The list author says: "Money is created Âout of nothingÂ, even worse, out of Âless than nothingÂ, out of DEBT. Whenever the government is in need of money, they ÂlendÂ it to the Federal Reserve, which, by the way, isnÂt a government institution, but a cartel of private banks, invented by the Rockefeller and Morgan families in Jekyll Island in 1910 and established by Congress in 1913. The Fed then ÂcreatesÂ the money the government needs in the form of government bonds, ultimately made out of Âpaper and inkÂ. Government then spends this money (payment to contractors etc.) and this money ends up as deposits in private bank accounts, where it is used in turn to back up private loans. More money is created Âout of nothingÂ, since banks typically lend 8 to 9 dollars for each dollar they have in deposit ! As you can see, all money is created out of debt. Would all debts be paid, all money would literallyÂ disappearÂ Money which is not backed up by gold is thus an illusion.
Now, governments do all what is in their power to be indebted. Remember Bush and Obama rescued ÂBanks To Big To FailÂ (sic) and other Big Corporations, each time with more than 700.000 million USD, without even raising taxes ! They even did better ! They lowered taxes at the same time ! Ever wondered how they perform this fascinating trick ? But of course, we DO end up paying those bills, every time government decides to Âcreate money out of nothingÂ. DonÂt be mistaken. Every time our governments expand the money supply, inflation goes up, and our money ends up being worth less. In 1966, when Greenspan was still a brilliant economist and not a corrupted chairman of the Fed, he called inflation a Âhidden confiscation of wealthÂ."
"All the depressions, recessions, and panics we suffer are not produced by an Âinvisible handÂ, but by the *expansion and contraction of the money supply*. And who is behind this ? It is not an invisible hand. It is the *central bank* that interferes with the monetary expansion and contraction. Contrary to popular belief, the Fed is not a national bank. It is a cartel of private banks."
"Griffin explains in great detail how the conspiracy to set up a central bank in the US, based on the European model imposed by the Rothschilds, was the result of a conspiracy by the mayor bankers, who came together in Jekyll Island in 1910, what would finally result in the Federal Reserve Act of 1913."
"Moore asked some Wall Street boys, including a Harvard professor, what a "derivative" is, and neither of them succeeded. And that's exactly the point. Make it complicated, and no questions will be asked. When things go wrong, go to the government and ask for the taxpayers' money - like the conspiracy of Jekyll Island projected. (In the meantime, the house owners be damned.)"
"Not only does capitalism deplete natural resources essential to humanity, it even "borrows" on the next generations to increase the current consumption in order to prevent crises, following Keynes' recipe, invented when he thought that anyway, "in the long run, we're all dead". Ernest Mandel states that you cannot expand consumption beyond a certain point. "In the long run, weÂre all broke"
"If you Â like me - heard once too much that the actual crisis is similar to the Great Depression of the Â30s, and always wanted to know what really happened THEN, then this book sorts it all out, and it shows also that the current crisis is the beginning of the end of the US Empire."