The History of the “Money Changers”
By Andrew Hitchcock, 26 Feb 2006.

He also wrote the Rothschild timeline.
Here is an illustrated version of this timeline.

Economists continually try and sell the public the idea that recessions or depressions are a

natural part of what they call the “business cycle”.

This timeline below will prove that is simply not the case. Recessions and depressions only

occur because the Central Bankers manipulate the money supply, to ensure more and more is in

their hands and less and less is in the hands of the people.

Central Bankers developed out of money changers and it is with these people we pick the

story up in 48 B.C. below.

48 B.C. Julius Caesar took back from the money changers the power to coin money and then

minted coins for the benefit of all. With this new, plentiful supply of money, he

established many massive construction projects and built great public works. By making money

plentiful, Caesar won the love of the common people.
But the money changers hated him for it and this is why Caesar was assassinated.

Immediately after his assassination came the demise of plentiful money in Rome, taxes

increased, as did corruption.

Eventually the Roman money supply was reduced by 90 per cent, which resulted in the common

people losing their lands and homes.

30 A.D. Jesus Christ in the last year of his life uses physical force to throw the money

changers out of the temple. This was the only time during the the life of his ministry in

which he used physical force against anyone.
When Jews came to Jerusalem to pay their Temple tax, they could only pay it with a special

coin, the half-shekel. This was a half-ounce of pure silver, about the size of a quarter. It

was the only coin at that time which was pure silver and of assured weight, without the

image of a pagan Emperor, and therefore to the Jews it was the only coin acceptable to God.

Unfortunately these coins were not plentiful, the money changers had cornered the market on

them, and so they raised the price of them to whatever the market could bear. They used

their monopoly they had on these coins to make exorbitant profits, forcing the Jews to pay

whatever these money changers demanded.

Jesus threw the money changers out as their monopoly on these coins totally violated the

sanctity of God's house. These money changers called for his death days later.

1024 The money changers had control of Medieval England's money supply and at this time were

generally known as goldsmiths. Paper money started out and this was simply a receipt you

would get after depositing gold with a goldsmith, in their safe rooms or vaults. This paper

started being traded as it was far more convenient than carrying round a lot of heavy gold

and silver coins.
Over time, to simplify the process, the receipts were made to the bearer, rather than to the

individual depositor, making it readily transferable without the need for a signature. This,

also, broke the tie to any identifiable deposit of gold.

Eventually the goldsmiths recognized that only a fraction of depositors ever came in and

demanded their gold at any one time, so they found out how they could cheat on the system.

They started to issue more receipts than they had gold to back those receipts and no one

would be any the wiser. They would loan out these receipts which were not backed by the

gold they had in their depositories and collect interest on them.

This was the birth of the system we know today as Fractional Reserve Banking, and like this

system of today this meant the goldsmiths were able to make astronomical amounts of money by

loaning out, what was essentially fraudulent receipts, as they were for gold the goldsmiths

didn't even possess. As they gradually got more confident they would loan out up to 10

times the amount they had in their deposits.

To simplify how they made money on this, let's give an example in which a goldsmith charges

the same rate of interest to creditors and debtors. In this example a goldsmith would pay

interest of 6% on gold you had deposited with them, and then charge 6% interest on money, I

mean fraudulent receipts, you borrowed from them. As they would lend out ten times what you

had deposited with them, whilst they're paying you 6% interest, they are making 60%

interest. This is on your gold.

The goldsmiths also discovered that their control of this fraudulent money supply gave them

control over the economy and the assets of the people. They exacted their control by rowing

the economy between easy money and tight money.

The way they did this was to make money easy to borrow and therefore increase the amount of

money in circulation, then suddenly tighten the money supply, taking it out of circulation

by making loans more difficult to get or stopping offering them altogether.

Why did they do this? Simple, because the result would be a certain percentage of the

people being unable to repay their previous loans, and not having the facility to take out

new ones, so they would go bankrupt and be forced to sell their assets to the goldsmiths for

literally pennies on the dollar.

This is exactly what happens in the world economy of today, but is referred to with words

like, "the business cycle," "boom and bust," "recession," and "depression," in order to

confuse the population of the money changers scam.

1100 King Henry I succeeds King William II to the throne of England. During his reign he

decided to take the power the money changers had over the people, and he did this by

creating a completely new form of money that took the form of a stick! This stick was

called, a "talley stick," and ended up being the longest lasting form of currency, lasting

726 years until 1826 (even though other currencies came and went in that same period and ran

alongside the talley sticks).

The talley stick was a stick of polished wood into which notches were cut along one side, to

indicate the denomination of money the stick represented. The stick was then split

lengthwise through the notches, so that both pieces had a record of the notches. The King

kept one half to protect against counterfeiting and the other half was spent into the

economy and circulated as money.

It was also one of the most successful money systems in history, as the King demanded that

all the King's taxes had to be paid in, "talley sticks," so this increased their circulation

and acceptance as a legitimate form of money. This system would work well in keeping the

power away from the money changers in England.

1225 St. Thomas Aquinas is born, the leading theologian of the Catholic Church who argued

that the charging of interest is wrong because it applies to "double charging," charging for

both the money and the use of the money.

This concept followed the teachings of Aristotle that taught the purpose of money was to

serve the members of society and to facilitate the exchange of goods needed to lead a

virtuous life. Interest was contrary to reason and justice because it put an unnecessary

burden on the use of money.

Thus, Church law in Middle Ages Europe forbade the charging of interest on loans and even

made it a crime called, "usury."

1509 King Henry VIII succeeds King Henry VII to the throne in England. During his reign he

relaxed the laws regarding usury, and and the money changers did not waste any time in

re-asserting themselves over the population. They quickly made their gold and silver coin

system plentiful again. It is interesting to note that under King Henry VIII the Church of

England separated from Roman Catholicism, whose Church law prevented the charging of

interest on money.
1553 Queen Mary I succeeds Lady Jane Grey's nine day reign to the throne in England. During

her reign, Queen Mary I, a staunch Catholic, tightened the usury laws again. The money

changers were not amused and in revenge they tightened the money supply by hoarding gold and

silver coins and causing the economy to plummet.
1558 Queen Elizabeth I succeeds Queen Mary I, her half sister, to the throne in England.

During her reign, Queen Elizabeth I decided that in order to wrest control of the money

supply she would have to issue her own gold and silver coins. She did this through the

public treasury and successfully took control of the money supply from the money changers.
1609 The money changers in the Netherlands establish the the first central bank in history,

in Amsterdam.
1642 Oliver Cromwell is financed by the money changers for the purposes of fomenting a

revolution in England, and allowing them to take control of the money system again. After

much bloodshed, Cromwell finally purges the parliament, overthrows King Charles I and puts

him to death in 1649.
The money changers immediately consolidate their power and for the next few decades plunge

Great Britain into a costly series of wars. They also take over a square mile of property

in the center of London which becomes known as the City of London.

1688 The money changers in England following a series of squabbles with the Stuart Kings,

Charles II (1660 - 1685) and James II (1685 - 1688), conspire with their far more successful

money changing counterparts in the Netherlands, who had already set up a central bank there.
They decide to finance an invasion by William of Orange of Netherlands who they sound out

and establish will be more favorable to them. The invasion is successful and William of

Orange ascends to the throne in England as King William III in 1689.

1694 Following a costly series of wars over the last 50 years, English Government officials

go, cap in hand, to the money changers for loans necessary to pursue their political

purposes. The money changers agree to solve this problem in exchange for a government

sanctioned privately owned bank which could issue money created out of nothing.
This was deceptively named the, "Bank of England," for the sole purpose of duping the

general public into believing it was part of the government, which it was not.

Like any other private corporation the Bank of England sold shares to get started. The

private investors, whose names were never revealed, were supposed to put up £1,250,000 in

gold coins to buy their shares in the bank, but only £750,000 was ever received. Despite

that the bank was duly chartered and began loaning out several times the money it supposedly

had in reserves, all at interest.

Although the Bank of England's private investors were never revealed, one of the Directors,

William Paterson, stated,

"The Bank hath benefit of interest on all monies which it creates out of nothing.”

Furthermore the Bank of England would loan government officials as much of the new currency

as they wanted, as long as they secured the debt by direct taxation of the British people.

The Bank of England amounted to nothing less than the legal counterfeiting of a national

currency for private gain, and thus any country that would fall under the control of a

private bank would amount to nothing more than a plutocracy.

Soon after the Bank of England was formed it attacked the talley stick system, as it was

money outside of the power of the money changers, just as King Henry I had intended it to

be.

1698 Following four years of the Bank of England, their plan to control the money supply had

come on in leaps and bounds. They had flooded the country with so much money that the

Government debt to the Bank had grown from the initial £1,250,000, to £16,000,000, in only

four years. That's an increase of 1,280%.
Why do they do it? Simple, if the money in circulation in a country is £5,000,000, and a

central bank is set up and prints another £15,000,000, stage one of the plan, sends it out

into the economy through loans etc, than this will reduce the value of the initial

£5,000,000 in circulation before the bank was formed. This is because the initial £5,000,000

is now only 25% of the economy. It will also give the bank control of 75% of the money in

circulation with the £15,000,000 they sent out into the economy.

This also causes inflation which is the reduction in worth of money borne by the common

person, due to the economy being flooded with too much money, an economy which the Central

Bank are responsible for. As the common person's money is worth less, he has to go to the

bank to get a loan to help run his business etc, and when the Central Bank are satisfied

there are enough people with debt out there, the bank will tighten the supply of money by

not offering loans. This is stage two of the plan.

Stage three, is sitting back and waiting for the debtors to them to go bankrupt, allowing

the bank to then seize from them real wealth, businesses and property etc, for pennies on

the dollar. Inflation never effects a central bank in fact they are the only group who can

benefit from it, as if they are ever short of money they can simply print more.

1757 Benjamin Franklin travels to England and would spend the next 18 years of his life

there until just before the start of the American Revolution.
1760 Mayer Amschel Bauer changes him name to Mayer Amschel Rothschild and sets up the, House

Of Rothschild, and soon learns that if he loans out money to Governments and Royalty then

this is far more profitable than loaning to individuals. This is because the loans made are

bigger and backed by their nations' taxes. He trains his five sons in the art of money

creation.
1764 Benjamin Franklin is asked by officials of the Bank of England to explain the

prosperity of the colonies in America. He replies,

"That is simple. In the Colonies we issue our own money. It is called Colonial Scrip. We

issue it in proper proportion to the demands of trade and industry to make the products pass

easily from the producers to the consumers. In this manner creating for ourselves our own

paper money, we control its purchasing power, and we have no interest to pay no one."

As a result of Franklin's statement, the British Parliament hurriedly passed the Currency

Act of 1764. This prohibited colonial officials from issuing their own money and ordered

them to pay all future taxes in gold or silver coins. Referring to after this act was

passed, Franklin would state the following in his autobiography,

"In one year, the conditions were so reversed that the era of prosperity ended, and a

depression set in, to such an extent that the streets of the colonies were filled with the

unemployed...The colonies would gladly have borne the little tax on tea and other matters

had it not been that England took away from the colonies their money which created

unemployment and dissatisfaction.

The viability of the colonists to get power to issue their own money permanently out of the

hands of King George III and the international bankers was the prime reason for the

revolutionary war."

Control of America's money system will change hands 8 times since 1764.

1775 April 19th, start of the revolutionary war in Lexington, Massachusetts. By this time

the colonies had been drained of silver and gold coins as a result of British taxation. As

a result of this, the continental government had no choice but to print money to finance the

war.
At the start of the revolution the American money supply stood at $12,000,000. By the end

of the war it was nearly $500,000,000 and as a result the currency was virtually worthless.

An example of this is that a pair of shoes now sold for $5,000 dollars. This also shows the

danger of printing too much money. The reason Colonial Scrip had worked was because just

enough was used to facilitate trade.

1781 Towards the end of the American Revolution the Continental Congress were desperate for

money, so they allowed Robert Morris, their Financial Superintendent, to open a privately

owned central bank, in the hope this would sort out the money problem.
Morris was a wealthy man who had grown wealthier during the revolution by trading in war

materials. This first central bank in America was called the Bank of North America, which

was set up with a four year charter, and was closely modeled after the Bank of England. It

was allowed to practice the fraudulent system of fractional reserve banking, so it could

create money it didn't have, then charge interest on it.

The bank's charter called for private investors to put up $400,000 of initial capital, which

Morris found himself unable to raise. Nevertheless he unashamedly used his political

influence to have gold deposited in the bank, which had been loaned to America by France.

Morris then loaned the money he needed to buy this bank from this deposit of gold that

belonged to the government, or rather the American people.

This Bank of North America, again deceptively named so the common people would believe it

was under the control of the government, was given a monopoly over the national currency.

1785 Despite the promises of Robert Morris that his privately owned Bank of North America

would solve the problem with the money supply, of course the economy continued to plummet,

forcing the Continental Congress not to renew the bank's charter. The leader of the effort

to kill this bank was William Findlay of Pennsylvania, who stated,

"This institution, having no principle but that of avarice, will never be varied in its

objective...to engross all the wealth, power and influence of the state."

