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Understanding Money June 6, 2011

Posted by The Prodigal Son in Uncategorized.
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An understanding of the true nature of money is essential for those seeking economic reforms toward the creation of sustainable societies. People today have more erroneous ideas about money than Victorians had about sex, so please read the following with care.

Let’s begin with the distinction between “legal tender” money which only the government or its agency, the Bank of Canada in the case of Canada, can create, and the “money” created by private banks-and increasingly by “near banks”. If you happen to have a Bank of Canada note, on it you will read the words “This note is legal tender.”

These notes, and checks drawn on the Bank of Canada, are the only legal money in Canada. What that means is that if you owe someone $20 and you give him a $20 bill he is paid and if he refuses payment in this form you are absolved of the debt. By contrast, he does not have to accept your check drawn on a private bank, or even a certified check of a private bank. Money issued by the Bank of Canada is sometimes called “Right of Purchase” money to distinguish it from “Promise to Pay” money created by private banks.

While private banks are in effect creating money out of nothing, they are (ostensibly) providing a (seemingly) important service as their “promise to pay money” is for many purposes safer and more convenient to use and store than actual cash. Furthermore, it costs the banks billions of dollars to maintain the payments system that clears your check back to your account and to keep the necessary records. All those nice, or not so nice, people who work in those banks, deciding who gets a loan and what happens if they can’t pay have to be paid their salaries. Banks also have to pay phone bills, electricity, heat and so on. What they create is intangible, but at the same time very real. Essentially, the bank is substituting its promise to pay-which is accepted as money-for your promise to pay, which is not.

Today only about 4 percent of the money in circulation in Canada is Bank of Canada legal tender. In other words, 96 percent of our money is created by private banks (the Royal Bank and the Bank of Montreal are the most prevalent in this area). In 1945 the Bank of Canada accounted for 27 percent of our money. At that time the bank rate of interest was only 1.5 percent and the Canadian economy boomed.

Some 96 percent of the “money” we are now using is not Bank of Canada “legal tender,” but rather the promise of private banks to pay the bearer Bank of Canada legal tender on demand. 

This promise is what a private bank provides for you when you take out a loan with the promise to repay it with interest. The bank knows that mostly you don’t want legal tender. What you want is a checking account or a bank issued check for the amount borrowed so that you can send the bank’s promise-to-pay to folks you owe money to-folks who also don’t want legal tender, but do want to deposit your check in their own bank account.

The money supply of Canada increases at the moment a bank issues you a loan. As you repay your loan the money supply shrinks. So money is being created and destroyed every day.

Banking came into existence as a fraud. The fraud was legalized and we’ve been living with the consequences, both good and bad, ever since. Even so it is also a great invention-right up there with fire, the wheel, and the steam engine.

In the 16th century as the gold and silver the Spanish had stolen from the American Indians poured into Europe, coins grew larger, more plentiful and heavy. Merchants needed a safe place to keep them when they weren’t needed. The goldsmiths had large safes and fierce dogs and it became customary to leave coins on “safe deposit” with them. Next people saw that a “gold certificate” or warehouse receipt signed by the goldsmith was more convenient to circulate than those heavy coins made of soft metals that quickly wore out if they passed hand to hand. So the smiths printed up receipts in convenient denominations promising payment in gold to whomever presented the receipt. Some people took to writing notes to the smith ordering him to transfer the ownership of some of their coins to someone else. Thus the personal check was born.

Then one day one of the smiths had a brilliant, and wholly dishonest, idea. He noticed that people so much preferred his paper money to its “gold backing” that the gold in his vault hardly circulated-some of it hadn’t moved in years. So he thought, “I could print up some extra gold certificates and lend them out to gain the interest.” The idea was irresistible, and thus banking was born!

Just 300 years ago, in 1694, William Patterson talked King William III into chartering a private bank with the official sounding title of “The Bank of England.” The King had another war to fight with France’s King Louis XIV and not much money to pay for it. Being a Dutchman, he was unpopular with the British Parliament and it balked at voting the needed taxes. The royal credit was zilch because of his predecessors’ extravagance. What to do?

He jumped at Patterson’s promise to lend him lots of “Bank of England Notes”-which had little or no gold “backing”-at a reasonable sounding 3 percent interest. Thus national debt was born.

King William seems never to have asked His Royal Self the obvious question, “Why the hell should I pay William Patterson interest to print money for me? Why don’t I get a printing press and print some money myself?” Nor did he notice that his humble subjects in the Massachusetts Bay Colony, in what would one day become the United States, had already come to just this solution to solve a similar problem.

