The Money Key

This is an index to essays, reports, book reviews and news about money and land reform. Below the index are headlines with intros to main issues.

Philosophy of Money What is Money?/

Reflections on Karl Polanyi's 1943 book "Great Transformations"

21.04.2010 [Money]
Renaissance of Respublica
Dr Peter Bowman, tutor at School of Economic Science, and member of the Council of Management of Henry George Foundation reflects on Karl Polanyi's 1943 book "Great Transformations" which explores what happened to sow the seeds of self-destruction in our present monetary system. Polanyi's thesis is that it was a deception.

It was the pretence that the primary elements of the economy, namely land, labour and credit, are commodities that can be traded in the market in the same way that actual commodities can. He pointed out that these primary elements of the economy are patently not commodities in that they are not man-made goods. [Read more]

Money Quotes

"The entire taxing and monetary systems are hereby

placed under the U.C.C. (Uniform Commercial Code)."

-- The Federal Tax Lien Act of 1966

"The few who understand the system, will either be so

interested from it's profits or so dependant on it's

favors, that there will be no opposition from that


-- Rothschild Brothers of London, 1863

"Give me control of a nation's money and I care not

who makes it's laws."

-- Mayer Amschel Bauer Rothschild

"Most Americans have no real understanding of the

operation of the international money lenders. The

accounts of the Federal Reserve System have never been

audited. It operates outside the control of Congress

and manipulates the credit of the United States."

-- Sen. Barry Goldwater (Rep. AR)

"Whoever controls the volume of money in any country

is absolute master of all industry and commerce."

-- James A. Garfield, President of the United States

"Banks lend by creating credit. They create the means

of payment out of nothing."

-- Ralph M. Hawtrey, Secretary of the British Treasury

"To expose a 15 Trillion dollar ripoff of the American

people by the stockholders of the 1000 largest

corporations over the last 100 years will be a tall

order of business."

-- Buckminster Fuller

"Every Congressman, every Senator knows precisely what

causes inflation...but can't, [won't] support the

drastic reforms to stop it [repeal of the Federal

Reserve Act] because it could cost him his job."

-- Robert A. Heinlein, Expanded Universe

"It is well that the people of the nation do not

understand our banking and monetary system, for

if they did, I believe there would be a revolution

before tomorrow morning."

-- Henry Ford

"The regional Federal Reserve banks are not government

agencies... but are independent, privately owned and

locally controlled corporations."

-- Lewis vs. United States, 680 F. 2d 1239 9th Circuit


"We have, in this country, one of the most corrupt

institutions the world has ever known. I refer to the

Federal Reserve Board. This evil institution has

impoverished the people of the United States and has

practically bankrupted our government. It has done

this through the corrupt practices of the moneyed

vultures who control it."

-- Congressman Louis T. McFadden in 1932 (Rep. Pa)

"The Federal Reserve banks are one of the most corrupt

institutions the world has ever seen. There is not a

man within the sound of my voice who does not know

that this nation is run by the International bankers."

-- Congressman Louis T. McFadden (Rep. Pa)

"Some people think the Federal Reserve Banks are the

United States government's institutions. They are not

government institutions. They are private credit

monopolies which prey upon the people of the United

States for the benefit of themselves and their foreign


-- Congressional Record 12595-12603 -- Louis T.

McFadden, Chairman of the Committee on Banking and

Currency (12 years) June 10, 1932

"[Every circulating FRN] represents a one dollar debt

to the Federal Reserve system."

-- Money Facts, House Banking and Currency Committee

"...the increase in the assets of the Federal Reserve

banks from 143 million dollars in 1913 to 45 billion

dollars in 1949 went directly to the private

stockholders of the [federal reserve] banks."

-- Eustace Mullins

"As soon as Mr. Roosevelt took office, the Federal

Reserve began to buy government securities at the rate

of ten million dollars a week for 10 weeks, and

created one hundred million dollars in new [checkbook]

currency, which alleviated the critical famine of

money and credit, and the factories started hiring

people again."

-- Eustace Mullins

"Should government refrain from regulation (taxation),

the worthlessness of the money becomes apparent and

the fraud can no longer be concealed."

