1776 War for Independence. Royal debt be gone!Submitted by Mark Twain on Tue, 10/02/2012 - 19:53
- The American Revolution, 1776
"Like nearly all revolutions in history, was an uprising not against a king and his ministers, but against a system and a state of mind. Nor was the system the work of George III, Hillsborough, Townshend, or Lord North, for they were its products not its creators. It was the result of the Revolution of 1688, [extending the power of the Magna Carta] which gave power to the men of the landowning and monied classes of England. They, although they bore titles of nobility and constituted the county aristocracy, were of middle-class origin and under their rule were fashioned those rigid and sinister ideas of power and government which permeated the whole official world of king, ministries, parliament, council, departments, and boards, all having, to do with administration at home and abroad" (Andrews, Colonial Background of the American Revolution, p. 218).
The Bank of England was chartered in 1694 in order to wrest the New World from the mother country and create a RIVAL power to Great Britain. This was to implement the Bull of Pope Alexander VI.
King William III (king from 1688 to 1702) was a moneychanger from Holland. During the reign of Queen Elizabeth I, England spent a hugh amount of money helping the Hollanders to throw off the Spanish yoke. Their reward was the Bank of Rome controlled William of Orange.
King William's wife, Queen Mary, died in 1694... the very year that the Bank was chartered. Was it another timely demise like King Henry VII?
The Bank of England's strategy was to completely control the British Government. Then they could apply pressure on the colonies and force them to rebel. Lastly, they would impose a Bank of England type bank on the Colonies. This they did in the year 1791. It was called the Bank of the US. General Jackson refused to renew the bank charter and it died an unnatural death in 1836. The corrupt US bank was re-chartered in 1913 under the name Federal Reserve Bank.
Bank of England: T'was a line of credit. A promissory note.
Submitted by Mark Twain on Tue, 08/02/2011 - 16:27
- Bank of England Charter, 1694
- Loaned into existence
The bank was founded by the Scotsman William Paterson in 1694 to act as the English government's banker. He proposed a loan of £1.2m to the government. In return, the subscribers would be incorporated as The Governor and Company of the Bank of England, with banking privileges including the issue of [promissory] notes. The first governor was Sir John Houblon. The Royal Charter was granted on July 27, 1694, and was renewed in 1742, 1764, and 1781.
The Bank was originally constructed above the ancient Temple of Mithras, [God of contracts] at Walbrook, dating to the founding of Londinium [London] in antiquity by Roman garrisons... In 1734, the Bank moved to its location on Threadneedle Street, slowly acquiring the land to create the edifice seen today.
When the idea and reality of the National Debt came about during the eighteenth century this was also managed by the bank. By the charter renewal in 1781 it was also the bankers' bank—keeping enough gold to pay its notes on demand until February 26, 1797 when the French Revolutionary Wars so diminished gold reserves that the [English] government prohibited the Bank [of England] from paying out in gold. This prohibition lasted until 1821.
The 1844 Bank Charter Act tied the issue of notes to the gold reserves and gave the bank sole rights [Monopoly Money] with regard to the issue of banknotes [promissory notes]. Private banks which had previously had that right retained it, provided that their headquarters were outside London, and that they deposited security against the notes that they issued [The Crown]. A few English banks continued to issue their own notes until the last of them was taken over in the 1930s. The Scottish and Northern Irish private banks still have that right. Britain remained on the gold standard until 1931, when the gold and foreign exchange reserves were transferred to the Treasury, although their management was still handled by the Bank. In 1870 the bank was given responsibility for interest rate policy.
During the governorship of Montagu Norman, which lasted from 1920 to 1944, the Bank made deliberate efforts to move away from commercial banking and become a central bank. In 1946, shortly after the end of Norman's tenure, the bank was nationalized. [Many debatable points, but a good timeline of events.]
$ __\_\_o_o___/_| ___________________
<[___\_\___?j--<^\ Free Paper-Money \
$ o' . \ _Monopoly-Money ®_\
_@' "Legal Tender!!!"
o\ "Bank Bailout!!!"
"Too Big the Bank, too hard the fall!"