---- Banking ----- Book: Edward Griffin: 'The Creature from Jekyll Island' - from realityzone.com Covers the history of the fiat currency central banking swindle, the US FED, etc. http://www.globalresearch.ca/index.php?context=viewArticle&code=BRO20080315&articleId=8349 Today We're All Irish: Debt Serfdom Comes to America This form of "debt slavery" or "debt peonage" was not just an accidental development of history. It was a deliberately-planned alternative to the slave arrangement in which owners were responsible for the feeding and care of a dependent population, and it is still with us today. Although European financiers were in favor of an American Civil War that would return the United States to its colonial status, they admitted privately that they were not necessarily interested in preserving slavery. They preferred "the European plan": capital could exploit labor by controlling the money supply, while letting the laborers feed themselves. In July 1862, this ploy was revealed in a notorious document called the Hazard Circular, which was circulated by British banking interests among their American banking counterparts. It said: "Slavery is likely to be abolished by the war power and chattel slavery destroyed. This, I and my European friends are glad of, for slavery is but the owning of labor and carries with it the care of the laborers, while the European plan, led by England, is that capital shall control labor by controlling wages. This can be done by controlling the money. The great debt that capitalists will see to it is made out of the war, must be used as a means to control the volume of money. To accomplish this, the bonds [government debt to the bankers] must be used as a banking basis. . . . It will not do to allow the greenback, as it is called, to circulate as money any length of time, as we cannot control that." Posted Mar 16, 2008 10:06 AM PST http://www.safehaven.com/article-9890.htm Now We Know the Real Reasons For the Credit "Crisis" "In March 1929 there was a little meeting in New York. After that meeting, Bernard Baruch sells out [of stocks], the Rockefellers sell out, the Kennedys sell out, all of the big bankers sell out. The big people were out [of the stock market] by August. Then the Federal Reserve cut the money supply four times in a month. There were four drastic reductions in the money supply. "Then one day in October the banks called all of their loans on all of their margins at the same minute. Every bank in the money desk - and these were call loans, callable on demand. People had their stock on margin, borrowing 90%. Now they went to the banks and the banks weren't lending, they were calling. They run to the market and everyone's trying to sell. The banks had shut the money off. The call desks were closed. The money desk shut down....and all these people were running around trying to sell because they had to sell 10% down and they were wiped out. All of the people who weren't on the inside were gone." Some things never change, it would seem. Posted Apr 7, 2008 07:44 AM PST http://www.michaeljournal.org/myth.htm The Money Myth Exploded http://www.marketoracle.co.uk/Article5753.html The Four Tires of the Economic Apocalypse Herald the End of Capitalism Aug 04, 2008 - 04:56 PM By: Darryl_R_Schoon http://www.prosperityuk.com/prosperity/articles/edison.html THOMAS EDISON ON GOVERNMENT CREATED DEBT FREE MONEY Prosperity, September 2000 http://www.rense.com/general69/bank.htm Makow - 'The Jewish Banker Conspiracy' http://rense.com/general85/feddrec.htm The Federal Reserve - Jewish Private Bankers 3-28-9 http://www.fourwinds10.com/siterun_data/government/banking_and_taxation_irs_and_insurance/social_security/news.php?q=1239551313 A Short History of Banking http://www.webofdebt.com/articles/dollar-deception.php DOLLAR DECEPTION: HOW BANKS SECRETLY CREATE MONEY Ellen Brown, July 3rd, 2007 It has been called "the most astounding piece of sleight of hand ever invented." The creation of money has been privatized, usurped from Congress by a private banking cartel. Most people think money is issued by fiat by the government, but that is not the case. Except for coins, which compose only about one one-thousandth of the total U.S. money supply, all of our money is now created by banks. Federal Reserve Notes (dollar bills) are issued by the Federal Reserve, a private banking corporation, and lent to the government.1 Moreover, Federal Reserve Notes and coins together compose less than 3 percent of the money supply. The other 97 percent is created by commercial banks as loans. http://www.iraq-war.ru/article/196412 Zionomics in Four Easy Lessons: Understanding financial collapse By: Dr. Mahathir bin Mohamad on: 05.05.2009 [08:32 ] (568 reads) - Dr. Mahathir bin Mohamad (born December 20, 1925) is a retired Malaysian political figure. He was the fourth Prime Minister of Malaysia. He held the post for 22 years from 1981 to 2003, making him Malaysia's longest-serving Prime Minister, and one of the longest-serving leaders in Asia. During his term in office, he was credited for engineering Malaysia's rapid modernization. Mahathir is also known for his criticisms of western and developed countries. During the Asian financial crisis of 1997, IMF had prescribed a recovery package for Malaysia, but Mahathir defied international pressure, his then Deputy Anwar Ibrahim, and conventional wisdom in rejecting the package. Mahathir is credited with spearheading the phenomenal growth of the Malaysian economy, now one of the largest in Southeast Asia. Mahathir's public remarks about Jews date back as early as 1970 when he wrote in his controversial book The Malay Dilemma: "The Jews for example are not merely hook-nosed, but understand money instinctively." In 1997, during the financial crisis, he attributed the collapse of the Malaysian ringgit to a conspiracy of Jews against a prosperous Muslim state: "The Jews robbed the Palestinians of everything, but in Malaysia they could not do so, hence they do this, depress the ringgit." On 16 October 2003, shortly before he stepped down as prime minister, Mahathir said during a summit for the Organization of the Islamic Conference (OIC) in Putrajaya, that: "We Muslims are actually very strong, 1.3 billion people cannot be simply wiped out. The Nazis killed 6 million Jews out of 12 million during the Holocaust. But today the Jews rule the world by proxy. They get others to fight and die for them. They invented socialism, communism, human rights and democracy so that persecuting them would appear to be wrong so they may enjoy equal rights with others. With these they have now gained control of the most powerful countries. And they, this tiny community, have become a world power." He also named Israel as "the enemy allied with most powerful nations." http://chedet.co.cc/chedetblog/2009/04/economic-indices-and-the-wealt.html#more http://chedet.co.cc/chedetblog/2009/04/the-banking-system-and-the-fal.html#more http://chedet.co.cc/chedetblog/2009/04/currency-trading.html#more http://chedet.co.cc/chedetblog/2009/05/the-hedge-funds.html#more http://www.poketheeye.org/?p=210 Hitler's freedom from International Debt Slavery Within two years, the unemployment problem had been solved, and Germany was back on its feet. It had a solid, stable currency, with no debt, and no inflation, at a time when millions of people in the United States and other Western countries (controlled by international bankers) were still out of work. Within five years, Germany went from the poorest nation in Europe to the richest. Germany even managed to restore foreign trade, despite the international bankers' denial of foreign credit to Germany, and despite the global boycott by Jewish-owned industries. Germany succeeded in this by exchanging equipment and commodities directly with other countries, using a barter system that cut the bankers out of the picture. http://www.fourwinds10.com/resources/uploads/pdf/the_brief.pdf DISCLOSURE OF THE SECRET SERVICE PART OF WORLD FINANCE (More like a history of how we got to here) http://www.fourwinds10.com/siterun_data/government/banking_and_taxation_irs_and_insurance/social_security/news.php?q=1242677768 WHITSTLEBLOWER RESPONSE TO C.M. http://www.fourwinds10.com/siterun_data/government/banking_and_taxation_irs_and_insurance/social_security/news.php?q=1242677580 