Book contents
- Frontmatter
- Dedication
- Contents
- Prologue
- Introduction
- Chapter 1 The History of Money
- Chapter 2 Central Bankers: The Alchemists of our Time
- Chapter 3 The History of the Dollar
- Chapter 4 A Planet of Debt
- Chapter 5 The War on Gold
- Chapter 6 The Big Reset
- Epilogue
- Appendix I Demonetized Currencies (1700-2013)
- Appendix II Wall Street Fines (2000-2013)
- Bibliography
- Register
Chapter 1 - The History of Money
Published online by Cambridge University Press: 12 December 2020
- Frontmatter
- Dedication
- Contents
- Prologue
- Introduction
- Chapter 1 The History of Money
- Chapter 2 Central Bankers: The Alchemists of our Time
- Chapter 3 The History of the Dollar
- Chapter 4 A Planet of Debt
- Chapter 5 The War on Gold
- Chapter 6 The Big Reset
- Epilogue
- Appendix I Demonetized Currencies (1700-2013)
- Appendix II Wall Street Fines (2000-2013)
- Bibliography
- Register
Summary
The few who understand the (money) system will either be so interested from its profits, or so dependent on its favors, that there will be no opposition from that class.
– Rothschild Brothers of London, (1773-1855)When you or I write a check there must be sufficient funds in out account to cover the check, but when the Federal Reserve writes a check there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money.
– From Putting It Simply by the Boston Federal Reserve Bank (1984)There's no limit to central bank expanding its balance sheet in theory.
– Dennis Lockhart, Chairman of the board of the Federal Reserve Bank of Atlanta (2012)Inflation is a more fundamental danger than speculative investment. Some countries seem to be in the unusual situation where they are trying to create inflation. They will come to regret that.
– Paul Volcker (2013)The old saying is that ‘figures will not lie,’ but a new saying is ‘liars will figure.’ It is our duty, as practical statisticians, to prevent the liar from figuring; in other words, to prevent him from perverting the truth, in the interest of some theory he wishes to establish.
– Carroll D. Wright, statistician addressing the Convention of Commissioners of Bureaus of Statistics of Labor (1889)INTRO
Although we talk about money on a daily basis and most of us work hard for it, few stop to reflect on what money actually is and what it means. Even people working in the world of finance often do not comprehend what money is all about. The fact that money is created out of thin air and in the form of credit is quite difficult to understand. This important little secret is not taught at most schools and is actually only understood by a confined group of financial insiders. This is not necessarily a bad thing. According to Henry Ford, the famous car manufacturer, a revolution would break out before dawn if people got wind of how our money system really works.
What is the origin of money?
Ten thousand years ago, money in the form that we know it, did not exist. A simple community consuming merely a few varieties of food and materials, did not need a trading system.
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- Information
- The Big ResetWar on Gold and the Financial Endgame, pp. 13 - 47Publisher: Amsterdam University PressPrint publication year: 2015