OVERLORDS OF MONEY
THE TRIUMPH OF THE
MONEYLENDERS AND THE COMING WORLD ORDER
"World events
do not occur by accident. They are made to happen, and most of
them are staged and managed by those who hold the purse strings."
Denis Healey, British
Labour Party minister and Member of Parliament 1952-1992
ORIGIN OF BANKING
Banking can be traced back to
ancient Mesopotamia, where the first known use of money emerged
around 3000 BC. Temples and palaces functioned as early banks,
providing a secure place for individuals to store their grain
and valuables. People would deposit surplus crops, which the temples
safeguarded in exchange for charging interest on the loans they
provided.
Around 600 BCE, the Greek city-state of Athens introduced the
first standardized coinage system, which facilitated trade and
contributed to the growth of banking activities. By lending money
to farmers and traders, Greek moneylenders played an integral
part in the economy, fostering development beyond local systems
to more extensive networks of trade.
Ancient Rome built upon these foundations, establishing a more
sophisticated banking system. Roman banks provided currency exchange,
storage of valuables, and loans. They played a pivotal role in
facilitating commerce across the expansive Roman Empire, extending
their services to merchants, soldiers, and citizens.
The fall of the Roman Empire in the 5th century led to a decline
in banking activities, but they re-emerged in medieval Europe
during the 12th and 13th centuries. The Knights Templar, a religious
military order, provided secure storage for valuables and facilitated
the transfer of funds for pilgrims traveling to the Holy Land.
Their financial network laid the groundwork for modern banking
practices.
The eventual resurgence of banking began in the late Middle Ages,
spurred by the rise of trade and commerce across Europe. The Italian
city-states of Florence, Venice, and Genoa emerged as major banking
centers in the 14th and 15th centuries. In Florence, the Medici
Bank became a dominant financial institution. The bank's ability
to facilitate international trade transactions made it instrumental
in the economic expansion of the region.
In 17th century England, gold was a prominent medium of exchange.
Goldsmiths, charged a fee to wealthy merchants to hold their gold
deposits. Repayment was guaranteed by a note which specified the
amount and quality of gold the goldsmith held.
CENTRAL BANKS
Central banks are not government
institutions, but are privately-owned corporations owned by private
stockholders (international banks). Although the Chairman of the
Federal Reserve (the United States' central bank) and the seven
members of the Board of Governors are appointed by the President,
The Fed's monetary policy decisions do not have to be approved
by the President or by anyone else in the executive or legislative
branches of government, and it does not receive funding from Congress.
There are twelve Federal Reserve Bank branches. All twelve branches
are owned by private banks as shareholders. The private banks
that own The Fed are themselves family-owned, and include: Goldman
Sachs, the Rockefellers, the Lehmans and Kuhn Loebs of New York,
Israel Moses Seif of Rome, the Lazards of Paris, the Warburgs
of Hamburg and the Rothschilds of London and Paris.
Central banks use open market operations to issue money as reserve
deposits, which is available only for use by central bank account
holders. These account holders are generally large commercial
banks and foreign central banks.
The Bank of International Settlements (BIS) in Basel, Switzerland,
the central bank of central banks, is the most powerful bank in
the world. BIS is owned by the United States Federal Reserve Bank,
the Bank of England, the Bank of Italy, the Bank of Canada, the
Swiss National Bank, the Netherlands National Bank, the Bundesbank
of Germany and the Bank of France - all privately-owned banks.
It is virtually immune to the laws of all national governments.
There are 58 global central banks belonging to the BIS, and it
has vastly more power over the world economy than any politician.
The birth of modern banking is often attributed to the founding
of the Bank of Amsterdam in 1609. It functioned as a central bank,
stabilizing the value of the local currency and serving as a model
for other central banks.
The Bank of England was established in 1694, as the central bank
of the United Kingdom. It is one of the oldest and most influential
financial institutions in the world. The Bank of England was established
during the reign of King William III in response to the government's
need to finance its war with France. The Bank became the model
on which all subsequent central banks were replicated.
Central banks were able to intervene in banking crises and served
as lenders of last resort, but they were very controversial. But
they were very controversial. While they promised financial stability,
it was feared that they were too powerful.
Once central banks were established, a pattern emerged where unnecessary
wars were embarked upon, which increased the national debt and
while increasing the profits of the money lenders. Most of these
wars were started against countries that had resources that were
coveted by the bankers or countries that had implemented interest-free
state banking systems, as was the case in the North American colonies.