COMMUNICATIONS BETWEEN US AND A PERSON, MR. WHISTLEBLOWER, WORKING WITH OITC http://www.opednews.com/articles/TIME-TO-GET-OUT-THE-WHEELB-by-Ellen-Brown-090521-50.html The Weimar Hyperinflation: Time to get out the wheelbarrows? by Ellen Brown What actually drove the wartime inflation into hyperinflation, said Schacht, was speculation by foreign investors, who would bet on the mark's decreasing value by selling it short. Short selling of the German mark was made possible because PRIVATE banks made massive amounts of currency available for borrowing, marks that were created on demand and lent to investors, returning a profitable interest to the banks. At first, the speculation was fed by the Reichsbank (the German central bank), which had recently been PRIVATIZED. But when the Reichsbank could no longer keep up with the voracious demand for marks, other PRIVATE BANKS WERE ALLOWED TO CREATE THEM [MARKS] OUT OF NOTHING AND LEND THEM AT INTEREST. http://www.washingtonsblog.com/2009/06/other-reason-for-american-revolution.html The OTHER Reason for the American Revolution When he arrived, he was surprised to find rampant unemployment and poverty among the British working classes… Franklin was then asked how the American colonies managed to collect enough money to support their poor houses. He reportedly replied: "We have no poor houses in the Colonies; and if we had some, there would be nobody to put in them, since there is, in the Colonies, not a single unemployed person, neither beggars nor tramps." In 1764, the Bank of England used its influence on Parliament to get a Currency Act passed that made it illegal for any of the colonies to print their own money. The colonists were forced to pay all future taxes to Britain in silver or gold. Anyone lacking in those precious metals had to borrow them at interest from the banks. This brings us back to the editorial in the London Times written in response to Abraham Lincoln's issuance of the greenback notes. "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 the 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." Do you get it yet? Poverty for the masses is INTENDED, and designed into the system! http://opengov.ideascale.com/akira/dtd/3648-4049 TAKE BACK THE POWER TO CREATE MONEY FROM THE PRIVATE BANKING INDUSTRY http://www.webofdebt.com/ EXPLODING THE MYTHS ABOUT MONEY Our money system is not what we have been led to believe. The creation of money has been "privatized," or taken over by a private money cartel. Except for coins, all of our money is now created as loans advanced by private banking institutions — including the private Federal Reserve. Banks create the principal but not the interest to service their loans. To find the interest, new loans must continually be taken out, expanding the money supply, inflating prices — and robbing you of the value of your money. http://www.lewrockwell.com/north/north769.html What Is Money? Part 5: Fractional Reserve Banking by Gary North "The irresistible temptation now emerges for the goldsmith or other deposit banker to commit fraud and inflation: to engage, in short, in fractional reserve banking, where total cash reserves are lower, by some fraction, than the warehouse receipts outstanding. It is unlikely that the banker will simply abstract the gold and use it for his own consumption; there is then no likelihood of ever getting the money should depositors ask to redeem it, and this act would run the risk of being considered embezzlement. Instead, the banker will either lend out the gold, or far more likely, will issue fake warehouse receipts for gold and lend them out, eventually getting repaid the principal plus interest." http://mises.org/books/mysteryofbanking.pdf There is only one textbook in money and banking that states explicitly that all fractional reserve banking rests on fraud: Murray Rothbard's The Mystery of Banking. It is not used in any university. It never has been. It was published in 1983. It went out of print almost immediately. It is on-line here. 20091101 (VERY clear article!) http://www.pcdf.org/1996/15hotson.htm PCDForum Article #15 Release Date June 1, 1996 UNDERSTANDING MONEY by John H. Hotson Governments got into this mess by violating four common sense rules regarding their fiscal and monetary policies. These rules are: 1. No sovereign government should ever, under any circumstances, give over democratic control of its money supply to bankers. 2. No sovereign government should ever, under any circumstances, borrow any money from any private bank. 3. No national, provincial, or local government should borrow foreign money to increase purchases abroad when there is excessive domestic unemployment. 4. Governments, like businesses, should distinguish between "capital" and "current" expenditures, and when it is prudent to do so, finance capital improvements with money the government has created for itself. 20100319 http://www.informationliberation.com/?id=29387 http://engforum.pravda.ru/showthread.php?t=280548 Money Out Of Thin Air: Now Federal Reserve Chairman Ben Bernanke Wants To Eliminate Reserve Requirements Completely? My post to http://dailyreckoning.com/us-economic-outlook-default-hyperinflation-or-both/ Yep, we're all Doomed. And just to make sure everyone receives the very best quality of Doom, now Bernanke wants to eliminate banking minimal fractional reserve requirements entirely. Because, quote, they "impose costs and distortions on the banking system." See http://www.informationliberation.com/?id=29387 Money Out Of Thin Air: Now Federal Reserve Chairman Ben Bernanke Wants To Eliminate Reserve Requirements Completely? Time to add a few more feet of reinforced concrete to the bunker walls. "This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson} signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill." — Charles A. Lindbergh, Sr. "From now on, depressions will be scientifically created." — Congressman Charles A. Lindbergh Sr. "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" — Charles A. Lindbergh Sr. Lindbergh's book, Banking and Currency and The Money Trust is available free on line: http://www.yamaguchy.netfirms.com/7897401/lindbergh/lindb_index.html http://www.scribd.com/doc/6528934/Banking-and-Currency-and-the-Money-Trust-by-Minesota-Congressman-Charles-a-Lindbergh-Sr 20100325 - an original 1st ed, signed by author, on abebooks for $300. http://www.examiner.com/x-18425-LA-County-Nonpartisan-Examiner~y2010m4d2-American-Monetary-Institute-AMI-History-of-money-monetary-reform-public-action-1-of-6 American Monetary Institute (AMI): History of money, monetary reform, public action. 1 of 6 By: Carl_Herman The American Monetary Institute is the world’s leading organization for understanding monetary history and how to reform monetary policy. These six articles reprint AMI’s principle information, available at AMI’s website, with their express permission to share widely: 1.Explaining the need for monetary reform: the heart of our economic crisis 2.Monetary history: synopsis of Stephen Zarlenga’s The Lost Science of Money 3.How to reform our monetary system: understanding the mechanics of creating money 4.The American Monetary Act: monetary reform legislation for Congress 5.FAQ of monetary reform 6.What can Americans do for monetary reform? http://www.monetary.org/32pageexplanation.pdf Presenting the American Monetary Act (as of July 18, 2009) ©2009 American Monetary Institute, P.O. Box 601, Valatie, NY 12184 ami@taconic.net 518-392-5387 "Over time, whoever controls the money system controls the nation." Stephen Zarlenga, Director 20100422 http://www.businessinsider.com/12-reasons-americans-are-incredibly-angry-about-the-state-of-the-us-economy-2010-4 12 Reasons Americans Are Incredibly Angry About The State Of The U.S. Economy (Saved in economics/log) The U.S. economy is experiencing structural failure, and the American people are angry. They want answers. They want someone to fix things. They want things to go back to the way they used to be. But that isn't going to happen. Once the American people truly start realizing that, the anger that will erupt will dwarf what we are seeing now (Not that they aren't already incredibly steamed). The problem is simple. The American revolution not only changed politics, it changed economics. At that time, nations borrowed money