Quoting the Federal Reserve Bank of Chicago in Modern Money Mechanics: At one time bankers were merely middle men. They made a profit by accepting gold and coins brought to them for safekeeping and lending them to borrowers. but they soon found that the receipts they issued to depositors were being used as a means of payment. (But were not actual payment) These receipts were acceptable as money since whoever held them could go to the banker and exchange them for metallic money. Then bankers discovered that they could make loans merely by giving borrowers their promises to pay (bank notes). In this way, banks began to create money. More notes could be issued than the gold and coin on hand because only a portion of the notes outstanding would be presented for payment at any one time. Enough metallic money had to be kept on hand, of course, to redeem whatever volume of notes was presented for payment. AND WHEN THEY DID NOT KEEP ENOUGH GOLD ON HAND, THEIR FRAUD WAS EXPOSED AND THEY WERE HUNG BY THE NECK! When they held only 1000 ounces of gold and issued notes for 12,000 oz., what do you suppose happend when 10% of the note holders showed up to claim their gold? “Demand deposits are the modern counterpart of bank notes. It was a small step from printing notes to making book entries to the credit of borrowers which the borrowers, in turn, could ‘spend’ by writing checks” – ibid. Creating money out of nothing was fun and profitable but the hangings caused convulsions and DEATH. How could they continue this fraud without the hangings? Well, the problem arose when too many notes were presented for redemption.What would happen if they knew that one person kept many notes in his house and they burnt his house down? There would be no problem with redeeming those notes would there? What if he had his notes hidden somewhere and they simply killed the note owner? What if they hired someone to steal the notes while he slept? What if they established a government and taxed the notes away from everybody who had them and taxed gold away from those who had gold and used that gold to settle the claims of survivors who still had notes? What if they used all of these means and still could not get the notes out of circulation fast enough, do you think they could collect more taxes if they kept the people believing that a powerful enemy might invade them and high taxes were needed to provide for a defense? Would the bankers create and sustain an “enemy” just for that purpose? We are told that Russia borrows from western banks and the Bible says: “The borrower is servant to the lender” proverbs 22:7. Do YOU think the Bible is wrong? Would you rather just think this verse is being misconstrued? Can you think of why the Russians would give up their valuable gold for paper that cost the world banking system nothing if they were not in fact servants of same? “When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time, a legal system that authorizes it and a moral code that glorifies it” -Economic Sophisms by Frederic Bastiat (1801-1850) In 1848, bankers hired a man by the name of Karl Marx to draw up a plan to perpetuate their plunder with non-redeemable notes. It is known today as the “Communist Manifesto”. The 5th plank called for the establishment of a central bank which would legalize what bankers in the establishment of a central bank which would legalize what bankers in the past were hung for, the process known as “fractional reserve banking”. The 1st, 2nd and 3rd planks call for real estate tax, income tax and inheritance tax to get their fraudulent notes out of circulation after they plunder us with them. Rebel against these taxes and you learn about the 4th plank which calls for “confiscation of property of rebels!” The 10th plank calls for “free education in public schools” so that acceptance for this system of plunder is gained at an early age. There are millions of Americans aware of most everything written here who agree that every president in this century has been owned by the bankers along with all of their appointees and employees. It seems that they fail to see the only purpose of all of those people which is to see that their masters keep creating money out of thin air to control all of us. Probably most of our Congressmen are honest people who think the President and his cabinet aim to serve the American people but the Bible tells us that no man can serve two masters. So the cabinet members, their employees and the President testify before Congress to influence legislation that will give the bankers even more control over us. In addition, they influence the news media that influences us to demand the legislation they need to control us. It IS a cancerous system! In colonial times, this country was plundered with non-redeemable paper currency known as the “Continental dollar” and the people suffered greatly under the legal tender laws that compelled them to accept nothing for something. In 1789, our Constitution was written to protect us from such inflation and the tyrannical government it makes possible. Legal tender was prohibited in Art. 1, sec 10 with the words: “No state shall pass any law impairing the obligations of contracts” AND the 5th amendment words: “…nor shall private property be taken for public use without just compensation.“For an accurate description of that period of history, please see The Mircale On Main Street by F. Tupper Saussy.” This book has the solution to our problem with inflation. It is not possible for people to control public servants when the servants print paper that the people call “money” and accept as payment for all of their labor. When they accept such paper, they cease to have servants and gain MASTERS. “Whoever controls the volume of money in any country is absolute master of all commerce and industry” -President James A. Garfield (He was shot) In the Constitution, Art 1, Sec 8, we authorized Congress to COIN money (not print it), regulate the value(weight) thereof and of foreign coin and to FIX a standard of weights and measures (for the coins). When we authorized them to borrow money, we authorized them to borrow some of the metal that they coined. Today, they only record that they borrow and there is no limit to what they can record. THAT explains why we can’t control them. He who pays the piper calls the tune! On April 2, 1792, Congress passed the MINT ACT which established gold and silver soins as the money of account and FIXED the dollar as a WEIGHT of gold or silver in coin form. They also provided a penalty of DEATH for officers of the mint who might take part in debasing our coins because they knew that counterfeithers could overthrow our Republic. It wasn’t too long before somebody divided the 480 grains in an ounce by the 24 3/4 grains in the dollar of gold and came up with a “price” of gold in dollars per ounce which is little different than dividing the number of ounces in a gallon by the number of ounces in a pint and obtaining the price of milk! Nevertheless, gullible citizen accepted this bit of legerdemain entity rather than a measure of weight fixed by Congress. It was just a matter of time before the people believed that entity was a piece of paper. It it were, wouldn’t 10 dollars have to be 10 pieces of paper? The day of infamy was Dec 23, 1913, when Congress passed the Federal Reserve Act and, in omplementing this 5th plank of Karl Marx’s communist manifesto, they legalized what bankers in the past had been hung for. Though we authorized Congress to provide penalties for counterfeiting, this infamous act provided presses, paper, ink and labor for counterfeiting by government. To control the volume of counterfeit used by its victims, the 16th amendment was passed in the same year, i.e. Marx’s 2nd plank, a progressive income tax. For details of the skullduggery involved in these two pieces of legislation see “None Dare Call it Conspiracy by Gary Allen“. It is an excellent book for one buck even though Allen prints the banker’s sophistic reason for the tax: “To pay the interest on the debt”. Its true purpose was written by economist John Maynard Keynes in Economic Consequences of the Peace: “If governments should refrain from regulation (of our consumption) the worthlessness of the money becomes apparent and the fraud upon the public can be concealed no longer” After all, what good are 200 million slaves who consume all they produce? Careful observation of the legislation promoted these days indicate that our subrosa government’s total efforts are in finding even more ways to regulate our consumption even if they have to kill us to do it. The diabolical thing about it is that they use their controlled press to get us to demand the legislation they need to control us-be it for taxation, fluoridation, busing or whatever.
Posted on: Tue, 01 Oct 2013 23:50:27 +0000
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