During the colonial period, the American colonies created their
own paper money. They called their currency colonial script or
bills of credit. It freed them from the control of the English
banks and enabled them to run their financial affairs in an inflation-free
environment with few taxes. Throughout the colonies sustained,
stable economic growth and prosperity were achieved, which would
not have been possible under a privately run banking system based
on usury.
In 1764 the Bank of England introduced a Currency Bill, which
severely restricted the colonies right to issue their own money
and forbade its legal tender status for the payment of private
and public debts. Instead the bank ordered them to issue bonds
at interest and sell them to the Bank of England in exchange for
English money. As a consequence of this law, the economy of the
colonies collapsed and within one year more than half the population
became unemployed and destitute. The Stamp Act of 1765 was the
last straw, but the abolition of the colonial currency was the
primary cause of the revolution from 1765 - 1791.
"When private bankers
usurp control of the money creation process, the inevitable results
are recurring cycles of prosperity and poverty, unemployment,
embedded inflation and an enormous and ever-increasing transfer
of wealth and political power to this tiny clique, who control
this exploitative monetary system. Whenever these private and
central bankers have been opposed in the past by nations seeking
restoration of an honest money system, these parasitic bankers
have invariably invoked a "patriotic" war in order to
defeat the much maligned "enemy". This has been a feature
of almost all wars during the past 300 plus years.
While fiat money is much criticised in some quarters, there is
nothing wrong with it, as long as it is issued by government,
not by private bankers, and is carefully protected against counterfeiters.
Non-fiat money, in contrast, has the serious drawback that whoever
sets the prices of gold and silver - private bankers - can control
the nation's economy."
A History of Central Banking
and the Enslavement of Mankind - Stephen Mitford Goodson, 2014
"The United States Federal
Reserve Bank instead of functioning as the people's banker of
the bankers, has operated solely as a private bank for the benefit
of private bankers. It comes as no surprise that in its 104 years
of existence its accounts have never been submitted to public
audit.
The following are the bank's principal shareholders - 2017
Rothschild Banks of London and Berlin,
Lazard Brothers Banks of Paris,
Israel Moses Sieff Banks of Italy,
Warburg Bank of Hamburg and Amsterdam,
Shearson American Express,
Goldman Sachs of New York,
JP Morgan Chase Bank."
A History of Central Banking
and the Enslavement of Mankind - Stephen Mitford Goodson, 2014
"The ultimate aim of
the Bank of International Settlements (BIS) is a single world
currency, a one world economic system and a global government,
where national laws are no longer applicable or relevant. Control
of the bank lies with the House of Rothschild through its investments
in various central and private banks."
A History of Central Banking
and the Enslavement of Mankind - Stephen Mitford Goodson, 2014
"The present Federal
Reserve System is a flagrant case of the Governments conferring
a special privilege upon bankers. The Government hands to the
banks its credit, at virtually no cost to the banks, to be loaned
out by the bankers for their own private profit. Still worse,
however, is the fact that it gives the bankers practically complete
control of the amount of money that shall be in circulation.
Not one dollar of these Federal Reserve notes gets into circulation
without being borrowed into circulation and without someone paying
interest to some bank to keep it circulating. Our present money
system is a debt money system. Before a dollar can circulate,
a debt must be created. Such a system assumes that you can borrow
yourself out of debt."
Willis A. Overholser, A short
review and analysis of the history of money in the United States,
with an introduction to the current money problem (1936)
MONEY CREATION AND
MONEY SUPPLY
Although central banks can increase
the quantity of reserve deposits directly by making loans to account
holders or by purchasing assets from account holders (large commercial
banks and foreign central banks), the majority of the money that
the public uses for conducting transactions is created by commercial
banks in the form of bank loans.
Once the loan dollars enter circulation, they become part of the
money supply. That money did not exist prior to the bank issuing
the loan. The bank actually created the money out of nothing by
simply making the loan. It then puts the amount of the loan on
its books, and the loan amount becomes an asset of the bank.
The bank has created "money out of thin air".
If no loans are made by banks, no money enters a country's circulation.
No money in circulation = no money for salaries and no money for
people to spend. No money means no economy, ending in recession,
depression, or total economic collapse.
