What Our Founding Fathers Said About Credit

Dec. 3, 2009 - PRLog -- History repeats itself and this is one of the most important reasons we should all know and understand our history, so that we do not continue making the same mistakes over and over…and over and over again…

Starting as early as the 1700’s in England, Central Banks were instituted to produce the currency of an entire nation. Based on historical precedent, two specific powers are inherent in central banking practice: the control of interest rates and the control of the money supply, or inflation. The central bank does not simply supply a government's economy with money, it loans it to them at interest. Then through the use of increasing and decreasing of supply of money the central bank regulates the value of the currency being issued. It is critical to understand that the entire structure of this system can only produce one thing in the long run: DEBT.

Most recent, The Federal Reserve Act was signed in 1913 and the public was told that the Federal Reserve System was an economic stabilizer and inflation and economic crises were thing of the past. Well, as history has shown, nothing was further from the truth.

Here are what some great leaders have said throughout history regarding Central Banks. Some were contributors who in the aftermath gave great regret to their involvement or aide in instituting such on the people of their nation and creating economic slavery.

There is something behind the throne greater than the king himself”
-Sir William Pitt, House of Lords, 1770-

“The real truth of the matter is that a financial element in the large centers has owned the government since the days of Andrew Jackson”
-Franklin D. Roosevelt, US President, 1933-

“The refusal of King George to allow the colonies to operate an honest money system, which freed the ordinary man from clutches of the money manipulators was probably the prime cause of the revolution”
-Benjamin Franklin, Founding Father

“I believe that banking institution are more dangerous than standing armies… If the American people ever allow private banks to control the issue of currency… the banks and corporations that will grow up around them will deprive the people of their property until their children wake up homeless on the continent their fathers conquered”
-Thomas Jefferson (1743-1826)

“If you want to remain slaves of the bankers and pay for the costs of your own slavery, let them continue to create money and control the nation’s credit”
-Sir Josiah Stamp (1880-1941)

“Our Great Industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men... who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom.”
-Woodrow Wilson

“We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world –no government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men.”
-Woodrow Wilson

“Under the Federal Reserve Act, panics are scientifically created. The present panic (1920) is the first scientifically created one, worked out as we figure a mathematical equation.”
–Charles Lindbergh

“It was a carefully contrived occurrence, international bankers sought to bring about a condition of despair, so that they might emerge the rulers of us all.”
-Louis McFadden

“Give me control of a nation’s money supply, and I care not who makes its laws”
-Mayer Amschel Rothschild, Founder of Rothschild Banking Dynasty

We are in a very bad economic state and it looks like its getting worse. Without education and understanding of how all this started we can never finish it. Banks are creating NEW fees as the economy continues to crumble. Gift cards come with hefty fees and not all are created equal. Now, creditor firms are going to start charging for inactivity. Meaning, if you do not use your card you can be charged a fee. That’s right. Their justification for implementing this? To slow THEIR default losses. All these new banking fees being incepted while the nation is in its most vulnerable financial state in decades.

Its time to get out of debt people. Close your credit cards. Use cash. A certified credit counselor can help you create a household budget for FREE and review your credit card accounts to see if you could benefit from a debt consolidation plan and start ending this viscous cycle. Closing your cards and consolidating with a non-profit will lower the finances charges the banks are assessing and stop additional fees for delinquencies. You can be debt free, we can help. Call 800.905.1563 or visit our website freedomdm.org. Financial freedom for America starts with you and Freedom Debt Management. Were eliminating the nations debt one household at a time. Join us.

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Certified credit counselors work with potential clients to assess their current financial situation and determine what their best option may be.