♦ nivek ♦ Posted April 8, 2009 Share Posted April 8, 2009 "If all the bank loans were paid, no one could have a bank deposit,and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." -- Robert Hemphill Credit Manager of Federal Reserve Bank, Atlanta, Ga. Source: In the foreword to a book by Irving Fisher, entitled 100% Money http://quotes.liberty-tree.ca/quote_blog/R...hill.Quote.CA66 "... our whole monetary system is dishonest, as it is debt-based... We did not vote for it. It grew upon us gradually but markedly since 1971 when the commodity-based system was abandoned." -- The Earl of Caithness Source: in a speech to the House of Lords, 1997 http://quotes.liberty-tree.ca/quote_blog/T...ness.Quote.2A3B "To ignore the evidence, and hope that it cannot be true, is more an evidence of mental illness.'' -- William Blase http://quotes.liberty-tree.ca/quote_blog/W...lase.Quote.4F82 Link to comment Share on other sites More sharing options...
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