1.21.2011 FEDERAL RESERVE SYSTEM

taken from the nature of the american system by rousas j. rushdoony 1965, p148f there is no question that andrew jackson, in his 'veto message' of july 10,1832, believed that the bank of the united states was a conspiracy against the people, "unauthorized by the constitution, subversive of the rights of the states, and dangerous to the liberties of the people". wealthy and powerful americans and foreigners were in league against the people behind the facade of the bank. jackson could tolerate no evil as necessary; "there are no necessary evils in government. its evils exist only in its abuses". the civil war saw the banking powers working on both sides to effect a control of $. in the century following the civil war, many powerful fortunes were established, and more than a few writers have ascribed great powers to them. there is no lack of truth, in the main, in such studies, but the heart of the matter lies elsewhere. industry, transportation, news and other centers of power rest today on the foundation of finance capitalism and are accordingly predominantly subservient to the financial powers. hildreth long ago observed the source of the danger:

"a bank whether great or small, naturally and necessarily falls under the influence and control of a few individuals. if there is but one great bank, bank acomadations will be limited, for the most part, to the friends, favorites, proteges and toad-eaters of the few great capitalists who will usurp its management; and the monopoly of banking will tend necessarily to produce a monopoly of business, - for those possess a monopoly of business who enjoy a monopoly of the means necessary to carry it on."

and this has happened. through central banking, nations and people are delivered into bondage to international finance.

the federal reserve system was created ostensibly to remedy the finacial situation. attacks had been made on 'the $ trust", and a very inadequate and faulty investigation made of it by the pujo committee of congress, its results reported by louis d. brandeis in other people's $, and how the bankers use it (1913). with the federal reserve act, the very evils criticized were quickly enthroned so that it could be said, 'banking, as it is conducted today, is actually a conspiracy operating against society". one current schoare has titled his work the federal reserve conspiracy. what is the conspiracy involved in $ today? the clue is in a statement made by governor marriner eccles of the federal reserve board before the house banking and currency committee: "debt is the basis for the creation of $". not too long before america's entry into world war II, eccles said, "if there were no debts in our $ system, there would be no $". as far back as 1935, before the major expansion of debt $, it was noted "that more than 95% of all the nation's $ is based upon its debt instead of its wealth".

this is a difficult concept for most people to realize; they are used to thinking of $ as wealth, not as a permanent debt, if not an outright sale into slavery of their country and its future into the hands of $ lenders. the federal reserve system is a $ trust. the federal reserve system issues paper $ which the united states of america, on the face thereof guarantees, not the federal reserve itself. when the u.s. needs $ , it issues bonds for the needed amount to the federal reserve system, which then issues to the u.s. government the equivalent amount in new currency printed by the u.s. bureau of engraving and printing. at no cost to itself, the federal system issues or creates $ against which the people must pay interest on bonds, and every expansion of currency is an expansion of debt. on the other hand, when the federal reserve system wants new currency, it simply calls for it from the bureau of engraving and secures it debt free . this fantastic system, common to most nations, is a form of slavery without manumission. few protests have been made against the federal reserve system by persons in power, and such protests have been peripheral to the main issue.

let us examine some of the implications of eccles' statements, ie. "debt is the basis for the creation of $..if there were no debts in our $ system, there would be no $". when the u.s. federal government wants $, a hundred million dollars, for example, it prints and turns over interest-bearing bonds for that amount to the federal reserve system, which then creates $ by simply asking the u.s. bureau of engraving to print up a hundred million dollars.

3 things are immediately created, as it were, out of nothing: first, a hundred million dollars in paper $, and, second, a debt for those interest-bearing bonds which well take more than that hundred million to satisfy! but, third, $, the measure and medium of wealth, now represents not wealth but debt, and the existence of most paper currency represents an almost irredeemable debt and mortgage against the entire country. $ THAT IS ITSELF DEBT CANNOT RETIRE DEBT, because it represents, every day it is in existence, an increasing interest debt against the country above and beyond its face value. although it is sometimes said, of the national debt, that 'we owe it to ourselves", in actuality we borrow from those in our midst who are provident to destroy the wealth and assets they possess. thus, although politicians may promise a balanced budget, they are likely to gain more power by increasing debt, for in a debt-free country, the citizenry is strong and the civil government is limited.

in a debt-ridden country, taxes increase, liberties decrease, and the civil government, increasingly less responsive to the will of the citizenry, increases its own power over the people even as it vastly enlarges the power of the invisible government over all. all in all, it is clear that debt is the road to total slavery, and the christian, both as a person and in his organized society, must recognize the truth of scripture when it orders, 'owe no man anything, but to love one another' romans 13.8.

bad as this situation is, the bretton woods, 1944, agreement establishing an INTERNATIONAL MONETARY FUND compounded the evil. the fund is exempt from law and taxation by any government, national or international, and it cannot be the object of any legal proceedings without its permission.

the result is a $ making and $ controlling agency whose powers are steadily coming closer to total power. in 1963, it was proposed by j. r. cuthbertson, economist of lazard boros. and co., london merchant bankers, that, before the price of gold be raised, all nations transfer by bookkeeping their gold to the international monetary fund. "they would receive credit notes in exchange". at "zero hour", all nations would devalue their currencies in terms of gold. if gold were advanced 50%, from $35 an ounce to $52.50, "the IMF would thuhave an immense 50% bookkeeping profit on the transaction". the nations would have of course, a 50% loss financially and a greater loss of self-government to a purely private agency. the IMF is a profit making instittution. it binds member nations to gold and the dollar, both of which are firmly controlled, in the name of monetary unity.

