The True Reason behind the 40-Hour Work Week and Why Most People Are Economic Slaves

The True Reason behind the 40-Hour Work Week and Why Most People Are Economic Slaves

by EV

Economic slavery, or wage slavery, refers to one’s total and immediate dependence on wages to survive. Although people throughout history have had to work to get by, we now live in a culture where we are led to believe we have economic freedom, when unbeknownst to most citizens, we are in fact bound in servitude. We automatically accept a 40-hour workweek with meagre hourly pay as normal, even though many work overtime and still struggle to survive.

There are also those who make enough to live comfortably but are unable to request less hours—you either work 40 hours a week, or you don’t get to work at all. We submit when told what to wear, when we have to arrive and depart, when we’re allowed to eat, and even when we’re allowed to use the restroom. How is it we have come to allow this?

The 40-hour-work week came about during the Industrial Revolution in Britain when at one point workers were putting in 10 to 16 hour days and began to protest. Working situations for Americans began to worsen as well, and by 1836, labor movement publications were also calling for a 40-hour workweek. Citizens in both situations were so overworked, an eight-hour day was easily accepted. This system is unnecessary now, if it ever was, but we still accept it due to the effects of our capitalist society.

There are many contributing factors that have led to our current economic system and continued acceptance of the 40-hour workweek, three major factors being consumerism, inflation, and debt. First, it’s important to understand exactly what inflation is, how it works, and how it leads to debt.

 

Inflation:

 

To put inflation simply, let’s say the U.S. government needs money for whatever war they’ve decided to wage this year. They ask the Federal Reserve for a loan, and the Fed agrees to buy bonds (sort of like IOU’s) from the government in the amount of the requested loan. The U.S. government then prints up a bunch of pieces of paper that say “Treasury Bond” while at the same time, the Federal Reserve prints up a bunch of little pieces of paper that we know as money. A trade is made between the government and the Federal Reserve—the bonds for the money—and the U.S. government directly deposits this newly printed money in a different bank, which in turn, takes its cut in fees and interest. Voilà, money has been created out of thin air.

Although this process takes place electronically now (only 3% of money is in physical form, the other 97% exists in computers) the problem either way is that it depletes the worth of the dollar. At one point in time, currency was worth gold. That was what gave money its value, but now the value of money is trusted to the Federal Reserve who has no moral objections to reducing that value by printing more money (basically legal counterfeit). For the cost of printing, the Federal Reserve creates money that the U.S. government has promised to pay back—money that didn’t even exist in the first place.

It works like this with private bank loans to citizens as well. Each time a transaction of this sort happens, it reduces the value of actual currency, and thus we have inflation. One dollar in 1913 required $21.60 in 2007 to match its value. That’s a 96% devaluation since the Federal Reserve came into existence. How does this lead to economic slavery? By the debt inflation has caused.

Debt:

 

Since money is created through loans, that means it’s created through debt. Money equals debt, and debt equals money. So the more money there is, the more debt there is, and vice versa. What this means is, if somehow the government and every citizen in debt were able to pay back those loans, there would not be a single dollar in circulation.

Interest plays an important role in this equation as well. When you take out a loan and the bank gives you money that technically doesn’t exist, they also expect you to pay additional interest with it. If the money loaned is coming from the Federal Reserve, where is the money for the interest supposed to come from?

The answer is nowhere.

That means no matter what, the nation will never be able to get out of debt, and that is exactly the purpose of this meticulously orchestrated system. Like a toss of the coin, somebody somewhere will always go bankrupt to make up for the interest that is being paid with even more debt. And so, as the nation sinks further in the hole while the cost of living increases, surviving in the economy becomes more difficult. This desperation to survive, coupled with the fact that we were born into this system, is ultimately what causes us to accept the 40-hour workweek without a moment’s thought.

