by Bill Parks

Created on: March 26, 2009

Of course the U.S. is headed for a depression, like so many other nations, England, Japan, and the Philippines to name a few, using the British Banking System with its privately owned central bank we are going to suffer a similar fate.

Any government abdicating its sovereign responsibility to provide plenary, monetary resource for the nation, delegating its authority to a private banking system, as the U.S. has done, condemns its citizens to poverty, misery and a form of economic slavery. When American money is created as debt, when the total debt in the US is $53 trillion, when repaying that debt will require the entire money supply, and when the unfunded interest is nearly $3.2 trillion; an acute shortage of money results throughout the entire economy. This acute shortage of money has generated a climate of competition and greed that is destroying our economy and eventually will tear apart the social fabric of our nation: a depression.

A parasite on economic activity, a central banking system hides its true operations, obfuscating its actions with complex jargon, disguising its workings to look like a government function, printing money using government departments to give the appearance of legitimacy, magically creating money out of nothing by using fractional reserve procedures, lending other peoples money and making profit on it at every turn at the public's expense. Banks do not risk their own money, using money deposited for safe keeping, keeping only a small fraction of it in reserve to pay customers who demand to withdraw their money, lending out most of the money intrusted to them to other people and businesses, collecting interest, their profit, on the loans, draining the life blood out of the economy. Banks never lend their own capital.

If you have a bank account, you are an essential part of the banker's game. Fractional reserve procedures work by crediting the same money to two or more people at the same time. If you have a bank account, you provide a necessary ingredient in their scheme - money. For example, if you deposit $1,000 in a savings account, the bank can turn your deposit into $9,000 of new money, creating it by simple bookkeeping. In general, for every $1.00 deposited in an account, the banks can create $9.00 out of thin air using fractional reserve lending procedures.

If the reader is interested, here is how they do it. Using a fractional reserve limit of 10%, the bank may lend $900 of your money to a second client, reporting $1,000 in

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