Trump Meets With Former Banker Who Wants to End the Fed

Donald Trump met with former banker John Allison (shown) on Monday in a meeting that was largely ignored by the mainstream media. It remains unclear whether Allison was being interviewed for the job of secretary of the Treasury or was just giving Trump some advice from a free market perspective.

Either way, it’s a breath of fresh air in an era where statism and excessive hubris (the idea that mere politicians and economists can guide, even stimulate a $20-trillion-dollar economy with monetary policy) has reigned for decades.

Right after graduating Phi Beta Kappa from the University of North Carolina in 1971, Allison joined Branch Banking and Trust Corporation (BB&T). By 1989 he was the CEO and had turned a small rural North Carolina bank with $4.5 billion in assets into a behemoth with current assets approaching a quarter of a trillion dollars. After retiring, he took over the presidency of the Cato Institute, leaving that position in 2015 but remaining on its board of directors.

In his formative years Allison discovered free market author Ayn Rand through her bestseller Atlas Shrugged, which has continued to have an impact on him ever since. He gave a copy of the book to every senior executive at the bank and always urged new employees to read it as part of their initial training. His charitable foundation gives grants to local colleges to explore how the free market works. Allison calls Rand’s book “the best defense of capitalism ever written.”

He opposed the Supreme Court’s decision in the controversial eminent domain case Kelo v. New London, explaining: “The idea that a citizen’s property can be taken by the government solely for private use is extremely misguided. In fact, it’s just plain wrong. One of the most basic rights of every citizen is to keep what [he] owns.” And then, in a quote that made him famous (or infamous, depending on the audience), Allison declared of his bank:

In other words, his bank wouldn’t help finance any entity seeking to build a project on land seized by eminent domain.

Allison is a vocal critic of Dodd-Frank, the massive law that was enacted in response to the Great Recession. He has called for its repeal, especially the noxious unaccountable Consumer Financial Protection Bureau.

Allison saves most of his ire for the Federal Reserve. In an interview with Dan Indiviglio on the Atlantic Business Channel last year, he stated:

In 2012 he told reporters at the Pittsburgh Tribune-Review that if he were in charge, he would end the Fed:

Though Donald Trump has not called for ending the Fed, he has called for auditing the Fed and has criticized it. On February 22 he tweeted, “It is so important to audit the Federal Reserve.” And he warned on September 26 in his first presidential debate with Hillary Clinton, “We are in a big, fat, ugly bubble.... And we have a Fed that's doing political things.... The Fed is being more political than Secretary Clinton.” One of Trump’s campaign strategists and advisors, Roger Stone, stated of Trump: “He’s not a big fan of the Fed. He is scaring the central bankers; he is scaring the Washington/Wall Street/D.C. consultant/lobbyist class. He’s deeply suspicious of the Fed and I think he is open-minded about the Fed. I’d suspect [that if Trump wins in November] you’d get an audit of the Fed.”

In a column published this week, former presidential candidate Ron Paul urged the president-elect not only to audit the Fed as promised, but to end it: “Those of us who understand that changing monetary policy is the key to making America great again must redouble our efforts to convince Congress and the new president to audit, and then end, the Federal Reserve.”

Whether Allison is interviewing for the position of Treasury secretary or just giving advice to Trump on monetary policy, the fact that he is speaking to the president-elect about it from a free market perspective is most encouraging. It’s a breath of fresh air blowing through the fetid swamp of Washington, D.C.’s statism and excessive hubris.

Who knows what’s true but there are certainly some interesting views on opposing the wrong banking people ....

People Who Opposed the Central Banking Scheme

The Signers of the Constitution
The Revolution was fought for Independence from England’s Central Banking System, as well as for Freedom from English Taxation. Many of the Signers lost everything, and some, their lives, in this English War of Conquest.

Those who fought and died in the War of 1812
Another English War of Conquest-
The Bank of England financed this renewed attempt to get control of our Commerce, Trade, and Money Systems.

BEN FRANKLIN - THE TWO BANKING SYSTEMS From the autobiography of Ben Franklin, as reported by Gertrude Coogan in “Money Creators”: ...the inability of the colonists to get the 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.
Ben Franklin answering a question about the booming economy of the young colonies: “That is simple. In the colonies we issue our own money. It is called Colonial Scrip. We issue it in proper proportions to the demands of trade and industry.” (Colonial Scrip had no debt or interest attached.

