Part 5:

Griffin continues:
“The (Bank of England) charter was issued in 1694, and a strange creature took its initial breath of life. It was the world’s first “central bank”…..The reality of central banks, therefore—and we must not forget that the Federal Reserve System is such a creature—is that, under the guise of purchasing government bonds, they act as hidden money machines which can be activated any time the politicians want. This is a godsend to (governments that) no longer can depend on taxes or the good credit of their treasury to raise money. It is even easier than having government printing (its own unbacked paper money), and, because the process is not understood by the public, it is
politically safe.”

Now, here is another connecting of the dots: guess why it is so important for the clique of families to gain control of American education and to dumb down learning in educational institutions? Because by minimizing and dumbing down subjects like economics and finance, the next generations are unable to see through this concealed “central bank” scheme.

“Central banks, of course, are amply paid for this service. To preserve the pretence of (real) banking, it is said they collect interest, but this is a misnomer they didn’t lend money, they created it. Their compensation, therefore, should be called what it is: a professional fee, or commission, or
royalty, or kickback, depending on your perspective, but not interest.”

We’re now at the very centre of the fraud that always exists with “central banks,” including the Federal Reserve. They aren’t banks. They aren’t making real loans because they have no money of any value to lend. We must stop using their “false reality” language. We must call them what they really are: fraudulent organizations, pretending to be bankers that issue unbacked paper money that they give to governments that use it to cover government costs and pay a servicing fee to that fraudulent organization for perpetrating massive fraud on the public.

In reality, when you combine, creating fake money to give to the government to pay its expenses, with (ii) creating fake money to bail out American financial institutions, foreign banks, central banks of foreign countries, transnational corporations, international hedge funds and wealthy individuals, what do you get? Well, you get a sudden and catastrophic plunge in the purchasing power of the dollar (that’s called “hyperinflation”) expected to hit the American public in the 2014 time frame, due to this vast amount of fake money diluting the value of the U.S. dollar. I believe that’s why you see all these “tales” of approaching martial law in America. It’s to contain the public outrage when we all connect the dots to understand how we have been massively swindled.

“The new money created by the Bank of England, (shortly after its 1694 formation) splashed through the economy like rain in April. The country banks outside of the London area were authorized to create money on their own, but they had to hold a certain percentage of either coin or Bank of England (paper money) in reserve. Consequently, when these plentiful banknotes landed in their
hands, they quickly put them into their vaults (as reserves) and then issued their own (newly created) paper money in even greater amounts. As a result of this pyramiding effect, prices rose 100% in just two years. Then, the inevitable happened: there was a run on the (country banks), and the Bank of England could not produce the coin to back up their paper money (which ultimately
created a run on the Bank of England).”

“When banks cannot meet (the demands of depositors for a return of their deposits in coin), …..they are, in fact, bankrupt. They should be allowed to go out of business and liquidate (sell anything of remaining value they own) to satisfy their creditors (whomever has a claim against anything the bank owns of any value), just like any other business. This, in fact, is what always had happened to
banks which (lent their paper money out that was less than fully backed by depositors’ coin). Had this practice been allowed to continue, there is little doubt that people eventually would have understood that they simply do not want to do business with those kinds of banks. That, of course, was not allowed to happen.

The cabal (the Paterson group and the King William’s government) (was) a partnership, and each of the two groups (was) committed to protecting each other, not out of loyalty, but out of mutual interest. They (knew) that, if one falls, so does the other. It is not surprising, therefore, that, when there was a run on the Bank of England, Parliament intervened. In May of 1696, just two years after the Bank was formed, a law was passed authorizing it to ‘suspend payment in specie.’ By force of law, the Bank was now exempted from having to honour its (obligation to satisfy the demand of holders of its unbacked paper money who wanted to exchange their paper for coin).”

So there is a second fraud that follows the first fraud, just as happened in the 2008 global financial collapse. These financial institutions could not honour their obligations and instead of going into bankruptcy or selling out to vulture funds to be broken up, the U.S. Treasury and the Federal Reserve perpetrated a second fraud on the public, namely, the $16+ trillion bailout of the entire global financial system. Both frauds on the public—first, saddling the American people with a sham bank that has massively looted America for nearly 100 years and is mis-titled the “Federal Reserve,” and second, the immense bailout of a corrupt and fraudulent global banking system, secretly run by
The Federal Reserve. Both scams were the work of the clique of families who enforce their power by massive bribery, coercion, deadly violence, and assassinations.

“This was a fateful event (the Bank of England scheme put into operation and then reneging on its obligations in 1696) in the history of money, because the precedent has been followed ever since. In Europe and America, the (Bank of England and the Federal Reserve) have always operated with the assumption that their partners in government will come to their aid when they get into trouble. Politicians may speak about ‘protecting the public,’ but the underlying reality is that government needs (periodic infusions of unbacked paper money) and the printers of unbacked paper money pretending to be bankers) must not be allowed to fail.” The fraudulent activities of the Bank of England—having caused prices to double within two years of its inception in 1696—precipitated a doubling of prices again by 1815. Another financial crisis occurred in 1825 with the failure of 63 depositor banks, sending England into financial crisis. The same happened again in 1839, 1847, 1857, 1866, and 1890.

Can you sense the substantial social and economic turmoil England suffered from the fraudulent practices of the Bank of England? What do you think happened when Parliament let it extend its banking monopoly to the American colonies in 1764? A “Central Bank” Comes to the American Colonies: The Bank of England We’ve examined the fraudulent practices of the Bank of England, an institution spawned from King William’s desperate need for funds. And we know that his dilemma was,

(i) he could not increase taxes on his subjects, and
(ii) (ii) he was unable to borrow money from regular lending sources due to the precarious financial condition of his government. Therein were the seemingly insoluble conditions that brought about the use of fraud:

To be continued: