The Secret Of Oz Page #6

Standing directly in the way was the newly elected president Abraham Lincoln.

Lincoln evaded assassins in Baltimore in February of 1861 on his way to his inauguration in Washington on March 4.

The very next month the first shots were fired at Forth Sumter, South Carolina after seven southern states seceded from the Union.

Soon thereafter France invaded mexico and stationed troops along the southern border of the US; Great Britain moved 11.000 troops into Canada and positioned them along America's northern border.

The two long-time european enemies were ready to fight over the scraps that their central bankers were about to make of the American experiment in freedom.

Lincoln was in a classic double bind: no matter what he did he was being forced into a war by the hidden hands behind the financial curtain.

He agonized over the fate of the Union, sensing it was only through the strength of union that the financial power-houses of Europe could be held at bay.

In 1861 Lincoln went to New York to apply for the necessary war loans from what he hoped would pay to american bankers.

But the bankers saw him coming and knew that the plan was to split the country in two, and so there was a high probability that Lincoln's government would default on any loans.

Consequently they demanded an interest rate of as much as 36%. Lincoln returned to Washington, depressed.

Then Lincoln came up with the most brilliant idea of his presidency, he decided to return to America's colonial monetary roots: have the government issued their own money.

In a letter to his friend Colonel (Edmund) "Dick" Taylor of Chicago Lincoln explained his plan to finance the war:

"Issue treasury notes bearing no interest, printed on the best banking paper ... [it will give] to the people of this Republic the greatest blessing they ever had - their own paper to pay off their own debts."

So that is exactly what lincoln did: from 1862 to 1865 he printed 450 million dollars of the new bills which he called "US notes".

To distinguish them from debt-based money he had them printed in green ink on the back with a red seal on the front - that's why the notes were called greenbacks.

Since congress had declared greenbacks to be legal tender for all debts, Lincoln was able to pay his troops and buy their supplies with this new money, all created at no interest to the federal government.

As MIT professor Dr. Davis Rich Dewey would write 40 years later in his "Financial History of The United States":

"The underlying idea in the greenback philosophy is that the issue of currency is a function of the government, a sovereign right which ought not to be delegated to corporations."

By now Lincoln realized who was really pulling the strings and what was at stake for the American people.

Lincoln understood the matter better than even Jackson apparently had.

This is how he explained his monetary views according to some sources:

"The government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the Government and the buying power of consumers...

The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government's greatest creative opportunity...

By the adoption of these principles the taxpayers will be saved immense sums of interest. The financing of all public enterprises will become matters of practical administration. Money will cease to be master and become the servant of humanity."

Meanwhile in Britain a truly incredible editorial in the London Times explained the Bank of England's attitude towards Lincoln's greenbacks:

"If this mischievous financial policy, which has its origin in North america, shall become [permanent], then the Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America."

On April 14 1865, forty-one days after his second inauguration and five days after the end of the civil war Lincoln was shot by John Wilkes Booth at Ford Theatre.

The chancellor of Germany Otto Von Bismark lamented the death of Abraham Lincoln:

"The death of Lincoln was a disaster for [the world]. There was no man great enough to wear his boots. I fear that foreign bankers with their tortuous tricks will entirely control the exuberant riches of America and use it systematically to corrupt modern civilization. They will not hesitate to plunge the whole [world] into wars and chaos in order that the earth should become their inheritance."

After the death of President Lincoln the bankers began to re-assert their control over America's money.

This was no easy task: Lincoln's greenbacks, just like Rome's plentiful debt-free coins and England's debt-free tally-sticks, were generally popular and their existence had let the genie out of the bottle.

The public was becoming accustomed to debt-free money - popular songs saying the greenbacks praises.

On april 12 1866 Congress passed the contraction act, authorizing the secretary of the treasury to begin to retire the greenbacks in circulation and to contract the money supply.

Authors Ted Thorne and Richard Warner explain the results of the money contraction in their book on the subject "The truth in money book":

"The hard times which occurred after the Civil War could have been avoided if the Greenback legislation had continued as President Lincoln had intended. "Instead there were a series of 'money panics' - what we call ' recessions' - which put pressure on Congress to enact legislation to place the banking system under centralized control."

In 1866 there was 1.8 billion dollars in currency in circulation in the United States, about $50.46 per capita. In 1867 alone, 500 million dollars was removed from the US money supply.

Ten years later, in 1876, America's money supply was reduced to only 600 million dollars - in other words, 2/3 of america's money had been called in by the bankers. Incredibly only $14.60 per capita remained in circulation.

What's so important about how money was withdrawn from the U.S. money supply?

Because this is the real cause of depressions! Deliberate manipulation of the money supply by big bankers to get what they want politically!

The very thing King Henry was trying to put a stop to when he created the tally-sticks in 1100 A.D.

What were the bankers after?

Again, a return to their beloved privately-owned central bank that Jackson had killed, something they were not able to achieve until the passage of the Federal Reserve Act in 1913.

But it gets worse!

Ten years later the money supply had been further reduced to only 400 million dollars even though the population had boomed.

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