So now we understand the element that forces us to accept our predicament, but how does the 40-hour workweek benefit banks and corporations? After all, studies show that the average office worker gets less than three hours worth of work done in an 8-hour work shift, and according to reports, US corporate profits are soaring while wages are declining. Bureau of Labor Statistics figures show that productivity has increased at a 2.3 percent annual rate in the third quarter, while hourly pay only increased 1.3 percent in the third quarter, and this has been the basic pattern for some time—it adds up after a while. Corporate profits are at their highest level in at least 85 years, so why aren’t we being paid more, working less, and providing additional jobs to those who need them? This brings us to consumerism.

 

Consumerism:

 

Consumerism is defined by the Merriam-Webster dictionary as: the belief that it is good for people to spend a lot of money on goods and services. At one point in time this belief may have rang true, but with the current capitalist system and cost of living, consumerism has begun to have negative effects on our society, especially when you take inflation and the increasing debt into consideration. The more we buy, the more we feed the corporations and banks who are in turn pushing us into economic slavery.

Since the 1800’s and the Industrial Revolution, “consumers” have been spending increasing amounts of money on frivolous purchases. This over-indulgence has been nurtured and fed by the corporations using commercialism (the attitude or actions of people who are influenced too strongly by the desire to earn money or buy goods rather than by other values—Merriam-Webster) as a tool. Psychological insinuations have been planted into society’s subconscious for generations through consumer advertisements which have ultimately led to certain habits and beliefs. Some examples are:

“Buy now pay later” – The General Motors Acceptance Corporation (GMAC) started this mindset when it was established in 1919 and began to promote giving loans to people who bought cars. Americans eventually started to use the new credit plans on just about everything.

“Keeping up with the Joneses” – Commonly thought to be the beginning of the American consumer culture, this mindset began when GM introduced the yearly automobile model change. People wanted to have the latest model each year, and soon this idea spread out. Most of us, whether we want to admit it or not, are familiar with this mentality. Rather than keeping our old toaster that works perfectly fine, we want the new retro-style stainless steel model because it looks swanky sitting on our kitchen counter.

“1929-1945 Depression and War” – Soon after The Depression came WWII, during which advertisers promised products to be available when there was peace. As a result, customers (consumers) were eager to take up spending immediately after the war was over.

“Peace” – When the war ended, consumer optimism and economic growth accompanied victory.

“Charge it!” – Credit cards were first promoted through the Diners Club—a charge card company that services affluent and well-travelled individuals from around the world. Other companies followed suit and started advertising credit cards as a “time-saving device” rather than a way to spend money that wasn’t actually there.

“Bigger is better” – During the 1970’s, companies began to send credit cards out by the masses to those who had not requested them. While Americans had already been developing the idea that “bigger is better”, the credit card boom ended up exploiting that idea. Now people had the means to obtain extravagant items they couldn’t before, even though it put many in colossal debt. Congress soon had to regulate the credit card boom, and ban sending cards to those who never requested them in the first place.

Companies in all kinds of industries hold a huge stake in the public’s penchant to be careless with their money, and they encourage this habit of casual or non-essential spending when they can. For example, in the documentary The Corporation, a marketing psychologist discussed a method she used to increase sales that involved encouraging children to nag their parents to buy toys. Studies showed that 20% to 40% of purchases of this sort resulted after children nagged their parents.

“You can manipulate consumers into wanting, and therefore buying, your products. It’s a game.”

-      Lucy Hughes, co-creator of “The Nag Factor”.

The 40-hour workweek is the ultimate tool for corporations to sustain this culture of over-indulgent spending. Under our current working conditions, people are forced to build a life in the evenings and their days-off. We find ourselves more inclined to spend heavily on entertainment and conveniences because we rarely have any free time. When we do have time to ourselves, it’s usually fleeting, and we eventually find ourselves neglecting those activities which are free—walking, exercising, reading, meditating, sports, hobbies, etc.—because they take too much time.

While having extra money comes at the sacrifice of personal time for some, for others they not only are robbed of their personal freedom, but they struggle to make ends meet on top of it. The “perfect” consumer works full-time, earns a fair amount of money, indulges during their free time, and somehow just makes it by each month. However, even those who don’t earn fair wages sometimes find themselves wasting small increments of money on unnecessary items for the wrong reasons—a cup of Starbucks here, a McDonald’s cheeseburger there, and those really cool fuzzy dice hanging from the rear-view of your 1993 Honda Civic.

