MoneyChangers

Jesus made it quite clear how angry he was with the money changers who turned the house of His Father into a cave of robbers. Today the house of his Father is not a physical temple in Jerusalem but is a global spiritual temple comprised of those who make up the body of Christ called by the Father in faith.

The following is unequivocally the best explanation I have seen in regard to the banking scam that the nefarious “leaders” of the nations have underhandedly sold to us in an effort to enslave us forever. My thanks to Pat Kelly for his work on this.
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A number of years ago, the Central Bank of the United States of America, “the Federal Reserve”, produced a document entitled “Modern Money Mechanics”. This publication detailed the institutionalised practice of money creation as utilised by the Federal Reserve and the web of global banks which it supports. On the opening page, the document states it’s objectives: “The purpose of this booklet is to describe the basic process of money creation in a ‘fractional reserve’ banking system”. It then proceeds to describe this practice through various banking practice terminologies. A translation of it goes something like this:

The United States government decides it needs some money, so it calls up the Federal Reserve and requests, say, $10,000,000,000. The Fed replies saying “Sure, we will buy $10 billion in government Bonds from you”. So the government takes some pieces of paper, paints some official-looking designs on them and calls them “Treasury Bonds”. Then it puts a value on them of $10 billion and sends them over to the Feds. In turn, the people in the Fed draw up a series of impressive looking pieces of paper themselves, only, this time, calling them Federal Reserve notes, also designated with a value of $10 billion. The Feds then take these notes and trades them for the Treasury Bonds. Once this trade is complete, the government than takes the $10 billion in Federal Reserve notes and deposits them in a bank account, and on doing this, the $10 billion becomes legal tender money, adding $10 billion to the US money supply. And there it is: $10 billion in new money has been created. Of course, this example is a generalisation because in reality, this transaction would occur electronically, with no paper used at all. In fact, only 3% of the US money supply exists in physical currency and the other 97% exists in computers alone.

Now, Government Bonds are by design, instruments of debt, and when the Fed buys these bonds with money which essentially it created out of thin air, the government is actually undertaking to pay back that money to the Fed - in other words, the money was created out of debt.

This mind-numbing paradox that money or value can be created out of debt or liability, will become more clear as we continue this exercise. So, the exchange has been made and $10 billion sits in a commercial banking account. Here, is where it gets really interesting, for as based on the fractional reserve practice, that $10 billion deposit instantly becomes part of that bank’s reserves, just as all deposits do. And as regarding the fractional reserve requirements, as stated in Modern Money Mechanics, a bank must maintain legally required reserves equal to a prescribed percentage of it’s deposits. It then quantifies this by stating “under current regulations, the reserve requirement against most transaction accounts is 10%”. This means that with the $10 billion deposit, 10% or $1 billion is held as the required reserve, while the other $9 billion is considered as an excessive reserve and can be used as the basis for new loans. Now it is logical to assume that this $9 billion is literally coming out of the original $10 billion deposit, however, this is actually not the case. What really happens is that the $9 billion is actually created out of thin air on top of the original $10 billion deposit. This is how the money supply is expanded, as stated in Modern Money Mechanics, “of course they (the banks) do not really pay out loans from the money they receive as deposits. If they did this, no additional money would be created. What they do when they make loans is to accept promissory notes in exchange for credits in the borrower’s transaction accounts”. In other words, the $9 billion is created out of nothing simply because they have a demand for that loan and there is a $10 billion deposit to satisfy the reserve requirements.

Now, let’s assume that somebody walks into this bank and borrows the newly-available $9 billion, they will then most probably take that money and deposit into their own bank account. The process then repeats, as that deposit becomes part of that bank’s reserve, and while 10% is held as a reserve, the remaining 90% or $8.1 billion is now available for more newly created loans. And of course, that $8.1 billion can be lent out, creating a further $7.2 billion which in turn can create a further $6.56 billion, ... This money deposit/loan-creation cycle can technically go on to infinity. The average mathematical result is that $90 billion can be created on top of the original $10 billion. In other words, for every deposit that ever occurs in the banking system, nine times that amount can be created out of thin air.

So, now that we understand how money is created by this fractional-reserve banking system, a logical, yet elusive, question might come to mind: “What is actually giving this newly traded money value?”. The answer: “the money which already exists”. The new money essentially steals value from the existing money supply. The total money pool is being expanded irrespective for the demand for goods and services, and as the demand and supply balance finds equilibrium, prices rise, diminishing the purchasing power of each individual dollar. This is generally referred to as Inflation and inflation is essentially a hidden tax on the public.

The fractional-reserve banking system is inherently inflationary. One dollar in 1913 had the equivalent value of $21.60 in 2007. That is a 96% devaluation since the Federal Reserve came into existence. If this reality of perpetual and continuous inflation seems absurd and economically self-defeating, then hold that thought as “absurd” is an understatement with regard to how the US financial system really operates. For, in that financial system, money is debt, and debt is money. The more money there is, the more debt there is and the more debt there is, the more money there is.

