1,000,000 MUST WATCH - America's ECONOMIC COLLAPSE is Closer Than You Think (this explains a lot)
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All three of the Abrahamic religions teach that lending to the poor is an act of compassion that serves the entire community, and therefore, charging interest was seen as immoral. It was called usury and was considered a heinous crime. The Roman Empire allowed usury, but in 1179, the Catholic Church decreed that usury was forbidden. This law did not apply to Jews. While the Torah admonishes usury, Talmudic law allows a Jew to practice usury with a non-Jew, and so money lending became primarily a Jewish business. Over the years, usury became more accepted in Western society, and we've changed the definition with the addendum of charging interest at an excessive rate. In the 17th century, the Bank of England began issuing paper fiat money. This gave the banks the ability to simply print money out of thin air, and for over a century, this was rightfully called out as fraud, until it became public policy, known now as fractional reserve banking. What was once seen as immoral is now seen as normal. Many assume that the financial loans given out by the banks are coming from savings they hold for their depositors, but this is not true. When someone takes out a loan, the bank creates new money out of thin air, and then charges the person interest to borrow it. Fractional reserve banking allows the banks to legally create ten times the amount of each deposit. This inflating of the circulating currency devalues that currency, and allows the banks an opportunity to profit dramatically. The Federal Reserve Act of 1913 began a system of debt designed to inflate beyond its means until it implodes, the exact opposite of sound money. The banking cartel funded both sides of World War I, which led to the Great Depression, which led to the Emergency Banking Act of 1933, which ended the gold standard, and made every dollar spent an IOU to further increase the debt, which is ultimately owed by the American people. The banking cartel funded both sides of World War II, which led to the Bretton Woods monetary system, which made the USD the world reserve currency, and gave central banks the option to go straight to the gold window of the US Treasury to exchange US dollars for physical gold. But by endlessly creating more debt, it became clear that the US had printed far beyond their gold reserves. And when several nations came to collect their gold, the federal government dishonorably closed the gold window.
Speaker Greg Reese
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