Banking

Quotes & References

But there are virtually no governments in the world today that have any savings.

— G. Edward Griffin; The Creature From Jekyll Island

[...] savings-and-loan associations, banks, and other federally regulated institutions are heavy contributors to the election campaigns of those who write the regulatory laws.

— G. Edward Griffin; The Creature From Jekyll Island

The president of the lending bank and the finance officer of the defaulting corporation or government will join together and approach Congress. They will explain that the borrower has exhausted his ability to service the loan and, without assistance from the federal government, there will be dire consequences for the American people. Not only will there be unemployment and hardship at home, there will be massive disruptions in the world markets. And, since we are now so dependent on those markets, our exports will drop, foreign capital will dry up, and we will suffer greatly. What is needed, they will say, is for Congress to allow him to continue to pay interest on the loan and to initiate new spending programs which will be so profitable he will soon be able to pay everyone back.

— G. Edward Griffin; The Creature From Jekyll Island

Rescheduling usually means a combination of a lower interest rate and a longer period for repayment. The effect is primarily cosmetic. It reduces the monthly payment but extends the period further into the future. This makes the current burden to the borrower a little easier to carry, but it also makes repyament of the capital even more unlikely. It postpones the day of reckoning but, in the meantime, you guessed it: The loan remains as an asset, and the interest payments continue.

— G. Edward Griffin; The Creature From Jekyll Island

It is important to remember that banks do not really want to have their loans repaid, except as evidence of the dependability of the borrower. They make a profit from interest on the loan, not repayment of the loan. If a loan is paid off, the bank merely has to find another borrower, and that can be an expensive nuisance. It is much better to have the existing borrower pay only the interest and never make payments on the loan itself. That process is called rolling over the debt. One of the reasons banks prefer to lend to governments is that they do not expect those loans ever to be repaid.

— G. Edward Griffin; The Creature From Jekyll Island

The end result of this policy is that the banks have little motive to be cautious and are protected against the effect of their own folly. The larger the loan, the better it is, because it will produce the greatest amount of profit with the least amount of effort. A single loan to a third-world country netting hundreds of millions of dollars in annual interest is just as easy to process - if not easier - than a loan for $50,000 to a local merchant on the shopping mall. If the interest is paid, it's gravy time. If the loan defaults, the federal government will "protect the public" and, through various mechanisms described shortly, will make sure that the banks continue to receive their interest.

— G. Edward Griffin; The Creature From Jekyll Island

When a borrower cannot repay and there are no assets which can be taken to compensate, the bank must write off that loan as a loss. However, since most of the money originally was created out of nothing and cost the bank nothing except bookkeeping overhead, there is little of tangible value that is actually lost. It is primarily a bookkeeping entry.

— G. Edward Griffin; The Creature From Jekyll Island

If all banks could be forced to issue loans in the same ratio to their reserves as other banks did, then, regardless of how small that ratio was, the amount of checks to be cleared between them would balance in the long run. No major currency drains would ever occur. The entire banking industry might collapse under such a system, but not individual banks - at least not those that were part of the cartel. All would walk the same distance from the edge, regardless of how close it was. Under such uniformity, no individual bank could be blamed for failure to meet its obligations. The blame could be shifted, instead, tot he "economy" or "government policy" or "interest rates" or "trade deficits" or the "exchange value of the dollar" or even the "capitalist system" itself.

— G. Edward Griffin; The Creature From Jekyll Island

GDP = private consumption + gross investment + government spending + (exports − imports)

— Wikipedia

Very few people understand the financial control of the money priesthood. They deny the existence of such an entity and yet they must admit nearly all the gold in the world coalesed intot he American reserves as faith in other countries and their financial policies failed.

— Henry Binkley Stein; The Axe Was God

Should the reader doubt such a thing as world financial control, let him examine the activities of Lombard Street. Montague Norman, former head of the Bank of England, made secret trips to America, no doubt regarding financial matters and later the British pound was "pegged". This is one of the greatest financial achievements in the world, for by that method the near worthless money of England was revived and made valuable. By that method it was possible for England to import billions of dollars worth of goods which she would have been unable to purchase were her money permitted to seek its natural level of value. So far as the writer is aware, no other country was ever granted such a privilege.

— Henry Binkley Stein; The Axe Was God

While several writers have spoken of a division of powers between the rulers of money and those of religion, there is no historical evidence to the knowledge of the writer. All that is evident is that money and religion went into the dark ages together and came out separate. Rome held control in religion, London ruled money. The church even forbade interest charging. It is the belief of the author that Christianity never converted money. In all the Religious wars of the middle ages, the crusades, etc., Paganism held the money.