Any way you look at it, we have become an unhappy, mindless, over-worked society. We buy silly items for a few moments of happiness before getting bored and moving on. We feel a need to keep up with fads, or to fulfill our childhood vision of what adulthood would be like. We hide our insecurities, avoid issues, and replace psychological needs with material items. By keeping society’s free time scarce, people will pay more for convenience, gratification, and any other relief they can buy.

Keeping America unhealthy has become extremely profitable for big-business, and so far their efforts have paid-off beautifully. Our society has been transformed into an industry fueled by economic slavery, and consumerism is a key factor in this corrupt system—one the people have direct influence over. Consumers are the only ones who can stop consuming.

 

---

Sources:

Cain, David. True Activist. Dec 7, 2014. (http://www.trueactivist.com/your-lifestyle-has-already-been-designed-the-real-reason-for-the-forty-hour-workweek/)
Ethos. Dir. Pete McGrain. Cinema Libre Studio, 2011. Documentary
Graph supplied by: (http://economagic.com/)
Jones, Shannon. World Socialist Web Site. Dec 4, 2014. (http://www.wsws.org/en/articles/2014/12/04/wage-d04.html)
Mt. Holyoke College Research Study. American Consumerism and the Global Environment. 2009. (http://www.mtholyoke.edu/~kelle20m/classweb/wp/index.html)
Zeitgeist: Addendum. Dir. Peter Joseph. GMP LLC, 2008. Documentary.



From We Are Anonymous @ http://anonhq.com/true-reason-behind-40-hour-work-week-economic-slaves/


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Billions for Bankers: Debts for the people

Billions for Bankers

Debts for the People

by Sheldon Emry

 

"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." - Thomas Jefferson

Money is "Created", Not Grown or Built.

Economists use the term "create" when speaking of the process by which money comes into existence. "Creation" means making something which did not exist before. Lumber workers make boards from trees, workers build houses from lumber, and factories manufacture automobiles from metal, glass and other materials. But in all these they did not actually "create."

They only changed existing materials into a more usable and, therefore, more valuable form. This is not so with money. Here, and here alone, man actually "creates" something out of nothing. A piece of paper of little value is printed so that it is worth a piece of lumber. With different figures it can buy the automobile or even the house. It's value has been "created" in the truest sense of the word.

"Creating" money is very profitable!

As is seen by the above, money is very cheap to make, and whoever does the "creating" of money in a nation can make a tremendous profit. Builders work hard to make a profit of 5 percent above their cost to build a house.

Auto makers sell their cars for 1 percent to 2 percent above the cost of manufacture and it is considered good business. But money "manufactures" have no limit on their profits, since a few cents will print a $1 bill or a $10,000 bill.

That profit is part of our story, but first let consider another unique characteristic of the thing -- money, the love of which is the "root of all evil".

Adequate money supply needed

An adequate supply of money is indispensable to civilized society. We could forego many other things, but without money industry would grind to a halt, farms would become only self-sustaining units, surplus food would disappear, jobs requiring the work of more than one man or one family would remain undone, shipping and large movement of goods would cease, hungry people would plunder and kill to remain alive, and all government except family or tribe would cease to function.

An overstatement, you say? Not at all. Money is the blood of civilized society, the means of all commercial trade except simple barter. It is the measure and the instrument by which one product is sold and another purchased. Remove money or even reduce the supply below that which is necessary to carry on current levels of trade, and the results are catastrophic.

For an example, we need only look at America's depression of the early 1930's.

Bankers' Depression of the 1930's.

 In 1930 America did not lack industrial capacity, fertile farmlands, skilled and willing workers or industrious families. It had an extensive and efficient transportation system in railroads, road networks, and inland and ocean waterways. Communications between regions and localities were the best in the world, utilizing telephone, teletype, radio, and a well operated government mail system.

