President Wilson confession!
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Wilson presidency backed by elite bankers helped set up fed reserve in 1913.Hence the modern economies of inflation and deflation is set on the swing setting the stage for world domination.
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. 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 a small group of dominant men." -
What I worried that now our world has no more free governments instead led by the worship of the golden calf of the rebellious tribes of moses...how can any civilised people live under such rule??
Even americans feel that their country is getting amok
from educationa and healthcare..you're be surprised to find our N level student has better spelling than their Uni grads 
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What's the source of this quote by wilson?
The credit fiat money system is the correct system.
I see a lot of propaganda criticising this system. -
I hope SG dun go the way of US...but a more expanding network of ideas and freedom.....for the people by the people..I just dun see it in my lifetime under the present elite rulership that can inspire our people to graciousness and greatness both important traits that cannot be legislated to make our nation endure
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Please explain why fiat money not backed by gold and silver is the way to sound economics in our worldOriginally posted by Poh Ah Pak:What's the source of this quote by wilson?
The credit fiat money system is the correct system.
I see a lot of propaganda criticising this system. -
I can only see demoralisation and class conflict if the current ruling clique don't change their policies.
I don't think they will. -
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. This issuing power should be taken from the banks and restored to the people to whom it properly belongs. If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered. I hope we shall crush in its birth the aristocracy of the moneyed corporations which already dare to challenge our Government to a trial of strength and bid defiance to the laws of our country" Thomas Jefferson, 1791
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Please explain why fiat money not backed by gold and silver is the way to sound economics in our world
Backed by gold and silver?
That means that there will be a check on the expansion of the money supply.
Economic activity needs capital in order to operate smoothly.
When a business wants to expand, it borrows it's capital from banks in order to finance that expansion.
If there is a check on the money supply, the banks will not have enough money to lend out to the businesses to help them operate.
It's like you want to go places in your car, but the fuel supply is now checked.
Money supply expands and contracts to meet the demands of the economy.
If you impose checks on the money supply, the economy cannot expand as it should.
That is why banks create money out of nothing.
Any third grade banker can tell you that.
Here are some lectures on the USA banking system if you are interested.
This is to counter some of the insidious propaganda circulating on the web.
Banks And The Banking System
http://www.ndu.edu/library/ic3/icaflectures1.html -
Dear Poh Ah Pak,
Thank you, I found your post clear and well thought out.
Yes, as you pointed out, the system is powerful in that can be put to many good uses. However this power lies in the hands of a few people.
This automatically begs so many questions like who are these people? What are their goals? are they managing it correctly? what checks are in place to detect abuse? what controls are in place to ensure a balance? Is there culpability?
One video on the internet you can google and watch for free is titled "Zeitgeist". I know that I found it interesting.
Edited: I think your link may have a problem. I clicked on it and it tried to make me download a program?