Previously, I posted about President Andrew Jackson – a leader I admire for taking on the Bank of the United States and winning. Yet while he lived on earth as President of the United States, he rejected the idea of paper money in favor of the gold standard. This is something his soul acknowledges as wrong and misguided in Step Two in front of Ascended Masters Moses, Jesus and Mohammad, the other Advanced Souls, and the Salvation Twelve while calling forth President Abraham Lincoln:
“In spite of paying off the national debt and destroying the Bank of the United States, I was wrong about one very important monetary principle,” he admitted. “I wanted to abolish paper money and put the United States on the gold standard, which in retrospect was a terrible idea. I want to call upon former United States President Abraham Lincoln to explain why a paper money system is superior to all others.”
With that, he gestured to the man known in human life as Honest Abe and the Emancipator of the Slaves to join him in addressing the audience on the all-important topic of money and finance. Abraham Lincoln smiled and accepted the invitation. “Thank you, Mr. Jackson,” he acknowledged. Then turning to face the designated Salvation Twelve, he continued. “I must confess, although I am credited with freeing the slaves and ending a tragic period in United States history, in the beginning my main concern was the preservation of the Union. Centralized European bankers were still smarting over the fact that President Andrew Jackson had succeeded in destroying the Bank of the United States. Like America’s Founders he understood the inherent hazards of fractional reserve banking, centralized banking, and monetizing debt based on what he’d seen with the Bank of England, and what he’d learned from studying the history of the money traders all the way back to the Roman Empire.
“Our Founders, along with Mr. Jackson, knew that if Congress had the authority to monetize debt via a central bank rather than operating the government exclusively on taxes and real borrowing, the amount of spending they could authorize would be unlimited.
Which is why in Article 1, Section 8 of the United States Constitution it reads that Congress was granted only the right ‘To coin Money, regulate the value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.’
“In the run-up to the American Civil War, the practice of fractional reserve banking—which permits a bank to lend out more money than it actually has available on deposit in cash—ran rampant within countless state-chartered banks. This created widespread instability throughout our young country. For lenders, a depression is a wonderful development. However, since war is a major cause of debt and dependency, wealthy European bankers were excited by the prospect of exploiting a civil war if they couldn’t have their centralized bank with a license to print money indiscriminately. As then-Chancellor Otto von Bismarck of Germany stated, ‘The division of the United States into federations of equal force was decided long before the Civil War by the high financial powers of Europe. These bankers were afraid that the US, if they remained as one block and as one nation, would attain economic and financial independence, which would upset their financial domination over the world.’”
Sound like conspiracy theory? Check out my resources page here. As a lifetime learner, I have spent many hours delving into history to discover the truth. The very best documentary I can recommend about the history of money is The Money Masters. It’s just over three hours but worth the time to watch and understand.
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