1.        That the nation bank and banking system is significantly regulated by the federal government of each nation.   A)  Our government (and others) won’t enforce regulations opposed by the financial sector because  through tightening credit (raising interest rates) the financial sector can and does crash economies.  With this club governments cower.  There has never been an audit of the Federal Reserve banking system, they are a power our government won’t challenge.  There is an even greater as measured by dollar shadow banking system which is beyond regulation.  See footnote #1 for details.       

2.       That our currency issued is by our government.  Only a small fraction consisting of coins and dollar bills are made by our government, the rest is created by credit issued by the banks.  It is a debt based world-wide system   That system of bank issued currency is called FRACTIONAL RESERVE CURRENCY/BANKING.  Currency is issued through credits given out by the banks.  Under law the banks must hold a percentage of assets for every dollar of credit they issue.  In the US for every 1 dollar of assets which consists, mainly of the T-bill, government bonds, and similar items of governments debt that the banks own, that bank will issue $10 of credit.  (Other nations have different reserve requirements.)  Example, you by a car and make a down payment of $1,000 on a $40,000 Cadillac.  The dealer goes to the bank and receives a check from the bank of $39,000, the amount you agreed to pay for the Cadillac.  (Interest on the loan paid by you is profit for the bank.)  The $39,000 is deposited into the dealership’s account and used to pay their sales person, General Motors, and expenses incurred in having the dealership (rent, taxes, employees, owner profit, etc.).  Those checks issued by the dealership are then deposited into the recipients’ banks.  The bank issuing the credit (loan) has just created $39,000 of currency.  Prior to that the Cadillac sat on the dealer lot, for which the dealer owed General Motors $33,000.   With the signing of the contract, $39,000 was created by the bank. 

3.        That this system of debt to the banks is essential for a viable economy.  The power to issue currency (fractional reserve banking) and thus collect interest on the loans is controlled by the banks.  We are told that when the government prints money without assets to back it up, that it will cause wild inflation, the more printed the more inflation.  We are told that issuing government currency will cause an economic crash like in Germany during the great depression and in Zambia in the 1980s.  Those events occurred for reasons much different conditions.  Our banks are issuing currency with at most 10% assets. 

4.        That a government ought NOT issue debt (interest free) currency.  Government issued currency is called fiat currency—fait means let it be done, from Latin).  The US issued debt free currency during the revolutionary war (continental currency), each of the 13 colonial states issued their own currency, and during the civil war the North (green back dollars); this could be done it again.  As Thomas Edison wrote: “If our nation can issue a dollar bond, it can issue a dollar bill.  The element that makes the bond good, makes the bill good, also.  The difference between the bond and the bill is the bond lets money brokers collect twice the amount of bond and an additional 20%, whereas the [fiat] currency pays nobody, but those who contribute directly in some useful way.  It is absurd to say that our country can issue $30 million in bonds but not $30 million in currency.  Both are promises to pay, but one promise fattens the usurers and the other helps people.”  Our government can have its own national bank, one whose charges cover only the expense of operations.  The Bank of North Dakota is a state government owned bank. 

5.        That the payment to the banking sector isn’t large.  Current payments by the US government is over $600 billion annually, over 25% of taxes collected on $23.7 trillion dollars owed to the financial sector and countries such as China which hold US notes.  Total US debt to the banks is $77 trillion, it includes personal, corporate, and all governments debts.  It is 3 times that owed by our government 4/3/2020.)   The interest is a great sucking sound making us all poorer, and the financial sector extremely rich and powerful.  There are no free lunches.  There is only one pie, and the financial sector is over 55% of our GDP (gross domestic product).  The GDP is based upon income of farmer’s income, investment income, corporate profits, and workers, their salaries, and supplement income such as bonuses.  The expansion of currency, most of which goes into what is term the shadow markets and shadow banking[1] drives the prices higher because demand is increasing.   

Jackson vetoed a bill to renew the 20-year charter of the Second National Bank of the U.S. 

