About the creation of the money supply by the private banks

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Bancomat credit camatar talhar sistem hotieBankers:

„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.

„Let me issue and control a nation’s money and I care not who writes the laws”

– Mayer Amschel Rothschild (1744-1812), founder of the House of Rothschild.

„The few who understand the system will either be so interested in its profits or be so dependent upon its favours that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests”

– The Rothschild brothers of London writing to associates in New York, 1863.

„Banking was conceived in iniquity and was born in sin. The Bankers own the Earth. Take it away from them, but leave them the power to create deposits, and with the flick of a pen they will create enough deposits to buy it back again. However, take it away from them, and all the fortunes like mine will disappear, and they ought to disappear, for this world would be a happier and better world to live in. But if you wish to remain slaves of the Bankers and pay for the cost of your own slavery, let them continue to create deposits”

– Sir Josiah Stamp, President of the Bank of England in the 1920s, the second richest man in Britain.

„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.

„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.

„The banks do create money. They have been doing it for a long time, but they didn’t quite realize 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 all 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 credit”

– H. W. White, 1955, Chairman of the Associated Banks of New Zealand, to the New Zealand Monetary Commission.

Politicians:

„I believe that banking institutions are more dangerous to our liberties than standing armies”

– Thomas Jefferson, US President 1801-1809.

„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.

„If the American people ever allow private banks to control issue of their currency, first by inflation, then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs”

– Thomas Jefferson in the debate over The Re-charter of the Bank Bill (1809).

„If ever again our nation stumbles upon unfunded paper, it shall surely be like death to our body politic. This country will crash”

– George Washington (1732-1799), US President.

„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, 1751-1836, US President (1809-1817).

„Money plays the largest part in determining the course of history”

– Karl Marx writing in the «Communist Manifesto» (1848).

„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 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”

– Abraham Lincoln, US President 1861-5. He created government issue money during the American Civil War and was assassinated.

„I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands, and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war”

– Abraham Lincoln in a letter written to William Elkin, 1860.

„The death of Lincoln was a disaster for Christendom. There was no man in the United States great enough to wear his boots and the bankers went anew to grab the riches. I fear that foreign bankers with their craftiness and tortuous tricks will entirely control the exuberant riches of America and use it to systematically corrupt civilization”

– Otto von Bismark (1815-1898), German Chancellor, after the Lincoln assassination.

„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 in one block and as one nation, would attain economic and financial independence, which would upset their financial domination over the world. The voice of the Rothschilds prevailed… Therefore they sent their emissaries into the field to exploit the question of slavery and to open an abyss between the two sections of the Union”

– Otto von Bismarck, 1865.

„That this House considers that the continued issue of all the means of exchange – be they coin, bank-notes or credit, largely passed on by cheques – by private firms as an interest-bearing debt against the public should cease forthwith; that the Sovereign power and duty of issuing money in all forms should be returned to the Crown, then to be put into circulation free of all debt and interest obligations…”

– Captain Henry Kerby MP, in an Early Day Motion tabled in 1964.

„Banks lend by creating credit. They create the means of payment out of nothing”

– Ralph M Hawtry, former Secretary to the Treasury.

„… our whole monetary system is dishonest, as it is debt-based… We did not vote for it. It grew upon us gradually but markedly since 1971 when the commodity-based system was abandoned”

– The Earl of Caithness, in a speech to the House of Lords, 1997.

„Of all the contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money”

„We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people”

– Daniel Webster, circa 1845, leading American statesman.

„The fact is that there is a serious danger of this country becoming a Pluto-democracy; that is, a sham republic with the real government in the hands of a small clique of enormously wealthy men, who speak through their money, and whose influence, even today, radiates to every corner of the United States”

– William McAdoo, 1912, president Wilson’s national campaign vice-chairman, wrote in «Crowded Years».

„The real menace of our Republic is the invisible government, which like a giant octopus sprawls its slimy legs over our cities, states and nation… The little coterie of powerful international bankers virtually run the United States government for their own selfish purposes. They practically control both parties, … and control the majority of the newspapers and magazines in this country. They use the columns of these papers to club into submission or drive out of office public officials who refuse to do the bidding of the powerful corrupt cliques which compose the invisible government. It operates under cover of a self-created screen [and] seizes our executive officers, legislative bodies, schools, courts, newspapers and every agency created for the public protection”

– New York City Mayor John F. Hylan, «New York Times», March 26, 1922.

„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”

– US Congressman Louis T. McFadden in 1932.

„Some people think the Federal Reserve Banks are the United States government’s institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers”

– Louis T. McFadden, Chairman of the Committee on Banking and Currency (12 years) June 10, 1932, Congressional Record.

„David Rockefeller is the most conspicuous representative today of the ruling class, a multinational fraternity of men who shape the global economy and manage the flow of its capital. Rockefeller was born to it, and he has made the most of it. But what some critics see as a vast international conspiracy, he considers a circumstance of life and just another day’s work… In the world of David Rockefeller it’s hard to tell where business ends and politics begins”

– Bill Moyers, White House Press Secretary, July 1965 – January 1967.

Others:

„Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal – that there is no human relation between master and slave”

– Leo Tolstoy, Russian writer.

„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.

„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. Banks can in fact inflate, mint and un-mint the modern ledger-entry currency”

– Major L.L.B. Angus.

„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).

„A theft of greater magnitude and still more ruinous, is the making of paper money; it is greater because in this money there is absolutely no real value; it is more ruinous because by its gradual depreciation during the time of its existence, it produces the effect which would be proration of the coins. All those iniquities are founded on the false idea the money is but a sign”

– Count Destutt de Tracy, 1754-1836

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