Op-Ed by Jamie Redman
It’s very odd that citizens never get to vote or have any say in regard to society’s money, even though it’s one of the most important aspects of everyday life. In fact, in developed countries, most central banks are institutions that are privatized from political interference and history explains why.
Money: The World’s Most Powerful Weapon
Most people think they understand how governments work. People assume this because a bunch of people pay their taxes in the belief that ‘representatives’ are doing their bidding when it comes to law and order. What the majority of folks don’t understand is that there’s one very important aspect of society that taxpayers have literally no say in — the creation of legal tender and the country’s monetary system. Many people believe the black swan of Bitcoin was born because modern society is now dictated by private, central banks that have irresponsibly printed vast quantities of fiat and manipulated the world’s economy in the worst way. Bureaucrats have given central banks the world’s most powerful weapons. Even worse, the banking cartels are never held liable for the inflation and the rampant busts and booms that have plagued the world’s economy for many decades.
From Simple Stock Traders to the Money Trust and the House of Morgan
People who question the ethics of the State understand that central banks arrogated to themselves a compulsory monopoly over society’s monetary system. The consortium of modern central banking started in the 17th century and one of the first known central banks was the Swedish Riksbank spawned in 1668. Following the Riksbank was the creation of the Bank of England in 1694 and 100 years later the Banque de France in 1800. In the U.S., President Woodrow Wilson created the Federal Reserve System the day before Christmas Eve in 1913 in response to the economy and the banking panic of 1907. That year the ‘Banker’s Panic’ or ‘Knickerbocker Crisis’ saw a nationwide run on banks and trusts throughout the U.S. Even though the Federal Reserve was initiated in an act of Congress, it is considered politically independent and not legally owned by the U.S. government. The Federal Reserve is the quintessential example of a 21st century central bank created by a group of bankers called the Money Trust more than 100 years ago.