Bank of England
Nothing happens on Wall Street that is not known to the Bank of England, whose instructions are relayed through the Morgan Bank and then put into action through key brokerage houses, whose top executives are ultimately responsible for carrying out Committee directives.
They [Committee of the League of Nations - which England dominated] were also required to establish what was called the "gold exchange standard," a scheme whereby all countries based their currency, not on gold, but on the pound sterling. In that way, they could all inflate together without causing a disruptive flow of gold from one to the other, and England would act as the regulator and guarantor of the system. In other words, England used the power of her position within the League of Nations to establish the Bank of England as a master central bank for all the other central banks of Europe. It was the prototype for what the Cabal now is doing with [the] Federal Reserve and the World Bank within the framework of the United Nations.
The Bank of England was formed in 1694 to institutionalize fractional-reserve banking. As the world's first central bank, it introduced the concept of a partnership between bankers and politicians.
Then, the inevitable happened: There was a run on the bank, and the Bank of England could not produce the coin.
[...] The Cabal is a partnership, and each of the two groups is committed to protect each other, not out of loyalty, but out of mutual self interest. They know that, if one falls, so does the other. It is not surprising, therefore, that, when there was a run on the Bank of England, Parliament intervened. In May of 1696, just two years after the Bank was formed, a law was passed authorizing it to "suspend payment in specie." By force of law, the Bank was now exempted from having to honor its contract to return the gold.
In short, since there were not enough private savers willing to finance the deficit, Paterson and his group were graciously willing to buy government bonds, provided they could do so with newly-created out-of-thin-air bank notes carrying a raft of special privileges with them. This was a splendid deal for Paterson and company, and the government benefited from the flimflam of a seemingly legitimate bank’s financing… As soon as the Bank of England was chartered n 1694, King William himself and various members of Parliament rushed to become shareholders of the new money factory they had just created.
[...] the Cabal [political scientists and monetary scientists] met in Mercer's Chapel in London and hammered out a seven-point plan which would serve their mutual purposes:
- The government would grant a charter to the monetary scientists to form a bank;
- The bank would be given a monopoly to issue banknotes which would circulate as England's paper currency;
- The bank would create money out of nothing with only a fraction of its total currency backed by coin;
- The monetary scientists then would lend the government all the money it needed;
- The money created for government loans would be backed primarily by government I.O.U.s;
- Although this money was to be created out of nothing and would cost nothing to create, the government would pay "interest" on it at a rate of 8%;
- Government I.O.U.s would also be considered as "reserves" for creating additional loan money for private commerce. These loans also would earn interest. Thus, the monetary scientists would collect double interest on the same nothing.
In 1707, the recently created Bank of England was given the responsibility of managing this currency, but the bank found more profit in the circulation of its own banknotes, which were in the form of fractional money and which provided for the collection of interest, not the payment of it. Consequently, the government bills gradually passed out of use and were replaced by banknotes which, by the middle of the eighteenth century, became England's only paper money.
Because no revolutionary faction could obtain any financing after the Bank of England gained control of the money of England, there has never been another civil war or revolution in England.
The Bank of England has its own Freemasonry Lodge (Lodge No 263)...
In 1694, William signed the charter for the Bank of England and the Black Nobility, together with the reptile-Aryan aristocracy already well established in Britain, made the City of London-New Troy the centre of global finance, a position it still enjoys.