This is the Voice of Freedom. This is the Voice of Freedom. This is the Voice of Freedom. This is my daddy's station. I'm Pooh. Classic radio like you always wished it could be. 101.1 FM. Eager. 101.1 FM is owned and operated by the Independence Foundation Trust as a non-profit community service. 101.1 FM. Light it out on the hour. The hour of the time. Light it out for the overview of your one soul. The日 color. The day of the time. The time. The day of the time. You're listening to the Hour of the Time. I'm William Cooper. Ladies and gentlemen, once again, as I promised, here's June's edition of Stephen Jacobson's Wake Up America. Once you've listened to this, and if you want to help yourself and help the worldwide Freedom Radio Network continue to expand its programming and bring you the very best of radio the way you always wished it could be, then call Southwest International Trading right now at 1-800-295-2432 and ask how you can get your hands on the Economic Survival Pack number one for the ridiculously low price of only $250. This will be repeated at the end of this broadcast. Listen carefully to Mr. Stephen Jacobson. Listen very, very carefully. The problems in America are the result of people being led to believe things that are not true. America has been lulled into deep sleep, and it is now time to wake up. Wake up, America. Psychological warfare is being waged against an unsuspecting public. As in any war, the most powerful weapon of all, and the least understood by those who need to know, is money. In a letter to Thomas Jefferson in 1787, John Adams wrote, All the perplexities, confusion, and distress in America arise not from defects of the Constitution, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation. What was true then is even more true today. Confusion surrounds the very meaning of the word money, dollar, wealth, inflation, and credit. Add to this widespread public ignorance and confusion concerning tax laws, and you have a system designed to control and enslave the population. The money system operates in a way that would astound most Americans if they only knew how it worked. A dishonest money system is at the very heart of America's economic and social problems. The degree to which the money system is corrupt is the degree to which all other areas of society are corrupted. Money is the builder or destroyer of society. An honest money system brings prosperity to all citizens. A dishonest one enriches a few at the expense of everyone else. If a group of men were able to gain control over the money system of a nation, would they not be masters of that nation? If they had unlimited power to create unlimited amounts of money, would they not direct the force of society and all of its institutions? If their alliance encompassed the length and breadth of the globe, would they not be masters of the world? On November 22, 1910, the nation's leading bankers left by train at night from Hoboken, New Jersey, on a secret mission to Jekyll Island, Georgia. Their mission to create what was to become the Federal Reserve System. The essence of psychological warfare is to confuse the meaning of words and infiltrate the mind with conflicting concepts. Use of the word federal in the name Federal Reserve leads the public to believe that the Federal Reserve is a government institution. Contrary to this misleading use of language, the Fed, as it is commonly called, is a private corporation owned by foreign and domestic banks and operated for profit. The Fed controls the nation's money supply and interest rates and thereby manipulates the entire economy in violation of Article I, Section 8 of the United States Constitution that expressly charges Congress with Power to coin money and regulate the value thereof. Article I, Section 10 of the Constitution says, No state shall make anything but gold and silver coin a tender and payment of debt. Gold and silver coin were taken out of circulation, removed as backing for our currency, and replaced with monetized debt, in other words, credit. Credit exists only in the mind. It is not a substance, but an idea represented by bookkeeping entries and computer symbols. In the book 1984, George Orwell warned that people were in danger of losing their freedom without being aware of it while it was happening because of psychological, emotional, and intellectual manipulation, mind control. The manipulation of words and their meaning is the key to controlling what people think. Orwell called the redefining of words new speak, where traditional definitions are eliminated while new meanings are repeated over and over again until accepted. The definition of the word dollar has undergone such a transformation to hide the fact that it is not money but a unit of measurement for gold and silver coin. Title 12, United States Code, Section 152 states, The term lawful money or lawful money of the United States shall be construed to mean gold or silver coin of the United States. Title 31, United States Code, Section 371 says, The money of account of the United States shall be expressed in dollars. A dollar is not money. It is the expression of money. The money of account of the United States is gold and silver coin. A dollar is a unit of measurement like an inch or a quart or a mile. Congress, in the Coinage Act of 1792, fixed the dollar as a specific weight of silver in the form of a coin and fixed the value of a gold coin in relation to the dollar unit of silver. If there are no gold and silver coins, there are no dollars of anything. Dollars cannot be money any more than quarts can be milk. A unit of measurement cannot replace or become the thing for which it is the measure. However, in the mind of the public, this is exactly what has happened. People