Mayer Amschel Rothschild moves his family home to a five storey home in Frankfurt, Germany,

which he shares with the Schiff family, (a descendant of both Rothschild and Schiff, Jacob

Schiff, who would be born in this house, would, some 128 years later, be instrumental in the

setting up of the Federal Reserve).

1787 Colonial leaders assemble in Philadelphia to replace the Articles of Confederation with

the Constitution. Governor Morris headed the final draft of the Constitution and he knew

the motivation of the bankers well as he had once worked for them. Governor Morris along

with his former boss Robert Morris, and Alexander Hamilton had presented the original plan

for the Bank of North America to the Continental Congress, in the final year of the

Revolution.
Fortunately Governor Morris by this time had discovered his conscience, defected from Robert

Morris, and in a letter to James Madison dated July 2nd of this year he stated,

"The rich will strive to establish their dominion and enslave the rest. They always did.

They always will...They will have the same effect here as elsewhere, if we do not, by the

power of government, keep them in their proper spheres."

James Madison was opposed to a privately owned central bank after seeing the exploitation of

the people by the Bank of England. Thomas Jefferson was also against it, and Jefferson

later made the following statement,

"If the American people ever allow private banks to control the issue of their currency,

first by inflation, then by deflation, the banks and the corporations which grow up around

them will deprive the people of all property until their children wake up homeless on the

continent their fathers conquered."

Sadly the words of wisdom of Governor Morris and Thomas Jefferson fell on deaf ears.

Alexander Hamilton, Robert Morris and Thomas Wyling, convinced the the bulk of the delegates

to this Constitutional convention, not to give Congress the power to issue paper money.

They were aware that most of these delegates were still reeling from the wild inflation of

the paper money during the revolution. These delegates also had short memories and didn't

remember how well Colonial Scrip had worked before the war, or Benjamin Franklin's words of

wisdom in 1764.

As a result the Constitution was silent on the issue of paper money by the Government for

the citizens, leaving a wide open door for money changers in the future.

1790 Less than 3 years after the Constitution had been signed, the newly appointed First

Secretary of the Treasury, Alexander Hamilton, proposed a bill to the Congress calling for a

new privately owned central bank. Interestingly, Alexander Hamilton's first job after

graduating from law school in 1782 was as an aide to Robert Morris, a man who he had written

to in 1781 stating, "a national debt if it is not excessive will be to us a national

blessing."
1791 The three main players behind the Bank Of North America were: Robert Morris; Alexander

Hamilton; and the Bank's President, Thomas Willing. These men did not give up and Alexander

Hamilton, now Secretary of the Treasury, a man who described Robert Morris as his, "mentor,"

managed to get a new privately owned central bank through the new Congress.
This new bank was called the, "First Bank of the United States," and was exactly the same as

the Bank of North America. Robert Morris controlled it, Thomas Willing was the Bank's

President, only the name had changed.

This bank came into being after a year of intense debate and was given a 20 year charter.

It was given a monopoly on printing United States currency even though 80% of it's stock was

held by private investors. The other 20% was purchased by the United States government, but

this was not to give it a piece if the action, but to provide the capital for the private

investors to purchase the other 80%.

As with the Bank of England and the old Bank of North America, these private investors never

paid the full agreed amount for their shares. What happened was through the fraudulent

system of fractional reserve banking, the government's 20% stake which was $2,000,000 in

cash, was used to make loans to its private investors to purchase the other 80% stake,

£8,000,000, for this risk free investment.

Again like the Bank of England and the old Bank of North America, the name, "First Bank of

the United States," was deliberately chosen to hide from the common people the fact that it

was privately owned. The names of the investors in this bank were never revealed, although

it is now widely believed that the Rothschilds were behind it.

Interestingly in 1790 when Alexander Hamilton proposed this bank in Congress, Mayer Amschel

Rothschild made the following statement from his bank in Frankfurt, Germany, "Let me issue

and control a nation's money and I care not who writes the laws."

1796 The First Bank of the United States has been controlling the American money supply for

5 years. During this time the American Government has borrowed $8,200,000 from this Central

Bank, and prices in the country have increased by 72%. In relation to this, Thomas

Jefferson, then Secretary of State stated,

"I wish it were possible to obtain a single amendment to our constitution taking from the

Federal Government their power of borrowing."

1798 Mayer Amschel Rothschild sends his son, Nathan, at the age of 21, to England with a sum

of money equivalent to £20,000, to set up a money changers there.
1800 In France, the Bank of France was set up. However Napoleon decided France had to break

free of the debt and he therefore never trusted this bank. He declared that when a

government is dependent on bankers for money, it is the bankers and not the government

leaders that are in control. He stated,
"The hand that gives is among the hand that takes. Money has no motherland, financiers are

without patriotism and without decency, their sole object is gain."

1803 Now President Thomas Jefferson, President Jefferson struck a deal with Napoleon in

France. The United States would give Napoleon $3,000,000 of gold in exchange for a huge

chunk of territory west of the Mississippi River. This was called the Louisiana purchase.
Napoleon used this gold to put together an army. He then used this army to set off across

Europe where he began to conquer everything in his path. The Bank of England quickly rose

to oppose Napoleon and financed every nation in his path, as usual profiteering from war.

Prussia, Austria, and then finally Russia all went heavily into debt in a futile attempt to

stop Napoleon.

1807 30 year old Nathan Rothschild, head of the English branch of the family in London,

personally takes charge of a plan to smuggle a much needed shipment of gold through France

to Spain to finance an attack by the Duke Of Wellington on Napoleon, from there.
1811 A bill was put before Congress to renew the charter of the First Bank of the United

States. The legislatures of both Pennsylvania and Virginia pass resolutions asking Congress

to kill the bank. The national press openly attack the bank calling it: a great swindle; a

vulture; a viper; and a cobra.
Nathan Rothschild gets in on the act and makes the following revealing statement as to who

was really behind the First Bank of the United States,

“Either the application for renewal of the charter is granted, or the United States will

find itself involved in a most disastrous war.”

When the smoke had cleared the renewal bill was cleared by a single vote in the house and

was deadlocked in the Senate. At this point America's fourth President, President James

Madison was in the White House. He was a staunch opponent of the bank and he sent his

Vice-President, George Clinton, to break a tie in the Senate which killed the bank.

1812 As promised by Nathan Rothschild, because the charter for the First Bank of the United

States is not renewed, thousands have to die and the British attack America. However, as

the British are still busy fighting Napoleon, they are unable to mount much of an assault

and the war ends in 1814 with America undefeated.
1814 Wellington's attacks from the South and other defeats eventually forced Napoleon to

abdicate and Louis XVIII is crowned King. Napoleon is exiled to the tiny island of Elba,

off the coast of Italy.
1815 Napoleon escapes his exile and returns to Paris. French troops were sent to capture

him, but he uses his charisma to convince these soldiers to rally round him, and they

subsequently hail him as their emperor once again. In March, Napoleon assembles an army

which England's Duke of Wellington defeated less than 90 days later at Waterloo.
Even though the outcome is predetermined, these bankers don't like to take any sort of risk,

they're too used to a monopoly. Therefore Nathan Rothschild sent a trusted courier named

Rothworth to Waterloo where he stayed on the edge of the battlefield. Once the battle was

decided, Rothworth took off for the Channel, and delivered the news of Wellington's victory

to Nathan Rothschild a full 24 hours before Wellington's own courier.

Nathan Rothschild hurried to the London Stock market and stood in his usual position. All

eyes were on him as Rothschild had a legendary communications network. Rothschild stood

there looking forlorn and suddenly started selling. The other traders believed that this

meant he had heard that Napoleon had won so they all started selling frantically.

The market subsequently plummeted, soon everyone was selling their consuls (British

Government Bonds), but then Rothschild secretly started buying them all up through his

agents on the floor, for a fraction of what they were worth only hours before. A lot of

these consuls were able to be converted to Bank of England stock, which is how Rothschild

took over the control of the Bank of England and therefore the British money supply.

Interestingly, 100 years later, the New York Times ran a story stating that Nathan

Rothschild's grandson had attempted to secure a court order to suppress a book with this,

what we would call today, "insider trading," story in it. The Rothschild family claimed the

story was untrue and libelous, but the court denied the Rothschilds request and ordered the

family to pay all court costs.

Nathan Rothschild openly brags that in his 17 years in England he had increased his initial

£20,000 stake given to him by his father, 2500 times to £50,000,000.

Some people ask, why do bankers want war? Simple, bankers finance both sides in a war.

They do this because war is the biggest debt generator of them all. A nation will borrow

any amount for victory, even though the banks have already predetermined the outcome. The

ultimate loser is loaned just enough money to hold out a vain hope of victory and the

ultimate winner is given enough to ensure that he does win.

How do the banks ensure they will get all their money back? Easy, such loans are given on

the guarantee that the victor will honor the debts of the vanquished. Never mind the

thousands of troops that give their lives on the pretext it is for the honor of their

respective nations, when it is actually for the profits of bankers.

In fact, during the period between the founding of the Bank of England in 1694 and

Napoleon's defeat at Waterloo this year, England had been at war for 56 years, with much of

the remaining time spent preparing for war. If it's a good business for bankers' profits,

then why change it.

1816 The American Congress passes a bill permitting yet another privately owned central

bank. This bank was called the, "Second Bank of the United States," and it's charter was a

carbon copy of that of its predecessor, the First Bank of the United States. The United

States government would once again supposedly own 20% of the shares of the bank.
Their share was again paid up front into the bank and thanks to fraudulent fractional

reserve lending, this was transformed into loans to the private investors who once again

purchased the remaining 80% of the shares. Just as before the names of these investors was

kept a secret.

1826 The talley stick is taken out of circulation in England.
1828 After 12 years during which the Second Bank of the United States, ruthlessly

manipulated the American economy to the detriment of the people but to the benefit of their

own money grabbing ends, the American people had unsurprisingly had enough. Opponents of

this bank nominated Senator Andrew Jackson of Tennessee to run for President.
To the dismay of the money changers, Jackson won the Presidency and made it quite clear he

intended to kill this bank at his first opportunity. He started out during his first term

in office, to root out the banks many minions from government service. To illustrate how

deep this cancer was rooted in government, he fired 2,000 of the 11,000 employees of the

Federal Government.

1832 The Second Bank of the United States, ask Congress to pass a renewal of the bank's

charter, four years early. Congress complied and sent the bill to President Jackson for

signing. President Jackson vetoed this bill and in his veto message he stated the

following,

"It is not our own citizens only who are to receive the bounty of our Government. More than

eight millions of the stock of the Bank are held by foreigners...Is there no danger to out

liberty and independence in a bank that in its nature has so little to bind it to our

country?

Controlling our currency, receiving our public moneys, and holding thousands of our citizens

in dependence ...would be more formidable and dangerous than a military power of the enemy.

If government would confine itself to equal protection, and, as Heaven does its rains,

shower the favor alike on the high and the low, the rich and the poor, it would be an

unqualified blessing.

In the act before me there seems to be wide and unnecessary departure from these just

principles."

In July, Congress was unable to override President Jackson's veto. President Jackson then

stood for re-election and for the first time in American history he took his argument

directly to the people by taking his re-election campaign on the road. His campaign slogan

was, "Jackson And No Bank!"

Even though the bankers poured over $3,000,000 into President Jackson's opponent, the

Republican, Senator Henry Clays' campaign, President Jackson was re-elected by a landslide

in November. President Jackson knew the battle was only beginning however, and following

his victory he stated,

"The hydra of corruption is only scotched, not dead!"

1833 President Jackson appoints Roger B. Taney as Secretary of State for the Treasury, with

instructions to start removing the government's deposits from the Second Bank of the United

States. President Jackson's previous two Secretaries of State for the Treasury, William J.

Duane and Louis McLane had both refused to comply with President Jackson's request and were

fired as a result.
However the head of the, Second Bank of the United States, Nicholas Biddle, used his

influence to get the Senate to reject Roger B. Taney's nomination and even threatened to

cause a depression if the Bank was not re-chartered. Biddle stated,

"This worthy President thinks that because he has scalped Indians and imprisoned judges, he

is to have his way with the Bank. He is mistaken."

Biddle then went on to brazenly admit that the bank was intending to make money scarce in

order to force the hand of Congress into re-chartering the bank. He stated,

"Nothing but widespread suffering will produce any effect on Congress...Our only safety is

pursuing a steady course of firm restriction - and I have no doubt that such a course will

ultimately lead to restoration of the currency and re-charter of the Bank."

What Biddle has done with that statement is prove to the world what central banks were

really about. He made good on his word, and the Second Bank of the United States, sharply

contracted the money supply by calling in old loans and refusing to issue new ones.

Naturally a financial panic ensued, followed by America being plunged into a deep

depression.

