John Dunn

First posted on Friday, 26 April 2013 at 21:21




The invasion force that carried William of Orange to England contained 463 ships and 40,000 men. It was almost twice the size of the Armada sent by Philip of Spain one hundred years before.








Within six years of deposing the rightful King of England, the Dutch financiers from Amsterdam who had backed the invasion of Britain, nominally under the leadership of William of Orange, together with the English Whig collaborators, sought to exact their return, with interest.They would fulfil their objective of taking control of the British economy, whilst installing themselves as its real governing force. This they did by establishing the Bank of England, the merits of which to its supporters were summed up in the oft-repeated sentence by its founder, William Patterson.

“The Bank hath benefit of interest on all monies which it creates out of nothing.”

The bank would be enforced as the only source from which government officials could borrow money, with the debt secured against public taxes. The country sold bonds to the bank in return for money it could not raise in taxes. The bonds were paid for by money produced from thin air. The government paid interest on the money it borrowed by borrowing more money in the same way. There was no way this debt could ever be paid, it has and will continue to increase.

Enough has been written about the scourge of fractional reserve banking, without going into detail here. Suffice it to say that, in times of economic upheaval, wealth is rarely destroyed and instead is only transferred. And it is those interests that control the money supply who benefit the most when money is scarce. When the majority of people are suffering through economic depression, you can be sure that these interests are continuing to get rich.

With the Dutch invasion of England and the founding of the Bank of England, the empire of Usura* entered history. Its hallmarks were power through the seizure of the money supply and the build-up of military might. These are what enticed the backers and collaborators of the invasion. These would be the twin pillars of Usura from this point on. Of the first £1.2 m raised as a loan with the Bank of England, half was spent on the building of warships. The omens were there right from the start.

*I have employed Ezra Pound’s collective noun describing the distended western economy with its lopsided foundation upon banking and the principle of "interest". Held within the term is the perennial struggle between the usurer and the producer, and the foetid decline when the former holds sway. Pound's famous poem says it all, and more.