The Evil of Finance

"A man who has made a loan upon interest, and has gained thereby, should not be permitted to live. Whoever does such abominations must die; his blood shall be upon him." Ezekiel 18:13 "The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered... Banking establishments are more dangerous than standing armies." Thomas Jefferson

Many people think that finance is a complex subject. This is certainly true of our present money system, but it needn't have been. The essential principles of a sound, honest system of money are simple enough for anyone of average intelligence to understand. The reason most people don't understand money systems is that inquiry is discouraged, partly by the widespread, incorrect belief that finance is necessarily very complicated.

Our money system is complicated because it is not honest. It is a swindle that grew out of medieval credit fraud by Jewish goldsmiths, who lent promissory notes far in excess of actual gold deposits. These goldsmiths drew interest—real money that somebody had to earn with work—as the result of lending this "funny money" under the fiction that it was backed by gold. The swindle fed and fattened upon its previous successes, to the point where Finance has become more powerful than nations.

The corrupt banking system became a great danger to our race primarily because those affected were either ignorant of its true nature or were induced to tolerate it because of its immediate financial expediency. We have been like a child who can't resist licking a poisoned lollipop.

To this day, banknotes are counterfeit notes, whatever they might have printed on them, whatever the banks have to say about the matter, and regardless of the government's assurances. The ruling bankers, the ones who operate the fraud internationally, prefer to use make-believe to keep themselves in the position of Man-Fleecer. But when the tricks don't work, when the "livestock" rebel, the bankers use the police, the courts, hired mercenaries, and where necessary the "national" Armed Forces, to enforce their institutionalized larceny, this fraudulent acquisition of wealth created by other people.

In retrospect, it's easy to see how a king could have nipped the emerging goldsmith's swindle in the bud. He would merely have to offer to redeem all the promissory notes issued by a suspected issuer at a 10% markup to motivate the note-bearers to sell. Then, once he had all of the goldsmith's debts in his own favor, the King would present them all to the suspected lender for redemption. If he could not pay, he would be arrested and, most likely, put to death under torture, as would be fitting. Whatever assets he did have would be seized in satisfaction of the debt, and the guilty goldsmith's name and fate would be published throughout the land to shame the family that produced him and to put the people on guard against the crookedness of moneylenders. But alas, that wasn't done in the beginning, and now the swindle has become like an out-of-control forest fire. If we survive the conclusion of that swindle, we must remember to be on guard forevermore against new schemes of the same kind.

It is easier to douse a campfire than it is to fight a forest fire. But if your apathy allows the flames to spread, then you must fight the forest fire. If the fire burns up your whole world, then where will you be?

To the average person, it looks as if the government is setting things right when the courts award to a bank the collateral used to secure a defaulted loan or when lawmen enforce a foreclosure or repossess property for a bank when someone can't make his payments. But really, the government is in such cases serving the banks as a "strongarm" accomplice to a fraud that originated within the banking system itself. The real swindle arises as the result of money being created by a private association of bankers as debt in their favor. This is in effect the levy of a surcharge against a nation in order for it to be granted the privilege of using its own credit.

Since credit is nothing more or less than the trust that one man is willing to vest in another, what right do the bankers have to levy this surcharge? What right do the bankers have to get in the way between two men and tax their faith in each other's good word? None—except that the government's police and soldiers will back up the bankers' claims with guns and bullets. In the United States, this bankers' association is known as the Federal Reserve (a very misleading name). Nobody sends the police around to arrest the officers of the Federal Reserve for the larceny that they do, even though it is larceny on the biggest scale ever in history.

You members of the Armed Forces simply must become wise to what's going on. I was an officer of the USAF for four years, and it wasn't until about 8 years after leaving active duty that I learned, for the first time, what the threat to the U.S. national security really was. Frankly, some of your own officers may be a part of that threat. Understand this, and figure out what you must do tactically. Strategically, your duty may require that you undertake a conquest of your own country, in order to save your people from enslavement.

Governments are not so stupid that they do not recognize the crookedness of the bankers' lending game. When they send the police to enforce the bankers' "property rights" on defaulted borrowers, they enter into the bankers' racket as an accessory both before and after the fact. (In case you're not familiar with the terms, an "accessory before the fact" is someone who makes it easier for a criminal to commit a crime. An "accessory after the fact" is someone who helps the criminal to get away with a crime he has committed.)