have been led to believe that a dollar is both money and a measure of it. This is what George Orwell called double-think, where the mind is infiltrated with conflicting concepts, unawares, unawares, unawares. Centuries ago, it became common practice for people to store their gold in the vault of the local goldsmith for a fee. The goldsmith would give the depositor a receipt for the amount of gold stored for his keeping. The receipt was not money, but a money substitute. It also became common practice for people to exchange these warehouse receipts with one another for goods and services as if they were money, since the receipt could be redeemed for the gold held in storage. The goldsmith soon discovered that only a small percentage of the gold stored in his vault was ever reclaimed. He began issuing receipts for more gold than he had, using some of them himself to buy things, and loaning the rest at interest while taking title to real property as collateral. In either case, there was no gold in the vault for these extra receipts. By increasing the quantity of the money substitute, the goldsmith had stolen from the holders of legitimate receipts, the value of which was reduced by the number of fraudulent receipts issued. Paper currency, a money substitute, is honest only when the real money for which it is a substitute equals the number of receipts in circulation. By manipulating the number of receipts in circulation, the goldsmith quietly confiscated the wealth of the community without anyone being aware of what was happening. By reducing the number of receipts, he could make money scarce, causing a depression where he could foreclose on property and increase his wealth. He could then stimulate economic activity and bring prosperity by increasing the number of receipts until the next cycle of plunder. All of America's economic problems originate with the practice of issuing fraudulent receipts for gold that does not exist. This practice became standard operating procedure for the banking establishment. The modern-day counterpart to the warehouse receipts for gold is the Federal Reserve note. Remember, the essence of psychological warfare is to confuse the meaning of words. The word federal implies federal government, but the Federal Reserve is a privately owned corporation. the word reserve implies there is something to give the paper receipt value, but no gold or silver backs this paper. The word note implies a contract, because a note by law must identify who is paying, what is being paid, to whom, and when. Between 1914 and 1963, Federal Reserve notes never claimed to be money, nor did they claim to be dollars. A note for five dollars read as follows. The United States of America will pay to the bearer on demand five dollars. Can a promise to pay five dollars be five dollars? To the left of the President's picture and above the bank seal, it said, This note is legal tender for all debt, public and private, and is redeemable in lawful money at the United States Treasury or at any Federal Reserve Bank. In 1963, soon after the assassination of President Kennedy, the Fed began to issue its first series of notes without the promise, while taking notes with the promise out of circulation. can paper become what it promises by removing the promise? To the left of the President's picture and above the bank's shield, it now read, This note is legal tender for all debts public and private. A note is an IOU. It is evidence of debt. It is not possible to pay off a debt with a debt. No debt can be paid in full unless paid in gold or silver, coined and regulated in value by Congress. The name Federal Reserve Note is a fraudulent label since each word claims to be something that in reality it is not. By removing the promise to redeem the note in lawful money, the Federal government, in cooperation with the Federal Reserve, eliminated the monetary system of the United States as established by the Constitution and replaced it with something totally different. On page 12 of Keeping Our Money Healthy published by the Federal Reserve Bank of New York, it states, The Federal Reserve System works only with credit. Credit is not a tangible substance like gold or silver coin. You cannot touch it nor can you weigh or measure it in dollars like gold or silver coin. Credit exists only in the mind and it is necessary to control minds to induce the public to accept pieces of paper with numbers on them in place of lawful money. money. If you are holding a $5 Federal Reserve note, the question you need to ask yourself is, what is it $5 of? The answer is absolutely nothing. The number five measures no substance. The only thing that gives paper money value is the confidence people have in it. It is entirely psychological. There are only two economic systems. One is barter. The other is credit. Barter is simply the exchange of one thing of value for something else of value. A monetary system using gold and silver coin is a barter system. Throughout history, many different things have served as a medium of exchange because money in and of itself does not exist. Something must be used as money. People have traded for goods and services using cows, salt, tea, opium, and tobacco. Gold and silver have been accepted as money worldwide since ancient times. All things used as money have had a common characteristic. They were all tangible wealth. They were all things you could touch. They were all things you could weigh and measure. Credit, on the other hand, is intangible. You cannot touch it, you cannot weigh and measure it, because there is no substance to weigh and measure. It is all imagination. An honest money system uses wealth as a medium of exchange. Wealth is physical, not psychological. People produce wealth through