Nexus - 0202 - New Times Magazine-pages

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CREATE CREDIT AIR? THIN he A.C.T Legisla-tive Assembly “The modern banking was the scene for an interesting system manufactures money round in the growing debate on _ out of nothing. whether or not banks create credit The process is per out of thin air. The flurry obviously upset haps the most astound the A.L.P and Liberal Party politicians, ing piece of sleight of who seem to vote together on more and _hand that was ever. more bills these days as it is. Despite their invented. rhetoric, they just did not have any Banking answers to these interesting quotes brought to our attention by Mr. Dennis Stevenson on 13th September 1990. “Permit me to issue the credit of a nation and I care not who makes the laws” - Mayer Rothschild, founder of the biggest chain of banking houses on the conceived in planet. iniquity an “When money is lent by a bank it pass - born in sin... es into the hands of the person who bor - Bankers own the rows it without anybody having less. earth. Take it away from Whenever a bank lends money there is, them, but leave them the therefore, an increase in the totalamount power to create money, and with of money available.” - Dr. H.C. (Nugget) the flick of a pen they will create or credit points since there are enough Coombs, former Governor of the enough money to buy it back again..But if “™ substantial quotations in existence to Common-wealth Bank, and Reserve Bank, = you want to continue to be slaves of the __ prove to the initiated that banks do create and financial adviser to every Federal bankers and pay the cost of your own credit without restraint.” - UK bankers Government from Chifley to Whitlam. slavery, then let the bankers continue to _ journal ‘Branch Banking’ July 1983 issue. create money and create credit.” - Sir Joshua Stamp of the Bank of England. “Banks create credit. It is a mistake to suppose that bank credit is created to any extent by the payment of money into banks. A loan made by a bank is a clear addition to the amount of money in the ommunity.” - Encyclopedia Britannica “Tf the American people ever allow pri - vate banks to control the issuance of their currency first by inflation and then by deflation, the corporation that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered.” - Thomas _ Jefferson, President of the United States. And last but not least... “There is no more unprofitable subject under the sun than to argue any banking NEXUS - 21 FEBRUARY 1991 *- YEAR BOOK