Six Reasons Why We Believe These Are the Last Days – Reason Four – The Global Economy
By Jack Kinsella
In medieval times, there were no banks where peasants could safely store their small amounts of gold and silver. It became the practice to store that hard money at the local metalsmith/jeweller who had a secure safe.
The jeweller would issue paper receipts, which could conveniently be exchanged instead of hard money for small transactions. Hence, the term ‘good as gold’.
The jeweller noticed that he usually had on hand more gold at any given time than he needed to meet withdrawal demands. He began to issue extra receipts, which he loaned out at interest.
As long as everybody didn’t show up at the same time, the theft went unnoticed as the jeweller lent out money he didn’t have and collected real wealth in the form of interest in return.
Over the years, the practice evolved into what is today the fractional banking system.
The fractional reserve system is the discounting system employed by national central banks. It is also a massive fraud. I’m not here to debate the rightness or wrongness of it or to tilt at windmills. I’ll just briefly outline the facts.
The Federal Reserve system is neither ‘federal’ or a ‘reserve’. It is an internationally held private banking consortium. All banks in the Federal Reserve System become Federal Reserve banks by buying Federal Reserve stock.
The largest concentrations of stocks are held by five major US banks who are in turn owned by the international money trust.
Attempts to seize control of the US central bank of issue by the European Money Trust resulted in the US Revolutionary War, the War of 1812, the Banking Panic of 1837, the US Civil War, and the banking panics of the 1890’s and 1906.
(This is incredibly interesting stuff, but it is really detailed. Space doesn’t allow for a full explanation, but I will put together a much expanded version in a later Omega Letter report. For now, I have to hit the high points in order to connect the dots to Scripture for the purposes of this series.)
The seizure of control was accomplished by the 1913 passage of the Federal Reserve Act, written by a German immigrant named Paul Warburg. Warburg was the Fed’s first governor, from 1913 to 1918.
Paul’s brother was Max Warburg, head of the German Secret Service. A partner in their joint banking firm was the head of British intelligence. When the war ended, all three met again in Paris to hammer out war reparations against Germany. The bank selected to handle the transfer of wealth from Germany was the neutral Swiss Bank of International Settlements, headed by brother Fritz Warburg.
Warburg, Kuhn and Loeb are major stockholders in the Fed, and many of the names of European banking aristocracy control major stock control via proxy through offspring US banks.
The Federal Reserve system removed the US from a barter system to a debit system. A barter system was one in which currency was backed by gold. For every dollar issued, there was a dollar’s worth of gold in the treasury. (Remember the jeweller?).
In the debit system, the Fed issues fiat dollars to control the economy, but each one is worth fractionally less, since it is just a case of cutting smaller slices from the pie.
That is what creates inflation. The Fed controls inflation by either cutting back or increasing the supply of dollars.
But it is still theft, albeit legal. In 1914, a good suit cost a $20 gold piece. Today, the same suit costs $500 — or the same $20 gold piece.
Since there is no wealth backing today’s money, there is no need to actually issue currency. Paper currency is a temporary measure to create the illusion of wealth. Now that everybody knows the truth but apparently nobody cares, the illusion is unnecessary.
(How much cash do YOU carry compared to your use of debit and credit cards? Me too. It’s convenient, isn’t it?)
Here are a few numbers to crunch. There is about $48 billion worth of gold in the US Treasury.
The US national debt is around $17 trillion.
So? Let’s turn those billions and trillions into something easier to understand. A million seconds equals twelve days. A billion seconds equals thirty-two years. ($48 billion in gold, remember)
A trillion seconds equals THIRTY-TWO THOUSAND YEARS! The US national debt is $17 trillion!
That kind of impossible debt is what makes the most powerful man in the United States the Chairman of the Fed, not the President. When the Fed says jump, EVERYBODY from the president of the US to the president of the local branch bank asks, “how high?” The Fed Chairman can tank the market with a word, and tank the whole economy with the stroke of his banker’s pen.
All the world’s central banks are centralized again as members of the UN’s central banking scheme via the IMF and World Bank systems.
The central banking scheme is part of a larger global system that came into being under the UN General Agreement on Tariffs and Trade (GATT) signed in 1948. The GATT agreement eventually became today’s World Trade Organization (WTO)
I hope you are following all of this. I had to skip over a lot to make to this point without having to do a series just on this single topic. Here is where we connect the dots.
The truly global economy was born simultaneously with the Computer Age that made it possible. The Computer Age officially began with the invention of the transistor by Bell Labs in 1948. There were computers before that, but before the transistor, they weren’t reliable enough to be practical.
The centralization and integration of the US economy was replayed throughout the industrialized world. Cash is a global anachronism. The only logical next step is electronic money.
Two thousand years ago, John recorded the antichrist’s principle method of maintaining control of his government.
“And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. (Revelation 13:16-17)
It was never possible in any generation in history. Until this one. And, from our vantage point at this moment in history, it seems like the next logical step.