20
Free issue of MICHAEL
www.michaeljournal.orgThe following article was first published in
1939. A lot of information comes from the book
of Gertrude Coogan, “Money Creators,” pub-
lished in 1935. Ms. Coogan died mysteriously at
age 29, shortly after this book’s publication.
The current banking system is pure ban-
ditry: anyone who bothers to study the issue
(the creation of money-debt credit by banks and
absolute control of the medium of exchange by
banks), cannot doubt it. But it is nevertheless a
legalized banditry, that is to say, banks act within
the “legal” limits of their charter, while leading
this racket for the benefit of a small clique of indi-
viduals thriving on the backs of the public. Their
charter is a law granted by the sovereign gov-
ernment to a machine that is bleeding and kills
mankind.
Since the Renaissance and Protestant
Reform, we find people opening offices to lend
money and, through usury, managing to control
the money supply of the countries where they
operate. The holders of gold quickly learned to
commercialize the credulity of the ignorant public
and to lend to them what they did not have in the
first place. (
See the article “The goldsmith who
became a banker” on page 15
.) Gold remained
in their vaults; receipts of those who entrusted
their gold to the bankers circulated alongside
gold itself and was just as profitable.
Legalization of banditry
In 1694 these bankers legally obtained the
right to manufacture and lend at interest money
to the sovereign government as well as to indi-
viduals. That year, King William III of England
needed money to wage war. Since the revolu-
tion of 1688, a company of rich men using the
name of “Company of the Bank of England”, led
by William Paterson, had established themselves
in London. We quote from
The Breakdown of
Money
, by Christopher Hollis :
“In 1694 the Government of William III was
in sore straits for money. A company of rich
men under the leadership of one William Pater-
son offered to lend William £1,200,000 at 8 per
cent on the condition that ‘the Governor and
by
Louis Even
Who are the REAL rulers of the world?
The monster of the banking system is taking control of all real wealth