No war had ravaged the cities or the countryside, no pestilence weakened the population, nor had famine stalked the land. The United States of America in 1930 lacked only one thing: an adequate supply of money to carry on trade and commerce.

In the early 1930s, bankers, the only source of new money and credit, deliberately refused loans to industries, stores and farms. Payments on existing loans were required however, and money rapidly disappeared from circulation. Goods were available to be purchased, jobs waiting to be done, but the lack of money brought the nation to a standstill.

billbnkrs4.gif (138135 bytes)

By this simple ploy America was put in a "depression" and bankers took possession of hundreds of thousands of farms, homes, and business properties. The people were told, "times are hard" and "money is short." Not understanding the system, they were cruelly robbed of their earnings, their savings, and their property.

No Money for Peace, but Plenty for War.

World War II ended the "depression." The same Bankers who in the early 1930's had no loans for peacetime houses, food and clothing, suddenly had unlimited billions to lend for army barracks, K-rations and uniforms.

A nation that in 1934 could not produce food for sale, suddenly could produce bombs to send free to Germany and Japan! (More on this riddle later).

With the sudden increase in money, people were hired, farms sold their produce, factories went to two shifts, mines reopened, and "The Great Depression" was over!

Some politicians were blamed for it and others took credit for ending it. The truth is the lack of money (caused by Bankers) brought on the depression, and adequate money ended it. The people were never told that simple truth and in this article we will endeavor to show how these same bankers who control our money and credit have used their control to plunder America and place us in bondage.

Power to Coin and Regulate Money

When we can see the disastrous results of an artificially created shortage of money, we can better understand why our Founding Fathers, who understood both money and God's Laws, insisted on placing the power to "create" money and the power to control it ONLY in the hands of the Federal Congress.

They believed that ALL Citizens should share in the profits of its "creation" and therefore the Federal government must be the only creator of money. They further believed that all citizens, of whatever state, territory or station in life, would benefit by an adequate and stable currency. Therefore, the Federal government must also be, by law, the only controller of the value of money.

Since the Federal Congress was the only legislative body subject to all the citizens at the ballot box, it was, to their minds, the only safe depository of so much profit and so much power. They wrote it out in simple, but all inclusive manner: "Congress shall have the power to Coin Money and Regulate the Value Thereof."

How We Lost Control of the Federal Reserve

Instead of the Constitutional method of creating our money and putting it into circulation, we now have and entirely unconstitutional system. This has brought our country to the brink of disaster, as we shall see.

Since our money was handled both legally and illegally before 1913, we shall consider only the years following 1913, since from that year on, all of our money had been created and issued by an illegal method that will eventually destroy the United States if it is not changed. Prior to 1913, America was a prosperous, powerful, and growing nation, at peace with its neighbors and the envy of the world. But in December of 1913, Congress, with many members away for the Christmas Holidays, passed what has since been known as the Federal Reserve Act. (For the full story of how this infamous legislation was forced through our Congress, read "Conquest or Consent", by W. D. Vennard).

Omitting the burdensome details, it simply authorized the establishment of a Federal Reserve Corporation, run by a Board of Directors (The Federal Reserve Board). The act divided the United States into 12 Federal Reserve "Districts."

This simple, but terrible, law completely removed from Congress the right to "create" money or to have any control over its "creation", and gave that function to The Federal Reserve Corporation. It was accompanied by the appropriate fanfare. The propaganda claimed that this would "remove money from politics" (they did not say "and therefore from the people's control")and prevent "boom and bust" economic activity from hurting our citizens.

The people were not told then, and most still do not know today, that the Federal Reserve Corporation is a private corporation controlled by bankers and therefore is operated for the financial gain of the bankers over the people rather than for the good of the people. The word "Federal" was used only to deceive the people.