their labor, transforming natural resources into usable products that have exchange value in the marketplace. Gold and silver converted to coin by human labor is wealth. Credit is not wealth. No labor is expended in the creation of credit other than a magician's sleight of hand. Centuries ago, when the goldsmith issued his first receipt for gold that did not exist, he created credit. He also created inflation, because credit and inflation are the same thing. They are both receipts for wealth that does not exist. They are both an imaginary medium of exchange. Remember, paper currency, a money substitute, is honest only when the real money for which it is a substitute equals the number of receipts in circulation. When half of the receipts circulating as a money substitute are redeemable in gold, the other half is both credit and inflation. When none of the receipts are redeemable, all of it is credit and inflation. Credit, bank credit, is inflation. Anything used as a medium of exchange in place of wealth is inflation. When using gold and silver coin as money, there can be no inflation. Therefore, the only cure for inflation is honest money. An honest and sound money system employs just weights and measures. A ten dollar gold coin is twice as large and twice as heavy as a five dollar gold coin. Remember, a dollar is a unit of measurement for gold and silver coin to ensure uniformity of weight, purity, and value. A dollar unit of paper money that is not one hundred percent redeemable in gold or silver coin is a dollar unit of inflation, which is a dollar unit of credit, which is a dollar unit of nothing. The sole function of paper money that is not one hundred percent redeemable in gold or silver coin is to get things without paying for them. Those who issue and control paper money as credit get everything for nothing. Paper money as credit is a device to confiscate wealth using magic with numbers where numbers of nothing are exchanged for things of substance and value. It was Daniel Webster who said, of all contrivances devised for cheating the laboring classes of mankind, none has been more effective than that which deludes him with paper money. Paper money, focus money, it's been proven throughout history. It deceives you while it leads you as it leads you down to tyranny. The American Revolution was fought over the issue of money. The colonies created their own paper money and paid it into circulation on public projects until enough taxes could be collected in gold and silver coin to buy back the paper. Colonial strip, as it was called, was used as a temporary emergency measure to meet the demands of commerce. The rapid growth and prosperity of the colonies attracted the attention of the Bank of England, a private corporation chartered by the British Crown in 1694 and granted an exclusive monopoly to create money out of nothing and loan it into circulation at interest. Having gained control over British industry through frequent depressions caused by manipulating the quantity of paper money, the Bank of England sought to exploit the colonies by seizing control over their money. the British Parliament had no power over the colonies until the campaign by the Bank of England to nullify laws granting the colonies the right to create their own money, making it compulsory that the colonies borrow their money at interest from the Bank of England. This was the true cause of the war for independence. Benjamin Franklin put it this way. The colonies would have gladly borne the little tax on tea and other matters had it not been that England took away from the colonies their money. When the monetary provisions of the Constitution were being drafted, there were heated debates over whether or not to grant Congress power to remit bills of credit, in other words, print paper money. The colonies knew the agonies of inflation. Paper money that does not maintain its value when it is not an honest claim for wealth such as gold and silver coins. Oliver Ellsworth, a delegate from Connecticut, who later became this nation's third Chief Justice of the Supreme Court, said, This is a favorable moment to shut and bar the door against paper money. The mischief of the various experiments which have been made are now fresh in the public mind and have excited the disgust of all the respectable parts of America. Roger Sherman, also a delegate from Connecticut and author of the gold and silver coin provision of the Constitution, wrote a scathing condemnation of paper money entitled A Caveat Caveat means warning against injustice, in which he said, If what is used as a medium of exchange is fluctuating in its value, it is no better than unjust weights and measures, both of which are condemned by the laws of God and man, and therefore the longest and most universal custom could never make the use of such a medium either lawful or reasonable. And so, the framers of the Constitution stipulated a monetary system of gold and silver to be coined and regulated in value by Congress, and prohibited the government from issuing paper money as stated in Article 1, Sections 8 and 10 of the Constitution. Congress shall have power to coin money and regulate the value thereof. No state shall make anything but gold and silver coin a tender in payment of debts. With an honest money system established in the United States, no nation would be able to maintain a dishonest money system for long, and this posed a serious threat to the money power centered in London. The Revolutionary War did not end the battle over who would control the money system of America. The battle continued until the money power of England and Europe and their associates in America achieved victory when Congress, anxious to go home for the Christmas holiday, passed