6139008-History-of-Money

Representative Wright Patman, former Chairman of a House Banking Committee said: "The Federal ReserveBanks create money out of thin air to buy Government bonds... The Federal Reserve Bank is a total money makingmachine." [They have monopoly on counterfeiting money]Former Federal Reserve Bank Chairman Eccles was asked by Patman, "Mr. Eccles, how did you get the money tobuy these two billion dollars of government bonds." Mr. Eccles replied, "We create it." "Out of what?" Patman asked. "Outof the right to issue credit money", i.e. out of nothing. This right to create money out of thin air was given to the PrivateFederal Reserve Bank by a fraudulent act of Congress in 1913 known as the Federal Reserve Act, same fraud has beenhappening since the 17th century with the Private Bank of England and other banks. The FED issues Federal Reservecheques redeemable as Federal Reserve Notes only with no liability to itself. The Fed is not subject to taxes and in-depthaudits. The local banks create credit money as well but not currency notes. Read later about how most central banks areprivately owned/controlled outright or de-facto.Congressman Wright Patman (May 5, 1975): “In its sixty-year history, the Federal Reserve System has never beensubjected to a complete, independent audit, and it is the only important agency that refuses to consent to an audit by theCongressional agency, the General Accounting Office.”Money is (was?) a Commodity Substitute. A commodity substitute is required to immensely facilitate andspeed up the exchange of goods and services. Money that is backed by an existing asset is real money.However, today’s paper notes and credit balances are like IOUs or promissory notes, i.e. they are a promiseto provide a commodity at some point in the future and are not real money but rather promises to pay. Weare living in a privately controlled credit monopoly system that is producing “fiat” or illusionary money.(http://www.canadianactionparty.ca/MainPages/Comic.asp?Page=4&Language=English). Real money isdebt free and whether it is a coin or a real money note, it represents real value. Fiat money is a debt andwhether it is a private Federal Reserve Dollar Note (FRN) or a credit in a bank account, it represents an IOUfrom the Federal Reserve or local bank against which no asset exist that are owned by the issuer. The privateissuer gets to place a demand against everyone else’s assets or products and services to fulfill this debtwhilst the issuer is without any liability, i.e. a big legalized fraud. Lets see who is this “invisible hand“controlling the issue of money.Trilateralist strategy: monopolisation of the World's resources, production facilities, labour technology, markets,transport and finance. These aims backed up by the US military and Congressional and industrial complexes that arealready controlled and backed up by the NWO dictatorial elite.What is wrong with this system? A hell of a lot including Wars and Currency Hegemony!“"I believe there are more instances of the abridgement of freedom of the people by gradual and silent encroachments bythose in power than by violent and sudden usurpations. ... The means of defense against foreign danger historically havebecome the instruments of tyranny at home…..If tyranny and oppression come to this land, it will be under the guise offighting a foreign enemy.” President James MadisonImperialism according to the conception of Che: the highest form of development of capitalism, with the purpose toconquer economical and political power world wide. Sometimes by setting up a puppet government in a developingcountry, sometimes through deals laid down by the International Monetary Fund or the World Bank. That is the favouriteway capitalist governments subdue developing countries to open up their economies to the interests of westernmultinational concerns. In case such countries won't keep in line, the ultimate trick is to launch a military interventionunder the flag of the United Nations to restore "democracy" or "human rights". -Ernesto Che Guevara before his deathin 1967 (helped by the CIA)"End the philosophy of plunder and the philosophy of war will be ended as well" -Campanero Fidel Castro“The so-called Left-Right political spectrum is our creation. In fact, it accurately reflects our careful, artificial polarizationof the population on phony issues that prevents the issue of our power from arising in their minds” - author of TheOccult Technocracy of PowerWhy do we need money as a commodity substitute? From the energy of our bodies, we produce goods and services fortrade. Well, when we sell or buy some goods or services, in exchange, we can be given:http://www.canadianactionparty.ca/MainPages/Comic.asp?Page=4&Language=English• a commodity (barter)• real money (gold, silver or certificates of gold, silver)• commodity substitute such as fiat money (a promise to pay such as Federal Reserve Notes known as US dollarnotes) which could be debt-bearing if issued by private Banksters or debt-free if issued by THE PEOPLE• other arrangementsThis commodity substitute greatly facilitates and simplifies transactions which otherwise would take a very long time toarrange and thus facilitates production and consumption. It also allows one to assign a common value and store one’sproduction efforts for trading at some point in the future. This enhances and encourages productivity and human activity.The Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 56