Billions for the Bankers

Billions for the Bankers – Debts for the People (An indictment of the Federal Reserve System)
by Sheldon Emry

Thanks for posting my father’s book on your page. It is posted on another page that states it was written in 1989. My dad, Pastor Sheldon Emry, died in 1985 and the book was written around 1960. Just wanted you to know.
Martha Emry Barley
email at

Lynchburg, VA, MARCH 26, 1977
In 1901 the national debt of the United States was less than $1 billion. It stayed at less than $1 billion until we got into World War I. Then it jumped to $25 billion.
Between 1918 and 1941, on the eve of World War II, the national debt just about doubled – from $25 to $49 billion.
Between 1942 and 1952, the debt went from $72 billion to $265 billion. In 1962 it was $303 billion. Eight years later, in 1970, it was $383 billion.
Between 1971 and 1976 it rose from $409 billion to $631 billion. The estimated debt at the end of 1977 is $727 billion, and 1978 it is expected to top $800 billion – having nearly doubled in eight years. In the eighties it will exceed $1 trillion.
If the present trend continues, and there is no evidence whatsoever that it will not continue, we can expect the national debt to nearly double again within the next six to eight years.
By then, the interest on the debt alone should be in the $400 billion a year range. Eventually, the government will own nothing, the people will own nothing, and the banks will own everything.

Thomas Jefferson said,
“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”

History reveals nations can be conquered by the use of one or more of three methods.
The most common is conquest by war. In time, though, this method usually fails, because the captives hate the captors and rise up and drive them out if they can. Much force is needed to maintain control, making it expensive for the conquering nation.
A second method is by religion, where men are convinced they must give their captors part of their earnings as “obedience to God.” Such a captivity is vulnerable to philosophical exposure or by overthrow by armed force, since religion by its nature lacks military force to regain control, once its captives become “disillusioned”.
The third method can be called economic conquest. It takes place when nations are placed under “tribute” without the use of visible force or coercion, so that the victims do not realize they have been conquered. “Tribute” is collected from them in the form of “legal” debts and taxes, and they believe they are paying it for their own good, for the good of others, or to protect all from some enemy. Their captors become their “benefactors” and “protectors”.
Although this is the slowest to impose. It is often quite long lasting, as the captives do not see any military force arrayed against them, their religion is left more or less intact, they have freedom to speak and travel, and they participate in “elections” for their rulers. Without realizing it, they are conquered, and the instruments of their own society are used to transfer their wealth to their captors and make the conquest complete.
In 1900 the average American worker paid few taxes and had little debt. Last year (1984) payments on debts and taxes took more than half of what he earned. Is it possible a form of conquest has been imposed on America? Read the following pages and decide for yourself. And may God have mercy on this once debt-free and great nation.

(1 Timothy 6:10)
Americans, living in what is called the richest nation on earth, seem always to be short of money. Wives are working in unprecedented numbers, husbands hope for overtime hours to earn more, or take part time jobs evenings and weekends, children look for odd jobs for spending money, the family debt climbs higher, and psychologists say one of the biggest causes of family quarrels and breakups is “arguments pver money”. Much of this trouble can be traced to our present “debt-money” system.
Too few Americans realize why Christian statesmen wrote into Article I of the U. S. Constitution:
Congress shall have the power to coin money and regulate the value thereof.
They did this, as we will show, in prayerful hope it would prevent “love of money” from destroying the Republic they had founded. We shall see how subversion of Article I has brought on us the “evil” of which God’s Word has warned.
Economists use the term “create” when speaking of the process by which money comes into existence. Now, creation means making something which did not exist before. Lumbermen make boards from trees, workers build houses from lumber, and factories manufacture automobiles from metal, glass and other materials. But in all these they did not “create,” They only changed existing materials into a more usable and, therefore, more valuable form. This is not so with money. Here, and here alone, man actually “creates” something out of nothing. A piece of paper of little value is printed so that it is worth a piece of lumber. With different figures it can buy the automobile or even the house. It’s value has been “created” in the true meaning of the word.
As is seen by the above, money is very cheap to make, and whoever does the “creating” of money in a nation can make a tremendous profit! Builders work hard to make a profit of %5 above their cost to build a house.
Auto makers sell their cars for %1 to %2 above the cost of manufacture and it is considered good business. But money “manufactures” have no limit on their profits, since a few cents will print a $1 bill or a $10,000 bill.
That profit is part of our story, but first let consider another unique characteristic of the thing – money, the love of which is the “root of all evil”.
An adequate supply of money is indispensable to civilized society. We could forego many other things, but without money industry would grind to a halt, farms would become only self-sustaining units, surplus food would disappear, jobs requiring the work of more than one man or one family would remain undone, shipping and large movement of goods would cease, hungry people would plunder and kill to remain alive, and all government except family or tribe would cease to function.
An overstatement, you say?