Although the US Department of Justice recognizes several kinds of frauds in which banks and their more docile customers can be victims, it has never recognized, as far as I know, that banking is fraud. When the government speaks of fraudulent loans, they refer to loans obtained with false information and qualified as a loss to the banks. The law says not one word about the fact that loan money, whisked into existence by bankers as bookkeeping entries, is itself a fraud. Money is a kind of information about value and work. When loan money is created by a penstroke, a corresponding, though false, implication is made about the existence of real value or work done, for which that money stands. Every bank loan is a fraud, and this fraud is no less injurious for having become legal and customary.

It would be one thing, and a far better thing, if the bankers were to justify the creation of loan-money by going out and doing a lot of hard work, enough work that would entitle them to award themselves the amount of cash that they might subsequently lend to borrowers. But they don't do such work. Since they don't do such work, they are not entitled (morally) to create loan-money, any more than you would be entitled to do so. Having a job with a bank shouldn't make someone an "elite" citizen with a "deluxe" set of civil rights. When the banks create loan-money anyway, they are counterfeiting in the practical, if not the legal, sense of that word. When they loan this money and extract interest income from the borrower, they are stealing the benefit of work done by the borrower.

The banker does no work, aside from bookkeeping, but by getting people in general to believe in his money fantasies, he arranges to acquire great amounts of wealth from their work. Every cent that a banker makes this way is stolen money—stolen, that is, as a con-man steals (by deception), not as a burglar steals (by stealth) or as a bandit steals (by threat). But it is stealing nonetheless, and whatever this "banking" brings a man really belongs to someone else.

More than that, a money system in which money is created by debt (borrowing from banks) is a system that is guaranteed someday to cause a general economic collapse. Why? Banks create money by "accounting it into existence" (by making a mark on a ledger) and then loaning it. The banks don't, additionally, make a gift of the extra money that will be required, later, to pay the interest on the loaned principal. And though through subsequent trading some people might end up with more or less than the average share of bank-debt, the nation as a whole must keep sliding further and further into debt to the bankers. Eventually, not even the interest can be paid and the nation's credit vanishes. Economic collapse follows.

In the resulting bad times, the bankers, with help from the media, encourage people to blame each other, setting conservatives against liberals, men against women, rich against poor, and so forth, while the real criminals hide in their vaults, sniggering and gloating over their foreclosures. The Jewish debt-money system annihilates trust among men, thereby strengthening the bankers' control over the nation's dwindling credit.

The results include...

1. Inflation of prices. Each person or business tries as hard as he can to divest himself of his own part of this interest-bearing bank debt. Inflation in the prices of goods is the way sellers attempt to clear themselves. Of course, this only results in a worse situation for the buyers, who try to fight back by buying less, which in turn results in a gradual downward trend in the average citizen's standard of living.

2. The decline of craftsmanship. As the bankers' swindle sucks up the national credit and the interest on public and private bank-debt takes an ever-larger bite out of the nation's productive capacity, it becomes more and more difficult for individual craftsmen to make a living. Farmers lose their property when they are forced to bet everything on having an exceedingly good harvest in order to repay the bank loan they had to take out to buy seed and equipment, but due to dry weather or whatever a sufficiently bountiful harvest does not materialize. Similarly, artists find that they can no longer work fast enough, or command prices high enough, to earn enough money even to pay the inflated costs of their rented homes. The consumers' demand for art is then satisfied by cheap, tawdry, mass-produced crap.

3. A high divorce rate. Marriages are weakened when two incomes are needed to support the family, and they often fail because of conflicting economic interests between husbands and wives. (Combined with feminist child custody laws, such a conflict of economic interests practically ensures the failure of a high percentage of marriages.)

4. Conflict between socio-economic classes. Resentment arises between people who have already failed to escape the consequences of debt (the poor, the "proletariat") and those who haven't failed yet (mostly, the middle class, the "bourgeoisie"). The conditions favorable to a Communist revolution can be traced to this bank fraud.

5. Liberals and conservatives blaming each other for spending too much tax money and thereby causing the deficit. The deficit is really caused by the service charges on the government's debt to the banks. A nation needs a strong defense, and certain social programs are also justified to some extent. Neither political faction bears the real blame for the budget deficit, which is simply the result of money coming into existence as debt and necessarily accruing interest charges that are mathematically impossible to repay.

