The Creature from Jekyll Island

Make sure to watch Money Masters and Secret of Oz as well.

http://video.google.com/videoplay?docid=-515319560256183936#

 

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
Henry Ford


SOME OTHERS



"If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered." - Copy to Clipboard

-- Thomas Jefferson


“History records that the money-changers have used every form of ruse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance."

– James Madison



“Whoever controls the volume of money in our country is absolute master of all industry and commerce...and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”

James A. Garfield, assassinated president of the United States



“The Federal Reserve definitely caused the Great depression by contracting the amount of currency in circulation by one-third from 1929 to 1933.”

Milton Friedman, Nobel Prize winning Economist


Any system which gives so much power, and so much discretion to a few men, so that mistakes –excusable or not – can have such far reaching effects, is a bad system. It is a bad system to believers in freedom, just because it gives a few men such power without any effective check by the body politic. This is the key political argument against an independent central bank.

Milton Friedman, Nobel Prize winning Economist




"The powers of financial capitalism had another far reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements, arrived at in frequent private meetings and conferences. The apex of the system was the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the worlds' central banks which were themselves private corporations. The growth of financial capitalism made possible a centralization of world economic control and use of this power for the direct benefit of financiers and the indirect injury of all other economic groups."

Tragedy and Hope: A History of The World in Our Time (Macmillan Company, 1966) Professor Carroll Quigley of Georgetown University, highly esteemed by his former student, former US President, Bill Clinton


“’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.

Banking was conceived in iniquity and born in sin. Bankers own the Earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough money to buy it back again...

Take this great power away from them and all great fortunes like mine will disappear, and they ought to disappear, for then this would be a better and happier world to live in. But if you want to continue to be slaves of the banks and pay the cost of your own slavery, then let bankers continue to create money and control credit’.”

Sir Josiah Stamp Director, Bank of England 1928-1941
(reputed to be the 2nd richest man in Britain at the time)

 

I voted for Carter and there was a serious inflation in the country He never mentioned the fed as far as I remember. Should have stayed home from the polls.

 

IIRC Some of the Muslim countries don't have Central Banks.

 

that and money masters are EXCELLENT, should be required reading in high school.

One thing, though, that I have personally always struggled with is that in some sense I actually prefer not necessarily a cartel of private bankers (the fed) but some entity that is at least partially outside of government control. The reason is because politicians are corrupt and for sale, and I almost see an independent entity as a needed check-and-balance. Of course, we need way more transparency and accountability than the current setup IMO.

Odysseus

 

Seriously dudes, can't you click on the link I provided??

Beside Hong Kong not being a country:

http://en.wikipedia.org/wiki/Hong_Kong_Monetary_Authority

"The Hong Kong Monetary Authority (Chinese: 香港金融管理&#23616 or HKMA (金管&#23616 is Hong Kong's central banking institution (more precisely, currency board). It is a government authority founded on 1 April 1993 via the consolidation of "Office of the Exchange Fund" and the "Office of the Commissioner of Banking". The organisation reports directly to the Financial Secretary"

Panama seems to be correct, so we can add that to the list of 3...By the way Panama doesn't even have its on currency, they use the dollar, why would they need a central bank???

http://www.fenixpanama.com/dollarization-of-panama.html

Which one and do we really want to follow those countries??

Bottomline is, basicly every country has a central bank, period...

 

Here's a sort of updated version of "The Money Masters" - two DVDs 4 hours in "chunks".

http://www.youtube.com/watch?v=tmMa4vDirLc

Also interesting are some of the Eustace Mullins interviews on utube re the Central Bank since he was one of the first people to spill the beans on the current Federal Reserve. Ezra Pound supposedly told him to research it and even T.S.Eliot is tied into the story.

 

Except when the independent entity captures the government.

 

My bad apparently even Somalia and Yemen have Central Banks. Somalia.

 

I read that this is Bernanke's belief as well and is the reason that he is committed to creating as much new money as necessary to prevent another depression.

My question is, why don't we have hyperinflation given the trillions of dollars already created? I have read that the reason is because the money is being hoarded by the banks and has not been released into public circulation in the form of loans. The banks are instead using the money to buy stocks and treasuries, which has been supporting these markets. However, it seems that hyperinflation will have to hit at some point, but when?