DISHONEST MONEY JOSEPH PLUMMER PDF

Dreaming of a New world Order We are grateful to The Washington Post, The New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during those years. But, the world is now much more sophisticated and prepared to march towards a world government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries. Far from protecting the public, it has overseen a transfer of wealth that, if fully calculated, would total many trillions of dollars.

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Governments everywhere and at all times are short of money…The reason is simple: unlike private persons or firms, who obtain money by selling needed goods and services to others… Governments can only obtain money by grabbing it from others, and therefore they are always on the lookout to find new and ingenious ways of doing the grabbing. Taxation is the standard method; but, at least until the twentieth century, the people were very edgy about taxes, and any increase in a tax or imposition of a new tax was likely to land the government in revolutionary hot water.

He could try to raise taxes, but then again he could also wind up with another civil war on his hands. You see, King Charles II had done that too and the currency was never widely accepted. If only there was a way to print fiat money and have people accept it as real money…if only there was a way. Perhaps, with a little creativity, there was. Pretend he had no problem borrowing the real money he needed to finance his war.

It would come directly from the bankers in the form of gold or receipts fully backed by gold and the King could then easily pay his soldiers, suppliers, etc. The bankers would make a fortune financing the war and the King would have his money. Everyone except those fighting and dying of course would win…and what could be better than that?

So the bankers, being the unscrupulous but highly intelligent lot they were, came up with an ingenious plan. The money for his loans would be created out of nothing backed by only a fraction of coin but nobody would know that. The newly created bills and notes were indistinguishable from those previously backed by coin, and the public was none the wiser. If the government had done this directly, the fiat nature of the currency would have been immediately recognized, and it probably would not have been accepted at full face value… But the Bank of England also received other privileges for agreeing to assist the government.

So basically, it goes like this: The government has no money so it creates a bond. The government then offers the bond as collateral for a loan. Must be nice, huh? All of this new money flooded the economy and within just two years, prices had more than doubled. Predictably, people began to lose faith in the currency. With that, the fraudulent nature of the new currency was exposed and the scam was over…or was it? In short, like any cabal, the conspirators needed each other to protect their own interests.

When banks cannot honor their contracts to deliver coin in return for their receipts, they are, in fact, bankrupt.

They should be allowed to go out of business and liquidate their assets to satisfy their creditors. That, of course, was not allowed to happen. The Cabal is a partnership, and each of the two groups is committed to protect each other, not out of loyalty, but out of mutual self interest.

This was a fateful event in the history of money, because the precedent has been followed ever since. In Europe and America, the banks have always operated with the assumption that their partners in government will come to their aid when they get into trouble. The banks, therefore — at least the big ones — must not be allowed to fail. Only a cartel with government protection can enjoy such insulation from the workings of a free market. No longer obligated to redeem their paper in gold, the banks went to work creating ever larger quantities of money.

The result was more inflation and more suffering for the general public. But not for the cabal; King William benefited from the mechanism of extracting purchasing power from the people via inflation, and the bankers reaped the rewards of loaning massive amounts of money created out of nothing.

And the game continued. Fast forward about years: Concerned about rising gold prices, the British Government assembled a special committee in to determine the cause of and a solution to the problem. Too much money was being created and dumped into the economy.

Piles of new money chasing the same amount of products and services were driving prices up. More importantly, the committee correctly identified the solution: Bank of England notes should be made fully convertible into gold coin. This would limit the amount of paper currency that could be created to the amount of gold held in bank vaults and prices would stabilize. England needed to extract purchasing power from its citizens to pay for the war, and the bankers provided a sneaky way to do so.

Just something to consider: A wise businessman determines where his biggest profits come from and focuses on that market. Prices continued to rise and by they had again doubled. This was followed by a strong downward correction, plunging England into a deep depression.

The monetary system was an inexcusable mess and so, after the war with Napoleon ended, the Bank of England was required to again redeem its notes in gold. Countless fortunes were wiped out and England was again thrust into depression. After 5 years of intense analysis and debate, the Peel Act was passed in Unfortunately, the act was a political compromise and fell far short of what was required to correct the problem.

Even its attempts to limit the amount of paper currency banks could create proved largely irrelevant. But when the Bank of England tottered on the edge of insolvency, once again the government intervened. In the Bank was exempted from the legal reserve requirements of the Peel Act.

Such is the rock-steady dependability of man-made limits to the money supply. It is an incredible fact of history that, in spite of the…recurring failures…during these years, the central-bank mechanism was so attractive to the political and monetary scientists that it became the model for all of Europe.

The Bank of Prussia became the Reichsbank. Napoleon established the Banque de France. A few decades later, the concept became the venerated model for the Federal Reserve System. Who cares if the scheme is destructive? Here is the perfect tool for obtaining unlimited funding for politicians and endless profits for bankers.

And best of all, the little people who pay the bills for both groups have practically no idea what is being done to them. Emphasis added. Believe it or not, history actually does provide us a few examples of honest banking. The Banca della Piazza del Rialto is one such case. Sustaining itself solely on service fees from storing coins, exchanging currencies, notary services, and facilitating payments between customers , the bank not only prospered, it became the center of Venetian commerce.

In fact, the bank became so trusted, its paper currency actually traded at a premium over coins! To understand how this is possible, consider an economy with many different kinds of coins being traded; some of them shaved, some heavily worn, some debased with other metals. But this was precisely the kind of expertise the bank brought to the table.

Depositors brought their coins to the bank; the bank carefully examined the coins to determine their value and then issued a proper amount of receipts. Unfortunately, politicians eventually succumbed to the temptation of creating money out of nothing and that was the end of that. The Bank of Amsterdam provides another example. Its paper also carried a premium.

However, once this level of trust had been established, the temptation to exploit it was apparently too great to resist. The Bank began creating additional currency money out of nothing and although it enjoyed the immediate profits, it also reaped the inevitable harvest… insolvency.

For over two centuries it faithfully adhered to the principle of safe deposit. So scrupulous was its administration that, when Napoleon took possession of the bank in , he found 7,, marks in silver held against liabilities of 7,, That was 17, more than was actually needed.

It was now fractional money, and the self-destruct mechanism had been set in motion. The bank lasted another fifty-five years until when it was ordered to liquidate all of its accounts. From that point forward, fractional-reserve banking became the universal practice. However, unlike its earlier incarnations, the game is now more sophisticated and far more profitable.

At least the pioneers of the scam kept some gold or silver as reserves to back their loans of new money created out of nothing. Today, our money is created using nothing but fiat paper and computer entries as reserves!

There is no real money anywhere. That last sentence is the real kicker. Our entire monetary system, as it now stands, is based on nothing but debt. Every physical dollar, as well as every digital dollar, had to be borrowed into existence.

So long as our entire money supply is made up of this debt money, the bankers are guaranteed to earn interest on every single dollar, every moment it exists. It also means our debt is inescapable. This is a staggering thought.

We are completely dependent on the commercial banks. 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 of the picture, the tragic absurdity of our hopeless situation is almost incredible—but there it is.

Who in their right mind would hand over this kind of power and control to an unelected group of financial elites?

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