6.        That there was little opposition to the setting up of a private national bank because the national bank is the best way to create economic stability.  The history before the rewrite was much different.  What follows is a summary of that history.  At  http://www.skeptically.org/pop/id2.html   is a collection of statements by Jefferson, Lincoln, Bismarck, and others made over 2 centuries; their opposition to a British-model banking system.  It is important to know the sentiment of the people and that of our founding father and later our elected officials because that history has been rewritten to downplay the significant opposition to the three national banks chartered in 1791, 1816, and in 1913.  The debate over these banks explains why the majority of Senators and Congressmen opposed setting them up on the European model.  It explains why they in 1791 and 1816 placed major restriction—except for the 3^rd National bank.  It was snuck through Congress when most of them were away prior to Xmas in 1913.  The pro-national banking members of Congress stayed there to form a majority, and why President Wilson who had pledged during the election of 1912 to support a 3^rd national bank (Federal Reserve), he signed the legislation.   Four years later Wilson said this was his greatest mistake in office. 

Starting with the Colonies the majority of citizens opposed having a banking system model on the English system.  The banks in England forced the Parliament to pass legislation that favored English banking.  That legislation required payment to England in the currency issued by the English banks.  This legislation prior to the Revolutionary War had caused a major depression of the colonial economy.  As Ben Franklin observed the depression was THE MAJOR CAUSE OF THE REVOLUTIONARY WAR.  The issue over tariffs has been in the rewrite of events taught as the number one major cause; it wasn’t.  The 13 Colonies wanted Parliamentary representation so that they could that attempt to prevent legislation from being passed through the British Parliament that would onerously affect the 13 colonies.

When the war was won and the representatives of each state met to form a national government.  Those founding fathers didn’t want to  duplicate the banking system used in England, France, Germany, Italy, and Austria.  The banks there, because they issued the currency, they were a power above the government.  As Napoleon summed it up, the hand that gives is above the hand that takes, or as Nathan Mayer Rothschild bluntly said in the 1780s, I don’t care who sits on the throne, as long as I control the currency.   

Through the banking family of the Rothschilds and their paid agent, the most important being Alexander Hamilton, John Adams, and Robert Morris and through their Federalist Party in 1791 proposed and passed legislation which established the First Bank of the United States.  There were significant compromises for it to pass, such as a 20-year contract with our new government.    Other restrictions were that the First National Bank of the United States was not to buy U.S. government bonds, and to limit its issuance of notes of credit to the total amount of its assets (forbidding fractional reserve creating of currency).  These last 2 restrictions were to prevent what occurred with the banks in Europe.  Our founding fathers, each a representative of the 13 Colonies, needed a national banking system, but not like the type in Europe. 

The banks organized with the Rothschild’s 5 banks in the just named countries forming a cartel that was through the circulation of stocks, bonds, and currency beyond the reach of governments in those countries.  They through credit controlled the governments.  No country would effectively limit their power or profits, because the cartel of banks would crash the economy of that country--remember this!  Our founding fathers knew this as too the politicians of today.  But now unlike up to the 1940s, they dare not expose through criticism the power of the financial sector.  These banks write the free trade agreements and are as in Europe creating a regional political organization (the European Union there) that will eventually replace national governments.  This is done not to create peace, but to maximize their profits and assets.  In the past in Europe the Nobility and the Church were the dominate power, now it is the financial institutions.  So back to the 18^th century.   

             Congress issued $241,552,780 in Continental currency during the revolution.  Why didn’t the new US government issue its own debt free (fiat) currency like it did in the Revolutionary War?  There are 3 major reasons.  The British government during the Revolutionary War counterfeited a very large amount of colonial script, which caused it to lose almost all of its value.  Thus, a new issuance of paper currency without the backing of major assets such as property and gold would not be successful because of the prior devaluation.  The people, lacking faith in the new government, they would continue to use the currency issued by the local banks and states (table below).  The founding fathers were sent to the Congress by the 13 colonies, and they their colonies didn’t want to withdraw its currency, nor did the local banks; they would have had issue gold to pay off the recall of their paper money.  Thus, Jefferson and Madison and many others favored continuance of the colonial banks and colonies (states now) issuing currency.  In summary, the new national government wanted to issue its own currency but because of the lack of faith after the first currency was issued and the opposition of the state governments which they were representatives of made, thus no national debt-free currency in 1791.  Moreover, if they did issue fiat currency, the now organized European banks and their governments would apply sanctions (a policy followed today by governments around the world to nations that don’t support globalization:  Cuba, North Korea, Iran, and until recently in Libya, Afghanistan, and Iraq). 

