Bill Totten's Weblog

Wednesday, March 18, 2009

Well said

Major LLB Angus:

The modern Banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint and unmint the modern ledger-entry currency.


Thomas Edison:

People who will not turn a shovel full of dirt on the project (Muscle Shoals Dam) nor contribute a pound of material, will collect more money from the United States than will the People who supply all the material and do all the work. This is the terrible thing about interest ... But here is the point: If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional twenty percent. Whereas the currency, the honest sort provided by the Constitution, pays nobody but those who contribute in some useful way. It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People. If the currency issued by the People were no good, then the bonds would be no good either. It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges at the hands of men who control the fictitious value of gold. Interest is the invention of Satan.


President James A Garfield:

Whoever controls the volume of money in any country is absolute master of all industry and commerce.


Ralph M Hawtrey, Former Secretary of the British Treasury:

Banks lend by creating credit. They create the means of payment out of nothing.


Robert H Hemphill, Credit Manager of Federal Reserve Bank, Atlanta, Georgia:

This is a staggering thought. We are completely dependent 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. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. 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 very soon.


President Andrew Jackson, addressing the international banking monopoly when he refused to renew the central bank's charter:

You are a den of vipers and thieves! I intend to rout you out and, by the eternal God, I will rout you out!.


Thomas Jefferson:

I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. The issuing power (of money) should be taken from the banks, and restored to Congress and to the people, to whom it belongs.

lf the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless and the continent their fathers conquered.

To compel a man to furnish funds for the propagation of ideas he disbelieves and abhors is sinful and tyrannical.


Congressman Louis T McFadden:

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 ...The depression was not an accident, it was a carefully contrived occurrence. The International Bankers sought to bring about a condition of despair here so that they might emerge as ruler of us all.


Congressman Charles Lindberg:

The Federal Reserve Act establishes the most gigantic trust on earth. When the President 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 planned and created.


Abraham Lincoln:

The government should create, issue and circulate all the money and currency, needed to satisfy the spending power of the government and the buying power of the consumer. The privilege of creating and issuing money is not only the supreme prerogative of government, but it is the governments greatest opportunity.


Congressman Wright Patman:

In the US today, we have in effect two governments. We have the duly constituted government, then we have an independent, uncontrolled and uncoordinated government in the Federal Reserve, operating the money powers which are reserved to congress by the constitution.


Sir Josiah Stamp, President of the Bank of England in the 1920s, the second richest man in Britain:

Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits.


John Swinton, former Chief of Staff of the New York Times, while giving a toast before the New York Press Club in 1953:

There is no such thing, at this date of the world's history, in America, as an independent press. You know it and I know it. There is not one of you who dares to write you honest opinions, and if you did, you know before hand that it would never appear in print. I am paid weekly for keeping my honest opinion out of the paper I am connected with. Others of you are paid similar salaries for similar things, and any of you who would be so foolish to write honest opinions would be out on the streets looking for another job. If I allowed my honest opinions to appear in one issue of my paper, before twenty-four hours my occupation would be gone. The business of the journalist is to destroy the truth; to lie outright; to pervert; to vilify; to fawn at the feet of mammon, and to sell his country and his race for his daily bread. You know it and I know it and what folly is this toasting an independent press! We are the tools and vassals of rich men behind the scenes. We are the jumping jacks, they pull the strings and we dance. Our talents, our possibilities and our lives are all the property of other men. We are intelligent prostitutes.


President Woodrow Wilson:

A great industrial Nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the Nation and all our activities, are 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 dominate men.


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Bill Totten


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