of our Republic is the invisible government which like a giant octopus sprawls its slimy legs over our cities, states and nation. At the head is a small group of banking houses... This little coterie...run our government for their own selfish ends. It operates under cover of a self-created screen...seizes...our executive officers...legislative bodies...schools...
courts...newspapers and every agency created for the public protection.”
N.Y. Mayor, John Hylan
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UNDERSTANDING HOW THE DOLLAR IS DEBASED CURRENCY
The Dollar is Debased Currency… Learn That What You Thought You Knew About Money is All a Bankers’ Façade.
We’ve written extensively throughout our website on how the dollar is debased currency.
We’ve offered up the many reasons for this.
Today, we pass on to you a selection from, “The Legalized Crime of Banking and a Constitutional Remedy”, by Silas Walter Adams.
Prepare to learn some surprising and painful lessons regarding the monetary system and the control it (and its bankers) have on us…
DOLLAR IS DEBASED CURRENCY: WHAT’S MONEY?
"1) The Government does not create nor issue money. Banks create and issue all our money.
"2) Coins and currency are not money-just tokens. Our money is bank credit in the form of bank deposits."
DOLLAR IS DEBASED CURRENCY: BANKER DON’T LEND ANYTHING
"3) Banks do not lend cash, currency-coins or bills. They do not lend their own capital, surplus or profits. Not their depositors' deposits; nor their own credit; nor the nation's credit. Period.
"Bankers do not lend money or anything; they only buy notes (your note), mortgages,
bonds, securities, money, or other investment obligations; and they pay for them with
bank credit in the form of new bank deposits which they create at the time they
make
the purchase.
"In a hearing in Congress, in February, 1943, Cong. Wright Patman asked Marriner S. Eccles., Chairman of the Board of Governors of the Federal Reserve System, ‘. . . the U.S. Bonds ($20,000,000,000) the banks hold today - they created the money to buy those bonds, did they not?’
"And Mr. Eccles replied, ‘The banking system as a whole creates the (bank) deposits as (at the time) they make loans and investments, whether they buy Government bonds, or whether they buy utility bonds, or whether they make farmers' loans.’"
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DOLLAR IS DEBASED CURRENCY: THERE ARE NO DEPOSITS
"4) Strictly speaking the term ‘Bank Deposits’ is erroneous.
"You have ‘Bank Credits,’ and they were created by the banks at the time they bought your note or any other investment obligation. Nothing was deposited, therefore there could not be bank deposits."
DOLLAR IS DEBASED CURRENCY: YOU “BUY” YOUR CASH
"5) You do not have cash, coins and bills, on deposit. You own only the cash in your possession. You bought it from the bank, paying for it with bank credits to your account.
"You do not deposit cash in the bank. You sell the cash back to the bank, and it pays for it with new bank credits.
"Quoting from the booklet, ‘The Federal Reserve System - Its Purposes and Functions,’ published in May, 1939, by the Board of Governors of the Federal Reserve System;
"‘Treasury currency . . . is placed in circulation through Federal Reserve Banks, the Banks giving the Treasury credit in its chequeing account for the amount. The Reserve Banks keep a large stock of cash on hand, principally Federal Reserve notes which are their own (private corporation) liabilities, printed by the Government at the expense of Reserve Banks (30c per $1,000).
"There are two principal ways by which any individual gets bills and coins. Either he draws it out of his bank and has it charged to his account (buys it); or he is paid for his labour, his services, or his goods with money that has been drawn out of a bank (bought) by some one."
DOLLAR IS DEBASED CURRENCY: GOLD STANDARD A HOAX
"6. There is no gold standard. There never was. All of it was a hoax.
"We have no standard, measure of the value of money, the dollar. It is a private corporation dollar with no substance of value behind it. It is just a bank credit transferable by cheque wherewith customers of banks make the great bulk of their monetary payments.
"Its value as with spuds is based on supply ‘on the market.’ Cheap money as with cheap spuds indicates glutted market.
"7. The terms Bank Reserves, Bank Credits, Re-discount, etc., are fictitious ponies bankers stable as ringers. They are figments of bankers' imagination, 'funds' that banks are empowered to create.
"The act of creation is one giving the promises of banks in exchange for your note or some other investment obligation. See page 85 of the Reserve booklet."