More Disastrous than Pearl Harbor

Since that "day of infamy", more disastrous to us than Pearl Harbor, the small group of "privileged" people who lend us "our" money have accrued to themselves all of the profits of printing our money -- and more! Since 1913 they have "created" tens of billions of dollars in money and credit, which, as their own personal property, they can lend to our government and our people at interest (usury).

billbnkrs17.gif (133596 bytes)

"The rich get richer and the poor get poorer" had become the secret policy of the Federal government. An example of the process of "creation" and its conversion to peoples "debt" will aid our understanding.

Billions in Interest Owed to Private Banks

We shall start with the need for money. The Federal Government, having spent more than it has taken from its citizens in taxes, needs, for the sake of illustration, $1,000,000,000. Since it does not have the money, and Congress has given away its authority to "create" it, the Government must go to the "creators" for the $1 billion.

But, the Federal Reserve, a private corporation, does not just give its money away! The Bankers are willing to deliver $1,000,000,000 in money or credit to the Federal Government in exchange for the government's agreement to pay it back -- with interest. So Congress authorizes the Treasury Department to print $1,000,000,000 in U.S. Bonds, which are then delivered to the Federal Reserve Bankers.

The Federal Reserve then pays the cost of printing the $1 billion (about $1,000) and makes the exchange. The government then uses the money to pay its obligations. What are the results of this fantastic transaction? Well, $1 billion in government bills are paid all right, but the Government has now indebted the people to the bankers for $1 billion on which the people must pay interest!

Tens of thousands of such transactions have taken place since 1913 so that in 1996, the U.S. Government is indebted to the Bankers for more than $5,000,000,000,000 (trillion). Most of the income taxes that we pay as individuals now goes straight into the hands of the bankers, just to pay off the interest alone, with no hope of ever paying off the principle. Our children will be forced into servitude.

But wait! There's more!

You say, "This is terrible!" Yes, it is, but we have shown only part of the sordid story. Under this unholy system, those United States Bonds have now become "assets" of the banks in the Reserve System which they then use as "reserves" to "create" more "credit" to lend. Current "reserve" requirements allow them to use that $1 billion in bonds to "create" as much as $15 billion in new "credit" to lend to states, municipalities, to individuals and businesses.

Added to the original $1 billion, they could have $16 billion of "created credit" out in loans paying them interest with their only cost being $1,000 for printing the original $1 billion! Since the U.S. Congress has not issued Constitutional money since 1863 (more than 100 years), in order for the people to have money to carry on trade and commerce they are forced to borrow the "created credit" of the Monopoly bankers and pay them usury-interest!

billbnkrs6.gif (101736 bytes)

CONTINUE TO THE NEXT CHAPTER

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Billions for Bankers

Billions for Bankers 

 

 "If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."  - Thomas Jefferson   

Money is "Created", Not Grown or Built.

  Economists use the term ‘create’ when speaking of the process by which money comes into existence. “Creation” means making something which did not exist before. Lumber workers make boards from trees, workers build houses from lumber, and factories manufacture automobiles from metal, glass and other materials. But in all these acts they did not actually “create anything.”  They only changed existing materials into a more usable and therefore more valuable form. This is not so with money. Here and here alone, man actually ‘creates’ something out of nothing. A piece of paper of little value is printed so that it is worth a piece of lumber. With different figures it can buy an automobile or even a house. Its value has been ‘created’ in the truest sense of the word.  ‘Creating’ money is very profitable!  As seen above, money is very cheap to make and whoever does the ‘creating’ of money in a nation can make a tremendous profit. Builders work hard to make a profit of five percent above their costs to build a house.  Auto makers sell their cars for one to two percent above the cost of manufacture and it is considered good business - but money ‘manufactures’ have no limit on their profits, since a few cents will print a one dollar bill or a ten thousand dollar bill.  That profit is part of our story, but first let’s consider another unique characteristic of the thing -- money, the love of which is the “root of all evil”.

 

 

 

Adequate money supply needed

   An adequate supply of money is indispensable to civilised society. We could forego many other things, but without money industry would grind to a halt, farms would become only self-sustaining units, surplus food would disappear, jobs requiring the work of more than one man or one family would remain undone, shipping and large movement of goods would cease, hungry people would plunder and kill to remain alive, and all government except family or tribe would cease to function.
An overstatement, you say? Not at all. Money is the blood of civilised society, the means of all commercial trade xcept simple barter. It is the measure and the instrument by which one product is sold and another purchased. Remove money or even reduce the supply below that which is necessary to carry on current levels of trade and the results are catastrophic. For an example we need only look at America's depression of the early 1930's.