In 1690, the Massachusetts Bay Colony decided to do its bit in King William’s War by invading Canada (New France). The soldiers were told, “We can’t pay you, but the French have lots of silver. So beat them out of it and we will pay you with the spoils.” But the French won and the soldiers came back to Boston sore, mean and unpaid.

Necessity being the mother of invention, some bright Yankees (see HERE) thought of printing up government “promissory notes,” declaring them “legal tender” and using them to pay the soldiers. That worked so well that the other colonies copied the idea. From that day until the American Revolution (1775-1782) there were no banks in the 13 British North American colonies.

By the time of the Revolution, Pennsylvania was the richest place on earth. Benjamin Franklin liked to boast that part of the credit was due to the government money he had printed. As he pointed out, the government could spend the money into circulation for a new bridge or school, then tax the cost back over the useful life of the project. It could also lend the money to businessmen at 5 percent interest instead of the 10 percent the British banks charged. Or it could transfer the money into circulation to take care of widows, orphans and other unfortunates. Pennsylvania made so much money out of creating money-and selling off lands stolen from the Indians-that it hardly had to levy any taxes.

When word of this reached Great Britain, the Bank of England decided to destroy the competition of the colonial money. It got Parliament to forbid the colonies to produce any more of the stuff and the fat was on the fire. The Continental Congress met and defied Parliament and the King by issuing its own currency-the Continental. As Franklin saw it, the attempt of Britain to restrict the colonies from issuing paper money was one of the main causes of the Revolution.

The inability of the Colonists to get power to issue their own money permanently out of the hands of George III and the international bankers was the prime reason for the revolutionary war.”

– Benjamin Franklin

The Continentals paid for most of the cost of the revolution. Since they had to be over-issued, prices rose greatly. Much of the inflation, however, was caused by massive British counterfeiting of the Continentals. “You revolting Yankees like paper money? Here! Have lots of it!” So Americans still have a saying. “Not worth a Continental.” After the war banking came to America.

Some historians have much criticized this method of financing the American Revolution and held up British practice as a model of “sound finance.” However, as William Hixson shows in his book, Triumph of the Bankers, those historians have it backwards. According to Hixson, the total cost of the war to the Americans was about $250 million and much of this was financed by the “Continentals” and other paper monies. An additional war debt of $56.7 million accumulated some $70 million in interest before it was all paid off in 1836.

The direct war costs to the British government came to about $500 million. However, the British financed their side of the war almost entirely with borrowed money.

Since they have never since reduced their national debt below $500 million, they still owe this money! Assuming a modest average interest rate of 4 percent, the British taxpayer has by this time paid the British bondholder over $4 billion in interest on the initial $500 million loan-and is still paying!

Sound finance?

What a pity that King William did not have a Benjamin Franklin to advise him! What a pity that the wisdom of Franklin was lost and Alexander Hamilton was able subsequently to charter the Bank of The United States modeled directly on the Bank of England! What a pity that many historians, like many non-historians, so badly misunderstand money and banking!

The financial system the world has evolved on the Bank of England model is not sustainable. It creates nearly all money as debt. Such money only exists as long as someone is willing and able to pay interest on it. It disappears, wholly or partially, in recurring financial crises. Such a system requires that new debt must be created faster than principal and interest payments fall due on old debt.

A sustainable financial system would enable the real economy to be maintained decade after decade and century after century at its full employment potential without recurring inflation and recession. By this standard, a financial system that creates money only through the creation of debt is inherently unsustainable.

When a bank makes a loan, the principal amount of the loan is added to the borrower’s bank balance. The borrower, however, has promised to repay the loan plus interest even though the loan has created only the amount of money required to repay the principal-but not the amount of the interest. Therefore unless indebtedness continually grows it is impossible for all loans to be repaid as they come due. Furthermore, during the life of a loan some of the money will be saved and re-lent by individual bond purchasers, by savings banks, insurance companies etc. These loans do not create new money, but they do create debt. While we use only one mechanism-bank loans-to create money, we use several mechanisms to create debt, thus making it inevitable that debt will grow faster than the money with which to pay it. Recurring cycles of inflation, recession, and depression are a nearly inevitable consequence.

If, in the attempt to arrest the price inflation resulting from an excessive rate of debt formation, the monetary authorities raise the rate of interest, the result is likely to be a financial panic. This in turn may result in a sharp cutback in borrowing. Monetary authorities respond to bail out the system by increasing bank reserves. Governments may also respond by increasing the public debt-risking both inflation and growing government deficits.

