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1803 Now President Thomas Jefferson, President Jefferson struck a deal with Napoleon in France. The United States would give Napoleon $3,000,000 of gold in exchange for a huge chunk of territory west of the Mississippi River. This was called the Louisiana purchase.
Napoleon used this gold to put together an army. He then used this army to set off across Europe where he began to conquer everything in his path. The Bank of England quickly rose to oppose Napoleon and financed every nation in his path, as usual profiteering from war. Prussia, Austria, and then finally Russia all went heavily into debt in a futile attempt to stop Napoleon.
1807 30 year old Nathan Rothschild, head of the English branch of the family in London, personally takes charge of a plan to smuggle a much needed shipment of gold through France to Spain to finance an attack by the Duke Of Wellington on Napoleon, from there.
1811 A bill was put before Congress to renew the charter of the First Bank of the United States. The legislatures of both Pennsylvania and Virginia pass resolutions asking Congress to kill the bank. The national press openly attack the bank calling it: a great swindle; a vulture; a viper; and a cobra.
Nathan Rothschild gets in on the act and makes the following revealing statement as to who was really behind the First Bank of the United States,
“Either the application for renewal of the charter is granted, or the United States will find itself involved in a most disastrous war.”
When the smoke had cleared the renewal bill was cleared by a single vote in the house and was deadlocked in the Senate. At this point America's fourth President, President James Madison was in the White House. He was a staunch opponent of the bank and he sent his Vice-President, George Clinton, to break a tie in the Senate which killed the bank.
1812 As promised by Nathan Rothschild, because the charter for the First Bank of the United States is not renewed, thousands have to die and the British attack America. However, as the British are still busy fighting Napoleon, they are unable to mount much of an assault and the war ends in 1814 with America undefeated.
1814 Wellington's attacks from the South and other defeats eventually forced Napoleon to abdicate and Louis XVIII is crowned King. Napoleon is exiled to the tiny island of Elba, off the coast of Italy.
1815 Napoleon escapes his exile and returns to Paris. French troops were sent to capture him, but he uses his charisma to convince these soldiers to rally round him, and they subsequently hail him as their emperor once again. In March, Napoleon assembles an army which England's Duke of Wellington defeated less than 90 days later at Waterloo.
Even though the outcome is predetermined, these bankers don't like to take any sort of risk, they're too used to a monopoly. Therefore Nathan Rothschild sent a trusted courier named Rothworth to Waterloo where he stayed on the edge of the battlefield. Once the battle was decided, Rothworth took off for the Channel, and delivered the news of Wellington's victory to Nathan Rothschild a full 24 hours before Wellington's own courier.
Nathan Rothschild hurried to the London Stock market and stood in his usual position. All eyes were on him as Rothschild had a legendary communications network. Rothschild stood there looking forlorn and suddenly started selling. The other traders believed that this meant he had heard that Napoleon had won so they all started selling frantically.
The market subsequently plummeted, soon everyone was selling their consuls (British Government Bonds), but then Rothschild secretly started buying them all up through his agents on the floor, for a fraction of what they were worth only hours before. A lot of these consuls were able to be converted to Bank of England stock, which is how Rothschild took over the control of the Bank of England and therefore the British money supply.
Interestingly, 100 years later, the New York Times ran a story stating that Nathan Rothschild's grandson had attempted to secure a court order to suppress a book with this, what we would call today, "insider trading," story in it. The Rothschild family claimed the story was untrue and libelous, but the court denied the Rothschilds request and ordered the family to pay all court costs.
Nathan Rothschild openly brags that in his 17 years in England he had increased his initial £20,000 stake given to him by his father, 2500 times to £50,000,000.
Some people ask, why do bankers want war? Simple, bankers finance both sides in a war. They do this because war is the biggest debt generator of them all. A nation will borrow any amount for victory, even though the banks have already predetermined the outcome. The ultimate loser is loaned just enough money to hold out a vain hope of victory and the ultimate winner is given enough to ensure that he does win.
