The foundation of central banking was the convertibility of its debt-based paper money to gold or silver. This convertibility provided the confidence to exchange valuable goods and services for the bankers’ paper banknotes.
The ability to convert paper banknotes for gold and silver provided the requisite confidence for the bankers system to function. As long as the delicate balance between credit and debt could be maintained, this system, known as capitalism, provided England with an insurmountable advantage over the rest of the world.
England alone was able to send its army and navy to war on credit. Its navy essentially became a fleet of state-sponsored pirates, allowing England to invade other countries with impunity, plunder their wealth and become the largest empire in the world since Rome.
The British empire, however, reached its apogee in the mid-19th century and when its empire began contracting, the bankers needed another country to serve their now insatiable ambitions and need for profits. America was their country of choice.
In 1913, the creation of the Federal Reserve Bank in America afforded international bankers the very same opportunities conditional upon America fulfilling two essential prerequisites: (1) maintain the convertibility of paper money to gold or silver, and (2) maintain the critical balance between credit and debt. America failed to do either.
America maintained the convertibility of paper money until 1971 when the US had overspent its gold reserves after WWII and could no longer convert US dollars to gold; and, as a result, the balance between credit and debt after 1971 also became heavily imbalanced in favor of debt when the US discovered it could easily trade its paper dollars for the world’s wealth without a concomitant transfer of gold.
America took England’s golden goose, spent the gold and now the days of central banking are numbered; and whether you know it or not, this crisis presents America with a priceless opportunity to free itself from the unconstitutional abrogation of the right to live, work and prosper free of the parasitic bankers who profit from the indebting of others.
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