Exposing Republicrat Monetary Ignorance For Dummies

[H. E. Panqui]

^^^^^

Ralph, 'Brother Nate' rings true about $ome thing$...i don't know what to think about the costume and baggage but i can tell he's done some hone$t thinking, inquiry, etc...unlike the typical Republican and Democrat robot parrot monetary ignoramus..he sounds like a fun guy with whom to have a beer or four...

...at the end he said something like, 'we can take the money power back'.......this is wrongheaded as i don't think 'we' have ever held 'the money power'...it's NEVER been right, true, just, etc..

[H. E. Panqui]

...hint for republicrats who want to learn about the stinking money fraud going on under their noses:...MUCH less limbaugh, beck and hannity...much more ellen brown!..

http://ellenbrown.com/

Why Do Banks Want Our Deposits? Hint: It’s Not to Make Loans.

Posted on October 26, 2014 by Ellen Brown
Many authorities have said it: banks do not lend their deposits. They create the money they lend on their books.
Robert B. Anderson, Treasury Secretary under Eisenhower, said it in 1959:

When a bank makes a loan, it simply adds to the borrower’s deposit account in the bank by the amount of the loan. The money is not taken from anyone else’s deposits; it was not previously paid in to the bank by anyone. It’s new money, created by the bank for the use of the borrower.

The Bank of England said it in the spring of 2014, writing in its quarterly bulletin:

The reality of how money is created today differs from the description found in some economics textbooks: Rather than banks receiving deposits when households save and then lending them out, bank lending creates deposits.
. . . Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money.

All of which leaves us to wonder: If banks do not lend their depositors’ money, why are they always scrambling to get it? Banks advertise to attract depositors, and they pay interest on the funds. What good are our deposits to the bank? Continue reading →

[Ralph Coffman]

Criticize the Banksters and you get labeled Anti-Semite !!!http://yournewswire.com/new-greek-finance-minister-accused-of-anti-semitism/

[H. E. Panqui]

(...i recently came across this statement by Rand Paul from a 'zero hedge' piece:.. "Once upon a time, your dollar was as good as gold," he explained, adding "then for many decades, they said your dollar was backed by the full faith and credit of government." Do you know what it’s backed by now? "Used car loans, bad home loans, distressed assets and derivatives.".

...Rand inaccurately states, "Once upon a time, your dollar was as good as gold" ....sorry Rand, but according to steve zarlenga, the world's foremost monetary historian-(if you know of a better one, please name)- the banksters cheated from the beginning...issuing MANY MANY more bills, bank-book entries, etc., promising redemption in gold than there was actual gold available for redemption...sorry rand, but 'our' stinking money system has always been a stinking fraud..there is no republicrat golden age to which you can 'return'..

...also, 'the backing' for 'our dollars' is LARGELY the same as it's always been: i.e. their unique acceptability/forced usage as the unit of account in courts at law, for the payment of taxes, fees, debts, etc...

..hint for newbies to monetary realism: ..if you were required/forced to use clam shells instead of FRNS in courts at law, for the payment of taxes, fees, debts, etc., the republicrat boobus would be dreaming about the latest episode of 'who wants to be a [clam shell] millionaire'...

[The Gold Standard]

...Rand inaccurately states, "Once upon a time, your dollar was as good as gold" ....sorry Rand, but according to steve zarlenga, the world's foremost monetary historian-(if you know of a better one, please name)- the banksters cheated from the beginning...issuing MANY MANY more bills, bank-book entries, etc., promising redemption in gold than there was actual gold available for redemption...sorry rand, but 'our' stinking money system has always been a stinking fraud..there is no republicrat golden age to which you can 'return'..

I'm often critical of the words that come out of Rand's mouth, but come on now. It's really hard to dumb this stuff down far enough for the idiot public to understand any of it. Trying to get into fractional reserve banking with Boobus does no one any good.

[devil21]

Weird thread. Not sure what Hank's angle is by being so abrasive.

Fiat money is a contract between corporate entities, but particularly central banks. You are a member bank of the Federal Reserve System if you use their "money". Is that what you're getting at Hank?