How do the banks ensure they will get all their money back? Easy, such loans are given on the guarantee that the victor will honor the debts of the vanquished. Never mind the thousands of troops that give their lives on the pretext it is for the honor of their respective nations, when it is actually for the profits of bankers.
In fact, during the period between the founding of the Bank of England in 1694 and Napoleon's defeat at Waterloo this year, England had been at war for 56 years, with much of the remaining time spent preparing for war. If it's a good business for bankers' profits, then why change it.
1816 The American Congress passes a bill permitting yet another privately owned central bank. This bank was called the, "Second Bank of the United States," and it's charter was a carbon copy of that of its predecessor, the First Bank of the United States. The United States government would once again supposedly own 20% of the shares of the bank.
Their share was again paid up front into the bank and thanks to fraudulent fractional reserve lending, this was transformed into loans to the private investors who once again purchased the remaining 80% of the shares. Just as before the names of these investors was kept a secret.
1826 The talley stick is taken out of circulation in England.
1828 After 12 years during which the Second Bank of the United States, ruthlessly manipulated the American economy to the detriment of the people but to the benefit of their own money grabbing ends, the American people had unsurprisingly had enough. Opponents of this bank nominated Senator Andrew Jackson of Tennessee to run for President.
To the dismay of the money changers, Jackson won the Presidency and made it quite clear he intended to kill this bank at his first opportunity. He started out during his first term in office, to root out the banks many minions from government service. To illustrate how deep this cancer was rooted in government, he fired 2,000 of the 11,000 employees of the Federal Government.
The Second Bank of the United States, ask Congress to pass a renewal of the bank's charter, four years early. Congress complied and sent the bill to President Jackson for signing. President Jackson vetoed this bill and in his veto message he stated the following,
"It is not our own citizens only who are to receive the bounty of our Government. More than eight millions of the stock of the Bank are held by foreigners...Is there no danger to out liberty and independence in a bank that in its nature has so little to bind it to our country?
Controlling our currency, receiving our public moneys, and holding thousands of our citizens in dependence ...would be more formidable and dangerous than a military power of the enemy. If government would confine itself to equal protection, and, as Heaven does its rains, shower the favor alike on the high and the low, the rich and the poor, it would be an unqualified blessing.
In the act before me there seems to be wide and unnecessary departure from these just principles."
In July, Congress was unable to override President Jackson's veto. President Jackson then stood for re-election and for the first time in American history he took his argument directly to the people by taking his re-election campaign on the road. His campaign slogan was, "Jackson And No Bank!"
Even though the bankers poured over $3,000,000 into President Jackson's opponent, the Republican, Senator Henry Clays' campaign, President Jackson was re-elected by a landslide in November. President Jackson knew the battle was only beginning however, and following his victory he stated,
"The hydra of corruption is only scotched, not dead!"
1833 President Jackson appoints Roger B. Taney as Secretary of State for the Treasury, with instructions to start removing the government's deposits from the Second Bank of the United States. President Jackson's previous two Secretaries of State for the Treasury, William J. Duane and Louis McLane had both refused to comply with President Jackson's request and were fired as a result.
However the head of the, Second Bank of the United States, Nicholas Biddle, used his influence to get the Senate to reject Roger B. Taney's nomination and even threatened to cause a depression if the Bank was not re-chartered. Biddle stated,
"This worthy President thinks that because he has scalped Indians and imprisoned judges, he is to have his way with the Bank. He is mistaken."
Biddle then went on to brazenly admit that the bank was intending to make money scarce in order to force the hand of Congress into re-chartering the bank. He stated,
"Nothing but widespread suffering will produce any effect on Congress...Our only safety is pursuing a steady course of firm restriction - and I have no doubt that such a course will ultimately lead to restoration of the currency and re-charter of the Bank."
What Biddle has done with that statement is prove to the world what central banks were really about. He made good on his word, and the Second Bank of the United States, sharply contracted the money supply by calling in old loans and refusing to issue new ones. Naturally a financial panic ensued, followed by America being plunged into a deep depression.
