J P Morgan and the Crash of 1907 ... During the early 1900s men like J P Morgan led the charge: one final panic would be necessary to focus the nation’s attention on the supposed need for a central bank. ibid.
Morgan decided it was time to try for a central bank again. ibid.
Banking power was further consolidated into the hands of a few large banks. ibid.
The panic of 1907 was really just a scam. ibid.
Some of the wealthiest and most powerful men in America boarded Senator Aldrich’s private railcar and in the strictest secrecy journeyed to this place – Jekyll Island. ibid.
These credits are based on nothing – the Fed just creates them. ibid.
The Fed’s great contraction in the early 1930s would cause the Great Depression. ibid.
The money-changers were poised to install their privately owned central bank once more. ibid.
A privately owned central bank creates the principle out of nothing. ibid.
Some critics claim the 16th amendment [income tax] was never ratified. ibid.
The major newspapers which they also owned hailed passage of the Federal Reserve act of 1913. ibid.
In America J P Morgan was the sales agent for war materials to both the British and the French. ibid.
Why would some of the richest men in the world financially back communism? ibid.
The new world government proposal was given top priority at the Paris Peace Conference after World War I. ibid.
The rip-off of the ages was about to precede: in 1935 once the gold had all been turned in, the official price of gold was suddenly raised. ibid.
If we don’t understand that the gold has been stolen we’ll allow ourselves to be stampeded into the wrong solution – a gold-backed currency. ibid.
By 1971 all the pure gold had been secretly removed from Fort Knox, drained back to London. ibid.
The money-changers pushed forward a proposal for world government. ibid.
A radical transfer or power is taking place as national become subservient to a supra-national world central bank controlled by a handful of the world’s richest bankers. ibid.
The Fed’s record of stabilising the economy shows it to be a miserable failure. ibid.
1) Pay off the debt with debt free US notes ... 2) Abolish fractional reserve banking ... 3) Repeal the Federal Reserve Act. ibid.
The only solution is to abolish the Fed and the fractional banking system. ibid.
The vast majority of money is not created by the Mint; it is created in huge amounts every day by private corporations known as banks. Paul Grignon, Money as Debt I, 2006
Banks create the money they loan. ibid.
Privately created bank credit is legally convertible to government issued fiat currency. ibid.
Money is literally created as debt. New money is created whenever anyone takes a loan from the bank. ibid.
Banks loan money they do not have! ibid.
No loans = no money: which is what happened in the Great Depression. ibid.
Can this really go on for ever? Is not a collapse inevitable? ibid.
Government debt is a major component of the total debt, and servicing that debt takes a big chunk of our taxes. ibid.
Why create money as debt at all? ibid.
Is it a conspiracy? ibid.
The entire world economy now runs on a system of credit provided by banks. And when that credit system breaks down everyone suffers. Paul Grignon, Money as Debt II: Promises Unleashed
The account is a promise to pay, not the money itself. ibid.
The banking system functions as one bank. ibid.
Banks differ from counterfeiters in that the banks are legally allowed to create new money, but only by certain rules of accounting. ibid.
Almost all the money in existence today is bank credit. ibid.
Virtually every dollar comes into existence as debt. ibid.
An obvious problem with our current financial system is that it rewards greed and corruption. Greed and corruption seem to be everywhere. Paul Grignon, Money as Debt III: Evolution Beyond Money
In our current bank credit as money system the principle amount of a bank loan is simply created from the borrower’s promise to pay back the principle plus the interest in money. ibid.
Flow is the real measure of economic activity. ibid.
The real value of the money that flows in our economy today is created by our promises of future productive work. ibid.
Almost all money is bank credit: debt money. ibid.
The Day of Reckoning can be pushed back but only by passing the debt to generations yet unborn. ibid.
Gold is inconvenient ... Why any single commodity? ... It makes the value of money exclusively dependent on the quantity of that one commodity. ibid.
We use national fiat currencies and bank promises. ibid.
Only the richest 10% come out ahead. ibid.
About 95% of all money is bank credit. ibid.
Money in reality is just an accounting of debt. ibid.
The bank assets lost were promises to pay legal tender the banks never had. ibid.
The bailout scam was the biggest daylight robbery in the history of the world. So far. ibid.
The basis of freedom is essentially the freedom to exchange. ibid.
This ever growing national debt expands the money supply when new money is created by the central bank to buy more government debt. ibid.
Witnessing government performance to date many people believe that returning the full power to create money to corrupt incompetent politicians will not only fail to solve our problems it would be the height of insanity. ibid.
Pure fiat money in a free market is an illusion. There is no such thing. ibid.
Digital coins could be passed from one owner to another, peer to peer. ibid.
The all-inclusive self-issued credit system. ibid.
Money created as money-debt only works with perpetual growth of debt. ibid.
Money becomes money by acceptance. ibid.
Our money does not have to be in the form of loans to or from a bank. ibid.
Money as a single uniform commodity is the root of the problem. ibid.
Think about taking back money power with self-issued credit. ibid.
Right after the civil war there was considerable talk about reviving Lincoln’s brief experiment with the constitutional money system. Had not the European money-trust intervened, it would have no doubt become an established institution. W Cleon Skousen
I was secretive – indeed as furtive – as any conspirator. Frank Verderlip
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 was finally adopted. Frank Vanderlip
Now we are able to dominate the bank reserves of the entire country. Nelson Aldrich
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. Salmon P Chase
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. Wright Patman
If our nation can issue a dollar bond, it can issue a dollar bill. Thomas Edison
It is absurd to say that our country can issue $30 million in bonds and not $30 in currency. Both are promises to pay, but one promise fattens the usurers and the other helps the people. Thomas Edison