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Economists continually try and sell the public the idea
that recessions or depressions are a natural part of what they call
the “business cycle”.
This timeline below will prove that is simply not
the case. Recessions and depressions only occur because the Central
Bankers manipulate the money supply, to ensure more and more is in
their hands and less and less is in the hands of the people.
Central Bankers developed out of money changers and it is with these people we pick the story up in 48 B.C. below.
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| 48 B.C. |
Julius Caesar took back from the money changers the power to coin
money and then minted coins for the benefit of all. With this new,
plentiful supply of money, he established many massive construction
projects and built great public works. By making money plentiful, Caesar
won the love of the common people.
But the money changers hated him for it and this is why Caesar was
assassinated. Immediately after his 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 people losing their lands and homes.
|
| 30 A.D. |
Jesus Christ in the last year of his life uses physical force to
throw the money changers out of the temple. This was the only time
during the the life of his ministry in which he used physical force
against anyone.
When Jews came to Jerusalem to pay their Temple tax, they could only
pay it with a special coin, the half-shekel. This was a half-ounce of
pure silver, about the size of a quarter. It was the only coin at that
time which was pure silver and of assured weight, 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, the money changers had
cornered the market on them, and so they raised the price of them to
whatever the market could bear. They used their monopoly they had on
these coins to make exorbitant profits, forcing the Jews to pay
whatever these money changers demanded.
Jesus threw the money changers out as their monopoly on these
coins totally violated the sanctity of God's house. These money
changers called for his death days later. |
| 1024 |
The money changers had control of Medieval England's money supply
and at this time were generally known as goldsmiths. Paper money
started out and this was simply a receipt you would get after
depositing gold with a goldsmith, in their safe rooms or vaults. This
paper started being traded as it was far more convenient than carrying
round a lot of heavy gold and silver coins.
Over time, to simplify the process, the receipts were made to the
bearer, rather than to the individual depositor, making it readily
transferable without the need for a signature. This, also, broke the
tie to any identifiable deposit of gold.
Eventually the goldsmiths recognized that only a fraction of
depositors ever came in and demanded their gold at any one time, so
they found out how they could cheat on the system. They started to
issue more receipts than they had gold to back those receipts and no
one would be any the wiser. They would loan out these receipts which
were not backed by the gold they had in their depositories and collect
interest on them.
This was the birth of the system we know today as Fractional
Reserve Banking, and like this system of today this meant the
goldsmiths were able to make astronomical amounts of money by loaning
out, what was essentially fraudulent receipts, as they were for gold
the goldsmiths didn't even possess. As they gradually got more
confident they would loan out up to 10 times the amount they had in
their deposits.
To simplify how they made money on this, let's give an example
in which a goldsmith charges the same rate of interest to creditors and
debtors. In this example a goldsmith would pay interest of 6% on gold
you had deposited with them, and then charge 6% interest on money, I
mean fraudulent receipts, you borrowed from them. As they would lend
out ten times what you had deposited with them, whilst they're paying
you 6% interest, they are making 60% interest. This is on your gold.
The goldsmiths also discovered that their control of this
fraudulent money supply gave them control over the economy and the
assets of the people. They exacted their control by rowing the economy
between easy money and tight money.
The way they did this was to make money easy to borrow and
therefore increase the amount of money in circulation, then suddenly
tighten the money supply, taking it out of circulation by making loans
more difficult to get or stopping offering them altogether.
Why did they do this? Simple, because the result would be a
certain percentage of the people being unable to repay their previous
loans, and not having the facility to take out new ones, so they would
go bankrupt and be forced to sell their assets to the goldsmiths for
literally pennies on the dollar.
This is exactly what happens in the world economy of today, but
is referred to with words like, "the business cycle," "boom and bust,"
"recession," and "depression," in order to confuse the population of
the money changers scam. |
| 1100 |
King Henry I succeeds King William II to the throne of
England. During his reign he decided to take the power the money
changers had over the people, and he did this by creating a completely
new form of money that took the form of a stick! This stick was called,
a "talley stick," and ended up being the longest lasting form of
currency, lasting 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
spent into the economy and circulated as money.
It was also one of the most successful money systems 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 would work well in keeping the
power away from the money changers in England. |
| 1225 |
St. Thomas Aquinas is born, the leading theologian of the
Catholic Church who argued that the charging of interest is 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 money was to serve the members of society and to facilitate
the exchange of goods needed to lead a virtuous life. Interest was
contrary to reason and justice because it put an unnecessary burden on
the use of money.
Thus, Church law in Middle Ages Europe forbade the charging of interest on loans and even made it a crime called, "usury." |
| 1509 |
King Henry VIII succeeds King Henry VII to the throne in England.
During his reign he relaxed the laws regarding usury, and and the
money changers did not waste any time in re-asserting themselves over
the population. They quickly made their gold and silver coin system
plentiful again. It is interesting to note that under King Henry VIII
the Church of England separated from Roman Catholicism, whose Church
law prevented the charging of interest on money. |
| 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,
tightened the usury laws again. The money changers were not amused
and in revenge they tightened the money supply by hoarding gold and
silver coins and causing the economy to plummet. |
| 1558 |
Queen Elizabeth I succeeds Queen Mary I, her half sister, to the
throne in England. During her reign, Queen Elizabeth I decided that in
order to wrest control of the money supply she would have to issue her
own gold and silver coins. She did this through the public treasury
and successfully took control of the money supply from the money
changers. |
| 1609 |
The money changers in the Netherlands establish the the first central bank in history, in Amsterdam. |
| 1642 |
Oliver Cromwell is financed by the money changers for the purposes
of fomenting a revolution in England, and allowing them to take
control of the money system again. After much bloodshed, Cromwell
finally purges the parliament, overthrows King Charles I and puts him
to death in 1649.
The money changers immediately consolidate their power and for the
next few decades plunge Great Britain into a costly series of wars.
They also take over a square mile of property in the center of London
which becomes known as the City of London. |
| 1688 |
The money changers in England following a series of squabbles with
the Stuart Kings, Charles II (1660 - 1685) and James II (1685 - 1688),
conspire with their far more successful money changing counterparts in
the Netherlands, who had already set up a central bank there.
They decide to finance an invasion by William of Orange of
Netherlands who they sound out and establish will be more favorable to
them. The invasion is successful and William of Orange ascends to the
throne in England as King William III in 1689. |
| 1694 |
Following a costly series of wars over the last 50 years, English
Government officials go, cap in hand, to the money changers for loans
necessary to pursue their political purposes. The money changers agree
to solve this problem in exchange for a government sanctioned
privately owned bank which could issue money created out of nothing.
This was deceptively named the, "Bank of England," for the sole
purpose of duping the general public into believing it was part of the
government, which it was not.
Like any other private 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 bank, but only £750,000 was ever received. Despite that
the bank was duly chartered and began loaning out several times the
money it supposedly had in reserves, all at interest.
Although the Bank of England's private investors were never revealed, one of the Directors, William Paterson, stated,
"The Bank hath benefit of interest on all monies which it creates out of nothing.”
Furthermore the Bank of England would loan government officials as
much of the new currency as they wanted, as long as they secured the
debt by direct taxation of the British people. The Bank of England
amounted to nothing less than the legal counterfeiting of a national
currency for private gain, and thus any country that would fall under
the control of a private bank would amount to nothing more than a
plutocracy.
Soon after the Bank of England was formed it attacked the talley
stick system, as it was money outside of the power of the money
changers, just as King Henry I had intended it to be. |
| 1698 |
Following four years of the Bank of England, their plan to control
the money supply had come on in leaps and bounds. They had flooded
the country with so much money that the Government debt to the Bank had
grown from the initial £1,250,000, to £16,000,000, in only four
years. That's an increase of 1,280%.
Why do they do it? Simple, if the money in circulation in a country
is £5,000,000, and a central bank is set up and prints another
£15,000,000, stage one of the plan, sends it out into the economy
through loans etc, than this will reduce the value of the initial
£5,000,000 in circulation before the bank was formed. This is because
the initial £5,000,000 is now only 25% of the economy. It will also
give the bank control of 75% of the money in circulation with the
£15,000,000 they sent out into the economy.
This also causes inflation which is the reduction in worth of
money borne by the common person, due to the economy being flooded with
too much money, an economy which the Central Bank are responsible for.
As the common person's money is worth less, he has to go to the bank
to get a loan to help run his business etc, and when the Central Bank
are satisfied there are enough people with debt out there, the bank
will tighten the supply of money by not offering loans. This is stage
two of the plan.
Stage three, is sitting back and waiting for the debtors to them
to go bankrupt, allowing the bank to then seize from them real wealth,
businesses and property etc, for pennies on the dollar. Inflation
never effects a central bank in fact they are the only group who can
benefit from it, as if they are ever short of money they can simply
print more. |
| 1757 |
Benjamin Franklin travels to England and would spend the next 18
years of his life there until just before the start of the American
Revolution. |
| 1760 |
Mayer Amschel Bauer changes him name to Mayer Amschel Rothschild and sets up the, House Of Rothschild,
and soon learns that if he loans out money to Governments and Royalty
then this is far more profitable than loaning to individuals. This is
because the loans made are bigger and backed by their nations' taxes.
