The goldsmith became excited about his experiment with his IOU. If only he could compel the government to make his IOUs legal tender and force the people to trade exclusively with them he would be wealthy beyond comprehension.
As time went by, the mega-rich goldsmith became even richer and his decadent offspring eventually evolved into the international banksters we know and detest today. Through their immense wealth this criminal banking cabal has come to wield unwarranted control over heavily indebted governments, businesses, and individuals throughout the world.
The Banksters Control The World
Sadly, today, the global banksters have finally realized the vile aspirations of the goldsmith -- to issue IOUs backed by nothing of value whatsoever, and all with government approval and enforcement. The process took many years of scheming and planning and included strategic goals of infiltrating governments and debasing politicians and the judiciary.
President Franklin D. Roosevelt, whose family had a long history in banking, ended domestic convertibility of the U.S. dollar to gold in 1933 when he ordered the seizure of all gold held by private citizens and corporations and made it illegal for private citizens to possess gold. (Many people today believe Roosevelt exceeded his jurisdiction and is guilty of treason.)
The coup de gr- ce was delivered in 1971 when President Nixon unilaterally cancelled the direct convertibility of the U.S. dollar to gold for all international holders of U.S. currency, transforming the dollar into a fiat currency. Fiat, in Latin, means "Let it be done." It means that the dollar was no longer convertible to gold or anything else of value and only had worth because the government decreed it so.
Because so many of the world's currencies were fixed to the U.S. dollar, they quickly became fiat too. They are all backed by nothing and cannot be redeemed at the bank for gold or silver or anything else of value. They are perpetual IOUs that never have to be paid, just like the old goldsmith's five shilling IOU.
The banks create these currencies at virtually no cost to themselves and people are forced by government decree to exchange their goods and services for them, in effect giving up their priceless life's energy to the banks for worthless bits of paper. In this way, the banksters steal the labor of billions of people in what is the greatest robbery in the history of mankind.
Banksters control and manipulate the people of the world through debt. Most nations on the planet are prisoners to bank debt, debt created by the banksters out of thin air. Such nations and their peoples are no longer sovereign. They are effectively ruled by The Money Power. Proverbs 22:7 says, "The rich rules over the poor, and the borrower is the slave of the lender." The international banksters have achieved what all the Hitlers, Caesars, and Alexanders have continually failed to achieve -- total dominance of the people and the nations of the world.
Modern banking is a colossal Ponzi scheme. 95% of the money in the world today is created as a debt, a debt owed to private banks. This includes private debt, corporate debt, and government debt. Banking is a well-planned swindle that is totally rigged in favor of the banksters. And it is ingenious. When creating loans, the banksters only create the principal, never the interest. With long term loans, the interest can amount to one and a half times the principal or more. Over time, a mortgage of $200,000 might reach in excess of $500,000, including interest.
If the banks create $20 billion, say, in a given period, borrowers will have to pay back some $50 billion. How can they pay back more money than has actually been created? It is impossible, and that's the way the banksters have designed it. Borrowers then have to borrow more and more money to increase the money supply to pay both the principal and interest on older loans, but that means more interest and then more borrowing to find more money to pay the new interest on the newer loans, and so on, ad infinitum.
Debt then grows exponentially until it become so huge that even the interest is unpayable. The banksters foreclose on their securities, in accordance with their premeditated Ponzi scheme, and the property and wealth of the world is increasingly transferred to them. It is all a game of Monopoly, except that the losses are for real and are utterly catastrophic in human terms. How many readers have actually beaten the banker in the board game of Monopoly? Not many, no doubt. The banksters have rigged the money game and they have chained us to a tread-wheel of debt that turns faster and faster with every new loan.
Who Is The Borrower And Who Is The Lender?
Now, to get back to the great deception about the borrower and whether he or the bank is actually the lender...
Most people think that when they borrow money, the bank lends them its own money from its cash vaults. A good many think that this is depositors' money; some think it is money belonging to the bank's shareholders. And others think the bank borrowed it from a bigger bank. (Where did the bigger bank get it from?)
In any case, all borrowers seem content to sign a pledge or promissory note saying that if they default on the loan the bank is entitled to seize their property to make up the losses it incurred by loaning them its money in the first place. And the borrowers believe that their pledged promissory notes are held by the bank in a secure vault until such time as a default occurs.
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