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Free issue of MICHAEL

The following article was first published in

1939. A lot of information comes from the book

of Gertrude Coogan, “Money Creators,” pub-

lished in 1935. Ms. Coogan died mysteriously at

age 29, shortly after this book’s publication.

The current banking system is pure ban-

ditry: anyone who bothers to study the issue

(the creation of money-debt credit by banks and

absolute control of the medium of exchange by

banks), cannot doubt it. But it is nevertheless a

legalized banditry, that is to say, banks act within

the “legal” limits of their charter, while leading

this racket for the benefit of a small clique of indi-

viduals thriving on the backs of the public. Their

charter is a law granted by the sovereign gov-

ernment to a machine that is bleeding and kills


Since the Renaissance and Protestant

Reform, we find people opening offices to lend

money and, through usury, managing to control

the money supply of the countries where they

operate. The holders of gold quickly learned to

commercialize the credulity of the ignorant public

and to lend to them what they did not have in the

first place. (

See the article “The goldsmith who

became a banker” on page 15

.) Gold remained

in their vaults; receipts of those who entrusted

their gold to the bankers circulated alongside

gold itself and was just as profitable.

Legalization of banditry

In 1694 these bankers legally obtained the

right to manufacture and lend at interest money

to the sovereign government as well as to indi-

viduals. That year, King William III of England

needed money to wage war. Since the revolu-

tion of 1688, a company of rich men using the

name of “Company of the Bank of England”, led

by William Paterson, had established themselves

in London. We quote from

The Breakdown of


, by Christopher Hollis :

“In 1694 the Government of William III was

in sore straits for money. A company of rich

men under the leadership of one William Pater-

son offered to lend William £1,200,000 at 8 per

cent on the condition that ‘the Governor and


Louis Even

Who are the REAL rulers of the world?

The monster of the banking system is taking control of all real wealth