He trains his five sons in the art of money creation. |
| 1764 |
Benjamin Franklin is asked by officials of the Bank of England
to explain the prosperity of the colonies in America. He replies,
"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 no one."
As a result of Franklin's statement, the British Parliament
hurriedly passed the Currency Act of 1764. This prohibited colonial
officials from issuing their own money and ordered them to pay all
future taxes in gold or silver coins. Referring to after this act was
passed, Franklin would state the following in his autobiography,
"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."
Control of America's money system will change hands 8 times since 1764. |
| 1775 |
April 19th, start of the revolutionary war in Lexington,
Massachusetts. By this time the colonies had been drained of silver
and gold coins as a result of British taxation. As a result of this,
the continental government had 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. An example of this is
that a pair of shoes now sold for $5,000 dollars. This also shows the
danger of printing too much money. The reason Colonial Scrip had
worked was because just enough was used to facilitate trade. |
| 1781 |
Towards the end of the American Revolution the Continental
Congress were desperate for money, 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.
Morris was a wealthy man who 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.
It 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's charter called for private investors to put up
$400,000 of initial capital, which Morris found himself unable to
raise. Nevertheless he unashamedly used his political influence to
have gold deposited in the bank, which had been loaned to America by
France. Morris then loaned the money he needed to buy this bank from
this deposit of gold that belonged to the government, or rather 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. |
| 1785 |
Despite the promises of Robert Morris that his privately owned
Bank of North America would solve the problem with the money supply, of
course the economy continued to plummet, forcing the Continental
Congress not to renew the bank's charter. The leader of the effort to
kill this bank was William Findlay of Pennsylvania, who stated,
"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."
Mayer Amschel Rothschild moves his family home to a
five storey home in Frankfurt, Germany, which he shares with the Schiff
family, (a descendant of both Rothschild and Schiff, Jacob Schiff, who
would be born in this house, would, some 128 years later, be
instrumental in the setting up of the Federal Reserve). |
| 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
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.
Fortunately 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. Thomas
Jefferson was also against it, and Jefferson later made the following
statement,
"If the American people ever allow private banks to control the
issue of their currency, first by inflation, then by deflation, the
banks and the corporations which grow up around them will deprive the
people of all property until their children wake up homeless on the
continent their fathers conquered."
Sadly the words of wisdom of Governor Morris and Thomas Jefferson
fell on deaf ears. Alexander Hamilton, Robert Morris and Thomas
Wyling, convinced the 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 also had short memories and didn't remember how well
Colonial Scrip had worked before the war, or Benjamin Franklin's words
of wisdom in 1764.
As a result the Constitution was silent on the issue of paper
money by the Government for the citizens, leaving a wide open door for
money changers in the future. |
| 1790 |
Less than 3 years after the Constitution had been signed, the
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." |
| 1791 |
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. Robert Morris
controlled it, Thomas Willing was the Bank's President, only the name
had changed.
This bank came into being after a year of intense debate and was
given a 20 year charter. It 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, but this was not to give it a piece if the action, 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 amount for their
shares. What happened was 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 its 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. 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." |
| 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
the country 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."
|
| 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 a money
changers there. |
| 1800 |
In France, the Bank of France was set up. However Napoleon
decided France had to break free of the debt and he therefore never
trusted this bank. He declared that when a government is dependent on
bankers for money, it is the bankers and not the government leaders
that are in control. He stated,
"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."
|
| 1803 |
Now President Thomas Jefferson, President Jefferson struck a deal
with Napoleon in France. The United States would give Napoleon
$3,000,000 of gold in exchange for a huge chunk of territory west of
the Mississippi River. This was called the Louisiana purchase.
Napoleon used this gold to put together an army. He then used this
army to set off across Europe where he began to conquer everything in
his path. The Bank of England quickly rose to oppose Napoleon and
financed every nation in his path, as usual profiteering from war.
Prussia, Austria, and then finally Russia all went heavily into debt in
a futile attempt to stop Napoleon. |
| 1807 |
30 year old Nathan Rothschild, head of the English branch of the
family in London, personally takes charge of a plan to smuggle a much
needed shipment of gold through France to Spain to finance an attack by
the Duke Of Wellington on Napoleon, from there. |
| 1811 |
A bill was 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 attack the bank calling it: a great swindle; a
vulture; a viper; and a cobra.
Nathan Rothschild gets in on the act and makes the following
revealing statement as to who was really behind the First Bank of the
United States,
“Either the application for renewal of the charter is granted, or
the United States will find itself involved in a most disastrous war.”
When the smoke had cleared the renewal bill was
cleared by a single vote in the house and was deadlocked in the
Senate. At this point America's fourth President, President James
Madison was in the White House. He was a staunch opponent of the bank
and he sent his Vice-President, George Clinton, to break a tie in the
Senate which killed the bank. |
| 1812 |
As promised by Nathan Rothschild, because the charter for the
First Bank of the United States is not renewed, thousands have to die
and the British attack America. However, as the British are still busy
fighting Napoleon, they are unable to mount much of an assault and the
war ends in 1814 with America undefeated. |
| 1814 |
Wellington's attacks from the South and other defeats eventually
forced Napoleon to abdicate and Louis XVIII is crowned King. Napoleon
is exiled to the tiny island of Elba, off the coast of Italy. |
| 1815 |
Napoleon escapes his exile and returns to Paris. French troops
were sent to capture him, but he uses his charisma to convince these
soldiers to rally round him, and they subsequently hail him as their
emperor once again. In March, Napoleon assembles an army which
England's Duke of Wellington defeated less than 90 days later at
Waterloo.
Even though the outcome is predetermined, these bankers don't like
to take any sort of risk, they're too used to a monopoly. Therefore
Nathan Rothschild sent a trusted courier named Rothworth to Waterloo
where he stayed on the edge of the battlefield. Once the battle was
decided, Rothworth took off for the Channel, and delivered the news of
Wellington's victory to Nathan Rothschild a full 24 hours before
Wellington's own courier.
Nathan Rothschild hurried to the London Stock market and stood in
his usual position. All eyes were on him as Rothschild had a legendary
communications network. Rothschild stood there looking forlorn and
suddenly started selling. The other traders believed that this meant
he had heard that Napoleon had won so they all started selling
frantically.
The market subsequently plummeted, soon everyone was selling
their consuls (British Government Bonds), but then 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 were able to be converted to Bank of England stock, which is
how Rothschild took over the control of the Bank of England and
therefore the British money supply.
Interestingly, 100 years later, the New York Times ran a story
stating that Nathan Rothschild's grandson had attempted to secure a
court order to suppress a book with this, what we would call today,
"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 Rothschild openly brags 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 bankers want war? Simple, bankers finance
both sides in a war. They do this because war is the biggest debt
generator of them all. A nation will borrow any amount for victory,
even though the banks have already predetermined 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.
How do the banks ensure they will get all their money back? Easy,
such 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 it is for the honor of their respective
nations, when it is actually for the profits of bankers.
In fact, during the period between the founding of the Bank of
England in 1694 and Napoleon's defeat at Waterloo this year, England
had been at war for 56 years, with much of the remaining time spent
preparing for war. If it's a good business for bankers' profits, then
why change it. |
| 1816 |
The American Congress passes a bill permitting yet another
privately owned central bank. This bank was called the, "Second Bank
of the United States," and it's charter was a carbon copy of that 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 bank and thanks to
fraudulent fractional reserve lending, this was 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 was kept a
secret. |
| 1826 |
The talley stick is taken out of circulation in England. |
| 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 their own money grabbing ends, the
American people had unsurprisingly had enough. Opponents of this bank
nominated Senator Andrew Jackson of Tennessee to run for President.
To the dismay of the money changers, Jackson won the Presidency
and made it quite clear he intended to kill this bank at his first
opportunity. He started out during his first term in office, to root
out the banks many minions from government service. To illustrate how
deep this cancer was rooted in government, he fired 2,000 of the 11,000
employees of the Federal Government. |
| 1832 |
The Second Bank of the United States, ask Congress to pass a
renewal of the bank's charter, four years early. Congress complied and
sent the bill to President Jackson for signing. President Jackson
vetoed this 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 out 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 moneys, 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 was unable to override President Jackson's veto.
President 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!"
Even though the bankers poured over $3,000,000 into President
Jackson's opponent, the Republican, Senator Henry Clays' campaign,
President Jackson was re-elected by a landslide in November. President
Jackson knew the battle was only beginning however, and following his
victory he stated,
"The hydra of corruption is only scotched, not dead!"
|
| 1833 |
President 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. President Jackson's
previous two Secretaries of State for the Treasury, William J. Duane
and Louis McLane had both refused to comply with President Jackson's
request and were fired as a result.
However the head of the, Second Bank of the United States, Nicholas
Biddle, used his influence to get the Senate to reject Roger B. Taney's
nomination and even threatened to cause a depression if the Bank was
not re-chartered. Biddle stated,
"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."
Biddle then went on to brazenly admit that the bank was intending to
make money scarce in order to force the hand of Congress into
re-chartering the bank. He stated,
"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."
