• Quotation Sources in order of appearance in the movie:
Money as Debt II - Promises Unleashed
• Quotation Sources in order of appearance in the movie:
Money as Debt III - Evolution Beyond Money
• Quotation Sources in order of appearance in the movie:
"We are absolutely without a permanent money system...
"Each and every time a bank makes a loan (or purchases securities), new bank credit is created — new deposits — brand new money."
Graham F. Towers, Director, Bank of Canada
"The process by which banks create money is so simple the mind is repelled."
John Kenneth Galbraith, Economist,
"Permit me to issue and control the money of a nation, and I care not who makes its laws."
Mayer Amschel Rothschild, International Banker
"I am afraid that the ordinary citizen
“Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess.”
Irving Fisher, economist and author
“That is what our money system is. If there were no debts in our money system, there wouldn’t be any money.”
"Everyone sub-consciously knows banks do not lend money. When you draw on your savings account, the bank doesn't tell you you can't do this because it has lent the money to somebody else."
"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 situation is almost incredible -- but there it is."
Robert Hemphill. Credit Manager, Federal Reserve Bank
“One thing to realize about our fractional reserve banking system is that, like a child’s game of musical chairs, as long as the music is playing, there are no losers.”
Andrew Gause, Monetary Historian
“The greatest shortcoming of the human race is our inability to understand the exponential function.”
Albert A. Bartlett, physicist
“Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.”
Kenneth Boulding, economist
“I have never yet had anyone who could, through
the use of logic and reason, justify the Federal Government borrowing
the use of its own money... I believe the time will come when people
will demand that this be changed. I believe the time will come in this
country when they will actually blame you and me and everyone else connected
with the Congress for sitting idly by and permitting such an idiotic
system to continue.”
Congressman Wright Patman
“Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal, that there is no human relation between master and slave.”
“None are more enslaved than those who falsely believe they are free.”
“’The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented.
Banking was conceived in iniquity 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 the pen they will create enough money to buy it back again...
Take this great power away from them and all great fortunes like mine will disappear, and they ought to disappear, for then this would be a better and happier world to live in. But if you want to continue to be slaves of the banks and pay the cost of your own slavery, then let bankers continue to create money and control credit’.”
Sir Josiah Stamp Director, Bank of England 1928-1941
"Throughout the ages,the devices of cunning men have turned money to their nefarious purposes.
E.C. Reigel (1879-1953) monetary theorist & consumer advocate
“All of the perplexities, confusion, and distress
in America arises, not from the defects of the Constitution or Confederation,
not from want of honor or virtue, so much as from downright ignorance
of the nature of coin, credit, and circulation.”
“Whoever controls the volume of money in our country
is absolute master of all industry and commerce...and when you realize
that the entire system is very easily controlled, one way or another,
by a few powerful men at the top, you will not have to be told how periods
of inflation and depression originate.”
"The Government should create, issue, and circulate all
the currency and credits needed to satisfy the spending power of the
Government and the buying power of consumers. By the adoption of these
principles, the taxpayers will be saved immense sums of interest. The
privilege of creating and issuing money is not only the supreme prerogative
of government, but it is the government’s greatest creative opportunity.”
"Once a nation parts with the control of its currency and credit, it matters not who makes the nations laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognised as its most sacred responsibility, all talk of the sovereignty of parliament and of democracy is idle and futile."
William Lyon Mackenzie King
"For more than a century, ideological extremists at either end of the political spectrum have seized
upon well-publicized incidents to attack the Rockefeller family for the inordinate influence
they claim we wield over American political and economic institutions.
“Only the small secrets need to be protected.
Alternately quoted as:
Marshall McLuhan, media “guru”
Not in the Movie
Misc Quotes on Banking
'The world is governed by very different personages from what is imagined by those who are not behind the scenes.'
Benjamin Disraeli, first Prime Minister of England, in a novel he published in 1844 called Coningsby, the New Generation
'The governments of the present day have to deal not merely with other governments, with emperors, kings and ministers, but also with the secret societies which have everywhere their unscrupulous agents, and can at the last moment upset all the governments plans. '
British Prime Minister Benjamin Disraeli, 1876
"In March, 1915, the J.P. Morgan interests, the steel, shipbuilding, and powder interest, and their subsidiary organizations, got together 12 men high up in the newspaper world and employed them to select the most influential newspapers in the United States and sufficient number of them to control generally the policy of the daily press....They found it was only necessary to purchase the control of 25 of the greatest papers. An agreement was reached; the policy of the papers was bought, to be paid for by the month; an editor was furnished for each paper to properly supervise and edit information regarding the questions of preparedness, militarism, financial policies, and other things of national and international nature considered vital to the interests of the purchasers."