Though Wikipedia writes about the issue of constitutionality of a national bank as the major issue; the issue debated was to have a system like the banks in Europe.   In fact, the major cause for the Revolutionary War was the pressure put on the US colonial banks and the Colonies’ paper currency.  Parliament passed a law requiring payment in gold coins, which were issued by the European banks.  This legislation caused a depression. 

On a close vote the First Bank of United States received a 20-year contract, which was not renewed in 1811.  The War of 1812 (6/12 to 2/15)  was instigated by the Britain which was responding to the European bankers.  Needing a US currency after the war the US Congress voted in 1816 for a 2^nd national bank; it too had a 20-year contract.  

It was widely believed that the Bank symbolized corruption while threatening liberty.  However, given the problems with local banks in each state issuing currency, there was need for a national bank or the US government issuing fiat currency   Both vice President John C Calhoun and Henry Clay, former Senator and then Secretary of State under Madison’s favored a Second Bank of the United States.   The issuing of currency is a public service by the national bank, but its objective is to maximize profits  Thus their branch banks in the south and west through low interest rates caused speculation in land and other items, and this was followed by raising interest (tight currency policy) and foreclosures on those that couldn’t make the higher payments.   This caused a recession in 1819, just 3 years after their charter.  This type of profiteering by banks was repeatedly exposed. 

Opposition to the 2^nd National Bank grew, thus General Andrew Jackson responded by standing opposed the banks and other polices of John Quincy Adams who lost in a bid for reelection--electoral vote of 32 to 68. 

Jackson stood for reelection in 1832.  Biddle on advices candidate Clay and Senator Daniel Webster applied during election period for renewal 4 years early.  It passed congress in July 1832.  Jackson commented, “the bank is trying to kill me, but I will kill it” and so he vetoed on July 10^th.   The bank thus became the major election issue.  Jackson in his campaign repeatedly stated that the Bank made "the rich richer and the potent more powerful”, and accused (rightly) that the bank was funding Clay’s campaign—such business involvement was frowned upon by the laboring majority.  Jackson won with 54% of the vote and 219 electoral votes to Clay who received 37% of the votes and 49 Electoral College votes.  The people voted for ending the bank.  Jackson then proceeded to kill the bank before its charter expired in 1836.  In 1833 he removed US deposits from the bank and placing the funds with local banks.  Biddle responded by tightening currency and thus crashing the economy.  This response by Biddle rather than move Congress to action, resulted in increased anti-bank sentiment.  The money interest formed a national Whig Party for which 4 future presidents were affiliated with. The National Republican party then folded around 1838.    

In 1836 when the charter ended, the bank became a private corporation under Pennsylvania commonwealth law.  “The Bank suspended payment in 1839. After an investigation exposed massive fraud in its operations, the bank officially shut its doors on April 4, 1841”  https://en.wikipedia.org/wiki/Bank_War#The_election_of_1832   Biddle was defendant in a series of suits lasting until his death in 1844 while still being sued. 

The US Historians with a proletariat leaning consider Jackson a hero:  “In the 1930s Jackson biographer Marquis James commemorates Jackson's war against the Bank as the triumph of ordinary men against greedy and corrupt businessmen. Arthur M. Schlesinger Jr., who wrote The Age of Jackson (1945), adopts a similar theme, celebrating Jacksonian democracy and representing it as the triumph of Eastern workers. Schlesinger portrays Jackson's economic program as a progressive precursor to the New Deal under Franklin D. Roosevelt.  Robert V. Remini believes that the [Biddle] Bank had "too much power, which it was obviously using in politics. It had too much money which it was using to corrupt individuals. And so, Jackson felt he had to get rid of it.”  Wikipedia supra. 