Biddle then unashamedly blamed President Jackson for the crash, claiming that it was

Jackson's withdrawal of federal funds that had caused it. This crash plunged wages and

prices, unemployment soared along with business bankruptcies. The United States was in

uproar and newspaper editors blasted the President in editorials.

1835 Congress assembled what was called the, "Panic Session," and on 27 March President

Jackson was officially censured by Congress for withdrawing funds from the Second Bank of

the United States, in a vote which passed the Senate by 26 to 20. It was the first time a

President had ever been censured by Congress and Jackson stated of the Bank,

"You are a den of thieves vipers, and I intend to rout you out, and by the Eternal God, I

will rout you out."

However, Pennsylvania Governor, George Wolf, came out in support of President Jackson and

strongly criticized the Bank. This, coupled with the fact that Nicholas Biddle had been

caught boasting in public about the bank's plan to crash the American economy, caused a

shift in opinion of President Jackson's action.

In a complete about turn on April 4, the House of Representatives voted 134 to 82 against

re-chartering the bank. This was followed by another strong vote which established a

special committee to investigate whether the Bank had caused the crash.

However, when the investigating committee arrived at the bank's door in Philadelphia with a

subpoena authorizing them to inspect the books, Nicholas Biddle refused to give them up, or

allow inspection of correspondence with Congressmen relating to their personal loans and

advancements he had made to them. He also refused to testify before the committee back in

Washington.

1836 The Charter for the Second Bank of the United States expires, and the Bank ceases

functioning as America's central bank. Nicholas Biddle was later arrested and charged with

fraud. He was tried and acquitted but died in 1844 still battling civil suits.
1838 On January 8th President Jackson pays off the final installment of the national debt,

which had been necessitated by allowing the banks to issue currency for government bonds,

rather than simply issuing treasury notes without such debt. He was the only President to

ever pay off the debt.
On January 30th an assassin called Richard Lawrence tried to shoot President Jackson, but

both pistols misfired. Lawrence was later found not guilty by reason of insanity. However,

after his release he openly bragged that powerful people in Europe had put him up to the

task and promised to protect him if he were caught.

When asked what his most important accomplishment had been in life, President Jackson stated

without hesitation,

"I killed the Bank!"

It would take the money changers 75 years to establish the next central bank, the Federal

Reserve. This time they would take no chances and use one of their own, Jacob Schiff, from

the Rothschild bloodline, to undertake this.

1850 Jacob (James) Rothschild in France is said to be worth 600 million francs, which at the

time was 150 million francs more than all the other bankers in France put together.
1852 Future British Prime Minister, William Gladstone, stated the following about when he

became Chancellor of the Exchequer this year,

"From the time I took office as Chancellor of the Exchequer, I began to learn that the State

held, in the face of the Bank and the City, an essentially false position as to finance. The

Government itself was not to be a substantive power, but was to leave the Money Power

supreme and unquestioned."

1861 One month after the inauguration of President Abraham Lincoln, the American Civil War

got underway at Fort Sumter, South Carolina, after South Carolina left the Union. Slavery

has always been cited as the cause of the war but this was simply not the case, as President

Lincoln himself stated,

"I have no purpose directly or indirectly to interfere with the institution of slavery in

the state where it now exists. I believe I have no lawful right to do so, and I have no

inclination to do so...My paramount objective is to save the Union and it is not either to

save or destroy slavery. If I could save the Union without freeing any slave, I would do

it."

The real reason for the war is that the Southern States were in an a dire economic situation

due to the actions of the Northern States. Northern industrialists had used trade tariffs

to prevent the Southern States from buying cheaper European goods. Europe subsequently

retaliated by stopping cotton imports from the South. Thus the South were being forced to

pay more for goods whilst having their income slashed.

This is when the money changers saw the opportunity to divide and conquer America by

plunging it into Civil War. This is confirmed by Otto Von Bismarck when he was Chancellor

of Germany (1871 - 1890), who stated,

"The division of the United States into federations of equal force was decided long before

the Civil War by the high financial powers of Europe, these bankers were afraid that the

United States if they remained as one block and as one nation, would attain economic and

financial independence which would upset their financial domination over the world."

Only months after these first shots in South Carolina, the Central bankers loaned, Napoleon

III of France (the Napoleon of the battle of Waterloo's nephew), 210 million francs to seize

Mexico and then station troops along the Southern border of the United States, by taking

advantage of the American Civil War to return Mexico to colonial rule.

This was in violation of the, "Monroe Doctrine," which was issued by President James Monroe

during his seventh annual State of the Union address to Congress, in 1823. This doctrine

proclaimed the United States' opinion that European powers should no longer colonize the

Americas or interfere with the affairs of sovereign nations located in the Americas, such as

the United States, Mexico, and others.

In return, the United States planned to stay neutral in wars between European powers and in

wars between a European power and its colonies. However, if these latter type of wars were

to occur in the Americas, the U.S. would view such action as hostile toward itself.

Whilst the French were breaching the, Monroe Doctrine in Mexico, the British followed suit

by moving 11,000 troops into Canada and positioning them along America's Northern border.

President Lincoln knew he was in trouble, so he went with his Secretary To The Treasury,

Salomon P. Chase, to New York to apply for the loans necessary to fund America's defense.

The money changers had engineered the war to make the Union fail, and were not about to save

it now, so they offered loans at 24% to 36% interest. President Lincoln declined this as

they knew he would and returned to Washington, where he sent for Colonel Dick Taylor of

Chicago, who he put in charge of the problem of how he should finance the war.

During one meeting President Lincoln asked Colonel Taylor what proposals he had come up with

to finance the war. Colonel Taylor stated,

"Why Lincoln, that is easy, just get Congress to pass a bill authorizing the printing of

full legal tender treasury notes...and pay your soldiers with them and go ahead and win your

war with them also."

President Lincoln asked Colonel Taylor if the people of the United States would accept the

notes, Colonel Taylor said,

"The people or anyone else will not have any choice in the matter, if you make them full

legal tender. They will have the full sanction of the government and be just as good as any

money, as Congress is given that express right by the Constitution."

1862 President Lincoln began the printing of $450,000,000 worth of new bills. These bills

were printed in green ink on the reverse side, in order to distinguish them from other bills

in circulation, and were called, "Greenbacks." These were printed at no interest to the

Federal Government and were used to pay the troops and purchase their supplies. President

Lincoln would be the last President to issue debt free United States notes, and on this

subject he stated,

"The Government should create, issue and circulate all the currency and credit needed to

satisfy the spending power of the Government and the buying power of consumers. The

privilege of creating and issuing money is not only the supreme prerogative of Government,

but it is in the Government's greatest creative opportunity. By the adoption of these

principles...the taxpayers will be saved immense sums of interest. Money will cease to be

master and become the servant of humanity."

In response to this statement, The Times of London publishes a propaganda piece obviously

put out by the bankers, containing the following statement,

"If that mischievous financial policy, which had its origin in the North American Republic,

should become indurated down to a fixture, then that government will furnish its own money

without cost. It will pay off debts and be without a debt. It will have all the money

necessary to carry on its commerce.

It will become prosperous beyond precedent in the history of civilized governments of the

world. The brains and the wealth of all countries will go to North America. That government

must be destroyed or it will destroy every monarchy on the globe."

1863 The bankers struck back. With President Lincoln needing further congressional

authority to issue more Greenbacks, Lincoln was forced into allowing the bankers to push

their, "National Banking Act," through Congress.
The most important part of this Act was that from now on, the entire United States money

supply would be created out of debt by the National Banks buying United States Government

Bonds and issuing them for reserves for banknotes. On top of this monopoly, the National

Banks were allowed to operate under a virtual tax free status. This banking scam is best

explained by historian, John Kenneth Galbraith, who stated,

"In numerous years following the war, the Federal Government ran a heavy surplus. It could

not however pay off its debt, retire its securities, because to do so meant there would be

no bonds to back the national bank notes. To pay off the debt was to destroy the money

supply."

Later this year, Tsar Alexander II gave President Lincoln some unexpected help. The Tsar

issued orders that if either England or France actively intervened in the American Civil

War, and help the South, Russia would consider such action a declaration of war. To show

that he wasn't messing about, he sent part of his Pacific Fleet to port in San Francisco.

This wasn't because the Tsar was benevolent towards America, instead he was very clever.

He, like Otto Von Bismarck in Germany, could clearly see what the money changers were up to,

indeed he had already refused to let them set up a Central Bank in Russia. He understood if

America was to come under the control of Britain or France, then America would be under the

control of Central Bankers once again, and such an expansion of the bankers empire, would

mean they would eventually threaten Russia.

1864 President Lincoln is re-elected on November 8th and on November 21 he wrote a friend

the following,

"The money power preys upon the nations in times of peace and conspires against it in times

of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish

than bureaucracy."

Salomon P Chase, now President Lincoln's Former Secretary To The Treasury, stated,

"My agency in promoting the passage of the National Banking Act was the greatest financial

mistake in my life. It has built up a monopoly which affects every interest in the

country."

1865 On April 14th, 41 days after his second inauguration, and just 5 days after General Lee

surrendered to General Grant at Appomattox, President Lincoln is shot by John Wilkes Booth,

at Ford's Theater. He would later die of his injuries. Subsequent allegations that

international bankers were responsible for President Lincoln's assassination, would be made

in the Canadian House of Commons, nearly 70 years later in 1934.
The person who revealed this was a Canadian Attorney, Gerald G. McGeer. He had obtained

evidence deleted from the public record provided to him by Secret Service Agents at the

trial of John Wilkes Booth, after Booth's death. McGeer stated that it showed that John

Wilkes Booth was a mercenary working for the international bankers. His speech would be

reported in an article in the Vancouver Sun, dated, 2nd May 1934, which stated,

"Abraham Lincoln, the murdered emancipator of the slaves, was assassinated through the

machinations of a group representative of the International Bankers, who feared the United

States President's National Credit ambitions. There was only one group in the world at that

time who had any reason to desire the death of Lincoln. They were the men opposed to his

national currency program and who had fought him throughout the whole Civil War on his

policy of Greenback currency."

Gerald G. McGeer also stated that Lincoln's assassination was not purely because the

International Bankers wanted to re-establish a central bank in America, but also because

they wanted to base America's currency on gold, which they of course controlled. They

wanted to put America on a Gold Standard. This was in direct opposition to President

Lincoln's policy of issuing Greenbacks, based solely on the good faith and credit of the

United States.

The Vancouver Sun article also quoted Gerald G. McGeer with the following statement,

"They were the men interested in the establishment of the Gold Standard and the right of the

bankers to manage the currency and credit of every nation in the world. With Lincoln out of

the way they were able to proceed with that plan and did proceed with it in the United

States. Within 8 years after Lincoln's assassination, silver was demonetized and the Gold

Standard system set up in the United States."

1866 The European central bankers wanted the re-institution of a central bank under their

control and an American currency backed by gold. They chose gold as gold has always been

relatively scarce and therefore a lot easier to monopolize, than, for example, silver, which

was plentiful in the United States, and had been found in huge quantities with the opening

of the American West.
So, on April 12th, Congress went back to work at the bidding of the European central

bankers. It passed the, "Contraction Act," which authorized the Secretary of the Treasury

to contract the money supply by retiring some of the Greenbacks in circulation.

This money contraction and it's disastrous results is explained by Theodore R. Thoren and

Richard F. Walker, in their book, "The Truth In Money Book," in which they state the

following,

"The hard times which occurred after the Civil War could have been avoided if the Greenback

legislation had continued as President Lincoln had intended. Instead there were a series of

money panics, what we call recessions, which put pressure on Congress to enact legislation

to place the banking system under centralized control. Eventually the Federal Reserve Act

was passed on December 23rd 1913."

This is how the, "Contraction Act," passed by Congress affected America (the money supply

goes down purely because currency in circulation is being withdrawn):

Year In circulation Approximately per capita
1866 $1,800,000,000 $50.46
1867 $1,300,000,000 $44.00
1876 $600,000,000 $14.60
1886 $400,000,000 $6.67

Therefore in the twenty years since 1866 two thirds of the American money supply had been

called in by the bankers, representing a 760% loss in buying power over this twenty years.

The money became scarce simply because bank loans were called in and no new ones were given.

1872 Ernest Seyd is sent to America on a mission from the Rothschild owned Bank of England.

He is given $100,000 which he is to use to bribe as many Congressmen as necessary, for the

purposes of getting silver demonetized, as it had been found in huge quantities in the

American West, which would eat into Rothschild's profits.
1873 Ernest Seyd obviously spent his money wisely, as Congress pass the, "Coinage Act,"

which results in the minting of silver dollars being abruptly stopped. Furthermore,

Representative Samuel Hooper, who introduced the bill in the house, even admitted that

Ernest Seyd had actually drafted the legislation.
1874 Ernest Seyd himself admitted who was behind the demonetizing of silver in America, when

he makes the following statement,

"I went to America in the winter of 1872 - 1873, authorized to secure, if I could, the

passage of a bill demonetizing silver. It was in the interests of those I represented, the

governors of the Bank Of England, to have it done. By 1873, gold coins were the only form

of coin money."

1876 Due to the manipulation of the money supply in America, one third of the workforce is

unemployed and unrest is growing. There are even calls for a return to Greenback money or

silver money. As a result, Congress creates the, "United States Silver Commission," to

investigate the problem.
This commission clearly understood that the national bankers were the cause of the problem,

with their deliberate contraction of the money supply. An excerpt of their report reads as

follows,

"The disaster of the Dark Ages was caused by decreasing money and falling prices ...Without

money, civilization could not have had a beginning, and with a diminishing supply, it must

languish, and unless relieved, finally perish. At the Christian era the metallic money of

the Roman Empire amounted to $1,800,000,000. By the end of the 15th century it had shrunk

to less than $200,000,000...History records no other such disastrous transition as that from

the Roman Empire to the Dark Ages..."

Despite this damning report from the commission, Congress took no action.

1877 Rioting breaks out from Pittsburgh to Chicago. The bankers get together to decide what

to do and they decided to hang on, as they knew that despite the violence, they were now

firmly back in control. At the meeting of the American Bankers Association, they urged

their membership to do everything in their power, to put down any notion of a return to

Greenbacks.
The American Bankers Association secretary, James Buel, even wrote a letter to the members

in which he blatantly called on the banks to subvert both Congress and the press. In this

letter he stated,

"It is advisable to do all in your power to sustain such prominent daily and weekly

newspapers, especially the Agricultural and Religious Press, as well as oppose the Greenback

issue of paper money and that you will also withhold patronage from all applicants who are

not willing to oppose the government issue of money....

...To repeal the Act creating bank notes, or to restore to circulation issue of money will

be to provide the people with money and will therefore seriously affect our individual

profits as bankers and lenders. See your Congressman at once and engage him to support our

interests that we may control legislation."

1878 James Buel's letter clearly had some effect, as although pressure mounted in Congress

for change, the press tried to turn the general public away from the truth. An example of

this is from the New York Tribune in their 10th January edition in which is stated in a

bankers propaganda piece,

"The capital of the country is organized at last and we will see whether Congress will dare

to fly in its face."

This early control of the media didn't work entirely nevertheless, as on February 28th

Congress passed the, "Sherman Law." This law allowed the minting of a limited number of

silver dollars, ending the 5 year hiatus. However this did not mean that anyone who brought

silver to the United States Mint could have it struck into silver dollars, free of charge,

as in the period prior to Ernest Seyd's Coinage Act, in 1873. Gold backing of the American

currency also remained.

However, this Sherman Law did ensure that some money began to flow into the economy again,

and coupled with the fact that the bankers now realized that they were still firmly in

control, they started issuing loans again and the post Civil War depression was finally

over.

1881 The American people elect the Republican, James Garfield as the 20th President of the

United States. This was a worry to the money changers, because as a Congressman, he had

been Chairman of the Appropriations Committee, and was a member of Banking and Currency.

The money changers were therefore aware that President Garfield was in full knowledge of

their scam on the American people. Indeed following his inauguration, President Garfield

stated,

"Whosoever controls the volume of money in any country is absolute master of all industry

and commerce...And when you realize that the entire system is very easily controlled, one

way or another, by a few powerful men at the top, you will not have to be told how periods

of inflation and depression originate."

Strangely enough within a few weeks of making that statement, President Garfield was

assassinated on 2nd July.

1891 The money changers spent the last decade creating economic booms followed by

depressions, so that they could buy up thousands of homes and farms for pennies on the

dollar. They were preparing to take the economy down again in the near future, and in a

shocking memo sent out by the American Bankers Association, which would come out in the

Congressional Record more than twenty years later, the following is stated,

"On September 1st 1894 we will not renew our loans under any consideration. On September

1st we will demand our money.

We will foreclose and become mortgages in possession. We can take two-thirds of the farms

west of the Mississippi, and thousands of them east of the Mississippi as well, at our own

price...Then the farmers will become tenants as in England...,"

1891 American Bankers Association, as printed in the Congressional Record of April 29, 1913.

1896 The central issue in the Presidential campaign is the issue of more silver money.

Senator William Jennings Bryan from Nebraska, a Democrat aged only 36, makes an emotional

speech at the Democratic National Convention in Chicago, entitled, "Crown Of Thorns And

Cross Of Gold." Senator Bryan stated,

"We will answer their demand for a gold standard by saying to them, you shall not press down

upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of

gold."

The bankers naturally supported the Republican candidate, William McKinley who in return

favored the gold standard. Furthermore those in the McKinley campaign, got manufacturers

and industrialists to inform their employees that if Bryan were elected, all factories and

plants would close and there would be no work.

This tactic succeeded, McKinley beat Bryan, albeit by a small margin.

1898 Pope Leo XIII stated the following on the subject of usury,

"On the one hand there is the party which holds the power because it holds the wealth, which

has in its grasp all labor and all trade, which manipulates for its own benefit and its own

purposes all the sources of supply, and which is powerfully represented in the councils of

State itself. On the other side there is the needy and powerless multitude, sore and

suffering.

Rapacious usury, which, although more than once condemned by the Church, is nevertheless

under a different form but with the same guilt, still practiced by avaricious and grasping

men...so that a small number of very rich men have been able to lay upon the masses of the

poor a yoke little better than slavery itself."

1907 During the early 1900's, the money changers were anxious to advance their business of

setting up another private Central Bank for America. Rothschild, Jacob Schiff, the head of

Kuhn, Loeb and Co., in a speech to the New York Chamber of Commerce, stated, or rather

threatened,

“Unless we have a Central Bank with adequate control of credit resources, this country is

going to undergo the most severe and far reaching money panic in its history.”

They put Rothschild agent, J. P. Morgan at the forefront of their charge. Interestingly J.

P. Morgan's father, Julius Morgan, had been America's financial agent to the British, and

after Julius' death, J. P. Morgan took on a British partner, Edward Grenville, who was a

long time director of the Bank Of England.

This year was the year of the money changers attack. J. P. Morgan and his cohorts secretly

crashed the stock market. They were aware that thousands of small banks were so vastly over

extended, some only had reserves of 1% under the fraudulent fractional reserve principle.

Within only a few days, bank runs became commonplace across the nation.

Morgan then stepped up and publicly announced that he would support these failing banks.

What he failed to mention is that he would do this by manufacturing money out of nothing.

And then what happened, surprise, surprise, Congress let him do it! So, Morgan manufactured

$200,000,000 of this completely reserveless private money, purchased goods and services with

it, and sent some of it to his branch banks to lend out at interest.

As a result, the general public regained confidence in money, but most importantly it meant

the banking power was now further consolidated into the hands of a few large banks.

1908 With the widespread financial panic over, J. P. Morgan was hailed as a hero by the then

President of Princeton University, Woodrow Wilson, who even crassly or arrogantly stated,

"All this trouble could be averted if we appointed a committee of six or seven public

spirited men like J. P. Morgan, to handle the affairs of our country."

President Theodore Roosevelt had also signed into law, following the financial panic, a bill

creating the, "National Monetary Commission."

This commission was supposed to study the banking problem and make recommendations to

Congress. Naturally, the commission was packed with J. P. Morgan's friends and cronies.

The chairman was Senator Nelson Aldrich from Rhode Island, and he represented the Newport

Rhode Island homes of America's richest banking families. His daughter married John D.

Rockefeller Jr., and together they had five sons (including Nelson who would become Vice

President in 1974 and David who would become Head of the Council on Foreign Relations).

Following the setting up of this National Monetary Commission, Senator Aldrich immediately

embarked on a 2 year fact finding tour of Europe, where he consulted at length with the

private central bankers in England, France, and Germany, or rather Rothschild, Rothschild,

and Rothschild.

The total cost of this 2 year trip to the American taxpayer? $300,000. Yes, three hundred

thousand dollars, that is not a misprint!

1910 Senator Aldrich returns from his two year European fact finding mission on 22nd

November. Shortly afterwards some of America's most wealthy and powerful men boarded

Senator Aldrich's private railcar in the strictest secrecy. They journeyed to Jekyll Island

off the coast of Georgia.
In this group were Paul Warburg, who was earning a $500,000 a year salary from Rothschild

owned firm, Kuhn, Loeb & Company. This salary was for him to lobby for a privately owned

central bank in America. Also present was Jacob Schiff, a Rothschild who had purchased

Kuhn, Loeb and Company shortly after he arrived in America from England.

The Rothschilds, Warburgs and Schiffs, interconnected by marriage, were essentially the same

family.

Secrecy at this meeting was so tight that all the participants were cautioned to use only

first names, to prevent servants from learning their identities. Years later, one

participant, Frank Vanderlip, President of National Citibank and a representative of the

Rockefeller family, confirmed the Jekyll Island trip in a 9th February 1935 edition of the

Saturday Evening Post in which he stated,

"I was as secretive indeed, as furtive as any conspirator ...Discovery we knew, simply must

not happen, or else all our time and effort would be wasted. If it were to be exposed that

our particular group had got together and written a banking bill, that bill would have no

chance whatever of passage by Congress."

It was not just the setting up of a Central Bank that was on the agenda. Other problems for

these bankers were that the market share of these big national banks was shrinking fast. In

the first ten years of the century the number of United States banks had more than doubled

to over 20,000. By 1913 only 29% of all banks were national banks and they held only 57% of

all deposits. As John D. Rockefeller put it,

"Competition is Sin!"

Senator Aldrich later admitted in a magazine article,

"Before passage of this Act, the New York Bankers could only dominate the reserves of New

York. Now we are able to dominate bank reserves of the entire country."

So one of the aims of these conspirators was to bring these new banks under their control.

Secondly the nations economy was so strong that corporations were starting to finance their

own expansions out of profits instead of taking out huge loans from large banks. Indeed, in

the first ten years of the century, 70% of corporate funding came from profits.

Basically, American Industry was becoming independent of the money changers, and the money

changers were not about to let that happen.

There was also much discussion regarding the name of the new bank, which took place in a

conference room in the Jekyll Island Club Hotel. Aldrich believed the word, "bank," should

not even appear in the name. Warburg wanted to call the legislation, the, "National Reserve

Bill," or the, "Federal Reserve Bill." The idea was not only to give the impression that

the purpose of the new central bank was to stop bank runs, but also to conceal its monopoly

character.

However it was Senator Aldrich, the egomaniac, who insisted it be called the, "Aldrich

Bill." So, after nine days at Jekyll Island, the group dispersed. This group of

conspirators immediately set up an educational fund of $5,000,000 to finance Professors at

top universities to endorse the new bank.

The new central bank would be very similar to the old Bank Of The United States, in that it

would be given a monopoly over United States currency and create that money out of nothing.

Also in order to make the public think it was under control of the Government, the plan

called for the central bank to be run by a board of governors appointed by the President and

approved by the Senate.

This would not cause any undue problems for the bankers, as they knew they could use their

money to buy influence over the politicians, in order to ensure the men they wanted got

appointed to the board of governors.

1912 The Aldrich bill is presented to Congress for debate. This was very quickly identified

as a bill to benefit the bankers, or an expression for them which was coined at the time,

"The Money Trust." During the debate, the Republican, Charles A. Lindbergh stated,

"The Aldrich plan is the Wall Street Plan. It means another panic, if necessary, to

intimidate the people. Aldrich, paid by the government to represent the people, proposes a

plan for the trusts instead."

As this debate continued on, the bankers realized they didn't have enough support, so the

Republican leadership never brought the Aldrich bill to a vote. Instead the bankers decided

to switch their attention to the Democrats and started heavily financing Woodrow Wilson, the

Democratic Presidential nominee. The Wall Street banker, Bernard Baruch, was put in charge

of the Wilson project, and as historian, James Perloff, stated,

"Baruch brought Wilson to the Democratic Party headquarters in New York in 1912, 'leading

him like one wood a poodle on a string.' Wilson received an, 'indoctrination course,' from

the leaders convened there...."

During the Democratic Presidential campaign, Wilson and the rulers of the Democratic Party

pretended to oppose the Aldrich bill. As Republican representative, Louis T. McFadden,

explained twenty years later, when he was was Chairman Of The House Banking And Currency

Committee,

"The Aldrich Bill was condemned in the platform...when Woodrow Wilson was nominated...The

men who ruled the Democratic Party promised the people that if they were returned to power

there would be no central bank established here while they held the reins of government.

Thirteen months later that promise was broken, and the Wilson administration, under the

tutelage of those sinister Wall Street figures who stood behind Colonel House, established

here in our free country the worm-eaten monarchical institution of the, 'King's Bank,' to

control us from the top downward, and to shackle us from the cradle to the grave."

On November 5th, Woodrow Wilson was elected, and J. P. Morgan, Paul Warburg, Bernard Baruch

et al, advanced a new plan which Warburg called the Federal Reserve System. The leadership

of the Democratic Party hailed this new bill called the, "Glass-Owen Bill," as totally

different to the Aldrich bill, when in fact it was virtually identical.

