The Secret That Will Destroy the World's Financial System, page 4

reply to post by dooper

Because they're so big, because their good buddies control the money printing presses, they feel they aren't accountable

You have it wrong! It is the BANKS that create money. Congress gave them that power in 1913.

First: What is the difference between Money and Wealth?

Wealth:
Adam Smith, in his work The Wealth of Nations, described wealth as "the annual produce of the land and labor".. Adam Smith saw wealth creation as the combination of materials, labor, land, and technology in such a way as to capture a profit, that is an excess above the cost of production. The theories of David Ricardo, John Locke, John Stuart Mill, and Henry Thornton, in the 18th and 19th century built on these views of wealth and became known as classical economics.

Marxian economics (see labor theory of value) distinguishes in the Grundrisse between material wealth and human wealth, defining human wealth as "wealth in human relations"; land and labor were the source of all material wealth. en.wikipedia.org...

Money:
Money is Coin, Currency (paper money), and credit. If the paper money is not backed by gold, silver or other “wealth” it is a fiat currency (since the 1970's thanks to Paul Volcker, Obama's Financial Crisis Czar) and only as good as the people's trust. US federal reserve notes, and credit is “created” by banks and in many cases thanks to “fractional banking” it is backed by absolutely nothing. Fractional Banking: www.jeremiahproject.com...

The purpose of the Fed is to create money and to make a profit for the Bankers .

Money is Created by Banks: Evidence Given by Graham Towers to Canadian Parliament

Q. But there is no question about it that banks create the medium of exchange?

Mr. Towers: That is right. That is what they are for... That is the Banking business, just in the same way that a steel plant makes steel. (p. 287) The manufacturing process consists of making a pen-and-ink or typewriter entry on a card in a book. That is all. (pp. 76 and 238) Each and every time a bank makes a loan (or purchases securities), new bank credit is created — new deposits — brand new money. (pp. 113 and 238) Broadly speaking, all new money comes out of a Bank in the form of loans. As loans are debts, then under the present system all money is debt. (p. 459) freedomprime.blogspot.com...

What has been done is the bankers have given the people of the USA "fairy dust" otherwise known as fiat currency in exchange for their labor, land and resources. If the people on the Left and on the Right as well as us centralists ever get the facts through our thick skulls, no banker, financier or economist will be safe setting foot on these shores again.

To put it bluntly the contracts used to transfer your wealth to the banks, morgages and credit cards, are illegal contracts, according to the Universal Commercial Code, because the bankers exchanged nothing of value for your wealth. In most cases the "money" was created on the spot by a computer entry. I have a friend who won a court battle with the credit card companies based on this fact. Others have also done it. (Sorry can't find my reference)