"We are absolutely without a permanent money system...
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 becomes widely understood and
the defects remedied very soon."
Robert H. Hemphill, Credit Manager
Federal Reserve Bank of Atlanta, Georgia (1935)
In the foreword to a book by Irving Fisher, entitled 100% Money (1935)
"Each and every time a bank makes a loan (or purchases
securities), new bank credit is created — new deposits — brand
new money."
"I am afraid that the ordinary citizen
will not like to be told that banks
can and do create money
...And they who control
the credit of the nation
direct the policy of Governments
and hold in the hollow of their hands
the destiny of the people"
Reginald McKenna,
past Chairman of the Board, Midlands Bank of England
“Thus, our national circulating medium is now at
the mercy of loan transactions of banks, which lend, not money, but promises
to supply money they do not possess.”
"Everyone sub-consciously knows banks do not lend
money. When you draw on your savings account, the bank doesn't tell you
you can't do this because it has lent the money to somebody else."
"If all the bank loans were paid, no one could have
a bank deposit, and there would not be a dollar of coin or currency in
circulation. This is a staggering thought. We are completely dependent
on the commercial banks. 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 of the picture, the tragic
absurdity of our hopeless situation is almost incredible -- but there
it is."
Robert Hemphill. Credit Manager, Federal Reserve Bank
of Atlanta
“One thing to realize about our fractional
reserve banking system is that, like a child’s game of musical
chairs, as long as the music is playing, there are no losers.”
“I have never yet had anyone who could, through
the use of logic and reason, justify the Federal Government borrowing
the use of its own money... I believe the time will come when people
will demand that this be changed. I believe the time will come in this
country when they will actually blame you and me and everyone else connected
with the Congress for sitting idly by and permitting such an idiotic
system to continue.”
“Money is a new form of slavery, and distinguishable
from the old simply by the fact that it is impersonal, that there is
no human relation between master and slave.”
“’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)
"Throughout the ages,the devices of cunning men have turned money to their nefarious purposes.
Money, beginning with private enterprise as a means of escaping the limitation of barter, soon
developed the cheat to exploit the honest trader who, in an effort to protect himself, turned to
government for protection, only to find that now he had two thieves, the private money changer
and the political plunderer working hand in glove against him. By this combination the money changer
gained the prestige of political sanction through legislative license and the state secured a deceptive
device for laying taxes upon the citizenry (by means of the hidden tax called inflation). It was and
remains a vicious alliance."
“All of the perplexities, confusion, and distress
in America arises, not from the defects of the Constitution or Confederation,
not from want of honor or virtue, so much as from downright ignorance
of the nature of coin, credit, and circulation.”
John Adams, Founding Father of the American Constitution
“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 Government should create, issue, and circulate all
the currency and credits needed to satisfy the spending power of the
Government and the buying power of consumers. By the adoption of these
principles, the taxpayers will be saved immense sums of interest. The
privilege of creating and issuing money is not only the supreme prerogative
of government, but it is the government’s greatest creative opportunity.”
Abraham Lincoln, assassinated president of the United States
"Once a nation parts with the control of its currency
and credit, it matters not who makes the nations laws. Usury, once in
control, will wreck any nation. Until the control of the issue of currency
and credit is restored to government and recognised as its most sacred
responsibility, all talk of the sovereignty of parliament and of democracy
is idle and futile."
"For more than a century, ideological extremists at either end of the political spectrum have seized
upon well-publicized incidents to attack the Rockefeller family for the inordinate influence
they claim we wield over American political and economic institutions.
Some even believe we are part of a secret cabal working against the best interests of the United
States, characterizing my family and me as "internationalists" and of conspiring with others around
the world to build a more integrated global political and economic structure - one world, if you will.
If that's the charge, I stand guilty, and I am proud of it."
'The world is governed by very different personages from
what is imagined by those who are not behind the scenes.'
Benjamin Disraeli, first Prime Minister of England,
in a novel he published in 1844 called Coningsby, the New Generation
'The governments of the present day have to deal not
merely with other governments, with emperors, kings and ministers, but
also with the secret societies which have everywhere their unscrupulous
agents, and can at the last moment upset all the governments plans. '
British Prime Minister Benjamin Disraeli, 1876
"In March, 1915, the J.P. Morgan interests, the
steel, shipbuilding, and powder interest, and their subsidiary organizations,
got together 12 men high up in the newspaper world and employed them
to select the most influential newspapers in the United States and sufficient
number of them to control generally the policy of the daily press....They
found it was only necessary to purchase the control of 25 of the greatest
papers. An agreement was reached; the policy of the papers was
bought, to be paid for by the month; an editor was furnished for each
paper to properly supervise and edit information regarding the questions
of preparedness, militarism, financial policies, and other things of
national and international nature considered vital to the interests of
the purchasers."
U.S. Congressman Oscar Callaway, 1917
'The real menace of our republic is this invisible government
which like a giant octopus sprawls its slimy length over city, state
and nation. Like the octopus of real life, it operates under cover of
a self created screen....At the head of this octopus are the Rockefeller
Standard Oil interests and a small group of powerful banking houses generally
referred to as international bankers. The little coterie of powerful
international bankers virtually run the United States government for
their own selfish purposes. They practically control both political parties.'
