“Let me issue and control a nation’s money supply, and I care not who makes its laws.” (Mayer Amschel Rothschild, Founder of Rothschild Banking Dynasty)
Prominent Americans such as Thomas Jefferson and Andrew Jackson have argued and fought against the central banking polices used throughout Europe.
A note issued by a central bank, such as the Federal Reserve Note, is bank currency. These notes are given to the government in exchange for an interest-bearing government bond. The primary means to pay for the interest on these bonds is to borrow more bank notes, thus beginning a vicious cycle that ultimately ends with the complete destruction of the currency and bankruptcy of the nation. History is replete with such occurrences. (For a list of countries that have experienced hyperinflation click here).
This begs the question as to why such a doomed system would exist? The reason is that during the course of the arrangement, which can last for centuries, the central bankers who issue the money amass great fortunes from the large sums of interest collected. In essence it is a transfer of wealth from the many to the elite few. Government leaders prefer such a system because it does not require budgets to be balanced. It is far more politically expedient to borrow, then to directly tax the citizens.
The effects of currency debasement and debt accumulation are not obvious and in the words attributed to Vladimir Lenin by John Maynard Keynes,
“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens…There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.” (John Maynard Keynes)
Throughout the history of the United States there has been a struggle between central bankers and their interest-bearing money and those who oppose them. In fact, the United States was created as a direct result of that struggle…..[continues in original]