the Federal Reserve Act on December 23, 1913. Congressman Charles A. Lindbergh, Sr., father of the famed aviator, told Congress after the vote, when the President signs this act, the invisible government by the money power will be legalized. And so it was. President Woodrow Wilson signed the act into law, turning over the money system of this nation to a group of private bankers and allowing them to create money simply by making bookkeeping entries, low-knitted interests, and take title to real property as collateral. As a result, the citizens of the United States lost control over their money system and their government. government. The Federal Reserve System is modeled after the Bank of England. Though it consists of twelve regional banks, it functions as the nation's central bank. It is where banks go to borrow money and is appropriately called the Banker's Bank. The Federal Reserve System is a private corporation owned by foreign and domestic banks and operated for profit. The Bank of England, the Bank of France, the Bank of Italy, the Reich Bank of Germany were all founded as privately owned banks and not as government institutions as their names imply. Remember the essence of psychological warfare warfare is to confuse the meaning of words and infiltrate the mind with conflicting concepts. The International Banking Establishment operates on the principles of fractional reserve banking that originated with the goldsmith long ago. It is based on the dishonest practice of issuing receipts for more gold than is held on deposit. On page four of modern money mechanics published by the Federal Reserve Bank of Chicago, it says at one time, bankers were merely middlemen. They made a profit by accepting gold and coins brought to them for safekeeping and lending them to borrowers. But they soon found that the receipts they issued to depositors were being used as a means of payment. These receipts were acceptable as money since whoever held them could go to the bank. then the gold and coin on hand, because only a portion of the notes outstanding would be presented for payment at any one time. Enough metallic money had to be kept on hand, of course, to redeem whatever volume of notes was presented for payment. And when they did not keep enough gold and silver coin on hand to redeem all notes presented for payment, their fraud was exposed and short bankers were hung from tall trees. Under fractional reserve banking, banks create money whenever they grant a loan. It is the act of borrowing that causes it to come into existence. Banks lend money that did not exist until they loaned it. It is a true feat of magic. Banks create money by monetizing debt. The debts of government, business, and the public. Banks literally create money out of less than nothing because a debt is a sum of money due. It is not possible to pay a debt with a debt. And yet, this is what America and the world is using as money. Federal reserve notes are evidence of debt the U.S. government owes to the owners of the federal reserve, the payment of the federal reserve. The payment of which is guaranteed by the collateral of all property and income of all U.S. citizens. How the U.S. government borrows money from the federal reserve is not much different from the Abbott and Costello comedy sketch in their movie But Privates where Bud Abbott wants to borrow fifty dollars from Lou Costello. Listen to their routine and compare it with the explanation of how the federal reserve works its magic that follows. Do me a favor. I owe me fifty dollars. It's so many I can't. I can't owe you fifty dollars. Oh yes you can. No I can't. All I got is forty dollars. That's all. Alright give me the forty dollars and you owe me ten. Okay. I owe you ten. That's right. How come I owe you ten? Well what did I ask you for? And how much did you give me? What? But you owe me ten dollars. That's right. But you owe me forty. Now don't change the subject. I'm not changing the subject. You're trying to change my finances. Come on now. Give me my forty dollars. All right there's your forty dollars. Okay. Give me the ten dollars you owe me. I'm paying you on account. On account? On account I don't know how I owe it to you. That's the way you feel about it? It's the last time I'll ever ask you for the loan of fifty dollars. Wait a minute Smitty. How can I loan you fifty dollars now? All I have is thirty. Well give me the thirty and you owe me twenty. Okay. This is getting worse all the time. First I owe him ten now I owe him twenty. Well why do you run yourself into debt? I'm not running in. You're pushing me. I can't help it if you can't handle your finances. I do all right with my money. Hey you're doing all right with my fellow. Now wait. I asked you for the loan of fifty dollars you gave me thirty. So you owe me twenty dollars. Twenty and thirty is fifty. No. No. No. No. No. The U.S. government borrows money from the Federal Reserve using the same kind of logic and manipulation of words and numbers as the Abbott and Costello comedy routine. When the U.S. government needs to borrow money the Treasury creates a bond which is a fancy word for an IOU and promises to pay a specified amount of money at a specified interest on a specified date. This bond is evidence of debt just as an IOU is evidence of debt. This interest bearing debt is the foundation for this nation's money supply and its payment is guaranteed by the collateral of all property and income of all U.S. citizens. The Federal Reserve buys this debt simply by making a bookkeeping entry for the amount and writing a check against no funds and then converts it into paper currency and checkbook money. The U.S. Bureau of Engraving prints the paper currency in whatever denominations ordered by the