The nation returned to deposit banking and an independent treasury was reestablished under the presidency of James Paulk in 1846, and continued until political finagling while most of the Congressmen were away for the Xmas holiday  in 1913; the pro-national bank congressmen slipped through a bill that established a third national bank, and Wilson as the bill into thereby fulfilling his promise for being given for support by the banking sector.  This bank was and is deceptively called the Federal Reserve Bank.

As James Madison wrote:  “History records that the money changers have used every from of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.”. What has happened in Europe has occurred here, and with neoliberalism globalization the IMF, WTO and other banking fronts they have taken the finances of every nation but a few to which they apply through the puppet governments economic sanctions, coupes, and wars.  (Among a long list is Afghanistan, Chile, Cuba, Indonesia, Nicaragua, Iraq, Libya, Venezuela, Vietnam, the free trade agreements, of which there are over 6 are just part of that march of increasing domination. It is the march of corporation in their duty to increase profits and thus markets.  They have replaced nations and their march for greater markets thus more territories.  We are on the slow march to a North American Union similar to the European Union, and eventually to a one-world government dominated by finance. 

Yes, we can and have issued money with having to pay interest to the banks and having them crash our economy to increase their profits (as they are doing today with the virus scare.)

7.        That our government can pay off the debt.  The banks issue money as credit, and our government pays over $600 billion dollars yearly from the taxes on its debt.[2]  This covers the interests on the T-bills, bonds and other financial instruments which our government sells almost exclusively to the banks (including foreign banks).  The banks also buy state and municipal bonds.  When those financial instruments become due, the governments than issue more instruments to raise the money owed on the matured instruments.  The governments could take tax money from the taxes to pay off some of the debt (this seldom occurs).  Each year our government expands the debt by selling more financial instruments to cover its  negative financing, and to replace the credit instrument as they mature.  This allows the credit given by the banks to expand at a ratio of $10 to $1 held.[3]  If our government in 10 years paid off 25%, $6 trillion of the debt, there would be withdrawn from the economy $60 trillion by the banks.  The paying off of debt would impact negatively not just government expenditures but also the bank loans for housing for the stock markets, etc.  This contraction would result in another great depression.  Our economy is kept afloat by every growing federal debt. 

8.        That we have a sound economy.  Blame every plausible cause but the financial sector, the power behind the curtain. We blame the government for lack of fiscal austerity, the greed of speculators, the excessive expansion of the market of housing in which unqualified people were accepted for housing mortgages often with no money down, the post war contraction of the economy, and now a virus no worse than the seasonal flu epidemic, and less contagious.  An economy is not sound when every 8 to 20 years it undergoes a major contraction that adversely affecting over 1/2th  of the population.  Two hundred years of depressions and recessions proves the case.  Instability is the norm. 

9.        that we need to inflate the currency:  Yes, we do, the expansion keeps pace with or exceed that of the growth of our population, otherwise there would be a tightening of credit per person as the population grew.  This is a complex question in that most of the expansion in credit for which most of it doesn’t end up in personal debt.  Most of it funds the various market such as stocks, future, derivatives, corporate mergers, foreign investments, and so on.  There are times when the consumer debt per person shrinks while some are all of the other outlets expand.  We have a terrible situation of finance charges gobbling up income of consumers, governments, and businesses, and by expanding their debt it permits the impact of the interest payments to have less negative effect.  Expansion of debt is not a fix, only a band aide that needs debt free currency as a fix.  