[H. E. Panqui]

The Gold Standard Writes: I'm often critical of the words that come out of Rand's mouth, but come on now. It's really hard to dumb this stuff down far enough for the idiot public to understand any of it. Trying to get into fractional reserve banking with Boobus does no one any good.


...please..virtually EVERYONE starts out as 'boobus' when it comes to understanding the essence of 'our' stinking corrupt 'monetary authority' (i.e. those who issue/destroy/regulate the volume of money)...virtually EVERY Republicrat of whom i'm aware is STILL a boobu$!!..corner a republicrat and they'll tell you 'the government prints/creates the money'...'banks loans derive from deposits'......i know, i was there too...BUT THESE MISCONCEPTIONS ARE FAIRLY EASILY DISPELLED!!..UNFORTUNATELY WE HAVE (practically) NO HONEST LEADERS WHO WILL PUBLICLY DISPEL THE FRAUD!!..(crissakes!, i've taught 5th graders more of import than the typical republicrat knows...it ain't rocket science!!..you don't need to fully understand reduction mathematics in order to understand/recognize a counterfeiting $cheme..OR TO UNDERSTAND THAT ANY MONETARY AUTHORITY OUGHT TO BE TOTALLY SUBSERVIENT TO CIVIL GOVERNMENT AND NOT THE OTHER WAY AROUND!!..(the stinking republicrat way)

...it aggravates me that NONE OF THESE STINKING REPUBLICRATS SPEND ANY HONEST TIME EXPLAINING, TALKING ABOUT, DEBATING, ETC., THE SIMPLE, HIDEOUS REALITIES OF THIS MISERABLE 'MONETARY AUTHORITY' UNDER WHICH WE GROAN!!!..

...BTW, NOT ONE PEEP FROM HERO, RAND, WHEN HE HAD HIS SHOT AT 'THE MICROPHONE' AT C-PAC......IT SEEMS TO ME A TRUE LEADER WOULD BE ROARING FREQUENTLY ABOUT THIS MI$ERABLE FRAUD!..

...sorry for 'yelling'...i'm a bit defensive, having been banished for some time and finally regaining privileges...I fear my time here is fleet...i don't suffer fools well and it seems everywhere i turn i run into a republicrat monetary ignoramus working their gaping hot-dog hole about 'the illion dollar economy' absent an honest understanding of the hideous origin, nature, etc., of even one 'dollar'....does anyone know of any open, honest, unmoderated, ACTIVE, 'political forums' where people can express themselves in an honest 'competition of ideas?'...i am warmed at the thought of engaging republicrats in an honest competition of ideas!!

[H. E. Panqui]

devil 21 writes: Fiat money is a contract between corporate entities, but particularly central banks. You are a member bank of the Federal Reserve System if you use their "money". Is that what you're getting at Hank?



..'fiat money' is money by 'decree/law'...whether it be some number$ in some 'federal reserve' scheme, gold, toothpicks, horse$hit, etc..?the distinction you may be confusing is the distinction between money with some 'intrinsic value' (gold, etc. ad nauseam) vs. money absent any intrinsic value?...

...what i'm trying to 'get at' among many other things is expressed here by mr hemphill:..

If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon....WHAT I'M TRYING TO GET AT, DEVIL 21, IS THAT 'OUR' STINKING REPUBLICRAT 'LEADERS' AND 'INVESTIGATORS' DON'T HONESTLY AND PUBLICLY REFLECT UPON THIS GD FRAUD!!!

[devil21]

devil 21 writes: Fiat money is a contract between corporate entities, but particularly central banks. You are a member bank of the Federal Reserve System if you use their "money". Is that what you're getting at Hank?



..'fiat money' is money by 'decree/law'...whether it be some number$ in some 'federal reserve' scheme, gold, toothpicks, horse$hit, etc..?the distinction you may be confusing is the distinction between money with some 'intrinsic value' (gold, etc. ad nauseam) vs. money absent any intrinsic value?...