6. Growing hostility between the government and the people. Government, too, is ensnared in the bankers' interest swindle. It is a "player" trying to escape, or minimize, its load of bank-debt. But as money has come to stand for debt, and not for wealth, it can't off-load the accumulated burden of deficit unless there is someone else who can be required, somehow or other, to bear it instead. Thus, the government gains an incentive to have an ever-rising number of picky, picky laws and regulations, with fines as the penalty for violations. The traffic citation you had to pay is the result of state policemen being ordered to enforce such picayune laws instead of tracking down the perpetrators of far more serious crimes. Also, the government begins requiring citizens to pay "license fees" for exercising what ought to be their basic rights. Your permit to carry a concealed weapon is an example.

7. The erosion of public trust, of the faith of man in man, and the subsequent atomization of society. The banks do not bear all of the blame for this. Racial mixing, multiculturalism, and the rise of television as the national amusement also have had major adverse impacts on voluntary socialization. But as the weight of the mounting, unpayable interest on the public and private bank-debt makes itself felt, each citizen increasingly feels himself as a hostile competitor to every other citizen. We call the situation "dog-eat-dog." Ironically, this makes the bankers' position more secure precisely because it discourages nationalist solidarity among the people. Nationalism is the only means by which the people could gather the political strength to force their way out of the bankers' snare.

8. An eventual national economic depression. The private load of bank-debt, taking together the whole population, can never be repaid and can only increase with time. Any relief felt now means that the government has just borrowed more money, which will only add to the future burden. Remember that any unpaid interest itself becomes interest-bearing debt. Since all money in circulation only represents the original principal loaned, a nation is "hooked" into an eventual bankruptcy by its very first borrowing. For a government knowingly to borrow against the nation's credit under these terms is high treason, for which the penalty since the beginning of civilization has been death.

Blame attaches to the government only insofar as it knowingly cooperates with the bankers' deadly financial schemes by making, by enforcing, or by judging the laws in ways that favor those schemes. Unfortunately, corrupt governments do this much, and corrupting the government is among the first things the swindlers do. The illicit establishment, in 1868, of the 14th Amendment, even though the Amendment never was legally ratified by the states as the Constitution requires, was perhaps the largest single treasonous act by the U.S. government on behalf of the bankers.

The law departs from morality when it allows bankers to exercise a special right to create money without working for it, while everybody else is legally prohibited from exercising that same right. The result is a legalized form of slavery in which the whips and the guns of the master class are hidden behind a thin curtain of checkbook balances. There is a better kind of money system, which is based on work already done and wealth already produced, rather than on loan-debt. We don't have a wealth-based money system only because the bankers took it away from us, so that money might become a weapon in their hands and a chain on our ankles.

Although many small town bankers are honest people, merely doing what is expected of them, banking itself is a thoroughly corrupt business. The ruling bankers, however, are not honest. They are after power, and they are using debt to themselves, debt arising from the aforementioned swindle, in which honest people have to work to pay interest on loan money that a banker created as a bookkeeping entry. The world is, and has for many years been, fighting a losing war against these ruling bankers. If it is a war, then it should be fought as a war is fought, and the ruling bankers, such as the officers of the "National" (they're not national) Banks and the "Federal" (it's not federal) Reserve should be seized, physically and personally, wherever they are, and held to account for the harm they do us.

The power of international Finance is so great that it can create Depressions by playing games with the money supply. It can stampede countries into war by creating or by threatening to create Depressions in them. It can destroy nations, whose governments do not voluntarily submit to the bankers' agenda, with a war from many sides.

The Federal Reserve is certainly part of a banking conspiracy to enslave Americans with debt, with the claims of the bankers backed up with the soldiers and police of the government, which the bankers may be said, now, to own. The present money system is headed for a complete and unavoidable failure, as soon as the rising interest charge exceeds the ability of the whole nation to service. When that happens, the bankers will have all the property, and the rest of us will have nothing. They will have sucked the Earth from under the feet of Mankind.

It is true, in principle, that the governments of the strongest countries (in particular, the USA) could go so far as to repudiate the public debt, legally declare all private indebtedness to banks null and void, arrest the banking conspirators and execute them—after, we may presume, some sort of trial. This forceful escape from the bankers' snare, however justified inasmuch as the banking system is fraudulent, presumes a degree of coordination does not exist...yet. Let us hope that such a "counter-conspiracy" does exist before too much more time passes.

