When Benjamin Franklin was called before the British Parliament in 1757 and asked to account for the prosperity in the American colonies. He replied, "That is simple. In the colonies we issue our own money. It is called Colonial Scrip. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers. In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one."
It was the struggle for financial sovereignty that precipitated the American Revolution when the (Rothschild) Bank of England forced the colonies to give up their Scrip and intense poverty followed.
That war never ended.
Throughout their political lives Thomas Jefferson, James Madison and Andrew Jackson fought off the attempts of European bankers to control the nation's money supply through a privately-owned central bank. When Abraham Lincoln issued 'greenbacks' that deprived private bankers of their monopoly control of the nation's money supply he was assassinated. The international bankers had battled for more than a century to establish a private central bank in the United States with the exclusive right to print their own paper notes and exchange them for government debt. They succeeded in 1913 with The Federal Reserve Act, a coup that authorized a private cartel to create money out of nothing, lend it to the government with interest and control the national money supply, expanding or contracting it at will. Representative Charles Lindbergh called the Act "the worst legislative crime of the ages." Fifty years later, President John F. Kennedy defied the central bankers when he issued debt-free Treasury Notes. He too was assassinated.
The Systemic Usury Parasite
In 1913 our sovereign authority to create interest-free money was unconstitutionally transferred to a transnational private banking cartel that has systemically infected our economy with a staggering national debt in the tens of trillions of dollars. Eighty-five cents of every dollar is now consumed as "interest" by the systemic usury parasite, draining its host of vital resources and collapsing our economy in bankruptcy.
Ours is not the only nation to succumb. Why rob just one bank when you can rob a whole nation? And why rob just one country when you can rob them all?
The usury parasite has infected 170 countries, feeding itself through the central bank syndicate, a shareholder-owned consortium of private banks, headquartered in Switzerland at the Bank for International Settlements. Created in 1930, BIS obscures its transactions with an astounding array of legal immunities that prohibit any form of oversight or intrusion. [i] It functioned as a Nazi money laundering operation in World War II. [ii] Today it serves as the cashier's window for the global casino. [iii] Each central bank member has an exclusive monopoly on its government's monetary system, with the power to create public debt and expand or contract the host's economy at will. Coordinating their monetary policies with each other through the BIS, the central bankers meet behind closed doors, appoint their own governors and set their own rules. Their books are not subject to audit by the governments that host them. The IMF and World Bank are tentacles of this parasite that strangle governments with insurmountable debt, forcing these nations through "structural adjustment" policies to rob their taxpayers, slash social programs, transfer public assets to private owners and sell the nation's treasures to transnational predators at fire sale prices. Government treasuries are the parasite's host. Flushing the global economy of this systemic disease begins with understanding how a central bank debilitates its host government with debt.
Although governments have inherent authority to create their own money, they borrow it from central banks, with interest. A central bank fabricates paper money and credit by "lending" them into existence, in return for treasury bonds of the host government ~ taxpayer IOUs. This "money" has no pre-existing value in reality and is conjured up through accounting entries. It is literally created out of nothing. The central bank first "lends" these accounting entries, with interest, to large investment banks and then to its downline commercial banks. The commercial banks then lend nine times the amount of their "borrowed" accounting entries held "in reserve." This nine-fold multiplication of borrowed accounting entries, described as "fractional reserve banking," creates massive inflation of the money supply which devalues the currency. Borrowers further expand the money supply when they pay back these accounting "credits" with compound interest that multiplies exponentially. More money must be fabricated to pay this interest. Thus, all "money" that enters circulation is actually debt contrived by accounting entries. Every fiat dollar is an IOU from a borrower to a lender. A debt-based monetary system can never achieve equilibrium because compound interest that multiplies exponentially overwhelms the money supply. Escalating interest eventually reaches staggering proportions and causes systemic collapse.
Today the nation is essentially bankrupt and hoping Barack Obama's team of Wall Street advisors will forestall economic collapse. This expectation is equivalent to hoping that Al Capone will make our streets safe. Obama's economic recovery team is a Trojan horse filled with the same Wall Street racketeers that infected the global economy with a quadrillion dollar derivatives bubble, using deliberately deregulated mechanisms.[iv] They have successfully held the nation hostage with a universal credit freeze and threats of systemic collapse if trillions of dollars in ransom demands are not met. But why would our government agree to double its public debt to save crooked financiers and reckless gamblers from bankruptcy? Why would our government re-victimize taxpayers who did not participate in this global fraud and whose investments, retirement savings, pension plans and real estate values have already been eviscerated by these swindlers? The answer is that the Treasury Secretary and Federal Reserve Chairman have historically represented a parasitic crime syndicate, not the host government and its taxpayers.
The racketeers who bribed members of Congress to deregulate Wall Street, could not have held our nation hostage without collusion from the Treasury Secretary and Federal Reserve Board. These "public officials" represent Robber Barons, Inc. ~ the crime syndicate that ransacks government treasuries through the central bank system (IMF/World Bank/BIS),[v] investment banks and private equity firms (JP Morgan Chase, Citigroup, Bank of America, Morgan Stanley, Lehman Brothers, Salomon Smith Barney, Goldman Sachs and Carlyle).[vi]
Treasury Secretary Henry Paulson, a Goldman Sachs CEO, is also a Board Governor at the IMF. Treasury Secretary Lawrence Summers' Harvard team organized the looting of Russia, stripping one trillion dollars from Russia's struggling economy and shifting state-owned assets to private owners. Summers succeeded Robert Rubin as Treasury Secretary and successfully completed Rubin's repeal of Depression-era laws that protected public assets from Wall Street gamblers. A former co-chairman of Goldman Sachs, Rubin joined CEO Sanford Weill at Citigroup to fully embrace the benefits of deregulation. Rubin's Citigroup pooled bogus loans as AAA securities and sold them as collateralized debt obligations. Larry Summers championed the deregulation of financial derivatives, ensuring the globalization of losses from those securities. With $2 trillion in toxic assets, Citigroup fraud has metastasized to 100 countries making it too infectious to quarantine ("too big to fail"). Rubin protégés advised Obama that taxpayers should be held liable for $306 billion of Citigroup's junk loans. [vii] Rockefeller owns Citigroup and JP Morgan Chase, two of the investment banks that own the Federal Reserve. Paul Volcker, the head of Obama's economic advisory team, is the Rockefeller banker whose policies under Reagan ignited the strongest political protests in the history of the Federal Reserve. [viii] Obama's Treasury Secretary, Timothy Geithner,[ix] is an IMF Director, BIS committee Chairman, ex-president of the Federal Reserve and a protégé of David Rockefeller, Henry Kissinger, Robert Rubin and Lawrence Summers.
If it doesn't govern, it isn't a government. What is masquerading as government is a crime syndicate with a flag.