Fair enough. I am guilty of occasionally being flippant with terminology for the sake of brevity. What I meant in particular is that Fed 'money', under the current Fed system, is literally a contract between the user of the money and the issuer of the money. The user is bound by the terms set forth by the issuer. Use of their 'money' is a voluntary agreement to follow the rules of its use, such as the federal income tax. This is why Harry Reid said federal income tax is voluntary. No one is required to use their money but once you do (either by opening a bank account, accepting and spending their 'money' for transactions, among other ways) you are bound to their rules. People are indoctrinated into accepting the 'money' as the means of exchange while not realizing/understanding what that acceptance actually means.

...what i'm trying to 'get at' among many other things is expressed here by mr hemphill:..

If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon....WHAT I'M TRYING TO GET AT, DEVIL 21, IS THAT 'OUR' STINKING REPUBLICRAT 'LEADERS' AND 'INVESTIGATORS' DON'T HONESTLY AND PUBLICLY REFLECT UPON THIS GD FRAUD!!!

You're preaching to the choir. I hit upon this general principle in the "debt is an illusion" thread.

[Ralph Coffman]

"If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon" ------------------------------------------------------Well Said Mr. Hemphill

[H. E. Panqui]

devil 21 writes: "..What I meant in particular is that Fed 'money', under the current Fed system, is literally a contract between the user of the money and the issuer of the money. The user is bound by the terms set forth by the issuer. Use of their 'money' is a voluntary agreement to follow the rules of its use, such as the federal income tax. This is why Harry Reid said federal income tax is voluntary. No one is required to use their money but once you do (either by opening a bank account, accepting and spending their 'money' for transactions, among other ways) you are bound to their rules. People are indoctrinated into accepting the 'money' as the means of exchange while not realizing/understanding what that acceptance actually means."



Sorry, but I must call 'hogwash'!! here^^

..firstly, any valid, honest contract requires that both/all parties understand the terms of said 'contract'...again, virtually every republicrat i know is ignorant of even the basics:..the HIDEOUS, FRAUDULENT, DESTRUCTIVE, etc., origin, nature, etc. of said 'dollars,' etc...

...secondly, use of 'their money' is CERTAINLY NOT 'VOLUNTARY' in any honest sense..IN FACT, use of FRN'$ (by you or someone else in your behalf) is MANDATORY if you wish to remain alive and/or out of jail...think about it and get REAL..

...also, as to the 'preaching to the choir' comment......i wish even one of these/?your stinking local hero 'liberty' republicons would do even a little enlightened, honest preaching to the flock about this bigge$t, mo$t important of fraud$...BUT HARDLY A PEEP FROM THE 'LIBERTY' CREEP$!!

...A little tip for Republicrats and other monetary newbies, etc:..IT'S IMPORTANT THAT YOU PAY ATTENTION TO YOUR MONEY SYSTEM AND MAKE SURE THAT SOME EVIL GD TWISTED CREEPS DON'T GAIN CONTROL OF IT..YOU COULD END UP WITH PLENTY OF MONEY FOR WAR..BUT NO MONEY FOR PEACE AND PHONY, PUPPET ($)ELECTIONS AND CIRCUS DISTRACTION$ GALORE!!

[Ralph Coffman]

[H. E. Panqui]

devil 21 asserts: What I meant in particular is that Fed 'money', under the current Fed system, is literally a contract between the user of the money and the issuer of the money. The user is bound by the terms set forth by the issuer.



(....ummm...'the i$$uer' is supposed to be congress, right?..or some other 'corporation' subservient and honestly accountable to "congress"...[hint for republicrats: that ain't how it works]...

...it also begs the question, 'why do these gd fool puppet-head republicrat politicians countenance the obvious fraud whereby congress' VERY VERY IMPORTANT authority/responsibility to create our 'money' has been delegated/handed to some apparent super-secret squirrel banksters?!?...IT SEEMS TO ME, EITHER THEY DON'T 'GET IT' OR THEY'RE 'IN ON IT'..EITHER WAY, IT'S OBVIOUS THAT NONE OF THESE GD FOOL REPUBLICRATS MERIT HIGH PUBLIC OFFICE..

