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OpEdNews Op Eds    H3'ed 3/15/11

The Ultimate Tragedy, We Have To Borrow, At Interest, From Our Private Central Bank To Pay For Natural Disasters

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Message Kent Welton
  written after Katrina...

  The Banksters & Hurricanes Of Interest-Bearing Debt

    - The Ultimate Tragedy, We Have To Borrow, At Interest, From
    Our Private Central Bank To Pay For Natural Disasters -

      "Money is the most important subject intellectual persons can investigate and reflect upon.  It is so important that our present civilization may collapse unless it is widely understood and its defects remedies very soon"We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit."
                                       Robert H. Hemphill,   
                                       Federal Reserve Bank of Atlanta

         Aside from the loss of life, the most despicable thing about the trauma of recurring natural disasters is that we are forced to borrow from a private central bank, at interest, to pay for all the largely uninsured reconstruction costs.  On its face, profiting from Mother Nature's wrath in the midst of the wipe out of entire cities and families is surely the mother of all unjust enrichments and bankrupting strategies.
         Our private banking cabal known as the "Federal Reserve" should never reap the whirlwind and enrich themselves from on-going natural disaster and war reconstruction funding, period.  For the country and future generations to have to borrow, at interest, for rebuilding due to acts of nature surely defines piracy, plunder and immoral profiteering.  Today, we have laws against merchants charging exorbitant prices for their goods after a disaster but no laws regarding the charging of interest on reconstruction financing.   What's the bigger crime?
          Apparently, Force Majeure does not yet apply to the Federal Reserve -- i.e., in this case, by suspending the normal debt-money-creation game, and allowing for direct treasury funding of such needs.  We lost our ability to create necessary, no-interest, direct-from-the-treasury funding due to yet another bygone corrupt administration and Congress in 1913 - in an act clearly at odds with the intent of the founders of this country.
          Congress?   Its way past time to show us their spine in this matter.
          We do not have to be against interest-rent for money and capital per se to understand that profiting from Mother Nature's wrath in the midst of the wipe out of entire cities and families is not simply wrong but evil.  In an era of global warming, and potentially devastating natural disasters year after year, this piratical banking setup must be changed.  If not, as disaster expenses mount year after year, we will be bankrupted by our own central bank -- a process already underway via a "deficits don't matter" attitude and the deliberate currency-value destruction in process due to idiotic and ruinous "free trade" treaties.

         "The people of the nation do not understand our banking and monetary system for, if they did, I believe there would be a revolution tomorrow morning."                                                                                                                        Henry Ford Sr.

         In addition to interest-bearing deficit financing, the private central bank setup we now labor under means the big-bank Fed owners and their related bond dealers profit from natural disasters via any and all costs and borrowing requirements not covered by private insurance.  However,  even private insurers may be bailed out with more government debt money when unable to meet disaster costs.  Further, the "legal tender" and "full, faith, and credit" policies mean the people remain the lender of last resort and so must pick up the interest-bearing tab of the private central bankers even as our pensions fail and natural disasters strike.   As a result of our lack of monetary freedom and money-creation powers we are thus driven into endless, interest-bearing, indebtedness and eventual bankruptcy by Mother Nature and the Fed acting in tandem.   

       "Compound interest has been described as one of the wonders of the world" But compound interest works in the other direction, too.  When you owe money and don't keep up with the interest payments, the unpaid interest keeps getting added to the principle.  And now it's the amount you own that grows" In no time at all, you're bankrupt."                                                                                                                    Eric Fry, The Rude Awakening

          In short, if not all government funding, all disaster-related funding should certainly be non-interest-bearing and Treasury direct as government and private insurance programs may easily blow thru their reserves and require new debt-money funds.  With the growing potential of mega-disasters occurring year after year insurance funds do not have the time to build up necessary reserves to pay claims.  Its either bankruptcy and failure to pay claims, or to make up the shortfalls, more interest-bearing debt is borrow-created and the costs plus interest increase year after year.
          Given a perilous future of climate-change related events the existing regime is nothing less than a bankruptcy machine and an engine of predation upon the people.  
          Given a corporate media many people still remain unaware of the private central bank scam -- an "independent" (independent of whom?) setup that has stolen the very purse powers bequeathed by our founding fathers. This scheme is leading to the bankruptcy of the United States and decline of the dollar due to interest costs alone.  As for the so-called probity of private central banks, even their friends understand the problem:

        "Central banks were supposedly the guardians of money. Yet, they have created the biggest liquidity bubble in history,"
                                                                                                                      The Economist

