for the Social Credit
An example of banking philosophy
To seize the belongings of all nations and individuals
This is the real reason for poverty in the world
An example of banking philosophy was first published in 1941 by Louis Even and in reading it, one will quickly realize that the plan of the Financiers to seize the people's wealth and the farmers' land has been going on for a long time. But today, one can clearly see that this plan has been fully realized. The people owe all of their country's wealth to the Bankers through national debts, and a majority of the farmers of developed countries have disappeared; those remaining must work night and day to pay interests to the Bankers. Let us all read again this important document that enlightens us all on the real reasons for poverty in the world.
Here is the full text of an article published in the United States Bankers' Magazine in 1892. It was recently re-published in the New Era and in the Social Crediter, where we took it:
“We must go forward cautiously and consolidate each acquired position, because already the inferior social stratum of society is giving unceasing signs of agitation.
“Therefore, prudence dictates to us a line of conduct that seems to give in to the will of the people, until the execution of our plans be well-enough established for us to be able to declare our intentions without having to fear any organized resistance.
“Our confidence men shall have to closely watch the Farmers Alliance and the Knights of Work, and take steps immediately, either to control both associations in accordance with our interests, or to break them.
“Our men will have to attend the Convention that will be held in Omaha on the 4th of July, and be in charge of all activities. Otherwise, this Convention could muster such an antagonism to our plans that we would have to resort to force to overcome it.
Now, at the present time, using violence would be premature. We are not yet ready to confront such an assault. Money must first of all seek maximum protection in schemes and in legislation.
“Let us make use of the courts. Let us go forward as fast as possible at perceiving debts, at foreclosing (depriving of recourse to justice when a certain time limit has been transgressed) on debentures and mortgages.
“When, through the law's intervention, the common people shall have lost their homes, they will be more easy to control and more easy to govern, and they shall not be able to resist the strong hand of the Government acting in accordance with the orders of the central power of imperial wealth, under the control of the leaders of finance.
“Our top leaders are perfectly aware of the truth. They are presently working at establishing an imperialism of the capital to rule the world. But while they are implementing this plan, they must keep the people busy with political antagonisms.
“We'll therefore speed up the question of reform in the custom rates by the political organization called the Democratic Party; and we'll put the spotlight on the question of protection and of the reciprocity by the Republican Party.
“By dividing the electorate this way, we'll be able to have them spend their energies at struggling amongst themselves on questions that, for us, have no importance whatsoever, and on which we only touch upon as instructors of the common flock.
“It is thus that, through discreet acts, we can maintain what was so generously projected and executed with such a remarkable success.”
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Commentaries are unnecessary on a text that speaks for itself. Let us take the date into consideration: 1892 — one year before the crisis of 1893. We now have in our possession three documents relative to this 1893 crisis.
1. The 1891 document, the confidential leaflet of the bankers, encouraging mortgages on properties, in anticipation of the crisis that the bankers would launch a little later on to grab all of the mortgaged properties. Besides, here is the text:
“We are authorizing our loan officers from the Western States to loan on properties, monies repayable by September 1t, 1894. No fatal date is to exceed this date.
“On September 1st, 1894, we shall categorically refuse all loan renewals. On that day, we shall demand the repayment of our money, under penalty of foreclosure on collaterals.
“The mortgaged properties will become ours. (Money will have become scarce beforehand, and the repayments will have become generally impossible.) We'll thus be able to acquire, at a price agreeable to us, two-thirds of the farms west of the Mississippi and thousands more east of this great river.
“We'll even be able to possess three quarters of the western farms as well as all the money in the country. The farmers will then become land tenants only, just like in England.”
2. The above-mentioned 1892 document in which the Bankers expose their philosophy.
3. The March 11, 1893 leaflet, since then called: “The Panic Circular”, addressed by the American Bankers' Association to all national banks throughout the United States:
“The interests of national banks require immediate financial legislation by Congress (the United States Government). Silver, silver certificates, and Treasury bonds (that is to say, all the Government's money) must be retired, and National Bank Notes made the only money.
“This will require the authorization of $500 million to $1 billion of new bonds as the basis of circulation. You will at once retire one-third of your circulation (your paper money) and call in one-half of your loans. Be careful to make a monetary stringency among your patrons, especially among influential businessmen.
“Advocate an extra session of Congress to repeal the purchasing clause of the Sherman Law, and act with other banks of your city in securing a large petition to Congress for its unconditional repeal per accompanying form. Use personal influence with your Congressmen, and particularly let your wishes be known to your senators.
“The future life of national banks, as fixed and safe investments, depends upon immediate action, as there is an increasing sentiment in favor of Government legal-tender notes and silver coinage.”
The very-well organized Bankers' Association won the day over an ignorant public solely organized for political struggles of colours. A special session of the Congress was convened expressly to demolish the ever-increasing confidence of the people towards a government-issued money.
To force the people and the governments to kneel down in front of the banks, an extreme scarcity of money had to be created. The whole of America felt this scarcity. It was the crisis that was called the “Panic of 1893”. Planned in the offices of the makers and the destroyers of money, this crisis sowed ruins and pains in every corner of the country.