Fractional Reserve Fiat Banking

Jay's Analysis

Gold is the initial deposit, while paper notes function as the representative medium of exchange that can be expanded or contracted. 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…

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