To put it a different way, every single dollar in your wallet is owed to somebody by somebody. Remember, the only way that money can come into existence is from loans, therefore is everyone in the country, including the government, were able to pay off all debts then there would not be one dollar in circulation. In September 1941, the Governor of the Federal Reserve stated: “If there were no debts in our money system, there wouldn’t be any money”.

In fact, the last time in American history the National Debt was paid off in full was in 1835 when President Andrew Jackson shut down the Central Bank which preceded the Federal Reserve. He stated: “The bold efforts the present bank has made to control the Government ... are but premonitions of the fate that awaits the American people should they be deluded into a perpetuation of this institution or the establishment of another like it”. Unfortunately, this message was short-lived and the bankers installed another Central Bank in 1913, calling it the Federal Reserve, and as long as this institution exists, perpetual debt is guaranteed.

We now have the added factor of Interest. Every single dollar which exists has to be repaid to a bank with interest added as well. But, if all money is borrowed from the Central Bank, and is expanded by commercial banks through loans, only what would be referred to as “the principal” is being created in the money supply. So, from where does the money needed to pay this interest come? Nowhere. It doesn’t exist. The ramification of this are staggering. The amount of money owed back to the banks will always exceed the amount of money in circulation. This is why inflation is a constant in the economy. New money is always needed to cover the perpetual deficit built in to the system, caused by the need to pay the interest. This ensures that defaults and bankruptcy are guaranteed to occur and there will be foreclosures. This always transfers true assets from the individual to the banks. If you are unable to pay your mortgage, then they will take your property. This is particularly annoying as the money which the bank lent you in the first place, didn’t even legally exist.

In 1969, there was a Minnesota court case involving a man named Jerome Daly who was challenging the foreclosure of his home by the bank which provided the loan to purchase it. His argument was that the mortgage contract required both parties (he and the bank) to put up a legitimate form of property for the exchange. In legal language, this is called “consideration”. Mr Daly explained that the money was, in fact, not the property of the bank as it was created out of nothing as soon as the loan agreement was signed. Remember what Modern Money Mechanics stated about loans: “What they do when they make loans is to accept promissory notes in exchange for credits ... reserves are unchanged by the loan transactions, but the deposit credits constitute new additions to the total deposits of the banking system”. In other words, the money doesn’t come out of their existing assets, the bank is simply inventing it, putting up nothing of it’s own, except for a theoretical liability on paper. As the court case progressed, the bank’s President, Mr Morgan, took the stand and the judges memorandum records that the “Plaintiff admitted that it, in combination with the Federal Reserve Bank ... did create the entire $14,000 in money in credit upon it’s own books by bookkeeping entry ... the money and credit first came into existence when they created it. Mr Morgan admitted that no United States Law or Statute existed which gave him the right to do this. A lawful consideration must exist and must be tendered to support the Note” ... The jury found that there was no lawful consideration, and I agree, only God can create something of value out of nothing.” On this finding, the court rejected the bank’s application for foreclosure and Mr Daly kept his home.

The implications of this court decision are immense. Every time you borrow money from the bank, whether it is a mortgage loan or a credit card charge, the money given to you is not only counterfeit, but it is an illegitimate form of ‘consideration’ and hence voids the contract to repay as the bank never had the money as property to begin with. Unfortunately, such legal realisations are suppressed and ignored and perpetual wealth transfer and perpetual debt continues. This brings us to the ultimate question: “Why?”

During the American Civil War, President Lincoln bypassed the high-interest loans offered by the European banks and decided to do what the Founding Fathers advocated, which was to create an independent and inherently debt-free currency. It was called the “greenback”. Shortly after this measure was taken, a private document circulated between British and American banking interests stated “... slavery is but the owning of labour and carries with it the care of the labourers, while the European plan ... is that capital shall control labour by controlling wages. This can be done by controlling the money. It will not do to allow the greenback as we cannot control that”. - The Hazard Circular, July 1862.

The fractional reserve policy perpetrated by the Federal Reserve which has spread in practice to the great majority of banks in the world, is, in fact, a system of modern slavery. Think about it: money is created out of debt. What do people do when they earn debt? They submit to employment to pay it off. But if money can only be created out of loans, how can society ever be debt-free? It can’t, and that’s the point. And it is the fear of losing assets coupled with the struggle to keep up with the perpetual debt and inflation in the system, compounded by the inescapable scarcity in the money supply itself, created by the interest which can never be repaid, that keeps the wage slave in line, powering the pyramid which only benefits the elite at the top of the pyramid. At the end of the day, for whom are you really working? The banks. Money is created in a bank and inevitably ends up in a bank. They are the true masters along with the corporations and governments which they support. Physical slavery requires people to be housed and fed, economic slavery requires people to house and feed themselves.

It is one of the most ingenious scams for social manipulation ever invented, and at it’s core, it is an invisible war waged against the population. Debt is the weapon used to conquer and enslave societies and interest is its prime ammunition. As the majority walks around, oblivious to this reality, banks in collusion with governments and corporations continue to expand and perfect their tactics of economic warfare, spawning new bases such as the World Bank and the International Monetary Fund and introducing a new kind of soldier - the economic hitman.