Biddle then unashamedly blamed President Jackson for the crash, claiming that it was Jackson's withdrawal of federal funds that had caused it. This crash plunged wages and prices, unemployment soared along with business bankruptcies. The United States was in uproar and newspaper editors blasted the President in editorials.
Congress assembled what was called the, "Panic Session," and on 27 March President Jackson was officially censured by Congress for withdrawing funds from the Second Bank of the United States, in a vote which passed the Senate by 26 to 20. It was the first time a President had ever been censured by Congress and Jackson stated of the Bank,
"You are a den of thieves vipers, and I intend to rout you out, and by the Eternal God, I will rout you out."
However, Pennsylvania Governor, George Wolf, came out in support of President Jackson and strongly criticized the Bank. This, coupled with the fact that Nicholas Biddle had been caught boasting in public about the bank's plan to crash the American economy, caused a shift in opinion of President Jackson's action.
In a complete about turn on April 4, the House of Representatives voted 134 to 82 against re-chartering the bank. This was followed by another strong vote which established a special committee to investigate whether the Bank had caused the crash.
However, when the investigating committee arrived at the bank's door in Philadelphia with a subpoena authorizing them to inspect the books, Nicholas Biddle refused to give them up, or allow inspection of correspondence with Congressmen relating to their personal loans and advancements he had made to them. He also refused to testify before the committee back in Washington.
1836 The Charter for the Second Bank of the United States expires, and the Bank ceases functioning as America's central bank. Nicholas Biddle was later arrested and charged with fraud. He was tried and acquitted but died in 1844 still battling civil suits.
1838 On January 8th President Jackson pays off the final installment of the national debt, which had been necessitated by allowing the banks to issue currency for government bonds, rather than simply issuing treasury notes without such debt. He was the only President to ever pay off the debt.
On January 30th an assassin called Richard Lawrence tried to shoot President Jackson, but both pistols misfired. Lawrence was later found not guilty by reason of insanity. However, after his release he openly bragged that powerful people in Europe had put him up to the task and promised to protect him if he were caught.
When asked what his most important accomplishment had been in life, President Jackson stated without hesitation,
"I killed the Bank!"
It would take the money changers 75 years to establish the next central bank, the Federal Reserve. This time they would take no chances and use one of their own, Jacob Schiff, from the Rothschild bloodline, to undertake this.
1850 Jacob (James) Rothschild in France is said to be worth 600 million francs, which at the time was 150 million francs more than all the other bankers in France put together.
Future British Prime Minister, William Gladstone, stated the following about when he became Chancellor of the Exchequer this year,
"From the time I took office as Chancellor of the Exchequer, I began to learn that the State held, in the face of the Bank and the City, an essentially false position as to finance. The Government itself was not to be a substantive power, but was to leave the Money Power supreme and unquestioned."
One month after the inauguration of President Abraham Lincoln, the American Civil War got underway at Fort Sumter, South Carolina, after South Carolina left the Union. Slavery has always been cited as the cause of the war but this was simply not the case, as President Lincoln himself stated,
"I have no purpose directly or indirectly to interfere with the institution of slavery in the state where it now exists. I believe I have no lawful right to do so, and I have no inclination to do so...My paramount objective is to save the Union and it is not either to save or destroy slavery. If I could save the Union without freeing any slave, I would do it."
The real reason for the war is that the Southern States were in an a dire economic situation due to the actions of the Northern States. Northern industrialists had used trade tariffs to prevent the Southern States from buying cheaper European goods. Europe subsequently retaliated by stopping cotton imports from the South. Thus the South were being forced to pay more for goods whilst having their income slashed.
This is when the money changers saw the opportunity to divide and conquer America by plunging it into Civil War. This is confirmed by Otto Von Bismarck when he was Chancellor of Germany (1871 - 1890), who stated,
"The division of the United States into federations of equal force was decided long before the Civil War by the high financial powers of Europe, these bankers were afraid that the United States if they remained as one block and as one nation, would attain economic and financial independence which would upset their financial domination over the world."
