by Robert Borneman

Created on: April 23, 2008

A global central bank would NOT maintain price stability. If we finally looked through history for once we would probably notice that rarely if ever has a central bank done anything worthwhile. The idea that the Federal Reserve in the United States has done anything positive is a complete falsity.

With the big bankers first try in 1791, they encouraged congress to establish the first central bank in America, the "First Bank of the United States." The idea of putting not only the country's monetary assets into the hands of a privately owned bank, but also giving that bank the responsibility to supply and maintain our money, AT INTEREST, was a disturbing idea to the people of the colonies. At the end of the bank's original 20 year charter, it was not voted back in and America went back to taking care of its own money.

The bankers tried to regain the power they so longed for again soon after. In 1816 they once again convinced congress to charter a national bank. And once again soon after, in 1836, it was brought down by Andrew Jackson and the popular American opinion.

However, seeing as how money and greed are the root of corruption, and big bankers have tons of money and greed, it seems almost inevitable that another federal system of banking was on the way. When the US government passed the National Banking Act of 1863, J.P. Morgan, among others, saw his dreams of world domination slipping through his grasp. After knowing of Rockefeller's success in national banking, it seems that the economic panic of 1907 was more than likely a scheme.

In the 1890's a couple of banking scares set the stage for Morgan to unleash his scandal. In 1907 J.P. Morgan, an already established banking 'expert', 'speculated' that wall street was about to collapse, and banks would have no money to pay out when customers came to cash in their accounts. This, of course, caused a major banking panic. As a severe economic recession set in, Morgan, Rockefeller, Rothschild, and other major bankers joined forces to push the US government towards a 'new' type of "decentralized - central bank."

The federal bank 'loans' money to the government at Interest. This means all the paper money the United States uses, puts the country into deeper and deeper debt. All this run by a privately owned group, not part of the government. The Federal reserve also sets the interests rates, again with no approval from anyone.

Being that the central bank is in the business of making money, and the government is also in the business of making money, this of course sets the stage for enormous corruption. The same corruption that most likely got the central bank to where it is today. We simply cannot let the worlds politics be controlled by a private company.

A Global central bank would be terrifying. One company controlling the entire world's economic structure. The central bank of America got abolished 2 times and was hardly granted a charter a 3rd time on the heels of economic failure. Its obviously a failure of a system.

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