SO, WHO HAS WRITTEN TO THE BANK OF ENGLAND?

Last week I posted a quote from a former Director of the Bank of England, Sir Josiah Stamp, in which he describes in plain English how our banking system works.

"Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits".- SIR JOSIAH STAMP,(President of the Bank of England in the 1920's so he should definitely know)

In case you still cannot grasp how much of a fraud our banking system is, here is an example;

A bank, The Bank of Fraud, has one gold bar in its vault worth £100, and does not have any debts owed to it to call upon. Mr X asks the bank for a loan of £100, the bank agrees and issues a promissory banknote for £100 to Mr X.

Mrs Y also asks the bank for a loan of £100, the bank agrees and issues a promissory banknote for £100 to Mrs Y.

Each loan agreement would give the bank £7 in interest, so that the total repayment is £107.

So now Mr X and Mrs Y each owe the bank £100.

Now Mr X and Mrs Y begin to repay The Bank of Fraud with interest, so that when the loans have been repaid in full The Bank of Fraud has £314 (= £100[gold] + £107 +£107) all from one gold bar worth £100.

Is this the biggest fraud you have ever seen in your life?

To issue the 'loans' (and the word is used in its losest definition) the bank does not have any other debts to call on, and does not get the money from anywhere else e.g. selling assets. It simply has printed two promissory banknotes each for £100 thereby 'creating' £200 (for at the beginning there was only the one bar of gold worth £100).

Question; to whom does the gold bar belong?
The gold bar has stayed in the bank's vault, so the bank has physical control of the gold bar. But the bank also issued promissory banknotes to Mr X and Mrs Y.

What if Mr X and Mrs Y leave the bank and immediately pass the notes onto Mr A and Mrs B in exchange for goods/services. But then the economy crashes, and Mr A and Mrs B arrive at the doors of The Bank of Fraud and demand payment (for the notes are promissory notes to pay £100 in gold). The Bank of Fraud only has £100 in gold, but Mr X and Mrs Y 'owe' the bank £100 each. So the bank demands immediate repayment of half of each loan in gold, and in order to do this Mr X and Mrs Y must each sell all their belongings and they are left penniless. But they still owe The Bank of Fraud £50 each, and the bank will not accept bankruptcy, but will accept bonded slavery.

Thus Mr X and Mrs Y believing they were 'loaned' £100 each have now become slaves to The Bank of Fraud.

What exactly did the bank 'loan' to Mr X and Mrs Y?

Is the word 'loan' used erroneously?

Has the bank deceived Mr X and Mrs Y into believing that control and/or ownership of the £100 bar of gold has been transferred to them, when it has not?

And what happens when we live in a cashless society when electronic money is the only 'money' there is?

But also imagine this; what if Mr Z is a bad, bad man, and will do anything for money, including start a war which will help the owners of The Bank of Fraud to increase their control? The Bank of Fraud can issue Mr Z with a 'loan' by issuing a promissory note. Mr Z can then spend that 'money' by buying weapons and paying agents to start a war. The people Mr Z pays can then ask The Bank of Fraud for repayment, and The Bank of Fraud can then ask its debtors to repay their loans, and some may even end up in bonded slavery to the bank. The war does what it was supposed to do and the owners of The Bank of Fraud have increased their control. And they can easily write off Mr Z's debt so Mr Z owes the bank nothing!

This is basically what has happened and is happening.

The Bank of Fraud can issue money to whoever it likes and for whatever purpose it likes!