Deanna Spingola
February 20, 2009
Bailouts, stimulus packages or redistribution of assets? (Part One of Two)
By Deanna Spingola

On February 17, 1950, James Paul Warburg appeared before the U.S. Senate and declared: "We shall have World Government, whether or not we like it. The only question is whether world government will be achieved by conquest or consent." [1]

To establish a world government, it is necessary to incrementally eradicate the constitution, bring the U.S. to her knees economically, and shackle the taxpayers to perpetual debt through bailouts and stimulus packages funded by printing billions of dollars of interest and debt-bearing Federal Reserve Notes to drastically devalue the currency in circulation thus impoverishing the taxpayers. The only benefactors are the extant banks, certain corporations and the individuals who concocted the financial disaster.

The colonists issued debt-free script in the 1700s commensurate to the demands of trade and industry. The citizens were self-sufficient and industrious. Incensed over the currency issue, England burdened the colonists with excess taxes to fund Britain's imperialistic wars. This precipitated the Revolutionary War. Alexander Hamilton, a Rothschild agent, convinced George Washington to allow the Rothschilds to finance the war. In 1791, with a big war debt to be paid, Hamilton set up a central bank, owned by the Rothschilds and other foreigners called the First Bank of the United States with a twenty-year charter. [2]

Congress rejected renewal of the charter and the bank was closed on March 4, 1811. Nathan Rothschild was outraged and asked the British Parliament to declare war to reinstate the bank. The Prime Minister refused and was assassinated on May 11, 1812. Parliament declared war on June 18, 1812. British troops burned the White House and other government buildings including the one that housed the ratification papers for the U.S. constitution. The war increased our national debt from $45 million to $127 million. [3] President Madison proposed the establishment of a second central bank on December 5, 1815 for a twenty year period. It was created by Congress on January 7, 1817. Nicholas Biddle, a Rothschild protégé, became the bank's president in 1822. President Andrew Jackson refused to renew the charter in 1836, as promised during his presidential campaign.

In opposition to the international bankers, Abraham Lincoln issued debt-free, interest-free greenbacks through the Legal Tender Act of February 25, 1862. This currency funded the Civil War, a horrific, bloody battle that took the lives of over 600,000 souls and was devised to weaken and divide the country. The privately-owned Bank of England planned to impose a gold standard on the United States. Lincoln was soon assassinated by John Wilkes Booth, a Rothschild agent. No debt-free or interest-free money has been issued in America since then.

J. P. Morgan & Company was founded in New York City in 1871 as Drexel, Morgan & Company by J. Pierpont Morgan and Philadelphia banker Anthony Drexel, agents for Europeans investing in the United States. Ultimately, they were so well capitalized that they financed much of America's industrial expansion. By the 1890s, Morgan became an industry consolidator, reorganizing and restructuring the debts of financially troubled railroads — the Northern Pacific, the Erie, the Reading and many other railroads for a total of one-sixth of the track in the U.S. Morgan financed and merged smaller companies to create U.S. Steel, International Harvester and others. A decline in competition results in a concentration of control. In 1904, J. P. Morgan & Company loaned money to finance the Panama Canal, the largest real estate transaction in history. J. P. Morgan & Company became the world's most powerful investment bank.

J. P. Morgan loaned money to Thomas Edison for his incandescent light research and therefore directed Edison's power generation and distribution plants. Nikola Tesla (July 10, 1856 — January 7, 1943), a Serbian who later became a U.S. citizen, was fluent in seven languages. He patented the radio on March 20, 1900, a patent usurped and used by Marconi. Tesla needed the financing that the House of Morgan offered but wishing to retain independence, he resisted the accompanying control. He had witnessed the robber baron's 1891 aggressive takeover of the struggling Thomson-Houston Company and the Edison Company to form General Electric. [4]

Tesla had also witnessed how Morgan coveted and endangered the autonomy of Westinghouse. Morgan wanted Tesla to sign over his broad spectrum radio patents as security for the loans. Tesla had plans for a directed-energy weapon, not yet patented. Tesla proposed an end to all war. Tesla's alternating current induction motor could have provided free, world-wide electricity to every human. Undoubtedly, Morgan, making huge profits from energy, wished to conceal that possibility. German born George H. Scherff Sr. served as Tesla's accountant and assistant. When Tesla died, his vast collection of papers were seized and classified by the banker-obedient government. [5]

By the turn of the century, Americans paid very few taxes, had minimal debt and grew their businesses internally — without bank loans. However, by 1910, there were, throughout the country, a combination of over twenty thousand private banks and national banks, chartered by the federal government, all taking business away from the big New York City banks. Legally, banks were allowed to issue currency or bank notes. Since they operated on a fractional reserve system, they could lend out 90 percent of their deposits. This system is manageable unless demands for cash in the form of checks or depositor withdrawals are greater than their reserve cash. Many of those banks failed in orchestrated financial panics. Those remaining would be coerced to join the Federal Reserve System, soon to be established, where their reserves would be managed and controlled by a small, highly competitive, greedy group.