What Biddle has done with that statement is prove to the world what
central banks were really about. He made good on his word, and the
Second Bank of the United States, sharply contracted 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 deep
depression.
Biddle then unashamedly blamed President Jackson for the crash,
claiming that it was Jackson's withdrawal of federal funds that had
caused it. This crash plunged wages and prices, unemployment soared
along with business bankruptcies. The United States was in uproar and
newspaper editors blasted the President in editorials. |
| 1835 |
Congress assembled what was called the, "Panic Session," and on
27 March President 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 Jackson stated of the Bank,
"You are a den of thieves vipers, and I intend to rout you out, and by the Eternal God, I will rout you out."
However, Pennsylvania Governor, George Wolf, came out in support of
President Jackson and strongly criticized the Bank. 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 President Jackson's action.
In a complete about turn on April 4, the House of Representatives
voted 134 to 82 against re-chartering the bank. This was followed by
another strong vote which established a special committee to
investigate whether the Bank 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. He also refused to testify before
the committee back in Washington. |
| 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. He was tried and acquitted
but died in 1844 still battling civil suits. |
| 1838 |
On January 8th President Jackson pays off the final installment of
the national debt, which had been necessitated by allowing the banks
to issue currency for government bonds, rather than simply issuing
treasury notes without such debt. He was the only President to ever
pay off the debt.
On January 30th an assassin called Richard Lawrence tried to shoot
President Jackson, but both pistols misfired. Lawrence was later
found not guilty by reason of insanity. However, after his release he
openly bragged that powerful people in Europe had put him up to the
task and promised to protect him if he were caught.
When asked what his most important accomplishment had been in life, President Jackson stated without hesitation,
"I killed the Bank!"
It would take the money changers 75 years to establish
the next central bank, the Federal Reserve. This time they would take
no chances and use one of their own, Jacob Schiff, from the Rothschild
bloodline, to undertake this. |
| 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. |
| 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."
|
| 1861 |
One month after the inauguration of President 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, as President
Lincoln himself stated,
"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."
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. Thus the South
were being forced to pay more for goods whilst having their income
slashed.
This is when the money changers saw the opportunity to divide and
conquer America by plunging it into Civil War. This is confirmed by
Otto Von Bismarck when he was Chancellor of Germany (1871 - 1890), who
stated,
"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."
Only months after these first shots in South Carolina, the Central
bankers loaned, Napoleon III of France (the Napoleon of the battle of
Waterloo's nephew), 210 million francs to seize Mexico and then 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. This doctrine proclaimed the
United States' opinion that European powers should no longer colonize
the Americas or interfere with the affairs of sovereign nations located
in the Americas, such as the United States, Mexico, and others.
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 U.S. would view such action as hostile toward itself.
Whilst the French were breaching the, Monroe Doctrine in Mexico, the
British followed suit by moving 11,000 troops into Canada and
positioning them along America's Northern border. President Lincoln
knew he was in trouble, so he went with his Secretary To The Treasury,
Salomon P. Chase, to New York to apply for the loans necessary to fund
America's defense.
The money changers had engineered the war to make the Union
fail, and were not about to save it now, so they offered loans at 24%
to 36% interest. President Lincoln declined this as they knew he would
and returned to Washington, where he sent for Colonel Dick Taylor of
Chicago, who he put in charge of the problem of how he should finance
the war.
During one meeting President Lincoln asked Colonel Taylor what
proposals he had come up with to finance the war. Colonel Taylor
stated,
"Why Lincoln, that is easy, just get Congress to pass a bill
authorizing the printing of full legal tender treasury notes...and pay
your soldiers with them and go ahead and win your war with them also."
President Lincoln asked Colonel Taylor if the people of the United States would accept the notes, Colonel Taylor said,
"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."
|
| 1862 |
President Lincoln 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." These were printed at no interest to the Federal
Government and were used to pay the troops and purchase their
supplies. President Lincoln would be the last President to issue debt
free United States notes, and on this subject he stated,
"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 consumers. 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."
In response to this statement, The Times of London publishes a
propaganda piece obviously put out by the bankers, containing the
following statement,
"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."
|
| 1863 |
The bankers struck back. With President Lincoln needing further
congressional authority to issue more Greenbacks, Lincoln was forced
into allowing the bankers to push their, "National Banking Act,"
through Congress.
The most important part of this 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
for reserves for banknotes. On top of this monopoly, the National
Banks were allowed to operate under a virtual tax free status. This
banking scam is best explained by historian, John Kenneth Galbraith,
who stated,
"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."
Later this year, Tsar Alexander II gave President Lincoln some
unexpected help. The Tsar issued orders that if either England or
France actively intervened in the American Civil War, and help the
South, Russia would consider such action a declaration of war. To show
that he wasn't messing about, he sent part of his Pacific Fleet to
port in San Francisco.
This wasn't because the Tsar was benevolent towards America,
instead he was very clever. He, like Otto Von Bismarck in Germany,
could clearly see what the money changers were up to, indeed he had
already refused to let them set up a Central Bank in Russia. He
understood if America was to come under the control of Britain or
France, then America would be under the control of Central Bankers once
again, and such an expansion of the bankers empire, would mean they
would eventually threaten Russia. |
| 1864 |
President Lincoln is re-elected on November 8th and on November 21 he 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 President 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."
|
| 1865 |
On April 14th, 41 days after his second inauguration, and just 5
days after General Lee surrendered to General Grant at Appomattox,
President Lincoln is shot by John Wilkes Booth, at Ford's Theater. He
would later die of his injuries. Subsequent allegations that
international bankers were responsible for President Lincoln's
assassination, would be made in the Canadian House of Commons, nearly
70 years later in 1934.
The person who revealed this was a Canadian Attorney, Gerald G.
McGeer. He 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. McGeer stated that it showed that John
Wilkes Booth was a mercenary working for the international bankers.
His speech would be reported in an article in the Vancouver Sun, dated,
2nd May 1934, which stated,
"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 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 also stated that Lincoln's assassination was not
purely because the International Bankers wanted to re-establish a
central bank in America, but also because they wanted to base America's
currency on gold, which they of course controlled. They wanted to put
America on a Gold Standard. This was in direct opposition to
President Lincoln's policy of issuing Greenbacks, based solely on the
good faith and credit of the United States.
The Vancouver Sun article also quoted Gerald G. McGeer with the following statement,
"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 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 Lincoln's assassination, silver was
demonetized and the Gold Standard system set up in the United States."
|
| 1866 |
The European central bankers wanted the re-institution of a
central bank under their control and an American currency backed by
gold. They chose gold as gold has always been relatively scarce and
therefore a lot easier to monopolize, than, for example, silver, which
was plentiful in the United States, and had been found in huge
quantities with the opening of the American West.
So, on April 12th, Congress went back to work at the bidding of the
European central bankers. It passed the, "Contraction Act," which
authorized the Secretary of the Treasury to contract the money supply by
retiring some of the Greenbacks in circulation.
This money contraction and it's disastrous results is explained
by Theodore R. Thoren and Richard F. Walker, in their book, "The Truth
In Money Book," in which they state the following,
"The hard times which occurred after the Civil War could have been
avoided if the Greenback legislation had continued as President 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. Eventually the
Federal Reserve Act was passed on December 23rd 1913."
This is how the, "Contraction Act," passed by Congress
affected America (the money supply goes down purely because currency
in circulation is being withdrawn):
| Year |
In circulation |
Approximately per capita |
| 1866 |
$1,800,000,000 |
$50.46 |
| 1867 |
$1,300,000,000 |
$44.00 |
| 1876 |
$600,000,000 |
$14.60 |
| 1886 |
$400,000,000 |
$6.67 |
Therefore in the twenty years since 1866 two thirds of the American
money supply had been called in by the bankers, representing a 760%
loss in buying power over this twenty years. The money became scarce
simply because bank loans were called in and no new ones were given. |
| 1872 |
Ernest Seyd is sent to America on a mission from the Rothschild
owned Bank of England. He is given $100,000 which he is to use to
bribe as many Congressmen as necessary, for the purposes of getting
silver demonetized, as it had been found in huge quantities in the
American West, which would eat into Rothschild's profits. |
| 1873 |
Ernest Seyd obviously spent his money wisely, as Congress pass
the, "Coinage Act," which results in the minting of silver dollars
being abruptly stopped. Furthermore, Representative Samuel Hooper, who
introduced the bill in the house, even admitted that Ernest Seyd had
actually drafted the legislation. |
| 1874 |
Ernest Seyd himself admitted who was behind the demonetizing of silver in America, when he makes the following statement,
"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."
|
| 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 clearly understood that the national bankers were
the cause of the problem, with their deliberate contraction of the
money supply. An excerpt of their report reads as follows,
"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..."
Despite this damning report from the commission, Congress took no action. |
| 1877 |
Rioting breaks out from Pittsburgh to Chicago. The bankers get
together to decide what to do and they decided to hang on, as they knew
that despite the violence, they were 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, even wrote a
letter to the members in which he blatantly called on the banks to
subvert both Congress and the press. In this letter he stated,
"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."
|
| 1878 |
James Buel's letter clearly had some effect, as although
pressure mounted in Congress for change, the press tried to turn the
general public away from the truth. An example of this is from the New
York Tribune in their 10th January edition in which is stated in a
bankers propaganda piece,
"The capital of the country is organized at last and we will see whether Congress will dare to fly in its face."
