Here’s an interesting quote from Henry Ford: “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” Do you know what he is referring to? I would guess that less than one in a thousand do.
Most believe that money is simply dollar denominated pieces of paper, printed and issued by the government. But how is it that the the number of dollars in the money supply is many multiples of that which exists as physical currency? Similarly,the popular view of banking is that money is taken in from depositors, who are paid interest, then lent back out at a higher interest. But how can money be both lent out and available for withdrawal at the same time?
Even fewer people understand the true nature of a central bank. The Federal Reserve now has a balance sheet more than $3.5 trillion. Where did this come from? Was is funded by taxpayers? The Federal Reserve is a privately held corporation. Did they earn it by selling incredibly popular goods and services? Apple computer, one of the largest and most profitable companies in the US, has cash reserves of $137 billion — a mere 4% of the Feds balance sheet. We are all familiar with Apple’s products but what do you own that was produced by the Federal Reserve?
The video, Money As Debt, answers these questions. It does so with a sufficiently engaging presentation that the average person might actually watch it. I recommend it as an introduction to the nature of money and the fractional reserve banking system. The video is not without faults. It does promote the fallacy that money issued as debt with interest cannot be repaid without expanding the money supply. I also find many of the solutions offered toward the end to be equally problematic, but the first half or so offers some interesting insight to our current monetary system.
If, by chance, you have not read “The Creature From Jekyll Island” by G. Edward Griffin, I would highly recommend it. It explains the FED and how is was thrust on us.
Agreed, “The Creature From Jekyll Island” is highly recommended reading. In a recent video promoting his new Ron Paul Channel, the former Congressman noted that he keeps a copy the book on his desk.
A lot could be said, the vid is OK for newbies.
People should grasp that king makers think differently than ordinary people. One of the first things they understood was to control money, they had to control the legal system. Judge Patterson who dismissed the silver lawsuit was on Rockefeller University Council in the 1980s. Another thing they understood was they had to be organized into assorted groups, with the most powerful group having in its ranks the management of the other groups.
“The first organization,” meaning others would follow, was organized in 1902-1903 in London and Manhattan, though it existed informally since before Colonial times (Review of Reviews, May 1902, pp557-558, wills of diamond organizer Cecil Rhodes). Alden W. Freeman, son of a treasurer of Standard Oil, surfaced in the leaked 1914 list of “The Pilgrims,” the British/American group of megabankers and central bankers running the fiat system; it features dozens of high powered attorneys like James Zirin and some highly placed judges.
Freeman was the main driving force behind the 17th Amendment, giving the financiers control over the Senate, making possible the passage of the Federal Reserve Act. The FED became the successor institution to the second United States Bank—abolished by Andrew Jackson in 1836. The main domestic power in the bank was John Jacob Astor, “landlord of New York,” who was allowed to take part in the British Opium “trade” in China.
The New York Social Register recently deleted a page stating that Astor family real estate holdings in Manhattan alone, as of 2009, topped $100 billion; Jacqueline Astor is the wife of multi-generational financier John R. Drexel IV, an official of The Pilgrims in New York (his ancestry traces to the Earls of Camoy over 700 years ago). As seen at Guide Star tax filing, Paul Volcker is a VP of The Pilgrims (who refuse to release a roster, the last leaked list dates to 1980). Volcker once said gold would fall to $5 if the US didn’t “support it at $35;” he “spiked” the Hunt silver bailout loan so as to strip them of 59MOZ silver by 1986. 1986 was also interesting as the daughter of Donald Platten (Pilgrims), head of Chemical Bank, became father in law to Alfred G. Vanderbilt Jr., whose family helped found this nearly unknown group, and who married into British aristocracy tracing back to the 16th century. The group has a London branch including Warburgs, Cecils, Kleinworts, Astors, Windsors, Rothschilds, Tukes, Sassoons, Grosvenors—families who sucked wealth out of the old worldwide British Empire. Volcker is Obama’s top economic adviser.
Since The Pilgrims Society exists to “seize the wealth necessary” (1902 article), will Volcker “advise” Obama to repeat the actions of FDR in seizing gold and silver from Americans? Our monetary issues and lack of free markets trace to this one group, “The Pilgrims,” whose sponsor is the world’s largest landowners—the British Royals, who have “visited” Obama in “his” White House (burned by our “friends and allies”), the British, on August 24, 1814. Prince Philip alone is Royal patron to over 800 organizations. No top level subversion against free markets traces to any other organization, their goal being a reinstitution of medieval feudalism.
If Obama or the next President issues Executive Order compelling forfeiture of gold and silver by private citizens, it will be issued with the President acting as their hit man. Nixon became honorary president of The Pilgrims USA almost 29 months before he closed the gold window at Treasury! The heavily documented proofs are free access at http://www.net/tss.html “The world’s most secret organization,” as the group was called, American Opinion Magazine, October 1970, page 22.
While we’re talking about bankers, let’s not forget the below, which is attributed to President Andrew Jackson, when, in 1836, he closed the second Federal Bank (est. 1816).
“The bold effort the present (central) bank had made to control the government. . . are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it.
“I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country.
“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.
“You are a den of vipers and thieves. I intend to rout you out, and by the grace of the Eternal God, will rout you out.”
The movie eventually gets around to the facts, but in a very convoluted way.
The best description of the U.S. economy can be seen here: youtube.com/watch?v=S0pQNkX8jLM
*** NOTE*** Skip forward 7 minutes. Then kick back and watch your world melt.
Also, I’m not sure about conspiracy theories, unless it’s an agreement among the greedy and stupid.
A good book to read is: The Long Short, Inside the Doomsday Machine, by Michael Lewis. This will put to rest your fears of conspiracy. Wall Street isn’t really that smart, it is simply a group of leaches sucking the live out of our country and our world.