In the fall of 1910, six influential competitor bankers and one well-connected congressman, Republican Senator Nelson Aldrich, stealthily collaborated at Jekyll Island to plot the establishment of a shared monopoly, the Federal Reserve System. The bankers represented the interests of J. P. Morgan, Rothschild, Rockefeller, Warburg, and Kuhn, Loeb & Company. Consequently, legislation was passed to create the Federal Reserve System in 1913, the culmination of decades of plotting by the international bankers. Under the jurisdiction of a board of directors, the U.S. was divided into twelve Federal Reserve Districts. Americans were led to believe that the Fed would eliminate financial catastrophes and stabilize the economy. In reality, the Fed is a cartel that was designed to obliterate competition and increase profits through higher prices and deceptive policies enforced by the government.

J. P. Morgan arranged the financing and purchasing of American supplies for France and Britain during World War I. By the end of that war, J. P. Morgan Bank had handled $3 billion in commercial transactions, netting $3 million in fees, and had arranged over $1.5 billion in credits to become the world's most influential bank, moving it permanently into the political arena of foreign policy, serving as an extension of the federal government. [6]

In 1901, the U.S. national debt was less than $1 billion. After World War I, the national debt was $25 billion. Between World War I and II, it increased to $49 billion. In 1952, in the midst of the Korean War, under U.N. command, the debt stood at $72 billion. In 1962, the debt was $303 billion which increased to $383 billion by 1970 during the Vietnam War. By 1976, at the end of the Vietnam War, it was $631 billion. During the 1980s and the orchestrated Cold War military buildup, the debt increased substantially. The international bankers funded both the U.S. and the Soviet military buildup. However, all records evidencing congressional acquiescence to the massive banker-funded technological transfer from 1916 forward were classified by Eisenhower's executive order in 1953. [7] By 1998, the debt was over $5.5 trillion. Now, the national debt is well over $10.8 trillion. This does not include personal indebtedness such as credit cards, car loans or mortgages.

By the 1920s, banks routinely offered low-interest credit to businesses that had previously relied on profits and patience for expansion. Soon, businesses, eager for additional profit accepted the deceptively low-interest loans offered by the banks. Once hooked, businesses became dependant on banks for growth. To maintain perceptions beneficial to their objectives, bankers have always entrenched like-minded minions into influential positions such as newspaper publishers, editors, columnists, university presidents, professors, textbook writers, labor union leaders, filmmakers, and radio and television commentators.

Even after the deliberate New York Panic of 1920-21, America was still industrially strong. Farms provided adequate and toxin-free, un-genetically modified food. Our infrastructure and transportation systems were then modern and efficient and we were technologically advanced compared to the rest of the world. In 1921, U.S. per capita income was $522. In 1925, Winston Churchill, Chancellor of the Exchequer, wanting England to return to world leadership, adjusted the British pound to $4.86 which limited the amount of British goods companies and individuals around the world could afford. Consequently, over the next two years, hundreds of millions of dollars of gold flowed to the U.S. from all over Europe. [8]

Montague Norman of the Bank of England, Charles Rist of the Bank of France, Hjalmer Scacht of the Reichsbank, Benjamin Strong of the Federal Reserve, all privately-owned central banks, and Andrew Mellon, Secretary of the Treasury convened in 1927 and agreed to lower U.S. interest rates and the Fed's discount rate. Additionally, in July, 1927, the directors of the Bank of England, the New York Federal Reserve Bank, and the German Reichsbank plotted to move the gold out of the U.S. Allegedly, this helped to generate the depression. By 1928, about $500 million in gold was transferred to Europe, especially Germany, most under the guise of post-war aid.

By 1928, U.S. per capita income grew to $628. Winston Churchill, Benjamin Strong, the New York Federal Reserve chief and the U.S. Secretary of the Treasury, Andrew Mellon operated together to ensure that easy money for Wall Street speculation was readily available.

Newspaper and magazine articles promoted stock market speculation claiming that one could make a veritable fortune in a short time for minimum monthly investments. However, there were "special" speculators who owned dozens of accounts in various names which could be traded in enormous blocks. Small investors, never in a position to manipulate the market, suffered the consequences and received the blame for the 1929 crash. Blame for every catastrophe is always placed elsewhere.

