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Three Blind Bankers: Reflections on the House Financial Services Committee Hearings
Usury:
The Bible and other scriptures proscribe usury. Over thousands of generations, wise men learned time and again that interest ultimately compounds faster than nature, leading to financial ruin.
Predatory lenders go out of business in a free economy unless they are bailed out by the very people they hurt. No wonder we are in such a fine mess.
A cabal of bankers and their nominees in 1913 adopted the Income tax and private Federal Reserve Bank. Again, neither is authorized by our Constitution.
At the time of the founding of our free country, citizens objected to a three penny a pound British tax on Indian tea. Brave principled people such as Samuel Adams, Aaron Burr, Benjamin Franklin, Thomas Jefferson and James Madison opposed European Rothschild-style Central Bank financing both sides of wars. They saw Central Banks as more dangerous than standing armies.
A Supreme Court Justice described taxes as the power to destroy when the State of Maryland stopped the operation of the second US Central Bank with taxes
This case established a doctrine of implied Constitutional powers which got US into so much government mischief and trouble for citizens.
Federalist Alexander Hamilton’s portrait is on the Ten Dollar Federal Reserve Note. Hamilton, the first US Treasurer, used his New York Post and New York Bank influence to create and expand implied powers of the Constitution.
Hamilton and Washington used armed force to put down Shays and Whiskey Tax Rebellions by war veterans who did not want their land seized or to go to debtor prisons for unpaid taxes.
Hamilton’s New York Bank was the first de facto US Central Bank.
Hamilton abused public service to redeem worthless Revolutionary War Continentals and State debts bought up by his friends, with silver specie from American citizens. Aaron Burr ended their political disagreements with a duel.
President Andrew Jackson, his portrait ironically on the $20 Federal Reserve Note, opposed a Central Bank. His three elected terms, the
first stolen by the House of Representatives for Adams, included for a brief time the only debt-free administration.
AJ was impeached until a populist revolution in subsequent election prevented bankers from removing him from power. Old Hickory Jackson used his walking stick to beat down a would-be assassin whose two pistols misfired.
Abraham Lincoln’s portrait is ironically on the $5 Federal Reserve Note. It is also on the copper Penny, zinc core of its former self.
New York bankers offered to finance the Civil War for up to 36%. Lincoln bypassed bankers with direct income tax and mandatory withholding. The Supreme Court declared that unconstitutional.
Lincoln bypassed 36% Central banker usury for a time by issuing 3% Greenbacks directly from the US Treasury. He was assassinated by a Confederate agent of the very Secret Service he established under the Treasury
Greenbacks devalued and inflated almost as much as Continental and Confederate paper.
Northern Comstock and Colorado gold and silver discoveries and Sherman Silver Act purchases eventually redeemed Lincoln’s Greenbacks with President Grant’s ($50 Bill) order at the enormous cost of $1.9 Billion, causing severe depression in 1893:
http://easyurl.net/e0b03
Like Fed Chair Ben Bernanke, President Woodrow Wilson came from Princeton University. Wilson’s portrait was on the $100,000 gold certificate used by banks to settle accounts with 5000 ounces of gold. Today that gold costs $5,000,000, suggesting 1000-fold inflation.
In 1913, WW signed off on progressive income tax up to 77%.
He signed the Federal Reserve Bank Act passed by Congress in a hurry just before Christmas recess. He took US into World War I, took over the railroads and broke up Standard Oil.
WW made alcohol and drugs, but not tobacco, illegal. He took billions out of the economy for World War I with Liberty Bonds.