Those who control countries' central banks- private stockholders
(international banks) - ultimately control the money supply of
those countries. Since almost all countries in the world have
private central banks, the power of money creation globally has
been brought under the control of a small group of people, who
as a result, have obtained complete political control of the world.
"Every single dollar
in circulation has been borrowed at interest - there is no other
way to introduce new currency into the economy. When loans are
paid back plus the interest, it is absolutely necessary that someone
else borrow even more in order to keep the money supply constant.
This is insane - except for the bankers running the scam. Not
only do we have to borrow every dollar, the dollars are simply
issued with literally no cost to the lender. It is counterfeiting
on a grand scale. Every dollar in your pocket is a debt someone
is paying interest on - and if the government borrowed it, then
we all are paying taxes to keep that bill in circulation. In other
words, we are renting our money supply forever instead of having
a currency backed by gold/silver or any combination of hard commodities
Credit is necessary for business but to force people to accept
IOUs in lieu of cash is wrong."
Robert Hemphill, Credit Manager
of Federal Reserve Bank, Atlanta, Ga, 1939
"The modern banking system
manufactures money out of nothing. This process is perhaps the
most astounding piece of sleight of hand that was ever invented.
Banking was conceived in inequity and born in sin. Bankers own
the earth. Take it away from them but leave them the power to
create money, and, with the flick of a pen they will create enough
money to buy it back again if you want to continue to be the slaves
of the bankers and pay the cost of your own slavery, then let
bankers continue to create money and control credit."
Sir Josiah Stamp, Director of
the Bank of England and the second richest man in Britain in the
1920s
"Powerful industrialists
and bankers essentially bribed the politicians in almost every
country of the world into giving up their Constitutionally-protected
right to print notes for the Treasury. They handed that power
over to a private corporation which issued notes called Federal
Reserve Notes they are 'debt notes' What we think of as 'money'
does not exist; it is borrowed into existence."
Mary Elizabeth Croft, Author
"The global financial
elite earn interest on every single dollar in existence, because
every single dollar in existence has been created and loaned into
the economy by them. Accordingly, their debt-based system guarantees
that nations will remain forever trapped in debt. As a nation
and its citizens attempt to reduce their debt to bankers, they
simultaneously reduce their nation's money supply. Paying off
all debt would reduce the money supply to zero not only would
this be impossible, but financial chaos and "emergency government
borrowing" would be triggered long before any significant
reduction in debt was achieved."
Professor Carroll Quigley in
his book "Tragedy and Hope"
"Never in the history
of the World has so much power been vested in a small body of
men as in the Federal Reserve Board. These men have the welfare
of the world in their hands and they could upset the rest of us
either deliberately or by some unconscious action."
Sir Josiah Stamp in an interview
with the New York Evening Post
"When you or I write
a cheque there must be sufficient funds in our account to write
the cheque, but when the Federal Reserve writes a cheque there
is no bank deposit on which that cheque is drawn. When the Federal
Reserve writes a cheque it is creating money."
Federal Reserve Bank of Boston
"By increasing the money
supply with loans, international bankers/merchant bankers increase
the indebtedness of others and drive prices up. Then, by decreasing
the money supply, they can force many debtors into foreclosure
and confiscate whatever collateral was pledged to secure their
loans. This manipulation of the money supply is a prominent aspect
of the so-called business cycle and it is destructive to business
and industry."
Professor Carroll Quigley in
his book "Tragedy and Hope"
"The Federal Reserve
Act of 1913 gave the bankers complete control of the money and
thereby the control of the economy. They issue and own all the
money in the nation When the government borrows one billion dollars,
it turns over to the bankers an interest-bearing, tax-free government
bond and receives that amount in credit. As our banking laws require
only a 20 percent reserve, the bankers can create an additional
$4 billion in credit and lend it at interest to states, municipalities,
businesses, and individuals.
The only way the interest gets back into circulation is by more
and more borrowing from the bankers, otherwise there would soon
be no money in circulation. The debt and the interest go higher
just to keep the same amount of money in circulation."
Dr. Franklin Snook, Author of
America Needs the Divine Law
"Central banks facilitate
money creation through open market operations, where they purchase
government bonds or assets, injecting new money into the banking
system. During crises or wars, central banks engage in quantitative
easing (QE)-a process of large-scale asset purchases that significantly
increases the money supply."