from private banks at interest to put into circulation. That meant that from the first moment the public currency was issued, more money was owed to the private banks than was actually in existence. This placed the civil population and indeed the civil government under the control of the private bankers. This in turn led to massive unemployment and poverty, as Ben Franklin witnessed as the colonies' ambassador to the court of King George III. When the United States was created, the Founding Fathers took the revolutionary step of having the government create its own currency, issued interest free for the public to use. The dollar was legally defined as a weight measure of silver. This simple system allowed the American society to prosper quickly, and word began to spread to other nations that there was a rival economic system that seemed to work far better for the people than the Bank of England (i.e. the Rothschild) system. So the European banking clans, to protect their wealth and privilege, conspired to bring about the end of the American government-issued monetary system. First they goaded King George III into the war of 1812. When that failed to bring down the US monetary system the bankers changed tactics and resorted to bribing the entire US Congress and Presidents into supporting the creation of private central banks. In short, the nation has been re-enslaved to the very banking evils the Founding Fathers fought a war to remove from these shores. This has happened three times, and all three times the nation has been brought to the edge of financial ruin while the bankers poured millions and now billions in bonuses into their pockets. There have been men of real courage in the White House who tried to save the nation from the greedy bastards; those purveyors of pretty printed pieces of paper we are brainwashed into confusing with actual money. Andrew Jackson was almost assassinated after shutting down one of the previous private central banks. Abraham Lincoln's greenbacks, a direct challenge to the bankers' control over the union, were removed from circulation as soon as Lincoln was dead. John F. Kennedy was assassinated only 5 months after signing Executive Order 11110, which issued a new government currency, the "US Note" allowing Americans to avoid the Federal Reserve system entirely. Kennedy's US Notes were removed from circulation as soon as he was dead, and John J. McCloy, a banking President, was put on the Warren Commission to ensure that the official cover story of a crazed lone nut assassin became the official legend. Americans are angry because they are waking up to the realization that the banking system forced on them by the present government is the very same system the Founders of this nation fought a war to free us all from. The cries for loyalty and obedience coming from Washington DC are demanding loyalty to a system of enslavement. No matter how hard one works or sacrifices, one still ends up with a government that steals from the poor to give to the rich. The ghosts of the Founders look down on us and shake their heads in shame and wonder why they wasted so much time, money and blood only to have later generations throw it all away for iPods and American Idol. 20100713 http://www.huffingtonpost.com/2009/04/06/communities-print-own-cur_n_183497.html Local Currencies: Communities Printing Own Money To Keep Cash Flowing The original thirteen colonies printed their own currency, and it worked very well at empowering commerce and turning the young America into a powerful growing economy, free of the poverty and unemployment that even then crippled London. But the bankers of Europe, long used to private banks issuing the public currencies, were horrified by the American approach and saw it as a threat to their deeply cherished religious belief that the gods intended for he bankers to have all the wealth of the world. So, the Bank of England lobbied King George III to impose the Currency Act on the colonies, which forbade the colonies to use their own money and required them to borrow their lawful tender from the Bank of England, at interest. Within a few short years of the Currency Act, the colonies were gripped with the same poverty and unemployment as London. It was the rage from the effects of the currency act that fueled the drive towards revolution. But because the Congress in 1913 sold us back into the same style banking system, present-day schools seldom mention the currency act, preferring to lay the blame for the revolution on the Tea act and the Stamp Act, which were rather mild offenses by comparison. Previous Presidents have resorted to their constitutional authority to issue government currency to challenge the primacy of the bank notes, Abraham Lincoln and John Kennedy, both of whom were killed and their currencies removed from circulation immediately following their deaths. 20100910 http://www.poketheeye.org/?p=210 Hitler’s freedom from International Debt Slavery It is always difficult to have a discussion on the topic of WW II Germany, and Hitler, without having emotions run high. And understandably so. We do not believe that there is a world plot in place by those of the Jewish faith to dominate the world. We do however suspect that there is a plot in place by the major financiers and financial institutions, to control. WRH: This is an aspect of WW2 history we have touched on many times here at WRH. Adolf Hitler, regardless of his later failings, pulled off a major economic miracle for the German people when he kicked out the reserve-style system of banking imposed on Germany after WWI and reverted to a value-based currency issued by the government for the use of the people free of interest charges. This was the exact same system implemented by America's Founding Fathers, restored by Andrew Jackson, then later restarted by Abraham Lincoln. In the 1960s, John F. Kennedy would attempt to follow suit. The response of the bankers against Germany (and also in America) was a concerted effort to destroy the new German economy before the people of the world realized the advantages of a society without a private central bank enslaving the general populace. It was this boycott against Germany, creating starvation and hardship (much as present-day Israel imposes on Gaza) that created the anger and resentment Hitler would later use to mount WWII. In hindsight, had the bankers not tried to force their way into control of Germany's economy, WWII might well have been avoided. But no sacrifice, certainly nothing so trivial as the violent deaths of 50 million people, is too great a price to pay if it plunges the world back into the servitude of the bankers! As for America, we have had three Presidents who, like Hitler, tried to free the nation from the clutches of the private bankers, who print up money out of thin air, then loan it to the people at interest. The first was Andrew Jackson. "Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the Eternal God, I will rout you out." -- Andrew Jackson Following Jackson's annulment of the private bank charter, there was an attempted assassination which failed when both pistols failed to fire. Abraham Lincoln was not so lucky. Lincoln funded the civil war with Greenbacks issued by Lincoln with the explanation that he did not intend to free the black people by enslaving the white people to the bankers. The Greenback was so successful that Lincoln announced his intention to keep it after the war. Then Lincoln was assassinated, and Congress withdrew the greenbacks, delivering the nation and its people back into the clutches of the private central bank. John F. Kennedy signed Executive Order 11110, issuing a new silver-backed public currency called the U.S. Note. Five months later Kennedy was shot in Dallas, and in a very telling move, John J. McCloy, President of Chase Manhattan Bank and President of the World Bank, was made a member of the Warren Commission. All this suffering, all these wars, all this misery arises from a small group of individuals who have arrogated to themselves the power to print money out of thin air, then loan it to the world at full face value plus interest, drowning the planet in debt; perpetual bondage to the reality that the money owed to the bankers simply never existed in the first place. And rather than loose their grip on the people, rather than to stop sucking on the necks of their victims, the bankers will start a new World War, not even caring which side wins or loses, because wars create more debt, and imposed debt is the means of enslaving the entire planet. http://www.iraq-war.ru/article/234083 International Bankers Vs Nation-States http://www.realzionistnews.com/?p=550 IT TOOK THE ENTIRE capitalist and communist world to destroy the German revolution against internationalism and bring the entire European continent back under the heel of Jewish Bankers. 