This early control of the media didn't work entirely nevertheless,
as on February 28th 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.
However, this Sherman Law did ensure that some money began to flow
into the economy again, and coupled with the fact that the bankers now
realized that they were still firmly in control, they started issuing
loans again and the post Civil War depression was finally over. |
| 1881 |
The American people elect the Republican, James Garfield as the
20th President of the United States. This was a worry to the money
changers, because as a Congressman, he had been Chairman of the
Appropriations Committee, and was a member of Banking and Currency.
The money changers were therefore aware that President Garfield was in
full knowledge of their scam on the American people. Indeed following
his inauguration, President Garfield stated,
"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."
Strangely enough within a few weeks of making that statement, President Garfield was assassinated on 2nd July. |
| 1891 |
The money changers spent the last decade creating economic
booms followed by depressions, so that they could buy up thousands of
homes and farms for pennies on the dollar. They were preparing to take
the economy down again in the near future, and in a shocking memo sent
out by the American Bankers Association, which would come out in the
Congressional Record more than twenty years later, the following is
stated,
"On September 1st 1894 we will not renew our loans under any consideration. On September 1st we will demand our money.
We will foreclose and become mortgages in possession. We can take
two-thirds of the farms west of the Mississippi, and thousands of them
east of the Mississippi as well, at our own price...Then the farmers
will become tenants as in England...,"
1891 American Bankers Association, as printed in the Congressional Record of April 29, 1913. |
| 1896 |
The central issue in the Presidential campaign is the issue of
more silver money. Senator William Jennings Bryan from Nebraska, a
Democrat aged only 36, makes an emotional speech at the Democratic
National Convention in Chicago, entitled, "Crown Of Thorns And Cross Of
Gold." Senator Bryan stated,
"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."
The bankers naturally supported the Republican candidate, William
McKinley who in return favored the gold standard. Furthermore those in
the McKinley campaign, got manufacturers and industrialists to inform
their employees that if Bryan were elected, all factories and plants
would close and there would be no work.
This tactic succeeded, McKinley beat Bryan, albeit by a small margin. |
| 1898 |
Pope Leo XIII stated the following on the subject of usury,
"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."
|
|
1907
| During the early 1900's, the money changers were anxious
to advance their business of setting up another private Central Bank for
America. Rothschild, Jacob Schiff, the head of Kuhn, Loeb and Co.,
in a speech to the New York Chamber of Commerce, stated, or rather
threatened,
“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.”
They put Rothschild agent, J. P. Morgan at the forefront of their
charge. Interestingly J. P. Morgan's father, Julius Morgan, had been
America's financial agent to the British, and after Julius' death, J.
P. Morgan took on a British partner, Edward Grenville, who was a long
time director of the Bank Of England.
This year was the year of the money changers attack. J. P. Morgan
and his cohorts secretly crashed the stock market. They were aware
that thousands of small banks were so vastly over extended, some only
had reserves of 1% under the fraudulent fractional reserve principle.
Within only a few days, bank runs became commonplace across the nation.
Morgan then stepped up and publicly announced that he would
support these failing banks. What he failed to mention is that he
would do this by manufacturing money out of nothing. And then what
happened, surprise, surprise, Congress let him do it! So, Morgan
manufactured $200,000,000 of this completely reserveless private money,
purchased goods and services with it, and sent some of it to his
branch banks to lend out at interest.
As a result, the general public regained confidence in money,
but most importantly it meant the banking power was now further
consolidated into the hands of a few large banks. |
| 1908 |
With the widespread financial panic over, J. P. Morgan was
hailed as a hero by the then President of Princeton University, Woodrow
Wilson, who even crassly or arrogantly stated,
"All this trouble could be averted if we appointed a committee of
six or seven public spirited men like J. P. Morgan, to handle the
affairs of our country."
President Theodore Roosevelt had also signed into law, following the
financial panic, a bill creating the, "National Monetary Commission."
This commission was supposed to study the banking problem and make
recommendations to Congress. Naturally, the commission was packed with
J. P. Morgan's friends and cronies.
The chairman was Senator Nelson Aldrich from Rhode Island, and he
represented the Newport Rhode Island homes of America's richest banking
families. His daughter 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).
Following the setting up of this National Monetary Commission,
Senator Aldrich immediately embarked on a 2 year fact finding tour of
Europe, where he consulted at length with the private 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?
$300,000. Yes, three hundred thousand dollars, that is not a misprint!
|
| 1910 |
Senator Aldrich returns from his two year European fact finding
mission on 22nd November. Shortly afterwards some of America's most
wealthy and powerful men boarded Senator Aldrich's private railcar in
the strictest secrecy. They journeyed to Jekyll Island off the coast
of Georgia.
In this group were Paul Warburg, who was earning a $500,000 a year
salary from Rothschild owned firm, Kuhn, Loeb & Company. This
salary was for him to lobby for a privately owned central bank in
America. Also present was Jacob Schiff, a Rothschild who had purchased
Kuhn, Loeb and Company shortly after he arrived in America from
England.
The Rothschilds, Warburgs and Schiffs, interconnected by marriage, were essentially the same family.
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. Other problems for these bankers were that the market share of
these big national banks was shrinking fast. In the first ten years
of the century the number of United States banks had more than doubled
to over 20,000. By 1913 only 29% of all banks were national banks and
they held only 57% of all deposits. As John D. Rockefeller put it,
"Competition is Sin!"
Senator Aldrich later admitted in a magazine article,
"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."
So one of the aims of these conspirators was to bring these new
banks under their control. Secondly the nations 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.
Basically, American Industry was becoming independent of the
money changers, and the money changers were not about to let that
happen.
There was also much discussion regarding the name of the new
bank, which took place in a conference room in the Jekyll Island Club
Hotel. Aldrich believed the word, "bank," should not even appear in
the name. Warburg wanted to call the legislation, the, "National
Reserve Bill," or the, "Federal Reserve Bill." The idea was not only
to give the impression that the purpose of the new central bank was to
stop bank runs, but also to conceal its monopoly character.
However it was Senator Aldrich, the egomaniac, who insisted it
be called the, "Aldrich Bill." So, 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 Professors at top
universities to endorse the new bank.
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 out of nothing. Also in order to
make the public think it was under control of the 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.
This would not cause any undue problems for the bankers, as they
knew they could use their money to buy influence over the politicians,
in order to ensure the men they wanted got appointed to the board of
governors. |
| 1912 |
The Aldrich bill is presented to Congress for debate. This was
very quickly identified as a bill to benefit the bankers, or an
expression for them which was coined at the time, "The Money Trust."
During the debate, the Republican, Charles A. Lindbergh stated,
"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."
As this debate continued on, the bankers realized they didn't have
enough support, so the Republican leadership never brought the Aldrich
bill to a vote. Instead the bankers decided to switch their attention
to the Democrats and started heavily financing Woodrow Wilson, the
Democratic Presidential nominee. The Wall Street banker, Bernard
Baruch, was put in charge of the Wilson project, and as historian,
James Perloff, stated,
"Baruch brought Wilson to the Democratic Party headquarters in New
York in 1912, 'leading him like one wood a poodle on a string.' Wilson
received an, 'indoctrination course,' from the leaders convened
there...."
During the Democratic Presidential campaign, Wilson and the rulers
of the Democratic Party pretended to oppose the Aldrich bill. As
Republican representative, Louis T. McFadden, explained twenty years
later, when he was 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 Wilson
administration, under the tutelage of those sinister Wall Street
figures who stood behind Colonel 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."
On November 5th, Woodrow Wilson was elected, and J. P. Morgan, Paul
Warburg, Bernard Baruch et al, advanced a new plan which Warburg called
the Federal Reserve System. The leadership of the Democratic Party
hailed this new bill called the, "Glass-Owen Bill," as totally
different to the Aldrich bill, when in fact it was virtually identical.
Funnily enough 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 bill, had to inform his paid friends
in Congress, that the two bills were virtually identical and therefore
they must vote to pass it. Warburg stated,
"Brushing aside the external differences affecting the, 'shells,'
we find the, 'kernels,' of the two systems very closely resembling and
related to one another."
However this admission by Warburg was not made
public. Instead, Senator Aldrich, and Frank Vanderlip, the President
of Rockefeller's National Citibank of New York, were to publicly state
their opposition to the bill in order to make people think that the
bill proposed was radically different to the Aldrich bill. Indeed,
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."
|
| 1913 |
With Congress nearing a vote on the Glass-Owen Bill, they called
Ohio Attorney, Alfred Crozier, to testify. However, Crozier noticed
the similarities between the Aldrich Bill and the Glass-Owen Bill, and
subsequently stated,
"The...bill grants just what Wall Street and the big banks for
twenty-five years have been striving for - private instead of public
control of currency. It (the Glass-Owen bill) 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 debate on this bill was not going well for the banks, with many
Senators intimating the bill was corrupt and deceitful, however the
bill was approved through the Senate on December 22nd. How did this
happen? Because most of the Senators had left town to return home for
the Christmas holidays. Furthermore, these Senators had been assured by
the leadership, that nothing would be done regarding this bill until
long after the Christmas recess.