...AND IF CONGRESS CAN DELEGATE IT'S MONETARY AUTHORITY/POWER...CAN IT ALSO DELEGATE IT'S POWER TO DECLARE WAR?!...TO FIX THE STANDARD OF WEIGHTS AND MEASURES?!....TO PROVIDE FOR THE NATIONAL DEFENSE?!...{wiseguy shouts out, "hey H. E. you dummy, that's already happened!

...and not an honest peep from the 'liberty' suckers..

[devil21]

You have a lot to learn Hank. Here's a simple question. Did you read the contract you agreed to when you opened a bank account and signed the signature card?

[H. E. Panqui]

devil21 asserts: "You have a lot to learn Hank."



...who doesn't?



devil 21 queries: "Here's a simple question. Did you read the contract you agreed to when you opened a bank account and signed the signature card?"

...probably not..'glanced' like ?you too?...(and most everyone?)...i believe i am somewhat familiar with the clause(s) to which you refer..(btw, i think this is largely anachronistic...i.e. from the [phony] days when they said they would (partially) redeem in gold...

...it's a horrible reminder..and it FURTHER begs the question, 'WHY WOULD ANY DECENT, SANE, KNOWLEDGEABLE PERSON SUPPORT/PATRONIZE ANY POLITICIAN, MEDIA OUTLET, ETC. WHO DOESN'T VIGOROUSLY AND PUBLICLY EXPOSE THIS MI$ERABLE MONETARY FRAUD?!...AND DON'T TELL ME 'RAND IS DOING IT' ...HARDLY A STINKING PEEP FROM RAND..

...[one big rea$on this somewhat decent, sane, knowledgeable person will 'strand rand']

[H. E. Panqui]

...here's the whale link to a must-read for monetary realists: "Secrets of the Federal Reserve"...mullins/pound name names...and below, a wiki entry about the man (ezra pound) who inspired the work..btw, 'wiki' refers (falsely, viciously) to mullins as an 'anti-semite'......

http://www.whale.to/b/mullins5.html

..Pound broadcast over Rome Radio, though the Italian government was at first reluctant, concerned he might be a double agent. He told a friend: "It took me, I think it was, TWO years, insistence and wrangling etc., to GET HOLD of their microphone."^[98] He recorded over a hundred broadcasts criticizing the United States, Roosevelt, Roosevelt's family, and the Jews, and rambling about his poetry, economics, and Chinese philosophy. The first was in January 1935, and by February 1940 he was broadcasting regularly; he traveled to Rome one week a month to pre-record the 10-minute broadcasts, for which he was paid around $17, and they were broadcast every three days. The broadcasts required the Italian government's approval, though he often changed the text in the studio. Tytell wrote that Pound's voice had assumed a "rasping, buzzing quality like the sound of a hornet stuck in a jar". The politics apart, Pound needed the money; his father's pension payments had stopped – his father died in February 1942 – and Pound had his mother and Dorothy to look after.^[99]The broadcasts were monitored by the United States Foreign Broadcast Monitoring Service listening station in Princeton University, and Pound was indicted in absentia for treason in July 1943. He answered the charge by writing a letter to Attorney General Francis Biddle, which Tytell describes as "long, reasoned, and temperate", defending his right to free speech.^[100] He continued to broadcast and write under pseudonyms until April 1945, shortly before his arrest.^[101]
Arrest for treason[edit]

Further information: Allied invasion of Italy
..Pound was in Rome early in September when Italy surrendered. He borrowed a pair of hiking boots and a knapsack and left the city, having finally decided to tell Mary about his wife and son. He walked 450 miles north, spending a night in an air raid shelter in Bologna, then took a train to Verona and walked the rest of the way. Mary almost failed to recognize him when he arrived, he was so dirty and tired. He told her everything about his other family; she later admitted she felt more pity than anger.^[104]