20101007 http://www.youtube.com/watch?v=2B_SxGmSJP0&feature=player_embedded The essence of the banking industry is to make us all - nations and individuals - slaves to debt. 20101011 http://www.zerohedge.com/article/three-horrifying-facts-about-us-debt-“situation” Three Horrifying Facts About the US Debt “Situation” From reader comments: The statement that the Fed has purchased a trillion dollars worth of securities is submitted to be Fed disinformation. A more correct way to say it is that the Fed has been unable to unload that value of securities (that were given to the Fed by Congress so the U.S. government could spend a trillion dollars worth of stimulus) and the Fed has been forced to eat those securities offered at the auctions rather than accept bids that were too low and would cause the interest rate to escalate. Ref. RIP-OFF BY THE FEDERAL RESERVE. The financial debacle is nothing new---except to the financial circles. INHERENT NATIONAL BANKRUPTCY was posted on the internet 6 or 7 years ago (ref. http://usa-the-republic.com/items%20of%20interest/Inherent%20National%20Bankruptcy.html or http://www.strike-the-root.com/4/carter/carter1.html among others). RIP-OFF BY THE FEDERAL RESERVE is a mathematical analysis of the fraudulent Ponzi nature of the “national debt” that is based upon the impossible concept the debt can somehow be paid off---or is a stable, perpetual economic system. The article has been circulated for some time. (ref. http://www.conspiracyarchive.com/Blog/?p=3908 or http://tickerforum.org/akcs-www?singlepost=2060699 or http://forum.webofdebt.com/viewtopic.php?f=8&t=242 20101019 http://www.informationliberation.com/?id=32548 'Dying of Money' Free Again Last July, lewrockwell.com published an article by Ambrose Evans-Pritchard called, “The Death of Paper Money.” The article mentioned a book entitled, Dying of Money. The article stated that the book cost $699 on Ebay. LRC reader Larry Nieves has been kind enough to send this pdf copy of the entire book that he found online. http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/7909432/The-Death-of-Paper-Money.html The Death of Paper Money As they prepare for holiday reading in Tuscany, City bankers are buying up rare copies of an obscure book on the mechanics of Weimar inflation published in 1974. By Ambrose Evans-Pritchard 25 Jul 2010 The Dying of Money http://www.hartgeld-forum.de/forum/files/dyingofmoney.pdf When Money Dies http://www.wolf1168.us/misc/Articles%20of%20Interest/When%20Money%20Dies.pdf http://www.trueliberty.us/Money.html There is a greater issue at the root of devaluing money and inflation, deflation, and production of currency. This essay was written a few years ago and posted only about a year or so back. It identifies the root of debt, profit, and the foundation of economy like none I have ever seen before. 20101028 http://www.youtube.com/watch?v=U71-KsDArFM The Secret of Oz (quite long doco video. 2GB) The world economy is doomed to spiral downwards until we do 2 things: outlaw government borrowing; 2. outlaw fractional reserve lending. Banks should only be allowed to lend out money they actually have and nations do not have to run up a "National Debt". Remember: It's not what backs the money, it's who controls its quantity. 20101030 http://www.webofdebt.com/articles/new_theory.php TIME FOR A NEW THEORY OF MONEY Ellen Brown, October 27th, 2010 20101128 http://www.newyorker.com/reporting/2010/11/29/101129fa_fact_cassidy?printable=true#ixzz16VMfs7ob What Good Is Wall Street? Much of what investment bankers do is socially worthless. In a recent article titled "What Do Banks Do?," which appeared in a collection of essays devoted to the future of finance, Turner pointed out that although certain financial activities were genuinely valuable, others generated revenues and profits without delivering anything of real worth—payments that economists refer to as rents. "It is possible for financial activity to extract rents from the real economy rather than to deliver economic value," Turner wrote. "Financial innovation . . . may in some ways and under some circumstances foster economic value creation, but that needs to be illustrated at the level of specific effects: it cannot be asserted a priori." Turner’s viewpoint caused consternation in the City of London, the world’s largest financial market. A clear implication of his argument is that many people in the City and on Wall Street are the financial equivalent of slumlords or toll collectors in pin-striped suits. If they retired to their beach houses en masse, the rest of the economy would be fine, or perhaps even healthier. 20110105 http://www.youtube.com/watch?v=Kv2oCXbW4r0 The American Dream Animated story of money, Rothschilds, the FED. 20110204 http://dinarvets.com/forums/index.php?/topic/52464-do-not-use-safety-deposit-boxes/?s=d021a28294a84d460d9ead8480eafdd7#ixzz1Cw2hcsU4 U.S DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS - IN WRITING - IT MAY INSPECT SAFE DEPOSIT BOXES WITHOUT WARRANT AND SIEZE ANY GOLD, SILVER, GUNS OR OTHER VALUABLES IT FINDS INSIDE THOSE BOXES! 20110221 http://www.youtube.com/watch?v=iKMmjgi2NIo http://www.youtube.com/watch?v=PycwNb72-a8 G Edward Griffin: A New Currency is Coming Soon; and The US Dollar is a Big Scam - PT. 1 & 2 http://www.youtube.com/watch?v=ZWKlz2Z4Nlo G. Edward Griffin on the Federal Reserve System 20110603 http://www.federalobserver.com/archive.php?aid=7124 The Bankers Manifesto of 1892 Revealed by US Congressman Charles A. Lindbergh, SR from Minnesota before the US Congress sometime during his term of office between the years of 1907 and 1917 to warn the citizens. "We (the bankers) must proceed with caution and guard every move made, for the lower order of people are already showing signs of restless commotion. Prudence will therefore show a policy of apparently yielding to the popular will until our plans are so far consummated that we can declare our designs without fear of any organized resistance. The Farmers Alliance and Knights of Labor organizations in the United States should be carefully watched by our trusted men, and we must take immediate steps to control these organizations in our interest or disrupt them. At the coming Omaha Convention to be held July 4th (1892), our men must attend and direct its movement, or else there will be set on foot such antagonism to our designs as may require force to overcome. This at the present time would be premature. We are not yet ready for such a crisis. Capital must protect itself in every possible manner through combination (conspiracy) and legislation. The courts must be called to our aid, debts must be collected, bonds and mortgages foreclosed as rapidly as possible. When through the process of the law, the common people have lost their homes, they will be more tractable and easily governed through the influence of the strong arm of the government applied to a central power of imperial wealth under the control of the leading financiers. People without homes will not quarrel with their leaders. History repeats itself in regular cycles. This truth is well known among our principal men who are engaged in forming an imperialism of the world. While they are doing this, the people must be kept in a state of political antagonism. The question of tariff reform must be urged through the organization known as the Democratic Party, and the question of protection with the reciprocity must be forced to view through the Republican Party. By thus dividing voters, we can get them to expand their energies in fighting over questions of no importance to us, except as teachers to the common herd. Thus, by discrete action, we can secure all that has been so generously planned and successfully accomplished." http://video.google.com/videoplay?docid=-515319560256183936 The Money Masters - How International Bankers Gained Control of America "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...Their secret is that they have annexed from governments, monarchies, and republics the power to create the world's money..." THE MONEY MASTERS is a 3 1/2 hour non-fiction, historical documentary that traces the origins of the political power structure that rules our nation and the world today. .... " http://lewrockwell.com/north/north989.html The Safe Banking Fantasy All fractional reserve banking rests on a legal promise: you can get your money out at any time. Yet the money that you deposit is loaned out by the bank. This means that your money is gone. Then how can you withdraw it at any time? Only if (1) the money is loaned out on a "repay instantly on demand" basis, or (2) hardly anyone will demand withdrawal at the same time. The bank will pay you out of its tiny slush fund for withdrawals. The first option assumes that the debtor is always in a position to repay at any time, which is of course ludicrous for most corporate and business borrowers. They will not agree to such terms. The second option is equally ludicrous during a banking crisis. 