how shall we evaluate these things? it is possible , and many have done it, to begin naming the international political heads, some known and others unknown, who are involved at the heart of these things, but this is an exercise in futility. it has been done for more than a century, and before that in many an era, without any appreciable effect. knowledge is important, but it is not knowledge which saves men, and the public announcement of all the relevant names would in no wise alter the situation in any basic respect. the issue is theological.

in this respect, the fish committee report on communism in 1931 was moving in the right direction when it defined communism as first of all characterized by and advocating a hatred of God and all forms of religion. (note: i don't believe this may be true for i have seen in print that the communists in russia actually encouraged islam within their country.) communism must be defined first of all in relationship to God: it is a religious movement, the politico-economic form of the religion of humanity. this is true of both the marxist and fabian branches.

similarly, the federal reserve system and the IMF rest on the same rejection of orthodox christianity. any directorate can control. although a very small minority, when majorities are without faith and direction. orthodox christians were once such a minority, a threat to rome and its eventual successor. more than the guilt of conspirators, however, which is very real, the helplessness of the christian west is a confession of its own sin and shame.

behind the "$ trust" are, first, the theorists, and second, politicians without faith or courage, and, third, people who will not live in terms of the biblical laws with respect to debt. as we have noted, conspiracies are present on various sides and among differing racial and religious groups, but the basic conspiracy is against God and his Christ, and in some degree includes us all. it includes the clergy, who will not teach the biblcal facts concerning usury, and the laity, who often work to keep the clergy poor and in debt to make them 'spiritually minded and subservient. it includes all who sell their future to men by debt, for debt places one under man's sovereignty otherwise than God's word permits, and not in willing and godly service but as a slave. man must be in service to man only under God.

the biblical law concerning usury or interest and debt is, in its main points, clear-cut. debt is only to be contracted in emergencies, and no man, family or people can mortgage its future. the maximum life of debt was 6 years therefore, all debts being cancel ed on the seventh or sabbatical years (ex. 23.10f, lev. 25.1f cf deut. 15.6-11, 28.12, 44) security of certain sorts for loans could be asked of fellow-believers (deut. 24.6, 17, job 24.3), but not interest (ex. 22.25). unbelievers, living by another law, were not to be bound by this law, and interest could be exacted from them (lev. 25. 36-7, deut. 23.19-20). thus, at best, only a severely limited usury was permitted. with the reformation, some calvinists held to no usury under any circumstances, with others continuing to affirm a strictly limited usury. certainly, the christian was enjoined by paul to pay all due taxes and live debt free. (rom. 13.6-10).

a truly christian order, therefore, means not only a severely limited order with respect to time limits on debt, but also severely restricted with respect to usury. it cannot be one of debt $ and of a debt economy. bonds must thus be seen as clearly unlawful to the orthodox christian, and to his institutions for they involve a philosophy of debt, and of continuing debt, for bonds are not generally retired when due.

indeed bonds are the mainstay of debt $. some bonds are perpetual, the most conspicuous example being the british 'consols', or the british government's 2.5% consolidated stock, of which some $765 million including the consol 4%'s are in existence. bonds commonly are continued past their due date, the issuing governmental agencies rarely having the funds to retire them. in any case, bonds are a central aspect of a debt economy, the mainstay of $ lenders, and a death knell to the liberties of a people. no '$ trust' can be destroyed merely by exposure or by knowledge of its existence. it can be rapidly destroyed as people take seriously their faith in its every aspect and submit themselves to the sovereignty of God and His work.

most fundamentalist christians are thoroughly modernist in their radical disregard of much of scripture, including its teaching concerning debt and usury, and in their limitation of its authority to matters of salvation and certain limited areas of personal and social morality. there is no preaching against the installment plan, bonds, debt $, long term debts, unbiblical usury, and many related matters. for even a limited segment of evangelical christianity to adhere to these principles would have a shattering effect on any '$ trust'. the present debt economy will sooner or later collapse, destroying with it all institutions built thereon. a new and debt free economy must even now be inaugurated in the healthy segments of society, lest chaos follow.

the cardinal of chile, in the mystery of freemasonry unveiled, cited several kinds of international orders, including the monetary powers, as the quiet powers working towards a tyrannical society. the CRITICAL issue, however, is NOT to be located in these INTERNATIONAL CONSPIRACIES, BUT in MAN'S TRANSGRESSION. THE RESULTS OF HIS SIN LIE 'crouching at the door', THREATENING TO MASTER HIM UNLESS HE MASTERS THEM BY HIS OWN SUBMISSION TO GOD. "if you do right, will there not be a lifting up"? (gen. 4.7, berkeley version). to regard the solution as merely the identification, denunciation and punishment of the '$ trust' is to evade the fact of the centrality of the religious issue, the requirement that man live by the whole counsel of God. nothing can absolve man of this responsibility.

note: the goal for every individual is local, independent, self-sufficient, self-governing, agrarian, fountain of blessing to others and above all, bondservant of Jesus Christ. as my weekly food bill this year has come down to about $40 a week (from about $47 last year)... as i eat more from the garden... i am deeply impressed that, if i am not to go to prison, the goal is the one stated above. i am now at the point of beginning to think about making the foods i still buy with the ultimate goal being to spend no $ .. either for food or anything else. no debt. no $. any item felt 'absolutely necessary' but difficult to make could be obtained by barter. Jesus is my unemployment compensation, medicare, medicaid, social security, death benefit, health insurance, etc. and when Jesus wants me, i'm ready! until then, Lord help me,...not one cent from government or any one else...only hilarious giving to the needy one...