Funnily enough the Democrats were so vehement in their denial of the similarity of the,

"Glass-Owen Bill," to the, "Aldrich Bill," that Paul Warburg, the creator of both bill, had

to inform his paid friends in Congress, that the two bills were virtually identical and

therefore they must vote to pass it. Warburg stated,

"Brushing aside the external differences affecting the, 'shells,' we find the, 'kernels,' of

the two systems very closely resembling and related to one another."

However this admission by Warburg was not made public. Instead, Senator Aldrich, and Frank

Vanderlip, the President of Rockefeller's National Citibank of New York, were to publicly

state their opposition to the bill in order to make people think that the bill proposed was

radically different to the Aldrich bill. Indeed, Frank Vanderlip stated years later in the

Saturday Evening Post,

"Although the Aldrich Federal Reserve Plan was defeated when it bore the name Aldrich,

nevertheless its essential points were all contained in the plan that finally was adopted."

1913 With Congress nearing a vote on the Glass-Owen Bill, they called Ohio Attorney, Alfred

Crozier, to testify. However, Crozier noticed the similarities between the Aldrich Bill and

the Glass-Owen Bill, and subsequently stated,
"The...bill grants just what Wall Street and the big banks for twenty-five years have been

striving for - private instead of public control of currency. It (the Glass-Owen bill) does

this as completely as the Aldrich bill. Both measures rob the government and the people of

all effective control over the public's money, and vest in the banks exclusively the

dangerous power to make money among the people scarce or plenty."

The debate on this bill was not going well for the banks, with many Senators intimating the

bill was corrupt and deceitful, however the bill was approved through the Senate on December

22nd. How did this happen? Because most of the Senators had left town to return home for

the Christmas holidays. Furthermore, these Senators had been assured by the leadership, that

nothing would be done regarding this bill until long after the Christmas recess.

Representative Charles A Lindbergh Sr. stated,

"This Act establishes the most gigantic trust on earth. When the President signs this bill,

the invisible government of the monetary power will be legalized. The people may not know

it immediately, but the day of reckoning is only a few years removed...The worst legislative

crime of the ages is perpetrated by this banking and currency bill."

Interestingly, only a few weeks earlier, in October, Congress finally passed a bill

legalizing direct income tax of the people. This was in the form of a bill pushed through

by Senator Aldrich, which is now commonly known as the 16th amendment. The income tax law

was fundamental to the Federal Reserve. This is because the Federal Reserve was a system

which would run up, essentially, an unlimited Federal debt.

The only way to guarantee the payment of interest on this debt was to directly tax the

people, as they had done with the Bank Of England. If the Federal Reserve had to rely on

contributions from the States, they would be dealing with bigger entities, who could revolt

and refuse to pay the interest on their own money, or at least bring political pressure to

bear in order to keep the debt small.

Actually, this 16th amendment was never ratified, and therefore many American citizens do

not pay their income tax and there is nothing the United States Government can do about it.

For further information on this go to thelawthatneverwas.com . Also, back in 1895, the

Supreme Court had also found an income tax law similar to the 16th amendment, as

unconstitutional. The Supreme Court also found a Corporate Tax Law unconstitutional in

1909.

Another important amendment that was put through this year is the 17th amendment. This

provided for the direct election by the people of two Senators from each state as oppose to

the original system of having state legislatures elect United States Senators. More

democratic, you would think, until you realize these bankers could now provide the funds for

their hand picked people to run for the Senate, and thus avoid future problems like getting

the Federal Reserve through the Senate.

Anyway, back to the Federal Reserve, if you are in any doubt as to whether the Federal

Reserve is a private company, a basic check the public can carry out is in their phone book.

Look under the government pages and it is not listed, but you will find it listed within

the business pages.

Actually some recent evidence has come forward as to who really owns the Federal Reserve,

and they are the following banks:

Rothschild Bank of London
Warburg Bank of Hamburg
Rothschild Bank of Berlin
Lehman Brothers of New York
Lazard Brothers of Paris
Kuhn Loeb Bank of New York
Israel Moses Seif Banks of Italy
Goldman, Sachs of New York
Warburg Bank of Amsterdam
Chase Manhattan Bank of New York
Also some argue that the Federal Reserve is a quasi-governmental agency, yet the President

appoints only 2 of the 7 members of the Federal Reserve Board of Governors, every four

years, and he appoints them to 14 year terms, which is far longer than any term he could

possibly serve as President. The Senate confirms these appointments, but as we have seen,

that is the idea, because these are the very people hand picked by the bankers who also

finance their campaigns, ensuring loyalty to them, not the people.

Let's summarize how the Federal Reserve creates money out of nothing. It is a four step

process:

The Federal Open Market Committee approves the purchase of United States Bonds*.
The bonds are purchased by the Federal Reserve.
The Federal Reserve pays for these bonds with electronic credits to the seller's bank, these

credits are based on nothing.
The banks use these deposits as reserves. They can loan out over ten times the amount of

their reserves to new borrowers, all at interest.
* Bonds are simply promises to pay or Government IOU's. People purchase bonds in order to

get a secure rate of interest. At the end of the term of the bond, the government repays

the bond, plus interest and the bond is destroyed.

Let's look at an example of how this works with a Federal Reserve purchase of $1,000,000 of

bonds. This then gets turned into over $10,000,000 in bank accounts. The Federal Reserve

in effect creates 10% of this totally new $10,000,000 and the banks create the other 90%.

To reduce the amount of money in circulation this process is simply reversed. The Federal

Reserve sells these bonds to the public and the money flows out of the purchaser's local

bank. Loans must be reduced by ten times the amount of the sale, so a Federal Reserve sale

of $1,000,000 in bonds, results in $10,000,000 less money in the economy. How does this

benefit the bankers, whose representatives met at Jekyll Island?

It prevented any future banking reform efforts, as the Federal Reserve was to be the only

producer of money.
This in turn prevented a proper debt free system of government finance, like President

Lincoln's Greenbacks, from making a comeback. Instead, the bond based system of government

finance, forced on Lincoln after he created Greenbacks, was now cast in stone.
It delegated to the bankers the right to create 90% of our money supply based on a

fraudulent system of fractional reserve banking and allowed them to loan out that 90% at

interest.
It centralized overall control of our nations money supply in the hands of and for the

profits of a few men.
It established a private central bank with a high degree of independence from effective

political control.

1914 The start of World War I. In this war, the German Rothschilds loaned money to the

Germans, the British Rothschilds loaned money to the British, and the French Rothschilds

loaned money to the French.
One year after the passage of the Federal Reserve Bill, Representative Charles A Lindbergh

Sr., outlined how The Federal Reserve created the, "business cycle," and how they

manipulated that to their own advantage. He stated,

"To cause high prices, all the Federal Reserve Board will do will be to lower the rediscount

rate..., producing an expansion of credit and a rising stock market, then when ...business

men are adjusted to these conditions, it can check... prosperity in mid-career by

arbitrarily raising the rate of interest.

It can cause the pendulum of a rising and falling market to swing gently back and forth by

slight changes in the discount rate, or cause violent fluctuations by a greater rate

variation, and in either case it will possess inside information as to financial conditions

and advance knowledge of the coming change, either up or down. This is the strongest, most

dangerous advantage ever placed in the hands of a special privilege class by any Government

that ever existed.

The system is private, conducted for the sole purpose of obtaining the greatest possible

profits from the use of other people's money. They know in advance when to create panics to

their advantage. They also know when to stop panic. Inflation and deflation work equally

well for them when they control finance."

1915 J. P. Morgan became the sales agent for the, "War Materials Board," to both the British

and the French engaged in World War I, and becomes the biggest consumer on the planet,

spending 10 million dollars a day. Furthermore, President Woodrow Wilson appointed banker,

Bernard Baruch, to head the, "War Industries Board."
According to historian, James Perloff, both Bernard Baruch and the Rockefellers profited by

approximately 200 million dollars during World War I.

A lot of people believe the key to an effective money supply is to ensure it is backed by

something of worth such as gold. However, who do you think would control that gold? As

Republican, Charles A. Lindbergh stated this year,

"Already the Federal Reserve Banks have cornered the gold and gold certificates."

1916 President Wilson began to realize the gravity of the damage he had done to America, by

unleashing the Federal Reserve on the American people. He stated,

"We have come to be one of the worst ruled, one of the most completely controlled

governments in the civilized world - no longer a government of free opinion, no longer a

government by ...a vote of the majority, but a government by the opinion and duress of a

small group of dominant men.

Some of the biggest men in the United States, in the field of commerce and manufacture, are

afraid of something. They know there is a power somewhere so organized, so subtle, so

watchful, so interlocked, so complete, so pervasive, that they had better not speak above

their breath when they speak in condemnation of it."

1917 The money changers never forgave the Tsars of Russia for both continually opposing

their request to set up a central bank in Russia, as well as their support of President

Lincoln during the Civil War. Therefore, Jacob Schiff, a Rothschild, spent 20 million

dollars through his firm, Kuhn, Loeb & Co., in financing the Russian Revolution.
It is commonly believed that Communism is the opposite of Capitalism, so why would these

capitalists support it? Respected researcher, Gary Allen, explains it as follows,

"If one understands that socialism is not a share-the-wealth program, but it is in reality a

method to consolidate and control the wealth, then the seeming paradox of super-rich men

promoting socialism becomes no paradox at all. Instead it becomes logical, even the perfect

tool of power seeking megalomaniacs. Communism, or more accurately socialism, is not a

movement of the downtrodden masses, but of the economic elite."

1919 In January the Paris Peace Conference takes place following the end of World War I.

The bankers put World Government at the top of their agenda, and Paul Warburg and Bernard

Baruch attend this conference with President Wilson. To the bankers dismay, the world was

not yet ready to dissolve national boundaries and accept World Government, so that part of

their plan had failed.
The plan for World Government was called the, "League Of Nations," and although many nations

accepted this proposal, the United States Congress would not support it, and thus without

the support of money from the United States Treasury, the bankers had failed and the League

Of Nations died.

1920 Warren G. Harding is elected President of the United States, and succeeds Woodrow

Wilson in 1921. This will be the start of a period which became known as the, "roaring

twenties." Despite the fact that World War I had saddled America with a debt that was ten

times larger than its civil war debt, the United States economy grew in abundance. Also,

gold had poured into America during the war and continued during the 1920's.
The reason for this growth is that President Harding reduced taxes domestically, and

increased tariffs on imports to record levels.

1921 The Inventor of the electric light, Thomas Edison, said in an article published in the

New York Times, on December 6,

"If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes

the bond good, makes the bill good, also...It is absurd to say that our country can issue 30

million dollars in bonds and not 30 million dollars in currency. Both are promises to pay,

but one promise fattens the usurers and the other helps the people."

1922 President Theodore Roosevelt who died in 1919 was quoted in the March 27th edition of

the New York Times with the following statement,

"These International bankers and Rockefeller-Standard Oil interests control the majority of

newspapers and the columns of these newspapers to club into submission or drive out of

public office officials who refuse to do the bidding of the powerful corrupt cliques which

compose the invisible government."

The reason the New York Times ran this article, was due to the Mayor of New York, John

Hylan, who had been reported in the same paper the previous day, March 26th, with the

following statement,

"The warning of Theodore Roosevelt has much timeliness today, for the real menace of our

republic is this invisible government which like a giant octopus sprawls its slimy length

over city, state, and nation...It seizes in its long and powerful tentacles our executive

officers, our legislative bodies, our schools, our courts, our newspapers, and every agency

created for the public protection...

To depart from mere generalizations, let me say that at the head of this octopus are the

Rockefeller-Standard Oil interest and a small group of powerful banking houses generally

referred to as international bankers. This little coterie of powerful international bankers

virtually run the United States Government for their own selfish purposes.

They practically control both parties, write political platforms, make cats paws of party

leaders, use the leading men of private organizations, and resort to every device to place

in nomination for high public office only such candidates as will be amenable to the

dictates of corrupt big business ...these International Bankers and Rockefeller-Standard Oil

interests control the majority of newspapers and magazines in this country."

1923 On August 2nd, President Warren Harding died on a train in mysterious circumstances.

The cause was given as either food poisoning or a stroke although no autopsy was performed.

He was succeeded by his Vice-President Calvin Coolidge. President Coolidge continued

Harding's tax cutting and tariff raising policies.
This policy was so successful that the economy still continued to grow, and the huge Federal

Debt built up during World War I, under Harding and Coolidge was reduced by 38% down to 16

billion dollars. This was when the Federal Reserve started flooding the country with money,

increasing the money supply by 62%.

Representative Charles A Lindbergh Sr. stated,

"The financial system...has been turned over to...the Federal Reserve Board. That board

administers the finance system by authority of ...a purely profiteering group. The system

is private, conducted for the sole purpose of obtaining the greatest possible profits, from

the use of other people's money."

1924 Shortly before his death this year, President Woodrow Wilson made the following

statement in relation to his support for the Federal Reserve,

"I have unwittingly ruined my country."