20110616 James Grant: Sentence Bernanke To DEATH WSJ Editorial from Economist James Grant Tongue-lashings from Bernie Sanders, the populist senator from Vermont, are one thing. The hangman's noose is another. Section 19 of this country's founding monetary legislation, the Coinage Act of 1792, prescribed the death penalty for any official who fraudulently debased the people's money. 20110726 http://whatreallyhappened.com/WRHARTICLES/11thmarble.php THE ELEVENTH MARBLE Any five-year old child knows that if you put ten marbles into a tin can, you can only take ten marbles back out. No amount of wishful thinking, dreaming, or praying, will yield that eleventh marble from inside that can. That eleventh marble does not exist. It never did, and it never will. All discussions about the eleventh marble are the product of imagination. The eleventh marble is a fantasy. WRH: According to Google, this article has been copied off and linked more than 67,000 times around the world. This is NOT because I am a swell guy! The Eleventh Marble illustrates in simple terms the critical design flaw lying at the heart of the Private Central Bank Debt-Based Currency model; a design flaw that guarantees that debt owed to the private bankers will always exceed the available money supply, making us slaves to the bankers. By design, more money is owed to the bankers than is actually in existence, which means the debt-slavery never ends. The trillions of dollars in debt is a fictional creation. That money never existed. It is a number made up out of thin air and written in a ledger, and its power over you only lasts as long as you believe it is a real thing. Around the world economics experts are coming to the same conclusion; the experiment with Private Central Bank Debt-Based Currency, while enriching the bankers, is a total failure as a financial system for society. It is a pyramid scheme. It is a Ponzi system. That it must inevitably crash is as inevitable as the night follows the day. There is no Eleventh Marble. There never was. You cannot be forced to surrender that which never existed in the first place. http://youtu.be/Dc3sKwwAaCU Money As Debt - Full Length Documentary Money As Debt is a fast-paced and highly entertaining animated feature by artist & videographer, Paul Grignon. It explains today's magically perverse DEBT-MONEY SYSTEM in terms that are easy to understand. http://youtu.be/ueFKD45AAW4 The Tiny Dot http://www.wtfnoway.com/ A visualization of US debt, in stacked $100 bills. 20110731 http://www.activistpost.com/2011/07/g-edward-griffin-barbaric-metal.html G. Edward Griffin: The Barbaric Metal Chapter 7 summary from 'The Creature From Jekyll Island.' Knowledge of the nature of money is essential to an understanding of the Federal Reserve. Contrary to common belief, the topic is neither mysterious nor complicated. For the purposes of this study, money is defined as anything which is accepted as a medium of exchange. Building on that, we find there are four kinds of money: commodity, receipt, fiat and fractional... 20111112 http://www.economania.co.uk/quotes.htm Good list of quotes about the banking system. http://www.rapidtrends.com/federal-reserve-planned-failure-of-the-us-economy-fiat-currency-is-not-an-accident/ 20111113 http://www.skeptically.org/wto/id6.html World Bank: Chief Economist, Stiglitz Goes Public From The Best Democracy Money Can Buy, Greg Palast, 20111120 http://www.guardian.co.uk/commentisfree/2011/nov/15/money-privatised-stealth Money has been privatised by stealth The greatest privatisation in history has gone unnoticed. It's time to take from the banks the power to produce money 20120208 http://www.zerohedge.com/news/believe-return-gold-standard-you-are-now-officially-extremist-according-fbi#comment-2135564 The US has defaulted at least six times. 1. Default of 1779. To finance the Revolutionary war, the Continental Congress printed inflationary dollars, paying their creditors only 2.6 cents on the dollar. Hence the old saying “not worth a continental”. 2. Default of 1790. The Continental Congress borrowed $11 Million. The government refused to repay any of this debt. 3. The Greenback Default of 1862. In 1861 Congress created a new currency called the greenback, $60 million worth, redeemable at any time for 4.8 ounces of gold per dollar. But in 1862 the US treasury refused to redeem in gold and issued non-redeemable notes at a 40% discount from original value. 4. The Liberty Bond Default of 1934. To finance WWar I our government sold Liberty Bonds in 1917 @ 4.25% interest payable in gold at $20.67 per ounce. By 1933 our lying government had issued $29 Billion of these bonds but had only $4.2 billion in gold. So Pres. Roosevelt confiscated every citizens’ gold making it a crime to own gold and devalued the bonds 40%. I remember my father and grandfather talking about losing their money on this default. 5. The Default of 1971. After WWar II the US printed dollars backed by gold again @$35 per ounce. But Pres. Lyndon Johnson printed so much money to finance the Vietnam War and his “Great Society Social Program that Pres. Nixon had to default on the gold redemption. Congress then went wildly insane, printing money backed only by the “Full Faith & Credit of our Lying Government.” As a result today your dollar is worth only one sixteen hundreds of its 1971 value. That is less than 1cent of an ounce of gold in purchasing power. 6. Default #6 is ongoing today. Every time the Fed prints more money, the value of the dollar goes down in relation to how much you pay for goods and services. It’s called inflation and devaluation of the dollar – a crime of treason against the American people. So the next time one of your government representatives says the US has never defaulted on its debts, tell them either they are grossly ignorant of monetary history or they’re a damn liar. --- The US government also issued gold and silver certificates in the late 19th and early 20th centuries. Try redeeming one today. Also consider the victory bonds that the US issued to finance WW2. Within 6 years after the end of the war, the dollar had lost more than 30% of its purchasing power due to the high postwar inflation. 20120210 http://demonocracy.info/infographics/usa/world_debt/images/demonocracy.info-a_world_in_debt-large.jpg http://video.google.com/videoplay?docid=5232639329002339531 FIAT EMPIRE - Why the Federal Reserve Violates the U.S. Constitution http://www.truththeory.org/ 20120729 http://unicornpoo.wordpress.com/2011/10/27/very-pleased-we-have-entered-into-relations-again-with-american-government-rothschilds-1878/ “Very pleased we have entered into relations again with American Government” -Rothschilds, 1878 In the 130+ years of making this business successful, we’ve seen the imposition of the Federal Reserve and its privately issued scrip, The IRS, the rise of the Military-Industrial Complex, numerous international wars and “police actions” and a host of other evils and ills that can be directly laid at the feet of private banking interests and their all too willing minions in our political and industrial classes. Greed is the root of all evil. This truth never changes. 