 

 

Bankers' Depression of the 1930s

In 1930 America did not lack industrial capacity, fertile farmlands, skilled and willing workers or industrious families. It had an extensive and efficient transportation system in railroads, road networks, and inland and ocean waterways. Communications between regions and localities were the best in the world, utilising telephone, teletype, radio, and a well operated government mail system.
No war had ravaged the cities or the countryside, no pestilence weakened the population, nor had famine stalked the land. The United States of America in 1930 lacked only one thing: an adequate supply of money to carry on trade and commerce.
In the early 1930s, bankers - the only source of new money and credit - deliberately refused loans to industries, stores and farms. Payments on existing loans were required however, and money rapidly disappeared from circulation. Goods were available to be purchased, jobs waiting to be done, but the lack of money brought the nation to a standstill. 

 

By this simple ploy America was put in a ‘depression’ and bankers took possession of hundreds of thousands of farms, homes, and business properties. The people were told, “times are hard” and “money is short”. Not understanding the system, they were cruelly robbed of their earnings, their savings, and their property.

 

 

 

No Money for Peace, but Plenty for War

  World War II ended the ‘depression’. The same Bankers who in the early 1930s had no loans for peacetime houses, food and clothing suddenly had unlimited billions to lend for army barracks, K-rations and uniforms.

A nation that in 1934 could not produce food for sale could suddenly produce bombs to send free to Germany and Japan! (More on this riddle later).
With the sudden increase in money, people were hired, farms sold their produce, factories went to two shifts, mines reopened, and ‘The Great Depression’ was over!  Some politicians were blamed for it and others took credit for ending it. The truth is the lack of money (caused by Bankers) brought on the depression, and adequate money ended it. The people were never told that simple truth and in this article we will endeavour to show how these same bankers who control our money and credit have used their control to plunder America and place us in bondage.  

 

Power to Coin and Regulate Money

 

 

When we can see the disastrous results of an artificially created shortage of money, we can better understand why our (America’s) Founding Fathers insisted on placing the power to ‘create’ money and the power to control it only in the hands of the Federal Congress.

They believed that all citizens should share in the profits of its ‘creation’ and therefore the Federal Government must be the only creator of money. They further believed that all citizens, of whatever state, territory or station in life, would benefit by an adequate and stable currency. Therefore the Federal Government must also be, by law, the only controller of the value of money.

Since the Federal Congress was the only legislative body subject to all the citizens at the ballot box, it was, to their minds, the only safe depository of so much profit and so much power. They wrote it out in a simple but all inclusive manner: “Congress shall have the power to Coin Money and Regulate the Value Thereof.”

 

 

 

How We Lost Control of the Federal Reserve

Instead of the Constitutional method of creating our money and putting it into circulation, we now have and entirely unconstitutional system. This has brought our country [the United States]to the brink of disaster, as we shall see.

 

 

Since our money was handled both legally and illegally before 1913, we shall consider only the years following 1913, since from that year on,all of our money had been created and issued by an illegal method tha twill eventually destroy the United States if it is not changed. Prior to 1913 America was a prosperous, powerful and growing nation, at peace with its neighbors and the envy of the world. But in December of 1913,Congress, with many members away for the Christmas Holidays, passed what has since been known as the Federal Reserve Act. (For the full story of how this infamous legislation was forced through our Congress, read "Conquest or Consent", by W. D. Vennard).

Omitting the burdensome details, it simply authorised the establishment of a Federal Reserve Corporation, run by a Board of Directors (The Federal Reserve Board). The act divided the United States into 12 Federal Reserve ‘Districts’.

