A Day of Infamy

December 8, 2001

No, not December 7th. More than likely, that was a day of fulfillment, a time anxiously anticipated. The day I refer to is next January 1, when three hundred million Europeans will be conquered by the euro. They will succumb without a fight, and probably not realize the fact of their defeat.

My wife and I visit Spain frequently, because our daughter and her family live there. For at least a year, goods in Spanish markets have been priced in pesetas and euros, although the average Spaniard had no euros. That will change on January 1, when the peseta will be replaced by the euro. While Spaniards-and other Europeans-may grumble about the replacement of their traditional currency with an unfamiliar one, they will continue to write numbers on checks as they have always done. They will continue to make purchases with cash, although the paper chits they use for the purpose may have a different design, size, and color. Within a few weeks, or sooner, the grumbling will subside, and the conquest will be complete.

Admittedly, anyone using a fiat currency is already at the mercy of the issuer of the fiat. Amschel Rothschild commented that he cared not who made the laws if he could issue the currency. He was certainly right: if the lawmakers were dependent on him for money, he controlled them, not the other way around. Of course, no one paid old Rothschild any heed. One might almost define the truth as that which is not believed, if it is heard at all.

President Chester Arthur declared that all industry and commerce were at the mercy of the issuer of credit. Reginald McKenna, Chancellor of the Exchequer of England, pointed out that those who create and issue money direct governments and hold the destiny of the people in the hollow of their hands. Josiah Stamp, president of the Bank of England, told us that bankers own the earth. He, and the others, might as well have spoken to the wind.

And, if bankers own the earth, they own the people who populate it. When citizens cannot produce their own medium of exchange, but only borrow a fictitious one from a privileged group allowed to create it from nothing, their enslavement is complete, though it be relatively painless and unappreciated. Happy contented slaved are the best, and most productive!

Of course, the degree of enslavement depends upon the degree of the borrowing, and the amount of fiat held. One who makes trades using, say, gold, or silver (or whatever) which he or his trading partners own, are not under the banker's thumb. Those who exchange the banker's fiat for wealth with which to barter, are also less under the banker's control. Governments, however, are big borrowers. Their grandiose schemes require funding in amounts which could not be seized from the people without revolution, or the destruction of the economy in such an obvious way as to spell the political suicide of the politicians/thieves. Fiat makes their ambitions possible. This is what Franklin Roosevelt had reference to when he wrote to Colonel House that the American government has been owned by the banking interests since the days of Andrew Jackson.

Thus, even those who eschew the use of fiat, but accept that the whims of strangers in large impressive buildings are "law," and to be taken seriously, come under the control of the financiers of the government, which will declare the fiat a "legal tender," and accept it for taxes. There's no escape. Spaniards, for example, were at the mercy of the issuers of pesetas. However, if they thought that the pesetas were being issued in excess, they could acquire francs, or marks. That will end on January 1, when pesetas, marks, francs, etc., cease to exist. On that day, the Spanish, as well as Germans, French, and Swiss, etc., will come under the domination of the issuers of euros, and their respective governments will be required to kneel before those individuals for funds to carry out their programs.

Recently, an armored car was robbed in Europe. The thieves made off with a couple of million dollars worth of marks. They left behind, untouched, bundle upon bundle of euro notes, apparently aware that the euro paper is not yet a legal tender, and therefore nothing more than a colorful chit-monopoly money, for the time being, until it becomes, literally, the monopoly money, thanks to the power of coercion inherent in "legal tender" laws.

The war being waged is between the central bankers. The winner is the bank with the most debtors on his books. The losers are all those required, via legal tender laws, to use the conqueror's scrip and to exchange their labor for it. You can safely assume that when the conquest of three hundred million people is finalized on January 1, that the event will be largely ignored. The lessons of history, though writ large and clear, remain a matter of unconcern. Yet it remains true: freedom and fiat are incompatible!

Seventy-five percent of all gold in circulation has been extracted since 1910