Page 32 - Lunacy and the Age of Deception

the banking powers, is the following.

Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have
had men watching you for a long time, and am convinced that you have used the funds of the bank
to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you,
and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank
and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your
sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are
a den of vipers and thieves. I have determined to rout you out, and by the Eternal I will rout you out!

With the dissolution of the Second Bank of the United States in 1836, American society entered into
a period of its history where no central bank existed. This banking era was altered in 1863 when the
National Banking Act was passed. Note that this occurred in the midst of the American Civil War.
Wars have always been beneficial to banks and big business. This bill did not create a central bank
like the First and Second Banks of the United States. However, it did establish federal regulations
for the oversight of banks. Before the bill passed, each state had its own set of banking guidelines.
In order to induce banks to come under the oversight of the Federal government, a tax of 10% was
imposed upon state bank currency. This drove many state chartered banks to convert to national
banks. By 1870 there were 1,638 national banks in the United States and only 325 state banks. The
change in the financial character of America from state to federal control mirrored the shift of power
that was taking place as the sovereignty of individual states was declining in the face of a massively
expanding federal government.

Despite the fact that no central bank existed in the United States during this period, an immense
financial power began to emerge. This financial power consisted of interlocking bank relationships
in the United States, many of which had relationships with foreign banks, or were controlled by
them.

JP Morgan
(Photographed by Edward Steichen in 1903. A trick of light was used to make the chair’s armrest
appear as a dagger.)

By the early 1900s the immense wealth and power of the private bankers began to alarm members
of Congress. In 1912 a congressional committee was convened to examine what was referred to as
the “money trust.” J.P. Morgan was the leading figure of the money trust. J.P. Morgan, Chase & Co.
is one of the leading financial corporations in the world today. Following is an excerpt from