The World’s Central Banks and Bankers have struck back quickly against the New Fractional Reserve Wars with BlockCHAIN Digital Currency. First there was the WEB of Debt, and then the NET, and now the CHAIN!
Their Goals are now more than Obvious!
“Why should we trust our money/lives to a group of International Bankers and the Programmers they Hire and Pay for, when all we have to do is let Our U.S. Congress excersise their Constitutional RIGHT and MANDATE and simply create and set the value thereof of our own DEBT- FREE Money?” Wade House – Chairman True Democracy Party
We are about to enter the Greatest Battle, with the most Far Reaching Implications for America and The World that Wade House and The True Democracy Party of America has ever embarked upon. The Total Destruction of the Abomination known as Fractional Reserve Banking in America.
And of course, once the World sees how good we are doing without it, they will want to End their own Central Banking Fractional Reserve Systems also. It’s a Domino Effect we in America should be Proud to usher in.
The Total Collapse of the newest incarnation of Modern Day Slavery known as Debt Slavery.
Of course, Central Bankers and those who Control them, aren’t fools. They knew the day would come when their “System” would be discovered by those with the Power to do something about it, AMERICAN’S!
Once known about, it’s a system that is completely Undefensible and Unjustifiable.
We cannot continue to allow a small group of men to ‘Make Up Money Out Of Thin Air’, which they use to cause wars, control governments, pollute the Earth’s land, sea, and air with impunity. And to create Debt Slaves out of US and our Countries.
And don’t forget that with the Quadrillions of Fake Dollars they are creating every year and hiding from the public, they are causing inflation, and destroying the U.S.Dollar, which they can do whenever they want.
I don’t worry about this because we are Protected as a Last Resort by the U.S. Constitution, which give the express Right and Duty of creating money and setting the value thereof to the U.S. Congress. GOOOO CONGRESS!
If the Central Banks Crush the Current Dollar which is a Federal Reserve Note, the Congress can start issuing U.S. Treasury Notes like they did with the Lincoln Greenbacks and the Kennedy Silver Certificates. Crushing the Dollar will be the Death Knell of Central Bankers! It’s a Bell The True Democracy Party is happy to help Ring!
This isn’t about a cash-less society, we already have that with only 3% of the money being paper or coin in form.
This is about Total Control of our lives and the lives of your families.
A recent example explains it all.
* A man went to a bank machine, not his bank. The bank machine took his bank card and kept it.
The man beat up the bank machine. Oh yea, he was in trouble now. Poor guy.
In essence, he now had no money for gas, food, or anything. He could wait until the next day, take off work and get this sorted out, hopefully, but he misses a day of work.
The bottom line is that once his digital money was cut-off, his life practically comes to a halt. And now Banks want to be able to do this at the touch of a button, with a single Key Stroke on a Computer somewhere. “Delete/Execute”
Don’t agree with them or do something they don’t like…they can easily cut off your life by cutting off your digital Funds. Not to mention the little fact about how easy it is for others to steal digital money.
Luckily for all of us, American’s are already onto their Game! When you read the comments after the following articles, you will see, we aren’t in the lest fooled!
12 Sep 2016 – Blockchain Adoption, Central Bank, Government
Bank of England states central bank-issued digital currency will compete with commercial banks
Bank of England (BoE) Chief Cashier and Director for Notes, Victoria Cleland, recently gave a speech highlighting the Bank’s work on central bank-issued digital currency (CBDC).
Clelands keynote presentation was given at the second international workshop for P2P Financial Systems in London on Sept. 8 and 9. The BoE co-sponsored the event with Bank of Canada, Deutsche Bundesbank, House of Finance, Federal Reserve Bank of St. Louis, and UCL Research Centre, bringing together scholars, regulators, and practitioners.
“We are undertaking more fundamental long-term research on the wide range of questions posed by the potential of a central bank-issued digital currency […] We need to understand the potential economic impact of extending access to central bank money.”
“Shifting deposits away from commercial banks, and towards the central bank, would therefore make for a ‘narrower’ banking system – a ‘narrow’ bank being one whose assets are as liquid as its liabilities. In principle, it would also make for a safer one.”
