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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DANGERS OF FIAT MONEY ECONOMICS
Through Fiat Money Economics, International Bankers Have Taken Complete Control of Our Well-Being.
The following is Part 2 of our discussion on fiat money economics.
Part 1 can be found at fiat money definition.
Once again, we are quoting from The Legalized Crime of Banking and a Constitutional Remedy (1958), by Silas Walter Adams…
"… as buying and selling increased, and the difficulty in keeping (from robbers) the gold and/or silver, and the transporting of it from buyer to seller became more and more difficult and hazardous, and even the quantity of it became inadequate, the Government began to engrave paper to be used in addition to coin.
"This paper money, at the beginning, was gold Certificates, bearing the usual clause:
"‘This certifies that there is on deposit in the Treasury of the United States of America Ten Dollars in gold payable to the bearer on demand.’
"With the additional clause: ‘This certificate is legal tender for all debts, both public and private.’
"These statements were necessary because the odour of ‘continental currency’ hung in the mental atmosphere so thickly that the people would not trust even the more stable Government of the United States.
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FIAT MONEY ECONOMICS: SHERMAN’S LETTER
"Congressman John Sherman of Ohio chairman of the Banking Committee, on the passage of the National Bank Note Act, wrote the agents of the Rothschilds in New York:
"‘The Congress has passed your proposed Act, and it will become popular, and the people will accept it readily because it will look so much like Treasury Certificates. Very few citizens will understand the National Bank Notes Act, but those who do will be under such necessity of enjoying the banks' favours that they will say nothing about it, and the masses will bear the burden never knowing what it is all about.’
FIAT MONEY ECONOMICS: FEDERAL RESERVE PUSHED THROUGH
"That assertion is as true today as in the 1870’s when John Sherman wrote the letter.
"But following the panics of 1873, 1893, and 1907, when banks failed and depositors lost billions of ‘money’ deposits, a committee was appointed, at the behest of the bankers, to make a study of banking and money.
"When this committee made its report to Congress, the bankers introduced the Infamous Federal Reserve Act, which became a law with only six Congressmen and Senators voting against it…
"the others voted yes, and many of the leaders had been royally entertained at ‘Hobcaw’, the 17,000 acre ‘Shangrila’, owned by Bernard Baruch, a Doctor's son who went from rags to riches via the New York Stock Exchange.
"The producers and servers laboured long hours' for their dollars. The bankers with the flick of a pen could create billions while the producers were earning hundreds.
"Dollars are like spuds, the more you have of them, the less they will sell for; so every time banks add phoney money to the stream, it cheapens every earned dollar and unearned dollar, too.
FIAT MONEY ECONOMICS: HERE’S AN IDEA – FOLLOW THE CONSTITUTION!!!!
"The only solution is for Congress to obey the Constitution, and take over the creation of money, deposit credits, which are transferable by cheque from buyer to seller; then keep the people's deposit accounts, cash and clear their cheques.
FIAT MONEY ECONOMICS: IT’S BEEN A SHAM SINCE THE BEGINNING
"And keep this in mind, the $1,250 billion bank credits created in the issuing and selling $250 billion U.S. Bonds during World War II, was just as good money as the time deposits on the books, of the banks, and that sum, plus the $250 billion in bonds, gives a total of $1 trillion $500 billion dollars.
"All was a gift from the people of the United States of America; and as an added punishment for dumbness, we are having to pay $10 billion a year in interest.
"I have said that the Federal Reserve Banking System has given us the most fluid money in the world; and that the commercial banks render the people of the United States a very great service:
- in creating money (bank deposits);
- in keeping the depositors' accounts;
- in cashing and clearing their cheques; and
"I have also said that all that they do is unconstitutional. It's their abuse which we must stop."
Part 3 of the dangers of fiat money and the Federal Reserve Banksters can be found at America and its Examples of Fiat Money.
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