Only months after these first shots in South Carolina, the Central bankers loaned, Napoleon III of France (the Napoleon of the battle of Waterloo's nephew), 210 million francs to seize Mexico and then station troops along the Southern border of the United States, by taking advantage of the American Civil War to return Mexico to colonial rule.
This was in violation of the, "Monroe Doctrine," which was issued by President James Monroe during his seventh annual State of the Union address to Congress, in 1823. This doctrine proclaimed the United States' opinion that European powers should no longer colonize the Americas or interfere with the affairs of sovereign nations located in the Americas, such as the United States, Mexico, and others.
In return, the United States planned to stay neutral in wars between European powers and in wars between a European power and its colonies. However, if these latter type of wars were to occur in the Americas, the U.S. would view such action as hostile toward itself.
Whilst the French were breaching the, Monroe Doctrine in Mexico, the British followed suit by moving 11,000 troops into Canada and positioning them along America's Northern border. President Lincoln knew he was in trouble, so he went with his Secretary To The Treasury, Salomon P. Chase, to New York to apply for the loans necessary to fund America's defense.
The money changers had engineered the war to make the Union fail, and were not about to save it now, so they offered loans at 24% to 36% interest. President Lincoln declined this as they knew he would and returned to Washington, where he sent for Colonel Dick Taylor of Chicago, who he put in charge of the problem of how he should finance the war.
During one meeting President Lincoln asked Colonel Taylor what proposals he had come up with to finance the war. Colonel Taylor stated,
"Why Lincoln, that is easy, just get Congress to pass a bill authorizing the printing of full legal tender treasury notes...and pay your soldiers with them and go ahead and win your war with them also."
President Lincoln asked Colonel Taylor if the people of the United States would accept the notes, Colonel Taylor said,
"The people or anyone else will not have any choice in the matter, if you make them full legal tender. They will have the full sanction of the government and be just as good as any money, as Congress is given that express right by the Constitution."
President Lincoln began the printing of $450,000,000 worth of new bills. These bills were printed in green ink on the reverse side, in order to distinguish them from other bills in circulation, and were called, "Greenbacks." These were printed at no interest to the Federal Government and were used to pay the troops and purchase their supplies. President Lincoln would be the last President to issue debt free United States notes, and on this subject he stated,
"The Government should create, issue and circulate all the currency and credit needed to satisfy the spending power of the Government and the buying power of consumers. The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is in the Government's greatest creative opportunity. By the adoption of these principles...the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity."
In response to this statement, The Times of London publishes a propaganda piece obviously put out by the bankers, containing the following statement,
"If that mischievous financial policy, which had its origin in the North American Republic, should become indurated down to a fixture, then that government will furnish its own money without cost. It will pay off debts and be without a debt. It will have all the money necessary to carry on its commerce.
It will become prosperous beyond precedent in the history of civilized governments of the world. The brains and the wealth of all countries will go to North America. That government must be destroyed or it will destroy every monarchy on the globe."
1863 The bankers struck back. With President Lincoln needing further congressional authority to issue more Greenbacks, Lincoln was forced into allowing the bankers to push their, "National Banking Act," through Congress.
The most important part of this Act was that from now on, the entire United States money supply would be created out of debt by the National Banks buying United States Government Bonds and issuing them for reserves for banknotes. On top of this monopoly, the National Banks were allowed to operate under a virtual tax free status. This banking scam is best explained by historian, John Kenneth Galbraith, who stated,
"In numerous years following the war, the Federal Government ran a heavy surplus. It could not however pay off its debt, retire its securities, because to do so meant there would be no bonds to back the national bank notes. To pay off the debt was to destroy the money supply."
Later this year, Tsar Alexander II gave President Lincoln some unexpected help. The Tsar issued orders that if either England or France actively intervened in the American Civil War, and help the South, Russia would consider such action a declaration of war. To show that he wasn't messing about, he sent part of his Pacific Fleet to port in San Francisco.
