The Money System is a Confidence Trick

imageBanks loan us money they create out of nothing. Not only is this a trick, but it is outlawed by the Constitution, even though our government allows this criminal activity. This activity is at the heart of our unsound money system, which is the direct cause of our nation’s present economic collapse. To overturn our economic decline we must have a sound and constitutional money system.

I thought that, as a scientific man, I have to know something about economics. So I studied the money system for two years and could create nothing of it. Then, one day, the fact dawned on me. What I was study was not a system, but a confidence trick. The end that the money system is a confidence trick comes from the father of nuclear fission, Nobel Prize winning chemist Frederick Soddy.

A confidence trick is a scam, a racket, a tear off, a con. What make the money system a confidence trick? Put most simply, money is produced for private profit by banks rather than created for the common good by the government. Only the government of a country should create money. The confidence trick that is the currency system takes two forms.

First, rather than simply print money, the government, when it needs more money than it has obtained through taxation, issues bonds. The Federal Reserve then creates new money that did not be present before and uses this money to purchase the bonds. Then the public, through taxation, is forced to pay the interest on these bonds. This is how the National Debt was produced. Rather than impoverishing the public by forcing them to pay interest on bonds, the government could simply create money instead of having the Federal Reserve create money to buy government issued bonds.

Second, banks devised a slight way to fake money. Banks invented a separate and distinct shape of money other than cash. Banks invented a kind of money which exists exclusively as entries in their computers. Over 99% of money exists in this type. Anytime a check, credit card, debit card, or money order is used, electronic bank money is being used. Whenever someone gets a loan from a bank the bank is in fact creating entirely new electronic money that did not subsist before. Through this subtle shape of counterfeit banks have been able to get control of the money system. This confidence trick is played not only by US banks but by all banks of the world over. The money system is the world’s best running and most successful confidence trick.

Not only is allowing banks to generate money and charge us interest a confidence trick, but it is also illegal! The Constitution openly gives the power to create money to Congress and to Congress alone. It does not allow Congress to allow private corporations to create money. Article I, Section 8, Part 5 of the Constitution of the United States gives Congress the power, To coin money, regulate the value thereof, and of foreign coin.

The Constitution is the main law in the United States of America. No law passed by Congress can overrule the Constitution. It is illegal for banks to create money, and it is illegal for Congress to permit banks to create money. The only way banks could legally make money would be if an amendment to the Constitution authorizing money creation by banks were passed. There is no such amendment. Sadly the Constitution is not a self-enforcing document, and if the public do not force the government to follow its dictates the government is free to ignore the law without consequence.

President Garfield declared, He who controls the money supply of a nation controls the nation. Is it any doubt that against the will of the great majority of Americans the banks and Wall Street were able to get the bailout bill passed? The so-called bailout was nothing other than a huge transfer of purchasing power from the populace to the banks and the acquisition of worthless debt and stock by the government at high prices from the banks. Banks were capable to force this bill through because of the massive power they wield from controlling the money system. The Secretary of the Treasury, Paulson, is a banker. He is the past CEO of Goldman Sachs, and he conducts government policy in accord with the interests of banks and not of the American public.

The truth of the monetary system has long been withheld from the American public. We have been kept in the dark by the twin commandments put into effect through the influence and power of banks: we shall not have a truthful money system, and we shall not look at the money system except under their direction. A truthful, constitutional money system is the one thing banks will not stand for. The workings of the money system and the economy are all the time discussed in mysterious terms. People feel that it is something too complex for them to understand. In fact, only falsehoods and false principles have to be discussed in mysterious terms. Any person of average intelligence can know how the money system works. However, banks do everything in their power to keep people from understanding how the money system works, because if the majority of Americans ever did know, then there would soon be a great call for the abolition of the unsound and untruthful monetary system and a call for its replacement with an truthful and constitutional one.

The worldwide economic crisis we facade today is caused directly by the untruthful and unsound money system. There can be no right without economic freedom. There can be no economic freedom without a truthful money system. The people must demand a truthful money system. We must place such pressure on the government that they have no alternative but to carry out the will of the people. Either we continue to pay billions and trillions yearly to be kept artificially poor or we demand truthful US constitutional money. The choice is much clear.

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