NOTE FROM THE EDITOR: This is the sixth part of a series of the article, “Billions for the bankers – debt for the people.” The first part started with history of the United States national debt in the beginning of 1900. This second of this series of several parts, will show you how the control of money has played a key role into the enslaving North Americans by depraving them of owning nothing, while the bankers own everything. The third part details the events from the Depression of the 1930s to later days. The fifth part deals with Manipulating Stocks for Fun and Profit, The Interest Amount is Never Created and The Tyranny of Compount Interest. El Reportero is proud to publish this article, written by Pastor Sheldon Emry for learning purposes, of the history of money in the United States.
Small loans do the same thing
by Pastor Sheldon Emry
If you have not quite grasped the impact of the above, let us consider an auto loan for 5 years at 9.5 percent interest. Step 1: Citizen borrows $25,000 and pays it into circulation (it goes to the dealer, factory, miner, etc.) and signs a note agreeing to pay the Bankers a total of $31,503 over 5 years. Step 2: Citizen pays $525.05 per month of his earnings to the Banker. In five years, he will remove from circulation $6,503 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.
Checking Up On Cash
In the millions of transactions made each year like those just discussed, little actual currency changes hands, nor is it necessary that it do so.
About 95 percent of all “cash” transactions in the U.S. are executed by check. Consider also that banks must only hold 10 percent of their deposits on site in cash at any given time. This means 90 percent of all deposits, though they may actually be held by the ban, are not present in the form of actual cash currency.
That leaves the banker relatively safe to “create” 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 of overhead for each transaction. It is “check kiting” on an enormous scale.
The profits increase rapidly, year after year.
Our Own Debt is Spiraling into Infinity
In 1910 the U. S. Federal debt was only $1 billion, or $12.40 per citizen. State and local debts were practically non-existent.
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.
In 1998 the Federal debt passed $5.5 trillion, or $20,403.90 per man, woman and child and is growing exponentially.
State and local debts are increasing as fast Federal debts. However, they are too cunning to take the title to everything at once. They instead leave us 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 debt-money system as certainly as if they had marched in with an uniformed army.