This wasn't because the Tsar was benevolent towards America, instead he was very clever. He, like Otto Von Bismarck in Germany, could clearly see what the money changers were up to, indeed he had already refused to let them set up a Central Bank in Russia. He understood if America was to come under the control of Britain or France, then America would be under the control of Central Bankers once again, and such an expansion of the bankers empire, would mean they would eventually threaten Russia.
President Lincoln is re-elected on November 8th and on November 21 he wrote a friend the following,
"The money power preys upon the nations in times of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy."
Salomon P Chase, now President Lincoln's Former Secretary To The Treasury, stated,
"My agency in promoting the passage of the National Banking Act was the greatest financial mistake in my life. It has built up a monopoly which affects every interest in the country."
1865 On April 14th, 41 days after his second inauguration, and just 5 days after General Lee surrendered to General Grant at Appomattox, President Lincoln is shot by John Wilkes Booth, at Ford's Theater. He would later die of his injuries. Subsequent allegations that international bankers were responsible for President Lincoln's assassination, would be made in the Canadian House of Commons, nearly 70 years later in 1934.
The person who revealed this was a Canadian Attorney, Gerald G. McGeer. He had obtained evidence deleted from the public record provided to him by Secret Service Agents at the trial of John Wilkes Booth, after Booth's death. McGeer stated that it showed that John Wilkes Booth was a mercenary working for the international bankers. His speech would be reported in an article in the Vancouver Sun, dated, 2nd May 1934, which stated,
"Abraham Lincoln, the murdered emancipator of the slaves, was assassinated through the machinations of a group representative of the International Bankers, who feared the United States President's National Credit ambitions. There was only one group in the world at that time who had any reason to desire the death of Lincoln. They were the men opposed to his national currency program and who had fought him throughout the whole Civil War on his policy of Greenback currency."
Gerald G. McGeer also stated that Lincoln's assassination was not purely because the International Bankers wanted to re-establish a central bank in America, but also because they wanted to base America's currency on gold, which they of course controlled. They wanted to put America on a Gold Standard. This was in direct opposition to President Lincoln's policy of issuing Greenbacks, based solely on the good faith and credit of the United States.
The Vancouver Sun article also quoted Gerald G. McGeer with the following statement,
"They were the men interested in the establishment of the Gold Standard and the right of the bankers to manage the currency and credit of every nation in the world. With Lincoln out of the way they were able to proceed with that plan and did proceed with it in the United States. Within 8 years after Lincoln's assassination, silver was demonetized and the Gold Standard system set up in the United States."
1866 The European central bankers wanted the re-institution of a central bank under their control and an American currency backed by gold. They chose gold as gold has always been relatively scarce and therefore a lot easier to monopolize, than, for example, silver, which was plentiful in the United States, and had been found in huge quantities with the opening of the American West.
So, on April 12th, Congress went back to work at the bidding of the European central bankers. It passed the, "Contraction Act," which authorized the Secretary of the Treasury to contract the money supply by retiring some of the Greenbacks in circulation.
This money contraction and it's disastrous results is explained by Theodore R. Thoren and Richard F. Walker, in their book, "The Truth In Money Book," in which they state the following,
"The hard times which occurred after the Civil War could have been avoided if the Greenback legislation had continued as President Lincoln had intended. Instead there were a series of money panics, what we call recessions, which put pressure on Congress to enact legislation to place the banking system under centralized control. Eventually the Federal Reserve Act was passed on December 23rd 1913."
This is how the, "Contraction Act," passed by Congress affected America (the money supply goes down purely because currency in circulation is being withdrawn):
Year In circulation Approximately per capita
1866 $1,800,000,000 $50.46
1867 $1,300,000,000 $44.00
1876 $600,000,000 $14.60
1886 $400,000,000 $6.67
Therefore in the twenty years since 1866 two thirds of the American money supply had been called in by the bankers, representing a 760% loss in buying power over this twenty years. The money became scarce simply because bank loans were called in and no new ones were given.
1872 Ernest Seyd is sent to America on a mission from the Rothschild owned Bank of England. He is given $100,000 which he is to use to bribe as many Congressmen as necessary, for the purposes of getting silver demonetized, as it had been found in huge quantities in the American West, which would eat into Rothschild's profits.
1873 Ernest Seyd obviously spent his money wisely, as Congress pass the, "Coinage Act," which results in the minting of silver dollars being abruptly stopped. Furthermore, Representative Samuel Hooper, who introduced the bill in the house, even admitted that Ernest Seyd had actually drafted the legislation.
Ernest Seyd himself admitted who was behind the demonetizing of silver in America, when he makes the following statement,
"I went to America in the winter of 1872 - 1873, authorized to secure, if I could, the passage of a bill demonetizing silver. It was in the interests of those I represented, the governors of the Bank Of England, to have it done. By 1873, gold coins were the only form of coin money."
1876 Due to the manipulation of the money supply in America, one third of the workforce is unemployed and unrest is growing. There are even calls for a return to Greenback money or silver money. As a result, Congress creates the, "United States Silver Commission," to investigate the problem.
This commission clearly understood that the national bankers were the cause of the problem, with their deliberate contraction of the money supply. An excerpt of their report reads as follows,
"The disaster of the Dark Ages was caused by decreasing money and falling prices ...Without money, civilization could not have had a beginning, and with a diminishing supply, it must languish, and unless relieved, finally perish. At the Christian era the metallic money of the Roman Empire amounted to $1,800,000,000. By the end of the 15th century it had shrunk to less than $200,000,000...History records no other such disastrous transition as that from the Roman Empire to the Dark Ages..."
Despite this damning report from the commission, Congress took no action.
1877 Rioting breaks out from Pittsburgh to Chicago. The bankers get together to decide what to do and they decided to hang on, as they knew that despite the violence, they were now firmly back in control. At the meeting of the American Bankers Association, they urged their membership to do everything in their power, to put down any notion of a return to Greenbacks.
The American Bankers Association secretary, James Buel, even wrote a letter to the members in which he blatantly called on the banks to subvert both Congress and the press. In this letter he stated,
"It is advisable to do all in your power to sustain such prominent daily and weekly newspapers, especially the Agricultural and Religious Press, as well as oppose the Greenback issue of paper money and that you will also withhold patronage from all applicants who are not willing to oppose the government issue of money....
...To repeal the Act creating bank notes, or to restore to circulation issue of money will be to provide the people with money and will therefore seriously affect our individual profits as bankers and lenders. See your Congressman at once and engage him to support our interests that we may control legislation."
James Buel's letter clearly had some effect, as although pressure mounted in Congress for change, the press tried to turn the general public away from the truth. An example of this is from the New York Tribune in their 10th January edition in which is stated in a bankers propaganda piece,
"The capital of the country is organized at last and we will see whether Congress will dare to fly in its face."
This early control of the media didn't work entirely nevertheless, as on February 28th Congress passed the, "Sherman Law." This law allowed the minting of a limited number of silver dollars, ending the 5 year hiatus. However this did not mean that anyone who brought silver to the United States Mint could have it struck into silver dollars, free of charge, as in the period prior to Ernest Seyd's Coinage Act, in 1873. Gold backing of the American currency also remained.
However, this Sherman Law did ensure that some money began to flow into the economy again, and coupled with the fact that the bankers now realized that they were still firmly in control, they started issuing loans again and the post Civil War depression was finally over.
The American people elect the Republican, James Garfield as the 20th President of the United States. This was a worry to the money changers, because as a Congressman, he had been Chairman of the Appropriations Committee, and was a member of Banking and Currency. The money changers were therefore aware that President Garfield was in full knowledge of their scam on the American people. Indeed following his inauguration, President Garfield stated,
"Whosoever controls the volume of money in any country is absolute master of all industry and commerce...And when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate."
Strangely enough within a few weeks of making that statement, President Garfield was assassinated on 2nd July.
