Blog/America's Economic History
Posted May 19, 2015 by Martin Armstrong
Mayer Amschel Rothschild, founder of the Bank of Rothschild, is commonly misquoted to have said: “Let me issue and control a nation’s money and I care not who writes the laws”. That is very nice and quaint, but times have changed. In those days money was coin. What the Rothschilds really controlled was not so much money, but debt. They were the lenders to the Princes of Europe. They funded wars for profit.
Moving toward electronic money brings the risk of nationalization of banks. If government wakes up and stops the borrowing, then the banks lose their power over debt. Even in the Middle East, banks are telling government to issue bonds even when they do not need to borrow. This is to expand the power of banks, not to do anything beneficial for society.
If we continue down this road of economic implosion, then the socialists will demand government seizes all control just as Gordon Brown is promising in Britain. Despite the fact there is no precedent for anyone to eliminate the business cycle, Brown’s pronouncement will be as always, government will save the day when they have routinely destroyed society throughout history with their greed and corruption. The socialists just hate anyone who has more than they do and it is more about robbing other people than learning how to really manage society.
The socialist will argue to nationalize all banks, and the banks will end up being their own worst enemy for all they care about is profit on the next transaction. It would be very nice to split the world and say all those who are socialist go live there and those of us who do not desire to be your economic slave, or believe that the Ten Commandments prohibit socialism outlawing coveting their neighbor’s goods, should equally be allowed to leave. After all, that is why people fled Europe and traveled to America for it was the freedom and land of opportunity. The socialists have destroyed America and turned it into the land we once fled.
No one has a right to suppress the other for that is what makes war. This trend against banking will lead to the nationalization of banks for the debt is now consuming nations and compelling them to act ruthlessly and tyrants. They will now move to control all accounts and nobody will be able to buy or sell anything without government approval.