Professor Carroll Quigley in
his book "Tragedy and Hope"
"The Federal Reserve
is an independent, privately-owned corporation. The Federal Reserve
central bank (known as simply "The FED") is owned by
private commercial banks, the largest of which are Citibank and
JPMorgan Chase company. These two banks are part of the empires
built by JPMorgan and John D. Rockefeller, who orchestrated the
Federal Reserve Act in 1913. The 'Federal Reserve' is actually
an independent, privately owned corporation. It consists of twelve
regional Federal Reserve banks owned by commercial member banks.
Privately-owned banks own the shares of the Federal Reserve."
Ellen Brown, author
"Central banks, such
as the Federal Reserve in the U.S., play a crucial role in the
process of money creation during wartime. Central banks can increase
the money supply by purchasing government debt or war bonds, which
is essentially a way of creating money out of thin air. This action
increases the reserves held by commercial banks, which can then
lend more money into the economy, multiplying the initial amount
through the fractional reserve banking system.
The decision to finance war through money creation-rather than
through taxation or borrowing in the
open market-can significantly increase the money supply and lead
to inflation."
Professor Carroll Quigley in
his book "Tragedy and Hope"
"The Rothschilds have
been in control of the world's money supply for more than two
centuries In 1791, the Rothschild family gained control of America's
money supply through Alexander Hamilton (the family's agent in
George Washington's cabinet) when the family established a central
bank in the U.S. named the First Bank of the United States, which
received a 20-year charter from Congress in 1791 When Congress
refused to renew the charter in 1812, the Rothschilds threatened
the U.S. with a "most disastrous war" with Britain.
The U.S. stood firm. Following through on their threat, a second
war broke out between the U.S. and Britain. The British war effort
was financed by the Rothschilds. When the war ended in 1815, U.S.
finances were in shambles. By 1816, Congress passed a bill authorizing
a second Rothschild-dominated central bank with a 20-year charter.
Named the Second Bank of America, this bank gave the Rothschilds
control of the American money supply again In 1913, the Rothschilds
established their last and current central bank in America --
the Federal Reserve Bank. This independent bank regulates and
controls America's money supply and monetary policies. Even though
the Federal Reserve is overseen by a board of governors appointed
by the President of the United States, the bank's real control
still resides with the Rothschild family."
The Rothschilds: Controlling
the World's Money Supply for More Than Two Centuries, donaldwatkins.com,
December 27, 2019
FIAT MONEY AND FRACTIONAL
RESERVE BANKING
FIAT MONEY
Fiat money is a currency issued
by a government that is backed by the authority and power of that
government and its economy rather than a physical commodity. Historically,
governments would mint money out of gold and silver, metals with
inherent value. Fiat money, however, is not based on the value
of any commodity. Its value exists because the issuing government
has declared that it has value; hence the term "fiat",
is from the Latin "let it be". Most modern paper currencies
are fiat currencies, including the U.S. dollar, the euro, and
other major global currencies.
FRACTIONAL RESERVE
BANKING
In the Middle Ages, goldsmiths
accepted deposits of gold for safekeeping in their vaults. They
began issuing in gold receipts (loans with interest) up to ten
times the amount of gold they had received in deposits. This is
the origin of fractional reserve banking.
Fractional reserve banking is a system in which banks are required
to keep only a small portion of their customers' deposits as reserves,
while the rest can be used to issue loans. If a bank receives
a $1,000 deposit and the reserve requirement is 10%, it must hold
$100 in reserve and can lend out the remaining $900. This practice
enables banks to create new money in the economy through lending,
as the deposited funds are simultaneously recorded as liabilities
for the bank and assets for the depositors.
In March 2020, the Federal Reserve - the United States' central
bank - lowered the reserve requirement ratio - the minimum percentage
of deposits kept as reserves - to 0%, meaning there's no reserve
requirement for banks.
"For generations men
had sought to avoid the one drawback of gold, its heaviness, by
using pieces of paper to represent specific pieces of gold. Today
we call such pieces of paper gold certificates. Such a certificate
entitles its bearer to exchange it for its piece of gold on demand,
but in view of the convenience of paper, only a small fraction
of certificate holders ever did make such demands. It early became
clear that gold need be held on hand only to the amount needed
to cover the fraction of certificates likely to be presented for
payment; accordingly, the rest of the gold could be used for business
purposes, or, what amounts to the same thing, a volume of certificates
could be issued greater than the volume of gold reserved for payment
of demands against them. Such an excess volume of paper claims
against reserves we now call bank notes. In effect, this creation
of paper claims greater than the reserves available means that
bankers were creating money out of nothing."