 

 

This simple but terrible law completely removed from Congress the right to create money or to have any control over its creation, and gave that function to The Federal Reserve Corporation. It was accompanied by the appropriate fanfare. The propaganda claimed that this would ‘remove money from politics’ (they did not say ‘and therefore from the people's control’) and prevent ‘boom and bust’ economic activity from hurting our citizens.

 

The people were not told then and most still do not know today that the Federal Reserve Corporation is a private corporation controlled by bankers and therefore is operated for the financial gain of the bankers over the people, rather than for the good of the people. The word ‘Federal’ was used only to deceive the people.

 

More Disastrous than Pearl Harbor

 

 

Since that day of infamy, more disastrous to us than Pearl Harbor, the small group of privileged people who lend us ‘our’ money have accrued to themselves all of the profits of printing our money – and more! Since 1913 they have ‘created’ tens of billions of dollars in money and credit, which, as their own personal property, they can lend to our government and our people at interest (usury).

‘The rich get richer and the poor get poorer’ had become the secret policy of the Federal Government. An example of the process of money creation and its conversion to peoples’ ‘debt’ will aid our understanding.

  

 

We shall start with the need for money. The Federal Government, having spent more than it has taken from its citizens in taxes needs, for the sake of illustration, a billion dollars. Since it does not have the money, and Congress has given away its authority to create it, the Government must go to the ‘creators’ for the $1 billion.

But the Federal Reserve, a private corporation, does not just give its money away! The Bankers are willing to deliver $1,000,000,000 in money or credit to the Federal Government in exchange for the government's agreement to pay it back – with interest. So Congress authorises the Treasury Department to print $1,000,000,000 in U.S. Bonds, which are then delivered to the Federal Reserve Bankers.

The Federal Reserve then pays the cost of printing the $1 billion (about$1,000) and makes the exchange. The government then uses the money to pay its obligations. What are the results of this fantastic transaction? Well, $1billion in government bills are paid all right, but the Government has now indebted the people to the bankers for $1 billion on which the people must pay interest!

Tens of thousands of such transactions have taken place since1913 so that by 1996, the U.S. Government is indebted to the Bankers for more than $5,000,000,000,000 (trillion). Most of the income taxes that we pay as individuals now goes straight into the hands of the bankers just to pay off the interest alone, with no hope of ever paying off the principle. Our children will be forced into servitude.

But wait! There's more!

  

You say, “This is terrible!” Yes, it is, but we have shown only part of the sordid story. Under this unholy system, those United States Bonds have now become ‘assets’ of the banks in the Reserve System which they then use as ‘reserves’ to ‘create’ more ‘credit’ to lend. Current reserve requirements allow them to use that $1 billion in bonds to ‘create’ as much as $15 billion in new ‘credit’ to lend to states, municipalities, to individuals and businesses; to you.

 

 

Added to the original $1 billion, they could have $16 billion of ‘created credit’ out in loans paying them interest with their only cost being $1,000 for printing the original $1 billion! Since the U.S. Congress has not issued Constitutional money since 1863 (more than 100 years), in order for the people to have money to carry on trade and commerce they are forced to borrow the ‘created credit’ of the monopoly bankers and pay them usury-interest!

 

Manipulating Stocks for Fun and Profit

 

 

In addition to almost unlimited usury, the bankers have another method of drawing vast amounts of wealth. The banks who control the money at the top are able to approve or disapprove large loans to large and successful corporations to the extent that refusal of a loan will bring about a reduction in the selling price of the corporation's stock.

 

 

After depressing the price, the bankers' agents buy large blocks of the company's stock. Then, if the bank suddenly approves a multi-million dollar loan to the company, the stock rises and is then sold for a profit. In this manner, billions of dollars are made with which to buy more stock. This practice is so refined today that the Federal Reserve Board need only announce to the newspapers an increase or decrease in their "discount rate" to send stocks soaring or crashing at their whim.