Representative Charles A Lindbergh Sr. stated,
"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...The worst legislative
crime of the ages is perpetrated by this banking and currency bill."
Interestingly, only a few weeks earlier, in October, Congress
finally passed a bill legalizing direct income tax of the people. This
was in the form of a bill pushed through by Senator Aldrich, which is
now commonly known as the 16th amendment. The income tax law was
fundamental to the Federal Reserve. This is because the Federal
Reserve was a system which 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, as they had done with 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.
Actually, this 16th amendment was never ratified, and therefore
many American citizens do not pay their income tax and there is nothing
the United States Government can do about it. For further information
on this go to thelawthatneverwas.com
. Also, back in 1895, the Supreme Court had also found an income tax
law similar to the 16th amendment, as unconstitutional. The Supreme
Court also found a Corporate Tax Law unconstitutional in 1909.
Another important amendment that was put through this year is the
17th amendment. This provided for the direct election by the people of
two Senators from each state as oppose to the original system of
having state legislatures elect United States Senators. More
democratic, you would think, until you realize these bankers could now
provide the funds for their hand picked people to run for the Senate,
and thus avoid future problems like getting the Federal Reserve through
the Senate.
Anyway, back to the Federal Reserve, if you are in any doubt as
to whether the Federal Reserve is a private company, a basic check the
public can carry out is in their phone book. Look under the government
pages and it is not listed, but you will find it listed within the
business pages.
Actually some recent evidence has come forward as to who really owns the Federal Reserve, and they are the following banks:
- Rothschild Bank of London
- Warburg Bank of Hamburg
- Rothschild Bank of Berlin
- Lehman Brothers of New York
- Lazard Brothers of Paris
- Kuhn Loeb Bank of New York
- Israel Moses Seif Banks of Italy
- Goldman, Sachs of New York
- Warburg Bank of Amsterdam
- Chase Manhattan Bank of New York
Also some argue that the Federal Reserve is a quasi-governmental
agency, yet the President appoints only 2 of the 7 members of the
Federal Reserve Board of Governors, every four years, and he appoints
them to 14 year terms, which is far longer than any term he could
possibly serve as President. The Senate confirms these appointments,
but as we have seen, that is the idea, because these are the very
people hand picked by the bankers who also finance their campaigns,
ensuring loyalty to them, not the people.
Let's summarize how the Federal Reserve creates money out of nothing. It is a four step process:
- The Federal Open Market Committee approves the purchase of United States Bonds*.
- The bonds are purchased by the Federal Reserve.
- The Federal Reserve pays for these bonds with electronic credits to the seller's bank, these credits are based on nothing.
- The banks use these deposits as reserves. They can loan out over
ten times the amount of their reserves to new borrowers, all at
interest.
* Bonds are simply promises to
pay or Government IOU's. People purchase bonds in order to get a
secure rate of interest. At the end of the term of the bond, the
government repays the bond, plus interest and the bond is destroyed.
Let's look at an example of how this works with a Federal Reserve
purchase of $1,000,000 of bonds. This then gets turned into over
$10,000,000 in bank accounts. The Federal Reserve in effect creates
10% of this totally new $10,000,000 and the banks create the other 90%.
To reduce the amount of money in circulation this process is
simply reversed. The Federal Reserve sells these bonds to the public
and the money flows out of the purchaser's local bank. Loans must be
reduced by ten times the amount of the sale, so a Federal Reserve sale
of $1,000,000 in bonds, results in $10,000,000 less money in the
economy. How does this benefit the bankers, whose representatives met
at Jekyll Island?
- It prevented any future banking reform efforts, as the Federal Reserve was to be the only producer of money.
- This in turn prevented a proper debt free system of government
finance, like President Lincoln's Greenbacks, from making a comeback.
Instead, the bond based system of government finance, forced on Lincoln
after he created Greenbacks, was now cast in stone.
- It delegated to the bankers the right to create 90% of our money
supply based on a fraudulent system of fractional reserve banking and
allowed them to loan out that 90% at interest.
- It centralized overall control of our nations money supply in the hands of and for the profits of a few men.
- It established a private central bank with a high degree of independence from effective political control.
|
| 1914 |
The start of World War I. In this war, 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.
One year after the passage of the Federal Reserve Bill,
Representative Charles A Lindbergh Sr., outlined how The Federal
Reserve created the, "business cycle," and how they manipulated that to
their own advantage. He stated,
"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."
|
| 1915 |
J. P. Morgan became the sales agent for the, "War Materials
Board," to both the British and the French engaged in World War I, and
becomes the biggest consumer on the planet, spending 10 million dollars
a day. Furthermore, President Woodrow Wilson appointed banker,
Bernard Baruch, to head the, "War Industries Board."
According to historian, James Perloff, both Bernard Baruch and the
Rockefellers profited by approximately 200 million dollars during World
War I.
A lot of people believe the key to an effective money supply is
to ensure it is backed by something of worth such as gold. However,
who do you think would control that gold? As Republican, Charles A.
Lindbergh stated this year,
"Already the Federal Reserve Banks have cornered the gold and gold certificates."
|
| 1916 |
President Wilson began to realize the gravity of the damage he
had done to America, by unleashing the Federal Reserve on the American
people. He stated,
"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."
|
| 1917 |
The money changers never forgave the Tsars of Russia for both
continually opposing their request to set up a central bank in Russia,
as well as their support of President Lincoln during the Civil War.
Therefore, Jacob Schiff, a Rothschild, spent 20 million dollars through
his firm, Kuhn, Loeb & Co., in financing the Russian Revolution.
It is commonly believed that Communism is the opposite of
Capitalism, so why would these capitalists support it? Respected
researcher, Gary Allen, explains it as follows,
"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 megalomaniacs. Communism, or more
accurately socialism, is not a movement of the downtrodden masses, but
of the economic elite."
|
| 1919 |
In January the Paris Peace Conference takes place following the
end of World War I. The bankers put World Government at the top of
their agenda, and Paul Warburg and Bernard Baruch attend this
conference with President Wilson. To the bankers dismay, the world was
not yet ready to dissolve national boundaries and accept World
Government, so that part of their plan had 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 bankers had failed and the League
Of Nations died. |
| 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 President Harding reduced taxes
domestically, and increased tariffs on imports to record levels. |
| 1921 |
The Inventor of the electric light, Thomas Edison, said in an article published in the New York Times, on December 6,
"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."
|
| 1922 |
President Theodore Roosevelt who died in 1919 was quoted in the
March 27th edition of the New York Times with the following statement,
"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."
The reason the New York Times ran this article, was due to the Mayor
of New York, John Hylan, who had been reported in the same paper the
previous day, March 26th, with the following statement,
"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 cats paws 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."
|
| 1923 |
On August 2nd, President Warren Harding died on a train in
mysterious circumstances. The cause was given as either food poisoning
or a stroke although no autopsy was performed. He was succeeded by
his Vice-President Calvin Coolidge. President Coolidge continued
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
Harding and 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%.
Representative Charles A Lindbergh Sr. stated,
"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. The system is private, conducted
for the sole purpose of obtaining the greatest possible profits, from
the use of other people's money."
|
| 1924 |
Shortly before his death this year, President Woodrow Wilson
made the following statement in relation to his support for the Federal
Reserve,
"I have unwittingly ruined my country."
|
| 1927 |
In July, in Europe, Bank of England Governor Montagu Norman,
Benjamin Strong of the Federal Reserve Bank, 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.
Republican Congressman, Louis T. McFadden, Chairman of the House
Banking & Currency Committee, from 1920 to 1931, 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."
|
| 1929 |
In April, Paul Warburg sent out a secret warning to his friends
that a collapse and nationwide depression had been planned for later
that year. It is certainly no coincidence that the biographies of all
the Wall Street giants of that era: John D. Rockefeller; J. P. Morgan;
Joseph Kennedy; Bernard Baruch; et al, all marveled at the fact these
people got out of the stock market completely just before the crash and
put their assets into cash or gold.
So, as all the bankers and their friends already knew, in August
the Federal Reserve began to tighten the money supply. Then on 24th
October the big New York bankers called in their 24 hour broker call
loans. This meant that both the stockbrokers and their customers had
to dump their stocks on the stock market to cover their loans,
irrespective of what price they had to sell them for.
As a result of this the stock market crashed on a day that would
go down in history as, "Black Thursday." In his book, The Great Crash
1929, John Kenneth Gailbraith makes the following shocking statement,
"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."
Republican Congressman, Louis T McFadden, Chairman of the House
Banking & Currency Committee, from 1920 to 1931, was as usual quite
candid as to who was responsible. He stated of this crash,
"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."
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."
Despite the claims of how the Federal Reserve would protect the
country against depressions and inflation, they continued to further
contract the money supply. Between 1929 and 1933, they reduced the
money supply by an additional 33%. Even, Milton Friedman, the Nobel
Peace Prize winning economist stated the following in a radio interview
in January 1996,
"The Federal Reserve definitely caused the Great Depression by
contracting the amount of currency in circulation by one-third from
1929 to 1933."