Central Bank Digital Currencies: A Revolution in Banking?
Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates (we pay the bank to hold our deposits rather than the reverse).
But Ben Broadbent, Deputy Governor of the Bank of England, puts a more positive spin on it. He says Central Bank Digital Currencies could supplant the money now created by private banks through “fractional reserve” lending – and that means 97% of the circulating money supply. Rather than outlawing bank-created money, as money reformers have long urged, fractional reserve banking could be made obsolete simply by attrition, preempted by a better mousetrap. The need for negative interest rates could also be eliminated, by giving the central bank more direct tools for stimulating the economy.
How blockchain works was explained by Martin Hiesboeck in an April 2016 article titled “Blockchain Is the Most Disruptive Invention Since the Internet Itself“:
The blockchain is a simple yet ingenious way of passing information from A to B in a fully automated and safe manner. One party to a transaction initiates the process by creating a block. This block is verified by thousands, perhaps millions of computers distributed around the net. The verified block is added to a chain, which is stored across the net, creating not just a unique record, but a unique record with a unique history. Falsifying a single record would mean falsifying the entire chain in millions of instances. That is virtually impossible.
In a speech at the London School of Economics in March 2016, Bank of England Deputy Governor Ben Broadbent pointed out that a Central Bank Digital Currency (CBDC) would not eliminate physical cash. Only the legislature could do that, and blockchain technology would not be needed to pull it off, since most money is already digital. What is unique and potentially revolutionary about a national blockchain currency is that it would eliminate the need for banks in the payments system. According to a July 2016 article in The Wall Street Journal on the CBDC proposal:
[M]oney would exist electronically outside of bank accounts in digital wallets, much as physical bank notes do. This means households and businesses would be able to bypass banks altogether when making payments to one another.
Not only the payments system but the actual creation of money is orchestrated by private banks today. Nearly 97% of the money supply is created by banks when they make loans, as the Bank of England acknowledged in a bombshell report in 2014. The digital money we transfer by check, credit card or debit card represents simply the IOU or promise to pay of a bank. A CBDC could replace these private bank liabilities with central bank liabilities. CBDCs are the digital equivalent of cash.
Money recorded on a blockchain is stored in the “digital wallet” of the bearer, as safe from confiscation as cash in a physical wallet. It cannot be borrowed, manipulated, or speculated with by third parties any more than physical dollars can be. The money remains under the owner’s sole control until transferred to someone else, and that transfer is anonymous.
Rather than calling a CBDC a “digital currency,” says Broadbent, a better term for the underlying technology might be “decentralised virtual clearinghouse and asset register.” He adds:
But there’s no denying the technology is novel. Prospectively, it offers an entirely new way of exchanging and holding assets, including money.
* Banking in the Cloud
One novel possibility he suggests is that everyone could hold an account at the central bank. That would eliminate the fear of bank runs and “bail-ins,” as well as the need for deposit insurance, since the central bank cannot run out of money. Accounts could be held at the central bank not just by small depositors but by large institutional investors, eliminating the need for the private repo market to provide a safe place to park their funds. It was a run on the repo market, not the conventional banking system, that triggered the banking crisis after the collapse of Lehman Brothers in 2008.
Private banks could be free to carry on as they do now. They would just have substantially fewer deposits, since depositors with the option of banking at the ultra-safe central bank would probably move their money to that institution.
That is the problem Broadbent sees in giving everyone access to the central bank: there could be a massive run on the banks as depositors moved their money out. If so, where would the liquidity come from to back bank loans? He says lending activity could be seriously impaired.
Perhaps, but here is another idea. What if the central bank supplanted not just the depository but the lending functions of private banks? A universal distributed ledger designed as public infrastructure could turn the borrowers’ IOUs into “money” in the same way that banks do now – and do it more cheaply, efficiently and equitably than through banker middlemen.
* Making Fractional Reserve Lending Obsolete
The Bank of England has confirmed that banks do not actually lend their depositors’ money. They do not recycle the money of “savers” but actually create deposits when they make loans. The bank turns the borrower’s IOU into “checkable money” that it then lends back to the borrower at interest. A public, distributed ledger could do this by “smart contract” in the “cloud.”
