When Benjamin Franklin was called before the British Parliament in 1757 and asked to account for the prosperity in the American colonies. He replied, "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 to no one." It was the struggle for financial sovereignty that precipitated the American Revolution when the (Rothschild) Bank of England forced the colonists to give up their own currency.
That war never ended.
Throughout his political life Thomas Jefferson fought off the covert attempts of European bankers to control the nation’s money supply through a privately-owned central bank. Andrew Jackson succeeded in defeating these racketeers, nationalizing the banks and paying off the public debt. Our country then flourished without inflation. When Abraham Lincoln issued ‘greenbacks’ that deprived private bankers of their monopoly control of the nation’s money supply he was assassinated. The international bankers battled for more than a century to establish a private central bank in the United States with the exclusive right to print their own fiat notes and exchange them for government debt. They succeeded in 1913 with The Federal Reserve Act, a covert coup that authorized a private central bank to create money out of nothing, lend it to the government with interest and control the national money supply, expanding or contracting it at will. Representative Charles Lindbergh called the Act "the worst legislative crime of the ages." Fifty years later, President John F. Kennedy almost restored our Constitutional monetary system when he issued debt-free Treasury Notes. He too was assassinated.
The Systemic Usury Parasite
In 1913 our sovereign authority to create interest-free money was unconstitutionally transferred to a transnational private banking cartel that has systemically infected our economy with a staggering national debt in the tens of trillions of dollars. Eighty-five cents of every dollar is now consumed as “interest” by the systemic usury parasite, draining its host of vital resources and collapsing our economy in bankruptcy. Ours is not the only nation to succumb to systemic parasitism.
The Systemic Usury Parasite has infected 170 countries, feeding itself through the central bank syndicate, a shareholder-owned consortium of private banks. Each central bank parasite has an exclusive monopoly on its host government’s monetary system, with the power to create public debt and expand or contract the host’s economy at will. Coordinating their monetary policies with each other through the Bank for International Settlements, the central bankers meet behind closed doors, appoint their own governors and set their own rules. Their books are not subject to audit by the individual governments that host them. The Bank for International Settlements originated as a Nazi money laundering operation and serves today as the cashiers window for the global casino. The IMF and World Bank tentacles of this parasite, infect unsuspecting governments with insurmountable debt, forcing these nations through “structural adjustment” policies to rob their taxpayers, slash beneficial social programs, transfer public assets to private owners and sell the nation’s treasures to transnational predators at fire sale prices. Government treasuries are the parasite’s host. Why rob just one bank when you can rob the whole nation? And why rob just one country when you can rob them all? Flushing the global economy of this systemic parasite begins with understanding how its debilitating web of debt is manufactured.
Although governments have inherent authority to create their own money, they foolishly borrow it from central banks, with interest. A central bank fabricates fiat notes (paper money) and credit by “lending” them into existence, in return for treasury bonds of the host government ~ taxpayer IOUs. This “money” has no pre-existing substance in reality and is conjured up through accounting entries. It is literally created out of nothing. The central bank first lends these accounting entries to its private owners and then to its downline commercial banks with interest. The commercial banks are permitted to lend nine times the amount of their borrowed accounting entries held “in reserve”. This nine-fold multiplication of borrowed accounting entries is described as “fractional reserve banking.” When borrowers accept these accounting entry loans they create massive inflation of the money supply which devalues the currency. These accounting entry loans must be “paid back” with compound interest that multiplies exponentially. More money must then be fabricated to pay this interest. Thus, all “money” that enters circulation is actually debt contrived by fictitious accounting entries. Every fiat dollar is an IOU from a borrower to a lender. A debt-based monetary system can never achieve equilibrium because compound interest always overwhelms the escalating money supply and eventually causes systemic collapse.
Today the nation is essentially bankrupt and hoping Barack Obama’s team of Wall Street advisors will forestall economic collapse. This expectation is equivalent to hoping that Al Capone will make our streets safe. The economic recovery team is a Trojan horse filled with the same Wall Street racketeers that infected the global economy with a quadrillion dollar derivatives bubble, using deliberately deregulated mechanisms. They have successfully held the nation hostage with a universal credit freeze and threats of systemic collapse if trillions of dollars in ransom demands are not met. But why would our government agree to double its public debt to save ruthless gamblers from bankruptcy? Why would our government re-victimize taxpayers who did not participate in this global fraud and whose investments, retirement savings, pension plans and real estate values have already been eviscerated by these swindlers? The answer is that the Treasury Secretary and Federal Reserve Chairman have historically represented a parasitic transnational crime syndicate, not the host government and its taxpayers.