1927 In July, in Europe, Bank of England Governor Montagu Norman, Benjamin Strong of the

Federal Reserve Bank, and Dr. Hjalmar Schacht of the Reichsbank, met in conference. No

public reports were ever made of these conferences, which happened on numerous occasions and

were wholly informal, but which covered many important questions of gold movements, the

stability of world trade, and world economy.
Montagu Norman was obsessed with getting back the gold that England had lost to America

during World War I and returning the Bank of England to its former position of dominance in

world finance. Republican Congressman, Louis T. McFadden, Chairman of the House Banking &

Currency Committee, from 1920 to 1931, would comment on this Bank of England plan in the

midst of the Great Depression in February 1931 when he stated,

"I think it can hardly be disputed that the statesmen and financiers of Europe are ready to

take almost any means to reacquire rapidly the gold stock which Europe lost to America as a

result of World War I."

1929 In April, Paul Warburg sent out a secret warning to his friends that a collapse and

nationwide depression had been planned for later that year. It is certainly no coincidence

that the biographies of all the Wall Street giants of that era: John D. Rockefeller; J. P.

Morgan; Joseph Kennedy; Bernard Baruch; et al, all marveled at the fact these people got out

of the stock market completely just before the crash and put their assets into cash or gold.
So, as all the bankers and their friends already knew, in August the Federal Reserve began

to tighten the money supply. Then on 24th October the big New York bankers called in their

24 hour broker call loans. This meant that both the stockbrokers and their customers had to

dump their stocks on the stock market to cover their loans, irrespective of what price they

had to sell them for.

As a result of this the stock market crashed on a day that would go down in history as,

"Black Thursday." In his book, The Great Crash 1929, John Kenneth Gailbraith makes the

following shocking statement,

"At the height of the selling frenzy Bernard Baruch brought Winston Churchill into the

visitors gallery of the New York Stock Exchange to witness the panic and impress him with

his power over the wild events on the floor."

Republican Congressman, Louis T McFadden, Chairman of the House Banking & Currency

Committee, from 1920 to 1931, was as usual quite candid as to who was responsible. He

stated of this crash,

"It was not accidental. It was a carefully contrived occurrence...The international bankers

sought to bring about a condition of despair here so that they might emerge as rulers of us

all."

Curtis B. Dall, the son-in-law of Franklin Delano Roosevelt, who was working for Lehmann

Brothers as a broker, on the floor of the New York Stock Exchange, on the day of the crash,

stated in his 1967 book, F. D. R. My Exploited Father-In-Law,

"Actually, it was the calculated 'shearing' of the public by the World-Money powers

triggered by the planned sudden shortage of call money in the New York Money Market."

Despite the claims of how the Federal Reserve would protect the country against depressions

and inflation, they continued to further contract the money supply. Between 1929 and 1933,

they reduced the money supply by an additional 33%. Even, Milton Friedman, the Nobel Peace

Prize winning economist stated the following in a radio interview in January 1996,

"The Federal Reserve definitely caused the Great Depression by contracting the amount of

currency in circulation by one-third from 1929 to 1933."

In only a few weeks from the day of the crash, 3 billion dollars of wealth vanished. Within

a year, 40 billion dollars of wealth vanished. However, it did not simply disappear, it

just ended up consolidated in fewer and fewer hands, as was planned. An example of this is

Joseph P. Kennedy, John F. Kennedy's father. In 1929 he was worth 4 million dollars, in

1935 that had increased to over 100 million dollars.

This is why depressions are caused. As stated previously the top bankers and their friends

got out of the stock market and purchased gold just before the crash, which they shipped

over to London. This meant that the money lost by most Americans during the crash didn't

just vanish, it just ended up in these people's hands.

It also was spent overseas, as whilst the Great Depression was occurring, millions of

American dollars was being spent on rebuilding Germany from damage sustained during World

War I, in preparation for the bankers World War II. Republican Louis T. McFadden, Chairman

of the House Banking & Currency Committee from 1920 to 1931, stated the following in

relation to this,

"After World War I, Germany fell into the hands of the German International Bankers. Those

bankers bought her and now they own her, lock, stock, and barrel. They have purchased her

industries, they have mortgages on her soil, they control her production, they control all

her public utilities.

The international German bankers have subsidized the present Government of Germany and they

have also supplied every dollar of the money Adolph Hitler has used in his lavish campaign

to build up a threat to the government of Bruening. When Bruening fails to obey the orders

of the German International Bankers, Hitler is brought forth to scare the Germans into

submission...

Through the Federal Reserve Board over 30 billion of dollars of American money...has been

pumped into Germany...You have all heard of the spending that has taken place in Germany

...modernistic dwellings, her great planetariums, her gymnasiums, her swimming pools, her

fine public highways, her perfect factories.

All this was done on our money. All this was given to Germany through the Federal Reserve

Board. The Federal Reserve Board...has pumped so many billions of dollars into Germany that

they dare not name the total."

The money pumped in to Germany to build her up in preparation for World War II, was into the

German Thyssen banks which were affiliated with the Harriman interest in New York.

1930 The Bank for International Settlements (BIS) was established by Charles G. Dawes

(Rothschild agent and Vice President under President Calvin Coolidge from 1925-1929), Owen

D. Young (Rothschild agent, founder of RCA and Chairman of General Electric from 1922 until

1939), and Hjalmar Schacht of Germany (President of the Reichsbank).
The BIS is referred to the bankers as the, "Central bank for the central banks." Whereas

the IMF and the World Bank deal with governments, the BIS deals only with other central

banks. All its meetings are held in secret and involve the top central bankers from around

the world. For example the former head of the Federal Reserve, Alan Greenspan, would go to

the BIS headquarters in Basel, Switzerland, ten times a year for these private meetings.

The BIS also has the status of a sovereign power and is immune from governmental control. A

summary of this immunity is listed below:

Diplomatic immunity for persons and what they carry with them (i.e., diplomatic pouches).
No taxation on any transactions, including salaries paid to employees.
Embassy-type immunity for all buildings and/or offices operated by the BIS worldwide

including China and Mexico.
No oversight or knowledge of operations by any government authority, they are not audited.
Freedom from immigration restrictions.
Freedom to encrypt any and all communications of any sort.
Freedom from any legal jurisdiction, they even have their own police force.
BIS' current board of directors, only five of which are elected and the rest of which are

permanent, are:

Nout H E M Wellink, Amsterdam (Chairman of the Board of Directors)
Hans Tietmeyer, Frankfurt am Main (Vice-Chairman)
Axel Weber, Frankfurt am Main
Vincenzo Desario, Rome
Antonio Fazio, Rome
David Dodge, Ottawa
Toshihiko Fukui, Tokyo
Timothy F Geithner, New York
Alan Greenspan, Washington
Lord George, London
Hervé Hannoun, Paris
Christian Noyer, Paris
Lars Heikensten, Stockholm
Mervyn King, London
Guy Quaden, Brussels
Jean-Pierre Roth, Zürich
Alfons Vicomte Verplaetse, Brussels
Georgetown Professor and historian, Carroll Quigley, commented on the creation of this

central bank in his 1975 book, Tragedy And Hope, as follows,

"The powers of financial capitalism had (a) far reaching (plan), nothing less than to create

a world system of financial control in private hands able to dominate the political system

of each country and the economy of the world as a whole. This system was to be controlled

in a feudalist fashion by the central banks of the world acting in concert, by secret

agreements arrived at in frequent meetings and conferences.

The apex of the system was to be the Bank For International Settlements in Basel,

Switzerland (*), a private bank owned and controlled by the world's central banks which were

themselves private corporations.

Each central bank ...sought to dominate its government by its ability to control treasury

loans, to manipulate foreign exchanges, to influence the level of economic activity in the

Country, and to influence cooperative politicians by subsequent economic rewards in the

business world."

* Home of first World Zionist Congress, chaired by Theodor Herzl in 1897

A handful of United States Senators led by Henry Cabot Lodge, fought to keep the United

States out of the Bank for International Settlements. However, even thought the United

States rejected this World Central Bank, the Federal Reserve still sent members to

participate in its meetings in Switzerland, right up until 1994 when the United States was,

"officially," dragged into it.

1932 Republican Representative Louis T. McFadden of Pennsylvania, the Former Chairman of the

House Banking & Currency Commission during the great depression, states,

"We have in this country one of the most corrupt institutions the world has ever known. I

refer to the Federal Reserve Board...This evil institution has impoverished...the people of

the United States...and has practically bankrupted our government. It has done this

through...the corrupt practices of the moneyed vultures who control it."

In his final year in office, President Herbert Hoover puts forward a plan to bail out the

failing banks, he seemed to feel that they took priority over millions of starving

Americans, however this plan did not receive support from the Democratic Congress. Hoover's

Presidency failing, Franklin D. Roosevelt is elected President later this year.

1933 On March 4th, during his inaugural address, President Roosevelt made the following

statement,

"Practices of the unscrupulous money changers stand indicted in the court of public opinion,

rejected by the hearts and minds of men...The money changers have fled from their high seats

in the temple of our civilization."

However, later that year, President Roosevelt outlawed private ownership of all gold bullion

and all gold coins with the exception of rare coins. Most of the gold in the hands of the

average American was in the form of gold coins and this decree by Roosevelt was effectively

a confiscation.

In small town America, the people did not trust Roosevelt. However, the people were given a

simple choice. Either turn in your gold and be paid the official price for it of, $20-66 an

ounce, or you will be liable for a $10,000 fine and a ten year prison sentence.

This confiscation order was so unpopular, it's author has never been discovered. No

Congressman ever claimed having written it, President Roosevelt stated he had not written

it, nor had he even read it. Roosevelt's Secretary of the Treasury, William H. Woodin,

claimed he'd never read it either, but that it was, he stated,

"What the experts wanted."

I wonder to what, "experts," he refers!

1934 In its 20th June issue, New Britain magazine of London published a statement made by

former British Prime Minister David Lloyd George that,

"Britain is the slave of an international financial bloc."

Also in the article was the following words written by Lord Bryce,

"Democracy has no more persistent and insidious foe than money power ...questions regarding

Bank of England, its conduct and its objects, are not allowed by the Speaker (of the House

of Commons)."

Louis T. McFadden, Republican Congressman and Chairman of the House Banking & Currency

Committee from 1920 to 1931 stated,

"Through the Fed the people are losing their rights guaranteed to them by the Constitution

...common decency requires us to examine the public accounts of the government and see what

kind of crimes against the public welfare have been committed...the people of these United

States are being greatly wronged...

Every effort has been made by the Fed to conceal its powers-but truth is-the Fed has usurped

the Government...the sack of these United States by the Fed is the greatest crime in

history...what King ever robbed his subject to such an extent as the Fed has robbed us...it

is a monstrous thing for this great nation of people to have its destinies presided over by

a traitorous government board acting in secret concert with international usurer.

When the Fed was passed, the people of these United States did not perceive that a world

system was being set up here ...a super state controlled by international bankers, and

international industrialists acting together to enslave the world for their own pleasure."

1935 All the gold held by American citizens had finally been turned in under President

Roosevelt's 1933 confiscation order at the price of $20-66 an ounce. Without explanation

the official price of gold was then raised to $35 per ounce. The only catch was that only

foreigners could sell their gold at the new higher price. Where is the world price of gold

set? Since 1919, in the same room of private bank N. M. Rothschild & Sons in London, at

11:00 a.m., on a daily basis.
Therefore Warburg and his banking friends who put their money into gold at $20-66 before the

stock market crash and shipped it to London, could now ship it back and sell it to the

United States Government for the new higher price. The money changers have a golden rule,

"He who has the gold, makes the rules."

President Roosevelt orders the building of a new gold bullion depository to hold the vast

amount of gold the United States government had illegally confiscated. That depository was

Fort Knox.

1936 On October 3, Republican Congressman, Louis T McFadden, Chairman of the House Banking &

Currency Committee, from 1920 to 1931, is poisoned to death. This was the third

assassination attempt on his life, he had suffered an earlier poisoning and had had shots

fired at him.
He had been trying for years to get the Federal Reserve, and as you will have read thus far,

had made very revealing statements about the Federal Reserve. He had been warned to back

off, but this great American Patriot, put the people he represented before himself, as all

elected officials are supposed to do, and was killed by the bankers as a result.

1937 With Fort Knox having been completed only the previous year, the gold now began to flow

into it.
1938 With the Federal Reserve having been in control of the United States economy for 25

years under the pretext of promoting monetary stability, it has caused three major economic

downturns including the Great Depression. As Nobel Prize winning economist Milton Friedman

put it,

"The stock of money, prices and output was decidedly more unstable after the establishment

of the Reserve System than before. The most dramatic period of instability in output was,

of course, the period between the two wars, which includes the severe (monetary)

contractions of 1920-21, 1929-33, and 1937-38. No other 20 year period in American history

contains as many as three such severe contractions.

This evidence persuades me that at least a third of the price rise during and just after

World War I is attributable to the establishment of the Federal Reserve System...and that

the severity of each of the major contractions - 1920-21, 1929-33, and 1937-38 - is directly

attributable to acts of commission and omission by the Reserve authorities...