U.S. Congressman Oscar Callaway, 1917
'The real menace of our republic is this invisible government which like a giant octopus sprawls its slimy length over city, state and nation. Like the octopus of real life, it operates under cover of a self created screen....At the head of this octopus are the Rockefeller Standard Oil interests and a small group of powerful banking houses generally referred to as international bankers. The little coterie of powerful international bankers virtually run the United States government for their own selfish purposes. They practically control both political parties.'
New York City Mayor John F. Hylan, 1922
'From the days of Sparticus, Wieskhopf, Karl Marx, Trotsky, Rosa Luxemberg, and Emma Goldman, this world conspiracy has been steadily growing. This conspiracy played a definite recognizable role in the tragedy of the French revolution. It has been the mainspring of every subversive movement during the 19th century. And now at last this band of extraordinary personalities from the underworld of the great cities of Europe and America have gripped the Russian people by the hair of their head and have become the undisputed masters of that enormous empire.'
Winston Churchill, stated to the London Press, in 1922
'The government of the Western nations, whether monarchical or republican, had passed into the invisible hands of a plutocracy, international in power and grasp. It was, I venture to suggest, this semi-occult power which....pushed the mass of the American people into the cauldron of World War I.'
British military historian Major General J.F.C. Fuller, 1941
"For a long time I felt that FDR had developed many thoughts and ideas that were his own to benefit this country, the United States. But, he didn't. Most of his thoughts, his political ammunition, as it were, were carefully manufactured for him in advanced by the Council on Foreign Relations -- One World Money group. Brilliantly, with great gusto, like a fine piece of artillery, he exploded that prepared "ammunition" in the middle of an unsuspecting target, the American people, and thus paid off and returned his internationalist political support.
"The UN is but a long--range, international banking apparatus clearly set up for financial and economic profit by a small group of powerful One--World revolutionaries, hungry for profit and power.
"The depression was the calculated 'shearing' of the public by the World Money powers, triggered by the planned sudden shortage of supply of call money in the New York money market....The One World Government leaders and their ever close bankers have now acquired full control of the money and credit machinery of the U.S. via the creation of the privately owned Federal Reserve Bank."
Curtis Dall, FDR's son-in-law as quoted in his book, My Exploited Father-in-Law
'A definite factor in getting a lie believed is the size of the lie. The broad mass of the people, in the simplicity of their hearts, more easily fall victim to a big lie than to a small one.'
'And it seems to me perfectly in the cards that there will be within the next generation or so a pharmacological method of making people love their servitude, and producing … a kind of painless concentration camp for entire societies, so that people will in fact have their liberties taken away from them but will rather enjoy it, because they will be distracted from any desire to rebel by propaganda, brainwashing, or brainwashing enhanced by pharmacological methods.'
Aldous Huxley, 1959
'I know the secret of making the average American believe anything I want him to. Just let me control television.... You put something on the television and it becomes reality. If the world outside the TV set contradicts the images, people start trying to change the world to make it like the TV set images.....'
Hal Becker, media 'expert' and management consultant,
the Futures Group, in an interview in 1981
"Our job is to give people not what they want, but what we decide they ought to have."
Richard Salant, former President of CBS News
"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 worlds' central banks which were themselves private corporations. 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."
Tragedy and Hope: A History of The World in Our Time (Macmillan Company, 1966) Professor Carroll Quigley of Georgetown University, highly esteemed by his former student, former US President, Bill Clinton
"There is a small circle of men who control the world's finance. "Each member, before initiation, knows its religion to be reward for friends and extermination of enemies.
Once a man is within the magic circle...punishment for disloyalty is sure and terrible, and in no corner of the Earth can he escape it, nor can any power on Earth protect him from it.
" The magic circle is "at the receiving end of the greatest information bureau in the world.""
Thomas Lawson, Everybody's Magazine "Frenzied Finance" 1904
"Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. Our minds are molded, our tastes are formed, our ideas suggested, largely by men we have never heard of."
Walter Bernays Propaganda 1928
" I think the subject which will be of most importance politically is mass psychology... Various results will soon be arrived at :that the influence of home is obstructive... although this science will be diligently studied, it will be rigidly confined to the governing class. The populace will not be allowed to know how its convictions were generated. When the technique has been perfected, every government that has been in charge of education for a generation will be able to control its subjects securely without the need of armies or policemen... Educational propaganda, with government help, could achieve this result in a generation. There are, however, two powerful forces opposed to such a policy: one is religion; the other is nationalism... A scientific world society cannot be stable unless there is a world government."
