 |
Add to My Group
4
2
2
View Ratings |
Rate It
How International Bankers Gained Control of America & Why Lincoln Capitulated to that bunch
By Greg Bacon (about the author) Page 3 of 3 page(s)
Meanwhile in Britain a truly incredible editorial in the London Times explained the Bank of England's attitude towards Lincoln's Greenbacks.
"If this mischievous financial policy, which has its origin in North America, shall become indurate down to a fixture, then the Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy every monarchy on the globe."
Keep in mind, by this time the European monarchs were already chained to their private central banks, hence the bankers' concern to preserve their captive monarchs. Within four days of the passage of the law that allowed Greenbacks to be issued, bankers met in convention in Washington to discuss the situation. It was agreed that Greenbacks would surely be their ruin. Something had to be done. They devised a scheme gradually to undermine the value of the Greenbacks.
Seemingly unimportant limitations on the use of Greenbacks (printed on the green back), insisted on by the bankers, forbidding their use to pay import duties and interest on the public debt, were utilized by the banks to slap a surcharge on Greenbacks of up to 185%. This undermined the confidence of the people in Greenbacks and necessitated further concessions to the bankers to obtain more, discounted as the Greenbacks now were.
This scheme was effective - so effective that the next year, 1863, with Federal and Confederate troops beginning to mass for the decisive battle of the Civil War, and the Treasury in need of further Congressional authority at that time to issue more Greenbacks, Lincoln gave in to the pressure, which he described:
"They persist, they have argued me almost blind - I am worse off than St. Paul. He was in a strait between two. I am in a strait between twenty and they are bankers and financiers."
Lincoln allowed the bankers to push through the National Banking Act of 1863 in exchange for their support for the urgently needed additional Greenbacks. This act created "National Banks" (hence the N.A. still in use after National banks' names) and gave them a virtual tax-free status. The new banks also got the exclusive power to create the new form of money - National Bank Notes. Though Greenbacks continued to circulate, their quantity was limited and no more were authorized after the war.
[END QUOTE]
The ones who REALLY pull the strings in politics are the ones who pull the PURSE strings. Sharon, Bush, Blair and their ilk are merely puppets. The REAL tyrants - the Mammonites, the Plutocrats, the gazillionaires – almost always remain nameless!
The views expressed in this article are the sole responsibility of the author
and do not necessarily reflect those of this website or its editors.
 Contact Author |
Contact Editor |
 View Authors' Articles |
by Jonah Goldberg
$34.95
Number of pages: 496
Publisher: Doubleday; 1 edition
by Schonbach
$15.00
Number of pages: 507
Publisher: Dissertations-G
by George Norlin
Number of pages: 108
Publisher: The University of North Carolina Press
by Rebecca Beyer
$5.95
Number of pages: 3
Publisher: National Catholic Reporter
| 5 comments |
Want to post your own comment on this Article? 
|
||||
|
||||||||||||||
Well Said (0) 
News (0) 
Touching (0) 
Funny (0) 
Interesting (0) 
Inspiring (0) Tell a Friend:
|
Copyright © 2002-2009, OpEdNews |