The Federal Reserve has counterpart banking associations in other countries. Each of these associations has a representative in a group known as "Bilderberg," who meet in secrecy each year to decide the economic agenda that all of the visible heads of state are to obey. If a grand slam of Nationalist revolutions can be brought about in the White countries, the capture of the Bilderbergers will have a top strategic priority.

They who hold themselves above the laws of nations do not deserve the protection of the laws in any nation. Being outlaws universally, the ruling bankers may be summarily punished for their wickedness at any time, by anyone, whether for a specific cause or on general principles. And they should be punished in a way that will make it forever impossible for them to perpetrate any further mischief on their fellow men.

It will not do for the callous audacity of those who set up and who operate this immense scam to go unpunished. The logical end of monetized debt, where money comes into existence only as loans, meaning that the total debt (original loan plus its interest) can never be repaid, is a total economic collapse in which people, not understanding why the "bad times" happened, blame each other instead of the real culprits: the bankers.

It is important that punishment reach the ones who are truly responsible for the harm, and it is important that the punishment be severe enough to deter repetitions of the crime: the theft, by means of illicit interest charges, of the compensation for hundreds of millions of man-years of labor. A world-spanning fraud that, in the end, might involve the starvation of millions, the impoverishment of billions of people, easily warrants the most fearsome punishment that the mind of Man can devise. Not merely the death penalty, but something more.

I recommend that each of the ruling bankers, after being apprehended, indicted, tried and convicted, be set to work at hard labor and fed below subsistence until they will have died. If they are fed 1500 calories per day, then require them to work until they have spent 2500 calories of energy in their labor. If they are caught cheating, attach a caloric penalty to their next day's food ration. If they refuse to work, then feed them nothing at all. In essence, this punishment puts the victim's bodily economy into the same situation that the bankers now put every person touched by their frauds.

See also America's Total Debt Report by M.W. Hodges

The Federal Reserve MONOPOLY Game

Imagine that you and four guests decide to play MONOPOLY at your house, however with the following "house rules":

1. Each player must put $15 (in Federal Reserve banknotes) into your house safe. This "real" money is security for the loans mentioned in House Rule #2. When (and if) all of their original loans, plus interest, are repaid in MONOPOLY bucks, you will give them back their $15 deposit.

2. You, as the banker, loan 1500 MONOPOLY bucks to each player at the beginning of the game. You never give any money debt-free. The interest rate on the unpaid balance of the debt is one percent per turn. At the end of the first turn, for example, each player owes you 15 MONOPOLY bucks.

3. Each player must pay his interest to the bank at the end of each turn. If he cannot pay, he loses the game, and his assets are seized by the bank, and since you're the bank, you may put these assets into play in competition with the remaining players.

4. You, as the banker, can never go broke. Even if all of the MONOPOLY money in the bank is in play, you may "authorize yourself" to write more MONOPOLY money on little slips of paper.

5. Nobody gets any money debt-free from the bank. Whenever anybody passes "GO", they are offered a 200-MONOPOLY-buck "line of credit," which, if accepted, is added to the player's debt and is also subject to the 1% per turn interest rate.

6. Nobody gets any money debt-free from the bank. Whenever anybody collects a card from "Chance" or the "Community Chest" saying that they "collect" a certain amount of money, the bank (that's you) will offer to loan them that amount of money at the rate of 1% interest per turn.

7. Whenever one player sells property to another player, you charge the buyer $100 as a "broker's fee" and you charge the seller 10% of the sale as "closing costs."

8. At the end of every fourth round of play, each player must pay the bank (you) an extra $50. This represents the additional taxes that citizens must pay to service the national debt. What national debt? These house rules are intended to make MONOPOLY more similar to the real financial world. It might not seem "fair" to burden every player with the pre-existing condition of a national debt, but it is no more unfair than the real-life national debt, which you pay interest on through your taxes, but which accrued either before you were born or against your wishes.

9. Money paid to the bank as a penalty does not count toward reducing the player's debt to the bank. Examples: income tax, luxury tax, national debt tax, Chance or Community Chest card, getting out of jail...

10. At the end of the game, those players who clear themselves of debt will be entitled to collect from you $1 for each 100 MONOPOLY bucks they are worth (after the sale of houses and hotels and mortgaging their unmortgaged properties). You will make such payments, however, only from any remaining player-deposited cash in your house safe. If the claims exceed the deposits, you declare the banking system to be busted, and the players lose their winnings. The banker is never to be held accountable.

You can read more about the banking scam here. —Jerry Abbott]

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