Federal Reserve and charges about two cents for each note regardless of the denomination which the Federal Reserve pays for by making another bookkeeping entry and writing another bad check. In effect the Federal Reserve lends the U.S. government its own credit our credit and then charges interest on it. Every dollar created by the Federal Reserve system is debt for the citizens of the United States which the central bank collects interest on in addition to the interest from the bond created by the treasury that put this magic money-making machine in motion. and it gets worse. The Federal Reserve inflates the amount of the bond in order to make even more loans of imaginary dollars and collect more interest on an investment that costs nothing. Under fractional reserve banking the amount of money a bank can create is limited by the reserve ratio or fraction that it is required to maintain. for example when the reserve ratio is 10 to 1 a bank can create and loan ten dollars for each dollar held in reserve and charge interest on it. While the reserves of the goldsmith were gold the reserves of the Federal Reserve is paper nothing more than bookkeeping entries that are a record of debt. the absurdity of the situation is that if there were no debt there would be no money since every dollar of paper currency and textbook money is loaned into circulation. And in order to pay the interest there has to be another loan because the banking system only creates the principal and not the interest. in fact the interest can never be paid because it is not possible to return to the bank more dollars than were created making it inevitable that the Federal Reserve banking system acquire title to all wealth in the nation. This is exactly what the framers of the Constitution intended to prevent when they stipulated a monetary system of gold and silver coin and prohibited the government from issuing paper money because a nation that uses money based on debt can never be free of debt. Paper money Paper money It's a federal trick without a treat It's a source of all inflation and the reasons why your ends don't need The only source of inflation is the Federal Reserve banking system consisting of the twelve Federal Reserve banks dominated by the Federal Reserve Bank of New York and the nation's commercial banks increasing the amount of currency and checkbook money increases inflation creating new dollars reduces the value of all dollars resulting in higher prices By manipulating the quantity of created dollars the purchasing power of every dollar is altered The expansion and contraction of an artificial money supply produces the cycles of prosperity and depression that have long plagued society Depressions are the result of private bankers reducing the money supply by tightening credit and withdrawing currency causing a drop in prices unemployment and foreclosure of property This mechanism is premeditated theft The purpose of the Federal Reserve Act that was given to the public at the time was that it would prevent panics crashes and depressions What the public was not told was that the nation's leading bankers engineered those very events to encourage the public to demand what the bankers wanted The strategy used is a classic example of Hegelian dialectics a method to bring about change in a three-step process The first step is to create a problem an opposing force that will serve as a catalyst for action For example create anxiety and fear in the public so that they demand that government do something The third step is to offer the solution to the problem that will lead to a predetermined goal Thus bringing about change that would have been impossible to impose on people without proper psychological conditioning By causing emotional stress and mental confusion judgment is impaired and suggestibility increased Under these conditions people can be manipulated into accepting something that is not in their best interest This was the case with events that led to the Federal Reserve Act which placed control of America's money system in the hands of private bankers Thomas Jefferson warned against doing this when he said If the American people ever allow private banks to control the issue of their currency first by inflation and then by deflation the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered When people conducted all business with gold and silver coin it was a final transaction where payment was made on the spot settling debts without delay All paper currency was redeemable in gold or silver coin thus conditioning the public to believe that the banks promised to pay in wealth was as good as gold By calling gold and silver money and then calling bank notes money the two blended together in people's minds so that gradually over a period of time the difference between them was erased from public memory A promise to pay money substituted for lawful money until the promise was removed Exchanging paper currency is an incomplete transaction until payment is made in gold or silver coin Until then it is both credit and debt a record of a specific amount of money to be paid or received Credit which is deferred payment and debt which is a sum of money due are the same thing which is hidden by deceptive double entry bookkeeping where a debt becomes an asset by calling it a credit Paper money that redeems nothing only appears to have value because it can be exchanged for things of value When a piece of paper representing debt is exchanged for wealth someone has been robbed Paper money expropriates wealth from one person then from another then from another and on and on until the last person to get it will be stuck with it What the first user the bank gets for nothing the last user will get nothing for The sole