-- John Maynard Keynes, "Consequences of Peace."

"By this means government may secretly and unobserved,

confiscate the wealth of the people, and not one man

in a million will detect the theft."

-- John Maynard Keynes (the father of 'Keynesian

Economics' which our nation now endures) in his book


"These 12 corporations together cover the whole

country and monopolize and use for private gain every

dollar of the public currency..."

-- Mr. Crozier of Cincinnati, before Senate Banking

and Currency Committee - 1913

"A great industrial nation is controlled by it's

system of credit. Our system of credit is concentrated

in the hands of a few men. We have come to be one of

the worst ruled, one of the most completely controlled

and dominated governments in the world -- no longer a

government of free opinion, no longer a government by

conviction and vote of the majority, but a government

by the opinion and duress of small groups of dominant


-- President Woodrow Wilson

"We are completely dependant 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....

It is the most important subject intelligent persons

can investigate and reflect upon. It is so important

that our present civilization may collapse unless it

becomes widely understood and the defects remedied

very soon."

--Robert H. Hamphill, Atlanta Federal Reserve Bank

"The Federal Reserve Banks are not federal


-- Lewis vs. United States, 9th Circuit 1992

"The Federal Reserve banks, while not part of the


-- United States budget for 1991 and 1992 part 7, page


"The Federal Reserve bank buys government bonds

without one penny..."

-- Congressman Wright Patman, Congressional Record,

Sept 30, 1941

"The Federal Reserve system pays the U.S. Treasury

020.60 per thousand notes -- a little over 2 cents

each -- without regard to the face value of the note.

Federal Reserve Notes, incidently, are the only type

of currency now produced for circulation. They are

printed exclusively by the Treasury's Bureau of

Engraving and Printing, and the $20.60 per thousand

price reflects the Bureau's full cost of production.

Federal Reserve Notes are printed in 01, 02, 05, 10,

20, 50, and 100 dollar denominations only; notes of

500, 1000, 5000, and 10,000 denominations were last

printed in 1945."

-- Donald J. Winn, Assistant to the Board of Governors

of the Federal Reserve system

"Neither paper currency nor deposits have value as

commodities, intrinsically, a 'dollar' bill is just

a piece of paper. Deposits are merely book entries."

-- Modern Money Mechanics Workbook, Federal Reserve

Bank of Chicago, 1975

"This [Federal Reserve Act] establishes the most

gigantic trust on earth. When the President [Wilson}

signs this bill, the invisible government of the

monetary power will be legalized.... the worst

legislative crime of the ages is perpetrated by this

banking and currency bill."

-- Charles A. Lindbergh, Sr., 1913

"From now on, depressions will be scientifically


-- Congressman Charles A. Lindbergh Sr., 1913

"The financial system has been turned over to the

Federal Reserve Board. That Board asministers the

finance system by authority of a purely profiteering

group. The system is Private, conducted for the sole

purpose of obtaining the greatest possible profits

from the use of other people's money."

-- Charles A. Lindbergh Sr., 1923

"The [Federal Reserve Act] as it stands seems to me to

open the way to a vast inflation of the currency... I

do not like to think that any law can be passed that

will make it possible to submerge the gold standard in

a flood of irredeemable paper currency."

-- Henry Cabot Lodge Sr., 1913

"When you or I write a check there must be sufficient

funds in out account to cover the check, but when the

Federal Reserve writes a check there is no bank

deposit on which that check is drawn. When the Federal

Reserve writes a check, it is creating money."

-- Putting it simply, Boston Federal Reserve Bank

"There is a distinction between a 'debt discharged'

and a debt 'paid'. When discharged, the debt still

exists though divested of it's charter as a legal

obligation during the operation of the discharge,

something of the original vitality of the debt

continues to exist, which may be transferred, even

though the transferee takes it subject to it's

disability incident to the discharge."

