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Act," passed by Congress affected America (the money supply goes down purely because currency in circulation is being withdrawn):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|
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.
Money became scarce
simply because bank loans
were called in
and no new ones were given.
2009 saw this happen and it is still going on today. Many millions of families have lost their homes because of the recall of loans that were stacked against them from the start. These banking creatures are human in form only, certainly they do not have the emotions of a human being.
AND NOW BACK TO THE MONEY GAME.
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.
Ernest Seyd obviously spent his money wisely, as Congress passed 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.
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."
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.
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,
The same formulae to force things in a certain direction are still in place and still effective. The only difference is that the knowledge of sold politicians is much better known, as well as who the lobbyists are.
"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."
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.
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.
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.
Of course, Garfield was buried with great state and pomp, lauded by his murderers as a great great man of vision to the gullible citizenry, but somewhere you can be sure someone was gloating and luxuriating in the feeling of a job well done.1891
History is repeating itself yet once again. People do not know of these past matters because the very class of history gives different versions of the truth, omitting all mention of the unions and strikes, the peoples' revolts for decent work environments. And our current society is brought up completely in the here and now, taught that history is boring.
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."
DO YOU STILL BELIEVE
THESE CURRENT CRASHES
AND WALL STREET WOES
THAT YOU FINANCE,
OR A NATURAL COMPONENT
OF THE BANKING BUSINESS?
American Bankers Association, as printed in the Congressional Record of April 29, 1913.
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 sort of bullying and threatening continues to this day. It is a blatant abuse of power and was more recently used when the poor bankers were begging President Obama for the bailout funds last Autumn.
This tactic succeeded, McKinley beat Bryan, albeit by a small margin.
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."
Another despicable diabolical aspect of this whole plan, meanwhile, was taking place in Russia. In the past, the Rothschilds had brought about the deaths of several Tzars. Now, because he stood against their plans of a New World Order, it was time to remove Nicholas.
Ultimately this first attempt failed. Since it failed, the ever thrifty Rothschilds began a pogrom against the normal Russian Jewish people. As a result, many millions were induced to move to far lands, especially North America.
This gave the Rothschilds a base of Jewish power to be used to sway American elections. Many Russian Jews were sent to Germany also, to innocently lay the foundations for Rothschild actions that would lead to WW2 which was necessary for the establishment of Israel in the eyes of the world. (If necessary return and check the plans orchestrated by Arnold Pike for the creation of the three world wars.)
The Rothschilds moved slowly but insidiously towards this goal using anyone, including the Jews. They are not Jewish, they are Satanists and use all equally although their pose is that of Jewry because it is convenient at this time. To them, the end always justifies the means.
People, their money gone, their banks closed, milling the streets of New York.
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.
American tool of the Rothschilds, JP Morgan on tear. His bulbous purple nose was altered in all of his portraits but they could not remove the evil predatory glint in his eye. Truly an evil eye.
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 reserve-less private money, purchased goods and services with it, and sent some of it to his branch banks to lend out at interest.
Morgan was owned,
lock, stock and barrel
by the Rothschilds.
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.
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."
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.
Nelson Aldrich, Father of Nelson and David Rockefeller, patriarch of the clan.
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).
Several spawn of Satan born in one family. How convenient.
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!
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 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 ~ ALL ROTHSCHILD BANKERS.
Frank Vanderlip, President of National Citibank
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 Economists continually try and sell the public the idea that recessions or depressions are a natural part of what they call the “business cycle”.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."
Wealthy banking thugs on Jeckyll Island working hard to find a way to illegally take over the money system of America legally and foist the tab on the people.
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.
Another sweet-faced banker, Senator Aldrich.
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.
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 would 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."
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."
This is one of the most nefarious acts these money changer scum have brought upon the planet and their list is indeed noteworthy as you have read so far. This is the end which they have been scheming for over the past few thousand years, learning from their mistakes with each failure.
The Fed was created in great secrecy because these buzztards knew exactly what they were about. Their conniving thieving avaricious ways are what Presidents have been fighting against this since the establishment of the country. Indeed a few died as a result of the action of these creatures, just as did Julius Caesar.
And now, today, in 2010, we are near the end. They have begun, as a result of their terrible power, to price food out of our reach now that they have made so many homeless through their insatiable greed. They will not settle until they have sucked out the life from us all if they are not stopped.
