The Secret Of Oz Page #5

So if there was 1 hundred million dollars worth of money in the economy there would be 1 hundred million dollars worth of national debt. Debt that the citizens and their children would have to pay interest on by taxation.

And so that is today, the national debt is roughly the same as the national money supply. As secretary of state, Jefferson watched the borrowing with sadness and frustration, unable to stop it:

"I wish it were possible to obtain a single amendment to our Constitution, taking from the federal government the power of borrowing."

Although jefferson served two terms as president from 1801 to 1809 nothing was done until the bank's charter came up for renewal in 1811.

The press openly attacked the bank calling it a great swindle.

Some writers have claimed that the head of the Bank of England warned that the United states would find itself involved in a most disastrous war if the bank's charter would not be renewed.

After another contentious debate the Banks renewal bill was defeated by a single vote in congress, within 5 months the was of 1812 was on.

In 1813 jefferson wrote to a son in law John Hips: "Although we have so foolishly allowed the [power of issuing our own debt-free money] to be filched from us by private individuals, I think we may recover it. The states should be asked to transfer the right of issuing the paper money to Congress, in perpetuity."

Jefferson had it exactly right, Congress and only Congress should have the right to issue America's paper money and at no interest to no one.

In 1814 the British successfully attacked Washington and burned the Whitehouse and the Capitol.

In 1815, in the last battle of the war, general Andrew Jackson successfully defeated a British attack on New Orleans.

After the conclusion of the war of 1812, the very next year, the bankers were back trying to get Congress to reinstate their precious privately-owned central bank. Jefferson lashed out in a letter to the then treasury secretary Gallatim:

"The treasury, lacking confidence in the country, delivered itself bound hand and foot to bold and bankrupt bankers pretending to have money, whom it could have crushed at any moment."

But despite jefferson protests in 1816 Congress passed a bill giving another 20-years charter to a new privately-owned central bank: the 2nd Bank of the United States.

Once again the english debt money-system was back in control of America. It was almost like the revolution that never happened. But then the bankers ran head long into "Old Hickory" Andrew Jackson.

By 1828 opponents of the bank nominated senator Andrew Jackson of Tennessee, the hero of the final battle of the was of 1812 to run for president.

The banks poured millions into Jackson's defeat but to no avail: the american people were fed up with the privately-owned central bank and won it out. Jackson was swept into office.

In 1832 with Jackson's re-election approaching the bank tried to have their charter renewed early in the hopes that Jackson wouldn't want the controversy of a fight with bankers just before the election.

They were wrong:
although congress passed the renewal Bill, Jackson vetoed it. His veto message drew a direct line between the bank and its masters and the bank of England:

"It's easy to conceive that great evils to our country and its institutions might flow from such a concentration of power in the hands of a few [who are] irresponsible to the people. Controlling our currency, receiving our public moneys, and holding thousands of our citizens in dependence would be more formidable and dangerous than a military power of the enemy."

"Nothing but widespread suffering will produce any effect on Congress... Our only safety is in pursuing a steady course of firm [monetary] restriction - and I have no doubt that such a course will ultimately lead to a restoration of the currency and re-charter of the Bank"

Nicholas Biddle was head of the 2nd Bank of the United States. He was brazen with the financial power he wheeled it over the nation. He even threatened to cause a depression if Jackson veto were not overturned:

"Nothing but widespread suffering will produce any effect on Congress... Our only safety is in pursuing a steady course of firm [monetary] restriction - and I have no doubt that such a course will ultimately lead to a restoration of the currency and re-charter of the Bank"

Biddle made good on his threat: America was quickly plunged into a deep depression; properties were foreclosed on for pennies on the dollar. Jackson responded forcefully.

"You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out"

Eventually the nation's newspapers sided with Jackson and the Bank was not re-chartered.

Jackson then set about paying the national debt, a debt caused by the government borrowing the nation's money supply into existence.

Jackson was the only president who paid off the national debt.

A few weeks later an assassin tried to shoot president Jackson. He stuck two pistols in the stomach but both misfired. Jackson solemnly warned the nation about any future attempts to establish another privately owned central bank:

"The bold effort the present bank had made to control the government the distress it had wantonly produced are but premonitions of the fate that awaits the American people should they be deluded into a perpetuation of this institution or the establishment of another like it"

Jackson got us out of debt, but 25 years later Abraham Lincoln would do even more: return to government-issued debt-free money. He called them green banks: the inspiration for the Emerald City of Oz.

The bankers were still angry about Jackson killing the 2nd Bank of the United States 25 years earlier.

Since then America's economy had boomed, a bad example for the rest of the world! America had to be stopped.

So they devised a plan to split the rich new nation, divide and conquer by war.

As chacellor of Germany Otto Von Bismark put it in 1876:

"I know of absolute certainty that the division of the United States into two federations of equal force was decided long before the Civil War by the high financial powers of Europe...

These bankers were afraid that the United States, if they remained as one block and were to develop as one nation, would attain economic and financial independence which would upset the domination of Europe over the world."

President Jackson saw this coming as well. In his farewell address back on March 4 1837 he warned the nations:

"Have designs already been formed to sever the Union? This great and glorious Republic would soon be broken into a multitude of petty States, without commerce, without credit, loaded with taxes to pay armies, trampled upon by the nations of Europe."

The bankers figured that no matter what the outcome, a war between North and South would leave America so financially strapped that the entire western emisphere would be once again open to colonization.

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