Not at all. Money is the blood of civilized society, the means of all commercial trade except simple barter. It is the measure and the instrument by which one product is sold and another purchased. Remove money or even reduce the supply below that which is necessary to carry on current levels of trade, and the results are catastrophic. For an example, we need only look at America’s depression of the early 1930’s.
In 1930 America did not lack industrial capacity, fertile farmlands, skilled and willing workers or industrious families. It had an extensive and efficient transportation system in railroads, road networks, and inland and ocean waterways. Communications between regions and localities were the best in the world, utilizing telephone, teletype, radio, and a well operated government mail system. No war had ravaged the cities or the countryside, no pestilence weakened the population, nor had famine stalked the land. The United States of America in 1930 lacked only one thing: an adequate supply of money to carry on trade and commerce.
In the early 1930s, Bankers, the only source of new money and credit, deliberately refused loans to industries, stores and farms. Payments on existing loans were required however, and money rapidly disappeared from circulation. Goods were available to be purchased, jobs waiting to be done, but the lack of money brought the nation to a standstill. By this simple ploy America was put in a “depression” and the greedy Bankers took possession of hundreds of thousands of farms, homes, and business properties. The people were told, “times are hard” and “money is short”. Not understanding the system, they were cruelly robbed of their earnings, their savings, and their property.
World War II ended the “depression”. The same Bankers who in the early 30’s had no loans for peacetime houses, food and clothing, suddenly had unlimited billions to lend for army barracks, K-rations and uniforms! A nation that in 1934 could not produce food for sale, suddenly could produce bombs to send free to Germany and Japan! (More on this riddle later).
With the sudden increase in money, people were hired, farms sold their produce, factories went to two shifts, mines reopened, and “The Great Depression” was over! Some politicians were blamed for it, and others took credit for ending it. The truth is the lack of money (caused by Bankers) brought on the depression, and adequate money ended it. The people were never told that simple truth and in this article we will endeavor to show, how these same Bankers, who control our money and credit have used their control to plunder America and place us in bondage.
When we can see the disasterous results of an artificially, created shortage of money, we can better understand why our Founding Fathers, who understood, both, money and God’s Laws, insisted on placing the power to “create” money and the power to control it, ONLY, in the hands of the Federal Congress. They believed that ALL Citizens should share in the profits of its “creation” and, therefore, the National government must be the ONLY creator of money. They further believed that ALL citizens, of whatever state or Territory, or station in life, would benefit, by an adequate and stable currency and, therefore, the national government must also be, BY LAW, the ONLY controller of the value of money.
Since the Federal Congress was the only legislative body, subject to all the citizens at the ballot box, it was, to their [Our Founding Fathers’] minds, the only safe depository, of so much profit and so much power. They wrote it out in simple, but all inclusive terms: “Congress shall have the power to Coin Money and Regulate the Value Thereof”.
Instead of the Constitutional method of creating our money, and putting it into circulation, we now have and entirely unconstitutional system. This has resulted in almost disasterous conditions, as we shall see.
Since our money was handled both legally and illegally before 1913, we shall consider only the years following 1913, since from that year on, ALL of our money had been created and issued by an illegal method that will eventually destroy the United States,
if it is not changed.
Prior to 1913, America was a prosperous, powerful, and growing nation, at peace with its neighbors, and the envy of the world. But – in December of 1913, Congress, with many members away for the Christmas Holidays, passed what has since been known as THE FEDERAL RESERVE ACT. (for the full story of how this infamous legislation was forced through our Congress, read
“Conquest or Consent”, by W. D. Vennard).
Omitting the burdensome details, it simply authorized the establishment of a Federal Reserve Corporation, with a Board of Directors (The Federal Reserve Board) to run it, and the United States was divided into 12 Federal Reserve “Districts”.
This simple, but terrible, law completely removed, from Congress, the right to “create” money, or to have any control over its “creation”, and gave that function to The Federal Reserve Corporation. This was done with appropriate fanfare and propaganda that this would “remove money from politics”, (they did not say “and therefore from the peoples control”) and prevent “boom and bust” from hurting our citizens. The people were not told, then, and most still do not know today, that the Federal Reserve Corporation is a private corporation controlled by Bankers and, therefore, is operated for the financial gain of the Bankers, over the people, rather than for the good of the people.
The word “Federal” was used only to deceive the people.
Since that “day of infamy”, more disasterous to us than Pearl Harbor, the small group of “privileged” people, who lend us “OUR” money, have accrued to themselves, all of the profits of printing our money – and more!
Since 1913, they have “created” tens of billions of dollars in money and credit, which, as their own personal property, they can lend to our government, and our people, at interest (usury). “The rich get richer and the poor get poorer” had become the secret policy of our National Government.
An example of the process of “creation” and its conversion to peoples “debt” will aid our understanding.
We shall start with the need for money.
