How Private Banks Create 98% of Our Money Out of Thin Air

There is a long history of how private banks acquired a franchise to create money, profit from war and peace, pillage real assets and put governments in their pocket. The American experience is instructive. In 1764, the British Parliament – influenced heavily by the private Bank of England – passed the Currency Act making it illegal for the colonies to print their own money. Historian John Twells says it made revolution inevitable. “Ruin took place in these once flourishing Colonies . . . discontent became desperation, and reached a point . . . when human nature rises up and asserts itself.”

RIELPOLITIK

Source – drowningwitches.com

  • “…Most people believe that banks lend out money deposited with them and lying idle. In reality when banks advance a loan, they simply create the money by crediting the borrower’s account electronically. Martin Wolf, chief economics editor of the Financial Times wrote last year: “The essence of the contemporary monetary system is creation of money, out of nothing….It’s a fact admitted by the Bank of England, the Federal Reserve in the US and the European Central Bank”

Alchemy Today – By Devan Maistry

Update: Early in 2014 the Bank of England admitted that banks create money – Tuesday, 26 June 2012

The global financial crisis is exposing the scam at the root of most of the world’s misery. One of the best-kept secrets is that banks make a fortune by creating money out of thin air. Victoria Grant a 12-year-old Canadian was incensed when she found out…

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3 thoughts on “How Private Banks Create 98% of Our Money Out of Thin Air

  1. Pingback: How Private Banks Create 98% of Our Money Out of Thin Air — The Most Revolutionary Act | Vermont Folk Troth

  2. It took a 12-year-old Canadian to wake people up to this world-wide, Ponzi-scheme, banking scam? Whatever. At least somebody is awake.

    I’ve read several books on this subject. The most comprehensive is G. Edward Griffin’s “The Creature from Jekyll Island: A Second Look at the Federal Reserve,” which has gone through several printings since Griffin first published it in 1994. My copy is from the 19th printing in 2007. Former Texas US Representative (and Ob-Gyn) Ron Paul has written the book “End the Fed”. When he was in Congress, Dr. Paul introduced several pieces of legislation designed to audit the Fed or to bring more transparency to the US banking system.

    I have long questioned whether any government has the right to obligate present and future taxpayers to debt over which they have no direct input, especially with respect to unborn taxpayers. Is there anything moral or ethical (or even enforceable) about debt-by-proxy?

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  3. Here in New Zealand, a group I belong to, Positive Money NZ, is running a petition campaign to pressure the Reserve Bank of NZ to issue the $100 billion budgeted for the Covid recovery – instead of borrowing it from foreign banks.

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