See Essay on Colonial Scrip.

Alexander Hamilton-(1755-1804)
Founded the first central bank in the United States.
International bankers saw that interest-free scrip would keep America free of their influence, so by 1781 banker-backed Alexander Hamilton succeeded in starting the Bank of America. After a few years of “bank money”, the prosperity of “Colonial Scrip” was gone. Benjamin Franklin said, “Conditions were so reversed that the era of prosperity had ended and a depression set in to such an extent that the streets of the Colonies were filled with the unemployed!” Bank money was like our FED money. It had debt and interest attached.
By 1790 Hamilton and his bankers had created a privately owned central bank and converted the public debt (interest-free) into interest bearing bonds, payable to the bankers. When Hamilton’s bank charter expired in 1811, the international bankers started the war of 1812. By 1816, another privately-owned U.S. bank was started with $35 million in assets - only $7 million of that was owned by the government. This bank lasted for 20 years. U.S. history shows that currency with debt and interest attached created a depression.
{Alexander Hamilton was killed in a duel, in 1804 by Aaron Burr, a British Sympathizer.}

Napoleon Bonaparte-(1769-1821) Emperor of France(1804-1815)
Had a free hand in Europe as long as he borrowed from the Bank of Rothschilds. When he quit borrowing he was attacked by the English. Napoleon, a sympathizer for the international bankers, turned against them in the last years of his rule. He said: “When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes... Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.”

Andrew Jackson, 7th U.S. President, 1829-1824
When the 1816 charter expired in 1836, Andrew Jackson vetoed its renewal. See Jackson’s Veto Message to Congress It was then that he made two famous statements: “The Bank is trying to kill me - but I will kill it!” Later he said “If the American people only understood the rank injustice of our money and banking system - there would be a revolution before morning...”

Abraham Lincoln-(1809-1865) the 16th President of the U.S.-Assassinated while in Office.
In his First Inaugural Address, Lincoln made a point to discuss the role of Capital and Labor. Significant national issues were, at that time, in the first official speech, immediately after a Presidential Election.
Lincoln spoke on finances and government: “In his First Annual Message to Congress, December 3, 1861, Abraham Lincoln stated: “Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed, if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration. Capital has its rights, which are as worthy of protection as any other rights.”
President Lincoln needed money to finance the Civil War, and the international bankers offered him loans at 24-36% interest. Lincoln balked at their demands because he didn’t want to plunge the nation into such a huge debt. Lincoln approached Congress about passing a law to authorize the printing of U.S. Treasury Notes. Lincoln said “We gave the people of this Republic the greatest blessing they ever had - their own paper money to pay their debts...” Lincoln printed over 400 million “Greenbacks” (debt and interest-free) and paid the soldiers, U.S. government employees, and bought war supplies. The international bankers didn’t like it and wanted Lincoln to borrow the money from them, so that the American people would owe tremendous interest on the loan. Lincoln’s solution made this seem ridiculous. Shortly after Lincoln’s death, the government revoked the Greenback law which ended Lincoln’s debt-free, interest-free money. A new national banking act was enacted and all currency became interest-bearing, debt instruments, again.

James A. Garfield-(1831-1881) 20th President of the United States.
Assassinated in Office.
President James A. Garfield said: “Whoever controls the money in any country is absolute master of industry [legislation] and commerce”.

Louis T. McFadden,-Chairman of the House Banking Committee-(1928-1935)
After two attempts on his life in 1933-1934, McFadden died “mysteriously” in 1935.

See His Comments in the Essay on Colonial Scrip.
John F. Kennedy -(1917-1963)-35th President of the United States-
Assassinated in Office.
On June 4, 1963, President Kennedy issued Executive Order 11110.

This Executive Order called for the issuance of new currency -
the United States Note. At the time, $4,292,893 of this currency was put into circulation. This new currency was to be distributed through the U.S. Treasury and not the Federal Reserve System. Furthermore, it was to be issued debt and interest-free.
Upon Kennedy’s assassination, this currency was withdrawn from circulation, never to be issued again. See Kennedy Solution

Good Luck Donald ! Long Live the King

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