committee - 1913
"The [Federal Reserve Act] as it stands seems to me to open the way to a vast inflation of the
currency… I do not like to think that any law can be passed that will make it possible to submerge
the gold standard in a flood of irredeemable paper currency.” — Senator Henry Cabot Lodge Sr., 1913
Ron Paul on the Federal Reserve
“From now on, depressions will be scientifically created.” — Congressman Charles A. Lindbergh Sr. , 1913
“I believe that banking institutions are more dangerous to our liberties than standing armies.
Already they have raised up a monied aristocracy that has set the government at defiance. The
issuing power (of money) should be taken away from the banks and restored to the people to
whom it properly belongs.”–Thomas Jefferson, U.S. President.
“If Congress has the right [it doesn't] to issue paper money [currency], it was given to them to be
used by…[the government] and not to be delegated to individuals or corporations” — President
Andrew Jackson, Vetoed Bank Bill of 1836
In 1836 President Jackson, said after attempts to renew the federal bank charter “The bold effort the present bank had made to control the government are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it.” (we now have another one like it)
Andrew Jackson also said, when speaking to the bankers: “You are a den of vipers and thieves. I intend to rout you out, and by the eternal God I will rout you out.”
When speaking to his closest friend, Martin Van Buren, Jackson said, “The bank, is trying to kill me, but I will kill it!”
Before his death Andrew Jackson is asked what he regarded his as greatest achievement. He replies without hesitation, “I Killed The Bank,”
And he did, however, the beast would rear its ugly head again just before the start of the World War I . Was that an accident or a meaningful coincidence? To get a better handle on the workings of government lets hear what President Franklin D. Roosevelt had to say about Government actions and intent.
Don’t forget what I discovered that over ninety percent of all national deficits from 1921 to 1939 were caused by payments for past, present, and future wars.
–Franklin D. Roosevelt
In politics, nothing happens by accident. If it happens, you can bet it was planned that way.–Franklin D. Roosevelt
“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it’s issuance”. — James Madison
“Whoever controls the volume of money in any country is absolute master of all industry and commerce.” — James A. Garfield, President of the United States
“A great industrial nation is controlled by it’s system of credit. Our system of credit is concentrated 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 world–no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men.” –President Woodrow Wilson
There is widespread belief that President John F. Kennedy was killed because of his intent to dismantle the Federal Reserve. Once we understand the power, reach and history of the Banking Cartel it is not difficult to imagine that none would be more willing and motivated to carry out the assassination of an American President than the Banking Cartel. The following video is of a speech JFK. The speech gives insight into his plans to expose the parasite known as the Federal Reserve.
JFK talks about Exposing the Greatest Menace to Mankind and the Planet
“All the perplexities, confusion and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation.”–John Adams, letter to Thomas Jefferson
“To expose a 15 Trillion dollar rip-off of the American people by the stockholders of the 1000 largest corporations over the last 100 years will be a tall order of business.” — Buckminster Fuller
“Every Congressman, every Senator knows precisely what causes inflation…but can’t, [won't]
support the drastic reforms to stop it [repeal of the Federal Reserve Act] because it could cost him his job.” — Robert A. Heinlein, Expanded Universe
“…the increase in the assets of the Federal Reserve banks from 143 million dollars in 1913 to 45 billion dollars in 1949 went directly to the private stockholders of the [federal reserve] banks.” — Eustace Mullins
“As soon as Mr. Roosevelt took office, the Federal Reserve began to buy government securities at the rate of ten million dollars a week for 10 weeks, and created one hundred million dollars in new [checkbook] currency, which alleviated the critical famine of money and credit, and the factories started hiring people again.” – Eustace Mullins
“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. Banks can in fact inflate, mint and un-mint the modern ledger-entry currency”.- MAJOR L .L. B. ANGUS:
“While boasting of our noble deeds were 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 editor and founder of the Liberal Republican Party, a reformer, and a politician. His New York Tribune was America’s most influential newspaper from the 1840s to the 1870s and “established Greeley’s reputation as the greatest editor of his day.
“People who will not turn a shovel full of dirt on the project (Muscle Shoals Dam) nor contribute a pound of material, will collect more money from the United States than will the People who supply all the material and do all the work. This is the terrible thing about interest …But here is the point: If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also.
The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Constitution pays nobody but those who contribute in some useful way.
It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People. If the currency issued by the People were no good, then the bonds would be no good, either.
It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges at the hands of men who control the fictitious value of gold. Interest is the invention of Satan”. – THOMAS A. EDISON, American Inventor
“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 principal 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.”–
Taken from the Civil Servants’ Year Book, “The Organizer” January 1934.
The Money Power! It is the greatest power on earth; and it is arrayed against Labour. No other power that is or ever was can be named with it…it attacks us through the Press – a monster with a thousand lying tongues, a beast surpassing in foulness any conceived by the mythology that invented dragons, were wolves, harpies, ghouls and vampires.
It thunders against us from innumerable platforms and ,Yes, so far as we are concerned, the headquarters of the Money Power is Britain. But the Money Power is not a British institution; it is cosmopolitan. It is of no nationality, but of all nationalities. It dominates the world. The Money Power has corrupted the faculties of the human soul, and tampered with the sanity of the human intellect … Editorial from 1907 edition of The Brisbane Worker (Australia)
…I am convinced that the agreement [Bretton Woods] will enthrone a world dictatorship of private finance more complete and terrible than and Hitlerite dream. t offers no solution of world problems, but quite blatantly sets up controls which will reduce the smaller nations to vassal states and make every government the mouthpiece and tool of International Finance.
It will undermine and destroy the democratic institutions of this country – in fact as effectively as ever the Fascist forces could have done – pervert and paganise our Christian ideals; and will undoubtedly present a new menace, endangering world peace. World collaboration of private financial interests can only mean mass unemployment, slavery, misery, degradation and financial destruction. Therefore, as freedom loving Australians we should reject this infamous proposal. — Labor Minister of Australia, Eddie Ward, during the inception of the World Bank and Bretton Woods, he gave this warning.
Money, Banking and the Federal Reserve
“It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” — Henry Ford, Founder of the Ford Motor Company
The Masters and Architects of the Financial Universe
Rothschild Coat of arms
Benjamin Disraeli, an Ashkenazi Jew (who would go on to become British Prime Minister twice – the only admitted Ashkenazi Jew to do so) publishes Coningsby, in which he characterises Nathan Mayer Rothschild as,
“the Lord and Master of the money markets of the world, and of course virtually Lord and Master of everything else. He literally held the revenues of Southern Italy in pawn, and Monarchs and Ministers of all countries courted his advice and were guided by his suggestions.”
“The few who understand the system, will either be so interested from it’s profits or so dependant on it’s favors, that there will be no opposition from that class.” — Rothschild Brothers of London, 1863
“Give me control of a nation’s money and I care not who makes it’s laws” — Mayer Amschel Bauer Rothschild
How the Rothschild’s Conquered Great Britain
“I care not what puppet is placed upon the throne of England to rule the Empire on which the sun never sets. The man who controls Britain’s money supply controls the British Empire, and I control the British money supply.” — Nathan Mayer Rothschild 1815
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