How The 1890 US Depression Was Created by Private Banking Interests

Executive Summary

• Private banking interests have the ability to cause depressions to achieve their political objectives.
• The 1890 US Depression is one example of this.

Introduction

This was initiated by private banking interests to kill greenbacks. This is a quote from the president of the American Banking Association in 1877.

“It is advisable to do all in your power to sustain such prominent daily and weekly newspapers, especially the agricultural and religious press as will oppose the greenback issue of paper money, and that you will also withhold patronage from all applicants who are not willing to oppose the government issue of money to repeal the act creating banknotes or to restore it to circulation, the government issue of money will be to provide the people with money, and will therefore seriously affect our individual profits as bankers and lenders. See your congressman at once and engage him to support our interest that we may control legislation.”

Source: The Web of Debt

https://www.amazon.com/Web-Debt-Shocking-Truth-System/dp/0983330859

The Standard Approach of Fighting Against Debt-Free Money

Yes, the greenback, which means the US issuing its own debt-free money, will “seriously affect our individual profits as bankers and lenders.”

The question should be asked, by what right do private bankers claim the money creation function from the government. The claim is illogical and can only be made to seem reasonable by using fallacious arguments about how banking works (the role of mainstream economists) and cloaking the topic in mystery (the role of private central banks).

Private bankers will pay off any media source, bribe any politician, and fund any think tank, and drop countries into recession or depression to interfere with governments issuing their own debt-free money.