The US Government is an instrument of the organized crime syndicate described alternatively as the Washington Consensus, the Octopus, the Shadow Government, the New World Order and Wall Street. This syndicate of transnational racketeers includes bankers, interlocking corporate directors, American, European and Asian “royal” families, cocaine and opium drug traffickers, illegal weapons dealers and kingpin controllers of blood diamonds, gold and oil. From the very beginning of America’s fledgling democracy these international predators surreptitiously gained control of the railroads, banks, oil and vital infrastructure, using a maze of corporations, offshore banks and holding companies that disguised foreign ownership of national resources. During the 19th and 20th centuries this syndicate secured private ownership of vital infrastructure and natural resources worldwide by engineering wars and assassinating democratic leaders. They financed Trotsky, Lenin and Hitler, using syndicate members within the Treasury and Federal Reserve to protect “their” international assets. Thomas Lamont, a JP Morgan banker, who was the US Treasury’s representative at the 1919 Treaty of Versailles negotiations, personally raised $100 million to finance Benito Mussolini. William Boyce Thompson, director of the New York Federal Reserve traveled to Russia to destabilize the Bolshevik Revolution, ensuring that railroads, banks, oil and vital resources would remain in private hands.Across the globe democratically elected leaders were deposed or assassinated that dared to return natural resources to their people. Two notorious Nazi collaborators, Allen Dulles (CIA director) and his brother John Foster Dulles (Secretary of State), were Wall Street attorneys who worked for the syndicate to brutally suppress every democratic uprising that threatened their control over national assets that rightfully belong to sovereign nations.
General Smedley Butler is best remembered today for his oft-quoted statement in the socialist newspaper Common Sense in 1935: "I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. The record of racketeering is long. I helped purify Nicaragua for the international banking house of Brown Brothers in 1909-12. I brought light to the Dominican Republic for American sugar interests in 1916. I helped make Honduras 'right' for American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went its way unmolested.... Looking back on it, I felt I might have given Al Capone a few hints. The best he could do was to operate his racket in three city districts. We Marines operated on three continents."
Wall Street racketeers who bribed members of Congress to deregulate Wall Street, could not have held our nation hostage without collusion from the Treasury Secretary and Federal Reserve Chairman. They are members of the crime syndicate that loots governments through the central bank system and private equity firms like JP Morgan, Citigroup, Bank of America, Goldman Sachs and Carlyle. Treasury Secretary Henry Paulson, a Goldman Sachs CEO, is also a member of Robber Barons, Inc ~ the IMF Board of Governors. Treasury Secretary Lawrence Summers organized the looting of Russia, stripping one trillion dollars from Russia’s struggling economy and shifting state-owned assets to private owners. Larry Summers succeeded Robert Rubin as Treasury Secretary in 1999, marking their success in repealing Depression-era laws that banned the merger of banks, brokers, insurance firms and investment banks. A former co-chairman of Goldman Sachs, Rubin joined CEO Sanford Weill at Citigroup, the first financial institution to fully embrace the Rubin-led repeal. At Rubin’s urging, Citigroup thrived by bundling loans as securities (mortgages, credit card loans, auto loans, student loans) and selling them as collateralized debt obligations (CDOs). Concurrently Larry Summers championed the deregulation of financial derivatives, ensuring the globalization of losses from those securities. With $2 trillion in junk loans, Citigroup fraud has metastasized to 100 countries making it too infectious to quarantine (“too big to fail”). Rubin protégés advised Obama that taxpayers should assume responsibility for $306 billion of Citigroup’s junk loans. Rockefeller owns Citigroup and JP Morgan Chase, two of the investment banks that own the Federal Reserve. Obama’s Treasury Secretary, Timothy Geithner, is a Board Director at the central bank headquarters, the Bank for International Settlements, and is a protégé of Henry Kissinger, Robert Rubin and Lawrence Summers.