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. An example of
this is Joseph P. Kennedy, John F. Kennedy's father. In 1929 he was
worth 4 million dollars, in 1935 that had increased to over 100 million
dollars.
This is why depressions are caused. As stated previously the
top bankers and their friends 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 these people's hands.
It also was spent overseas, as whilst 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 bankers World War II. Republican Louis T. McFadden, Chairman of the
House Banking & Currency Committee from 1920 to 1931, stated the
following in relation to this,
"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 Adolph 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, 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."
The money pumped in to Germany to build her up in preparation for
World War II, was into the German Thyssen banks which were affiliated
with the Harriman interest in New York. |
| 1930 |
The Bank for International Settlements (BIS) was established by
Charles G. Dawes (Rothschild agent and Vice President under President
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 the bankers as the, "Central bank for the
central banks." Whereas the IMF and the World Bank deal with
governments, the BIS deals only with other central banks. All its
meetings are held in secret and involve the top central bankers from
around the world. For example the former head of the Federal Reserve,
Alan Greenspan, would go to the BIS headquarters in Basel, Switzerland,
ten times a year for these private meetings.
The BIS also has
the status of a sovereign power and is immune from governmental
control. A summary of this immunity is listed below:
- Diplomatic immunity for persons and what they carry with them (i.e., diplomatic pouches).
- No taxation on any transactions, including salaries paid to employees.
- Embassy-type immunity for all buildings and/or offices operated by the BIS worldwide including China and Mexico.
- No oversight or knowledge of operations by any government authority, they are not audited.
- Freedom from immigration restrictions.
- Freedom to encrypt any and all communications of any sort.
- Freedom from any legal jurisdiction, they even have their own police force.
BIS' current board of directors, only five of which are elected and the rest of which are permanent, are:
- 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 F 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
Georgetown Professor and historian, Carroll Quigley, commented on
the creation of this central bank in his 1975 book, Tragedy And Hope,
as follows,
"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 (*), 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."
* Home of first World Zionist Congress, chaired by Theodor Herzl in 1897
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 thought 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. |
| 1932 |
Republican Representative Louis T. McFadden of Pennsylvania,
the Former Chairman of the House Banking & Currency Commission
during the great depression, states,
"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."
In his final year in office, President Herbert Hoover
puts forward a plan to bail out the failing banks, he seemed to feel
that they took priority over millions of starving Americans, however
this plan did not receive support from the Democratic Congress.
Hoover's Presidency failing, Franklin D. Roosevelt is elected President
later this year. |
| 1933 |
On March 4th, during his inaugural address, President 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."
However, later that year, President Roosevelt outlawed 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 Roosevelt was effectively a
confiscation.
In small town America, the people did not trust Roosevelt. However,
the people were given a simple choice. Either turn in your gold and
be paid the official price for it of, $20-66 an ounce, or you will be
liable for a $10,000 fine and a ten year prison sentence.
This confiscation order was so unpopular, it's author has never
been discovered. No Congressman ever claimed having written it,
President Roosevelt stated he had not written it, nor had he even read
it. 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."
I wonder to what, "experts," he refers! |
| 1934 |
In its 20th June 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."
Also in the article was the following words written by Lord Bryce,
"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)."
Louis T. McFadden, Republican Congressman and Chairman of the House Banking & Currency Committee from 1920 to 1931 stated,
"Through the Fed 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 Fed to conceal its powers-but
truth is-the Fed has usurped the Government...the sack of these United
States by the Fed is the greatest crime in history...what King ever
robbed his subject to such an extent as the Fed 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 Fed was passed, the people of these United States did not
perceive that a world system was being set up here ...a super state
controlled by international bankers, and international industrialists
acting together to enslave the world for their own pleasure."
|
|
1935
| All the gold held by American citizens had finally been
turned in under President Roosevelt's 1933 confiscation order at the
price of $20-66 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. Where is the
world price of gold set? Since 1919, in the same room of private bank
N. M. Rothschild & Sons in London, at 11:00 a.m., on a daily
basis.
Therefore Warburg and his banking friends who put their money into
gold at $20-66 before the stock market crash and shipped it to London,
could now ship it back and sell it to the United States Government for
the new higher price. The money changers have a golden rule,
"He who has the gold, makes the rules."
President Roosevelt orders the building of a new gold bullion
depository to hold the vast amount of gold the United States government
had illegally confiscated. That depository was Fort Knox. |
| 1936 |
On October 3, Republican Congressman, Louis T McFadden, Chairman
of the House Banking & Currency Committee, from 1920 to 1931, is
poisoned to death. This was the third assassination attempt on his
life, he had suffered an earlier poisoning and had had shots fired at
him.
He had been trying for years to get the Federal Reserve, and as you
will have read thus far, had made very revealing statements about the
Federal Reserve. He had been warned to back off, but this great
American Patriot, put the people he represented before himself, as all
elected officials are supposed to do, and was killed by the bankers as a
result. |
| 1937 |
With Fort Knox having been completed only the previous year, the gold now began to flow into it. |
| 1938 |
With the Federal Reserve having been in control of the United
States economy for 25 years under the pretext of promoting monetary
stability, it has caused three major economic downturns including the
Great Depression. As Nobel Prize winning economist Milton Friedman put
it,
"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 bank...To paraphrase Clemenceau
money is much too serious a matter to be left to the central bankers."
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."
|
| 1941 |
Sir Josiah Stamp, director of the Bank of England during the
years 1928-1941, made the following statement with regard to banking,
"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 born in sin.
Bankers own the Earth. Take it away from them, but leave them the
power to create money, and with the flick of the pen they will create
enough money to buy it back again...
Take this great power away from them and all great fortunes like
mine will disappear, and they ought to disappear, for then this would
be a better and happier world to live in. But if you want to continue
to be slaves of the banks and pay the cost of your own slavery, then
let bankers continue to create money and control credit."
|
| 1944
|
The United States income is running at 183 billion dollars, yet
103 billion dollars is being spent on World War II. This was thirty
times the spending rate during World War I. Actually, it was the
American taxpayer that picked up 55% of the total allied cost of the
war.
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), were approved with full United States
participation.
The principal architects of the Bretton Woods system, and hence
the IMF, were Harry Dexter White and John Maynard Keynes.
Interestingly Harry Dexter White who died in 1946, was identified as a
Soviet spy whose code name was, "Jurist," on October 16, 1950, in an
FBI memo. Also, John Maynard Keynes was a 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 created a
banking cartel comprising the world'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 IMF
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 IMF 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. Also, the voting power in the IMF gives the United
States and the United Kingdom (the Federal Reserve and the Bank of
England), effective control of it. |
| 1945 |
The second, "League Of Nations," now renamed the, "United
Nations," was approved. The bankers, World War II, had been a 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. |
| 1946 |
The Bank of England was 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.
So, 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
those from the world of commercial banking and conventional economics.
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 big business.
Although the Bank of England is called a central bank it is now
essentially a regulatory body that supports and oversees the existing
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. |
| 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. During that
same period Japanese debt increased by 1,348%, French debt increased by
583%, and Canadian debt increased by 417%.
James Paul Warburg appearing before the Senate on 7th February 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."
This is when the central bankers got to work on their plan for
global government which started with a three step plan to centralize
the economic systems of the entire world. These steps were:
- Central Bank domination of national economies worldwide.
- Centralized regional economies through super states such as the European Union, and regional trade unions such as NAFTA.
- Centralize the World Economy through a World Central Bank, a world
money, and ending national independence through the abolition of all
tariffs by treaties like GATT.
|
| 1953 |
President Eisenhower orders an audit of Fort Knox. Fort Knox is
found to contain over 700 million ounces of gold, 70% of all the gold
in the world. Although Federal Law requires an annual physical audit
of Fort Knox's gold, it is under Eisenhower's presidency that the last
audit is carried out, for reasons that will soon become clear. |
| 1963 |
President Kennedy issues dollar bills carrying a red seal, and
called United States Note. A lot of people believe he was already
printing his own debt free money and that is why he was killed, in much
the same way as President Lincoln. However, these United States Notes
carrying the red seal were merely a reissue of the Greenbacks
introduced by President Lincoln.
What could have been motive though, is that on June 4, President
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. |
| 1967 |
Congressman Wright Patman, then the Chairman Of The House Banking And Currency Committee, stated in Congress,
"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."
|
| 1969 |
Congress approves laws authorizing the Federal Reserve to accept
the IMF's, "SDR's," as reserves in the United States and to issue
Federal Reserve Notes in exchange for SDR's. |
| 1971 |
All the pure gold had been secretly moved from Fort Knox, sold to
international money changers for the $35 per ounce price, and is
believed to now be kept in London. This is also when President Nixon
repeals 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 fact, 9 years later, 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. |
| 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 fell to her death from the
window of her ten storey apartment block in New York. |
| 1975 |
Edith Roosevelt, the grand-daughter of President 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."