Said Congressman Charles Lindbergh
on the midnight passage of
the Federal Reserve Act:
“From now on,
will be scientifically created.”
And so it has been since that day
for our great grandparents,
and now us and our children.
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.
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
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.
WHO OWNS THE FEDERAL RESERVE:
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 Bond
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.
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.
THE FOLLOWING IS A GREAT INSIGHT INTO THE SITUATION OF NORTH AMERICA TODAY. THIS IS DUE TO THE COOPERATIVE MANIPULATION BY GOVERNMENT, THE WALL STREET BANKERS AND THEIR FEDERAL RESERVE. PAY ATTENTION.
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,
I am amazed Lindbergh was not assassinated like so many others.
"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."
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,
"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."
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.
"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."
Over the centuries the Rothschilds had managed to assassinate several Romanov Tsars ~ namely Alexander 1 and Nicholas 1 ~ but Nicholas, so far, had avoided their machinations.
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.
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.
This was also due to the banks great generosity in loaning to businesses and farmers with their scientific depression formula in mind. A good Depression takes at least one decade to set up to make the profits worth the effort. This current depression that now effects the world, has been being nurtured by the Fed since the Presidency of Reagan when Greenspan moved into place to begin proceedings.
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."
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."
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."
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."
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."
Six hundred odd corporations … controlled two thirds of industry. Ten million small-business men divided the other third. … [A]t the end of another century we shall have all American industry controlled by a dozen corporations and run by perhaps a hundred men. Put plainly, we are steering a steady course toward economic oligarchy. ~ FDR1929
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
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."
Mr. Baruch is still remembered for his generosity and donations to charity and great political achievement! Mantra: Remember who writes history, remember who writes history.....
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.
Remember Senator Lindbergh's comment on how now depressions could be created by the application of a simple formula? We have seen them do this again and again, and now in the early part of this new century, they are doing the same thing on a global scale to every single human being they can steal from. This is the same formula applied on a massive scale that we deal with in 2010. Do not think we are through yet.
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
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.
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:
1. Diplomatic immunity for persons and what they carry with them (i.e., diplomatic pouches).
2. No taxation on any transactions, including salaries paid to employees.
3. Embassy-type immunity for all buildings and/or offices operated by the BIS worldwide including China and Mexico.
4. No oversight or knowledge of operations by any government authority, they are not audited.
5. Freedom from immigration restrictions.
6. Freedom to encrypt any and all communications of any sort.
7. Freedom from any legal jurisdiction, they even have their own police force.
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 though the United States rejected this World Central Bank, the Federal Reserve still sent members to participate in its meetings in Switzerland, right up until 1994 when the United States was, "officially," dragged into it.
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.
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!
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."
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.
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.
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."
ALBERT PIKE, 1871, REGARDING WW2 SAID: "The Second World War must be fomented by taking advantage of the differences between the Fascists and the political Zionists. This war must be brought about so that Nazism is destroyed and that the political Zionism be strong enough to institute a sovereign state of Israel in Palestine. During the Second World War, International Communism must become strong enough in order to balance Christendom, which would be then restrained and held in check until the time when we would need it for the final social cataclysm."
What I am saying is, this is what happened and it was planned WELL BEFORE 1871 Let alone 1938.
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."
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."
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.
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.
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.
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.
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.
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.
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."
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.
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.
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.
Three 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.
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.
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.
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."
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.
Remember, Imperialists Great Britain and America are the powers behind the IMF.
Ecuador was required to do a variety of things under a timetable imposed by the IMF.
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%.
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.
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.
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.
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.
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.
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.
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.
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.
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
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%.
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 enrollment 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.
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.
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.
By Western Media, Bankers and government leaders, THIS is what makes the leader of a nation "a dictator, a threat to democracy, a Communist,etc etc etc. THIS is why Chavez is condemned by the West....
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.
In other words, Chavez has the unmitigated nerve to stand up to the bullying bankers and build up his people rather than tear them down. THE WORLD NEEDS MORE REAL MEN IN POWER. If you just watch Chavez among the people, it is so very obvious he is greatly loved.
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."
Over the past few years the US has been sabre shaking at Venezuela and is slowly setting the agenda for war with many military sites built around the country.
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 time line 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 time line 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."