Bertrand Russell 1958
"If two parties, instead of being a bank and an individual, were an individual and an individual, they could not inflate the circulating medium by a loan transaction, for the simple reason that the lender could not lend what he didn't have, as banks can do....
Only commercial banks and trust companies can lend money that they manufacture by lending it."
“The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it.”
"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks."
"Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower’s IOU.
"Banks lend by creating credit. They create the means of payment out of nothing."
"The decrease in purchasing power incurred by holders of money due to inflation imparts gains to the issuers of money.”
“The entire world economy rests on the consumer; if he ever stops spending money he doesn't have on things he doesn't need -- we're done for."
"With the monetary system we have now, the careful saving of a lifetime can be wiped out in an eyeblink.”
"When a government is dependent upon bankers for money,
Money has no motherland;
financiers are without patriotism
"I wouldn't go to war again as I have done to protect some lousy investment of the bankers. There are only two things we should fight for. One is the defense of our homes and the other is the Bill of Rights.
War for any other reason is simply a racket."
Major General Smedley Darlington Butler USA (1881-1940) from a speech in 1933
"There is nothing left now for us but to get ever deeper and deeper into debt to the banking system in order to provide the increasing amounts of money the nation requires for its expansion and growth.
Our money system is nothing better than a confidence trick...
The "money power" which has been able to overshadow ostensibly responsible government is not the power of the merely ultra-rich but is nothing more or less than a new technique to destroy money by adding and withdrawing figures in bank ledgers, without the slightest concern for the interests of the community or the real role money ought to perform therein...
to allow it to become a source of revenue to private issuer's is to create, first, a secret and illicit arm of government and, last, a rival power strong enough to ultimately overthrow all other forms of government.
...An honest money system is the only alternative."
"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it."
"The entire taxing and monetary systems are hereby placed under the U.C.C. (Uniform Commercial Code)"
“The bank hath benefit of interest on all moneys which it creates out of nothing.”
“Banking doesn’t involve fraud, banking IS fraud.”
from video by Paul Grignon done for United Financial Consumers (2002)
Cree Indian Proverb, unsourced , probably made up by some T-shirt designer but does it matter?
When the people of the world have a common monetary language, completely freed from every government, it will so facilitate and stabilize exchange that peace and prosperity will ensue even without world government.
Neither a borrower nor a lender be.
“Money is the Measure by which Goods are Valued,
Every thing receives a Value from its use,
Money is not the Value for which Goods are exchanged,
~John Law, political economist, 1705
“ We cannot solve our problems with the same thinking we used when we created them.”
“I am enough of an artist to draw freely upon my imagination. Imagination is more important than knowledge. Knowledge is limited. Imagination circles the world.”
The equal right of all men to the use of land is as clear as their equal right to breathe the air--it is a right proclaimed by the fact of their existence. For we cannot suppose that some men have a right to be in this world, and others no right.
~ Henry George Progress and Poverty (bk. VII, ch. I)
As long as we cling to the superstition that we must look to government
We can control government and our own destiny only through our money power and until we exert that power it is useless for us to debate the pros and cons of political programs.
~ E.C. Riegel The Surprise Weapon, Private Enterprise Money, 1944
from Tragedy & Hope 1966 pg 324 by Professor Carroll Quigley (1910-1977)
• Professor of History at Georgetown University
• member of the Council on Foreign Relations (CFR)
• mentor to Bill Clinton
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 meetings and conferences.
The apex of the systems was to be the Bank for International Settlements in Basel, 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.
Only a revolution in the mind of the individual is needed to accomplish the greatest stroke for freedom of all time.
It is a remarkable fact that no constitution of any state, nor any declaration of human rights, has ever proclaimed the right of freedom of money issue. Yet this right is inseparable from the right of bargain or exchange, which is the very foundation of liberty.
Man's ignorance of the laws of money has blinded him to the very touchstone of freedom.You are indeed sovereign, if you but realize that your money power is your sovereign power.
You need no political laws to liberate your power for prosperity and peace; you are the master of your fate by natural law, if you but discover that law.
As you scan the world scene with all its miseries, its drab outlook, the discouraging prospect of a solution for humanity's problems by political means, and the remoteness from you of the capitols through which promised salvation is desperately hoped for,you are saddened by a sense of frustration.
But if you realize that the citadel of power is your own home and that yours is the majesty and sovereignty, sadness will be dispelled by gladness. To bring this transformation, you must comprehend the power of money and that you are the money power.
To trade goods and services is a natural right of all people.
We need not beg for money. We do not need to be money slaves: we can be money masters.
In nature's economy the currency is not money ... it is life.
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