10.      That we need derivatives, futures, stocks and various other financial species.  We are told that they are a type of insurance against downturns.  Stocks are in some mysterious way supposed to increase a company’s efficiency—how can’t be cogently explained.  The reality is that they are part of what has been termed “casino economy” and the financialization of capitalism.  They are a way in which insiders make huge returns on position taken with as little as 7 cents on the dollar for futures and instruments used in the shadow banking system.  In 2006 the face value of those trade items was over $200 trillion counting futures and stock.  As of 2013, academic research has suggested that the true size of the shadow banking system may have been over $100 trillion in 2012.”   If wrong in their position, their account is debited the amount owed, assuming that there is enough in the account.  A number of financial institutions bought those species and defaulted on covering the loss in 2009. 

11.      That there aren’t bargain basement deals during a crash which the big boys gobble up.  They gobbling up their smaller competitors who are not bailed out by the government response to the decline.  An ugly example of what goes on.  Washington Mutual banks, which was the largest saving and loan association and 6^th largest bank was charge with being insolvent by our government and was given to J.P. Morgan Chase for $1.9 billion--a bargain deal for Morgan Chase.  Chase is the U.S. largest bank and the 6^th largest in the world. The $1/9 billion is even sweater deal in that our government picked up most of the unsecured debt and equity claims.  Quite a gift by our government.  On June 30, 2008 Washington Mutual was seized by our government on the basis of a 9% run on savings deposit that it held—9% is not a major run, and they could have stopped by a bank holiday, which is what FDR’s government did to stop the bank run in 1933.  And the details get uglier, the holding company, WaMu Inc. that owned Washington Mutual was very sound financially.  WaMu after being divested of its Washing Mutual still had left $33 billion in assets and only $8 billion in debt.  Even so they filled bankruptcy as part of the deception and a way for WaMu to raid their pension plans, which occurs when the court uses the pension plan to pay of the $8 billion in debt.  Welcome to  our government’s role in finance.  Yes, the big-boys profit from the bargain basement, and the whole process is sold to us Americans by the media as the government punishing the bad guys.   

12.      That the financialization of the economy is good for our nation.  Financialization means that of a shift in investments away for plant, product, research, marketing and other corporate activities expansion to that of funneling funds in the financial markets.  Driven to maximize profits, corporations find the return on the financial markets yields a higher return.  Far more funds have been put into the markets by the major corporation than into research, plant expansion, and other forms related to their products or services.  This serves the financial sector since they sell the stocks, futures, derivates, etc. and thus receive a commission.  As insiders the financial sectors takes position in those markets and then causes the fluctuations in those items that is very profitable.  Instead of manufacturing here, over 85% of items are imported.  One reason is that outsourcing frees up more funds to speculation in the markets.  The once manufacturing companies now our distribution companies:  they order the items from other countries with their label on product and package.  Without tariffs they must compete with competitors who are selling imported items.  This outsource is a result of the free-trade agreements.  The financial masters want free trade agreements because it opens up the nations for them to set up shop in countries around the world.  Government, and those around the world have signed free trade agreements such as MAFT, NAFT and others, and thus are required to removal of tariffs and much more.  This created a huge foreign debt in the US, with Chinese banks having the greatest holdings.  Finalization is a sign of a very upside-down economic system.   

13.      That the free-trade agreements benefit the working class by outsourcing low skill jobs and providing manufactured goods at lower prices.  That was how NAFT was sold to the public under the Clinton administration.  The reality is that workers have less buying power, less jobs, and we have lying figures from our government.  If the financial sector wants a change, it is not for our sake. 

14.      That Keynesian economics is a failure.  Yes, managed capitalism is a failure with the pro-banking wrecking crew running it.  Bad management is not an accident, but a way of selling us on deregulation.  Keynesian economics developed during and after the Great Depression from the ideas presented by Keynes in his 1936 book, The General Theory of Employment, Interest and Money. https://en.wikipedia.org/wiki/Keynesian_economics The two key items were that government should put the money into the people at the bottom, and these people will spend it and thereby create demand for manufacturing and services and this will get us out of the Great depression.  The is what FDR did during the depression, as too many other countries.   Slowly after the war the corporate community influenced the political parties to turn those regulate into a façade.  At the same time the corporate press was selling the populations that neoliberalism was better than regulated capitalism.  Neoliberalism was selected by the ruling class because it promoted their wealth, and it has in that the US the top 1% have over doubled the disparity in wealth compared to the bottom 25%. 