function of paper money that is not 100% redeemable in gold or silver coin is to get things without paying for them Those who issue and control bank credit as money get everything for nothing Bank credit is a device for confiscating wealth using magic with numbers where numbers of nothing are exchanged for things of substance and value This grand theft occurs in full view unnoticed because the public has been made an accessory to the crime by accepting pieces of paper with numbers on them in place of lawful money not knowing the difference between the two paper money worth this money is the nation's cursed since times of old Things won't ever get no better till we make the Fed give back our gold Under fractional reserve banking the amount of credit a bank can create is tied to the wealth on deposit to which the currency can be redeemed This limitation was removed when gold was confiscated from the public to protect the currency system based on that gold During the Great Depression of the 1930s people who had gold on deposit in the banks wanted the banks to honor their contract to redeem the paper currency for gold The fraudulent nature of fractional reserve banking was at risk of being exposed because there was not enough gold on deposit in the banks to redeem all Federal Reserve notes issued promising payment in gold On March 6th 1933 President Franklin Delano Roosevelt by executive proclamation declared a national emergency and closed down the banking system for two days on the recommendation of the Board of Directors of the Federal Reserve Bank of New York On March 9th Congress passed the Emergency Banking Act declaring a national emergency and conferring on the President the extraordinary authority of the War Powers Act in the Trading with the Enemy Act of October 6th 1917 amended to place all money matters of American citizens under its jurisdiction It became illegal for U.S. citizens to own gold under penalty of up to a $10,000 fine and or up to 10 years imprisonment people turned in their gold and gold certificates in exchange for Federal Reserve notes of created dollars based on debt which bore a promise of redemption in lawful money The circulation of gold coins and redemption of paper currency for gold ended leaving silver dollars as the only lawful money available silver was eventually eliminated from the money system leaving the American people with a totally debauched money system of irredeemable paper currency and copper nickel clad tokens that represented debt owed to the owners of the Federal Reserve banking system the payment of which is guaranteed by the collateral of all property and income of all U.S. citizens When banks cannot honor their contract to redeem their notes for gold or silver coins they are in fact bankrupt The contract between the people and the Federal Reserve printed on each bank note promising to pay in lawful money was invalidated because the system went bankrupt and because the amended version of the trading with the enemy act of 1917 placed all U.S. citizens in the category of enemy and no contract is considered valid between enemies American citizens would declare to be the enemy by their own government for indeed they would be if the people ever discovered what had happened to their money It is the responsibility of honest governments to ensure that the money system serve the nation and not enslave the nation We can be self-governing only when public servants are dependent on something citizens provide when gold and silver coin were used as money the people had control over their government The golden rule of finance is that he who has the gold makes the rules If the public has the gold the public makes the rules If the central government and central bank have the gold they make the rules The loss of the right to trade in wealth such as gold and silver coin enslaves the people to those who create and control what is being used as money All it took to enslave America and the world was to convince people that paper and credit are money The federal government and the federal reserve have the power to create unlimited amounts of credit because credit does not exist It is not a tangible substance but an idea represented by bookkeeping entries and computer symbols The distinction between free men and slaves is whether or not they are paid for their labor He who labors for money that the first user got for nothing is a slave to the first user The banks The Constitution established the use of both gold and silver coin as standard money to ensure the equal buying power of every dollar at all times Honest money is nothing more than a transportation system to move goods and provide services A credit system is nothing more than a slave system designed to control the population and all economic activity Deficit spending is as phony as our money and illogical How does one spend a debt? To pay means to deliver a substance as money like gold and silver and silver coin Where there is no substance there is no payment only pretended payment Banks do not really lend they only pretend to lend They put no money in their borrower's account They only make bookkeeping entries that are reduced as the borrower writes checks against imagined deposits By charging interest on a loan they do not make banks impart psychological value to numbers of absolutely nothing Charging interest sustains the illusion that banks loan something of value when all they do is rank illusions Usury used to be defined as any interest charged for a loan The modern definition redefines it as excessive interest Any interest charged for a pretended loan is excessive Interest then should be recognized for what it really is Tribute A sum of money paid as acknowledgment of submission or as the price