The Federal Government, having spent more than it has taken from its citizens in taxes, needs, for the sake of illustration, $1,000,000,000.
Since it does not have the money, and Congress has given away its authority to “create” it, the Government must go to the “creators” for the $1 billion.
But, the Federal Reserve, a private corporation, does not just give its money away!
The Bankers are willing to deliver $1,000,000,000. in money. or credit. to the Federal Government. in exchange for the government’s agreement. to pay it back – WITH INTEREST (usury)!.
So Congress authorizes the Treasury Department to print $1,000,000,000. in U.S. Bonds, which are then delivered to the Federal Reserve Bankers.
The Federal Reserve then pays the cost of printing the $1 billion (about $1,000) and makes the exchange. The government then uses the money to pay its obligations. What are the results of this fantastic transaction? Well, $1 billion in government bills are paid all right, but the Government has now indebted the people. to the Bankers. for $1 billion, on which the people must pay interest! Tens of thousands of such transactions have taken place, since 1913, so that by the 1980’s, the U.S. Government is indebted, to the Bankers for over $1,000,000,000,000 (trillion), on which, the people pay over $100 billion a year, in interest (usury), alone, with no hope of ever paying off the principle.
Supposedly our children, and following generations, will pay, forever and forever!
You say, “This is terrible!”
Yes, it is, but we have shown, only, part of the sordid story.
Under this unholy system, those United States Bonds have, now, become “assets” of the banks, in the Reserve System, which they, then, use as “reserves” to “create” more “credit” to lend.
Current “reserve” requirements allow them to use that $1 billion, in bonds, to “create” as much as $15 billion, in new “credit”, to lend to states, municipalities, to individuals and businesses.
Added to the original $1 billion, they could have $16 billion of “created credit”, out in loans, paying them interest, with their only cost being $1,000 for printing the original $1 billion!
Since the U.S. Congress has not issued Constitutional money since 1863 (over 100 years), in order for the people to have money, to carry on trade and commerce, they are forced to borrow the “created credit” of the Monopoly Bankers and pay them usury-interest!

Billions for the Bankers
– Part 2 of 3 –

In addition to the vast wealth drawn to them through this almost unlimited usury, the Bankers who control the money, at the top, are able to approve, or disapprove, large loans, to large and successful corporations, to the extent that refusal of a loan will bring about a reduction in the price, which that corporations stock sells for, on the market.
After depressing the price, the Bankers’ agents buy large blocks of the stock, after which, sometime later, the multi-million dollar loan is approved, the stock rises, and is, then, sold for a profit.
In this manner, billions of dollars are made, with which to buy more stock.
This practice is so refined, today, that the Federal Reserve Board need only announce, to the newspapers, an increase or decrease in their “re-discount rate” to send stocks up and down as they wish.
Using this method, since 1913, the Bankers and their agents have purchased secret, or open, control, of almost, every, large corporation in America. Using that control, they, then, force the corporations to borrow huge sums, from their banks, so that corporate earnings are siphoned off, in the form of interest, to the banks. This leaves little as actual “profits”, which can be paid as dividends, and explains, why stock prices are so depressed, while the banks reap billions, in interest, from corporate loans.
In effect, the bankers get almost all of the profits, while individual stockholders are left holding the bag.
The millions of working families of America are, now, indebted, to the few thousand, banking families, for twice the assessed value, of the entire United States. And these Banking families obtained that debt, against us, for the cost of paper, ink, and bookkeeping!
The only way new money (which is not true money, but is “credit” representing a debt), goes into circulation, in America, is, when it is borrowed from Bankers.
When the State and people borrow large sums, we seem to prosper. However, the Bankers “create” only the amount of the principal, of each loan, never the extra, amount needed, to pay the interest (usury).
Therefore, the new money never equals the new debt that is added.
The amounts needed to pay the interest (usury) on loans is not “created” and, therefore, does not exist!
Under this kind of system, where new debt always exceeds the new money, no matter how much, or how little, is borrowed, the total debt, increasingly, outstrips the amount of money, available to pay the debt.
The people can never, ever get out of debt!
An example will show the viciousness of this usury-debt system, with its “built in” shortage of money.
IF $60,000 IS BORROWED, $255,931.20 MUST BE PAID BACK !!!

When a citizen goes to a Banker to borrow $60,000 to purchase a home or a farm, the bank clerk has the borrower agree to pay back the loan, plus interest (usury).
At 14% interest for 30 years, the borrower must agree to pay $710.92 per month, for a total of $255,931.20.
The clerk, then, requires the citizen to assign to the banker, the right of ownership of the property, if the borrower does not make the required payments.
The bank clerk, then, gives the borrower a $60,000 check, or a $60,000 deposit slip, crediting the borrowers checking account with $60,000.
The borrower then writes checks to the builder, subcontractors, etc., who, in turn, write checks.
$60,000 of new “checkbook” money is, thereby, added to the “money in circulation”.