-- Stanek vs. White, 172 Minn.390, 215 N.W. 784

"I have never seen more Senators express discontent

with their jobs.... I think the major cause is that,

deep down in our hearts, we have been accomplices in

doing something terrible and unforgiveable to our

wonderful country. Deep down in our heart, we know

that we have given our children a legacy of

bankruptcy. We have defrauded our country to get

ourselves elected."

-- John Danforth (R-Mo)

"Capital must protect itself in every way...Debts must

be collected and loans and mortgages foreclosed as

soon as possible. When through a process of law the

common people have lost their homes, they will be more

tractable and more easily governed by the strong arm

of the law applied by the central power of leading

financiers. People without homes will not quarrel with

their leaders. This is well known among our principal

men now engaged in forming an imperialism of

capitalism to govern the world. By dividing the people

we can get them to expend their energies in fighting

over questions of no importance to us except as

teachers of the common herd."

-- Taken from the Civil Servants' Year Book, "The

Organizer" January 1934

Founding Father's Quotes on Banking (Maybe some

repeats from "Founding Father's Quotes" / Information

tends to converge)

"I believe that banking institutions are more

dangerous to our liberties than standing armies.

Already they have raised up a monied aristocracy that

has set the government at defiance. The issuing power

(of money) should be taken away from the banks and

restored to the people to whom it properly belongs."

-- Thomas Jefferson

"If Congress has the right [it doesn't] to issue paper

money [currency], it was given to them to be used

by...[the government] and not to be delegated to

individuals or corporations."

-- President Andrew Jackson, Vetoed Bank Bill of 1836

"History records that the money changers have used

every form of abuse, intrigue, deceit, and violent

means possible to maintain their control over

governments by controlling money and it's issuance."

-- James Madison

Web sites

Current financial market news

Money reformers

How America Became an Oligarchy

The politicians are put there to give you the idea that you have freedom of choice. You don’t. . . . You have owners.                                                                                                — George Carlin, The American Dream
According to a new study from Princeton University, American democracy no longer exists. Using data from over 1,800 policy initiatives from 1981 to 2002, researchers Martin Gilens and Benjamin Page concluded that rich, well-connected individuals on the political scene now steer the direction of the country, regardless of – or even against – the will of the majority of voters. America’s political system has transformed from a democracy into an oligarchy, where power is wielded by wealthy elites. Continue reading 

One mountain - many paths & views

What about sharing your ideas, concerns & opinion on why you have chosen to  join with others on the Green Party's path towards a better world?

Mid Devon, Exeter and East Devon Green Parties invite you to a


Wednesday  ....   15th April 2015
7pm till 9pm

The Real Food Cafe 
Paris Street
Exeter EX1 2JB

The Party is growing fast. The policies that will be selected to campaign on for the coming election will be announced soon. Not everyone will be 100% in agreement with the selection chosen. We need to engage both new members and the non involved in our quest to discover what motivates you and how you may like to be involved. 

Traditional “business meetings” and political policy committees can be tiresome and frustrating. The “Listening” is simply to offer you opportunity to speak your mind in a congenial space.

There will be small groups, five to seven GP members, in a circle with one experienced party member to facilitate and advise, as best they can, on GP policies.  After introducing yourself you can “talk your politics” the circle can agree to discuss what arises or  not. After 35 minutes we all shift around to new circles as you wish. The only rule is there are no rules except to respect each other. If you want to leave your circle that's fine but not to disturb another or take two bites at blowing your trumpet in one session of circles. Mingle with other unengaged souls, have a cup of tea, respect the santity of the ongoing circles.  There will be two sessions with brief feed back to everyone, if desired, from each circle after each session. Then a general cup of tea space and time to mingle or not. No political speeches, no call to work, no call to action.

The spirt of the event is to accept we all have different knowledge sets, different experience in group dialogue and different characters. We are all one but we are not all the same. We know there are doves and hawks. The bottom line is you all get as fair a share of time as possible to express yourself. We are all considering one mountain but know their are many paths.

As a starting point you may wish to reflect on a recent “Introduction to Green Politics” by Peter Barnett of the Executive Committee.


“From early on, the Greens recognized that  the system 
under which we live is the root cause of all the problems"

 "and no amount of reforms 
will change that.”

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