There would be no need to find “savers” from whom to borrow this money. The borrower would simply be “monetizing” his own promise to repay, just as he does now when he takes out a loan at a private bank. Since he would be drawing from the bottomless well of the central bank, there would be no fear of the bank running out of liquidity in a panic; and there would be no need to borrow overnight to balance the books, with the risk that these short-term loans might not be there the next day.
To reiterate: this is what banks do now. Banks are not intermediaries taking in deposits and lending them out. When a bank issues a loan for a mortgage, it simply writes the sum into the borrower’s account. The borrower writes a check to his seller, which is deposited in the seller’s bank, where it is called a “new” deposit and added to that bank’s “excess reserves.” The issuing bank then borrows this money back from the banking system overnight if necessary to balance its books, returning the funds the next morning. The whole rigmarole is repeated the next night, and the next and the next.
In a public blockchain system, this shell game could be dispensed with. The borrower would be his own banker, turning his own promise to repay into money. “Smart contracts” coded into the blockchain could make these transactions subject to terms and conditions similar to those for loans now. Creditworthiness could be established online, just as it is with online credit applications now. Penalties could be assessed for nonpayment just as they are now. If the borrower did not qualify for a loan from the public credit facility, he could still borrow on the private market, from private banks or venture capitalists or mutual funds. Favoritism and corruption could be eliminated, by eliminating the need for a banker middleman who serves as gatekeeper to the public credit machine. The fees extracted by an army of service providers could also be eliminated, because blockchain has no transaction costs.
In a blog for Bank of England staff titled “Central Bank Digital Currency: The End of Monetary Policy As We Know It?”, Marilyne Tolle suggests that the need to manipulate interest rates might also be eliminated. The central bank would not need this indirect tool for managing inflation because it would have direct control of the money supply.
A CBDC on a distributed ledger could be used for direct economic stimulus in another way: through facilitating payment of a universal national dividend. Rather than sending out millions of dividend checks, blockchain technology could add money to consumer bank accounts with a few keystrokes.
* Hyperinflationary? No.
The objection might be raised that if everyone had access to the central bank’s credit facilities, credit bubbles would result; but that would actually be less likely than under the current system. The central bank would be creating money on its books in response to demand by borrowers, just as private banks do now. But loans for speculation would be harder to come by, since the leveraging of credit through the “rehypothecation” of collateral in the repo market would be largely eliminated. As explained by blockchain software technologist Caitlin Long:
Rehypothecation is conceptually similar to fractional reserve banking because a dollar of base money is responsible for several different dollars of debt issued against that same dollar of base money. In the repo market, collateral (such as U.S Treasury securities) functions as base money. . . .
Through rehypothecation, multiple parties report that they own the same asset at the same time when in reality only one of them does—because, after all, only one such asset exists. One of the most important benefits of blockchains for regulators is gaining a tool to see how much double-counting is happening (specifically, how long “collateral chains” really are).
Blockchain eliminates this shell game by eliminating the settlement time between trades. Blockchain trades occur in “real-time,” meaning collateral can be in only one place at a time.
A Sea Change in Banking
Martin Hiesboeck concludes:
[B]lockchain won’t just kill banks, brokers and credit card companies. It will change every transactional process you know. Simply put, blockchain eliminates the need for clearinghouse entities of any kind. And that means a revolution is coming, a fundamental sea change in the way we do business.
Changes of that magnitude usually take a couple of decades. But the UK did surprise the world with its revolutionary Brexit vote to leave the EU. Perhaps a new breed of economists at the Bank of England will surprise us with a revolutionary new model for banking and credit.
Ellen Brown is an attorney, founder of the Public Banking Institute, and author of twelve books including the best-selling Web of Debt. Her latest book, The Public Bank Solution, explores successful public banking models historically and globally. Her 300+ blog articles are at EllenBrown.com. She can be heard biweekly on “It’s Our Money with Ellen Brown” on PRN.FM.
By Ellen Brown
Global Research, September 17, 2016
Web of Debt 16 September 2016
“central banks, including the Bank of England, the People’s Bank of China, the Federal Reserve” That is not a trustworthy list! And any concepts coming from them need to be looked at with a ton of Salt.
