Wizard of Oz — The American Banking Fight

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”:

http://www.youtube.com/watch?v…

Watch it and weep — or maybe be inspired to think that there might be a true vehicle for change.

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    • Edger on October 31, 2010 at 1:43 pm

    I watched the first half hour this morning – and will watch the rest in bits over the next few days. It might be interesting for people to know that it is recent, and  won best documentary of 2010 at the Beloit International Film Festival, and is at film festivals around the world.

    It reminds me of the third segment of Zeitgeist: What do Christianity, 911 and The Federal Reserve all have in common?

    If you never seen it, here’s a short excerpt from Zeitgeist:

    JP Morgan, publicly considered a financial luminary of the time, exploited his mass influence by publishing rumors that a prominent bank in New York was insolvent or bankrupt. Morgan knew this would cause mass hysteria, which would affect other banks as well. And it did.

    The public, in fear of losing their deposit, immediately began mass withdrawals. Consequently the banks were forced to call in the loans, causing recipients to sell their property, and thus a spiral of repossessions, bankruptcies and turmoil emerged.

    Putting the pieces together a few years later, Frederik Allen of Life Magazine wrote, “The Morgan interests took advantage to precipitate the panic… guiding it shrewdly as it progressed”.

    Unaware of the fraud, the panic of 1907 led to a congressional investigation headed by Senator Nelson Aldrich, who had intimate ties to the banking cartels and later became part of the Rockefeller family through marriage.

    The commission, led by Aldrich, recommended a central bank should be implemented, so panics like 1907 could never happen again.

    This was the spark the international bankers needed to initiate their plan.

    In 1910 a secret meeting was held at a JP Morgan estate on Jekyll Island, off the coast of Georgia. It was there that a central banking bill called the Federal Reserve Act was written. This legislation was written by bankers, not lawmakers. This meeting was so secretive, so concealed from government and public knowledge, that the ten or so figures who attended were told they could only use their first names in addressing each other. After this bill was constructed, it was then handed over to their political front man Senator Nelson Aldrich who personally planned this, and in 1913 with heavy political sponsorship by the bankers Woodrow Wilson became President having already agreed to sign the Federal Reserve Act in exchange for campaign support.

    And two days before Christmas when most of Congress was at home with their families, the Federal Reserve Act was voted in and Wilson in turn made it law.

    Years later Wilson wrote in regret: “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by it’s system of credit. We are no longer a government by free opinion, no longer a government by conviction and the  vote of the majority, but a government by the opinion and duress of a small group of dominant men.”

  1. This is the lessen of Still’s two documentaries.  What is far more important is whether the government or the private sector controls the money supply, i.e. the amount of money in circulation.

    If there is only enough money in circulation for everyone to have a hundred dollars, it is irrelevant whether the economic system is capitalistic or socialistic.  Everybody is poor.  Conversely, if there is enough money in circulation for everyone to reasonably acquire a million dollars, everyone lives comfortable in either a capitalistic or socialistic system.

    This point is probably better made in Still’s documentary, The Money Masters, where he quotes one of the Rothschield’s who famously said something along the lines of: “I don’t care what the economic system is as long as the private banks get to issue the currency and control the supply of it.”

    The critical question is will money supply be controlled by private banks who can make it scarce or plentiful whenever they want, or will governments control the supply.  When the supply of money is allowed to go through rapid increases and then rapid decreases, we have economic bubbles followed by depressions.  When expansion and contraction of the money supply is done by design, as has been the history with private banking currency control, the banks let the people acquire property on credit, then reduce the money supply, and then announce that everyone’s loans are due and payable when there is no money in the system for people to pay with.  Then the banks acquire the people’s property for pennies on the dollar.

    Governments do not have the incentive that private bankers do to create boom and bust cycles, especially if the government is “we the people.”

    • InExile on October 31, 2010 at 6:36 pm

    I watched it a month back on-line, and was so impressed with it that I bought the DVD.

  2. Another very good set of videos to watch is from Damon Vrabel of csper.org:

    http://www.youtube.com/user/co

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