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Why central banking persists - George F. Smith - Barbarous Relic

You state, “Where you find fiat money -- whether it's gold, silver, paper, or digits -- you don't have a free market.” As JP Morgan admitted, “Only gold is money” and it’s money because of it’s guaranteed scarcity. Therefore gold could never be a fiat currency. Silver wasn't so scarce and expanded the money supply by including the new Nevada silver mining production causing an expansion and collapse in 1893.

Fractional currency and reserve banking before 1914 was greatly restricted when we were on a 100% gold standard. After 1914 gold backed only 40% of the money supply and the Fed counterfeiters were now in charge with no restraints. This new counterfeited money representing 60% of the money supply, funded WW1 and by 1945 only 17% of the money was backed by gold.

The Fed is a foreign cabal of counterfeiters that took over the management of our money supply in the Fed Act of 1914. While before 1914, fractional reserve banking enabled bankers to loan out bank deposits and lose customer money on bad loans causing the bank runs and failures of 1873 and 1907, this new 40% gold backing allowed the counterfeiters to create new money from new bank loans with only typically 10% bank reserves required to reside in the bank.

Before 1914 there was virtually no new money being counterfeited as we were on a 100% gold standard. JP Morgan had the US Treasury print up unbacked currency to solve the bank run of 1907 for which he was declared a hero even though it was technically illegal. The damage to our economy occurred with the Feds new 40% gold backing that allowed new currency to be created through typically 10% bank reserve requirements, so $100 deposited in the bank could now back $1000 in new counterfeited money.

By 1933, we probably had only 40% gold backing of our money supply considering that by 1945 only 17% was backed by gold. There was no gold in the banks, not just because the Fed counterfeited our money supply, but also because the Fed were gold thieves as well. According to House Banking Chairman Louis McFadden, the Fed stole our gold and sent it to Germany. Later it was discovered to have funded our next conjured up enemy – Hitler.

After the bank runs of 1931-33 when America discovered the bank gold theft and money supply debasement, Senator Bronson Cutting led the fight to eliminate fractional reserve banking but was assassinated in a plane crash.

Also see Louis McFadden’s 1934 congressional speech imploring his fellow congressmen to arrest the Fed for gold theft and treason. They were scared sh*tless of the foreign bankers controlling America through the Fed and Wall St because they knew they could be killed. They abandoned him to be assassinated on their 3rd attempt in 1936.

House Banking Chairman Louis McFadden - An Astounding Exposure
http://www.afn.org/~govern/mcfadden.html

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Début de l'article :Only a few people care whether central banking persists, and they're the ones who profit from it. In some cases they profit enormously. The average Joe or Jill doesn't know about central banks and doesn't care to know. To the ones at the top of the political - economic heap, this is how they want it. A central bank comes about through political favors -- favors to big bankers and to politicians intent on buying votes and making war. Where you find a country with a central bank, you have law... Lire la suite

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