6139008-History-of-Money

Nonetheless there is little doubt that on the one hand, the Federal Reserve planned to crash the market and forecloseupon vast wealth — or on the other, that this very act could otherwise only have demonstrated the completeincompetence or unfitness of such an entity as a "regulatory" body — governing beyond democracy, yet ostensibly onbehalf of the people... while, by its very nature, profiting from them to an ever greater degree without providing anyqualifiable or quantifiable service whatever. McFadden argues there is no power whatever to delegate control of theeconomy and currency to 12 private corporations with the inherent and proven interest in profiting from the economy. Hisefforts however fall short of proposing or qualifying perfected economy, and thus he does not argue against theindefensible position that such an entity as the Federal Reserve can only multiply debt to the ever greater detriment of itssubjects. Nonetheless, even if the establishment of the Federal Reserve were not precluded by the Constitution, its veryessence is in complete conflict with the inherent interests of productive, self-determined society. No society has everbenefited as the subject of usury. Under the pressures of the time, and despite the threat to his safety, McFadden detailsthe consequences of this incredible, inadvisable, undemocratic, and oppressive Federal Reserve Act. His address isperhaps most important as a detailing of crimes. Measured in terms of human misery, deprivation, injustice, and loss oflife, it records to posterity a truly appalling scope of evil.The majority of his speech is presented next. Less significant areas have been omitted or densified. To avoid confusion, afew In fact the gold standard existed to this time, but would have been impossible to honor while inflating the circulationas required to support greater degrees of production and prosperity. The mere inconsistent quantities of monetary goldand silver... and evolving prosperity... indeed make any precious metal monetary standard impractical to honor whilesupporting prosperity exceeding the quantity of the supposed standard. This is the critical flaw in the concept of aprecious metal monetary standard itself. The only reasonable object constituting the value of money representing thevalue of production is the production itself . As Mr. McFadden's speech itself attests, and contrary to his sentiments ofreturning to a gold standard, neither did this standard protect us, nor is it possible now to uphold such a standard. As theHonorable Congressman McFadden concludes, economic rectitude is improbable until the people are ready to assert theirdominion over an economy which does serve them. Stack in front of you the biographies of all the Wall Street giants, J.P.Morgan, Joe F. Kennedy, J.D Rockefeller, Bernard Baruch, and you'll find they all marvel at how they got out of the stockmarket and put their assets in gold just before the crash. None mention a secret directive, since revealed, sent by thefather of the Federal Reserve, Paul Warburg, warning of the coming collapse and depression. With control of the press andthe education system, few Americans are aware that the Fed caused the depression. It is however a well known factamong leading top economists. This itself would require a formula for proper economy; a formula for converting thepresent system into proper economy — and vigorous understanding and disposition, commensurate to their vitalobjective."The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece ofsleight of hand that was ever invented. Banking was conceived in iniquity and born in sin. Bankers own the earth. Take itaway from them, but leave them the power to create money and control credit, and with the flick of a pen, they willcreate enough money to buy it back again. Take this great power away from the Bankers and all the great fortunes likemine will disappear, and they ought to disappear, for this would be a better and happier World to live in. But if you wantto continue the slaves of Bankers and pay the cost of your own slavery, let them continue to create money and to controlcredit." - Sir Josiah (John) Stamp, Director and President of the Bank of England during the 1920'sRepeat of 1929? Probability Of Worldwide Economic Collapse Under Insoluble DebtUnemployed Chicagoans during Great Depression.What virtues of an 'economic' system could render a prospering nation, fully capable ofcontinuous production, jobless? Given that a circulation subject to interest multiplies debtin proportion to given commerce 1 , then a system having achieved either desirableproduction or a possible growth of production under debt service less than the everescalatingmultiplication of debt upon it, ultimately collapses under insoluble debt.Ultimate, system-wide insoluble debt is virtually inescapable, as, particularly in the laterstages of the potential lifespan of any such system, it is impractical that production andconsumption escalate at the true, perpetually escalating pace of debt multiplication. Notsurprisingly, this thesis parallels a principal model, the Kondratieff Long Wave (K Cycle)projection — an observation cycle of rising industry periodically fallen despite nonexhaustionof resources, and persistent capability to produce. The Great Depression wasan example of such a cycle conclusion which the BankLords understood and accelerated by withholding credit setting off achain effect of economic collapse after which the BankLords bought valuable assets for a penny on the dollar.Typically, BankLords loaned considerable currency to circulation as necessary to sustain new industry. They then withdrewor made too expensive the continual stream of credit necessary to maintain a circulation vital to that industry, and tookover the industry bankrupted by the crippling circulation or credit conditions imposed. Debt is irreversibly multiplied inproportion to the commerce which can be sustained by a circulation, regardless of rate of interest. On this ever greatersum of debt, the "central banking system" collects ever greater sums of interest in proportion to a commerce which iscrippled to an equally ever greater degree, under the weight of mounting debt. During the perpetual, irreversiblemultiplication of debt inherent to a circulation subject to interest, the central bank also takes advantage of the artificialconditions it imposes on otherwise viable commerce. It alone is master of the circulation, and the immediate and longrangecosts of that circulation. It alone makes credit available, denies credit, or makes credit too costly. It thusThe Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 300