 15.     That Neoliberalism will bring prosperity:   Yes, to the financial sector, global corporations, and the top[ 1%, but they haven’t benefited the working class.  Sure, there is more trade because manufacture has shifted to the 3^rd world, but their wages haven’t increased, and in the developed countries the worker’s buy power has decreased.   Neoliberalism is the economic dressing for turning the wolves loose in every hen house.  It is the opposite of Keynesian economics.  With deregulation corporations can now raid pension plans, charge usury rates on credit card, fee us news that is propaganda supporting the ruling class, market drugs that are slow acting poison that promote illness, and on and on.  This is neoliberalism at work, but we won’t hear of it in corporate media.  Neoliberalism with its free trade agreements has permitted them to destroy the union movement and thus the only mass organized voice for the working class. To think that the Democratic Party is our voice is given their record part of the deception.  And we are conditioning by the media to love the system that is picking our pockets. For a critique of neoliberalism http://www.skeptically.org/glob/id4.html  

16.      That it is good that the corporations have a political voice:  There once was an effective liberal wing of the democratic part, and in the time of Teddy Roosevelt a liberal wing of the Republican party, now both parties support the master behind the curtain.  The contributions have shaped both parties, and those who are liberal must work within their party.  There is a chain of command, starting with the financial sector on a global scale.  The bucks in politics and the corporate media have created a political reality much different than what we had with FDR and before.  As Teddy Roosevelt observed  

17.       That economic crashes are not caused by the financial sector:  It was once widely believed that the panics and market crash and economic downturns were caused by the banks and brokerage house, and they were right.  While some financial institutions go bankrupt, the biggest players survive and profit from the downturns through bargain prices and the upturn through increased borrowing.  The best documented was the panic of 1837, caused by the banks when  he vetoed the renal of the contract. Nicholas Biddle.  “In hopes of extorting a rescue of the bank, Biddle induced a short-lived financial crisis.“  Being insider  the Feds and other major players know when major market moves has been planned.  They also being insiders will take long and short positions depending on which direction they are making the economy go.   (Short position is a way of betting on a decline, the greater the decline the greater the reward).  Ben Bernanke the chairman of the Federal Reserve made $5 billion shorting the market.  As Teddy Roosevelt wrote in a newspaper article 3 years after the Federal Reserved was establish: “We must drive the special interests out of politics. The citizens of the United States must effectively control the mighty commercial forces which they have themselves called into being.  There can be no effective control of corporations while their political activities remain.”   With going off the gold standard, the expansion of currency increased astronomically (see graphs below) and from that expansion followed the financialization of the economy as the financial sector developed and expanded the instruments for short-term, liquid investing.  

18.      That the economic crashes are NOT profitable for the financial sector:   they create the crashes for to make money by buying up properties at bargain-prices including the smaller banks and financial institutions, by having the governments expand their debts to the banks to have funds to stimulate the economy to get out of the recession.   The more government debt owned by the banks the greater its profits (see #6).   The banks also profit as insiders (since they as a group reduce credit to crass the economy) in that they taking a short position in stocks, futures, etc. (Short means that they are betting a price decline; long means increasing value bet.)   The current crash was created by the government regulations designed to prevent a condition very similar to the seasonal influenza epidemic.  The previous crash was created by a housing bubble that the banks financed.  Others crashes, in most cases, were created by raising the interest rates, tightening the economy.   This is what occurred when Andrew Jackson vetoed the renewal of the charter for the Second National Band

19.      That the currency has been inflated to create prosperity.  in real dollars the working class since the 1960s has experienced a decline.  In the 1950s a husband would be the only worker in a family and the greater majority of them lived comfortably.   Productivity of the workers has on an average gone up 74% from 1986 to 2020, yet purchasing value of money has gone down – how much is not known since our government has manipulated the contents of the product basket used to figure inflation.  This is the sucking power of lower taxes on the rich and corporations and the cost of interest on all forms of debt (governments, corporations, and personal).  It is all passed on to the working people, the consumers.  The ones who in an economically fair system would have an ever-increasing percentage of their increased productivity.   

