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The modern banking system manufactures “money” out of nothing; and the process is, perhaps, the most, astounding piece of “sleight of hand” that was ever invented. In fact, it was not invented. It merely “grew”. ... Banks in fact are able to create (and cancel) modern “deposit money”, just as much as they were originally able to create, or call in, their own original forms of private notes. They can, in fact, inflate and deflate, i.e., mint, and un-mint the modern “ledger-entry” currency.
Major L. L. B. Angas (more quotes by Major L. L. B. Angas or books by/about Major L. L. B. Angas)
[Lawrence Lee Bazley White/Angas] (1893-1973) Australian-born British statesman, economist
(1893-1973) Australian-born British statesman, economist
Slump ahead in bonds, 1937.
see Billions for the Bankers, Debt for the People by Sheldon Emry
<i>Slump ahead in bonds,</i> 1937
Billions for the Bankers, Debt for the People
The Real Story of the Money-Control Over America
-taken from an essay by Sheldon Emry
America, Banking, Conspiracy, Economics, Fed, Money