New York City Mayor John F. Hylan, 1922
'From the days of Sparticus, Wieskhopf, Karl Marx, Trotsky,
Rosa Luxemberg, and Emma Goldman, this world conspiracy has been steadily
growing. This conspiracy played a definite recognizable role in the tragedy
of the French revolution. It has been the mainspring of every subversive
movement during the 19th century. And now at last this band of extraordinary
personalities from the underworld of the great cities of Europe and America
have gripped the Russian people by the hair of their head and have become
the undisputed masters of that enormous empire.'
Winston Churchill, stated to the London Press, in 1922
'The government of the Western nations, whether monarchical
or republican, had passed into the invisible hands of a plutocracy, international
in power and grasp. It was, I venture to suggest, this semi-occult power
which....pushed the mass of the American people into the cauldron of
World War I.'
British military historian Major General J.F.C. Fuller,
1941
"For a long time I felt that FDR had developed many
thoughts and ideas that were his own to benefit this country, the United
States. But, he didn't. Most of his thoughts, his political ammunition,
as it were, were carefully manufactured for him in advanced by the Council
on Foreign Relations -- One World Money group. Brilliantly, with great
gusto, like a fine piece of artillery, he exploded that prepared "ammunition" in
the middle of an unsuspecting target, the American people, and thus paid
off and returned his internationalist political support.
"The UN is but a long--range, international banking
apparatus clearly set up for financial and economic profit by a small
group of powerful One--World revolutionaries, hungry for profit and power.
"The depression was the calculated 'shearing' of
the public by the World Money powers, triggered by the planned sudden
shortage of supply of call money in the New York money market....The
One World Government leaders and their ever close bankers have now acquired
full control of the money and credit machinery of the U.S. via the creation
of the privately owned Federal Reserve Bank."
Curtis Dall, FDR's son-in-law as quoted in his book,
My Exploited Father-in-Law
'A definite factor in getting a lie believed is the
size of the lie. The broad mass of the people, in the simplicity of their
hearts, more easily fall victim to a big lie than to a small one.'
Adolf Hitler
'And it seems to me perfectly in the cards that there
will be within the next generation or so a pharmacological method of making
people love their servitude, and producing … a kind of painless
concentration camp for entire societies, so that people will in fact have
their liberties taken away from them but will rather enjoy it, because
they will be distracted from any desire to rebel by propaganda, brainwashing,
or brainwashing enhanced by pharmacological methods.'
Aldous Huxley, 1959
'I know the secret of making the average American believe
anything I want him to. Just let me control television.... You put something
on the television and it becomes reality. If the world outside the TV
set contradicts the images, people start trying to change the world to
make it like the TV set images.....'
Hal Becker, media 'expert' and management consultant,
the Futures Group, in an interview in 1981
"Our job is to give people not what they want, but
what we decide they ought to have."
Richard Salant, former President of CBS News
"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
"There is a small circle of men who control the
world's finance. "Each member, before initiation, knows its religion
to be reward for friends and extermination of enemies. Once a man is
within the magic circle...punishment for disloyalty is sure and terrible,
and in no corner of the Earth can he escape it, nor can any power on
Earth protect him from it.
" The magic circle is "at the receiving end
of the greatest information bureau in the world.""
Thomas Lawson, Everybody's Magazine "Frenzied Finance" 1904
"Those who manipulate this unseen mechanism of society
constitute an invisible government which is the true ruling power of
our country. Our minds are molded, our tastes are formed, our ideas suggested,
largely by men we have never heard of."
Walter Bernays Propaganda 1928
" I think the subject which will be of most importance
politically is mass psychology....Various results will soon be arrived
at: that the influence of home is obstructive....although this
science will be diligently studied, it will be rigidly confined to the
governing class. The populace will not be allowed to know how its
convictions were generated. When the technique has been perfected,
every government that has been in charge of education for a generation
will be able to control its subjects securely without the need of armies
or policemen....Educational propaganda, with government help, could achieve
this result in a generation. There are, however, two powerful forces
opposed to such a policy: one is religion; the other is nationalism....A
scientific world society cannot be stable unless there is a world government."
"If two parties, instead of being a bank and an individual, were an individual and an individual, they could not inflate the circulating medium by a loan transaction, for the simple reason that the lender could not lend what he didn't have, as banks can do....
Only commercial banks and trust companies can lend money that they manufacture by lending it."
~Professor Irving Fisher, economist in his book 100% Money (1935)
“The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it.”
John Kenneth Galbraith , economist, author, Money: Whence it came, where it went - 1975, p15
"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks."
"Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower’s IOU.
"When a government is dependent upon bankers for money,
they and not the leaders of the government
control the situation,
since the hand that gives
is above the hand that takes.
Money has no motherland;
financiers are without patriotism
and without decency;
their sole object is gain."
"I wouldn't go to war again
as I have done to protect some
lousy investment of the bankers.
There are only two things we should fight for.
One is the defense of our homes
and the other is the Bill of Rights.
"There is nothing left now for us but to get ever deeper and deeper into debt to the banking system in order to provide the increasing amounts of money
the nation requires for its expansion and growth.
Our money system is nothing better than a confidence trick...
The "money power" which has been able to overshadow ostensibly responsible government is not the power of the merely ultra-rich but is nothing more or less than a new technique to destroy money by adding and withdrawing figures
in bank ledgers, without the slightest concern for the interests of the community
or the real role money ought to perform therein...
to allow it to become a source of revenue to private issuer's is to create, first, a secret and illicit arm of government and, last, a rival power strong enough to ultimately overthrow all other forms of government.
...An honest money system is the only alternative."
"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it."
"Money does not pay for anything, never has, never will. It is an economic axiom as old as the hills that goods and services can be paid for only with goods and services."