20120802 http://www.zerohedge.com/contributed/2012-08-01/stunning-crimes-big-banks-worse-your-wildest-imagination Stunning Crimes of the Big Banks: Worse than Your Wildest Imagination My comment: http://www.zerohedge.com/contributed/2012-08-01/stunning-crimes-big-banks-worse-your-wildest-imagination#comment-2671186 20120807 http://www.zerohedge.com/news/guest-post-us-citizens-pay-attention 20121103 http://deanhenderson.wordpress.com/2012/11/01/when-the-rothschilds-dial-911/ When The Rothschilds Dial 911 November 1, 2012 — Dean Henderson 20130328 http://www.zerohedge.com/contributed/2013-03-27/stunning-facts-about-how-banking-system-really-works-%E2%80%A6-and-how-it-destroying- Stunning Facts About How the Banking System Really Works … And How It Is Destroying America Submitted by George Washington on 03/27/2013 20130508 http://www.iraq-war.ru/article/289984 http://therebel.org/eastman/629340-most-of-worlds-central-banks-belong-to-rothschild-through-holding-companies?acm=636_45 Most of worlds central banks belong to Rothschild through holding companies By: Dick Eastman 20130516 http://www.zerohedge.com/contributed/2013-05-15/no-bank-deposits-will-be-spared-confiscation When a customer deposits money with his banker, the relationship that arises is one of creditor and debtor, with the banker liable to repay the money deposited when demanded by the customer. Once money has been paid to the banker, it belongs to the banker and he is free to use the money for his own purpose. 20130808 http://2012thebigpicture.wordpress.com/2013/08/02/world-bank-whistleblower-all-currency-is-on-the-brink-of-collapse-audio/ World Bank Whistleblower: All Currency is on the Brink of Collapse [audio] 20130819 http://undergrounddocumentaries.com/fiat-empire-full-version/ Fiat Empire - Why The Federal Reserve Violates the Constitution This documentary with RON PAUL, G. EDWARD GRIFFIN, EDWIN VIEIRA and TED BAEHR is an excellent primer for the citizen who wants to get an understanding of how money is created and why the U.S. government is in partnership with the elite banks. 20131212 http://www.youtube.com/watch?v=iFDe5kUUyT0 The Biggest Scam In The History Of Mankind - Hidden Secrets of Money Ep 4 - Mike Maloney Very good illustration of the overall scam structure. 20140112 http://undergrounddocumentaries.com/the-international-banking-cartel/ The International Banking Cartel - A Criminal Syndicate A look at the International Banking Cartel led by the Bank for International Settlement (in Basel, Switzerland) known as the bank of central banks (58 central banks) and The US Federal reserve System. Also a look at banking tycoons: from the Rothschild family in Europe to JP Morgan and others in the US. How banks not only control governments but also appoint politicians through huge campaign donations. Governments at the service of the major banks, the best example: the Obama administration and the history’s biggest bail out of the same institutions that caused the Great Recession. 20140218 http://www.iraq-war.ru/article/304351 Bankers Can [Will] Steal Your Cash But Cannot Touch Your Gold and Silver 20140302 http://www.iamthewitness.com/books/Andrew.Carrington.Hitchcock/The.History.of.the.Money.Changers.htm The French Connection - The History of the 'Money Changers' 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. Excellent! 20140309 http://www.shtfplan.com/headline-news/this-world-bank-insider-will-blow-you-away-there-is-a-huge-global-conspiracy_03082014 This World Bank Insider Will Blow You Away: “There Is A Huge Global Conspiracy” While working for the World Bank as a member of their legal team Hudes uncovered so much corruption that she could no longer keep quiet. She followed the proper channels to report her findings, going first to the organization’s Evaluation Department and country directors, and then to the U.S. Treasury Department and even the United States Congress. All of her requests were ignored, and in some cases, completely covered up. So she did what any honest person would do. She went public. Suffice it to say, she received the typical treatment you’d expect for a whistle blower. Hudes is no longer with the World Bank, but that didn’t stop her from continuing her investigation by joining an organization of other whistle blowers. What she found once she started connecting the dots will blow you away. The corruption, as most of us know, isn’t just at the World Bank, but is woven throughout the fabric of the entirety of the global financial and political systems. 20140315 https://www.youtube.com/watch?v=P49CuntfNGk A Brief History of Money - By Deek Jackson 20140322 http://beforeitsnews.com/alternative/2014/03/banksters-admit-its-money-out-of-thin-air-2923132.html https://www.youtube.com/watch?v=CvRAqR2pAgw Banksters Admit It’s Money Out of Thin Air Commercial banks create money, in the form of bank deposits, by making new loans. When a bank makes a loan, for example to someone taking out a mortgage to buy a house, it does not typically do so by giving them thousands of pounds worth of banknotes. Instead, it credits their bank account with a bank deposit of the size of the mortgage. At that moment, new money is created. For this reason, some economists have referred to bank deposits as ‘fountain pen money’, created at the stroke of bankers’ pens when they approve loans. 20140422 http://www.michaeljournal.org/plenty49.htm Chapter 49 — The History of Banking Control in the United States 20140429 http://www.bobtuskin.com/2014/04/28/economists-seriously-discussing-the-idea-of-banning-banks/ Economists Seriously Discussing The Idea Of Banning Banks Economists have begun seriously discussing the idea of banning banks. That seems ridiculous and far-fetched, but the idea might not be as crazy as it sounds. But before we get to the idea, there’s something important that needs to be addressed, which is that people tend to have a gross misconception about what a bank does. http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf The Bank of England recently published a fantastic paper titled Money Creation In The Modern Economy (.pdf) that explains that banks — rather than serving as an intermediary between depositors and borrowers — are in the business of creating money. Here’s the basic summary of how it works: 20140502 http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1398863018 The Biggest Secret About Banking Has Just Gone Mainstream April 28, 2014 http://www.washingtonsblog.com/2014/04/truth-banks-goes-mainstream.html We’ve pointed out for 4 1/2 years that banks create money out of thin air. Specifically, it has now been conclusively proven that loans come first ... and then deposits FOLLOW. This is the most important secret about modern banking ... because it debunks one of the biggest myths preventing a strong economy, challenges one of the main pork barrel profit centers for big banks ... and opens up incredible opportunities for a prosperous economy. This odd and counter-intuitive – but crucially important – truth has now gone mainstream ... Specifically, the Financial Times’ Martin Wolf – one of the world’s most influential mainstream financial writers – says that, since banks create money out of thin air, they should be stripped of this power, and limited to normal depository functions. Wolf indicates the centrality and importance of the issue with his subtitle: The giant hole at the heart of our market economies needs to be plugged. And Business Insider – the world’s most popular financial news blog – is currently running this as its top two front page stories: 20140714 http://www.hesperianpress.com/index.php/booklist/2011-06-16-08-07-49/k-titles/184-kingdom-of-shylock The Kingdom of Shylock First published in 1917, when it was repressed. This is a reprint of the second edition. Frank Anstey (1865-1940) was a leader of the Labor Party, a committed socialist, supporter of public finance and the Commonwealth Bank, and viewed WWI as “a war of rival capitalists”. He was more right than wrong. In this age of the globalisation, of organized criminality, we need more like him who will stick to their guns against cannibalistic corporate capitalism. This is an essential reference in understanding the true Labor Party, economic power in Australia, how far we have come along the road to total financial control of our lives, and conversely how diminished is our understanding of the forces that torture us. WRH: Hesperian Press sent me a copy of this book. I read it last night. In fact I could not put it down. There, in 1917, was a clear understanding that the world was enslaved by those who held control of the monetary mediums of exchange, and how those private banking interests had driven the world into World War 1. Given the title, and the threat to the private central bankers, the book was denounced and suppressed. But is is worth the read and I will be trying to get someone from Hesperion to come onto the radio show. The lesson from this book is that politicians have indeed known all along that all wars are bankers' wars, but continue to be willing to sell your childrens' lives for a share in the bankers' treasure! 