Governments got into this mess by violating four common sense rules regarding their fiscal and monetary policies. These rules are:

1. No sovereign government should ever, under any circumstances, give over democratic control of its money supply to bankers.

2. No sovereign government should ever, under any circumstances, borrow any money from any private bank.

3. No national, provincial, or local government should borrow foreign money to increase purchases abroad when there is excessive domestic unemployment.

4. Governments, like businesses, should distinguish between “capital” and “current” expenditures, and when it is prudent to do so, finance capital improvements with money the government has created for itself.

A few words about the first three of these rules, as the fourth rule has been discussed extensively elsewhere.

1. There is persistent pressure from central bankers and academic economists to free central banks from the obligation to consider the effects of their actions upon employment and output levels so that they can concentrate on price stability. This is a very bad idea indeed. Dominated by bankers and economists, central banks are entirely too prone to give exclusive attention to creditor interests to the exclusion of worker interests. Amending central bank charters to give them independence from democratic oversight, or to set up “price stability” as their only goal would complete their subjection to banker interests.

Canada’s own William Lyon Mackenzie King (Prime Minister responsible for nationalizing the Bank of Canada) said it all:

 Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of sovereignty of Parliament and democracy is futile…

Once a nation parts with control of its credit – it matters not who makes the nation’s laws…

Usury, once in control will wreck any nation.”

2. Anyone who understands that banks create the money they lend can see that it makes no sense for a sovereign government, which can create money at near zero cost, to borrow money at high cost from a private bank. The fact that most governments do borrow from private banks is one of the greatest errors of our times. If a government needs money created to pay for public spending it should create the money itself through its own bank; or spend the money debt and interest free as the United States did during the Revolution and again during the Civil War.

If a government does not wish to “monetize” its deficits during periods of unusual need such as wartime, it should either make up the deficit with higher taxes or borrow only from the non-bank public-which cannot create the money it lends to the government.

3. One of the most mistaken ideas, with which Canadians especially are cursed, is the idea that a country should maintain its interest rates higher than those of its main trading partners “to attract foreign investment.” To begin with, high interest rates inhibit real investment spending on new buildings, machinery and equipment by diverting funds to finance government deficits. Furthermore, the foreign funds attracted to Canada by high interest rates cannot be spent on Canadian employees and products.

They are only useful for importing foreign goods and making payments on foreign debts. Moreover, these funds bid up the value of the Canadian dollar in foreign exchange markets, giving foreign goods a domestic price advantage over similar goods produced in Canada, while making it harder for Canada to export. Thus the inflow of foreign funds actually contributes to a “current account deficit” and depresses the Canadian economy. Those who argue that Canada must borrow on “capital account” because she has a “current account deficit” have cause and effect totally reversed. Canada has a current account deficit because she is borrowing on capital account. What she needs to do is to stop borrowing, lower interest rates until she stops attracting foreign funds, and let the Canadian dollar find its own level in the foreign currency markets.

When the Bank of Canada encourages the Canadian government, provinces, and municipalities to borrow in New York and Tokyo it is a betrayal of Canada. Where should they borrow when new money is needed for government spending?

They should borrow at the government owned Bank of Canada, paying near zero interest rates-just sufficient to cover the Bank’s running expenses.

Written by John H. Hotson

(John H. Hotson was professor emeritus of economics University of Waterloo and executive director of the Committee on Monetary and Economic Reform (COMER), a Canadian based network of economists working for economic and monetary reform.

This article is based on a series he published in the October 1994, November 1994, and January 1995 issues of Economic Reform, the COMER newsletter, Comer Publications, 3284 Yonge St., Suite 500, Toronto, Ontario, M4N 3M7, fax (416) 486-4674.

He gave the PCDForum permission to use this material only five days before his untimely death on January 21, 1996 following heart surgery. People-Centered Development Forum papers may be reprinted, and distributed freely with appropriate credits without prior permission.

Taken from:BankingCanada.ca )

~~~ ~ † ~ ~~~

“I am afraid that the ordinary citizen will not like to be told that banks can and do create money.

… And they who control the credit of the Nation direct the policy of Governments and hold in the hollow of their hands the destiny of the people”

– Reginald Mckenna, (Former Chairman of the Midlands Bank of England)

Also see: Germany’s Freedom from International Debt-Slavery

~~~ ~ † ~ ~~~




1. The Prodigal Son - June 6, 2011

Background for the above article:

Canada’s debt is over $565 BILLION DOLLARS, of which 95% is compound interest owed to private banks.