Since Woodrow Wilson, the Fed has installed and managed many U.S. presidents. On October 25, 1929, President Herbert Hoover claimed: "The fundamental business of the country is on a sound and prosperous basis." The crash of October 28-29, 1929 was devised. On November 8, 2002, current Federal Reserve Chairman Ben Bernanke said: "Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again." [9]

In 1929-1930, the banks, purportedly because they were short on gold, would not give loans to U.S. industry and individuals. Yet, three banks, J. P. Morgan & Company, First National Bank of New York and First National Bank of Chicago, had sufficient money to send huge amounts out of the country to the Bank of International Settlements which ultimately built up Nazi Germany. The money supply was deliberately decreased, causing the Great Depression. People defaulted on their loans and the banks repossessed farms, homes and business properties. People lost their savings — everything. The banks benefited. It was an unethical, egregious redistribution of assets. The catastrophic crash was world-wide, creating joblessness, hunger, disintegration of production and national bankruptcies.

On March 7, 1930, Hoover said: "All the evidence indicates that the worst effects of the Crash upon unemployment will have passed during the next sixty days." He then signed the Smoot-Hawley Tariff Act against the advice of the thousand economists hired by Wall Street manipulators who were most concerned about repayment of their foreign loans. In September 1930, Bernard Baruch, after returning from a visit to Churchill in England, sent a cable affirming Churchill's views about British world supremacy. On December 11, 1930, New York's fourth largest bank, Bank of the United States, failed. Its 450,000 depositors had no recourse and no FDIC insurance. Another one thousand banks failed in 1930. [10] Bank failures signal bank consolidation — extant banks consume them.

The entire national debt in 1932 was $19.5 billion. Roosevelt then initiated the New Deal in 1933 by introducing the practice of deficit spending, which was the brain-child of Britain's John Maynard Keynes, a member of the Illuminati. In 1910, Lenin said: "The surest way to overthrow an established social order is to debauch its currency." Nine years later, Keynes wrote: "Lenin was certainly right, there is no more positive, or subtler, no surer means of overturning the existing basis of society than to debauch the currency ... The process engages all of the hidden forces of economic law on the side of destruction, and does it in a manner that not one man in a million is able to diagnose." [11]

On March 9, 1933, Franklin Roosevelt issued Executive Orders 6073, 6102, 6111, and 6260 which declared that the U.S. was bankrupt. On April 5, 1933, Roosevelt declared a National Emergency and made it illegal for U.S. citizens to own gold. He ordered all gold coins, gold bullion, and gold certificates to be turned into the Federal Reserve banks by May 1 (the Illuminati was created on May 1, 1776). People would face imprisonment and fines if they refused to relinquish their gold. Further, on June 5, 1933, Congress enacted a joint resolution outlawing all gold clauses in contracts. The Federal Reserve System was not energized until 1933 when the U.S. went off the gold standard which allowed the expansion and devaluation of the money supply. The Federal Reserve collects usury on every bill printed. "Our currency has no value past the confidence of those who use it." [12]

Gold coinage was withdrawn from circulation, and kept in the form of bullion. The public and the Federal Reserve returned their stocks of gold to the government. The people were paid $20.67 an ounce in Federal Reserve money. The Federal Reserve received Gold Certificates. So the Federal Reserve, owned by some Illuminati families, had control of the country's gold and could control its price. The stability and responsibility of the government that issues a currency is the primary reason people accept that currency. Obviously, the collapse of that government would render the currency worthless.


[3]  Financial Background, the Beginning of Monetary control by David Allen Rivera

[4]  The New York Times Guide to Essential Knowledge: A Desk Reference for the Curious Mind By The New York Times, Published by Macmillan 2004, pgs. 142-143

[5]  Tesla, Man Out of Time by Margaret Cheney, Barnes & Noble, New York, 1993, pg. 99, 80, 157-160

[6]  The Yamato Dynasty, the Secret History of Japan's Imperial Family by Sterling and Peggy Seagrave, Broadway Books, New York, 1999, pgs. 116-125

[7]  National Suicide, Military Aid to the Soviet Union by Antony C. Sutton, Arlington House, New Rochelle, New York, 1973, p. 49

[8]  The Greatest Story Never Told, Winston Churchill and the Crash of 1929 by Pat Riott, 1994, Nanoman Press, pg. 34

[9]  Remarks by Governor Ben S. Bernanke At the Conference to Honor Milton Friedman, University of Chicago, Chicago, Illinois, November 8, 2002

[10]  The Greatest Story Never Told, Winston Churchill and the Crash of 1929 by Pat Riott, 1994, Nanoman Press, pg. 148-163

[11]  Gold Reserves Manipulated And Us Economy Destroyed Final Warning: A History Of The New World Order by David Allen Rivera

© Deanna Spingola


The views expressed by RenewAmerica columnists are their own and do not necessarily reflect the position of RenewAmerica or its affiliates.
(See RenewAmerica's publishing standards.)

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Deanna Spingola

Deanna Spingola has been a quilt designer and is the author of two books... (more)

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