20140812 http://collectivelyconscious.net/articles/why-iceland-should-be-in-the-news-but-is-not/#.U-TEZdeFn1q.facebook Why Iceland Should Be In The News, But Is Not Some readers will remember that Iceland’s ninth century agrarian collapse was featured in Jared Diamond’s book by the same name. Today, that country is recovering from its financial collapse in ways just the opposite of those generally considered unavoidable, as confirmed yesterday by the new head of the IMF, Christine Lagarde to Fareed Zakaria. The people of Greece have been told that the privatization of their public sector is the only solution. And those of Italy, Spain and Portugal are facing the same threat. They should look to Iceland. Refusing to bow to foreign interests, that small country stated loud and clear that the people are sovereign. That’s why it is not in the news anymore. 20140828 http://www.barnhardt.biz/2014/08/28/the-gone-concern-buffer-aka-seizing-your-bank-deposits/ The "Gone Concern Buffer", aka Seizing Your Bank Deposits 20141107 http://vineyardsaker.blogspot.it/2014/11/the-european-central-bank-ecb-invented.html 20141206 http://www.informationclearinghouse.info/article40373.htm New G20 Rules: Cyprus-style Bail-ins to Hit Depositors AND Pensioners On the weekend of November 16th, the G20 leaders whisked into Brisbane, posed for their photo ops, approved some proposals, made a show of roundly disapproving of Russian President Vladimir Putin, and whisked out again. It was all so fast, they may not have known what they were endorsing when they rubber-stamped the Financial Stability Board’s “Adequacy of Loss-Absorbing Capacity of Global Systemically Important Banks in Resolution,” which completely changes the rules of banking. Russell Napier, writing in ZeroHedge, called it “the day money died.” In any case, it may have been the day deposits died as money. Unlike coins and paper bills, which cannot be written down or given a “haircut,” says Napier, deposits are now “just part of commercial banks’ capital structure.” That means they can be “bailed in” or confiscated to save the megabanks from derivative bets gone wrong. WRH: In other words, the bankers created this derivatives mess and have now rigged it so when it implodes, YOU pay the losses! 20141225 http://www.hangthebankers.com/ 20141225 http://www.infowars.com/its-official-the-worldwide-bail-ins-are-coming/ It’s Official: The Worldwide Bail-ins Are Coming On November 16, leaders of the G20 Group of Nations – the 20 largest economies – made an important decision. The world’s megabanks now have official permission to pledge depositor accounts as collateral to make leveraged derivative bets. And if they lose a bet, the counterparty to the contract has first dibs on your money. The governments of these 20 countries are now supposed to put these arrangements into law. Most, including the US, have already done so. WRH: Imagine a casino where the players are allowed to keep what they win, but if they lose, management passes the hat around to the bellhops, waitresses, desk clerks, housekeepers, and forces them to dip into their own pockets to cover the losses, so the player can go back to the tables again. The players obviously all love the arrangement; the casino workers obviously less so. This is what the G20 have just done. Every nation has now rigged their stock markets so that the winners keep their winnings, while dropping the losses onto the people, who neither play the markets nor gave their permission to such a scheme. This is the very essence of a fascist economic system. Bankers who make money keep it. Bankers who lose money force the public to cover the losses. 20141231 http://www.zerohedge.com/news/2014-12-30/rigging-triangle-exposed-jpmorgan-british-petroleum-bank-england-cartel-full-frontal The Rigging Triangle Exposed: The JPMorgan-British Petroleum-Bank Of England Cartel Full Frontal 20150114 http://politicalvelcraft.org/2012/06/03/in-the-year-2000-there-were-seven-countries-without-a-rothschild-owned-central-bank-they-were-afghanistan-iraq-sudan-libya-cuba-north-korea-and-iran/ In The Year 2000 There Were 7 Countries Without A Rothschild-Owned Central Bank: They were Afghanistan, Iraq, Sudan, Libya, Cuba, North Korea and Iran. Russia Tells United States Citizens Not To Give Up Your Guns: We Learned From Experience Fighting Rothschild’s Banking Schemes! 20150302 http://www.zerohedge.com/news/2015-03-01/how-our-crazy-money-system-works 20150402 http://www.zerohedge.com/news/2015-04-01/iceland-stuns-banks-plans-take-back-power-create-money Iceland Stuns Banks: Plans To Take Back The Power To Create Money Who knew that the revolution would start with those radical Icelanders? It does, though. One Frosti Sigurjonsson, a lawmaker from the ruling Progress Party, issued a report today that suggests taking the power to create money away from commercial banks, and hand it to the central bank and, ultimately, Parliament. 20150409 http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1428508417 BANKS TURNING ACCOUNTS OVER TO POLICE FOR SEIZURE 20121126 http://deadlinelive.info/2012/11/26/fascism-rising-eus-new-tower-of-babel/ FASCISM RISING; EU’s New Tower Of Babel, ECB ‘Palace’ To Be Tallest Building In Frankfurt, So President Can ‘View His Empire'; NEO FRANKISH EMPIRE (Very good reader comment: WHY WE ARE IN DEBT…..PERMANENTLY! By: Nick Repac ) 20150611 WHY WE ARE IN DEBT…..PERMANENTLY! By: Nick Repac (saved as text file) 20150618 http://www.zerohedge.com/news/2015-06-17/greek-debt-committee-just-declared-all-debt-illegal-illegitimate-and-odious 20150619 http://investmentwatchblog.com/banks-create-money-and-charge-you-the-interest-on-it/ Commercial banks create the money they lend out of nothing. They do not loan out the depositors' money, as they and most econ text books would have you believe. When the principle is paid back, it is deleted, because it didn't exist in the first place. https://www.scribd.com/document_downloads/260617614?extension=pdf&from=embed&source=embed MONETARY REFORM - A BETTER MONETARY SYSTEM FOR ICELAND A REPORT BY FROSTI SIGURJONSSON COMMISSIONED BY THE PRIME MINISTER OF ICELAND saved as 20150619_260617614-Iceland-Monetary-Reform.pdf 20150619 http://investmentwatchblog.com/how-australias-big-4-banks-can-sink-the-entire-economy-theyre-not-only-too-big-fail-for-australia-theyre-too-big-to-save/ How Australia’s Big 4 Banks Can Sink the Entire Economy – They’re Not Only Too Big Fail. For Australia, They’re Too Big To Save. http://wolfstreet.com/2015/06/08/australias-largest-housing-bubble-on-record-in-4-charts-sydney-melbourne/ Australia’s “Largest Housing Bubble on Record” in 4 Charts 20150623 http://www.theguardian.com/commentisfree/2014/mar/18/truth-money-iou-bank-of-england-austerity The truth is out: money is just an IOU, and the banks are rolling in it Last week, something remarkable happened. The Bank of England let the cat out of the bag. In a paper called "Money Creation in the Modern Economy", co-authored by three economists from the Bank's Monetary Analysis Directorate, they stated outright that most common assumptions of how banking works are simply wrong, and that the kind of populist, heterodox positions more ordinarily associated with groups such as Occupy Wall Street are correct. In doing so, they have effectively thrown the entire theoretical basis for austerity out of the window. http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q102.pdf Money Creation in the