They are not going to supplant/replace their Fractional Reserve System with anything less powerful. This system allows them to control the World, its’ money, it’s peoples and Governments, Who would trusts central bankers?!
This system was “born in sin and created in antiquity”
I for one don’t trust central banks or anyone who does. ANYONE!
And I’m not the only one.
Anyone can scroll down and find a very small list of prominent people who actually know the central bankers and are part of their system, and see what they have to say about them.
And remember; Central Bankers and the Fractional Reserve Banking System are one and the same; “The bank hath benefit of interest on all moneys which it creates out of nothing.” William Paterson, founder of the Bank of England in 1694,
HINT, They don’t say “they are honest and can be trusted!”
Anyway, the point is mute. People aren’t as naive as they were when the ‘Net’ was first being used. Many, with numbers growing daily, don’t trust: Central Bankers, The FED, The NET or the CLOUD.
And those that do, can easily be persuaded otherwise through much of the information available today…online. 🙂
If DEBT = SLAVERY, a Debt-Free Money System versus a DEBT-BASED Money System, won’t be a Hard Sell. – Wade House
That would be the whole idea — to end fractional reserve lending. We could cut out Wall Street — no longer be dependent on them for creating the money supply and needing to prop them up to maintain it. It is now acknowledged that banks don’t lend other people’s money but just turn our own IOUs into money and lend it back to us at interest. Why not do that in an online “distributed ledger,” a sort of hologram in the cloud, which can’t go bankrupt, with smart contracts that don’t involve banker middlemen turning the spigots on and off and collecting huge fees as rentiers?
Blockchain eliminates all the middlemen — including the central bankers, except as technicians designing the program; but somebody has to do it. Better somebody who is at least ostensibly in the service of the public than Wall Street bankers whose mandate is to serve their investors. And the program is open source and stored in millions of computers, so the whole central banker behind the curtain thing would be gone. The system would be transparent and accountable. One of Janet Yellen’s own advisers is recommending that the private ownership of the 12 Federal Reserve banks be eliminated. Change is afoot. http://theweek.com/articles/61…
“Banking in the cloud” could be done with bitcoin or some other crytocurrency, except that you’d still have to change the money into the national currency to have something universally acceptable in the marketplace. Better to just make the cryptocurrency the national currency, created as it is now when someone takes out a loan. We’ll be taking out an advance against our own accounts — just as we are now when we borrow money — but with the “money” being drawn from the bottomless well of a public-utility central bank on a distributed ledger.
There’s not not enough space here to do the concept justice, but here’s a very provocative Ted Talk on blockchain that shows the potential —
How the blockchain is changing money and business | Don Tapscott
A little Zen; “He who controls your money, controls your life.” Who do you want controlling your money?
:The best path is often the simplest and most direct.”
Why should we trust our money/lives to a group of International Bankers and the Programmers they Hire and Pay for, when all we have to do is let Our U.S. Congress do their Constitutional RIGHT and MANDATE and simply create and set the value thereof of our own DEBT- FREE Money?
They could very easily follow the example of Lincoln’s Greenbacks or Kennedy’s Silver Certificates. Easily! It’s already been done and they know how to do it.
And why create IOU’s digital or otherwise when we/U.S. Treasury can print their/our own DEBT-FREE Money. How can you even ask me a question like that? This whole entire matter is about DEBT-FREE Money versus DEBT-BASED Money. One is good the other is bad since DEBT EQUALS SLAVERY! I HATE SLAVERY!!! Debt, economic or otherwise. Maybe it’s just me?
Your other concerns were answered by Aquifer and emlavern. The “Cloud” can’t be trusted with your entire life savings, period. Any computer or computer system can be hacked. Happens all the time, and it’s actually getting easier with today’s computers. They actually “Sell” Hacking/Spying Applications for computers nowadays.
And I personally have had personal business information hacked from a Cloud Storage Facility. It took hours for me and different computer techs to track down and remove the small individual lines of information that’s literally like looking for a needle in a haystack.
So I for one have no illusions about the absolute security of anything online. In fact, just the opposite. And that comes from experience and it’s even easier now. And I put Bitcoin and Blockchain in the exact same category.
