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Posts Tagged ‘private central bank’

“The World’s Most Listened to Late Night Talk Show”, Coast to Coast AM, with its estimated 3 million weekly listeners, has recently presented the case for sovereign, debt-free currency, over the gold standard.

On May 23, 2010, Joseph P. Farrell, author of Babylon’s Banksters, presented his case. From the show description:

One is a closed system, based on scarce resources, energy or money. The other is an open system, in which energy is in abundant supply, “and where money in turn reflects this by being a creation of the state, and therefore a debt-free instrument of exchange,” he detailed.

Any bank including the Federal Reserve can never issue interest, they can only lend money into circulation, so that there’s never enough money to pay the interest on the principle, he continued. A state, however, can issue debt-free money yet past US Presidents such as Lincoln, Garfield, and Kennedy all ended up assassinated after they tried to change the banking system, Farrell pointed out.

Then, on June 28, investigative journalist Jim Marrs, author of Rule by Secrecy and The Rise of the Fourth Reich, presented his case. From the show description:

He referred to the US as a “zombie nation” because citizens and the country itself are trillions of dollars in debt. JFK ended up dead not longer after he issued $4.2 billion in currency that was printed by the Treasury instead of the Federal Reserve, which in reality is a group of 12 banks that charge interest, he noted.

Read how the illegal Federal Reserve lies about United States Notes (Lincoln Greenbacks), and about private central bank misinformation.

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Starting in the second segment of today’s show on the Genesis Communications Network, I covered my articles, “Private central bank misinformation,” “The real 1933 gold confiscation myths and misunderstandings,” and “E*TRADE requires your passport, alien, or government ID number to activate a new account,” as guest host of “Crash! Are You Ready?” with George Whitehurst-Berry.

Previously, I exposed the AIDS scam and faux capitalism as guest host from March 10-12.

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Thomas DiLorenzo, professor of economics at Loyola University, associate at the Ludwig von Mises Institute, and frequent writer for LewRockwell.com, makes an incredibly misinformed statement about the Bank of England and Lincoln’s issuance of money to fund the Civil War, in a May 17, 2010 Daily Bell interview.

He states (emphasis mine):

Lincoln was almost exclusively devoted to Hamiltonian mercantilism – high protectionist tariffs, other forms of corporate welfare, a central bank modeled after the Bank of England to pay for it all, and political patronage and matching politics.

From the Bank of England’s own website, its founding document, the Bank of England Act 1694, states:

19 Their Majesties may appoint Rules for transferring: and may make the Subscribers a corporation, subject to Redemption

The Bank of England, from its inception, was a private central bank, that issued money at interest.

Lincoln, however, issued interest-free money through the public U.S. treasury, as documented in Sarah Emery’s 1887 book, “Seven Financial Conspiracies Which Have Enslaved the American People.”

In the first chapter, she writes (emphasis mine):

Following this declaration came the enactments of July 17, 1861, and February 12, 1862, authorizing the issue of $60,000,000 treasury notes, not bearing interest and payable for all debts, public and private.

Therefore, in no way did Lincoln create any central bank, let alone a private one like the Bank of England, as DiLorenzo asserts. The money was issued interest-free through the public U.S. treasury, as appropriated by Congressional legislation signed by Lincoln.

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Among the most famous of quotations attributed to Thomas Jefferson, is this one:

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.

But did Thomas Jefferson really say that? That’s what I had thought, especially after hearing it repeated by so many people on so many different programs and web sites. Then, one day, I decided to verify it for myself, and was surprised by what I found.

Bartleby, famous for its books of quotations, states:

Although Jefferson was opposed to paper money, this quotation is obviously spurious. Inflation was listed in Webster’s dictionary of 1864, according to the Oxford English Dictionary, but the OED gives 1920 as the earliest use of deflation.

Another authoritative dictionary, Merriam-Webster, reports the first use of the word deflation, in any context, dating back to 1890 — 64 years after the death of Thomas Jefferson.

As Bartleby hints at, one shouldn’t throw the baby out with the bath water. Even if Jefferson didn’t say that, in whole or in part, it’s consistent with his beliefs and actions.

The full significance of this quotation will be addressed in several subsequent articles.

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