The United States government still did not undertake an audit of the gold in Fort Knox to quell this speculation. |
| 1981 |
When President Ronald Reagan took office, his conservative friends
suggested to him that he return to a gold standard, as a means to
curbing government spending. President 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. |
| 1982 |
President 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
private bankers, as collateral against the National Debt."
|
| 1983 |
In order that Ecuador's government be allowed a loan of 1.5
billion dollars from the IMF, they were forced to take over the unpaid
private debts Ecuador's elite owed to private banks. Furthermore in
order to ensure Ecuador could pay back this loan, the IMF dictated price
hikes in electricity and other utilities. When that didn't give the
IMF enough cash they ordered Ecuador to sack 120,000 workers.
Ecuador were required to do a variety of things under a timetable
imposed by the IMF. These included: raising the price of cooking gas
by 80% by November 1 2000; transferring the ownership of its biggest
water system to foreign operators; granting British Petroleum the
rights to build and own an oil pipeline over the Andes; and eliminating
the jobs of more workers and reducing the wages of those remaining by
50%. |
| 1985 |
In order to illustrate that the great majority of money is not
even printed these days, please see the following speech by the late
Lord Beswick which appeared in HANSARD, 27th November 1985, vol. 468,
columns 935-939, under the title, "Money Supply and the Private
Banking System," which states,
"Lord Beswick rose to call attention to the statement made by the
Chancellor of the Duchy of Lancaster on 23rd July 1985 that the 96.9
per cent increase in money supply over a five-year period has been
created by the private banking system and without Government authority….
The noble Lord said, 'My Lords, on 10th June this year I asked Her
Majesty’s Government by what amount the money supply had increased in
the five-year period to mid-April 1985. Interestingly, they gave me
the answer in percentages and not in pounds. Having given him prior
notice, perhaps the Minister would be good enough later to give me the
answer in money terms.
The Government reply on 10th June was that the increase had been by
101.9 per cent, and that of that very large amount only 5 per cent was
accounted for by the state minting of more coins and the printing of
more notes. That 96.9 per cent increase represented not only an
enormous sum of money but also a crucially important factor in our
economy.
I wanted to know by whom it had been created, and on 23rd July I
again asked Her Majesty’s Government to what extent this increase had
Government approval. I was told by the Chancellor of the Duchy,
speaking for the Government, 'The 96.9 per cent represented new bank
deposits created in the normal course of banking business and no
Government authority is necessary for this.'
Had he said that some counterfeiter of coins or forger of notes had
been at work there would of course have been an immediate and indignant
outcry, yet here we have a government statement that private
institutions have created this enormous amount of extra purchasing
power and we are expected to accept that it is normal practice and that
the government authority does not come into it.
When I asked whether we ought not to consider more deeply who was
benefiting from this money-creating power, the Minister said that the
implications, though interesting, were maybe too far reaching for
Question Time, and so I raise the matter again in debate and hope to
get more enlightenment.
The issues are important, they are certainly under-discussed,
perhaps not adequately understood, and I hope that I am not being
unduly unfair if I say that those who understand the mechanisms often
do very well out of them. I make no party point; it is all much bigger
and wider than that."
Notice how the Chancellor of the Duchy gave the game away when he
said that no government authority was needed for this present system of
credit creating. |
| 1987 |
Edmond de Rothschild creates the World Conservation Bank which is
designed to transfer debts from third world countries to this bank and
in return those countries would give land to this bank. This is designed
so the Rothschilds can gain control of the third world which
represents 30% of the land surface of the Earth. |
| 1988: |
The three arms of the World Central Bank, the World Bank, the BIS
and the IMF, now generally referred to as the World Central Bank,
through their BIS arm, require the world's bankers to raise their
capital and reserves to 8% of their liabilities by 1992. This increased
capital requirement put an upper limit on fractional reserve lending.
To raise the money, the world's bankers had to sell stocks which
depressed their individual stock markets and began depressions in those
countries. For example in Japan, one of the countries with the lowest
capital in reserve, the value of its stock market crashed by 50%, and
its commercial real estate crashed by 60%, within two years.
The idea is for the IMF to create more and more SDR's backed by
nothing, in order for struggling nations to borrow them. These nations
will then gradually come under the control of the IMF as they struggle
to pay the interest, and have to borrow more and more. The IMF will
then decide which nations can borrow more and which will starve. They
can also use this as leverage to take state owned assets like utilities
as payment against the debt until they eventually own the nation
states. |
| 1991 |
At the Bilderberg Conference on June 6 to 9, in Baden-Baden, Germany, David Rockefeller made the following statement,
"We are grateful to the Washington Post, the New York Times, Time
Magazine, and other great publications whose directors have attended
our meetings and respected their promises of discretion for almost 40
years. It would have been impossible for us to develop our plan for
the world, if we had been subjected to the lights of publicity during
those years.
But the world is now more sophisticated and prepared to march
towards a world government. The super-national sovereignty of an
intellectual elite and world bankers is surely preferable to the
national auto-determination practiced in past centuries."
Note: Click here for a Microsoft Excel spreadsheet with a list of people at the Bilderberg Conferences. |
| 1992 |
The third world debtor nations who had borrowed from the World
Bank, pay 198 million dollars more to the central banks of the
developed nations for World Bank funded purposes than they receive from
the World Bank. This only goes to increase their permanent debt in
exchange for temporary relief from poverty which is caused by the
payments on prior loans, the repayments of which already exceed the
amount of the new loans.
This year Africa's external debt had reached 290 billion dollars,
which is two and a half times greater than its level in 1980, which has
resulted in deterioration of schools, deterioration of housing,
sky-rocketing infant mortality rates, a drastic downturn in the general
health of the people, and mass unemployment.
The Washington Times reports that Russian President, Boris
Yeltsin, was upset that most of the incoming foreign aid was being
siphoned off, and he stated,
"Straight back into the coffers of Western Banks in debt service."
This year American taxpayers pay the Federal Reserve
286 billion dollars in interest on debt the Federal Reserve purchased
by printing money virtually cost free. |
| 1994 |
The Regal Act is introduced in the United States to authorize the
replacement of President Lincoln's Greenbacks with debt based notes.
They had lasted for 132 years. |
| 1996 |
Ever wondered why all the world's production seems to be moving to
China? In a report entitled, "China's Economy Toward the 21st
Century," released this year, it predicts that the per capita income in
China in 2010, will be approximately 735 dollars. This is less than
30 dollars higher than the World Bank definition of a low income
country. |
| 1997 |
Less than two months before Tony Blair came to power in
England, another interesting entry can be found in HANSARD, 5th March
1997, volume 578, No. 68, columns 1869-1871, in which the Earl of
Caithness is recorded as having stated,
"The next government must grasp the nettle, accept their
responsibility for controlling the money supply and change from our
debt-based monetary system. My Lords, will they? If they do not, our
monetary system will break us and the sorry legacy we are already
leaving our children will be a disaster."
On 6 May, only four days after Tony Blair's election as Prime
Minister, his Chancellor of the Exchequer, Gordon Brown, announces he
is going to give full independence from political control to the Bank
of England.
In his 1997 book, The Grand Chessboard, Zbigniew Brzezinski reveals
that Germany is the largest shareholder in the World Bank. When you
bear in mind that bankers of the Rothschild bloodline were said to own
Germany, "lock, stock and barrel," at the end of World War I, it is not
difficult to see who controls the World Bank now. |
| 1998 |
The IMF eliminate food and fuel subsidies for the poor in
Indonesia. At the same time the IMF soaked up tens of billions of
dollars to save Indonesia's financiers or rather the international banks
from whom they had borrowed.
A document leaks out of the World Bank, called, "Master Plan for
Brazil." In it it spells out five requirements to ensure a flexible
public sector workforce. These are as follows:
- Reduce Salary/Benefits
- Reduce Pensions
- Increase Work Hours
- Reduce Job Stability
- Reduce Employment
|
| 1999 |
In Brazil, Rio's privatized electric company named, "Rio Light,"
is responsible for repeated blackouts in neighborhoods. The company
blames the weather in the Pacific Ocean for the blackouts, when Rio is
on the Atlantic. The blackouts wouldn't have anything to do with the
fact that after privatization Rio Light axed 40% of the company's
workforce would it? No problem for Rio Light, as a result of that
their share price went up 33%. |
| 2000 |
The IMF require Argentina to cut the government budget deficit
from its current $5.3 billion to $4.1 billion the following year,
2001. At that point unemployment was running at 20% of the working
population. They then upped the ante and demanded an elimination of
the deficit. The IMF had some ideas of how this could be achieved.
Cut the government's emergency employment program from $200 a month to
$160 a month.
They also asked for an across the board 12 - 15% cut in salaries for
civil servants and the cutting of pensions to the elderly by 13%. By
December of 2001, middle class Argentineans sick of literally hunting
the streets for garbage to eat, started burning down Buenos Aires. In
January Argentina devalued the Peso wiping out the value of many common
people's savings accounts. Dismayed that they can't rape that country
further, James Wolfensohn, President of the World Bank, states,
"Almost all major utilities have been privatized."
How do they control the unrest within the population? Let me see,
an Argentinean bus driver, a thirty seven year old father of five, lost
his job as a bus driver from a company that owed him 9 months pay.