However, and this is the fatal flaw in the usury system, the only new money created and put into circulation is the amount of the loan, $60,000.
The money to pay the interest is NOT created, and, therefore, was NOT added to “money in circulation”.
Even so, this borrower (and those, who follow him, in ownership of the property) must earn and take out of circulation $255,931, almost $200,000 more than he put in circulation, when he borrowed the original $60,000!
(By the way, it is this interest that cheats all families out of nicer homes. It is not that they cannot afford them; it is because the Bankers’ usury forces them to pay for 4 homes to get one!)
Every new loan puts the same process in operation. Each borrower adds a small sum to the total money supply. when he borrows, but the payments on the loan (because of interest) then deduct a much larger sum from the total money supply.
There is. therefore. no way all debtors can pay off the money- lenders.
As they pay the principle and interest, the money in circulation disappears.
All they can do is struggle against each other, borrowing more. and more. from the money lenders each generation.
The money-lenders (Bankers), who produce nothing of value, slowly, then more rapidly, gain a death-grip on the land, buildings, present and future earnings. of the whole working population.
Proverbs 22:7 has come to pass in America.
“The rich ruleth over the poor, and the borrower is servant to the lender”.
No wonder God Almighty forbids interest (usury) on loans.
If you have not quite grasped the impact of the above, let us consider a small auto loan for 3 years. at 18% interest.
Step 1:
Citizen borrows $5,000 and pays it into circulation (it goes to the dealer, factory, miner, etc.), and signs a note agreeing to pay the Bankers $6,500.
Step 2:
Citizen pays $180 per month, of his earnings, to the Banker. In three years, he will take out of circulation $1,500 more than he put in circulation.
Every loan, of Banker “created” money (credit), causes the same thing to happen. Since this has happened millions of times, since 1913, (and continues today), you can see why America has gone from a prosperous, debt-free nation to a debt-ridden nation, where, practically, every home, farm and business is paying usury-tribute, to the Bankers, on personal, local, state. and federal debt totals, more than the combined earnings of 25% of the working people.
Soon it will be 50% and continue up.
In the millions of transactions made each year, like those above, little actual currency changes hands, nor is it necessary that it do so.
95% of all “cash” transactions in the U. S. are by check, so the Banker is perfectly safe in “creating”, that so- called “loan”, by writing the check, or deposit slip, not against actual money, but AGAINST YOUR PROMISE TO PAY IT BACK!
The cost to him is paper, ink and a few dollars in salaries and office costs, for each transaction. It is “check kiting” on an enormous scale. The profits increase rapidly, year after year.
In 1910, the U. S. Federal debt was only $1 billion, or $12.40 per citizen. State and local debts were practically non-existant.
By 1920, after only six years of Federal Reserve shenanigans, the Federal debt had jumped to $24 billion, or $228 per person.
In 1960, the Federal debt reached $284 billion, or $1,575 per citizen and state and local debts were mushrooming.
By 1981, the Federal debt passed $1 trillion and was growing exponentially, as the Bankers tripled the interest rates. State and local debts are, now, MORE than the Federal, and with business and personal debts totalled over $6 trillion, 3 times the value of all land and buildings in America.
If we signed over, to the money lenders, all of America, we would still owe them 2 more Americas (plus their usury, of course!)
However, they are too cunning to take title to everything. They will instead leave you with some “illusion of ownership”. so you, and your children, will continue to work, and pay the bankers more of your earnings. on ever increasing debts.
The “establishment” has captured our people with their ungodly system of usury and debt, as certainly, as if they had marched in with an uniformed army.
To understand it really is a “conquest,” go back to the front and read the “Three Types of Conquest” again.
To grasp the truth that periodic withdrawal of money, through interest payments, will inexorably transfer all wealth, in the nation, to the receiver of interest, imagine yourself in a poker or dice game, where everyone must buy the chips (THE MEDIUM OF EXCHANGE) FROM A “Banker”, who does not risk chips in the game,
but watches the table, and every hour reaches in and takes 10%, to 15%, of all the chips, on the table.
As the game goes on, the amount of chips in the possession of each player will go up, and down, with his “luck”.
However, the Total number of chips available to play the game (carry on trade and business) will decrease rapidly.
The game will get low on chips, and some will run out.
If they want to continue to play, they must buy or borrow them, from the “Banker”.
The “Banker” will sell (lend) them ONLY, if the player signs a “mortgage”, agreeing to give the “Banker” some real property (car, home, farm, business, etc.), if he cannot make periodic payments, to pay back, all, the chips, plus some extra chips (interest).
The payments must be made on time, whether he wins (makes a profit), or not.
It is easy to see that no matter how skillfully they play, eventually the “Banker” will end up, with all of his original chips back, and except for the very best players, the rest, if they stay in long enough, will lose to the “Banker” their homes, their farms, their businesses, perhaps, even their cars, watches, rings, and the shirts off their backs!