Modern Economy (by Bank of England) saved as 20150623_BOE_money_creation_qb14q102.pdf http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1434992785 HOW THE ARGUMENT THAT MONEY IS PRINTED OUT OF THIN AIR CAN WIN A COURT CASE http://investmentwatchblog.com/universities-teach-the-exact-opposite-of-the-truth-of-how-banks-create-loans-new-loans-are-simply-added-to-the-banks-deposit-account/ Quoting from http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q102.pdf Universities teach the exact opposite of the truth, of how banks create loans. New loans are simply ADDED to the bank’s deposit account. On page 2 of the linked article: Two misconceptions about money creation The vast majority of money held by the public takes the form of bank deposits. But where the stock of bank deposits comes from is often misunderstood. One common misconception is that banks act simply as intermediaries, lending out the deposits that savers place with them. In this view deposits are typically ‘created’ by the saving decisions of households, and banks then ‘lend out’ those existing deposits to borrowers, for example to companies looking to finance investment or individuals wanting to purchase houses. In fact, when households choose to save more money in bank accounts, those deposits come simply at the expense of deposits that would have otherwise gone to companies in payment for goods and services. Saving does not by itself increase the deposits or ‘funds available’ for banks to lend. Indeed, viewing banks simply as intermediaries ignores the fact that, in reality in the modern economy, commercial banks are the creators of deposit money. This article explains how, rather than banks lending out deposits that are placed with them, the act of lending creates deposits — the reverse of the sequence typically described in textbooks.(3) Another common misconception is that the central bank determines the quantity of loans and deposits in the economy by controlling the quantity of central bank money — the so-called ‘money multiplier’ approach. In that view, central banks implement monetary policy by choosing a quantity of reserves. And, because there is assumed to be a constant ratio of broad money to base money, these reserves are then ‘multiplied up’ to a much greater change in bank loans and deposits. For the theory to hold, the amount of reserves must be a binding constraint on lending, and the central bank must directly determine the amount of reserves. While the money multiplier theory can be a useful way of introducing money and banking in economic textbooks, it is not an accurate description of how money is created in reality. Rather than controlling the quantity of reserves, central banks today typically implement monetary policy http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q102.pdf They do not require cash deposits to make new loans. It is a mere accounting entry for the banks. 20150718 http://investmentwatchblog.com/the-little-case-that-threatened-the-entire-banking-system-free-yourself-from-their-convenient-lies-and-control/ The Little Case That Threatened the Entire Banking System. Free Yourself From Their Convenient Lies And Control! http://www.thetruthaboutthelaw.com/banks-lend-money-they-create-out-of-thin-air/ The little case that threatened the entire Banking system. 20151114 http://www.blacklistednews.com/If_We_Don%E2%80%99t_Change_the_Way_Money_Is_Created_and_Distributed%2C_Rising_Inequality_Will_Trigger_Social_Disorder/47287/0/38/38/Y/M.html IF WE DON’T CHANGE THE WAY MONEY IS CREATED AND DISTRIBUTED, RISING INEQUALITY WILL TRIGGER SOCIAL DISORDER Let’s say an individual has saved $100,000 in cash. He keeps the money in the bank, which pays him less than 1% interest. Rather than earn this low rate, he decides to loan the cash to an individual who wants to buy a rental home at 4% interest. There’s a tradeoff to earn this higher rate of interest: the saver has to accept the risk that the borrower might default on the loan, and that the home will not be worth the $100,000 the borrower owes. The bank, on the other hand, can perform magic with the $100,000 they obtain from the central bank. The bank can issue 19 times this amount in new loans—in effect, creating $1,900,000 in new money out of thin air. WRH: The question must be asked; why does the government borrow money at interest from a private central bank (the Federal Reserve) when constitutionally, it is allowed to create money as a public utility?!? The Federal Reserve is no more "Federal" that is the Federal Express, and that is a reality to which most Americans need to open their eyes, and right the heck now. 20151201 https://www.sprottmoney.com/blog/fractional-reserve-banking-is-pure-fraud-part-i-jeff-nielson.html https://www.sprottmoney.com/blog/fractional-reserve-banking-is-pure-fraud-part-ii-jeff-nielson.html Fractional-Reserve Banking is Pure Fraud, Part I - Jeff Nielson Fractional-Reserve Banking is Pure Fraud, Part II - Jeff Nielson https://www.sprottmoney.com/blog/fractional-reserve-banking-is-pure-fraud-part-iii-jeff-nielson.html Fractional-Reserve Banking is Pure Fraud, Part III - Jeff Nielson 20160118 http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1453049504 http://www.loansafe.org/iceland-sentences-26-corrupt-bankers-to-74-years-in-prison ICELAND SENTENCES 26 CORRUPT BANKERS TO 74 YEARS IN PRISON 20160311 http://www.tickld.com/x/economicsexplained?utm_source=Tickld This Woman Just Explained Economics In A Nutshell. And It's So True It Hurts. GKD: silly but fun article. The only thing it fails to grasp is that to bail out the big banks the government didn't allocate 'taxes', but rather issued some more Govt bonds - which were bought by the big banks with money conjured from nothing. 20160909 https://survivalblog.com/a-plea-to-those-still-dependant-upon-the-banking-system-by-g-s/ A Plea to Those Still Dependant Upon the Banking System, by G.S. Recently, I discovered the last local bank in the area is being bought by a bank with eight times more exposure to derivatives. As I attempted to explain the dangers of this increased exposure to my family one evening, I realized my father may have more than the current FDIC insured limit stashed in this one bank. In an attempt to make the case for him to at least spread out his savings, I have been researching the many reasons he should consider changing where his money is kept. I believe it is important for everyone to recognize the danger associated with having too much money in the banks, as well as the even greater danger of having it all in one bank. 20160909 http://www.kitco.com/commentaries/2015-06-22/If-You-Have-Money-in-a-US-Bank-Account-Be-Aware.html If You Have Money in a US Bank Account Be Aware! The Wall Street Reform and Consumer Protection Act of 2010 is better known as “The Dodd-Frank Act” to the American public. What the American public does not know about, is that it codifies a “bail-in” provision that ensures that the United States can conduct the type of bail-in that we saw in Cyprus. The bank bailouts of 2008 and 2009 will now be history as Dodd-Frank authorizes the Federal Deposit Insurance Corp. to recapitalize failed financial institutions by confiscating customers’ deposits. A bail-in takes place before a bankruptcy under current regulations, regulators would have the power to impose losses on bank depositors while leaving other creditors of similar stature, such as derivatives counter-parties untouched. If your bank goes bust then your deposits/savings will be taken from you and turned into shares of the bank. You have no say in the matter because in legal terms, as a bank depositor, you are just an unsecured creditor of the bank. 20170727 http://www.zerohedge.com/news/2017-07-25/central-bankers-are-crisis Central Bankers 'Are' The Crisis If there’s one myth - and there are many - that we should invalidate in the cross-over world of politics and economics, it‘s that central banks have saved us from a financial crisis. It’s a carefully construed myth, but it’s as false as can be. Our central banks have caused our financial crises, not saved us from them. 20180110 https://www.npr.org/sections/money/2011/04/15/135423586/when-the-u-s-paid-off-the-entire-national-debt-and-why-it-didnt-last When The U.S. Paid Off The Entire National Debt (And Why It Didn't Last)