On a side note, I tried to watch the video. Even though I don’t need to be lectured by any Rich People, or successful people telling me to do this and I’ll be like them. That presumes I want to be like them, which I don’t. But for your sake, I would give it a try.
I couldn’t get past the first minute. The name did it for me. blockCHAIN. We have The NET and THE WEB and now THE CHAIN. I’m sorry, I just couldn’t do it. 🙂
I could go on…catch us in a Web Of Debt or some kind of Net and then put U.S. in CHAINS… 🙂
Sorry, Ellen, i like a lot of your stuff, but any proposal that makes us even more dependent on digital technology is, IMO, a big mistake … what happens if the cloud “disappears” – who runs “the cloud”, Ellen – remember that this cloud depends on infrastructure …
When I see, as below – i cringe …
“Falsifying a single record would mean falsifying the entire chain in millions of instances. That is virtually impossible.”
Now where have i heard this “your transaction is absolutely safe here” – just before we hear about a major breach – and the advent of quantum computing it seems to me would make it quite possible to “falsify an entire chain in millions of instances”, if it isn’t already possible – a new application for the term “chain reaction”. Virtually impossible, perhaps, but no doubt quite possible in physical reality ….
“Money recorded on a blockchain is stored in the “digital wallet” of the bearer, as safe from confiscation as cash in a physical wallet. …..The money remains under the owner’s sole control until transferred to someone else, and that transfer is anonymous.”
Indeed – cannot be traced – oh really? Perhaps, but then could not be verified either …
Ellen – i think you have your head in the wrong cloud with this one …
Last I heard the existing finance and banking systems can process millions and millions of transactions a minute. Bitcoin – about 7.
There is a long way to go, but in the end you will have large data centers dedicated to maintaining the block chain, just like the banks do now.
So the idea of a free transaction cost is a fallacy. One should keep in mind that ANYTHING dreamed up by finance and banking people is suspect, and mostly a way for these people to find new avenues for skimming money off the worlds financial transactions.
If for no other reason, people should be ashamed of themselves for not considering the BS associated with Bitcoin from the very beginning. The claims of only so many Bitcoins being issued, for one. Is there some legal or mechanical mechanism preventing the bitcoin folks from one say saying “I know we said we wouldnt, but now we are going to double the number of bitcoins, for money supply reasons.”
And how long before people figured out the scam of “bitcoin mining” was just a way to dupe people into providing nearly free accounting services on their own computer hardware?
There are certainly interesting things about the block chain technology, but in the end you will have the same people (or type of people) providing the same data service centers and capabilities, and charging similar fees, all for the same purpose: skimming money off all transactions involving the exchange of money.
AMERICA 2015: 501,000 homes sold for an avg. price of $360,000, for a total of 180 Trillion Dollars. Under the Fractional Reserve System, Banks can LOAN OUT/Create 9X times that amount or $1.62 QUADRILLION DOLLARS.
That’s $1.62 Quadrillion $1,620,000,000,000, out of thin air! Oh we’re not done yet. Add to that;
17.5 Mil. autos sold at an avg. price of $33,000 = $561 Bil. X 9 = 5.49 Tril.
4 Tril. U.S. Gov’t Budget – borrowed from Bank/Fed X 9 = 39 Tril.
That totals $44.49 Trillion added to the $1.62 Quadrillion, which brings the Yearly Total to $2.07 Quadrillion U.S. Dollars added to the Money Supply.
This doesn’t include Bank Loans to Wall Street, U.S. overseas banking Loan totals, or the equivalent of the Russian, European, Chinese, and Middle Eastern Central Banks, all under the Fractional Reserve System, which could jump this insane total to $4-$8 Quadrillion yearly. Let me repeat…YEARLY!
When it comes to Inflation, Hyper-Inflation and the destruction of the U.S. Dollar and other economies, I see a more than clear Culprit, and it’s name is; The Fractional Reserve Banking System.
And we should trust the people(central bankers) who gave us this system to fix it? I think not! That’s pretty insane!
We should “end the money scam known as fractional reserve” in America, and let Congress do their constitutionally mandated job and create and set the value of our own “Debt Free” money.
