DANGER OF BANKING SYSTEM

DANGER OF BANKING SYSTEM

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If the American people ever allow private banks to control the issue of their currency first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of ALL property

Until their children wake up homeless on the continent their Fathers conquered I believe that banking institutions are more dangerous to our liberties than standing armies.? The issuing power should be taken from the banks and restored to the people to whom it properly belongs

- Thomas Jefferson
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History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance. -James Madison
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When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes... Money has no motherland; financiers are without patriotism and without decency; their sole object is gain." - Napoleon Bonaparte, Emperor of France, 1815
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“Whoever controls the volume of money in our 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.”

James A. Garfield, assassinated president of the United States
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The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. The privilege of creating and issuing money is not only the supreme prerogative of government, but it is the government’s greatest creative opportunity.”

Abraham Lincoln, assassinated president of the United States
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CREATING MONEY OUT OF NOTHING

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"The bank hath benefit of interest on all moneys which it creates out of nothing." William Paterson, founder of the Bank of England in 1694, then a privately owned bank
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"Banks lend by creating credit. They create the means of payment out of nothing. " Ralph M Hawtry, former Secretary to the Treasury.
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"Each and every time a bank makes a loan (or purchases securities), new bank credit is created — new deposits — brand new money." Graham F. Towers, Director, Bank of Canada
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"The process by which banks create money is so simple the mind is repelled." John Kenneth Galbraith, Economist
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“Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess." Irving Fisher, economist and author
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“That is what our money system is. If there were no debts in our money system, there wouldn’t be any money.”
Marriner S. Eccles, Chairman and Governor of the Federal Reserve Board
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"If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless situation is almost incredible -- but there it is." Robert Hemphill. Credit Manager, Federal Reserve Bank of Atlanta
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“Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.” Kenneth Boulding, economist
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INFORMATION & MEDIA MISLEADING


"The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent." John Kenneth Galbraith (1908- ), former professor of economics at Harvard, writing in 'Money: Whence it came, where it went' (1975).
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"It is well enough that people of the nation do not understand our banking and money system, for if they did, I believe there would be a revolution before tomorrow morning." Henry Ford, founder of the Ford Motor Company.
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"The banks do create money. They have been doing it for a long time, but they didn't realise it, and they did not admit it. Very few did. You will find it in all sorts of documents, financial textbooks, etc. But in the intervening years, and we must be perfectly frank about these things, there has been a development of thought, until today I doubt very much whether you would get many prominent bankers to attempt to deny that banks create it." H W White, Chairman of the Associated Banks of New Zealand, to the New Zealand Monetary Commission, 1955.
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"I am afraid the ordinary citizen will not like to be told that the banks can and do create money. And they who control the credit of the nation direct the policy of Governments and hold in the hollow of their hand the destiny of the people." Reginald McKenna, as Chairman of the Midland Bank, addressing stockholders in 1924.
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SELF CONFESSION


"Permit me to issue and control the money of a nation, and I care not who makes its laws."
Mayer Amschel Rothschild, International Banker
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“’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’.”

Sir Josiah Stamp Director, Bank of England 1928-1941
(reputed to be the 2nd richest man in Britain at the time)
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CHANGE


“I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money... I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with the Congress for sitting idly by and permitting such an idiotic system to continue.”

Congressman Wright Patman
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