Mark West
1913, Part 1
By Mark West
Pivotal moments affect every nation. Originating from crises that are both external and internal in nature, these moments demand critical attention.
Unfortunately, history is littered with crisis after crisis contrived only to advance an agenda. An ever-increasing interventionism is at the heart of that agenda. How many politicians have you heard say, "from chaos comes order"?
United States' pivotal year was 1913, culminating in a Congressional coup-d'état. Follow me as I detail the takeover timeline.
While breaking from English control, many founding fathers still favored the private central banking construct of London. Beginning with the Bank of North America in 1781, this group led by Robert Morris established the first central bank in the history of the United States.
Four years later the bank was shut down due to massive corruption.
Six years later Alexander Hamilton spearheaded another movement establishing the First Bank of the United States. Strident opposition was found in Thomas Jefferson who knew the danger of corruption involved in financial speculation and manipulation. Five years later Congress chartered the Second Bank of the United States, a copy of the first.
Twenty years later, President Andrew Jackson fought for the American people in destroying this bank with corruption again being the culprit. The ability to manipulate finances through market speculation bred corruption, as Jefferson warned.
A quarter-century of freedom from central banks was enjoyed by the populace until the Congressional coup began with the National Banking Act of 1863 which again centralized national banking operations into private banking institutions.
Prior to this, banking was governed by State banks that would issue currency. Currency issued had to be backed by appropriate reserves and could be exchanged for value with other State banks. The NBA of 1863 centralized this process with a charge to the State banks of 10% for currency exchange effectively eviscerating profitability for these banks.
Imperfections created by the NBA of 1863, namely with liquidity (sound familiar), led to the Panic of 1907. Government economic manipulation led to a crisis. A crisis led to a fervent public outcry for economic stability. Public outcry was capitalized on by the government to intervene and gain more control.
How would they do it?
We'll discover this in part 2!
Restore the Republic!
Mark "True Patriot" West
© Mark West
June 1, 2009
Pivotal moments affect every nation. Originating from crises that are both external and internal in nature, these moments demand critical attention.
Unfortunately, history is littered with crisis after crisis contrived only to advance an agenda. An ever-increasing interventionism is at the heart of that agenda. How many politicians have you heard say, "from chaos comes order"?
United States' pivotal year was 1913, culminating in a Congressional coup-d'état. Follow me as I detail the takeover timeline.
While breaking from English control, many founding fathers still favored the private central banking construct of London. Beginning with the Bank of North America in 1781, this group led by Robert Morris established the first central bank in the history of the United States.
Four years later the bank was shut down due to massive corruption.
Six years later Alexander Hamilton spearheaded another movement establishing the First Bank of the United States. Strident opposition was found in Thomas Jefferson who knew the danger of corruption involved in financial speculation and manipulation. Five years later Congress chartered the Second Bank of the United States, a copy of the first.
Twenty years later, President Andrew Jackson fought for the American people in destroying this bank with corruption again being the culprit. The ability to manipulate finances through market speculation bred corruption, as Jefferson warned.
A quarter-century of freedom from central banks was enjoyed by the populace until the Congressional coup began with the National Banking Act of 1863 which again centralized national banking operations into private banking institutions.
Prior to this, banking was governed by State banks that would issue currency. Currency issued had to be backed by appropriate reserves and could be exchanged for value with other State banks. The NBA of 1863 centralized this process with a charge to the State banks of 10% for currency exchange effectively eviscerating profitability for these banks.
Imperfections created by the NBA of 1863, namely with liquidity (sound familiar), led to the Panic of 1907. Government economic manipulation led to a crisis. A crisis led to a fervent public outcry for economic stability. Public outcry was capitalized on by the government to intervene and gain more control.
How would they do it?
We'll discover this in part 2!
Restore the Republic!
Mark "True Patriot" West
© Mark West
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