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Money Masters part 3

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One of the original stockholders in the Bank of England purchased his original shares with this stick. In other words, he bought shares in the world's richest and most powerful corporation with a stick of wood. It is ironic that after its formation in 1694 the Bank of England attacked the tally stick system; because it was money outside the power of the money changers just as King Henry I had wanted it to be. Why have people accepted sticks of wood for money? That's a good question. Throughout history people traded anything they thought had value and used as money. You see the secret is that money is only what people agree on to use as money. What is our paper money today? It is really just paper. But here's the trick: King Henry I ordered that the tally sticks had to be used to pay the king's taxes. This built in demand for tally sticks immediately made them circulate and be accepted as money. It worked well. In fact, no other form of money has worked so well for so long as the tally sticks. Keep in mind, the British empire was built under the tally stick system. The tally stick system succeeded despite the fact that the money changers constantly attacked it by offering the metal coin system as competition. In other words, metal coins never went completely out of circulation but tally sticks hung on because they were good for the payment of taxes. Finally, in the 1500s, Henry VIII relaxed the laws concerning usury. The money changers wasted no time reasserting themselves. They quickly made their gold and silver money plentiful for a few decades. But when queen Mary took the throne and tightened the usury laws again the money changers renewed the hoarding of gold and silver coins forcing the economy to plummet. When Queen Mary's sister, Queen Elizabeth I, took the thrown she was determined to regain control over English money. Her solution was to issue gold and silver coins from the public treasury and take control of the money supply away from the money changers. Although control over money was not the only cause of the English Revolution in 1642 as religious differences fueled the conflict monetary policy played a major role. Financed by the money changers, Oliver Cromwell finally overthrew King Charles purged the parliament, and put the king to death. The money changers were then immediately allowed to consolidate their financial power. The result was that for the next 50 years: the money changers plunged Great Brittain into a series of costly wars. They took over a square mile of property in the center of London known as the 'City of London'. This area today is still known as one of the three predominant financial centers of the world. Conflicts with the Stuart kings led the money changers in England to combine with those in the Netherlands to finance the invasion of William of Orange who overthrew the Stuarts in 1688 and took the English throne. By the end of the 1600's England was in financial ruin. 50 years of more or less of continuous wars with France and Holland had exhausted her. Frantic government officials met with the money changers to beg for the loans to pursue their political purposes. The price was high: a government sanctioned privately owned bank; which could issue money created out of nothing. It was to be the modern world's first privately owned central bank, the Bank of England. Although it was deceptively called the Bank of England to make the general population think it was part of the government, it was not. Like any other private corporation, the Bank of England sold shares to get started. The investors who's names were never revealed were supposed to put up 1.25 million British pounds in gold coin to buy their shares in the bank but only 750,000 pounds was ever received. Despite that, the bank was duly chartered in 1694 and started out in the business of loaning out several times the money it supposedly had in reserves all at interest. In exchange the new bank would loan the British politicians as much of the new currency as they wanted as long as they secured the debt by direct taxation of the British people. So the legalization of the Bank of England amounted to nothing less than legal counterfeiting of a national currency for private gain. Unfortunately nearly every nation now has a privately controlled central bank using the Bank of England as the basic model. Such is the power of these central banks that they soon take total control over a nation's economy. It soon amounts to nothing but a plutocracy, rule by the rich. It would be like putting control of the army in the hands of the mafia the danger of tyranny would be extreme. Yes, we need central banks. No we do not need them in private hands. The private central bank scam is really a hidden tax. The nation sells bonds to the central bank to pay for things it does not have the political will to raise taxes to pay for. The bonds are purchased with money that the central bank creates out of nothing. More money in circulation makes your money worth less. The government gets as much money as it needs and the people pay for it all in inflation. The beauty of the plan is that not one person in a thousand can figure it out because it´s usually hidden behind complex sounding economics gibberish. With the formation of the Bank of England, the nation was soon awash in money. Prices throughout the country doubled. Massive loans were granted for just about any wild scheme. One venture proposed to drain the Red Sea to recover gold supposedly lost when the Egyptian army drowned pursuing Moses and the Israelites. By 1698, government debt grew from the initial 1.25 million pounds to 16 million pounds. Naturally taxes were increased, and then increased again to pay for all of this. With the British money supply firmly in their grip the British economy began a wild roller coaster series of booms and depressions exactly the sort of thing a central bank claims it is determined to prevent. There are two things which I think are intrinsic not just to the bank of England but to Central Banks in general the first is an involvement in the formulation of monetary policy with the specific objective of achieving monetary stability. However, since the Bank of England took control the British pound has rarely been stable. Now let's take a look at role of the Rothschild family the family said to be the wealthiest in the world. This is Frankfurt, Germany. 50 years after the Bank of England opened its doors a goldsmith named Amshel Moses Bauer opened a coin shop, a counting house, in 1743. And over the door he placed a sign depicting a Roman eagle on a red shield. The shop became known as the 'red shield firm' or in German, "Rothschild". When his son, Amschel Mayer Baeur, inherited the business he decided to change his name to "Rothschild". Amschel soon learned that loaning money to governments and kings was more profitable than loaning to private individuals. Not only were the loans bigger, but they were secured by the nation's taxes. Mayer Rothschild had 5 sons. He trained them all in the skills of money creation then sent them out to the major capitals of Europe to open branch offices of the family banking business. His first son, Amschel Mayer, stayed in Frankfurt to mind the hometown bank. His second son, Solomon was sent to Vienna. His third son, Nathan, was clearly the most clever. He was sent to London at age 21 in 1798, a hundred years after the founding of the Bank of England. His fourth son, Karl, went to Napels and his fifth son, Jacob, went to Paris. In 1785 Mayer Amschel moved his entire family to this larger house a 5 story dwelling he shared with the Shiff family. This house was known as the "Green Shield". The Rothschilds and the Shiffs would play a central role in the rest of European financial history and in that of the U.S.

Video Details

Duration: 9 minutes and 59 seconds
Country: Netherlands
Language: English
Producer: Bill Still
Director: Bill Still
Views: 143
Posted by: tyg1989 on Apr 7, 2011

Money Masters part 3

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