Are Big Banks Blackmailing Our Government?

Radio commentator and author Chuck Morse has researched the history of American money from Colonial times to the present in his new book, The Art and Science of American Money – How Our Money Is Created and Why It Matterswhich is available at Amazon.com

The CEO’s of JP Morgan Chase, BNP Parabas and Deutsche Bank have threatened our nation and our elected President Barack Obama by claiming that if the United States defaults on the loans borrowed from the three banks, major share-holders in the Federal Reserve, then there will be dire consequences for the economy.    

Deutsche Bank chief executive Anshu Jain, speaking on Saturday at an Institute of International Finance conference in Washington D.C. said that a default would be “utterly catastrophic” and would result in “a very rapidly spreading fatal disease.”

Reuters reports, “Jain, JP Morgan Chase chief executive Jamie Dimon and Baudouin Prot, chairman of BNP Paribas said that a default would have dramatic consequences on the value of U.S. debt and the dollar and likely would plunge the world into another recession

Chuck Morse says that these private international bankers are blackmailing our elected government into paying them usury interest rates on money that our government did not need to borrow. Our government holds the constitutional prerogative to raise the revenue it needs by various forms of taxation and, additionally, our Congress can simply issue the money the government needs to pay its bills directly from the Treasury interest free.
Our elected President and Congress should respond to this threat from the bankers, which is almost as serious a threat of military invasion, by renegotiating the terms of the loans and establishing a payment plan to pay them back. This should be done slowly and carefully, over time, by paying the bank loans with U.S.Notes or Greenbacks.  

The Constitution says that Congress, not a cartel of private bankers and investors, holds the responsibility to “coin money” or create the money, and to “regulate the value thereof,” which means that the Congress regulates the value of our money by deciding how much or how little they choose to spend.

If they spend too much, we have inflation; if they do not spend enough we have depression. The Constitution authorizes our Federal Government the right to create and regulate the value of the dollar, and we the people make this decision through our elected representatives in Congress.

Our elected President should not succumb to this blackmail by the private bankers who threaten to sink our economy if they don’t get to lend us more of our own money at interest, and then use the money they create to pay themselves.

President Obama likes to compare himself to President Abraham Lincoln.

In that vein, President Obama ought to do as Lincoln did when he was confronted by similar threats from private bankers. Lincoln responded by authorizing Congress to issue interest-free Greenbacks to pay the costs of running the government including the financing of the Union Army. Lincoln’s Greenbacks were issued, the economy was stabile and the Union was saved. 

Schedule Chuck Morse on your show today for a full discussion on this timely subject! 

Chuck Morse CREDS
Hosts the radio talk show Chuck Morse Speaks on the IRN/USA Radio Network
Author of several books, including:
The Art and Science of American Money – How Our Money Is Created and Why It Matters
American Testament – The Declaration of Independence and the U.S. Constitution – Keys to America’s Future  
Author Book Page:  Books by Chuck Morse
Columnist:  Published in The Boston Globe, The Washington Times, The Providence Journal, WND, Newsmax and Front Page. 
Challenged Rep. Barney Frank in Massachusetts for Congress in 2004.

PROFILE:

Chuck Morse is the host the radio talk show “Chuck Morse Speaks” which is nationally syndicated on the IRN/USA Radio Network Mon – Fri 10 AM – Noon ET. He is the author of books as well as columns that have been published in The Boston Globe, The Washington Times, The Providence Journal, the New Bedford Standard Times, WND, Newsmax and Front Page. Chuck Morse received the 2003 Communicator of the Year award from the National Right to Work Committee and was named a “Heavy 100” Radio Talk Host by Talkers Magazine. Morse ran for Congress in 2004 against Rep. Barney Frank in Massachusetts.

Chuck Morse speaks on several topics covered in his books which are published on Amazon Kindle.

Those books may be reviewed and purchased at Amazon.com; or go here now:  Books by Chuck Morse

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