During a demonstration against this and other injustices perpetrated
upon him and the population, the military police shot him dead with a
bullet through the head.
In Tanzania with approximately 1.3 million people dying of AIDS,
the World Bank and the IMF decided to require Tanzania to charge for
what were previously free hospital appointments. They also ordered
Tanzania to charge school fees for their previously free education
system then expressed surprise when school enrolment dropped from 80%
to 66%.
The IMF and World Bank have been in charge of Tanzania's economy
since 1985 during which time Tanzania's GDP dropped from $309 to $210
per capita, standards of literacy fell and the rate of abject poverty
increased to envelop 51% of the population.When the IMF and World Bank
took charge in 1985, Tanzania was a socialist nation. In June 2000 the
World Bank reported arrogantly,
"One legacy of socialism is that most people continue to believe
the State has a fundamental role in promoting development and providing
social services."
There is rioting in Bolivia after the World Bank drastically
increase the price of water. The World Bank claim this is necessary to
provide for desperately needed repairs and expansion. This is
poppycock, my own water supplier is Wessex Water, a privatized water
company that was actually owned by Enron! Since privatization (England
was the first country to privatize the public water supply), the
quality dropped and the prices exploded.
Almost all privatized water companies in Britain have consistently failed to meet government targets on leakages. |
| 2001 |
Professor Joseph Stiglitz, former Chief Economist of the World
Bank, and former Chairman of President Clinton's Council of Economic
Advisers, goes public over the World Bank's, "Four Step Strategy,"
which is designed to enslave nations to the bankers. I summarize this
below,
Step One: Privatization.
This is actually where national leaders are offered 10% commissions to
their secret Swiss bank accounts in exchange for them trimming a few
billion dollars off the sale price of national assets. Bribery and
corruption, pure and simple.
Step Two: Capital Market Liberalization.
This is the repealing any laws that taxes money going over its
borders. Stiglitz calls this the, "hot money," cycle. Initially cash
comes in from abroad to speculate in real estate and currency, then
when the economy in that country starts to look promising, this outside
wealth is pulled straight out again, causing the economy to collapse.
The nation then requires IMF help and the IMF provides it under the
pretext that they raise interest rates anywhere from 30% to 80%. This
happened in Indonesia and Brazil, also in other Asian and Latin
American nations. These higher interest rates consequently impoverish a
country, demolishing property values, savaging industrial production
and draining national treasuries.
Step Three: Market Based Pricing.
This is where the prices of food, water and domestic gas are raised
which predictably leads to social unrest in the respective nation, now
more commonly referred to as, "IMF Riots." These riots cause the
flight of capital and government bankruptcies. This benefits the
foreign corporations as the nations remaining assets can be purchased
at rock bottom prices.
Step Four: Free Trade.
This is where international corporations burst into Asia, Latin
America and Africa, whilst at the same time Europe and America
barricade their own markets against third world agriculture. They also
impose extortionate tariffs which these countries have to pay for
branded pharmaceuticals, causing soaring rates in death and disease
There are a lot of losers in this system, but a few winners -
bankers. In fact the IMF and World Bank have made the sale of
electricity, water, telephone and gas systems a condition of loans to
every developing nation. This is estimated at 4 trillion dollars of
publicly owned assets.
In September of this year, Professor Joseph Stiglitz is awarded the Nobel Prize in economics. |
| 2002 |
On April 12th every major paper in the USA runs a story that
Venezuelan President Hugo Chavez had resigned as he was, "unpopular and
dictatorial." In fact he had been kidnapped under a coup, where he
was imprisoned on an army base. Following sympathy from the guards,
the coup falls apart and President Chavez is back in his office one day
later. Interestingly he has video evidence that whilst he was
imprisoned on that base a United States military attaché entered the
base.
President Chavez, demonized by the controlled western media, gives
milk and housing to the poor, and gives land not used for production
by big plantation owners for more than two years, to those without
land. His big crime however, was in passing a petroleum law that
doubled the royalty taxes from 16% to 30% on new oil discoveries, which
affected Exxon Mobil and other international oil operators.
He also took full control of the state oil company, PDVSA, which
before was nominally owned by the government, but in actual fact was
in thrall to these international oil operators. Not only that but
President Chavez is also the President of OPEC (Organization of
Petroleum Exporting Countries). The main reason is, however, that
President Chavez fully rejects the World Bank's, "Four Step Strategy,"
and plan to reduce wages of the people for the benefit of the bankers.
Indeed President Chavez has increased the minimum wage by 20%,
which has increased the purchasing power of the lower paid workers and
strengthened the economy. His minister, Miguel Bustamante Madriz,
fully aware of the danger Venezuela poses to the bankers when people
contrast the fact it wouldn't let them in, for example, with Argentina
who did, stated,
"America can't let us stay in power. We are an exception to the
new globalization order. If we succeed, we are an example to all the
Americas."
|
| 2006 |
America and Britain is now at war in both Afghanistan and Iraq,
and looking toward an invasion of Iran. As I mentioned before the
greatest debt generator of them all is war. This has pushed America to
the brink of financial collapse. This timeline is intended as a
record of the past, but before you look at the conclusions, you may
like to look at one person's prediction for the near future in this
mind-blowing article. |
|
In my research, I have discovered those critics who
currently condemn the monetary system almost universally suggest that
the only solution is to restore a gold backed currency. I don't think
any readers of this timeline can be in any doubt, that such a system
will be open to abuse by those very people who abuse it today. Indeed
if we introduced a currency backed by chairs, I believe we would find
ourselves with nothing to sit on!
The only monetary system that seems to have worked in
history is one which is backed by the goodwill of a government and is
debt free, such as President Lincoln's, "Greenbacks." Fortunately, the
Nobel Peace Prize winning economist, Milton Friedman came up with an
ingenious solution of wresting back control of the money supply from
the bankers, paying off all outstanding debt, and preventing inflation
or deflation whilst this process is completed. I summarize this below.
Using America as the example here, Friedman suggests
that debt free United States notes be issued to pay off the United
States Bonds (debts) on the open market. In conjunction with this, the
reserve requirements of the day to day bank the regular person banks
with, be proportionally raised so the mount of money in circulation
remains constant.
As those people holding bonds are paid off in
United States notes, they will deposit the money in the bank they bank
with, thus making available the currency then needed by these banks to
increase their reserves. Once all these United States bonds are paid
off with United States notes, the banks will be at 100% reserve banking
instead of the fractional reserve system and then fractional reserve
banking can be outlawed.
If necessary, the remaining liabilities of
financial institutions could be assumed or acquired by the United
States government in a one-off operation. Therefore these institutions
would eventually be paid off with United States notes for the purpose
of keeping the total money supply stable.
The Federal Reserve Act of 1913 and the National
Banking Act of 1864 must also be repealed and all monetary power
transferred back to the Treasury Department. The effects of this will
be seen very soon by the average person as their taxes would start to
go down as they would no longer be paying interest on debt based money
to a handful of central bankers.
A law must be passed to ensure that no banker or
any person in any way affiliated with financial institutions, be
allowed to regulate banking. Also the United States must withdraw from
all international debt based central banking operations ie. the IMF;
the BIS; and the World Bank.
If all the countries of the world adopted the
conclusions above, then humanity will at last be free of these central
bankers and their debt based currency. It's a lovely idea, but first
we have to get it past our corrupt politicians many of whom are quite
aware of the scam that plays us on a daily basis, however rather than
do the job we have elected them to do, they keep their mouths shut and
instead look after themselves and their families, whilst the rest of us
continue to be exploited.
"For what will it profit men that a more prudent
distribution and use of riches make it possible for them to gain even
the whole world, if thereby they suffer the loss of their own souls?
What will it profit to teach them sound principles in economics, if
they permit themselves to be so swept away by selfishness, by unbridled
and sordid greed, that, 'hearing the Commandments of the Lord, they do
all things contrary."
Pope Pius XI
Sources
| The Life Of William Ewart Gladstone |
John Morley |
1903 |
| Secrets Of The Federal Reserve |
Eustace Mullins |
1952 |
| The Great Crash 1929 |
John Kenneth Gailbraith |
1955 |
| F. D. R. My Exploited Father-In-Law |
Curtis B. Dall |
1967 |
| Collective speeches of Congressman Louis T. McFadden |
Louis T. McFadden |
1970 |
| A Monetary History of the United States, 1867-1960 |
Milton Friedman and Anna J. Schwartz |
1971 |
| None Dare Call It Conspiracy |
Gary Allen |
1972 |
| Tragedy & Hope: A History of the World in Our Time |
Carroll Quigley |
1975 |
| The Truth in Money Book |
Theodore R. Thoren and Richard F. Warner |
1984 |
| The Grand Chessboard |
Zbigniew Brzezinski |
1997 |
| The Creature from Jekyll Island: A Second Look at the Federal Reserve - 3rd Edition |
G. Edward Griffin |
1998 |
| The Money Changers |
Patrick S. J. Carmack |
1998 |
| The Shadows of Power: The Council on Foreign Relations and the American Decline - 2002 Edition |
James Perloff |
2002 |
| Globalization and Its Discontents |
Joseph E. Stiglitz |
2003 |
|