Professor Carroll Quigley in
his book "Tragedy and Hope"
"One feature of banking
that cries out for reform is "fractional reserve banking",
i.e. the practice whereby private banksare in effect coining their
own money and putting it into circulation, a prerogative that
ought to be reserved for governments. Under the system of fractional
reserve banking, profits from any expansion of the money supply
go to private banks rather than being used by the government to
provide social services. This is basically fraudulent and unjust;
the banks are in effect issuing their own counterfeit money. When
the economy contracts instead of expanding, the effect of fractional
reserve banking is still worse."
John Scales Avery, an Associate
Professor in quantum chemistry at the University of Copenhagen,
and a member of the group that received the Nobel Peace Prize
in 1995
"Money is often perceived
as a finite resource controlled by central banks and backed by
tangible assets such as gold or government reserves. However,
in the modern banking system, money is primarily created through
the process of credit issuance by commercial banks. This ability
to generate money "out of thin air" is particularly
amplified during periods of war when governments require massive
financial resources to fund military operations."
Professor Carroll Quigley in
his book "Tragedy and Hope"
"Governments require
large sums of money to fund military operations, and they often
turn to central and private banks for loans. This leads to an
increase in money supply, which banks create through fractional
reserve banking. In many cases, central banks, in collaboration
with private financial institutions, print money or issue bonds
to finance war efforts. This process creates debt, which becomes
a lucrative asset for banks as they collect interest payments
long after the war has ended."
Professor Carroll Quigley in
his book "Tragedy and Hope"
"I am afraid that the
ordinary citizen will not like to be told that the banks can,
and do, create and destroy money. The amount of money in existence
varies only with the action of the banks in increasing or decreasing
deposits and bank purchases. Every loan, overdraft or bank purchase
creates a deposit, and every repayment or bank sale destroys a
deposit... And they who control the credit of a nation, direct
the policy of Governments and hold in the hollow of their hands
the destiny of the people."
Reginald McKenna, a former Chancellor
of the Exchequer, addressing the shareholders as Chairman of the
Midland Bank, at the Annual General Meeting in January 1924
"Most modern economies
operate under a fractional reserve banking system, where
banks are required to keep only a fraction of their deposits as
reserves while lending out the rest.
When a bank issues a loan, it does not lend existing money but
instead creates new money in the form of deposits. This process,
known as credit creation, expands the money supply.
For example, if a bank has a reserve requirement of 10%, it can
lend out 90% of its deposits. When a customer borrows money, the
funds are deposited in another bank account, which can then be
loaned out again, leading to a multiplier effect on money creation."
Professor Carroll Quigley in
his book "Tragedy and Hope"
"Every country suspended
the gold standard at the outbreak of the war [WWI]... This removed
the automatic limitation on the supply of paper money. Then each
country proceeded to pay for the war by borrowing from the banks.
The banks created the money which they then lent by merely giving
the Government a deposit of any size against which the Government
could draw checks. The banks were no longer limited in the amount
of credit they could create because they no longer had to pay
out gold for checks on demand. Thus the creation of money in the
form of credit by the banks was limited only by the demands of
its borrowers."
Carroll Quigley in his book "Tragedy
and Hope"
SOVEREIGN DEBT
In medieval times, the Catholic
Church's prohibition of usury meant that lending at interest was
often left to marginalized groups. Despite religious restrictions,
the need for capital and credit spurred the growth of banking
systems.
As European nations began to explore and colonize other parts
of the world, the concept of national debt became increasingly
important. The funding of voyages and military expeditions often
required substantial loans, which were expected to be repaid with
interest from the wealth generated by these new colonies.
By the 18th century, national debts were a common and accepted
part of state finance, with countries borrowing to fund wars and
territorial expansion.
The power to create debt-money has resulted in the power to manipulate
the global economy. Representative democracy is an illusion. Those
that control the debt-money creation process wield the power to
control the world, regardless of the political system (capitalism,
socialism, communism, etc.).
Sovereign debt refers to the total amount of money that a country's
national government owes to its creditors. It is typically raised
by issuing debt instruments such as bonds, treasury bills, and
loans, either in the domestic market or from international sources.
