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nydus/The Legalized Crime of BankingPublic

Silas Walter Adams critiques the Federal Reserve Banking System, arguing that its monetary policies have significantly inflated the costs of war and national debt. The book examines the historical impact of private banking practices on the American economy and proposes a constitutional alternative for the management of the nation's money supply.

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Table of Contents

Chapter IV The Legalized Crime Of Banking

not cost them a thin dime. In due course of time the bankers get bank deposits for all loans and will re-sell all securities, and add this $100 million plus interest to their account, making a total of $120 million plus interest and dividends the bankers add to their profit accounts when the cycle is completed. The $20 million Reserve cheque, the $20 million corporation stock, $20 million bank reserves, the $100 million bank credit—none of it cost the bankers one thin dime; therefore the $100 million in notes, mortgages, etc., which they bought with the bank credit cost them not one thin dime. Then the $120 million profit they added to their account cost them not one thin dime. Their customers got the use of the $100 million at heavy interest cost, for just a short time, then it became the permanent assets of the bankers. The whole process was just simple bookkeeping. That's how Sir Josiah Stamp meant bankers would with the flick of a pen create enough money to buy the world back again!"

Legalized Robbery The United States Government issued more

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