          In view of our already precarious financial future, and the immorality of private central bankers profiting from nature's hits, now is the time to put an end to this corrupt setup - i.e., of the private ownership of our central bank.  It is time to reclaim the power to issue our own money and treasury securities -- if for nothing else than natural disasters reconstruction funding, not to mention war and other infrastructure needs.  Interest-bearing or not, the money goes into the economy and finances the same reconstruction processes.  The only difference is it does not carry interest due to private central bankers and their bond-dealing shops.
          Despite this ongoing, ever-so-costly, banking cartel calamity have you ever heard any discussion or debate about a public central bank?  You're not alone, the entire topic is cleansed from our minds, never broached in the educational system, the corporate media, or by "our" representatives - albeit with a few brave exceptions easily rendered invisible in the ruling elite's media empire.  
          Will we ever see or hear any discussion of this in establishment media? Will we see our representatives demand new approaches or a partial, or complete, re-nationalization of the Fed as so deemed by our Constitution?  Will we ever elect our representative to the Federal Reserve,   or see the stock of our central bank distributed to the fifty states?
          In any case, we should realize the entire "globalization" and forced "free trade" regime is, at root, about big banks acquiring control of virtually every economy.  It is about calling any nation a "rogue" that does not allow foreign banks (meaning New York, money center, banks who own the stock of the Fed and other central banks) to gain global hegemony.  It is about fascist control  and not democratic economy.
          As for the USA and attempts to counter this thievery, President's Lincoln and Kennedy once proposed direct, democratic, non-interest bearing, silver-backed, securities & money creation powers to pay for budget and extraordinary items.  They were both assassinated, and many credible historians claim the very forces who have sought to keep control of the money game thru the centuries were responsible.  
           JFK, for example, signed executive order 1130 on June 4, 1963.  While Kennedy's intent remains unclear, apparently this was an attempt to strip the Federal Reserve Bank of its power to loan money to the government, at interest.  Executive Order 11110 reportedly returned to the government the power to issue currency, without going through the Federal Reserve, and bearing interest.  Kennedy's order gave the Treasury the power "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This meant that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation.  
           In short, JFK was on his way to putting the Federal Reserve Bank of New York out of business due to the fact that, if enough of these silver certificates came into circulation, they would eliminate the demand for Federal Reserve notes.  These silver certificates were to be backed by silver. The Federal Reserve notes, on the other hand, are not backed by anything and are created "out of thin air" by Fed-owning banks.
           In retrospect, an Executive Order along the lines of #1110 could have prevented the national debt from reaching its current, generations-screwing, level because it would have given the government the ability to repay its debt without going to the "Federal" Reserve - and being charged interest to create new money, and so giving the U.S. the ability to produce its own money backed by silver.  Has anybody checked on  "our" silver and gold stocks lately?  Is Fort Knox a Potemkin village?   Audits, anyone?
        "The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the United States since the days of Andrew Jackson."
                                                                                                                                            President Franklin Roosevelt

           Clearly, we need a revolution in banking powers.  The stock of the central bank should be held by the fifty states.  Representatives to a central bank panel should come from all fifty states -- not the twelve, super-imposed, Fed regions specifically designed to bypass democracy by the J.P. Morgan forces who were behind the theft of our central bank.  At the very least a new setup  should represent both capital and labor, in equal proportions. (see my site at www.thecenterforbalance.org)
           We might also ask here what would Jesus do?  As the story goes he marched into the temple of the money changers and overturned their "tables."  The message was clear, the usurious bastards needed to be routed from their seat of predatory power" but then he was hung from a cross.   Jesus, Lincoln, Kennedy" when does it end?
           With only twelve disciples Jesus didn't have a chance but, today, we have millions and soon billions of people angry about forced, uncompensated, costly, trade policy and the money power thieves.  Today, the ruling elite's days may well be numbered due largely to the power of the internet to muster alternative social forces and re-educate a bewildered and mis-informed public -- assuming, of course, legitimate, verifiable, paper-trail voting machines will work to stop the historical "fail-safe" ballot-stealing mechanism used by plutocrats and dictators to retain their power.
           So where are the Christians in Washington D.C. today? The hypocritical, corporate-money-sucking, thieves we call "representatives" today are mostly clueless, if not complicit,  altogether silent, and lacking any balls on this issue.    Aside from Rep. Ron Paul, which "Christian" legislator is going to lead the charge on the money-changer tables?  Or, did we all suddenly become K-street Phillistines and Goldman-Sachs wannabees?
           In any event the central bank and globalization "whether you like it or not" issues are really about a choice between top-down fascism and economic democracy.  We're either flattened by Fascism (i.e., corporate-controlled government) or energized and re-empowered by bottom-up effective democracy.  However, we still have no National Initiative process (like the Swiss) to overrule our representatives and keep them from selling us out to corporate interests and so undermining effective democracy.   
           In any case the ruling-class appointed economists who populate our "independent" institutions are deathly afraid of this subject and, being afraid for their jobs and status, will likely go to any lengths to poo-poo the idea.  They will lapse into talk about the "rabble" despite the fact the founders had good reason for placing the money power in the hands of the most populous legislative body -- having experienced the predation of the "Bank of England" in their day and time.   To top off the ruling-elite stranglehold, the Nobel Prize in economics is chosen by a panel of Swedish bankers, lest any scholar interested in the welfare of the vast, wage-laboring, majority gain any acclaim or influence on economic policy.
         In short, the private central bank scheme is the very corner stone of oligarchy.  As the late, great, libertarian economist Murray Rothbard noted in his last book, The Case Against The Fed, " if government becomes 'independent of politics' it can only mean that that sphere of government becomes an absolute self-perpetuating oligarchy."  Indeed, the "independent" scam is designed to ensure oligarchy and remove democratic powers.  This independence from the people and democracy has given us the greatest inflation, interest-bearing debt, and economic slavery in our history.   
        For those who seek to further educate themselves about the "money question" you are invited to visit my website -- www.PublicCentralBank.com.  There you will find seminal books, great links, and more information on the subject -- clearly, the most central socio-economic issue of our time and of any modern society.
        In sum, the real disaster is the debt-money creation power remaining "independent" of the people, and "our" central bank reaping profit from Nature's wrath and our woe.

Kent Welton,
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Kent Welton Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Author, Exec. Dir. The Center For Balance.org - Websites: PanditPress.com, OligarchyUSA.com, PublicCentralBank.com, EditorFreedom.com, FascismUSA.com & more
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