This debt can be held by private investors, financial institutions,
foreign governments, or multilateral organizations like the International
Monetary Fund (IMF) and the World Bank. Sovereign debt is used
to finance budget deficits when government expenditures exceed
revenues from taxes and other income sources. The loans require
repayment with interest.
The total debt incurred by governments of the world cannot ever
be repaid as there is always more debt in the system than ability
to repay. The total debt is always greater than the amount of
money in circulation.
Virtually every national government of the world owes vast amounts
of debt and, are, therefore in debt servitude to the privately-owned
international banking system.
"The modern world's financial
system, an updating of the Babylonian monetary system of taxes
and money creation, was perfected in Frankfurt, Germany. Mayer
Amschel Bauer (later Rothschild) discovered that although loans
to farmers and small businesses could be profitable, the real
profits lay in making loans to governments."
The World Order - Study In the
Hegemony of Parasitism by Eustace Mullins, 1985
"Governments borrow money
when their own income from taxes, fees, etc. are not adequate
to fund government expenses, including government employee salaries,
social services, infrastructure maintenance and improvements,
military expenses, and wars."
IMF.org - What is sovereign debt?
"Governments everywhere
are in debt, who are they in debt to? The answer is that they
are in debt to private banks. The 'cruel hoax' is that governments
are in debt for money created on a computer screen, money they
could have created themselves."
Ellen Brown, Author the book
'The Web of Debt'
"The power of investment
bankers over governments rests on a number of factors, of which
the most significant, perhaps, is the need of governments to borrow
money. Just as businessmen go to commercial banks for current
capital advances so a government has to go to merchant bankers
(or institutions controlled by them) to tide over the shallow
places caused by irregular tax receipts. As experts in government
bonds, the international bankers not only handled the necessary
advances but provided advice to government officials and, on many
occasions, placed their own members in official posts In addition
to their power over government based on government financing and
personal influence, bankers could steer governments in ways they
wished them to go by other pressures. Since most government officials
felt ignorant of finance, they sought advice from bankers whom
they considered to be experts in the field. The history of the
last century shows that the advice given to governments by bankers,
like the advice they gave to industrialists, was consistently
good for bankers, but was often disastrous for governments, businessmen,
and the people generally. Such advice could be enforced if necessary
by manipulation of exchanges, gold flows, discount rates, and
even levels of business activity."
Carroll Quigley in his book Tragedy
and Hope
"If money is borrowed
into existence, then that is all that exists. So where is the
interest? It doesn't exist. How can it possibly be paid? It can't
be (fully) paid because it is not part of what is created. It
simply does not exist. "
Mary Elizabeth Croft, Author
"The global financial
elite create, destroy, and direct as much money as they see fit.
They earn interest on every single dollar in existence, because
every single dollar in existence has been created and loaned into
the economy by them. Accordingly, their debt-based system guarantees
that nations will remain forever trapped in debt. As a nation
and its citizens attempt to reduce their debt to bankers, they
simultaneously reduce their nation's money supply. Paying off
all debt would reduce the money supply to zero not only would
this be impossible, but financial chaos and "emergency government
borrowing" would be triggered long before any significant
reduction in debt was achieved."
Carroll Quigley in his book Tragedy
and Hope
"International bankers
make money by extending credit to governments. The greater the
debt of the political state, the larger the interest returned
to lenders. The national banks of Europe are (also) owned and
controlled by private interests. We recognize in a hazy sort of
way that the Rothschilds and the Warburgs of Europe and the houses
of JP Morgan, Kuhn Loeb & Co., Schiff, Lehman and Rockefeller
possess and control vast wealth. How they acquire this vast financial
power and employ it is a mystery to most of us."
Sen. Barry Goldwater (R-AZ)
"Nathan Rothschild opened
N M Rothschild & Sons in 1811. He would pioneer the strategy
of lending to governments during wartime, and having the winner
cover the loser's debt."
Professor Roland Usher in his
book "Pan Americanism", 1913
"The International Monetary
Fund (IMF) and World Bank - both founded under Rothschild-style
banking principles - trap nations in debt. When countries accept
loans from the IMF or World Bank, they are forced to adopt austerity
measures, which give foreign banks control over their economies.
The goal? Permanent financial dependency."
Professor Roland Usher in his
book "Pan Americanism", 1913
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