Our real life situation is MUCH WORSE, than any poker game. In a poker game, no one is forced to go into debt, and anyone can quit at any time, and keep whatever he still has.
But in real life, even, if we borrow little ourselves, from the “Bankers”, the local, State, and Federal Governments borrow billions, in our name, squander it, then, confiscate our earnings, from us and pay it back, to the Bankers, with interest.
We are forced to play the game, and no one can leave except by death. We pay as long as we live, and our children pay, after we die.
If we cannot pay, the same government sends the police to take our property, and give it to the Bankers.
The Bankers risk nothing, in the game; they just collect their percentage and “win it all”.
In Las Vegas, and at other gambling centers, all games are rigged to pay the owner a percentage, and they rake in millions. The Federal Reserve Bankers’ “game” is also rigged, and it pays off in billions!
In recent years Bankers added real “cards” to their game. “Credit” cards are promoted, as a convenience and a great boon to trade.
Actually, they are ingenious devices, by which Bankers collect 2% to 5%, of every retail sale, from the seller, and 18% interest from buyers.
A real “stacked” deck!
Democrat, Republican, and independent voters, who have wondered, why politicians always spend more tax money, than they take in, should, now, see the reason.
When they begin to study our, “debt-usury”, money system, they soon realize that these politicians are not the agents of the people, but are the agents of the Bankers, for whom they plan ways, to place the people, further, in debt. It takes only a little imagination to see, that if Congress had been “creating”, and spending, and issuing, into circulation, the necessary increase in the money supply, THERE WOULD BE NO NATIONAL DEBT, and the over $4 trillion, of other debts, would be practically non-existant.
Since there would be no ORIGINAL cost of money, except printing, and no CONTINUING costs, such as interest.
Federal taxes would be almost nil.
Money, once in circulation, would remain there and go on, serving its purpose, as a medium of exchange, for generation, after generation, and century, after century, just as coins do now, with NO payments to the Bankers, whatsoever!
But instead of peace, and debt-free prosperity, we have ever mounting debt, and periodic war. We as a people are, now, ruled by a system of Bankers-owned Mammon that has usurped the mantle of government, disquised itself, as our legitimate government, and set about to pauperize, and control our people.
It is now a centralized, all powerful political apparatus, whose main purposes are promoting war, spending the peoples money, and propagandizing, to perpetuate itself, in power.
Our two large political parties have become its servants, the various departments of government its spending agencies, and the Internal Revenue Service, its collection agency.
Unknown to the people, it operates in close cooperation, with similar apparati, in other nations, which are, also, disquised as “governments”. Some, we are told, are friends. Some, we are told, are enemies. “Enemies” are built up through international manipulations, and used to frighten the American people, into going billions of dollars into debt, to the Bankers, for “military preparedness,” “foreign aid to stop communism,” “minority rights,” etc.
Citizens, deliberately confused by brainwashing propaganda, watch helplessly, while our politicians give food, goods, and money to Banker-Controlled alien governments, under the quise of “better relations” and “easing tensions.”
Our Banker- Controlled government takes our finest and bravest sons and sends them into foreign wars, with obsolete equipment and inadequate training, where tens of thousands are murdered, and hundreds of thousands are crippled. Other thousands are morally corrupted, addicted to drugs, and infected with venereal and other diseases, which they bring back to the United States.
When the “war” is over, we have gained nothing, but we are scores of billions of dollars, more in debt, to the Bankers, which was the reason for the “war”, in the first place!
The profits from these massive debts have been used to erect a complete and, almost hidden, economic collossus, over our nation. They keep telling us they are trying to do us good, when in truth they work to bring harm and injury to our people. These would be despots know, it is easier to control and rob a ill, poorly educated, and confused people, than it is a healthy and intelligent population, so they deliberately prevent real cures for diseases, they degrade our educational systems, and they stir up social and racial unrest.
For the same reason, they favor drug use, alchohol, racial inter-marriage, sexual promiscuity, abortion, pornography, and crime. Everything, which debilitates the minds and bodies of the people, is secretly encouraged, as it makes the people less able to oppose them, or, even, to understand what is being done to them.
Family, morals, love of country, the Christian religion, all that is honorable, is being swept away, while they try to build their new, subservient man.
Our new “rulers” are trying to change our whole racial, social, religious, and political order, but they will not change the debt-money-economic system, by which they rob and rule.
Our people have become tenants and “debt-slaves”, to the Bankers, and their agents, in the land our fathers conquered. It is conquest through the most, gigantic fraud and swindle, in the history of mankind. And we remind you again: The key to their wealth and power, over us, is their ability to create “money” out of nothing, and lend it to us, at interest. If they had not been allowed to do that, they would never have gained secret control of our nation.
How true Solomon’s words are: “The rich ruleth over the poor, and the borrower is servant to the lender “(Proverbs 22:7).
