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Bankocracy
Money from nothing
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.
Carroll Quigley - Tragedy and Hope: A History of The World in Our Time
Today global finance drives the world economy.
Walden Bello, Nicola Bullard, Kamal Malhotra - Global Finance: New Thinking on Regulating Speculative Capital Markets
An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.
New Scientist - The capitalist network that runs the world
Money is power. We live in a bankocracy run by the Anglo-American Empire whose backbone consists of City of London, New York City and the European Union. Western governments used taxpayer money to bail out so-called 'too big to fail' banks whose owners committed the largest organized crime ever in the history of human civilization for which they of course should have gone to jail for life, or worse. These western power elite also run a global tax haven network.
Marinus van Reymerswaele - Moneychangers
The modern banking system manufactures money out of nothing; and the process is, perhaps, the most, astounding piece of sleight of hand that was ever invented.
Lawrence Lee Bazley Angas - Slump ahead in bonds
...central banks create money by buying securities, such as government bonds, from banks, with electronic cash that did not exist before. The new money swells the size of bank reserves in the economy by the quantity of assets purchased.
Economist - What is quantitative easing?
Legalized large-scale banking fraud as it exists today probably started with goldsmith bankers in the 16th century. They kept their precious metals in safes which led people to ask the goldsmiths to safe their money in those safes as well. Thus goldsmiths accumulated money in their safes. Eventually goldsmiths invented a system with promissory notes by which they could lend more money than they physically had in their safes. This is how goldsmiths made a fortune with other people's money and without labour. This fraudulent system still exists today in essence. Fractional-reserve banking means that banks can lend more money than they really have in their vaults as reserve. They then ask interest over this non-existing money. Today your fiat money is merely a number on the screen without any intrinsic value. This system is of course a form of usury.
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Proper Gander - Fractional Reserve Banking Explained
The flip-side to this creation of money is that with every new loan comes a new debt. This is the source of our mountain of personal debt: not borrowing from someone else's life savings, but money that was created out of nothing by banks. ... By creating money in this way, banks have increased the amount of money in the economy by an average of 11.5% a year over the last 40 years. This has pushed up the prices of houses and priced out an entire generation.
Positive Money - How Banks Create Money
When money starts as debt, paying the interest in addition to the principal requires more money to be earned as income than has been created. That makes it necessary for the supply of money and the accompanying indebtedness in society to keep growing which has damaging systemic effects for both the environment and society. For example, the economic growth that supports an increasing money supply requires more of the Earth's resources to be turned into commodities. ... Growing indebtedness works in favor of those who lend money into existence and against those who borrow and pay interest.
James Robertson - Money from Nothing
Ben Bernanke
The U.S. government has a technology, called a printing press, that allows it to produce as many U.S. dollars as it wishes at essentially no cost.
Ben Bernanke - Remarks Before the National Economists Club, Washington, D.C. November 21, 2002
At essentially no cost? Ben Bernanke was of course a puppet frontman of the powerful Federal Reserve, a prominent member of the banking cartel that runs the world. The Federal Reserve and its partner banks around the world saw their money supply and power rise dramatically in the last century while the rest now lives in a world of debt. Banks create money from nothing and lend it to borrowers at interest. The creation of fiat money is also the creation of debt. We now live in a world of debt and this debt keeps rising. The money supply boomed. Prizes boomed as well. The purchasing power of the dollar dropped with time. A world of debt simply means that the world is owned by the banks who lend the money to governments of nations whose taxpayers are burdened.
War finance
Thomas Jefferson
Banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
Thomas Jefferson - Letter to John Taylor (Monticello, May 28, 1816)
But with respect to future debts; would it not be wise and just for that nation to declare in the constitution they are forming that neither the legislature, nor the nation itself can validly contract more debt, than they may pay within their own age...? ... This would put the lenders, and the borrowers also, on their guard. By reducing too the faculty of borrowing within its natural limits, it would bridle the spirit of war, to which too free a course has been procured by the inattention of money lenders to this law of nature, that succeeding generations are not responsible for the preceding.
Thomas Jefferson - Letter to James Madison (Paris, Sep. 6, 1789)
Wars are extremely expensive. Without finance there can be no war. War finance involves levy of taxes, raising of debts and the creation of fresh money supply, i.e. inflation. So wars are extremely lucrative for the power elite who are in control of the financial system. They use their military dominance to attack and conquer other parts of the world, take over the resources and wealth, and plunge "their own" taxpayers into more and more debt. A very clever win-win for the power elite.
Dean Cornwell - Serving the Nation (United States war industry propaganda depicting the Pennsylvania Railroad)
We are at war and have already taken the first steps in its financing. If all the many succeeding steps that we shall have to take in the field of finance and elsewhere are as successful as this first step in our financiering, we shall find ourselves in fortunate circumstances. Good financiering cannot win a war, but modern wars cannot be won without good finance.
A. C. Miller - War Finance and the Federal Reserve Banks
The war of 1917-18 was by far the most expensive this country had ever known. Yet the cost of that war, which seemed so tremendous at the time, appears small in comparison with the cost of the present struggle. ... Both war periods are characterized by striking changes in the way banking is carried un. Some of these changes could hardly have come about under normal peacetime conditions... Because of the ability of the banking system to create the credit it provides, banks occupy a residual position with respect to government borrowing. What cannot be obtained from other sources, such as taxation and borrowing from the public, must presumably be furnished by the banks. ... The First World War marked the beginning of a period of exceptional growth and prosperity for commercial banks. ... The basic principles of Treasury policy in the present war may be summarized as follows: ... Whatever funds are needed must be provided, for finance is the servant, not the master, of wartime economic policy, and peacetime conceptions of what is sound financial policy cannot be allowed to interfere with the prosecution of the war.
Charles R. Whittlesey - The Banking System and War Finance
The strength of the US economy after second world war enabled the US dollar, backed by gold, to become the world's reserve currency. When the US abandoned the gold standard in 1971, the dollar remained supreme, and its position was further boosted in 1974 when the US came to an agreement with Saudi Arabia that the oil trade would be denominated in dollars. ... With everyone clamouring for dollars, all the US had to do was print fiat dollars and other countries would accept them in payment for their exports.
Rohini Hensman, Marinella Correggia - US Dollar Hegemony: The Soft Underbelly of Empire
War gives the financial elite the reason for creating a large amount of money from nothing which is then borrowed to governments. That borrowed money must somehow be repayed by taxpayers in the future. This partly explains why wars mean business to the power elite.
Extra...
Murray N. Rothbard - The Mystery of Banking
Gertrude Margaret Coogan - Money Creators: Who Creates Money, Who Should Create It
Ronald MacDonald, Robert Rowen - They Own It All (Including You)!: By Means of Toxic Currency
William D. Cohan - Money and Power: How Goldman Sachs Came to Rule the World
Adam LeBor - Tower of Basel: The Shadowy History of the Secret Bank that Runs the World
Michael Rowbotham - The Grip of Death: A Study of Modern Money, Debt Slavery, ...
Bank of England - Money creation in the modern economy (Quarterly Bulletin 2014 Q1)
Cullen O. Roche - Understanding the Modern Monetary System
Murray N. Rothbard - Taking Money Back
Videos...
Mike Maloney - The Biggest Scam In The History Of Mankind
Michael Oswald - 97% Owned
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