— Henry Binkley Stein; The Axe Was God

Banking houses today simulate pagan temples in architecture as well as personnel. In early times the temple combined wealth and religion, the temples were the banks, and such a temple as formerly stood on the site of St. Paul's Cathedral was said to have been the Phoenician Temple and Banking House.

— Henry Binkley Stein; The Axe Was God

I see in the near future a crisis approaching that unnerves me, and causes me to tremble for the safety of my country. Corporations have been enthroned, an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in a few hands and the republic is destroyed.

— Abraham Lincoln

If Congress has the right under the constitution to issue paper money, it was given them to be used by themselves, not to be delegated to individuals or corporations.

— Andrew Jackson

History records that the Money Changers have used every form of abuse, intrigue, deceit and violent means possible to maintain their control over governments by controlling money and its issuance.

— James Madison

The modern theory of the perpetuation of debt has drenched the earth with blood, and crushed its inhabitants under burdens ever accumulating. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks...will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.

— Thomas Jefferson

Whoever controls the volume of money in our country is absolute master of all industry and commerce...when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.

— President James Garfield; a couple of weeks before he was assassinated on July 2, 1881

The modern banking system manufacturers money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. 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. 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 slaves to the bankers, and pay the cost of your own slavery, then let bankers continue to create money, and control credit.

— Sir John Stamp; former governor of the Bank of England

...International Liberals, operating through their International Banking Houses, particularly the House of Rothschild, have financed both sides of every war and revolution since 1776.

— Myron Fagan, 1960; Illuminati and CFR Lecture

We are supposed to believe that the International Bankers of today, like the moneychangers of Christ's day, are only the fools or agents of the great conspiracy, but actually, they are the masterminds behind all of it.

— Myron Fagan, 1960; Illuminati and CFR Lecture

Most of the ‘money’ in circulation is not physical money, cash and coins. It is represented as figures passing from one computer account to another electronically via money transfers, credit cards and cheque books. The more money, electronic or otherwise, that is in circulation, the more economic activity can take place and therefore the more products are bought and sold, the more income people have, and the more jobs are available.

But a constant theme of the reptile-Aryan financial coup has been to create a boom by making lots of loans and then pull the plug. Overpaid economists and economic correspondents, most of whom have no idea what is going on, will tell you that boom and bust is part of some natural ‘economic cycle’. What claptrap. It is systematic manipulation by the Brotherhood to steal the real wealth of the world. During a boom many people get themselves into even more debt. The vibrant economic activity means that businesses borrow more for new technology to increase production to meet demand.

People borrow more to buy a bigger house and a new, more expensive car, because they are so confident about their economic future. Then, at the most opportune moment, the major bankers, coordinated by the secret society networks, raise interest rates to suppress the demand for loans and they begin to call in loans already outstanding. They ensure they make far fewer loans than before. This has the affect of taking units of exchange (money in its various forms) out of circulation. This suppresses demand for products and leads to fewer jobs because there is not enough money in circulation to generate the necessary economic activity. So people and businesses can no longer earn enough to repay their loans and they go bankrupt.

The banks then take over their real wealth, their business, home, land, car and possessions in return for non-repayment of a loan that was never more than figures typed on a screen. This has been going on in cycles over thousands of years, especially the last few centuries, and the real wealth of the world has been sucked out of the population and into the hands of those who control the banking system - the reptilian bloodlines. The same applies to countries. Instead of creating their own interest free money, governments borrow it from the private banking cartel and pay back both the interest and the capital by taxation of the people. Fantastic amounts of the money you pay in taxes go straight to the private banks to pay back loans which the governments could create themselves interest-free!! Why don’t they do it? Because the Brotherhood controls the governments as much as they control the banks.

— David Icke; The Biggest Secret

It is based on creating money that doesn’t exist and lending it to people and businesses in return for interest...Money in the bank is a myth, another confidence trick. When you go into a bank and ask for a loan, the bank does not print a single new note nor mint a single new coin. It merely types the amount of the loan into your account...More than that, because money is not brought into circulation by governments, but by private banks making loans to customers, the banks control how much money is in circulation. The more loans they choose to make, the more money is in circulation. What is the difference between an economic boom (prosperity) and an economic depression (poverty)? One thing only: the amount of money in circulation. That’s all. And, through this system, the private banks, controlled by the same people, decide how much money will be in circulation. They can create booms and busts at will. The same with the stock-markets where these guys are moving trillions of dollars a day around the financial and banking markets, so deciding if they go up or down, soar or crash. Stock-market crashes don’t just happen, they are made to happen.

— David Icke; The Biggest Secret