...He returned home to Rapallo, where on 3 May 1945, four days after Mussolini was shot, armed partisans arrived at the house to find Pound alone. He stuffed a copy of Confucius and a Chinese dictionary in his pocket before he was taken to their headquarters in Chiavari. He was released shortly afterwards; then with Olga gave himself up to an American military post in the nearby town of Lavagna.^[106]
..On 8 May, the day Germany surrendered, Pound told an American reporter, Ed Johnston, that Hitler was "a Jeanne d'Arc, a saint", and that Mussolini was an "imperfect character who lost his head".^[107]On 24 May he was transferred to the United States Army Disciplinary Training Center north of Pisa, where he was placed in one of the camp's "death cells", a series of six-by-six-foot outdoor steel cages lit up at night by floodlights; engineers reinforced his cage with heavier steel for fear the fascists would try to break him out.^[108] He spent three weeks in isolation in the heat, sleeping on the concrete, denied exercise and communication, except for conversations with the chaplain. After two and a half weeks he began to break down under the strain. Richard Sieburthwrote that Pound recorded it in Canto LXXX, where Odysseus is saved from drowning by Leucothea: "hast'ou swum in a sea of air strip / through an aeon of nothingness, / when the raft broke and the waters went over me." Medical staff moved him out of the cage the following week. On 14 and 15 June he was examined by psychiatrists, one of whom found symptoms of a mental breakdown, after which he was transferred to his own tent and allowed reading material. He began to write, drafting what became known as The Pisan Cantos.^[106] The existence of a few sheets of toilet paper showing the beginning of Canto LXXXIVsuggests he started it while in the cage.^[109

[Ralph Coffman]

MK ULTRA brought to you by the same "Masters" that brought us the Concentration Camps, The BRITISH !!! - The CIA was started by the British with their "British Handbook" - PresidentFranklin D. Roosevelt was concerned about American intelligence deficiencies. On the suggestion of William Stephenson, the senior British intelligence officer in the western hemisphere, Roosevelt requested that William J. Donovan draft a plan for an intelligence service based on the British Secret Intelligence Service (MI6) and Special Operations Executive. Colonel Donovan was employed to evaluate the global military position in order to offer suggestions concerning American intelligence requirements because the U.S. did not have a central intelligence agency. After submitting his work, "Memorandum of Establishment of Service of Strategic Information," Colonel Donovan was appointed as the "Co-ordinator of Information" on July 11, 1941 heading the new organization known as the office of the Coordinator of Information (COI). Thereafter the organization was developed with the assistance of the British; Donovan had responsibilities but no actual powers and the existing US agencies were skeptical if not hostile. Until some months after Pearl Harbor, the bulk of OSS intelligence came from the UK. The first OSS agents were trained by British Security Coordination (BSC) in Canada, until training stations were set up in the US with guidance from BSC instructors, who also provided information on how the SOE was arranged and managed. The British immediately made available their short-wave broadcasting capabilities to Europe, Africa and the Far East and provided equipment for agents until American production was established.^"

[Ralph Coffman]

MK ULTRA brought to you by the same "Masters" that brought us the Concentration Camps, The BRITISH !!! - The CIA was started by the British with their "British Handbook" - PresidentFranklin D. Roosevelt was concerned about American intelligence deficiencies. On the suggestion of William Stephenson, the senior British intelligence officer in the western hemisphere, Roosevelt requested that William J. Donovan draft a plan for an intelligence service based on the British Secret Intelligence Service (MI6) and Special Operations Executive. Colonel Donovan was employed to evaluate the global military position in order to offer suggestions concerning American intelligence requirements because the U.S. did not have a central intelligence agency. After submitting his work, "Memorandum of Establishment of Service of Strategic Information," Colonel Donovan was appointed as the "Co-ordinator of Information" on July 11, 1941 heading the new organization known as the office of the Coordinator of Information (COI). Thereafter the organization was developed with the assistance of the British; Donovan had responsibilities but no actual powers and the existing US agencies were skeptical if not hostile. Until some months after Pearl Harbor, the bulk of OSS intelligence came from the UK. The first OSS agents were trained by British Security Coordination (BSC) in Canada, until training stations were set up in the US with guidance from BSC instructors, who also provided information on how the SOE was arranged and managed. The British immediately made available their short-wave broadcasting capabilities to Europe, Africa and the Far East and provided equipment for agents until American production was established.^{" - http://en.wikipedia.org/wiki/Office_...tegic_Services}

[H. E. Panqui]

http://www.ronpaulforums.com/showthr...hink-About-Thi

...the above thread touches on a aspect of our money system about which most people (i've encountered) are sadly butt-ignorant..another great, eye-opening panqui jewel..