Author Bernard Lietaer, a former central banker, writes in “The Future of Money:”
"Your money's value is determined by a global casino of unprecedented proportions: $2 trillion are traded per day in foreign exchange markets, 100 times more than the trading volume of all the stock markets of the world combined. Only 2% of these foreign exchange transactions relate to the "real" economy reflecting movements of real goods and services in the world, and 98% are purely speculative. This global casino is triggering the foreign exchange crises which shook Mexico in 1994-95, Asia in 1997 and Russia in 1998. These emergencies are the dislocation symptoms of the old Industrial Age money system."
These emergencies are also the hallmark of the transnational crime syndicate controlling the global economy through financial terrorism. Collapsing healthy economies with currency speculation, fabricating trillions of dollars in fictitious debt and destroying productive businesses with short selling, these vultures have swarmed across the globe devouring one nation after another. The US is their current target.
Another Board Director at the predatory Bank for International Settlements, Federal Reserve Chairman Alan Greenspan, used the standard Rockefeller-Rothschild blueprint for engineering the US financial collapse: deliberately expanding cheap credit to inflate the web of debt, entice rampant speculation and then suddenly withholding credit to violently contract the economy. A tactic used by Rothschild’s Bank of England to rob and control its colonies, this violent contraction catalyzes waves of foreclosures, bankruptcies and layoffs that force sellers to accept pennies on the dollar for their assets. Alternatively described as Milton Friedman’s economic ‘Shock Treatment’ and Henry Kissinger’s blueprint for “making the economy scream,” this financial terrorism is a psychopathic formula to bring a nation to its knees.
Instead of allowing a handful of corrupt Wall Street investment banks to implode from well-deserved bankruptcy, The Swindler Bailout engineered by the US Treasury and Federal Reserve extorts trillions of taxpayer dollars to purchase worthless junk loans from racketeers, reimburse speculators for their gambling losses, finance mergers and acquisitions to devour healthy banks and concentrate unearned wealth in expanded syndicate banking monopolies. Government loans could have been directly issued to victims of predatory lenders to refinance the mortgages that have devastated home values nationwide. Instead, taxpayer loans to the generators of these toxic assets reward criminals and simultaneously drain the US Treasury. Insurmountable debt, engineered by the Systemic Usury Parasite and compounded by the Swindler Bailout, lays the groundwork for “structurally adjusting” the American economy, permanently stripping citizens of their remaining assets, health care protection and their confiscated wages held in trust by the Social Security Administration. This premeditated Grand Theft is the prelude for national insolvency and subsequent sale of the nation’s assets to transnational pirates.
Disintegration is a Blessing
Reuters reported in February that renowned investor George Soros said the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis. We needn’t wait to see how thugs might resolve the crisis. It would be much wiser to take the path of least resistance and prevent economic collapse by making the systemic correction that is long overdue.
Imagine for a moment that worldwide governments had retained their exclusive authority to create money and control credit and had strictly regulated the transparent movement of capital within their own borders. Had they remained autonomous, systemic global collapse would not have been possible. US investment banks could not have infected foreign banks and collapsed Iceland’s economy. Small, autonomous units counteract systemic risk by isolating disease and preventing it from metastasizing to the whole system, as nature wisely demonstrates. This “disintegration” of the world financial system is an opportunity to dis – integrate every transnational conglomerate that binds all systems together in one monolithic web of systemic debt. Autonomous interest-free monetary systems that support small community banks, small farms and local producers of goods and services would protect self-sustaining economies from the systemic risk caused by the contagious collapse of intertwined conglomerates. Monopoly strangleholds on any commodity or economic system are lethal by nature. The greater their scope, the greater the risk of contagious catastrophic collapse ~ a fact we are now witnessing.
Dis – integrating the parasitic central bank syndicate that is strangling every country with insurmountable debt must be accompanied by effective quarantine of the global gambling casino: replace the Glass-Steagall firewall between commercial banks (public savings) and reckless investment banks; strictly regulate commodities futures and derivatives trades; ban over-the-counter transactions that are not transparent; criminalize anti-social speculation that artificially drives up the price of essential commodities and threatens public welfare; prosecute naked short sellers that collapse healthy businesses; enforce anti-trust laws that separate large investment sectors in finance, insurance, and real estate; dis – integrate every multinational conglomerate that is too criminal to care and too big to jail; end the fabrication of accounting entry debt by reforming the monetary system to issue and regulate credit through a transparent and strictly controlled public agency and localize every system that is critical to social functioning.
