Snippets & Andrew Hitchcock
Thu, Dec 13, 2012
Subject: History of Money Changers
Dinar Guru Snippets: Several significant RV intel is posted here
2-12-2012 Intel Guru Footforward Until the U.S. Treasury gives the go ahead to the banks to start exchanging, they can't do anything. Until it [rate?] changes at the banks, we don't have an RV. I have seen the document that indicates that Iraq has to have an RV greater than $1 in order to get out of Chapter 7. This has been the plan all along. Iraq has done everything they need to do to get out of Chapter 7…
12-12-2012 Intel Guru Frank26 The FAA decided to open the air spaces in Iraq. They could have done this a long time ago, so you have to look at the timing. My contact believes the State Dept. did this. My contact in Iraq says it is not important for the flights coming into Iraq, but for the flights leaving Iraq. There are a lot of powerful people in Iraq with a lot of dinars. They want to get the best rate possible and they probably won't get it at the CBI. We are hoping it starts out at $1.17.
12-11-2012 Intel Guru Frank26 Next week Kuwait is coming in to Bagdad to ask the UN to release Iraq from Chapter 7, it has been 10 years. Next week some powerful things are about to happen to lift them of the shackles & will allow them to enter into the international world and the only way they can enter is with an international currency value. They are about to increase their value. To what value? They are going to lift the 3 zeroes from their exchange rate, which is about .000859 and quickly move the decimal to the right and the rate will be $.86, a little more in the end in the U. S. of America, about $1.17 when you cash out. Do you see why everyone is excited right now? They are telling us they are about to raise the rate of their currency.
Read more: http://www.dinarguru.com/#ixzz2ErcQLbBz
No RV Until Prosperity Packages are Delivered!
Dinar Recaps posted on 13 DEC 2012, Snippets:
[redhead1] Rocky 49 – Terry K did say he does not think we are going to have codes –
that our rate will be the same as the public –
that there 14 pp packages and 5 have been delivered –
$304 billion has come in for pps…
sandytob] chiefapostle New? if they are new they are scams.
The PP are about 20 years old.
They were put on hold and those that were involved did not get paid
what they were owed. Now they will be paid. There are no new ones that are legit.
sandytob] chiefapostle maybe some more were just released.
[buckwheat] sandytob exactly
[telemar59] The PP'S once they have started being paid out is it a domino
or can something stop them?
buckwheat] telemar59 The PP's are already funded;
they are not predicated on the IQD RV
[telemar59] Buckwheat do they have to be completed before an RV?
[buckwheat] telemar59 nope, but I'm guessing that the ptb's are wanting everything to go at once. That is just my opinion
ThunderWalker: … Prosperity Packages. Yes they are real, and yes there have been
scams based on using these buzzwords as well… "Farm Claims".
Understand the farm claims and you will understand the PPs. .
..intelligence agencies, military operations, other govt agencies, and large corporate
strategies work: it's called "compartmentalization"…
The RV and Global Reset are two such large operations.
Many people involved only told what they need to know to perform their part,
and yes, are probably lied to about things they don't need to know….
My personal opinion, which is based on more than just guessing:
Date: sooner than later.
Rate: have an oxygen mask ready, you will be blown away.
[telemar59] GM. UNITED States of America – It can now be reported that on the
direct orders of the IMF (International Monetary Fund),
the U.S. Provost Marshal,
and the German Police,
all Deutsche Bank derivative-riddled proprietary accounts were frozen
today on 12-12-12.
[ [telemar59] Now that the Deutsche Bank has had their derivative accounts frozen
there are really no derivatives outstanding for the crooked Fed to prop up.
[telemar59] The 85 Billion the Fed is spending monthly is to pay off the deficit.
[telemar59] This means more rats have been exposed and their accounts have been frozen.
[Coffeeone] telemar59 Are they printing money to do that?
[Coffeeone] flashing How are they paying those billions? In what form?
[telemar59] No it is digital money only.
P.S. Drake said Marshals would be involved. Looks like he was right. This is huge!
I hope you like the free images I added.
The History of the “Money Changers”
By Andrew Hitchcock, 26 Feb 2006. He also wrote the Rothschild timeline.
Here is an illustrated version of this timeline.
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.
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
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.
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
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
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
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
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
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
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
"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
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
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
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
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
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
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
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
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
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
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.
"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 recharter
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
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
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
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,
"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
"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
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
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
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 twothirds
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
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
"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
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
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
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
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
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
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
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
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
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:
1. The Federal Open Market Committee approves the purchase of United
2. The bonds are purchased by the Federal Reserve.
3. The Federal Reserve pays for these bonds with electronic credits to the
seller's bank, these credits are based on nothing.
4. 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?
1. It prevented any future banking reform efforts, as the Federal Reserve
was to be the only producer of money.
2. 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.
3. 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.
4. It centralized overall control of our nations money supply in the hands of
and for the profits of a few men.
5. 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
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
"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
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
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
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
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
"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
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:
1. Diplomatic immunity for persons and what they carry with them (i.e.,
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
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
"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
"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
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
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
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
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:
1. Central Bank domination of national economies worldwide.
2. Centralized regional economies through super states such as the
European Union, and regional trade unions such as NAFTA.
3. 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
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
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
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
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
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
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
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
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
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
"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
"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
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
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
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
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 amount of money in circulation remains
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
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
The Life Of William Ewart Gladstone John Morley 190
Secrets Of The Federal Reserve Eustace Mullins 195
The Great Crash 1929 John Kenneth Gailbraith 195
F. D. R. My Exploited Father-In-Law Curtis B. Dall 196
Collective speeches of Congressman Louis T.
Louis T. McFadden 197
A Monetary History of the United States, 1867-1960 Milton Friedman and
Anna J. Schwartz
None Dare Call It Conspiracy Gary Allen 197
Tragedy & Hope: A History of the World in Our Time Carroll Quigley 197
The Truth in Money Book Theodore R. Thoren and
Richard F. Warner
The Grand Chessboard Zbigniew Brzezinski 199
The Creature from Jekyll Island: A Second Look at
the Federal Reserve – 3rd Edition
G. Edward Griffin 199
The Money Changers Patrick S. J. Carmack 199
The Shadows of Power: The Council on Foreign
Relations and the American Decline – 2002 Edition
James Perloff 200
Globalization and Its Discontents Joseph E. Stiglitz 200
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