...as you can tell, even the sharper, more knowledgeable people are terribly confused as to how 'money'/'dollars' originate..as you can plainly see from the quotes below, people aren't aware of the fact that the vast majority of the money they use is/was created by commercial banksters:...

"The banks can't create money. The Fed does when they buy Treasuries because they create the money to purchase them. If a bank buys Treasuries, they must use money they already have so they cannot create money that way.


Loans & deposits DON'T "create money". I've already explained the process several times in several threads as to when & who creates "money"."

[H. E. Panqui]

...it's rough getting exposed as a monetary ignoramus...but, it happens to everyone who is not a monetary ignoramus...

...i suspect the pitiful republicans/conservatives/'free marketeers' can't face the reality that control of money is LARGELY in 'private hand$'...thereby exposing their charges of 'socialism' as ridiculous, ignorant...

....i've met maybe a dozen people in my life who truly under$tand...none of them call themselves r's or d's...r's and d's are a cesspool of misinformation...despicable butt ignorance...(that's why they are promoted)

...there seems to be a slight stirring among people in my sphere recently...slowly but surely a trickle of thoughtful inquiry...moving from unconscious unawareness to conscious unawareness...hopefully towards conscious awareness...then on to thoughtful, focused action...where the fools, disinfo artists, shills are naked and laughable in the joyous harmonious throng..

[H. E. Panqui]

...merrill jenkins was my earliest monetary hero...although i disagree vehemently with some of his thoughts, he like ron paul, frequently surprises on the positive side...frequently offering valuable nuggets of information, insight, perspective etc...

...interested newbies to monetary realism would do well to read the late mr jenkins...(and anyone who doesn't understand that our money creation process is accomplished/controlled by 'private commercial banks' is definitely a newbie)

http://www.infogristle.com/merrill-j...ndex.php#_Toc3

THINK
PLACE YOURSELF IN THE POSITION OF BEING ABLE TO CREATE MONEY; EVERYONE MUST ACCEPT IT (YOUR LEGAL TENDER ACT); NO ONE REALLY UNDERSTANDS "WHAT" YOU HAVE "GOING" FOR YOU (ITS YOUR SECRET); ALL THE "MONEY" IN THE WORLD IS YOURS TO CREATE ('MONEY" IS OF NO OBJECT TO YOU); UNDER THOSE CONDITIONS:

• What function of Government could not be corrupted, by you?
• What business could not be destroyed, by you?
• What manner of injustice could not be inflicted on anyone, by you?
• What truth could not be suppressed, by you?
• What commodity could not have its price suppressed, by you?
• What commodity could not have its price supported, by you?
• What commodity could not have its supply decreased, by you?
• What commodity could not have its supply increased, by you?
• What information media policy could not be directed, by you?
• What educational material could not be distorted, by you?
• What school could not have its policies directed, by you?
• What crime could not be "gotten-away-with," by you?

THERE IS NO AMOUNT OF CORRUPTION YOU COULD NOT "GET-AWAY WITH" IF YOU HAD ENOUGH "MONEY!"
Government, Business, Justice, Truth, Prices, Supply, Information, Education, Schools and Crime are all subject to corrupting influences by anyone to whom "MONEY" IS NO OBJECT!
Government is controlled by Modern "money," therefore Government does not create Modern "money," or it would control itself. There is only one entity to whom Modern "money" is no object. It is the commercial banking system (under regulation by the Federal Reserve Board) that has an "OPEN ENDED" checking account.

"These are the men who create the money we all spend … in effect they determine whether you will be able to buy a car, can afford to take a vacation or buy a new home. Their decisions can effect the security of your job … in the deepest secrecy they plot their strategy … everything is cloaked in deepest secrecy … in making decisions they check with no one — not the President, not the Congress, not the people."
Page 14 PARADE MAGAZINE October 26, 1975

The Commercial Banking system through its "monetized debt" ("Modern Money" represented by non-redeemable paper tokens) is the SUPREME force WHO'S WILL IS LAW in the United States.