10. Cartelization of Banking: The Fed
Bernard Baruch ran WWI as an absolute collectivist controller. The Federal Reserve was created in 1913 by Morgan men to cartelize the banking system and limit competition. Production and prices were regulated via the corporate state. Morgan men wrote the FTC- Federal Trade Commission Act. Progressive means statist and corporatist. The New Republic, a proto fascist magazine- appeared.
Banks create fake warehouse on-demand receipts. One was a note, but the more sophisticated way was by having open-book accounts by which you have a demand deposit, not a bank note. The check is a transfer order…
The skinny
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