We Hold These Truths
Export date: Sun Mar 26 11:01:12 2017 / +0000 GMT
Co-op Bank Movement Alive & Well
Public Banks can compete the with Central Bank (FED) cabal
The Public Banking Institute 1 (PBI) is a unique citizens' volunteer organization with a mission, writes WHTT Editor Chuck Carlson: It is trying to teach us how to protect our wealth from debasement and confiscation by monopoly central banking. PBI explains what our privately-owned banks should be doing, and don't do, because they don't have to. Ellen Brown, founder of the twelve year old PBI movement, has showcased an insightful story, What Donald Trump Owes Wall Street 2, explaining why we taxpayers should be concerned about President Trumps undeclared debts, owed to many of the same privately owned banks where we deposit our savings. But it has a much bigger story to tell us. PBI supports the almost forgotten idea that banks can be, and many should be owned by state and local governments, acting like credit unions or financial co-ops.
In contrast to privately owned banks, "publicly owned" banks, (yes, there is presently one major one in the USA) are controlled by the voters as cooperative efforts between those who have cash to lend and those who need capital. According to Ellen Brown's 2013, 471 page powerful book, The Public Banking Solution 3, over 20 states and municipal governments are attempting to form public banks, but as expected they are met with powerful organized resistance.
PBI explains that we Americans presently have to deal with a giant privatized banking monopoly, controlled not at any US government voter level, but institutionalized under an international cabal of private central bankers, world wide. This is why yours or my savings account of tens of thousands of dollars may earn only 10 cents a month!
Chief of these money control central banks is the privately-owned Federal Reserve system (FED) that protects the territory of huge private banks we know, including J. P Morgan, Goldman Sacks, CITI Bank and Wells Fargo. The FED is connected, in ways we are not allowed to understand, to other international central banks, including the Bank of England and the BIS, that set the rules and practices of "member banks." Worst of all, from We Hold These Truths' point of view: Central Banks Fund Serial Wars!
The Public Banking Institute details the only major "public bank" in the USA, The State Bank of North Dakota 4, formed outside the central bankers' monopoly control in 1919 after a farmers' depression. Not one in a thousand of us has ever heard of it. How did North Dakota accomplish this miracle when no other state has? Because small businesses and farmers of North Dakota controlled the politics of the state and could force this measure through their legislature. This could be accomplished in a state with about half a million population, many of them independent farmers who had reason not to trust bankers in 1919.
A bit of history, since day one in our Republic, Tory Interests loyal to England sought to dominate banking by forming a central bank and getting Congress to grant it a monopoly. It was called The First Bank of the United States, formed in 1791 with the influence of Alexander Hamilton, the first Secretary of Treasurer, who is currently lionized in a Broadway stage play by his name. Hamilton may have been the first politician to introduce the new Republic to a central banking scheme. He is thought to have been working for others and functioned, knowingly or benignly, as an unofficial agent for the Bank of England, the UK's privately-owned central bank. PBI writes that Hamilton was promoted to office by England, in an attempt to regain control of America through banking. Force of arms had failed England during the America RevolutIon for freedom. Central banking was to succeed.
The struggle for monopoly control of banking has been long and hard-fought, but England finally won in 1913, with the passage of the Federal Reserve Act. At least that's the current score. PBI founder, Ellen Brown, is determined to reverse it, and I want you to know about her.
The Public Banking Institute teaches that the State Bank of North Dakota functions like a co-op for public banking, managed by an appointed board and staff. There is no other bank like it America, but there should be, and people in ND should be justly proud. PBI tells us citizens can follow North Dakota's example if they have the will.
We may never know the secrets behind Alexander Hamilton's political connections, but we should look hard at Donald Trump--and the PBI is doing just that.
PBI quotes several sources in its story, "What Donald Trump Owes Wall Street" 5, including The Atlantic Monthly and The Wall Street Journal, that explain why Donald Trump, though he may not know it, is beholden to the same privatized banking powers who have controlled the Bush family for generations, as well as most of our past presidents. And, it provides a good explanation of why Donald Trump will not release his tax returns or financial statements: It's not because of how rich Trump is. No, it's because of how much he owes to the powerful international bankers. Debts are Donald Trump's secret--and his possible embarrassment. Bottom line, he owes the people who control the Federal Reserve system. PBI quotes from an article in The Atlantic. After you read them, you may want to check their source and read the rest of the Public Banking Institute story.
"While the president-elect's finances remain murky, due largely to his refusal to release his tax returns, the newspaper reports that he owes at least hundreds of millions of dollars, that the debt is held by more than 150 institutions, and that some of it is backed by his personal guarantee. 'As a result, a broader array of financial institutions now are in a potentially powerful position over the incoming president', it states. 'If the Trump businesses were to default on their debts, the giant financial institutions that serve as so-called special servicers of these loan pools would have the power to foreclose on some of Mr. Trump's marquee properties or seek the tens of millions of dollars that Mr. Trump personally guaranteed on the loans.'"
"Wells Fargo 6 & Co., for example, runs at least five mutual funds that own portions of Trump businesses' securitized debt, according to an analysis of mutual-fund data conducted by Morningstar Inc. for the Journal. The bank also is a trustee or administrator for pools of securitized loans that include $282 million of loans to Mr. Trump. And Wells acts as a special servicer for $950 million of loans to a property that one of Mr. Trump's companies partly owns, according to securities and property filings. Wells Fargo is currently facing scrutiny from federal regulators surrounding its fraudulent sales practices and other issues. Once he takes office, Mr. Trump will appoint the heads of many of the regulators that police the bank."
Whatever I may think of Trump, his business practices, and his debts, this writer agrees with Trump's assessment of the media when he said at a Feb 16, 2017, press conference: “I have never seen more dishonest media, frankly than the political media”. 7 But, unfortunately, the media is not the root of the problem. It only covers for the bigger problem, the money powers that pay for our wars, which President Trump has not said much about. He has said, give him credit, we do not need a war with Russia and we cannot afford one.
We Hold These Truths also agrees with PBI that the central banking monopoly is the base source for corrupting politicians, from Alexander Hamilton in the 18th century to those today. We add to that, the FED has financed every war in the last 110 years, from WWI to this day. We ask you to read the following story, not to join a gossip debate about Donald Trump, but to learn about "central banking and the FED", the secret sponsors of shady politicians and the financiers of serial wars. Full story from The Public Banking Institute here:
Mr. Carlson has been asked by one of We Hold These Truths' long time supporters, "What does banking have to do with WHTT.org's primary purpose, which is to expose America's serial wars as being contrary to every act and word of Jesus Christ."
The answer is simple and clear. Not one of our wars in the last 99 years and 11 months, including two world wars, could or would have happened had it not been for central bank financing, nor was any one war needed. But every war benefits mega-bankers. It took less than four years after the creation of the Federal Reserve Act in 1913, for the USA to be maneuvered into the most bloody war ever, at that time. We have not been without a war in 28 years! Our own articles on central banking include:
Ellen Brown recommends this documentary, "The Bank of North Dakota" 10 that chronicles the Bank of North Dakota's fascinating history and reviews its key role in financing the state's economic future:
Post date: 2017-02-19 17:26:43
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Export date: Sun Mar 26 11:01:12 2017 / +0000 GMT
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