If all bank loans were paid up…

IMG Auteur
 
 
From the Archives : Originally published February 01st, 2009
152 words - Reading time : less than a minute
( 8 votes, 4.8/5 ) , 2 commentaries
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
2
comment
Our Newsletter...
Category : Fundamental





“If  all the bank loans were paid up, no one would have a bank deposit, and there would not be a dollar of currency or coin in circulation.

This is a staggering thought. We are completely dependent on the commercial banks for our money.

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 upon the picture, the tragic absurdity of our hopeless position is almost incredible - but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it is widely understood and the defects remedied very soon”.


Robert H. Hemphill,

Credit manager of the Federal Reserve Bank of Atlanta

January 24, 1939








<< Previous article
Rate : Average note :4.8 (8 votes)
>> Next article
Comment this article
>Follow all commentairies
You must be logged in to comment an article8000 characters max.
Log in or Sign up
  All Favorites Best Rated  
@radar2350
In my opinion,: You are absolutely correct, but with a number of respectful caveats - as follows:

1. In my view, it is not only the bankstering system - all democratic governments are also frauds.

2. Commoners the world over have never been in a position of such tremendous econimic strength to exercise our will - by simply refusing to fund userous governments and banksters.

3. Commoners must at some point in time begin to realize we have to make a choice - either we sit idly as banksters and governments intentionally bankrupt each of us vis-a-vis the slow frog boil - or we turn the tables to quickly and seamlessly bankrupt them.

4. That said, however, it was and still is my further recommendation for commoners to go further - by quietly leveraging all personal assets to the maximum FIRST - using fiat dollar loans to prepare for calamity by storing necessary consumables, barter inventories and precious metals et al - THEN refuse to repay fiat loans, all taxes and every other governmental bankstering encumberance.

I believe my online comments detailing a more lengthy opinion were first posted in early 2008. In mid 2010 a google hit-count of my name and or email address would yield approx 2.4 M. However, as I continued reposting same through until later 2010 - my google hit-count suddenly dropped to 84.

FYI : I never post comments by psyedonym or alias, because I believe leadership requires a name.

In closing, I want to thank you and the monitors of 24hrgold for posting your succinctly adroit comment.
Yours, very truly.

Peter Carson
cansteel1978@yahoo.ca




The next revolution in America will not be with guns, it will/could easily be accomplished by a sudden and overwhelming viral event of citizens haulting the payment on loans to a fraudulant banking system. Remember, not one person from any government connected financial entity on wall street has gone to jail for fraud or treason. Hank Paulson and his ilk have saved THEIR fraudulant system. We average citizens feel powerless because the financial villans have bought the politicians and in doing so have set US on a ruinous course.
Rate :   1  0Rating :   1
EmailPermalink
Latest comment posted for this article
@radar2350 In my opinion,: You are absolutely correct, but with a number of respectful caveats - as follows: 1. In my view, it is not only the bankstering system - all democratic governments are also frauds. 2. Commoners the world over have never bee  Read more
Peter C. - 2/11/2011 at 10:22 PM GMT
Top articles
Latest Comments
Buyer’s Remorse
13:11gfs543
Mr. Kunstler, you have written an outstanding dissection and clarification of the Mueller probe. Thank you!
On The Hot Seat
25 MarS W.
Good questions ! Butler has never been right and I am going back years. Silver has been in massive downtrend for 8 years and will likely be...
On The Hot Seat
22 MarRobert L.
It is now close on two years ago that Ted Butler said "I am convinced that silver will soon explode in price................the price of silver wil...
Coercion Meets Its Match
24 MarS W.
When I wet to Uni I received a TEAS payment (tertiary education assistance scheme ). It was not a lot of money but it helped. I also worked shifts...
Deadly Serious
22 MarJ.0
Conservatives generally treat others with gentleness and compassion. This is often mistaken for weakness by the Left. Big Mistake. Don’t poke...
The Blind Leading the Deaf and Dumb
19 MarJ.2
The economic depression looming ahead will be violent, but it could also be very short. All that is required is for the government to get out of t...
Ides and Tides
17 MarThemis
The Federal Reserve chairpeople bring to mind Chamberlain's return from Germany prior to WW II, reassuring the British people of "peace in our time".
The Domino Effect – Romania joins Gold Repatriation exodus
17 MarThemis1
The Bank of England, through its arbitrary refusal to repatriate Venezuela's remaining gold, has lost the trust of smaller nations. It has bowed t...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS