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Monday, December 27, 2010

History of Central Banking in the United States (1)


1) Many people are learning about the importance of the Fed, and how the Fed is fundamentally influencing the US economy and thus, indirectly, the world economy.

2) A small group of these people are also learning that the Fed has many powers to influence the people's financial life, not least of which is the power to create money and lend it throughout the world, at interest, which has a technical term of 'monetizing debt'.

3) It seems that quite a number of people are particularly shaken, shocked, or upset by the Fed's power to create money and loan it, after all, masses of merchants are feeling financial pressure and yet the Fed is endowed with the skill of creating money, so strong responses to this information seem somewhat plausible, do they not?   Some of these people, upon learning that the Fed is not a lone loaner, but one of many, a child born of a system, which is increasingly interfacing our planet (hence, Bank of Japan, Reserve Bank of Zimbabwe, Banco Central do Brasil, etc.) --- known as the central banking system, these people begin adjusting their entire life to adapt to the penetrating powers of central banking.

4) Some of the more intellectually hungry minds who learn of this special information, go deeper, and learn that not only is the Fed one of many central banks established the world over, but is not new and is actually the fourth central bank in the history of the United States.

5) Central banking began in 1694 in the womb of America's mother, England, with the Bank of England, and the Bank of England remains today.

6) Nearly a century following the charter-day of the Bank of England, in 1781, the first central bank in the United States --- the Bank of North America, was chartered.

7) Ten years later, in 1791, the First Bank of the United States was chartered.

8) Twenty-five years later, in 1816, the Second Bank of the United States was chartered.

9) Nearly a century following the charter-day of the Second Bank of the United States, in 1913, the current central bank in the United States --- the Federal Reserve System, was chartered.

10) Up to the present writing, there have been four central banks in the United States:

1 --- Bank of North America, 1781
2 --- First Bank of the United States, 1791
3 --- Second Bank of the United States, 1816
4 --- Federal Reserve System, 1913

11) The central banking virus is a seed, which as been rooted deep within the US history, spawned from the stoney coffers of England, and has cloned itself in nations all over our world (People's Bank of China, Reserve Bank of India, Central Bank of Nigeria, etc.).

12) Yes, it appears that, perhaps, because these central banks are thee monetary authorities of nations, national financial health, prosperous or impoverished, is significantly a result of the sweeping influence of the central banks, yet, for the savvy investor, central banking, albeit a core influence, is but another condition of the game, to be mastered and monetized, providing yet another valuable opportunity to turn Crisis to Profit.

Mother, Bank of England, 1694

A Child, Central Bank of Iraq, 2004 - البنك المركزي العراق

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