Canadian History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments (and by extension all of us) by controlling the money and its issuance (creation).

To understand more about this article please read: Money Created the Old-Fashioned Way – by the Government, Rather Than the Banks

Mayer Amschel Rothschild quote:

“Give me control of a nation’s money and I care not who makes the laws.”

Please note: In his book “New World Order Corruption in Canada” (published in 1994) Professor Robert O’Driscoll provides an article on what exactly Usury is and its history. This brief quote below is an excellent background on what banking systems around the world are all about.

Usury is the creation of money out of nothing. Money educes a sense of false stability in a world in which everything is in a state of flux. Usury perverts nature by ignoring the purpose of nature, creating ex nihilo – instead of by the rhythms of nature and cyclical ritual – consumer societies, debased dollars and coinage with no real goods behind them. In modern times man experiences alienation under capitalism and sees ‘his productions, his food, his love objects, all equally reduced to commodities.”

Also see the book
The Illegal Money Trail

2. Akira - June 6, 2011

Re “In 1690, the Massachusetts Bay Colony decided to do its bit in King William’s War by invading Canada. The soldiers were told, “We can’t pay you, but the French have lots of silver. So beat them out of it and we will pay you with the spoils.” But the French won and the soldiers came back to Boston sore, mean and unpaid. Necessity being the mother of invention, a bright Yankee named Benjamin Franklin thought of printing up government “promissory notes”.

He must have been very precocious, since he was born in 1706.

In fact he didn’t issue any of his Masonic continentals until the 1770s.

Back to the drawing board…

Benjamin Franklin - Continental

3. Akira - June 6, 2011

If hard times to come to Canada, I can’t imagine most people managing in the winters.

The Prodigal Son - June 6, 2011

Yes, Mr. Hotson got a little mixed up with his history there eh?

I just skimmed right over that part… I never even noticed!

Now I have to try to figure out what he had really meant to say there. Any idea?

4. Understanding Money | Loan - June 6, 2011

[…] Go here to read the rest: Understanding Money […]

5. 正教会の智 - June 7, 2011


In 1690, the Massachusetts Bay Colony decided to do its bit in King William’s War by invading Canada. The soldiers were told, “We can’t pay you, but the French have lots of silver. So beat them out of it and we will pay you with the spoils.” But the French won and the soldiers came back to Boston sore, mean and unpaid. Necessity being the mother of invention, some bright Yankee thought of printing up government “promissory notes”, declaring them “legal tender” and using them to pay the soldiers.

That worked so well that the other colonies copied the idea. From that day until the American Revolution (1775-1782) there were no banks in the 13 British North American colonies.

By the time of the Revolution, Pennsylvania was the richest place on earth.

Benjamin Franklin Franklin liked to boast that part of the credit was due to the government money he printed. As he pointed out…


6. 正教会の智 - June 7, 2011

“by invading Canada”


by invading Nouvelle-France (New France; 1534-1763)

+ + +

In 1689, the English and Iroquois launched a major assault on New France, after many years of small skirmishes throughout the English and French territories. This war, known as King William’s War, ended in 1697, but a second war (Queen Anne’s War) broke out in 1702. Quebec and Acadia survived the English invasions of both these wars, and during the wars France seized many of the English Hudson’s Bay Company fur trading centres on Hudson Bay including York Factory , which the French renamed Fort Bourbon.

The final Conquest of Acadia happened in 1710. In 1713, peace came to New France with the Treaty of Utrecht. Although the treaty turned Hudson Bay, Newfoundland and part of Acadia (peninsular Nova Scotia) over to Great Britain, France remained in control of Île Royale (Cape Breton Island), as well as Île Saint-Jean (Prince Edward Island) and the northern part of Acadia, what is today New Brunswick.

+ + +

Re King William’s War (1689–97):


7. The Prodigal Son - June 7, 2011

Right on.

Seems someone took it upon themselves to do a little editing (for clarification of course) to ‘improve’ on Mr. Hotson’s work by interpolating Franklin’s name in a paragraph where it didn’t belong.

Funny part is, trying to figure it out I saw this elsewhere with the same error. Good job someone’s paying attention!



The Prodigal Son - June 7, 2011

If hard times to come to Canada, I can’t imagine most people managing in the winters.”