Any system which gives so much power and so much discretion to a few men, (so) that mistakes

- excusable or not - can have such far reaching effects is a bad system. It is a bad system

to believers in freedom just because it gives a few men such power without any effective

check by the body politic - this is the key political argument against an independent

central bank...To paraphrase Clemenceau money is much too serious a matter to be left to the

central bankers."

Milton Friedman would also state,

"I know of no severe depression, in any country or any time that was not accompanied by a

sharp decline in the stock of money, and equally of no sharp decline in the stock of money

that was not accompanied by a severe depression."

1941 Sir Josiah Stamp, director of the Bank of England during the years 1928-1941, made the

following statement with regard to banking,

"The modern banking system manufactures money out of nothing. The process is perhaps the

most astounding piece of sleight of hand that was ever invented. Banking was conceived in

iniquity and born in sin. Bankers own the Earth. Take it away from them, but leave them

the power to create money, and with the flick of the pen they will create enough money to

buy it back again...

Take this great power away from them and all great fortunes like mine will disappear, and

they ought to disappear, for then this would be a better and happier world to live in. But

if you want to continue to be slaves of the banks and pay the cost of your own slavery, then

let bankers continue to create money and control credit."

1944 The United States income is running at 183 billion dollars, yet 103 billion dollars is

being spent on World War II. This was thirty times the spending rate during World War I.

Actually, it was the American taxpayer that picked up 55% of the total allied cost of the

war.
In Bretton Woods, New Hampshire, the International Monetary Fund (IMF), and the World Bank

(initially called the International Bank for Reconstruction and Development or IBRD - the

name, "World Bank," was not actually adopted until 1975), were approved with full United

States participation.

The principal architects of the Bretton Woods system, and hence the IMF, were Harry Dexter

White and John Maynard Keynes. Interestingly Harry Dexter White who died in 1946, was

identified as a Soviet spy whose code name was, "Jurist," on October 16, 1950, in an FBI

memo. Also, John Maynard Keynes was a British citizen.

What these two bodies essentially did, was repeat on a world scale what the National Banking

Act of 1864, and the Federal Reserve Act of 1913 had established in the United States. They

created a banking cartel comprising the world's privately owned central banks, which

gradually assumed the power to dictate credit policies to the banks of all nations.

In the same way the Federal Reserve Act authorized the creation of a new national fiat

currency called, Federal Reserve Notes, the IMF has been given the authority to issue a

world fiat money called, "Special Drawing Rights," or SDR's. Member nations were

subsequently pressured into making their currencies fully exchangeable for SDR's.

The IMF is controlled by its board of governors, which are either the heads of different

central banks, or the heads of the various national treasury departments who are dominated

by their central banks. Also, the voting power in the IMF gives the United States and the

United Kingdom (the Federal Reserve and the Bank of England), effective control of it.

1945 The second, "League Of Nations," now renamed the, "United Nations," was approved. The

bankers, World War II, had been a success this time as a result of the physical, emotional,

and mental exhaustion the world had felt after yet another World War. This blueprint for

world government would soon have its own international court system as well.
1946 The Bank of England was nationalized, which might seem at first sight to be a far

reaching measure, but actually made little difference in practice. Yes, the state did

acquire all the shares in the Bank of England, they now belong to the Treasury and are held

in trust by the Treasury Solicitor.
However, the government had no money to pay for the shares, so instead of receiving money

for their shares, the shareholders were issued with government stocks. Although the state

now received the operating profits of the bank, this was offset by the fact that the

government now had to pay interest on the new stocks it had issued to pay for the shares.

So, although the Bank of England is now state-owned, the fact is that the British money

supply is once again almost entirely in private hands, with 97% of it being in the form of

interest bearing loans of one sort or another, created by private commercial banks.

As a result of this, the bank is largely controlled and run by those from the world of

commercial banking and conventional economics. The members of the Court of Directors, who

set policy and oversee its functions, are drawn almost entirely from the world of banks,

insurance, economists and big business.

Although the Bank of England is called a central bank it is now essentially a regulatory

body that supports and oversees the existing system. It is sometimes referred to as "the

lender of last resort," in so far as one of its functions as the bankers' bank is to support

any bank or financial institution that gets into difficulties and suffers a run on its

liquid assets.

Interestingly, in these circumstances, it is not obliged to disclose details of any such

measures, the reason being so as to avoid a crisis in confidence.

1950 Every nation involved in World War II greatly multiplied their debt. Between 1940 and

1950, United States Federal Debt went from 43 billion dollars to 257 billion dollars, a 598%

increase. During that same period Japanese debt increased by 1,348%, French debt increased

by 583%, and Canadian debt increased by 417%.
James Paul Warburg appearing before the Senate on 7th February states,

"We shall have World Government, whether or not we like it. The only question is whether

World Government will be achieved by conquest or consent."

This is when the central bankers got to work on their plan for global government which

started with a three step plan to centralize the economic systems of the entire world.

These steps were:

Central Bank domination of national economies worldwide.
Centralized regional economies through super states such as the European Union, and regional

trade unions such as NAFTA.
Centralize the World Economy through a World Central Bank, a world money, and ending

national independence through the abolition of all tariffs by treaties like GATT.

1953 President Eisenhower orders an audit of Fort Knox. Fort Knox is found to contain over

700 million ounces of gold, 70% of all the gold in the world. Although Federal Law requires

an annual physical audit of Fort Knox's gold, it is under Eisenhower's presidency that the

last audit is carried out, for reasons that will soon become clear.
1963 President Kennedy issues dollar bills carrying a red seal, and called United States

Note. A lot of people believe he was already printing his own debt free money and that is

why he was killed, in much the same way as President Lincoln. However, these United States

Notes carrying the red seal were merely a reissue of the Greenbacks introduced by President

Lincoln.
What could have been motive though, is that on June 4, President Kennedy signed Executive

Order No. 11110 that returned to the United States government the power to issue currency,

without going through the Federal Reserve. This order gave the Treasury the power to issue

silver certificates against any silver bullion, silver, or standard silver dollars in the

Treasury. This meant that for every ounce of silver in the United States Treasury's vault,

the government could introduce new debt free money into circulation.

1967 Congressman Wright Patman, then the Chairman Of The House Banking And Currency

Committee, stated in Congress,

"In the United States today, we have in effect two governments...We have the duly

constituted government...Then we have an independent, uncontrolled and uncoordinated

government in the Federal Reserve System, operating the money powers which are reserved to

Congress by the Constitution."

1969 Congress approves laws authorizing the Federal Reserve to accept the IMF's, "SDR's," as

reserves in the United States and to issue Federal Reserve Notes in exchange for SDR's.
1971 All the pure gold had been secretly moved from Fort Knox, sold to international money

changers for the $35 per ounce price, and is believed to now be kept in London. This is

also when President Nixon repeals Roosevelt's Gold Reserve Act of 1934, allowing Americans

to once again buy gold. As a result of this gold prices began to soar. In fact, 9 years

later, in 1980, gold sold for $880 per ounce, a staggering 25 times what the gold in Fort

Knox was sold to the international bankers for.
1974 A New York periodical publishes an article claiming that the Rockefeller family were

manipulating the Federal Reserve for the purpose of selling off Fort Knox gold at bargain

basement prices to anonymous European speculators. 3 days after the publication of this

story, its anonymous source, long time secretary to Nelson Rockefeller, Louise Auchincloss

Boyer, mysteriously fell to her death from the window of her ten storey apartment block in

New York.
1975 Edith Roosevelt, the grand-daughter of President Theodore Roosevelt questioned the

actions of the government in a March 1975 edition of the New Hampshire Sunday News, in which

she stated,

"Allegations of missing gold from our Fort Knox vaults are being widely discussed in

European financial circles. But what is puzzling is that the Administration is not

hastening to demonstrate conclusively that there is no cause for concern over our gold

treasure, if indeed it is in a position to do so."

The United States government still did not undertake an audit of the gold in Fort Knox to

quell this speculation.

1981 When President Ronald Reagan took office, his conservative friends suggested to him

that he return to a gold standard, as a means to curbing government spending. President

Reagan was on board with this idea and so he appointed a group of men called the, "Gold

Commission," to undertake a feasibility study and report their findings back to Congress.
1982 President Reagan's, "Gold Commission," reports back to Congress and makes the following

shocking statement concerning gold,
"The U. S. Treasury owned no gold at all. All the gold that was left in Fort Knox was now

owned by the Federal Reserve, a group of private bankers, as collateral against the National

Debt."

1983 In order that Ecuador's government be allowed a loan of 1.5 billion dollars from the

IMF, they were forced to take over the unpaid private debts Ecuador's elite owed to private

banks. Furthermore in order to ensure Ecuador could pay back this loan, the IMF dictated

price hikes in electricity and other utilities. When that didn't give the IMF enough cash

they ordered Ecuador to sack 120,000 workers.
Ecuador were required to do a variety of things under a timetable imposed by the IMF. These

included: raising the price of cooking gas by 80% by November 1 2000; transferring the

ownership of its biggest water system to foreign operators; granting British Petroleum the

rights to build and own an oil pipeline over the Andes; and eliminating the jobs of more

workers and reducing the wages of those remaining by 50%.

1985 In order to illustrate that the great majority of money is not even printed these days,

please see the following speech by the late Lord Beswick which appeared in HANSARD, 27th

November 1985, vol. 468, columns 935-939, under the title, "Money Supply and the Private

Banking System," which states,

"Lord Beswick rose to call attention to the statement made by the Chancellor of the Duchy of

Lancaster on 23rd July 1985 that the 96.9 per cent increase in money supply over a five-year

period has been created by the private banking system and without Government authority….

The noble Lord said, 'My Lords, on 10th June this year I asked Her Majesty’s Government by

what amount the money supply had increased in the five-year period to mid-April 1985.

Interestingly, they gave me the answer in percentages and not in pounds. Having given him

prior notice, perhaps the Minister would be good enough later to give me the answer in money

terms.

The Government reply on 10th June was that the increase had been by 101.9 per cent, and that

of that very large amount only 5 per cent was accounted for by the state minting of more

coins and the printing of more notes. That 96.9 per cent increase represented not only an

enormous sum of money but also a crucially important factor in our economy.

I wanted to know by whom it had been created, and on 23rd July I again asked Her Majesty’s

Government to what extent this increase had Government approval. I was told by the

Chancellor of the Duchy, speaking for the Government, 'The 96.9 per cent represented new

bank deposits created in the normal course of banking business and no Government authority

is necessary for this.'

Had he said that some counterfeiter of coins or forger of notes had been at work there would

of course have been an immediate and indignant outcry, yet here we have a government

statement that private institutions have created this enormous amount of extra purchasing

power and we are expected to accept that it is normal practice and that the government

authority does not come into it.

When I asked whether we ought not to consider more deeply who was benefiting from this

money-creating power, the Minister said that the implications, though interesting, were

maybe too far reaching for Question Time, and so I raise the matter again in debate and hope

to get more enlightenment.

The issues are important, they are certainly under-discussed, perhaps not adequately

understood, and I hope that I am not being unduly unfair if I say that those who understand

the mechanisms often do very well out of them. I make no party point; it is all much bigger

and wider than that."

Notice how the Chancellor of the Duchy gave the game away when he said that no government

authority was needed for this present system of credit creating.

1987 Edmond de Rothschild creates the World Conservation Bank which is designed to transfer

debts from third world countries to this bank and in return those countries would give land

to this bank. This is designed so the Rothschilds can gain control of the third world which

represents 30% of the land surface of the Earth.
1988: The three arms of the World Central Bank, the World Bank, the BIS and the IMF, now

generally referred to as the World Central Bank, through their BIS arm, require the world's

bankers to raise their capital and reserves to 8% of their liabilities by 1992. This

increased capital requirement put an upper limit on fractional reserve lending.
To raise the money, the world's bankers had to sell stocks which depressed their individual

stock markets and began depressions in those countries. For example in Japan, one of the

countries with the lowest capital in reserve, the value of its stock market crashed by 50%,

and its commercial real estate crashed by 60%, within two years.

The idea is for the IMF to create more and more SDR's backed by nothing, in order for

struggling nations to borrow them. These nations will then gradually come under the control

of the IMF as they struggle to pay the interest, and have to borrow more and more. The IMF

will then decide which nations can borrow more and which will starve. They can also use

this as leverage to take state owned assets like utilities as payment against the debt until

they eventually own the nation states.

1991 At the Bilderberg Conference on June 6 to 9, in Baden-Baden, Germany, David Rockefeller

made the following statement,

"We are grateful to the Washington Post, the New York Times, Time Magazine, and other great

publications whose directors have attended our meetings and respected their promises of

discretion for almost 40 years. It would have been impossible for us to develop our plan

for the world, if we had been subjected to the lights of publicity during those years.

But the world is now more sophisticated and prepared to march towards a world government.

