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. . . that I should bear witness unto the truth. John 18:33 // David E. Robinson, Publisher
. . . if the trumpet give an uncertain sound, who shall prepare himself for battle? I Corinthians 14:8
No.104
05/22/12
Maine Republic Free State News, 3 Linnell Circle, Brunswick, Maine 04011 http://maine-patriot.com
the support of this Superpower. Upper-class bankers, on the other hand, know very well that financial CREDIT, which makes up the bulk of modern money today, is created and cancelled in the ledgers of the banks. A distinguished British banker, the Right Honorable Reginald McKenna, addressed an annual general meeting of the shareholders of his bank, on January 25, 1924, and said (quoted from his book entitled, Post-War Banking): I am afraid that the ordinary citizen will not like to be told that the banks can, and do, create and destroy money. The amount of finance in existence varies only with the action of the banks in increasing or decreasing deposits and bank purchases. We know how this is effected. Every loan, overdraft, or bank purchase creates a deposit, and every repayment of a loan,
overdraft, or bank sale destroys a deposit. Having also been the Minister of Finance, McKenna knew very well where the bigger of the two powers the Superpower of the banks, and the sovereign power of governments resided. He was frank enough to make the following statement; which is very uncommon among bankers of his level: They (the banks) control the CREDIT of the nation, direct the policies of governments, and keep in the palm of their hands the destinies of the peoples [of the world]. Those who hold and control money, are able also to govern interest and CREDIT, and determine its allotment, for that reason supplying, so to speak, lifeblood to the economic body, grasping in their hands the very soul of production.