A lecture to Strait Gate Ecclesia, 2/15/11
By Charles E. Carlson
Good evening brothers and followers of Jesus\’ teaching.
We should not fear the Muslim Brotherhood; the Central Bankers are a greater threat. Friday, February 11, was a day of jubilation in Egypt. But the revolution has a huge hurdle yet to cross, one that few mentions. Egypt\’s Central Bank, or "Federal Reserve" as we would call it, appears to be still actively in control of Egypt\’s finances.
The Central Bank announced Through the government\’s Minister of Finance, Dr. Samir Radwan, it would provide necessary funds to pay salaries and essentials to keep the economy going. This sounds like good news to the many who receive stipends from the government, but it also means a hidden banking power has ultimate control over Egypt.
This writer does not know who owns Egypt’s Central Bank. Certainly it is not owned by the thousands who protested against the Mubarak government. But the revolution cannot be complete until it is nationalized or abolished.
The Central Bank states on its website:
The CBE is an autonomous public legal person, assuming the authorities and powers vested therein by Law No. 88 for 2003, and the Presidential Decree No. 64 for 2004, Issuing the Statute of the Central Bank. The funds of the Central Bank are considered private funds.
According to its website, the Bank came into existence in 1961, under the first president of Egypt, General Gamal Abdel Nasser Hussein, some 20 years before Mubarak came to power. Nasser may have done some good for Egypt, but he left a privately owned Central Bank for the heroes of Tahrir Square to deal with.
The much maligned Muslim Brotherhood was in existence in 1928 to oppose British occupation 33 years before "The Bank." Nasser suppressed and tried to dissolve the Brotherhood, as did each subsequent president, including Mubarak, but it seems no one challenged The Bank.
The Egyptian people are a step ahead of we Americans, they have organized and taken to the streets; we have not. I can only hope brave Egyptians have an informed leadership that understands the Central Bank; complacent Americans are a long way from understanding the financial power that controls us by opening and closing the money spigot.
A story often told is that when leaving the Constitutional Convention, Benjamin Franklin was asked by a citizen, “Well, what kind of government have you given us?” And Franklin replied, "a Republic, if you can keep it."
The United States began as a "republic" and did keep it for a while, with some bending and twisting. But it ended on Christmas Eve in 1913 when Congress was fooled into passing the Federal Reserve Act, signed into law by President Wilson.
Today there seem to be two flavors of "Central Banks" – privately-owned and controlled ones as like ours and England\’s, and a few publicly-controlled ones, such as those in China, Venezuela, and Iran, where the government pretends to do business like the US, but where actual control of the Bank is in the hands of whoever controls the government.
Let us pray that those who lead the revolution in Egypt, and we suspect the Muslim Brotherhood is a large part of it, will use their power to end Central Bank control. Without this, a representative government cannot long succeed.
Maybe Americans will someday follow suit.
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