DOLLAR IS DEBASED CURRENCY: FEDERAL RESERVE BOOKLET PP. 39-40
"8. Proof that all you know about money and banking is false is found on pages 39- 40 of Reserve booklet:
"‘The aggregate deposits in the banking system as a whole represent mainly funds lent by banks or paid by banks for notes, mortgages, and other forms of investment obligations.
"It may seem that it should be the other way round - that bank loans and investments would be derived from bank deposits instead of bank deposits being derived from loans and investments (well, bankers have told you that they loan their depositors' deposits, haven't they?); and it is true that deposits would not grow out of loans (and investments) if currency were to be used by the public for monetary payments to the exclusion of bank deposits transferable by cheque.
"But as it is, the public in general prefers to have its monetary funds, including what it borrows, on deposit in banks rather than in the form of currency in its own possession.
"The result of this preference is that the proceeds of loans (and investments) go on deposit to be disbursed by cheque, and aggregate deposits are increased. . . . a bank's purchase of investments, i.e., notes, mortgages, bonds, etc., is an extension of credit just as loans do’."
DOLLAR IS DEBASED CURRENCY: FEDERAL RESERVE BOOKLET P. 55
"On page 55: ‘Loans and purchases of securities by the Federal Reserve authorities are one of the important sources of member bank reserves; member bank reserves in turn are the basis of member bank credit; that is, of the loans and investments of member banks.
"And member bank credit is a source of the bank deposits transferable by cheque wherewith business men and other persons make the bulk of their monetary payments’."
DOLLAR IS DEBASED CURRENCY: FEDERAL RESERVE BOOKLET P. 56
"On page 56: ‘The reserves which member banks are required to maintain are only a fraction of their deposits (ranging from 5% to 25%).
"Suppose banks were required to maintain 20% and that they had 20% and no more. Then if their deposits were to be increased by $500,000,000, they would have to have their reserves increased by $100,000,000.
"Accordingly, $100,000,000 of Federal Reserve bank credit obtained by the purchase of securities by the Federal Reserve authorities would increase their reserves sufficiently to enable the banks to expand their own credit by $500,000,000, and this would enable them to make loans and buy securities to the amount of $500,000,000, which would increase the bank deposits $500,000,000’."
DOLLAR IS DEBASED CURRENCY: FEDERAL RESERVE BOOKLET P. 85
"On page 85: ‘Federal Reserve Bank credit, under the law, has a limited and special use-as a source of member bank reserve funds.
"It is itself a form of money.
"It does not consist of funds the Reserve authorities GET somewhere in order to lend, but constitutes funds that they are empowered to CREATE.’
"To create is to bring substance out of a void, out of nothingness."
DOLLAR IS DEBASED CURRENCY: AMERICANS FUNDING THEIR OWN DEMISE
Understand that the fact that the dollar is debased currency (increasingly so every day) is a key to Globalization (New World Order). More education on this is available at Federal Reserve banking history and Money Creation.
Once you understand that the elite cabal funds its Global Community programs (the ones our corrupt officials in the US government follow obediently) through illegal taxation and fraudulent debt creation, you can begin to see that one solution is to go after that funding.
By blindly buying into Federal taxes, a mountain of debt, and lies regarding the history of American currency, Americans are unwittingly funding the elite and their totalitarian plans.
It doesn’t have to be this way. If the people are educated on the fraud, the fraud falls apart.
We suggest you allow Aaron Russo to educate you on the fraudulent tax issue and take advantage of our debt elimination program.
DOLLAR IS DEBASED CURRENCY: OUR SOLUTION TO TYRANNY
We’ve discovered the debt solution by becoming experts on legally eliminating your debt. This process will free you financially while reducing the amount of money available to the banking cabal. We must cut the cabal’s funding and for every dollar of debt you legally eliminate through us, you’re cutting $33 out of their pockets because of their fractional reserve banking scam.
You’ve learned more about how the dollar is debased currency. Now it’s time to join us and take the positive step toward removing the funding the elite cabal is using to enslave us. Talking isn’t enough anymore. Keeping your money out of the banksters’ coffers is real, positive action.
Join our Debt Relief Education Program today. Just fill in your information below to see if you qualify:
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