Yes, I think it will be very, very bad if (when) it comes to us.

From Russia to Germany to North America now… Hard times (for the Goyim) seem to follow the Talmudists around.

I wonder what it’s like in Russia? Do you think they’d have me?

8. 正教会の智 - June 7, 2011


Start learning Russian.

They do want immigrants, and not from Pakistan and Somalia…

I don’t think life there is easy, but in Canada it’s too easy.

But as I say, if hard times come to Canada, and there’s any sort of energy problems or infrastructure breakdown, all these “fairweather” immigrants (and many native-born Canadians) will be panicking at the thought of a Canadian winter the way they used to live back in the 19th century.

I keep hearing that Canada’s so unpopulated, but they seem to forget that it takes a lot of energy and effort to keep up a lifestyle of heat in winter, air-con in summer, and just about everybody having a car (or two) and a TV in every room; as many Canadians live, and many people arrive expect to have someday.

The Prodigal Son - June 7, 2011

Start learning Russian.

Already got the Rosetta Stone going on! It’s tough!

I saw a show once called Departures… two Canadian lads went there. All of the young people in Russia seem to have lots of cash.

I know they’ve surpassed Saudi Arabia in oil production… and I used to work in exploration out of Calgary so I’m seriously considering it.

Just to be able to visit the Churches and attend their divine liturgies now would be unbelievable.

9. The Prodigal Son - June 7, 2011

The machine can make it for us.”

You can grow every kind of fruit and vegetable you want… that’s how they do it.

They have fruit trees and vegetable trees… that’s where fruit and vegetables come from.

You freeze the fruit and vegetables – it’ll last forever.”

I think I’m in love!

10. 正教会の智 - June 10, 2011

“We need the food because it’s food and stuff.”

11. The Prodigal Son - June 21, 2011

12. The Prodigal Son - June 21, 2011

13. The Prodigal Son - July 11, 2011

14. The Prodigal Son - July 26, 2011

The Federal Reserve ADMITS that Its 12 Banks Are PRIVATE – Not Government – Entities

Much of the tens of trillions in bailout money and “easy” money from quantitative easing went to foreign banks (and see this, this and this).

Indeed, Ron Paul noted recently that one-third of all fed bailout loans – and essentially 100% of loans from the New York Fed – went to foreign banks.

The New York Fed is the most important Fed bank. As Bloomberg pointed out in 2009:

The New York Fed is one of 12 regional Federal Reserve banks and the one charged with monitoring capital markets. It is also managing $1.7 trillion [now up to at least $1.9 trillion] of emergency lending programs [and accepting collateral from the banks in return].

However, the country’s most powerful “agency” – the Federal Reserve – is actually no more federal than Federal Express. The Fed itself admitted (via Bloomberg):

While the Fed’s Washington-based Board of Governors is a federal agency subject to the Freedom of Information Act and other government rules, the New York Fed and other regional banks maintain they are separate institutions, owned by their member banks, and not subject to federal restrictions.

For that reason, the New York Fed alleged in the lawsuit brought by Bloomberg to force the Fed to reveal some information about its loans – Bloomberg LP v. Board of Governors of the Federal Reserve System, 08-CV-9595, U.S. District Court, Southern District of New York (Manhattan) – that it was not subject to Federal Freedom of Information Act. As Bloomberg reported in a separate article:

The Federal Reserve Bank of New York … runs most of the lending programs. Most documents relevant to [a freedom of information lawsuit filed by Bloomberg news] are at the New York Fed, which isn’t subject to FOIA law, according to the central bank. The Board of Governors has 231 pages of documents, to which it is denying access under an exemption for trade secrets.

As the long-time Chairman of the House Banking and Currency Committee (Charles McFadden) said on June 10, 1932:

Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies ….

Similarly, the Bank for International Settlements (BIS) – often called the “central banks’ central bank”, as it coordinates transactions between central banks, and which is the entity determining the level of reserves banks are required to keep worldwide – is itself owned by the central banks of the world.

As Spiegel reported in 2009:

The BIS is a closed organization owned by the 55 central banks. The heads of these central banks travel to the Basel headquarters once every two months, and the General Meeting, the BIS’s supreme executive body, takes place once a year.

In, other words, the private banks own the Fed (and mos other central banks), and the central banks – in turn – own BIS, the global bank regulator.

Interestingly, Spiegel points out that BIS is largely immune from regulation, oversight or taxes:

Formally registered as a stock corporation, it is recognized as an international organization and, therefore, is not subject to any jurisdiction other than international law.

