The Power of Banking

The Power of Banks
The Power of Politics

“Whoever controls the volume of money in any country is absolute master of all industry and commerce.”
President James A. Garfield

 “If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered.”
President Thomas Jefferson

"Those who create and issue money and credit direct the policies of government and hold in the hollow of their hands the destiny of the people."
Rt. Hon. Reginald McKenna, former Chancellor of Exchequer, England

"Because of 'fractional' reserve system, banks as a whole, can expand our money supply several times by making loans and investments."
Federal Reserve Bank, New York

"Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back." 
Sir Josiah Stamp, former President, Bank of England

A “super-entity” of 147 tightly knit companies, mostly banks, controls 40 per cent of the total wealth in the world network. "In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network."
Andy Coghlan and Debora MacKenzie, New Scientist

Over the past 4 decades I have hammered away about the power of banks and the power of politics.  I first came to the conclusion during my political service that banks rule the world. That feeling has been reinforced over the years while being in the business of helping create community banks.  See The Power of Banks and the Power of Politics.
                                       The Honorable Ernest Garfield, Former Arizona State Senator, Arizona                                          State Treasurer and Arizona Corporation Commissioner

The economies of Western States suffer in large part because of the lack of community banks.  he FDIC Community Banking Study map dramatically demonstrates the differences across the nation of physical presence of community bank headquarters and branch locations.  Major banks drain the money from states in which they dominate.  Community banks by contrast reinvest their local deposits locally causing the money to multiply by 4 to 10 times.
See  This takes a moment to load, but the picture/map tells it all.

Community Banks by Region

North Central 24.6% 
Southeast 19.9% 
Midwest 19.7% 
Southwest 16.1% 
Northeast 10.6% 
West 9.0% 

There were 5,141 commercial banks in the U.S. at the end of the third quarter of 2016.

                                                 Fewer Charters, Higher Values
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