I also echo Aquifers and emlavern’s concerns. – Wade House
Defending a Debt-Slavery Based System? Good luck with that. When things stay the same for so long, people do wake-up.
The veto of the 2nd Central Bank Of America, penned by George Bancroft on behalf of Andrew Jackson, outlined key points, which draw parallels to Americas present day scenario:
– It concentrated the nation’s financial strength in a single institution.
– It exposed the government to control by foreign interests.
– It served mainly to make the rich richer.
– It exercised too much control over members of Congress.
– Banks are controlled by a few select families.
– Banks have a long history of instigating wars between nations, forcing them to borrow funding to pay for them.
“stability and strength for decades” you do realize that the U.S. Dollar has lost 96% of it’s value since 1913 when the Fed was created to stop such a thing from happening, I.E Inflation? Maybe your statement should read “steadily lost strength for decades” 🙂
No, I didn’t say the dollar was dead and don’t think it is…yet.
But I see that it could easily be killed at the whim of others by simply flooding the market with the money, according to their own rules…that they have.
Unless they are not taking advantage of the fact that they can create 9X’s the amount of money from every loan, out of thin air, backed by nothing but the money already in existence.
This robs the purchasing power of said money already in place and thus lowers it’s value.
Its’ hard to explain, but you should know this already. When you create all this money out of nowhere, it lowers the purchasing power of the money already in existence.
Ellen can explain it better than I can. It’s called inflation, and it is why our dollar is only worth .04 cents on the dollar now.
What I see is all this additional money on the horizon. Bankers think decades in advance. And with these kinds of numbers…well you do the math.
– Wade House
The key words ‘central bankers’…you might as well call it the NWO bank…control…your assets could disappear in a second if you go against the NWO order..No control on buy and sell ..
Digital means you give control over to the bank..which is the Rothschild’s.. no thanks…
I JUST watched the film “Money Monster” last night, starring Julia Roberts and George Clooney. This ain’t nothin’ more than NWO Fool’s Gold for the sheeple. Didgital Currency is just like a man in the beginning of a relationship — so many beautiful promises. This is how people get f*cked (pun intended) Lol. ;)
Digital currencies = imaginary wealth, it doesn’t exist in reality!
Digital debt slavery!
* “The bank hath benefit of interest on all moneys which it creates out of nothing.” William Paterson, founder of the Bank of England in 1694,
* “If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations.” -Andrew Jackson
* “A great industrial nation is controlled by it’s system of credit. Our system of credit is concentrated in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world– no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men.” — President Woodrow Wilson
* “Whoever controls the volume of money in any country is absolute master of all industry and commerce.” — James A. Garfield, President of the United States
* “History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it’s issuance.” — James Madison
[Note – From 1913 until now inflation of the dollar has been 2950%. A 1913 dollar would now be worth $.034. When I became a wage earner in 1950 I could buy a full breakfast, eggs, sausage, hashbrowns, shortstack, juice, and coffee for $.39. This morning I paid $9.60 for the same, an inflation of 2460%]
* “This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson} signs this bill, the invisible government of the monetary power will be legalized….the worst legislative crime of the ages is perpetrated by this banking and currency bill.
From now on, depressions will be scientifically created.” — Congressman Charles A. Lindbergh Sr. , 1913
* “We are completely dependant on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system…. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied.” — Robert H. Hamphill, Atlanta Federal Reserve Bank
* “The Federal Reserve banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the International bankers.” — Congressman Louis T. McFadden (Rep. Pa)
* “I believe that banking institutions are more dangerous to our liberties than standing armies.” Thomas Jefferson
* “The modern theory of the perpetuation of debt has drenched the earth with blood and crushed it’s inhabitants under burdens ever accumulating.” Thomas Jefferson
* “It is no coincidence the the century of total warfare has coincided with the century of central banking.” Ron Paul
* “The bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of a pen, they will create enough deposits to buy it back again.” Sir Josiah Stamp
* “Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal – that there is no human relation between master and slave.” Leo Tolstoy, Russian writer.
SOURCE(S); More Quotes
This is Part 2 of our recently started Operation against the Fractional Reserve Banking System.