It does not need to pay tax, and its members and employees enjoy extensive immunity. No other institution regulates the BIS, despite the fact that it manages about 4 percent of the world’s total currency reserves, or €217 trillion ($304 trillion), as well as 120 tons of gold…

Central bankers are not elected by the people but are appointed by their governments. Nevertheless, they wield power that exceeds that of many political leaders. Their decisions affect entire economies, and a single word from their lips is capable of moving financial markets. They set interest rates, thereby determining the cost of borrowing and the speed of global financial currents.

From Washington’s Blog

15. The Prodigal Son - August 5, 2011

16. RedTez - August 6, 2011

Money is the root of all evil lol

Christ turned over the market stalls as He entered His Fathers temple – ooh i wonder what is coming next??

Best Regards

The Prodigal Son - August 6, 2011

Money is not the root of all evil. Money is a useful and necessary thing. Or it would be if our governments printed and circulated it the way they were designed to; the way they are mandated to…

It is the love of money which is a root of evil. It is this love of money (as opposed to love for God and love for one’s fellow man) that leads men into the schemes which now tear our great nations to shreds; leads them to steal from us that which we labor for. Our governments are borrowing money and making us pay it back.

It’s GREED… It’s the worship of Mammon; putting money and the pursuit of it above everything else. You will have one master.

    ‘For the love of money is the root of all evils; it is through this craving that some have wandered away from the faith and pierced their hearts with many pangs.’
    – I Timothy 6:10

You say:

Christ turned over the market stalls…”

Actually He took the time to fashion a scourge and He whipped the greedy, thieving scoundrels right out of there on at least one occasion.

    ‘Jesus went up to Jerusalem. In the temple He found those who were selling oxen and sheep and pigeons, and the money-changers at their business. And making a whip of cords, He drove them all, with the sheep and oxen, out of the temple; and He poured out the coins of the money-changers and overturned their tables.
    And He told those who sold the doves, “Take these things away; you shall not make my Father’s house a house of trade.”‘
    – John 2
    ‘So they came to Jerusalem. Then Jesus went into the temple and began to drive out those who bought and sold in the temple, and overturned the tables of the money changers and the seats of those who sold doves. And He would not allow anyone to carry wares through the temple.
    Then He taught, saying to them, “Is it not written, ‘My house shall be called a house of prayer for all nations’? But you have made it a ‘den of thieves.’ ” And the scribes and chief priests heard it and sought how they might destroy Him; for they feared Him, because all the people were astonished at His teaching.’
    – Mark 11
    ‘Then He went into the temple and began to drive out those who bought and sold in it, saying to them, “It is written, ‘My house is a house of prayer,’ but you have made it a ‘den of thieves.’ ” And He was teaching daily in the temple. But the chief priests, the scribes, and the leaders of the people sought to destroy Him, and were unable to do anything; for all the people were very attentive to hear Him.’
    – Luke 19

‘ “This is Jesus, the prophet from Nazareth of Galilee.”

    Then Jesus went into the temple of God and drove out all those who bought and sold in the temple, and overturned the tables of the money changers and the seats of those who sold doves. And He said to them, “It is written, ‘My house shall be called a house of prayer,’ but you have made it a ‘den of thieves.’ “
    ‘Then the blind and the lame came to Him in the temple, and He healed them. But when the chief priests and scribes saw the wonderful things that He did, and the children crying out in the temple and saying, “Hosanna to the Son of David!” they were indignant and said to Him, “Do You hear what these are saying?”
    And Jesus said to them, “Yes. Have you never read, ‘Out of the mouth of babes and nursing infants You have perfected praise’?” ‘
    – Matthew 21

Christ whips the moneychangers form the Temple

Ooh i wonder what is coming next??”

    ‘The Lord said to my Lord, “Sit at My right hand, Till I make Your enemies Your footstool.” ‘
    – Acts 2
    ‘Indeed I will make those of the synagogue of Satan, who say they are Jews and are not, but lie–indeed I will make them come and worship before your feet, and to know that I have loved you.’
    – Revelation 3
17. The Prodigal Son - August 7, 2011

Former ‘Federal Reserve’ chairman Alan Greenspan says:

“The United States can pay any debt it has because we can always print money…”

Must be nice.

18. The Prodigal Son - December 12, 2011

19. The Prodigal Son - April 9, 2012

12 yr old girl spells it out, nice & simple for everyone:

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