I just saw an excellent documentary about the American Banking System and the history of American Banking, which I highly recommend. Many historians believe that the true reason for the Revolutionary War was the control put on the colonies by the English banking system because the Colonial system of creating currency (money) was such a threat to the British banking system. The Colonial currency that was highly successful and threatening to the British was issued by the colonial governments while in the English Banking system the currency of England was issued by the private banks. The English private banking system was highly threatened by the colonial governments’ successes in issuing governmental currency and was afraid it would make the colonies so prosperous that other governments would begin to issue their own currencies instead of private banks. Because of the English private banking system’s financial control over the English government, it forced the English government to eradicate the Continental governmental currencies. The prosperous colonies went into a severe depression within a year as a result and war ensued shortly thereafter.
Most of us have no clue that the money we have, save the coins in our pocket, are not governmental issue; almost all of the US currency, is the private issue of the banks. (The Federal Reserve is private, not part of the US government). (Look at a dollar bill — it says it is a Federal Reserve Note). Both the government and everyone of us pay interest on the currency issued by the banks. In contrast, currency issued by a government does not bear interest and the government never is in debt. If the United States government issued its own currency it would have no debt at all.
This documentary is a story about how the United States lost its ability to print money and gave the ability to issue its currency to the private banks, and in the process, incurred the outrageous debt we now have to the private banks.
Interestingly, the original Wizard of Oz is an allegory about the US’s attempts to regain/retain its ability to issue its own currency and its fight with the banking establishment’s attempt to retain/regain the right to issue the currency. The yellow brick road symbolizes the road to the gold standard, something private banks favor, because gold is scarce and favored by the wealthy who own and hoard it.
A gold currency, because of its scarcity, is easy to manipulate, and there is never enough to go around. The documentary uses the original story of the Wizard of OZ to explain the history of the US government’s fight with the private bankers over who will issue the US currency.
As an aside, one of the interviewees in this documentary is Ellen Brown. I have been to, and blogged on, her excellent website, webofdebt.com, many times and have shared personal emails with her on a number of occasions. She was the person most instrumental in making me decide to bring my suit to remove the cloud on my title against my mortgage company. I used a lot of her research to do it and got her ideas and thoughts before I filed. We keep in touch about the status of my case.
Ellen advocates, as well as does the author of this documentary, Bill Still, (who also did an excellent video years ago called The Money Masters) that the United States take back the right to print its own currency which we ceded over to the banks in the Federal Reserve Act of 1913, a year I call the year of infamy. In that year we also enacted the amendments to the constitution that allowed for income tax and public voting for senators (before 1913 they were chosen by the legislatures of the states), all of which greatly centralized the federal government and put the grip of the money masters around the throat of America.
And now for the video, titled “The Secret of OZ”:
Watch it and weep — or maybe be inspired to think that there might be a true vehicle for change.