Isolating and strictly regulating Wall Street and offshore casinos to prevent gambling addicts from devastating the productive economy may eventually protect the global financial system from organized crime but its victims will never be reimbursed for their losses. Productive workers who lost their life savings and retirement pensions slowly accumulated over a lifetime of contributing have been thoroughly robbed by sociopaths who instantly amassed unearned wealth by parasitic gambling that contributes nothing of value. They will retire, without being prosecuted, in luxury.
The Mechanics of Money
Money is not a commodity. It is a token of value. Any two people can transfer whatever they like as a medium of exchange. We agree as a group to use one medium of exchange to simplify transactions. The purpose of inventing a medium of exchange is to sustain the flow of goods and services circulating in an economy. If we agreed to use gold or feathers as tokens, the medium of exchange would be finite and too scarce to meet everyone’s needs ~ and a finite physical commodity can be monopolized by individuals who might hoard the tokens and constrict the flow of goods and services that are needed by everyone in society. Paper is plentiful. In theory, we agree to the fiction that paper money and computer credits have value in order to produce and exchange the commodities we need. But they have no intrinsic value.
The pieces of paper and computer entries that are fabricated by private corporations, what we call money, can and should be created and regulated by a legitimate public agency. It is irrational to transfer this vital social function to private corporations that thrive on usury and destabilize economies by expanding and contracting fabricated credit. Usury is not a fact of life, an inherent condition one finds throughout the natural world. It is a man-made concept that could create opportunities for cultures to expand productive activities but which has been historically used by parasites that eventually kill the host.
Money and credit can and should be used to keep the economy flowing, facilitating the exchange of real goods and productive services that meet the needs of society ~ without fabricating debilitating and fictitious debt. This, in fact, was the intention of Article 1, Section 8 of the United States Constitution that authorized only Congress to coin money and regulate its value. The founders of our nation understood that a government does not need to borrow its money from a private corporation. It has the power to create its own money. We are that government and that power belongs to us.
Our government has the constitutional authority to create money and issue credit without ever charging interest or creating debt. It can directly spend this money into circulation and extinguish excess currency to prevent inflation. Or it can charge a reasonable interest rate and use this revenue in lieu of taxes. Publicly-owned community banks could charge a moderate interest rate that is returned to depositors as dividends, or it could be used to generate revenue for implementing worthwhile social projects. Monetary science comes equipped with mathematical formulas to achieve permanent monetary equilibrium through a set of principles that balance the money supply and maintain currency stability, eliminating recessions, depressions, inflation and deflation forever. A debt-free monetary system can be mathematically regulated to facilitate the flow of goods and services as a public service. The mechanics have been understood for centuries. All that is required is social consensus.
Decentralizing the banking system would dis-integrate the global stranglehold of transnational racketeers and provide protection from future systemic collapse. Geraldine Perry has suggested that if banks are to remain privately owned they must be required to operate as independent businesses with 100% reserves and use their own capital for loans, not fictitious accounting entries and not other people's money. The national money supply would be issued by a public monetary authority. Banks would operate as any other business should and they would be regulated by the local governmental entities where they are located, thereby eliminating the need for a national regulatory scheme.
Completely abolishing the privatization of the national money and credit supply would liberate human energy to create a world of abundance in which every human community could produce and exchange the goods and services it needs without ever being enslaved by fictitious debt. Government control of the national money supply would prevent inflation and escalating debt by issuing constitutional interest-free money. Moderate interest rates could then be used to finance the operations of city, state and federal government in lieu of taxes. Two brilliant authors, attorney Ellen Brown and historian Stephen Zarlenga have articulated sound mechanics for a publicly-owned monetary system. All that remains is public demand for this reform.
What is most essential to liberating humankind from centuries of covert suppression by parasitic racketeers is financial sovereignty. Political freedom without economic freedom is meaningless. The self-induced implosion of a corrupt financial system provides our generation with a precious opportunity to secure the blessings of liberty envisioned by our ancestors and finish the American Revolution.