Thread: I killed the Bank

When asked what was his greatest accomplishment during his two terms as President, Andrew Jackson replied "I killed the Bank."

He was talking about the "Second Bank of the United States", which was our country's second central bank.

Though he succeeded in killing the central bank, another central bank was created in 1913, known as "The Federal Reserve"... This central bank is still with us today.

But what does this have to do with immigration?.. I think that the central bankers like immigration, because it increases population growth, which in turn increases GDP growth, which helps boost bank profits.

The way the bank estimates potential GDP growth is to add productivity growth with population growth... So, if productivity growth is estimated to be 2% and population growth is estimated to be 1%, then the GDP growth is estimated at 3%...

I dimly recall reading somewhere that our new Federal Reserve chairman Ben Bernanke is in favor of increased immigration... Also, I read somewhere that about 90% of population growth (since 1970) has been directly and indirectly due to immigration.

But anyway, the central bankers are powerful... Read all about how hard it was for Andrew Jackson to kill the Bank... I included a transcript ( that I made with my bare hands - you're welcome ) from the "Money Masters", which is a 2-hour video that talks about the history of central banking and which includes the part about Andrew Jackson (i.e. advance the video to the minute marker 1:05:00.)

To see the video, just go to google video and type in "money masters".
http://video.google.com/videoplay?docid ... ters&hl=en

I'm anxious to see the whole 3 hour version, which I discovered is located here (for $19.95):
http://www.themoneymasters.com /

Also, you can get the 3-hour version from bit torrent:
http://www.meganova.org/details/312437.html

http://en.wikipedia.org/wiki/The_Money_Masters
By the way, the movie was made in 1995.

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Trascript for the Money Masters - This is just the part about Andrew Jackson. "I Killed the Bank."
1:05:00

15. Second Bank of the U.S.

Meanwhile back in Washington, in 1816, just one year after Waterloo and the Rothschild's alleged takeover of the Bank of England, the American Congress passed a bill permitting yet another privately owned central bank... This bank was called the Second Bank of the United States... The new bank's charter was a copy of the previous banks... The U.S. government would own 20% of the shares of the bank... Of course, the Federal share was paid by the Treasury up front into the Bank's coffers... Then, through the magic of fractional reserve lending, it was transformed into loans to private investors who then bought the remaining 80% of the shares... Just as before, the primary stock holders remained a secret, but it is known that the largest block of shares, about 1/3rd of the total, were sold to foreigners... As one observer put it, it is certainly no exaggeration to say that the Second Bank of the United States was rooted as deeply in Britain as it was in America... So, by 1816, some authors claim, the Rothschilds had taken control of the Bank of England and backed the new privately owned central bank in America as well.

16. Andrew Jackson

After 12 years of manipulations of the US economy on the part of the Second Bank of the U.S., the American people had had just about enough... Opponents of the Bank, nominated a dignified senator from Tennessee named Andrew Jackson, the hero of the Battle of New Orleans, to run for President... This is his home, "The Hermitage"... No one gave Jackson a chance initially... The Bank had long ago learned how the political process could be controlled with money... To the surprise and dismay of the "money changers", Jackson was swept into office in 1828.

Jackson was determined to kill the Bank at the first opportunity... And he wasted no time in trying to do so... But the Bank's 20-year charter didn't come up for renewal until 1836, the last year of his second term, if he could survive that long... During his first term, Jackson contented himself with rooting out the Bank's many minions from government service... He fired 2,000 of the 11,000 employees of the federal government.

In 1832, with his re-election approaching, the Bank struck an early blow, hoping that Jackson would not want to stir up controversy... They asked Congress to pass a renewal bill 4 years early... Naturally, Congress complied and sent it to the President for signing, but Jackson weighed-in with both feet... "Old Hickory", never a coward, vetoed the bill... His veto message is one of the great American documents... It clearly lays out the responsibility of the federal government towards its citizens, rich and poor.

"It is not our own citizens only who are to receive the bounty of our Government. More than eight millions of the stock of this bank are held by foreigners .... Is there no danger to our liberty and independence in a bank that in its nature has so little to bind it to our country? ...."

