The Cyclical History of Central Banking in America

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This article traces the history of central banking in America, starting with the Bank of North America in 1782 and the First and Second Banks of the United States in the late 18th and early 19th centuries. It describes how these early central banks, modeled after the Bank of England, were used by bankers and politicians to create boom-and-bust cycles that enriched the banks and government while ruining the public. The article then discusses the creation of the Federal Reserve in 1913, which continued this pattern of central bank-driven economic instability that has devalued the US dollar by over 97% since then. The author warns readers to be wary of their banks and consider removing assets from the banking system, as history suggests another crash may be imminent.

Why it matters

This historical overview of central banking in America is relevant today as the country faces an economic crisis driven by debt, which the author argues has been intentionally created by the collusion of bankers and politicians through the central banking system. Understanding this cyclical pattern of booms and busts engineered by central banks can help the public recognize the warning signs and protect their assets before the next inevitable crash.

The details

The article traces how central banks like the Bank of North America, the First and Second Banks of the United States, and ultimately the Federal Reserve have repeatedly caused economic crises that benefited bankers and politicians at the expense of the public. It describes how these central banks would first expand the money supply through easy lending, then suddenly contract it, triggering 'panics' or 'depressions' that wiped out many depositors while the banks and their political allies were bailed out. The author cites historical figures like William Gouge and G. Edward Griffin to argue that these booms and busts were not accidents, but the result of a calculated strategy by bankers like the Rothschild family to enrich themselves through their control of the central banking system.

• In 1782, the Bank of North America was opened in America during the infancy of the United States.
• In 1791, Congress approved the charter for the second 'Bank of the United States' despite the recent failure of the Bank of North America.
• In 1819, the second 'Bank of the United States' caused the Panic of 1819, as William Gouge described: 'the bank was saved and the people were ruined.'
• In 1913, the Federal Reserve was created, a more sophisticated central banking system that has operated ever since, causing the US dollar to be devalued by over 97%.

What’s next

The article encourages readers to ask themselves questions about the stability of their banks and whether they should remove their assets from the banking system, as history suggests another economic crash may be imminent.