Fractional Reserve Fiat Banking
June 18, 2013 Leave a comment

Gold is the initial deposit, while paper notes function as the representative medium of exchange that can be expanded or contracted.
By: Jay
Dr. Carroll Quigley was Bill Clinton’s mentor at Georgetown. Quigley was the chronicler of the elite “Anglo-American Establishment,” as he titled it, having access to their provate records and archives. His large tome Tragedy & Hope occupies an important place in the history of ideas, functioning as a modern history for insiders. Though the book was published in 1966 with some controversy, it was republished in 1974, reportedly being given to CIA section chiefs as an explanation of why certain actions and operations were being carried out.
In other words, it might have occurred to some section chiefs in the 1970s, “Why are we funding both right wing and socialist movements?” The answer is in Quigley’s Tragedy & Hope: The goal has never been some set ideology, but a world government under the auspices of “Democratic capitalism.” While Quigley’s book is a great insight, it is important to recognize that the book is an establishment apologia, written from the perspective of a classical Western progressive. For Quigley, the track the West had taken the last several hundred years was both good and bad, but largely good, as he proposes the thesis that western-progressive-democratic-capitalist-scientism was a great, noble and ultimately quasi-Christian development that would usher in a world federation of the best hoped possibilities.
In this regard, Quigley was way off, if not openly deceptive, and terribly ignorant in terms of religion. This is evident to any knowledgable theologian, but for the more practically minded “officials” for whom the book was written, it probably served its purpose. Dr. Quigley naively seems to think that the Anglo-American establishment truly wants the best for humanity, but his book never mentions the cryptocracy. For him, the assumptions are the same as the rest of post-enlightenment western liberalism: men are basically good, and seek the betterment of mankind when properly educated. Of course, the 20th century alone should be enough to convince anyone with half a brain that humans are self-seeking and self-destructive. In his first few chapters he even sets the stage for modern history being developed on the basis of 19th century notions of the non-existence of evil. Read more of this post