"Controlling our currency, receiving our public moneys, and holding thousands of our citizens in dependence.... would be more formidable and dangerous than a military power of the enemy."

"If [government] would confine itself to equal protection, and, as Heaven does its rains, shower its favor alike on the high and the low, the rich and the poor, it would be an unqualified blessing. In the act before me, there seems to be a wide and unnecessary departure from these just principles."
-- Andrew Jackson

Later that year, in July 1832, Congress was unable to override Jackson's veto... Now, Jackson had to stand for re-election... Jackson took his argument directly to the people... For the first time in US history, Jackson took his Presidential campaign on the road... Before then, Presidential candidates stayed at home and looked Presidential... His campaign slogan was "Jackson and no Bank".

The National Republican party ran Senator Henry Clay against Jackson... Despite the fact that the bankers pored over 3 million dollars into Clay's campaign, Jackson was re-elected by a landslide in November of 1832.

Despite his Presidential victory, Jackson knew the battle was only beginning... The hydra of corruption is only scotched, not dead, said the newly elected President... Jackson ordered his new Secretary of Treasury, Lewis McClean, to start removing the government's deposits from the Second Bank and start placing them in state banks.

But McClean refused to do so... Jackson fired him and appointed William J Duane as the new Secretary of the Treasury... Duane also refused to comply with the President's requests and so Jackson fired him as well. And then appointed Roger B Teney to the office... Teney did withdrawal government funds from the Bank starting on October 1st, 1833... Jackson was jubilant... "I have a chain. I'm ready with screws to draw every tooth and then the stumps.".

But the Bank was not yet done fighting... Its head Nicholas Biddle used its influence to get the Senate to reject Teney's nomination.

Then, in a rare show of arrogance, Bittle threatened to cause a depression, if the Bank was not rechartered... "This worthy President thinks that because he has scalped Indians and imprisoned Judges, he is to have his way with the Bank. He is mistaken."
-- Nicholas Biddle

Next, in an unbelievable fit of honesty for a central banker, Biddle admitted that he was going to make money scarce to force Congress to restore the Bank.

"Nothing but widespread suffering will produce any effect on Congress.... Our only safety is in pursuing a steady course of firm restriction - and I have no doubt that such a course will ultimately lead to restoration of the currency and the recharter of the Bank."
-- Nicholas Biddle

What a stunning revelation... Here was the pure truth, revealed with shocking clarity... Biddle intended to use the money-contraction power of the Bank to cause a massive depression until America gave in... Unfortunately, this has happened time and time again throughout US history, and is about to happen again, in today's world.

Nicholas Biddle made good on his threat... The Bank sharply contracted the money supply by calling in old loans and refusing to extend new ones... A financial panic ensued, followed by a deep depression... Naturally, Biddle blamed Jackson for the crash, saying that it was caused by the withdrawal of federal funds from the Bank.

Unfortunately, his plan worked well... Wages and prices sagged... Unemployment soared, along with business bankruptcies... The nation quickly went into an uproar... Newspaper editors blasted Jackson in editorials... The Bank threatened to withhold payments, which then could be made directly to key politicians for their support... Within only months, Congress assembled in what was called the "Panic Session."

Six months after he had withdrawn funds from the Bank, Jackson was officially censured by a resolution that passed the Senate by a vote of 26 to 20... It was the first time that a President had ever been censured by Congress... Jackson lashed out at the Bank... "You are a den of vipers. I intend to rout you out and by eternal God, I will rout you out."

America's fate teetered on a knife edge... If Congress could muster enough votes to override Jackson's veto, the Bank would be granted another 20 year monopoly or more over America's money, time enough to consolidate its already great power.

Then, a miracle occurred... The governor of Pennsylvania came out supporting Jackson and strongly criticized the Bank... On top of that, Biddle had been caught boasting in public about the Bank's plan to crash the economy... Suddenly the tide shifted... In April of 1834, the House of Representatives voted 134 to 82 against rechartering the Bank... This was followed up by an even more lopsided vote to set up a special committee to investigate whether the Bank had caused the crash.

When the investigating committee arrived at the Bank's door in Philidelphia, armed with a subpoena to examine the books, Biddle refused to give them up, nor would he allow inspection of correspondence with Congressmen, relating to their personal loans and advances he made to them... He also refused to testify before the committee back in Washington.