 

 

Using this method since 1913, the bankers and their agents have purchased secret or open control of almost every large corporation in America. Using this leverage, they then force the corporations to borrow huge sums from their banks so that corporate earnings are siphoned off in the form of interest to the banks. This leaves little as actual "profits" which can be paid as dividends and explains why banks can reap billions in interest from corporate loans even when stock prices are depressed. In effect, the bankers get a huge chunk of the profits, while individual stockholders are left holding the bag.

 

 

The millions of working families of America are now indebted to the few thousand banking families for twice the assessed value of the entire United States. And these Banking families obtained that debt against us for the cost of paper, ink, and bookkeeping!

 

The interest amount is never created

 

The only way new money (which is not true money, but rather credit representing a debt), goes into circulation in America is when it is borrowed from the bankers. When the State and people borrow large sums, we seem to prosper. However, the bankers "create" only the amount of the principal of each loan, never the extra amount needed to pay the interest. Therefore, the new money never equals the new debt added. The amount needed to pay the interest on loans is not "created," and therefore does not exist!

 

Under this system, where new debt always exceeds new money no matter how much or how little is borrowed, the total debt increasingly outstrips the amount of money available to pay the debt. The people can never, ever get out of debt!

The following example will show the viciousness of this interest-debt system via its "built in" shortage of money.

 

 

The Tyranny of Compound Interest

 

When a citizen goes to a banker to borrow $100,000 to purchase a home or a farm, the bank clerk has the borrower agree to pay back the loan plus interest. At 8.25% interest for 30 years, the borrower must agree to pay $751.27 per month for a total of $270,456.00.

 

 

The clerk then requires the citizen to assign to the banker the right of ownership of the property if the borrower does not make the required payments. The bank clerk then gives the borrower a $100,000 check or a $100,000 deposit slip, crediting the borrower's checking account with $100,000.

 

 

The borrower then writes checks to the builder, subcontractors, etc. who in turn write checks. $100,000 of new "checkbook" money is thereby added to the "money in circulation."

 

 

However, this is the fatal flaw in the system: the only new money created and put into circulation is the amount of the loan, $100,000. The money to pay the interest is NOT created, and therefore was NOT added to "money in circulation."

 

 

Even so, this borrower (and those who follow him in ownership of the property) must earn and take out of circulation $270,456.00,  $170,456.00 more than he put in circulation when he borrowed the original $100,000! (This interest cheats all families out of nicer homes. It is not that they cannot afford them; it is because the bankers' interest forces them to pay for nearly 3 homes to get one!)

 

 

Every new loan puts the same process in operation. Each borrower adds a small sum to the total money supply when he borrows, but the payments on the loan (because of interest) then deduct a much larger sum from the total money supply.

 

 

There is therefore no way all debtors can pay off the money lenders. As they pay the principle and interest, the money in circulation disappears. All they can do is struggle against each other, borrowing more and more from the money lenders each generation. The money lenders (bankers), who produce nothing of value, gradually gain a death grip on the land, buildings, and present and future earnings of the whole working population. Proverbs 22:7 has come to pass in America. "The rich ruleth over the poor, and the borrower is servant to the lender."

 

 

Small loans do the same thing

 

 

If you have not quite grasped the impact of the above, let us consider an auto loan for 5 years at 9.5% interest. Step 1: Citizen borrows $25,000 and pays it into circulation (it goes to the dealer, factory, miner, etc.) and signs a note agreeing to pay the Bankers a total of $31,503 over 5 years. Step 2: Citizen pays $525.05 per month of his earnings to the Banker. In five years, he will remove from circulation $6,503 more than he put in circulation.

Every loan of banker "created" money (credit) causes the same thing to happen. Since this has happened millions of times since 1913 (and continues today), you can see why America has gone from a prosperous, debt-free nation to a debt-ridden nation where practically every home, farm and business is paying usury-tribute to the bankers…

 

Excerpted from and continues at –

 

 

http://www.justiceplus.org/bankers.htm

 

 

http://newilluminati.blog.city.com

   

   Excerpted from and continues at –

http://www.justiceplus.org/bankers.htm 

or http://loveforlife.com.au/content/07/06/17/billions-bankers-debts-people-pastor-sheldon-emry-1989

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