Bill Totten's Weblog

Friday, December 25, 2009

The Money Masters (1)

How Private Banks Create Ninety Percent of the World's Money


The Money Masters explains the history behind the current world depression and the bankers' goal of world economic control by a very small coterie of private bankers, above all governments.

The Central bankers' Bank for International Settlements (BIS) in 1988 in the "Basel I" regulations imposed an eight percent capital reserve standard on member central banks. This almost immediately threw Japan into a fifteen year economic depression. In 2004 Basel II imposed "mark to the market" capital valuation standards that required international banks to revalue their reserves according to changing market valuations (such as falling home or stock prices). The US implemented those standards in November 2007. In December 2007 the US stock market collapsed and credit began drying up as banks withheld loans to comply with the eight percent capital requirement as collateral valuations began to drop. The snowball effect of tightening credit, which reduces economic activity and values further, which resulted in further tightening of credit, et cetera, has produced a worldwide depression which is worsening. Do not be fooled. It is not getting better.

Those capital standards have not been relaxed despite the crushing effects on the world economy {*} the credit contraction it requires has caused. Why? Because:

"The purpose of this financial crisis is to take down the US dollar as the stable datum of planetary finance and, in the midst of the resulting confusion, put in its place a Global Monetary Authority [GMA - run directly by international bankers freed of any government control] - a planetary financial control organization".
- Bruce Wiseman

{*} The US did modify these rules somewhat a year after the devastation had taken place here, but the rules are still fully in place in the rest of the world and the results are appalling.

"The powers of financial capitalism had a far-reaching plan, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole ... Their secret is that they have annexed from governments, monarchies, and republics the power to create the world's money ..."
- Professor Carroll Quigley, renowned, late Georgetown macro-historian (mentioned by former President Clinton in his first nomination acceptance speech), author of Tragedy and Hope (1975).

"He [Carroll Quigley] was one of the last great macro-historians who traced the development of civilization ... with an awesome capability".
- Dr Peter F Krogh, Dean of the School of Foreign Service (Georgetown)


The Two Step Plan to National Economic Reform and Recovery

1. Directs the Treasury Department to issue US Notes (like Lincoln's Greenbacks; can also be in electronic deposit format) to pay off the National debt.

2. Increases the reserve ratio private banks are required to maintain from ten percent to 100 percent, thereby terminating their ability to create money, while simultaneously absorbing the funds created to retire the national debt.

These two relatively simple steps, which Congress has the power to enact, would extinguish the national debt, without inflation or deflation, and end the unjust practice of private banks creating money as loans (that is, fractional reserve banking). Paying off the national debt would wipe out the more than $400 billion annual interest payments and thereby balance the budget. This Act would stabilize the economy and end the boom-bust economic cycles caused by fractional reserve banking.

For the full text of the Monetary Reform Act click here: http://www.themoneymasters.com/?page_id=14

_____

Dear Mr Carmack,

As you know, I am entirely sympathetic with the objectives of your Monetary Reform Act ... You deserve a great deal of credit for carrying through so thoroughly on your own conception ... I am impressed by your persistence and attention to detail in your successive revisions.


Best wishes,


Milton Friedman
[Nobel Laureate in Economics; Senior Fellow, Hoover Institution on War, Revolution and Peace]

_____

"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 money, 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 money".
- Sir Josiah Stamp, Director of the Bank of England (appointed 1928). Reputed to be the second wealthiest man in England at that time.

_____

US Representative Ron Paul (Republican, Texas) introduced last month HR 1207, the Federal Reserve Transparency Act of 2009, a bill requiring that an audit of both the Fed's Board of Governors and the Federal Reserve Banks be completed and reported to Congress before the end of 2010. We support Dr Ron Paul and this bill which is gaining momentum in Washington, DC, as more and more representatives add their names to its bipartisan support. We urge you to call your Congressmen to support this HR 1207. Thank you.

Support the Monetary Reform Act - write your Congressman today!

http://www.themoneymasters.com/


Bill Totten http://www.ashisuto.co.jp/english/index.html

2 Comments:

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