Sacred Money, Satanic Money!
The Director of the Bank of England, Sir Josiah Stamp, AD1927. ‘The   modern   banking   system   manufactures   money   out   of   nothing.   The   process   is   perhaps   the   most   astonishing piece   of   sleight   of   hand   that   was   ever   invented...   Bankers   own   the   earth.   Take   it   away   from   them   but   leave   them the   power   to   create   money,   and,   with   a   stroke   of   a   pen,   they   will   create   enough   money   to   buy   it   back   again…but   if you   want   to   continue   to   be   the   slaves   of   the   bankers   and   pay   the   cost   of   your   own   slavery,   then   let   bankers continue to create money and control credit.’ The Bank of England Quarterly Bulletin, 2014. 'Whenever   a   bank   makes   a   loan,   it   simultaneously   creates   a   matching   deposit   in   the   borrower’s   bank   account, thereby creating new money.' Robert H. Hemphill, Federal Reserve Bank of Atlanta. 'If   all   the   bank   loans   were   paid   up,   no   one   would   have   a   bank   deposit,   and   there   would   not   be   a   dollar   of   currency or   coin   in   circulation.   This   is   a   staggering   thought.   We   are   completely   dependent   on   the   commercial   banks   for   our money.   Someone   has   to   borrow   every   dollar   we   have   in   circulation,   cash   or   credit.   If   the   banks   create   ample synthetic   money,   we   are   prosperous;   if   not,   we   starve.   We   are   absolutely   without   a   permanent   money   system. When    one    gets    a    complete    grasp    upon    the    picture,    the    tragic    absurdity    of    our    hopeless    position    is    almost incredible   –   but   there   it   is.   It   is   the   most   important   subject   intelligent   persons   can   investigate   and   reflect   upon.   It   is so   important   that   our   present   civilization   may   collapse   unless   it   is   widely   understood   and   the   defects   remedied very soon.' Ralph M. Hawtry, former Secretary of the Treasury. 'Banks lend by creating credit. They create the means of payment out of nothing.' Robert B. Anderson, Treasury Secretary under Eisenhower, 1959. 'When   a   bank   makes   a   loan,   it   simply   adds   to   the   borrower’s   deposit   account   in   the   bank   by   the   amount   of   the loan.   The   money   is   not   taken   from   anyone   else’s   deposits;   it   was   not   previously   paid   in   to   the   bank   by   anyone.   It’s new money, created by the bank for the use of the borrower.' Modern Money Mechanics, Federal Reserve Bank of Chicago. 'The   actual   process   of   money   creation   takes   place   primarily   in   banks.   Bankers   discovered   that   they   could   make loans   merely   by   giving   their   promise   to   pay,   or   bank   notes,   to   borrowers.   In   this   way   banks   began   to   create   money. Transaction   deposits   are   the   modern   counterpart   of   bank   notes.   It   was   a   small   step   from   printing   notes   to   making book   entries   crediting   deposits   of   borrowers,   which   the   borrowers   in   turn   could   ‘spend’   by   writing   checks,   thereby ‘printing’ their own money.'  Professor Irving Fisher, Yale University, in his book ‘100% Money.’ 'If   two   parties,   instead   of   being   a   bank   and   an   individual,   were   an   individual   and   an   individual,   they   could   not inflate   the   circulating   medium   by   a   loan   transaction,   for   the   simple   reason   that   the   lender   could   not   lend   what   he didn’t   have,   as   banks   can   do.   Only   commercial   banks   and   trust   companies   can   lend   money   that   they   manufacture by lending it.' Testimony of Marriner Eccles, Chairman of the Federal Reserve Board, before the House Banking and Currency Committee, 1941. Congressman Patman: 'Mr. Eccles, how did you get the money to buy those two billions of government securities?' Eccles: 'We created it.' Patman: 'Out of what?' Eccles: 'Out of the right to issue credit money.'