God Almighty warned, in the Bible, that one of the curses, which would come upon His people, for disobeying His laws was:
The stranger that is within thee shall get up above thee very high; and thou shall come down very low. He shall lend to thee, and thou shall not lend to him; he shall be the head, and thou shall be the tail.
Deut. 28:44-45
Most of the owners of the large banks, in America, are of eastern-european ancestry, and connected with the Rothschild European banks. Has that warning come to fruition in America?
Let us, now, consider the correct method of providing the medium of exchange (money) needed by our people.
Under the Constitutional system, no private banks would exist to rob the people. Government banks, under the control of the people’s representatives, would issue and control all money and credit. They would issue not only actual currency, but could lend limited credit, at no interest, for the purchase of capital goods, such as homes.
A $60,000 loan would require only $60,000 repayment, not $255,931, as it is now. Everyone, who supplied materials and labor, for the home, would get paid, just, as they do today, but the Bankers would NOT get $195,931 in usury-interest, AND THAT IS WHY THEY RIDICULE AND DESTROY ANYONE, SUGGESTING GOVERNMENT (CITIZENS) MONEY, WITHOUT INTEREST (USURY), AND WITHOUT DEBT.

Billions for the Bankers
– Part 3 of 3 –

History tells us, of debt-free and interest-free money issued, by governments. The American colonies did it, in the 1700’s, and their wealth soon rivalled England, and brought restrictions from Parliament, which led to the Revolutionary War.
Abraham Lincoln did it, in 1863, to help finance the Civil War. He was later assassinated, by an agent of the Rothchild Bank.
No debt-free, or interest-free, money has been issued in America since then.
Several Arab nations issue interest-free loans to their citizens, today. (Now you can understand, what all the commotion in the Mid-East is all about, and why the Bankers-owned press is propagandizing American citizens, to think of the Arabs, as terrorists).
The Saracen Empire forbad interest on money, for 1,000 years, and its wealth outshone, even Saxon Europe.
Mandarin China issued its own money, interest-free, and debt-free, and historians and collectors of art, today, consider those centuries to be China’s time of greatest wealth, culture and peace.
Germany issued debt-free, and interest-free money, from 1935, and on, accounting for its startling rise from the depression, to a World power in 5 years. Germany financed its entire government, and war operations, from 1935 to 1945, without gold and without debt, and it took the whole Capitalist and Communist world to destroy the German power, over Europe, and bring Europe back, under the heel of the Bankers. (Now you have a better understanding of what World War II was all about).
Such history of money does not, even, appear in the textbooks of public (government) schools, today.
Issuing money, which does not have to be paid back, in interest, leaves the money available, to use in the exchange of goods and services, and its only, continuing cost is replacement, as the paper wears out.
Money is the paper ticket, by which transfers are made, and should, always, be in sufficient quantity, to transfer all possible production, of the nation, to the ultimate consumers. It is as ridiculous for a nation to say, to its citizens, “You must consume less, because we are short of money”, as it would be for an airline to say, “Our planes are flying, but we cannot take you, because we are short of tickets”.
Money, issued in such a way, would derive its value, in exchange, from the fact that it had come from the highest legal source, in the nation, and would be declared legal to pay all public and private debts. Issued by a sovereign nation, not in danger of collapse, it would need no gold or silver, or other so-called, “precious” metals to back it.
As history shows, the stability and responsibility of government issuing it, is the deciding factor in the acceptance of that government’s currency – not gold, silver, or iron buried in some hole in the ground.
Proof is America’s currency today. Our gold and silver is practically gone, but our currency is accepted.
But if the government was about to collapse our currency would be worthless.
Also, money issued, through the people’s legitimate government, would not be under the control, of a privately, owned corporation, whose individual owners benefit, by causing the money amount, and its value, to fluctuate, and the people go into debt.
Under the present debt-usury system, the extra burden of usury, forces workers and businesses, to demand more money, for the work and goods to pay their, ever, increasing debts and taxes. This increase, in prices and wages, is called “inflation”.
Bankers, politicians, and “economists” blame it on everything, but the real cause, which is the usury levied on money and debt, by the Bankers.
This “inflation” benefits the money-lenders, since it wipes out savings, of one generation, so they can not finance, or help the next generation, who must then borrow, from the money-lenders, and pay a large part of their life’s labor, to the usurer.
With an adequate supply of interest-free money, little borrowing would be required, and prices would be established by people and goods, not by debts and usury.
If the Federal Congress failed to act, or acted wrongly, in the supply of money, the citizens would use the ballot, or recall petitions, to replace those, who prevented correct action, with others, whom the people believe would pursue a better money policy.
