"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations.
Each central bank sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world.
The growth of financial capitalism made possible a centralization of world economic control and use of this power for the direct benefit of financiers and the indirect injury of all other economic groups.'' (Book: Tragedy and Hope 1966 pag. 325,338,950)
The problem of public debts [1] arose from the fact that as money (credit) was created, it was usually made in such a way that it was not in the control of the state but was in the control of private
financial institutions which demanded real wealth at some future date for the creation of claims on wealth in the present. The problem of public debt could have been met in one or more of several fashions:
a) by increasing the amount of real wealth...
b) by devaluation...
c) by repudiation...
d) by taxation...
e) by the issuance of fiat money and the payment of the debt by such money.
Efforts to pay the public debt by fiat money would have made the inflation problem worse.
(ibid pp 330)
[1]:
Belgische staatsschuld stijgt met 800 euro per seconde http://www.demorgen.be/dm/nl/3324/Economie/article/detail/793371/2009/03/25/Belgische-staatsschuld-stijgt-met-800-euro-per-seconde.dhtml
As of April 7, 2009, the total U.S. federal debt was $11,152,772,833,835.89 US National Debt or this Debt Clock http://www.brillig.com/debt_clock/
16 apr 2009
Caroll Quigley (Bill Clinton's mentor, historian for the Council on Foreign Relations) quotes
30 nov 2008
Ron Paul warns of secret plans to create international central bank
Texas Congressman Ron Paul has warned that international forces are planning the creation of a global central bank that will see a new fiat monetary system come to dominate the world economy.
The 2008 presidential candidate also warned that Barack Obama’s administration will only represent a change in faces and not in policies.
Speaking about the recent G20 meeting Paul toldRussia Today [1] :
“I think something will come of it but you probably didn’t hear about it yet. There was some pomp and ceremony that the public knew about, but behind the scenes they were talking about the future and what they are going to do to try to internationalize all regulations, going in the opposite direction of free market and more towards international regulations. I’m sure they even talked about an international central bank.”
source: http://www.deepjournal.com/p/7/a/en/1793.html
[1] VIDEO interview http://www.russiatoday.com/guests/video/1833
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