for protection Tribute is extortion by a conqueror over the conquered The so-called deficit is not really a deficit at all but an asset the government gets in exchange for its role in the credit creating scheme of the banking system As the deficit grows both government and bank assets grow because the government and the banks acquire things of value with the credit they create out of debt Banks should not be allowed to lend what they do not have which is exactly what banks do Banks enter credits and debits of nothing They do not transfer honest dollars of gold and silver coin What makes a check bad is the same thing that makes fractional reserve banking bad insufficient funds or rather no funds as is the case The words pay borrow and loan are meaningless without the means of payment No one is paying for anything Debts are being discharged with debt instruments but no debts are being settled by payment in honest money lawful money constitutional money There can be no liberty no justice no economic freedom without an honest money system Three years after signing the Federal Reserve Act into law President Woodrow Wilson made the following statement Our system of credit is concentrated The growth of the nation therefore and all our activities are in the hands of a few men We have come to be one of the worst ruled one of the most completely controlled and dominated governments in the civilized world No longer a government by free opinion No longer a government by conviction and the vote of the majority but a government by the opinion and duress of small groups of dominant men When using wealth as a medium of exchange governments must receive wealth from its citizens to pay for goods and services When using credit government is totally independent of taxes and does not have to pay for anything which the illusion of taxes conceals from public view When the only thing on deposit in banks are bookkeeping entries the honest payment of taxes is no longer possible because there is no honest money with which to pay The notion of deficit spending leads the public to believe that the government spends more than it collects in taxes when in fact Congress spends nothing and wastes nothing because no money goes to Washington as taxes Taxes sustain the illusion that the numbers people call dollars have value when gold and silver coin are the only honest money measured in dollars Though nothing is financed by taxes Consumption the public's capacity to use up goods and services is reduced Subtracting credits from bank accounts reduces consumption and eliminates previously created inflation Consumption is regulated by taxing money credit away from people so they cannot spend it Phony taxes regulate inflation It is a safety valve to keep us from being drowned in paper and to keep prices from exploding to phenomenal numbers A check to the Internal Revenue Service authorizes the transfer of numbers from one bank account to another When bank deposits are only bookkeeping entries taxes are an illusion that seem real when banks subtract numbers because there is less to spend The tax system reduces public allotment of credit in order to destroy some of the bank created credit so that the bankers and their government can continue to create more credit and with this credit get unlimited goods and services for nothing money This is the great secret and deception of modern money and taxes the greatest magic show on earth The Federal Reserve pumps money credit into the economy and the IRS sucks it out of the economy thus manipulating the purchasing power of the artificial money supply The IRS is really the collection agency for the Federal Reserve All so-called dollars collected by the IRS are transferred to the Federal Reserve as payment on the interest of the imaginary national debt The Secretary of the Treasury is not the U.S. Secretary of the Treasury because the U.S. Treasury was bankrupted in 1933 The Secretary of the Treasury is not paid by the United States government The Secretary serves as the U.S. Governor of the International Monetary Fund as receiver of the bankrupt United States collecting the debt from U.S. citizens America is owned by its creditors The bankers own everything The elaborate Internal Revenue Code with its convoluted language special definitions and references to different chapters sub-chapters sections and sub-sections is nothing but a deep cover for the dishonest irredeemable paper money credit Swindle paper money money money money it's a ticket stuff to tyranny gold and silver is the answer it will reinstate our liberty we the people have the power we can reinstate our liberty all the perplexities confusion and distress in America arise not from defects of the constitution not from want of honor or virtue so much as from downright ignorance of the nature of coin credit and circulation a nation that uses money based on debt can never be free of debt the federal resistance works only with credit credit congress will have power to coin money and regulate the value thereof no state shall make anything but gold and silver coin a tender and tender debts wake up America ladies and gentlemen if you would like to help yourself and help the worldwide freedom radio network continue to expand its broadcasting to bring you the very best programming available classic radio the way you always wished it could be call southwest international trading right now at 1-800-295-2432 that's 1-800-295-2432 ask how you can obtain the economic survival pack number one and do it now folks you know how you are good night and god bless you all this is the voice of freedom and so people in the academy and theRP oh and they can't travel they can't all they can't find or that the ça Thank you. Thank you. Thank you.