Since the creation of money, and its issuance, in sufficient quantity, would be one of the few functions of Congress, the voter could decide, on a candidate, by his stand on money, instead of hundreds of lesser, and deliberately confusing, subjects, which are presented to us today. And since money is, and would remain, a national function, local differences, or local factions, would not be able to sway the people from the nation’s (citizen’s) interest. All other problems, except the nation’s defense, would be taken care of in the State, County, or City governments, where they are best handled, and most easily corrected.
An adequate national defense would be provided, by the same citizen-controlled Congress, and there would be no Bankers, behind the scenes, bribing politicians, to give $200 billion of American military equipment, to other nations, disarming us, while alien nations prepare to attack, and invade the United States of America.
With debt-free and interest-free money, there would be no high and confiscatory taxation, our homes would be mortgage free, with no $10,000 a year payments to the Bankers, nor would they get $1,000 to $2,500 per year, from every automobile, on our roads.
We would need no “easy payment” plans, “revolving” charge accounts, loans to pay medical or hospital bills, loans to pay taxes, loans to pay for burials, loans to pay loans, nor any of the thousand and one usury-bearing loans, which, now, suck the life blood of American families.
There would be no unemployment, divorces caused by debt, destitute old people, or mounting crime, and, even, the so-called “deprived” classes would be deprived of neither job, nor money, to buy the necessities of life.
Criminals could not become politicians, nor would politicians become criminals, in the pay of money-lenders. Our officials, at all government levels, would be working for the people, instead of devising means to spend more money, to place us further in debt to the Bankers. We would get out of entangling, foreign alliances that have engulfed us in four, major wars, and scores of minor wars, since the Federal Reserve Act was passed.
Alliances, which are, now, used to prevent America from preparing, her own defense, in the face of mounting danger from alien powers, would be useless.
A debt free America would mean, mothers would not have to work. With mother at home, juvenile delinquency would decrease rapidly. The elimination of the usury and debt would be the equivalent of a 50% raise, in the purchasing power of every worker. With this cancellation of all debts, the return, to the people, of all the property and wealth, the parasitic Bankers, and their quasi-legal agents, have stolen by usury and fraud, and the ending of their theft of $300 billion (or more), every year from the people, America would be prosperous, and powerful, beyond the wildest dreams, of its citizens, today. And we would be at peace!
(For a Bible example of cancellation of debts to money lenders and restoration of property and money to the people, read Nehemiah 5:1-13).
We realize that this small, and necessarily incomplete, article on money may be charged with over-simplification. Some may say that, if it is that simple, the people would have known about it, and it could not have happened. But this MONEY-LENDERS CONSPIRACY is as old as Babylon, and even in America, it dates far back before the year 1913. Actually, 1913 may be considered the year, in which their previous plans came to fruition, and the way opened, for complete economic conquest of our people. The conspiracy is old enough in America, so that it’s agents have been, for many years, in positions such as newspaper publishers, editors, columnists, church ministers, university presidents, professors, textbook writers, labor union leaders, movie makers, radio and television commentators, politicians– from school board members to U. S. Presidents, and many others.
These agents control the information available to our people. They manipulate public opinion, elect whom they will, locally and nationally, and never expose the crooked money system. They promote school bonds, expensive and detrimental farm programs, “urban renewal”, foreign aid, and many other schemes, which will put the people, more into debt, to the Bankers.
Thoughtful citizens wonder, why billions are spent on one program, and billions on another, which may duplicate it or even nullify it, such as paying some farmers not to raise crops, while at the same time building dams, or canals, to irrigate more farm land.
Crazy or stupid? Neither.
The goal is more debt. Thousands of government sponsored ways, to waste money, go on continually. Most make no sense, but they are never exposed, for what they really are, builders of “billions for the Bankers and debts for the people”.
So-called “economic experts” write syndicated columns, in hundreds of newspapers, craftily designed to prevent the people, from learning, the simple truth about our money system.
Commentators on Radio and Television, preachers, educators, and politicians, blame the workers as wasteful, lazy, or spend-thrift, and blame the workers and consumers, for the increase in debts and the inflation of prices, when they know the cause is the debt-money system, itself.
Our people are, literally, drowned in charges and counter-charges, designed to confuse them, and keep them from understanding, the unconstitutional and evil money system that is so efficiently, and silently, robbing the farmers, the workers, and the businessmen, of the fruits of their labor, and of their freedoms.
When some, few, patriotic people, or organizations, who know the truth, begin to expose them, or try to stop any of their mad schemes, they are ridiculed and smeared as “right wing extremists,” “super patriots,” “ultra rightists,” “bigots,” “racists,” even “fascists” and “anti-semites”.
Any name is used, which will cause them to shut up, or will, at least, stop other people from listening, to the warning, they are giving.
Articles and books, such as you are now reading, are kept out of schools, libraries, and book stores.
Some, who are especially vocal in their exposure of the treason, against the people, are harassed by government agencies, such as EPA, OSHA, the IRS, and others, causing them financial loss, or bankruptcy.
Using the above methods, they have been, completely, successful in preventing most Americans, from learning the things, you have read in this pamphlet.