In January 8th, 1835, Jackson paid off the final installment on the national debt, which had been necessitated by allowing the banks to issue currency for government bonds, rather than simply issuing treasury notes without such debt... He was the only President to ever pay off the debt.

A few weeks later, on January 30th, 1835, an assassin by the name of Richard Lawrence, tried to shoot President Jackson... But by the grace of God, both pistols misfired... Lawrence was later found not guilty by reason of insanity... After his release, he bragged to friends that powerful people in Europe had put him up to the task and promised to protect him if he were caught.

The following year, when its charter ran out, the Second Bank of the United States, ceased functioning as the nation's central bank... Biddle was later arrested and charged with fraud... He was tried and acquitted, but died shortly thereafter, while still tied up in civil suits.

After his second term as President, Jackson retired here to the Hermitage outside of Nashville to live out his life... He is still remembered here for his determination to kill the Bank... In fact, he killed it so well that it took the "money changers" 77 years to undo the damage.

When asked what his most important accomplishment had been, Jackson replied, "I killed the Bank."

17. Abe Lincoln

Unfortunately, even Jackson failed to grasp the entire picture and its root cause... Although Jackson had killed the central bank, the most insidious weapon of the "money changers" - fractional reserve banking - remained in use by the numerous state-chartered banks... This fueled economic instability in the years before the Civil War... Still, the central bankers were out... And as a result, America thrived as it expanded westward.

During this time, the principal "money changers" struggled to regain their lost centralized power, but to no avail... Then, finally they reverted to the old central banker's formula: war to create debt and dependency... If they couldn't get their central bank any other way, America could be brought to its knees by plunging it into a Civil War, just as they had done in 1812, after the First Bank of the United States was not re-chartered.

[/quote]But what does this have to do with immigration?.. I think that the central bankers like immigration, because it increases population growth, which in turn increases GDP growth, which helps boost bank profits. [quote]



Forced population growth through illegal and legal immigration is at the root of many if not most of our problems and yet our leaders insist on inflicting this on us. It is an artificial way of stimulating the economy and heading off SS collapse. The question I have is how many people are enough before our leaders are willing to acknowledge this? When we all start behaving like rats in a crowded cage? I think we already are.

Originally Posted by Kate

The question I have is how many people are enough before our leaders are willing to acknowledge this? When we all start behaving like rats in a crowded cage? I think we already are.

I fear the whole idea is to turn us into gerbils on a spinwheel, which cranks out the GDP, with an ever-increasing share going to the wealthiest people in the world.

My guess is our leaders envision us being part of the billion club like India and China, but even that won't be enough... Because more labor-units is always better.

We need to wrest control from our leaders, because they will never acknowledge who benefits and who loses from mass immigration... And they will never choose to limit immigration, at least not while they believe they're benefitting.

You need to check out my post explaining how the debt ceiling for our federal government is predicated on the number of people it can register as chattel via the SSN or ITIN. In other words, if the federal government needs a boost to the debt ceiling, which it has in fact needed with the vastly increased spending following 9/11, it needs to register more human beings as security for the debt. It doesn't matter whether they are lawful citizens or not, so long as they are bound to the debt by the acceptance of their frnachise number.

Huh, interesting, is that how it works?

I wonder what's our credit limit, assuming the labor force were to stay at its current level of somewhere around 150 million.

I think I read your post here at this topic, which was pretty interesting:
http://www.alipac.us/modules.php?name=F ... ic&t=44640
The Movie, "From Freedom to Facism"

Just goes to show...power always corrupts and absoltue power corrupts absolutely. Government always ends up full of "Judas' " who manilpulate and rape the people. Politicians of integrity and loyalty to their country, culture and traditions are just a romantic memory of the past. What a shame...

Originally Posted by lost_mummy

Huh, interesting, is that how it works?

I wonder what's our credit limit, assuming the labor force were to stay at its current level of somewhere around 150 million.

I think I read your post here at this topic, which was pretty interesting:
http://www.alipac.us/modules.php?name=F ... ic&t=44640
The Movie, "From Freedom to Facism"

Last I heard, the debt ceiling was about $9.125 trillion.