Money Truths

Robert Clarkson 864-225-3061    email
Iowa Rock 3

A rock in rural Iowa off of Highway 25.
Artist: Ray "Bubba" Sorensen.

Table of Contents

As President John Adams said, "All the perplexities, confusion and distress (Ed. note - crime, poverty, substance abuse, family disintegration, government immorality and dishonesty, etc.) in America arise, not from defects in the Constitution or confederation, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit and circulation." This is because nearly every part of our lives revolves around money in some way. If we clear up the money problem, all sorts of seemingly unrelated problems will simply vanish!

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

"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the Government at defiance. The issuing power should be taken from the banks and restored to the people to whom it properly belongs." - President Thomas Jefferson.

"The youth who can solve the money question will do more for the world than all the professional soldiers of history." - Henry Ford Sr.

"Whoever controls the volume of money in any country is absolute master of all industry and commerce." - President James A. Garfield

"I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its constitution; I mean an additional article, taking from the federal government the power to borrow money." - Thomas Jefferson

"If (As the supreme court had recently inferred) Congress has the right under the Constitution to issue paper money, it was given to them to be used by themselves, not to be delegated to individuals or corporations." - President Andrew Jackson

"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." - Major L.B.Angus

From the testimony of Marriner Eccles, Chairman of the Federal Reserve Board, before the House Banking and Currency Committee, Sept. 30, 1941:

Congressman Patman: "Mr. Eccles, how did you get the money to buy those two billions of government securities?"

Eccles: "We created it."

Patman: "Out of what?"

Eccles: "Out of the right to issue credit money."

"If two parties, instead of being a bank and an individual, were an individual and an individual, they could not inflate the circulating medium by a loan transaction, for the simple reason that the lender could not lend what he didn't have, as banks can do.....Only commercial banks and trust companies can lend money that they manufacture by lending it."
- Professor Irving Fisher, Yale University, in his book "100% Money"

"I had never thought the Federal Reserve Bank System would prove such a failure. The country is in a state of irretrievable bankruptcy."
- Senator Carter Glass, June 7, 1938

"The Federal Reserve (privately owned banks) are
one of the most corrupt institutions the world has
ever seen." - Senator Louis T. McFadden (for 22 years Chairman of the U.S. Banking and currency Commission)

" The people can and will be furnished with a currency as safe as their own government. Money will cease to be master and become the servant of humanity. Democracy will rise superior to the money power."
- Abraham Lincon

"The entire banking movement, at all crucial
stages, was centralized in the hands of a few men who
for years were linked, ideologically and personally,
with one another." - Gabriel Kolko

"Every effort has been made by the Fed to conceal its power but the truth is, the Fed has usurped the government. It controls everything here and it controls all our foreign relations. It makes and breaks governments at will. "
- Congressman Louis T. McFadden, 1933, Chairman, Banking and Currency Committee

"The bold effort the present bank had made to control government (Second National Bank of the U.S.), the distress it has wantonly produced...are but premonitions of the fate that awaits the American people should they be deluded into a perpetuation of this institution or the establishment of another like it."President Andrew Jackson

"Permit me to issue and control the money of a nation, and I care not who makes its laws."
- Mayer Anselm Rothschild of the Rothschild banking family.


"Banking was conceived in iniquity and born in sin.....Bankers own the Earth. Take it away from them but leave them the power to create money, and, with the flick of a pen, they will create enough money to buy it back again.....Take this great power away from them and all great fortunes like mine will disappear (he was said to be the second richest man in Britain) and they ought to disappear, for then this would be a better and happier world to live in.....But, if you want to continue to be the slave of the bankers and pay the cost of your own slavery, then let the bankers continue to create money and control credit." - Sir Josiah Stamp, President of the Bank of England

"If all the bank loans were paid up, no one would have a bank deposit, and there would not be a dollar of currency or coin in circulation. This is a staggering thought. We are completely dependent on the commercial banks for our money. 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 monetary sys;tem. When one gets a complete grasp upon the picture, the tragic absurdity of our hopeless position is almost incredible - but there it is. It (the banking problem) is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it is widely understood and the defects remedied very soon."
- Robert H. Hemphill, Credit Manager of the Federal Reserve Bank of Atlanta

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