It started with goldsmiths. As early bankers, they initially provided safekeeping services, making a profit from vault storage fees for gold and coins deposited with them. People would redeem their "deposit receipts" whenever they needed gold or coins to purchase something, and physically take the gold or coins to the seller who, in turn, would deposit them for safekeeping, often with the same banker. Everyone soon found that it was a lot easier simply to use the deposit receipts directly as a means of payment. These receipts, which became known as notes, were acceptable as money since whoever held them could go to the banker and exchange ...

Saving banks at any cost, making the public pay the price, foregoing a firm commitment to reviewing and reforming the entire system, only reaffirms the absolute power of a financial system, a power which has no future and will only give rise to new crises after a slow, costly and only apparent recovery. The financial crisis of 2007-08 provided an opportunity to develop a new economy, more attentive to ethical principles, and new ways of regulating speculative financial practices and virtual wealth. But the response to the crisis did not include rethinking the outdated criteria which continue to rule the world. - - Pope Francis - June 2015 Encyclical ...

“The vast amount of money paid to Wall Street by America’s cities, counties, and states has profound impacts on our lives and local economies.” “It’s a staggering amount: Hundreds of billions of dollars move from taxpayer pockets into private Wall Street hands each year in the form of interest payments on bonds, loans, fees, and financial product costs” “The debt load is squashing local economies, ruining our school systems, letting our infrastructure crumble, and so much more.” “Breaking our dependence on Wall Street usury means reclaiming control of our money through publicly-owned, public-interest banks.” - - The Public ...

“The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity.” - - Abraham Lincoln "We have what is known as the Federal Reserve Bank System. That system is not owned by the Government. Many people think that it is because it says “Federal Reserve.” It belongs to private banks, private corporations. So we have farmed out to the Federal Reserve Banking System - that which is owned ...

  Imagine yourself an intergalactic traveler visiting Earth. You land in a place called America and notice the crumbling infrastructure. You wonder, “Why would a people who had built such magnificent highways, bridges and airports allow them to fall into such disrepair?” You question: “Does America have sufficient cement, sand and gravel to rebuild its infrastructure? Yes. Is there adequate structural steel and other needed materials? Yes. Is there construction equipment? Yes, it sits idle. Is there fuel for the equipment? Certainly, America currently exports energy. Do Americans have the knowledge? They’ve built roads, bridges and ...