20.      That the expansion of currency occurs to increases economic stability.  That was the sales pitch for the First, Second and Third National Banks. (Federal Reserve).   However, history with the frequent downturns of the economy has continue at the 8 to 12-year intervals, and the Great Depression occurred 16 years after the Federal Reserve was started.  The  fix created by increase debt not just of the federal government, local and state governments who also fail to obtain project tax income, but also consumers and business.  Increased debt increases the financial sectors profits.  In addition is the bargain prices purchase of financial companies such as Washington Mutual Banks, the federal government dole programs during the 2008 decline amounted to $4 trillion for the financial sector.    This isn’t stability. 

Example of interlocking directorates 

21.      That insider trading is rare (we all are on equally foot when buy financial instruments):  1It occurs when a public company’s stock or other securities is traded based upon non-public information.  The board of directors, many of the top executives, and the account department know what is planned and the news that will be released concerning their company.  To take advantage of this is the normal.  Both the insiders and often the large corporations take positions in the stock and futures markets.  The regulations are a joke, such as insiders having to report a change in the position (buying or selling stocks), which is then available to the public, who rarely rely upon this information.  Twenty years ago, I subscribed to a new letter which listed the required reports of board members as they bought and sold stocks on the companies that they are board members.  I found this information of little value.  That regulation doesn’t change things, has too little impact upon trading.  This is one of many examples of how the market is manipulated by insiders.  The easy for which information travels with the upper management and board members and the low risk of being prosecuted entails that those few cases are but the tip of the iceberg.  Yes, there are insiders through the interlocking board directorships & board members.  A member of the board of a major corporation is on an average of over 3 other boards.  Moreover, since insider trading is enforced about as much as the jay-walking law, such trading is the norm.  “Interlocking directorate refers to the practice of members of a corporate board of directors serving on the boards of multiple corporations. A person that sits on multiple boards is known as a multiple director”  Wikipedia 4/2020.  “Members of the US Congress are exempt from the laws that ban insider trading.”  Wikipedia 4/2020  Because of this perk of for our legislators, they don’t want to change the debt-based system.  They with safety of the law they are tipped by corporate and financial insiders of upcoming changes that will affect the cost of stocks, futures,  and market average instruments.   

22.      That the stock market is a level playing ground  Insider trading is but one of many ways in which insiders out-perform the market average.  For example, Warren Buffett goes to the corporation that he is considered investing in and meets with the top executives so as to judge their commitment to the company.  Often the executives use their position for their own personal gain, they do this as a group.  A few corporations try to run a tight ship, and those are the type of corporation Buffett invests in.  This is how he out performs the market.  to which Examples such as the stock brokers being advised on which stock to promote by the research department of the brokerage house,   

23.      That because of an increased in productivity brought on by computers and automation workers are making more.  Over the last 40 years productivity has increased by 2.17% per year, that is 87%, yet in turns of purchasing power there has been a drop for the average worker.  In the 1940s through the 60s when I was growing up, the norm was a stay at home mother, with the father making enough to support his family. 

24.      That all wealth comes from labor.  The financial sector does minimal labor in the form of useful services and reaps a return that from their control of  the currency.  Economic justice requires payment in proportion to the labor and the need for it measured by practical functions.  We have lost our way with a system that creates wants for items that deviate from their utility.  The capitalist system fails by this measure, an honest application of managed capitalism, Keynesian would eliminate would establish fiat currency, regulate health care to health before profits, would end the media usages to promote market and much more.  I have a simple plan on how to get around these and other problem through a check a balance system.  It is based on 5 changes at  http://www.skeptically.org/enlightenment/id13.html    

To learn more about banking with a focus on their history watch the Libertarian documentaries The Secret of Oz and the Money Masters.   It is accurate!!!  For my collection of documentaries on YouTube http://healthfully.org/rh/id9.html