Posts Tagged ‘FIAT money’


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1600: England was determined to keep control of both the American colonies and the natural resources they controlled. To do this, the English limited the money supply and made it illegal for the colonies to mint coins of their own. Instead, the colonies were forced to trade using English bills of exchange that could only be redeemed for English goods, from chartered British Corporations, such as British East India Company. Colonists were paid for their work with these same British bills, effectively cutting them off from trading with other countries.

Any Colonists refusing to conform to this first legalized Corporatist economy was accused of being a “Pirate“, and hung without trial.

In response, the colonies regressed back into a barter system using ammunition, tobacco, nails, pelts and anything else that could be traded. Colonists also gathered whatever foreign currencies they could, the most popular being the large, silver Spanish dollars. These were called pieces of eight because, when you had to make change, you pulled out your knife and hacked it into eight bits. From this, we have the expression of, “two bits”, meaning a quarter of a dollar.

1775: Tensions between America and Britain continued to mount until the Revolutionary War, widely regarded at the time as the greatest Currency War in history.

1790: In the aftermath of the American victory, Mayer Amschel Rothschild of the Bank of London states, “Let me issue and control a nation’s money and I care not who writes the laws.”

1791: The Rothschilds get, “control of a nation’s money,” through Alexander Hamilton (their agent in George Washington’s cabinet) when they set up a central bank in the USA called the First Bank of the United States. This is established with a 20 year charter.

“I care not what puppet is placed upon the throne of England to rule the Empire on which the sun never sets. The man who controls Britain’s money supply controls the British Empire, and I control the British money supply.”

The Rothschilds use their control of the Bank of England to replace the method of shipping gold from country to country and instead used their five banks spread across Europe to set up a system of paper debits and credits (“FIAT” money * *see video below). “Fiat Money” is the banking system of today.