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This is a mirrored article
 

The Banking Elite:
How a Handful of Powerful Men Control Our Lives

by, Tracy Twyman


 

Throughout 1994 the news media completely ignored the recently passed and ratified Interstate Banking Bill, which repealed anti-trust laws and allowed commercial banks to transcend state borders so that a branch in one state could accept moneys deposited in another. The bill will come into effect in October of 1995. It is believed within many financial circles that this will eliminate all small and mid-sized banks, who will not be able to compete without this convenient service. Some estimate that within three years, banking competition will be reduced to three large interstate banks, who are charter members by law of our privately owned central bank, the Federal Reserve System.
A nation’s foremost monetary institution, which acts as the government’s banker, issues the national currency, and comes to the rescue for depositors whose banks have failed. Usually this central bank is owned by the government, but in some countries such as England, France, and Germany, it is a privately owned corporation. Such is the case with the Federal Reserve.

Though all commercial banks own stock in the Fed, the major stockholders include, the Rothschilds of London or Berlin, The Bank of Warburg, Lehman Brothers, Kuhn and Loeb of Germany, The Rockefellers, and other international banking dynasties. Interestingly, these same families own considerable portions of many other central banks throughout Europe. But the U.S. government has never owned any Federal Reserve stock, and it is impossible for any American citizen to.

Lenin is said to have considered the establishment of a central bank 90% of communizing a country. Karl Marx’ Communist Manifesto calls for “the centralization of wealth in the hands of the state by means of a national bank with an exclusive monopoly.” The monetary policies of many of Europe’s central banks have limited their countries’ commercial banking competition to four or less firms.

In early 1901, Jacob Schiff, then the head of the investment firm Kuhn, Loeb & Co. warned the New York Chamber of Commerce that if a central bank were not instituted, financial chaos would soon break loose. Later that year, a major banking panic struck the nation. As Des Griffin stated in his book Descent into Slavery, “The United States plunged into a monetary crisis that had all the earmarks of a skillfully planned Rothschild job. The purpose of the crisis was two-fold: (1) To make a financial ‘killing’ for the insiders, and (2) To impress upon the people the ‘great need’ for a central bank.”

According to researcher James Perloff in The Shadow of Power, Paul Warburg (of the Rothschild-allied German banking firm The House of Warburg), top reps of the Morgan and Rockefeller dynasties, and Senator Nelson Aldrich, head of the National Monetary Commission met secretly in 1910, where they are rumored to have drafted the Aldrich Bill to Congress. This bill was later revised and passed as the Federal Reserve Act of 1913.

The U.S. Constitution states that “Congress shall have the power to coin money, and regulate the value thereof”, and that “Congress shall not delegate or sign over its authority to any individual, corporation, or foreign nation.” Yet that is exactly what they did with the passage of the Federal Reserve Act of 1913. The act created a privately-owned central bank with an exclusive monopoly on the issuance of promissory notes as currency (which were supposedly backed by an equivalent amount of gold reserves.) It gave this corporation complete control over monetary policy, including interest rates, reserve ratio, and the balance of payments (or how much money is printed to meet the demands for printed money.) It was therefore given control of the growth rate of the economy and the inflation rate of the currency. All commercial banks were invited to join the system. Nation-sized banks were required to. The Fed’s Board of Governors grants charters to bank holding companies, oversees mergers, and regulates U.S. offices of international banks. Said Sen. Charles Lindbergh Sr. at the time of the act’s passage, “When the President signs this act, the invisible government by the money power, proven to exist by the Monetary Trust Investigation, will be legalized. The new law will create inflation whenever the trusts want inflation. From now on, depressions will be scientifically created.”

The Bilderburg document “Silent Weapons for Quiet Wars” gives German financier Mayer Amchel Rothschild, founder of five European Rothschild banks and father of an international banking dynasty, credit for a brilliant idea. He found out that by lending out more promissory notes than he had backing for, he could create the illusion of wealth, thereby convincing more people to borrow from him. As his debtors paid up, he acquired more real wealth, at a much larger profit than interest alone would ever bear. He never had to admit that the loans he’d delivered were empty, because he always had someone’s gold stock to give the appearance of wealth.

The Federal Reserve works on a similar principle. They pay the Bureau of Printing and Engraving $.026 for each promissory note made, no matter what the denomination, then obtain a pledge from congress for the face value of the note. They then loan the “money” to congress, their member banks, private businesses, individuals, and foreign governments at face value, plus interest! The tremendous profit that the Fed derives from this scam is completely tax-exempt. This, in effect, is the major reason for our tremendous national debt. The collateral put up to pay for this debt if the money, labor and property of the American people. And because of fractional reserve lending, an exclusive right of only Federal Reserve member banks, they can lend out money when they only have 44.4% of the money they are loaning. Money, therefore, represents almost entirely the debt that these people, governments, institutions, and ultimately American citizens owe to the Federal Reserve. Yet it is mathematically impossible to pay off the national debt because the payments are made in cash, and whenever the Fed receives money, it is removed from circulation, creating the need for more borrowing in order to print more money.

Besides the arguable manipulation of the numerous deities that societies have rumored to exist, money can be considered the most powerful force upon this planet. M.A. Rothschild admitted this when he said “Give me control over a nation’s currency, and I care not who makes its laws.” The President personally appoints the 12 Directors on the Fed’s Board, supposedly giving us some representation in this privately-owned forth branch of government that is immune to checks and balances. But each Director’s term lasts fourteen years, and the terms are staggered so that no two end at the same time, giving an individual president little power over the Board’s make-up. Moreover, although the Board’s decisions supposedly represent what’s best for the nation’s economy, as G. Edward Griff points out in his book The Capitalist Conspiracy, “...every President, since the beginning of the Federal Reserve System, has appointed only those men that were congenial with the interests of the international banking dynasties. There have been no exceptions.”

The Constitution tells us not to “Coin money, emit bills of credit, make anything but gold and silver coin and tender in payment of debt.” There was once a time when we held true to this term. The monetary value of our gold coins was approximately equal to the amount of gold they were made of. Now we have Federal Reserve Notes, 97% of which, sources say, represents debt. Daniel Webster stated in the congressional record in 1946 that “Of all the contrivances for cheating the laboring masses of mankind, none has been more effectual than that which deludes them with paper money.” If Americans would take control of their congress, and congress take back its “power to coin money, and to regulate the power thereof”, we could eventually correct this. But that is not likely to happen. The Federal Reserve is the nation’s largest debtor. Experts predict that by the end of 1996, 100% of our tax dollars will go straight into the pockets of the international bankers as payment on the interest of the national debt. At this point, we will effectively be their slaves. Why? Because the never-properly-ratified 16th Amendment, passed the same year as the Federal Reserve Act, allows congress to use our money labor and property as collateral through the Federal Income Tax to finance their budget. If the banking elite manage to pull off the same scam with the central banks of other nations that they pretty much already control, then the citizens of those countries will also be reduced to slave labor, and the international banking cartel shall rule with an iron scepter.
 
 

END



original report located at
http://www.dagobertsrevenge.com/articles/conspiracies/bankelite.shtml
 
 
 



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