The money changers spent the last decade creating economic booms followed by depressions, so that they could buy up thousands of homes and farms for pennies on the dollar. They were preparing to take the economy down again in the near future, and in a shocking memo sent out by the American Bankers Association, which would come out in the Congressional Record more than twenty years later, the following is stated,
"On September 1st 1894 we will not renew our loans under any consideration. On September 1st we will demand our money.
We will foreclose and become mortgages in possession. We can take two-thirds of the farms west of the Mississippi, and thousands of them east of the Mississippi as well, at our own price...Then the farmers will become tenants as in England...,"
1891 American Bankers Association, as printed in the Congressional Record of April 29, 1913.
The central issue in the Presidential campaign is the issue of more silver money. Senator William Jennings Bryan from Nebraska, a Democrat aged only 36, makes an emotional speech at the Democratic National Convention in Chicago, entitled, "Crown Of Thorns And Cross Of Gold." Senator Bryan stated,
"We will answer their demand for a gold standard by saying to them, you shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold."
The bankers naturally supported the Republican candidate, William McKinley who in return favored the gold standard. Furthermore those in the McKinley campaign, got manufacturers and industrialists to inform their employees that if Bryan were elected, all factories and plants would close and there would be no work.
This tactic succeeded, McKinley beat Bryan, albeit by a small margin.
Pope Leo XIII stated the following on the subject of usury,
"On the one hand there is the party which holds the power because it holds the wealth, which has in its grasp all labor and all trade, which manipulates for its own benefit and its own purposes all the sources of supply, and which is powerfully represented in the councils of State itself. On the other side there is the needy and powerless multitude, sore and suffering.
Rapacious usury, which, although more than once condemned by the Church, is nevertheless under a different form but with the same guilt, still practiced by avaricious and grasping men...so that a small number of very rich men have been able to lay upon the masses of the poor a yoke little better than slavery itself."
During the early 1900's, the money changers were anxious to advance their business of setting up another private Central Bank for America. Rothschild, Jacob Schiff, the head of Kuhn, Loeb and Co., in a speech to the New York Chamber of Commerce, stated, or rather threatened,
“Unless we have a Central Bank with adequate control of credit resources, this country is going to undergo the most severe and far reaching money panic in its history.”
They put Rothschild agent, J. P. Morgan at the forefront of their charge. Interestingly J. P. Morgan's father, Julius Morgan, had been America's financial agent to the British, and after Julius' death, J. P. Morgan took on a British partner, Edward Grenville, who was a long time director of the Bank Of England.
This year was the year of the money changers attack. J. P. Morgan and his cohorts secretly crashed the stock market. They were aware that thousands of small banks were so vastly over extended, some only had reserves of 1% under the fraudulent fractional reserve principle. Within only a few days, bank runs became commonplace across the nation.
Morgan then stepped up and publicly announced that he would support these failing banks. What he failed to mention is that he would do this by manufacturing money out of nothing. And then what happened, surprise, surprise, Congress let him do it! So, Morgan manufactured $200,000,000 of this completely reserveless private money, purchased goods and services with it, and sent some of it to his branch banks to lend out at interest.
As a result, the general public regained confidence in money, but most importantly it meant the banking power was now further consolidated into the hands of a few large banks.
With the widespread financial panic over, J. P. Morgan was hailed as a hero by the then President of Princeton University, Woodrow Wilson, who even crassly or arrogantly stated,
"All this trouble could be averted if we appointed a committee of six or seven public spirited men like J. P. Morgan, to handle the affairs of our country."
President Theodore Roosevelt had also signed into law, following the financial panic, a bill creating the, "National Monetary Commission."
This commission was supposed to study the banking problem and make recommendations to Congress. Naturally, the commission was packed with J. P. Morgan's friends and cronies.
The chairman was Senator Nelson Aldrich from Rhode Island, and he represented the Newport Rhode Island homes of America's richest banking families. His daughter married John D. Rockefeller Jr., and together they had five sons (including Nelson who would become Vice President in 1974 and David who would become Head of the Council on Foreign Relations).