The super-national sovereignty of an intellectual elite and world bankers is surely

preferable to the national auto-determination practiced in past centuries."

Note: Click here for a Microsoft Excel spreadsheet with a list of people at the Bilderberg

Conferences.

1992 The third world debtor nations who had borrowed from the World Bank, pay 198 million

dollars more to the central banks of the developed nations for World Bank funded purposes

than they receive from the World Bank. This only goes to increase their permanent debt in

exchange for temporary relief from poverty which is caused by the payments on prior loans,

the repayments of which already exceed the amount of the new loans.
This year Africa's external debt had reached 290 billion dollars, which is two and a half

times greater than its level in 1980, which has resulted in deterioration of schools,

deterioration of housing, sky-rocketing infant mortality rates, a drastic downturn in the

general health of the people, and mass unemployment.

The Washington Times reports that Russian President, Boris Yeltsin, was upset that most of

the incoming foreign aid was being siphoned off, and he stated,

"Straight back into the coffers of Western Banks in debt service."

This year American taxpayers pay the Federal Reserve 286 billion dollars in interest on debt

the Federal Reserve purchased by printing money virtually cost free.

1994 The Regal Act is introduced in the United States to authorize the replacement of

President Lincoln's Greenbacks with debt based notes. They had lasted for 132 years.
1996 Ever wondered why all the world's production seems to be moving to China? In a report

entitled, "China's Economy Toward the 21st Century," released this year, it predicts that

the per capita income in China in 2010, will be approximately 735 dollars. This is less

than 30 dollars higher than the World Bank definition of a low income country.
1997 Less than two months before Tony Blair came to power in England, another interesting

entry can be found in HANSARD, 5th March 1997, volume 578, No. 68, columns 1869-1871, in

which the Earl of Caithness is recorded as having stated,

"The next government must grasp the nettle, accept their responsibility for controlling the

money supply and change from our debt-based monetary system. My Lords, will they? If they

do not, our monetary system will break us and the sorry legacy we are already leaving our

children will be a disaster."

On 6 May, only four days after Tony Blair's election as Prime Minister, his Chancellor of

the Exchequer, Gordon Brown, announces he is going to give full independence from political

control to the Bank of England.

In his 1997 book, The Grand Chessboard, Zbigniew Brzezinski reveals that Germany is the

largest shareholder in the World Bank. When you bear in mind that bankers of the Rothschild

bloodline were said to own Germany, "lock, stock and barrel," at the end of World War I, it

is not difficult to see who controls the World Bank now.

1998 The IMF eliminate food and fuel subsidies for the poor in Indonesia. At the same time

the IMF soaked up tens of billions of dollars to save Indonesia's financiers or rather the

international banks from whom they had borrowed.
A document leaks out of the World Bank, called, "Master Plan for Brazil." In it it spells

out five requirements to ensure a flexible public sector workforce. These are as follows:

Reduce Salary/Benefits
Reduce Pensions
Increase Work Hours
Reduce Job Stability
Reduce Employment

1999 In Brazil, Rio's privatized electric company named, "Rio Light," is responsible for

repeated blackouts in neighborhoods. The company blames the weather in the Pacific Ocean

for the blackouts, when Rio is on the Atlantic. The blackouts wouldn't have anything to do

with the fact that after privatization Rio Light axed 40% of the company's workforce would

it? No problem for Rio Light, as a result of that their share price went up 33%.
2000 The IMF require Argentina to cut the government budget deficit from its current $5.3

billion to $4.1 billion the following year, 2001. At that point unemployment was running at

20% of the working population. They then upped the ante and demanded an elimination of the

deficit. The IMF had some ideas of how this could be achieved. Cut the government's

emergency employment program from $200 a month to $160 a month.
They also asked for an across the board 12 - 15% cut in salaries for civil servants and the

cutting of pensions to the elderly by 13%. By December of 2001, middle class Argentineans

sick of literally hunting the streets for garbage to eat, started burning down Buenos Aires.

In January Argentina devalued the Peso wiping out the value of many common people's savings

accounts. Dismayed that they can't rape that country further, James Wolfensohn, President

of the World Bank, states,

"Almost all major utilities have been privatized."

How do they control the unrest within the population? Let me see, an Argentinean bus

driver, a thirty seven year old father of five, lost his job as a bus driver from a company

that owed him 9 months pay. During a demonstration against this and other injustices

perpetrated upon him and the population, the military police shot him dead with a bullet

through the head.

In Tanzania with approximately 1.3 million people dying of AIDS, the World Bank and the IMF

decided to require Tanzania to charge for what were previously free hospital appointments.

They also ordered Tanzania to charge school fees for their previously free education system

then expressed surprise when school enrolment dropped from 80% to 66%.

The IMF and World Bank have been in charge of Tanzania's economy since 1985 during which

time Tanzania's GDP dropped from $309 to $210 per capita, standards of literacy fell and the

rate of abject poverty increased to envelop 51% of the population.When the IMF and World

Bank took charge in 1985, Tanzania was a socialist nation. In June 2000 the World Bank

reported arrogantly,

"One legacy of socialism is that most people continue to believe the State has a fundamental

role in promoting development and providing social services."

There is rioting in Bolivia after the World Bank drastically increase the price of water.

The World Bank claim this is necessary to provide for desperately needed repairs and

expansion. This is poppycock, my own water supplier is Wessex Water, a privatized water

company that was actually owned by Enron! Since privatization (England was the first

country to privatize the public water supply), the quality dropped and the prices exploded.

Almost all privatized water companies in Britain have consistently failed to meet government

targets on leakages.

2001 Professor Joseph Stiglitz, former Chief Economist of the World Bank, and former

Chairman of President Clinton's Council of Economic Advisers, goes public over the World

Bank's, "Four Step Strategy," which is designed to enslave nations to the bankers. I

summarize this below,
Step One: Privatization.
This is actually where national leaders are offered 10% commissions to their secret Swiss

bank accounts in exchange for them trimming a few billion dollars off the sale price of

national assets. Bribery and corruption, pure and simple.

Step Two: Capital Market Liberalization.
This is the repealing any laws that taxes money going over its borders. Stiglitz calls this

the, "hot money," cycle. Initially cash comes in from abroad to speculate in real estate

and currency, then when the economy in that country starts to look promising, this outside

wealth is pulled straight out again, causing the economy to collapse.

The nation then requires IMF help and the IMF provides it under the pretext that they raise

interest rates anywhere from 30% to 80%. This happened in Indonesia and Brazil, also in

other Asian and Latin American nations. These higher interest rates consequently impoverish

a country, demolishing property values, savaging industrial production and draining national

treasuries.

Step Three: Market Based Pricing.
This is where the prices of food, water and domestic gas are raised which predictably leads

to social unrest in the respective nation, now more commonly referred to as, "IMF Riots."

These riots cause the flight of capital and government bankruptcies. This benefits the

foreign corporations as the nations remaining assets can be purchased at rock bottom prices.

Step Four: Free Trade.
This is where international corporations burst into Asia, Latin America and Africa, whilst

at the same time Europe and America barricade their own markets against third world

agriculture. They also impose extortionate tariffs which these countries have to pay for

branded pharmaceuticals, causing soaring rates in death and disease

There are a lot of losers in this system, but a few winners - bankers. In fact the IMF and

World Bank have made the sale of electricity, water, telephone and gas systems a condition

of loans to every developing nation. This is estimated at 4 trillion dollars of publicly

owned assets.

In September of this year, Professor Joseph Stiglitz is awarded the Nobel Prize in

economics.

2002 On April 12th every major paper in the USA runs a story that Venezuelan President Hugo

Chavez had resigned as he was, "unpopular and dictatorial." In fact he had been kidnapped

under a coup, where he was imprisoned on an army base. Following sympathy from the guards,

the coup falls apart and President Chavez is back in his office one day later.

Interestingly he has video evidence that whilst he was imprisoned on that base a United

States military attaché entered the base.
President Chavez, demonized by the controlled western media, gives milk and housing to the

poor, and gives land not used for production by big plantation owners for more than two

years, to those without land. His big crime however, was in passing a petroleum law that

doubled the royalty taxes from 16% to 30% on new oil discoveries, which affected Exxon Mobil

and other international oil operators.

He also took full control of the state oil company, PDVSA, which before was nominally owned

by the government, but in actual fact was in thrall to these international oil operators.

Not only that but President Chavez is also the President of OPEC (Organization of Petroleum

Exporting Countries). The main reason is, however, that President Chavez fully rejects the

World Bank's, "Four Step Strategy," and plan to reduce wages of the people for the benefit

of the bankers.

Indeed President Chavez has increased the minimum wage by 20%, which has increased the

purchasing power of the lower paid workers and strengthened the economy. His minister,

Miguel Bustamante Madriz, fully aware of the danger Venezuela poses to the bankers when

people contrast the fact it wouldn't let them in, for example, with Argentina who did,

stated,

"America can't let us stay in power. We are an exception to the new globalization order.

If we succeed, we are an example to all the Americas."

2006 America and Britain is now at war in both Afghanistan and Iraq, and looking toward an

invasion of Iran. As I mentioned before the greatest debt generator of them all is war.

This has pushed America to the brink of financial collapse. This timeline is intended as a

record of the past, but before you look at the conclusions, you may like to look at one

person's prediction for the near future in this mind-blowing article.

Conclusions
In my research, I have discovered those critics who currently condemn the monetary system

almost universally suggest that the only solution is to restore a gold backed currency. I

don't think any readers of this timeline can be in any doubt, that such a system will be

open to abuse by those very people who abuse it today. Indeed if we introduced a currency

backed by chairs, I believe we would find ourselves with nothing to sit on!

The only monetary system that seems to have worked in history is one which is backed by the

goodwill of a government and is debt free, such as President Lincoln's, "Greenbacks."

Fortunately, the Nobel Peace Prize winning economist, Milton Friedman came up with an

ingenious solution of wresting back control of the money supply from the bankers, paying off

all outstanding debt, and preventing inflation or deflation whilst this process is

completed. I summarize this below.

Using America as the example here, Friedman suggests that debt free United States notes be

issued to pay off the United States Bonds (debts) on the open market. In conjunction with

this, the reserve requirements of the day to day bank the regular person banks with, be

proportionally raised so the mount of money in circulation remains constant.

As those people holding bonds are paid off in United States notes, they will deposit the

money in the bank they bank with, thus making available the currency then needed by these

banks to increase their reserves. Once all these United States bonds are paid off with

United States notes, the banks will be at 100% reserve banking instead of the fractional

reserve system and then fractional reserve banking can be outlawed.

If necessary, the remaining liabilities of financial institutions could be assumed or

acquired by the United States government in a one-off operation. Therefore these

institutions would eventually be paid off with United States notes for the purpose of

keeping the total money supply stable.

The Federal Reserve Act of 1913 and the National Banking Act of 1864 must also be repealed

and all monetary power transferred back to the Treasury Department. The effects of this

will be seen very soon by the average person as their taxes would start to go down as they

would no longer be paying interest on debt based money to a handful of central bankers.

A law must be passed to ensure that no banker or any person in any way affiliated with

financial institutions, be allowed to regulate banking. Also the United States must

withdraw from all international debt based central banking operations ie. the IMF; the BIS;

and the World Bank.

If all the countries of the world adopted the conclusions above, then humanity will at last

be free of these central bankers and their debt based currency. It's a lovely idea, but

first we have to get it past our corrupt politicians many of whom are quite aware of the

scam that plays us on a daily basis, however rather than do the job we have elected them to

do, they keep their mouths shut and instead look after themselves and their families, whilst

the rest of us continue to be exploited.

"For what will it profit men that a more prudent distribution and use of riches make it

possible for them to gain even the whole world, if thereby they suffer the loss of their own

souls? What will it profit to teach them sound principles in economics, if they permit

themselves to be so swept away by selfishness, by unbridled and sordid greed, that, 'hearing

the Commandments of the Lord, they do all things contrary."

Pope Pius XI

Sources
The Life Of William Ewart Gladstone John Morley 1903
Secrets Of The Federal Reserve Eustace Mullins 1952
The Great Crash 1929 John Kenneth Gailbraith 1955
F. D. R. My Exploited Father-In-Law Curtis B. Dall 1967
Collective speeches of Congressman Louis T. McFadden Louis T. McFadden 1970
A Monetary History of the United States, 1867-1960 Milton Friedman and Anna J. Schwartz 1971
None Dare Call It Conspiracy Gary Allen 1972
Tragedy & Hope: A History of the World in Our Time Carroll Quigley 1975
The Truth in Money Book Theodore R. Thoren and Richard F. Warner 1984
The Grand Chessboard Zbigniew Brzezinski 1997
The Creature from Jekyll Island: A Second Look at the Federal Reserve - 3rd Edition G.

Edward Griffin 1998
The Money Changers Patrick S. J. Carmack 1998
The Shadows of Power: The Council on Foreign Relations and the American Decline - 2002

Edition James Perloff 2002
Globalization and Its Discontents Joseph E. Stiglitz 2003

http://iamthewitness.com

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