Banking Quotes from History
Sacred Money, Satanic Money!
The Director of the Bank of England, Sir Josiah Stamp, AD1927. ‘The   modern   banking   system   manufactures   money out    of    nothing.    The    process    is    perhaps    the    most astonishing   piece   of   sleight   of   hand   that   was   ever invented...   Bankers   own   the   earth.   Take   it   away   from them    but    leave    them    the    power    to    create    money, and,   with   a   stroke   of   a   pen,   they   will   create   enough money    to    buy    it    back    again…but    if    you    want    to continue   to   be   the   slaves   of   the   bankers   and   pay   the cost   of   your   own   slavery,   then   let   bankers   continue   to create money and control credit.’ The Bank of England Quarterly Bulletin, 2014. 'Whenever   a   bank   makes   a   loan,   it   simultaneously creates   a   matching   deposit   in   the   borrower’s   bank account, thereby creating new money.' Robert H. Hemphill, Federal Reserve Bank of Atlanta. 'If   all   the   bank   loans   were   paid   up,   no   one   would have   a   bank   deposit,   and   there   would   not   be   a   dollar of   currency   or   coin   in   circulation.   This   is   a   staggering thought.     We     are     completely     dependent     on     the commercial   banks   for   our   money.   Someone   has   to borrow   every   dollar   we   have   in   circulation,   cash   or credit.   If   the   banks   create   ample   synthetic   money,   we are   prosperous;   if   not,   we   starve.   We   are   absolutely without   a   permanent   money   system.   When   one   gets a     complete     grasp     upon     the     picture,     the     tragic absurdity     of     our     hopeless     position     is     almost incredible   –   but   there   it   is.   It   is   the   most   important subject   intelligent   persons   can   investigate   and   reflect upon.   It   is   so   important   that   our   present   civilization may   collapse   unless   it   is   widely   understood   and   the defects remedied very soon.' Ralph M. Hawtry, former Secretary of the Treasury. 'Banks    lend    by    creating    credit.    They create    the    means    of    payment    out    of nothing.' Robert B. Anderson, Treasury Secretary under Eisenhower, 1959. 'When   a   bank   makes   a   loan,   it   simply   adds   to   the borrower’s    deposit    account    in    the    bank    by    the amount   of   the   loan.   The   money   is   not   taken   from anyone   else’s   deposits;   it   was   not   previously   paid   in to   the   bank   by   anyone.   It’s   new   money,   created   by the bank for the use of the borrower.' Modern Money Mechanics, Federal Reserve Bank of Chicago. 'The    actual    process    of    money    creation    takes    place primarily    in    banks.    Bankers    discovered    that    they could   make   loans   merely   by   giving   their   promise   to pay,   or   bank   notes,   to   borrowers.   In   this   way   banks began   to   create   money.   Transaction   deposits   are   the modern   counterpart   of   bank   notes.   It   was   a   small step    from    printing    notes    to    making    book    entries crediting   deposits   of   borrowers,   which   the   borrowers in    turn    could    ‘spend’    by    writing    checks,    thereby ‘printing’ their own money.'  Professor Irving Fisher, Yale University, in his book ‘100% Money.’ 'If    two    parties,    instead    of    being    a    bank    and    an individual,   were   an   individual   and   an   individual,   they could   not   inflate   the   circulating   medium   by   a   loan transaction,    for    the    simple    reason    that    the    lender could   not   lend   what   he   didn’t   have,   as   banks   can   do. Only    commercial    banks    and    trust    companies    can lend money that they manufacture by lending it.' Testimony of Marriner Eccles, Chairman of the Federal Reserve Board, before the House Banking and Currency Committee, 1941. Congressman   Patman:   'Mr.   Eccles,   how   did   you   get the   money   to   buy   those   two   billions   of   government securities?' Eccles: 'We created it.' Patman: 'Out of what?' Eccles:   'Out   of   the   right   to   issue   credit money.'
Banking Quotes from History