Following the setting up of this National Monetary Commission, Senator Aldrich immediately embarked on a 2 year fact finding tour of Europe, where he consulted at length with the private central bankers in England, France, and Germany, or rather Rothschild, Rothschild, and Rothschild.
The total cost of this 2 year trip to the American taxpayer? $300,000. Yes, three hundred thousand dollars, that is not a misprint!
1910 Senator Aldrich returns from his two year European fact finding mission on 22nd November. Shortly afterwards some of America's most wealthy and powerful men boarded Senator Aldrich's private railcar in the strictest secrecy. They journeyed to Jekyll Island off the coast of Georgia.
In this group were Paul Warburg, who was earning a $500,000 a year salary from Rothschild owned firm, Kuhn, Loeb & Company. This salary was for him to lobby for a privately owned central bank in America. Also present was Jacob Schiff, a Rothschild who had purchased Kuhn, Loeb and Company shortly after he arrived in America from England.
The Rothschilds, Warburgs and Schiffs, interconnected by marriage, were essentially the same family.
Secrecy at this meeting was so tight that all the participants were cautioned to use only first names, to prevent servants from learning their identities. Years later, one participant, Frank Vanderlip, President of National Citibank and a representative of the Rockefeller family, confirmed the Jekyll Island trip in a 9th February 1935 edition of the Saturday Evening Post in which he stated,
"I was as secretive indeed, as furtive as any conspirator ...Discovery we knew, simply must not happen, or else all our time and effort would be wasted. If it were to be exposed that our particular group had got together and written a banking bill, that bill would have no chance whatever of passage by Congress."
It was not just the setting up of a Central Bank that was on the agenda. Other problems for these bankers were that the market share of these big national banks was shrinking fast. In the first ten years of the century the number of United States banks had more than doubled to over 20,000. By 1913 only 29% of all banks were national banks and they held only 57% of all deposits. As John D. Rockefeller put it,
"Competition is Sin!"
Senator Aldrich later admitted in a magazine article,
"Before passage of this Act, the New York Bankers could only dominate the reserves of New York. Now we are able to dominate bank reserves of the entire country."
So one of the aims of these conspirators was to bring these new banks under their control. Secondly the nations economy was so strong that corporations were starting to finance their own expansions out of profits instead of taking out huge loans from large banks. Indeed, in the first ten years of the century, 70% of corporate funding came from profits.
Basically, American Industry was becoming independent of the money changers, and the money changers were not about to let that happen.
There was also much discussion regarding the name of the new bank, which took place in a conference room in the Jekyll Island Club Hotel. Aldrich believed the word, "bank," should not even appear in the name. Warburg wanted to call the legislation, the, "National Reserve Bill," or the, "Federal Reserve Bill." The idea was not only to give the impression that the purpose of the new central bank was to stop bank runs, but also to conceal its monopoly character.
However it was Senator Aldrich, the egomaniac, who insisted it be called the, "Aldrich Bill." So, after nine days at Jekyll Island, the group dispersed. This group of conspirators immediately set up an educational fund of $5,000,000 to finance Professors at top universities to endorse the new bank.
The new central bank would be very similar to the old Bank Of The United States, in that it would be given a monopoly over United States currency and create that money out of nothing. Also in order to make the public think it was under control of the Government, the plan called for the central bank to be run by a board of governors appointed by the President and approved by the Senate.
This would not cause any undue problems for the bankers, as they knew they could use their money to buy influence over the politicians, in order to ensure the men they wanted got appointed to the board of governors.
"Not every one that saith unto me, Lord, Lord, shall enter into the kingdom of heaven; but he that doeth the will of my Father ... And then will I profess unto them, I never knew you: depart from me, ye that work iniquity."
"If the people let government decide what foods they eat and what medicines they take, their bodies will soon be in as sorry a state as are the souls of those who live under tyranny." - Thomas Jefferson