Executive Summary Private banking interests tell a number of lies to capture the government’s money-creation function for themselves and their cronies. The idea of political independence of central banks is one of these. Introduction A major part of getting people to accept the status quo of a private central bank is by providing a false…
Executive Summary Protecting against derivative losses is now a major motivator for central banks, which brings up the question of how much derivatives mitigate risk. Introduction This topic is covered in the following quotation. “Governments cannot be allowed to default for the same reason AIG could not be allowed to default. The financial institutions ostensibly…
Executive Summary The Treasury bond purchasing process is shrowded in secrecy and is entirely unnecessary if the US created its own money with a public central bank. Introduction Like everything else with the Fed, the bond buying process is designed to enrich connected individuals at a massive cost to the taxpayers. This is explained in…
Executive Summary All banking sins extend from the original sin of the government giving up its right to create money over to private interests that do not have the public interest at heart. Introduction The orginal sin of central banking, and from which other sins later follow, is to make the central bank controlled by…
Executive Summary The Open Market Committee is run by a private group of interests that purchase Treasuries in secret. Introduction Wight Patman describes the Open Market Committee as follows “The Open Market Committee, as presently established, is plainly not in the public interest. This committee must be operated by purely public servants, representatives of the…
Executive Summary The Federal Reserve always denies asset bubbles because they are controlled by private banks and private banks make their money from asset bubbles. Introduction The fact that the Fed denies asset bubbles when they are occurring is well known among those that study the Fed. This is explained in the following quotation. “For…
Executive Summary The ridiculous private banking controlled system most countries have mean governments borrows their own money from the private banks. Introduction The private central bank design is that the bank has to borrow its own money. This is because it entirely hands over the right to create money to an unregulated cabal of private…
Executive Summary The China banking system issued debt free money. Introduction China issues its own debt free currency. This is a superior model to the US or Europe. However, it is frequently critiqued even by those with a great deal of experience in money and banking. The following is an example of this which is…
Executive Summary The Cypress banking crisis made account holders more responsible than banks for funding the bail out or bail in. Introduction Cypress prevented its citizens from withdrawing their money. Many depositors had their accounts converted to bank stock, which subsequently devalued. Under pressure from private banks, countries around the world have changed the laws…
Executive Summary This banking act brought into existence the Federal Reserve Bank of the US, which is the US central bank. Introduction The US Federal Reserve act was passed before Christmas and written in a way such that those that voted on it could barely tell what it meant. The promoters of the act granted…