However, in spite of their control of information, they realize many citizens are learning the truth. (There are several millions of Americans, who, now, know the truth, including former congressmen, former Revenue Agents, Ministers, businessmen, and many others).
Therefore, to prevent violence, or armed resistance, to their plunder of America, they plan to register all firearms and, eventually, to disarm all citizens. (in violation of the 2nd Amendment to the Constitution of the United States of America).
They have to eliminate most guns, except those in the hands of their government police or their army.
The “almost hidden” conspirators in politics, religion, education, entertainment, and the news media are working for the Bankers-owned United States, in a Bankers-owned World, under a Bankers-owned World Government! (This is what all the talk of a One World Government, promoted by President George Bush, Clinton, and others is all about).
Love of country, compassion for your race, and concern for your children should make you deeply interested in this, America’s greatest problem, for our generation has not suffered under the “yoke”, as the coming generations will. Usury and taxes will continue to take a larger and larger part, of the annual earnings, of the people, and put them into the pockets of the Bankers, and their political agents.
Increasing “government” regulations will prevent citizen protest and opposition, to their control.
Is it possible that your grandchildren will own, neither, home, nor car, but will live in “government owned” apartments, and ride to work in “government owned” buses, (both paying usury to the Bankers), and be allowed to keep just enough of their earnings, to buy a minimum of food and clothing, while their rulers wallow in luxury?
In Asia and eastern Europe, it is called “communism”; in America it is called “Democracy” and “Capitalism”.
America will not shake off her Banker-controlled dictatorship, as long as the people are ignorant of the hidden controllers. The international financiers, who control most of the governments, of the world’s nations, and most sources of information, seem to have us, completely, within their grasp.
They are afraid of only one thing: an awakened, patriotic citizenry, armed with the truth, and with a trust in Almighty God, for deliverance.
This material has given you the truth about their iniquitous system.
What you do with, it is in your hands, as in the hands of Divine Providence.
“The fear of man bringeth a snare; but whoso putteth his trust in the Lord, shall be safe” (Proverbs 29:25).
May Jesus Christ, both, enlighten, and have mercy, on America.
“Whoever controls the volumn of money in any country is absolute master of all industry and commerce.”
“While boasting of our noble deeds, we are careful to control the ugly fact that by an iniquitous money system, we have nationalized a system of oppression which, though more refined, is not less cruel than the old system of chattel slavery.”
“People who will not turn a shovel of dirt on the project (Muscle Shoals Dam), nor contribute a pound of material, will collect more money, from the United States, than will the people, who supply all the material and do all the work.
This is the terrible thing about interest (usury) … But here is the point: If the nation can issue a DOLLAR BOND, it can also issue a DOLLAR BILL. The element that makes the bond good, makes the bill good, also. The difference, between the bond and the bill, is that the bond lets the money-broker collect twice the amount of the bond, and an additional 20%. Whereas the currency, the honest sort, provided by the Constitution, pays nobody, but those, who contribute in some useful way. It is absurd, to say that our country can issue bonds, and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the people. If the currency issued by the people were no good, then the bonds would be no good, either. It is a terrible situation, when the Government, to insure the national wealth, must go in debt and submit to ruinous interest charges, at the hands of men, who control the fictitious value of gold. Interest is the invention of Satan.”
“A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the Nation and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world–no longer a government of free opinion, no longer a government of conviction, and vote of the majority, but a government by the opinion and duress, of small groups of dominant men.”
(Just before he died, Wilson is reported to have stated to friends that he had been “deceived” and that”I have betrayed my Country”.
He referred to the Federal Reserve Act, passed during his Presidency).
SIR JOSIAH STAMP, (President of the Bank of England in the 1920’s, the second richest man in Britain):
“Banking was conceived in iniquity, and was born in sin. The Bankers own the Earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen, they will create enough deposits, to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a happier and better world to live in. But if you wish to remain the slaves of Bankers, and pay the cost of your own slavery, let them continue to create deposits.”
“The modern banking system manufactures money out of nothing. The process is, perhaps, the most, astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint, and un-mint the modern ledger-entry currency”.
RALPH M. HAWTREY, (Former Secretary of the British Treasury):
“Banks lend by creating credit. They create the means of payment, out of nothing.”
ROBERT H. HEMPHILL (Credit Manager of Federal Reserve Bank, Atlanta, Georgia):
“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 position, is almost incredible, but there it is. It is the most, important subject, intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse, unless it becomes widely understood, and the defects remedied very soon.”
“The Federal Reserve (Banks) are one of the most corrupt institutions, the world has ever seen. There is not a man, within the sound of my voice, who does not know that this Nation is run by the International Bankers”.

End of Article
Posted by (Ted Pedemonti)
Constitutional Common Law Library
c/o 18-S Hartford, Ave.
Enfield, Conn. 06082

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