Conspiracies and the Economic Downfall

New World Order – Sometimes it’s hard to take conspiracy theorists serious. When they talk about how banks control all money and making it lose it’s value, while begging you to send them your money so they could theorize conspiracies more, it just becomes another business cashing in on the paranoia of the people.

Still, bankers probably are bastards. They do make money manipulating money and the fact that they are still doing it, it must mean they are rather good at it and not particularly interested or bothered by the concequences. If they wheren’t utter twats, there wouldn’t be foreclosures and things. Selling loans and manipulating the system is their core business.

Conspiracy theorists, or the parasites that feed off them, take it a bit far though. JFK murdered by tentacled alien bankers? It’s stretching it a little. Still it makes for an excellent cartoon.

Unfortunately, it makes it difficult to fight the actual problem with real information and cold hard fact.

The United States, like virtually all advanced nations, has a banking system in which the use of fractional reserves means that most money is generated by banks and not the government. Presiding over this system is a central bank. The central bank for the United States, the Federal Reserve, has considerable independence in its operations, which include monetary policy.

This independence — and the enormous influence that the Federal Reserve has over economic conditions — have given rise to a great deal of conjecture concerning its nature and operations. The theories and suspicions about the system underlie monetary reform proposals frequently advanced by citizens, as well as various complaints and petitions sent to the Members of Congress because of congressional responsibility for the country’s money.

Cut away the bullshit, and you might find something that may be more shocking: It’s flesh and blood humans trying to screw over the system. The obfuscation by sensationalist theorists is as much a danger to the truth. So, dig into some facts. The theory in the cartoon is built upon Executive Order 11110 and tying it into the murder on JFK.

This order revoked the Executive Order 10289 issued by U.S. President Harry S. Truman in 1951, which stated:

“The Secretary of the Treasury is hereby designated and empowered to perform the following-described functions of the President without the approval, ratification, or other action of the President…”

JFK’s order on June 4, 1963 states:

SECTION 1. Executive Order No. 10289 of September 9, 1951, as amended, is hereby further amended (a) By adding at the end of paragraph 1 thereof the following subparagraph (j):

‘(j) The authority vested in the President by paragraph (b) of section 43 of the Act of May 12, 1933, as amended (31 U.S.C. 821(b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of an outstanding silver certificates, to prescribe the denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption,’ and (b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof.

SECTION 2. The amendments made by this Order shall not affect any act done, or any right accruing or accrued or any suit or proceeding had or commenced in any civil or criminal cause prior to the date of this Order but all such liabilities shall continue and may be enforced as if said amendments had not been made.

So, does it contain the evil banker destroying orders as claimed in the cartoon? G. Thomas Woodward tries to answer this in his Money and the Fed: Myth and Reality.