by David Astle
I. "In the Beginning was the Word." 
II. The Temple and the Counting House
III. "Per Me Die Regnant!"
     "What is money? How did it get started? Who trusts it? Who has 
the right to print it or mint it?
     Is money here to stay and if not, what will take its place?
     Has there ever been, or will there ever be, equality in the 
possession of money or other assets?
     David Astle has given a good part of his life in a study of these 
questions and now puts the benefit of years of reading and research 
into this book which is part history; part criticism and part 
     To get back to the first question. What IS money?
     Some intelligent and some surprising answers are here." 
Gordon Sinclair
(Cover back)
Newsletter of the Naval Officers Association
     "One of our members, David Astle, has just finished writing one 
of the most erudite, extensively researched and interesting books that 
has ever come past this Editor...
     One expects it would be of considerable interest to those with an 
interest in the finances of the world, or in (very) ancient history, 
going back to the time of "money's" beginning in Mesopotamia and 
Egypt. The author is not gentle in dealing with the effect of the 
major financial manipulators, whether they be nefarious Egyptian 
Kings, politicians, the advisors to Charles of England, or even to 
today's dubious banking-influence wielders.
     His scholarly documentation of sources make it a textbook in its 
own right." 
(Front cover inside) 
     A study of the Origin of Certain Banking Practices, and of their  
effect on the events of Ancient History written in the light of the 
Present Day.  David Astle
     The author commenced a sea career at sixteen years of age. During 
the following years he travelled most of the world's great trade 
routes, and visited its principal ports. He served as an officer in 
the Royal Navy during World War II, seeing service in many theatres of 
     After he left the sea shortly after the conclusion of this war, 
he informs me that it soon became clear to him that the British Empire 
and everything he believed had been effectively upheld through the 
achievement of victory, seemed to be literally melting away before his 
eyes, and many unexplained factors, totally destructive of the "will-
to-be" of the European peoples, were apparently entering the current 
of life.
     In 1961, he was fortunate enough to  encounter those who were 
able to give him the information necessary to enable him to see in 
what direction he should guide his studies so that he would be able to 
better understand the true significance of this swiftly passing 
sequence of apparently chance events... "THE BABYLONIAN WOE"is one of 
the results of these studies. 
     In this scholarly work, true-born Anglo-Saxon David Astle, 
stylist in the greatest traditions of his people, has presented to the 
world a history of the effects of monetary mechanics in very ancient 
times, with emphasis on Ethno-psychology. It illustrates how, even in 
the earliest times of which written record remains, the days of 
Babylonia or before, a so-called monetary science undoubtedly existed; 
being then, as in today, never more than as instrument by which its 
secret and cynical controllers wittingly influenced the destinies of 
individuals, nations, and empires as to (temporary) glory or final 
     I strongly recommend this important and well-documented work as a 
most useful reference book; complementing any study of Economic or 
Monetary history. It will be a great asset to learned societies, top 
management, and self-teaching individuals in all parts of the world.
     The bibliography is a MUST for any who seek to understand the 
significance of monetary creation and emission in relation to human 
destiny and ultimate fate.
     Paul A Gwinner, PH.D.
(Back cover inside) 
"The Babylonian Woe" 
     With these cryptic words Milton ended the sonnet he wrote in 1655 
A.D. in which he expressed indignation and lament for the slaughter of 
the Piedmontese Protestants by Emmanuel II, Duke of Savoy and 
Piedmont, and which reads as follows:
     "Avenge, O Lord, Thy slaughtered saints, whose bones
Lie scattered on the Alpine mountains cold;
Even them who kept Thy truth so pure of old,
When all our fathers worshipped stocks and stones. 
     Forget not: in thy book record their groans
Who were Thy sheep, and in their ancient fold
Slain by the bloody Piedmontese, that roll'd 
Mother with infant down the rocks. Their moans.
     The vales redoubled to the hills, and they
To Heaven. Their martyred blood and ashes sow
O'er all the Italian fields, where still doth sway.
     The triple tyrant: that from these may grow
A Hundred fold, who, having learned Thy way, 
Early may fly the Babylonian Woe. 
     In 1926, not long after the end of the 1st so-called "Great" War, 
when the peoples of Europe were still endeavoring to stagger to their 
feet once again, weak with loss of blood after four years of what 
would be more properly called massacre, rather than war, Professor 
Soddy, famous Atomic physicist turned "Economist" wrote (after 
     Avenge, O Lord, they slaughtered sons, the Old 
World shambles richening with their scattered bones; 
Even them who kept thy truth,the scoffer owns,
When all our fathers worshipped gods of gold.
     The generous quest of youth and science sold,
The surplus changed forever being loans,
The wreck-strewn shores and devastated zones
Of war forget not; resurrect their mold.
     The flower the fire has mown, the roots decay,
The dust and ashes of the harvest sow
In every cot and croft where still doth sway
The money tyrant, that from these may grow
A hundred-fold, who having learned thy way
Early may fly the Babylonian Woe.
     In this present work David Astle clarifies for all time the true 
meaning of the words: "The Babylonian Woe." His own verse embodying 
this term, also written in lament, is to be found on Page v. 
(Page i) 
     "By using a mirror of brass, you may see to adjust your cap; by 
using ancient times as a mirror you may learn to foresee the rise and 
fall of empires." Emperor T'ai Tsung 627 A.D. - 650 A.D.
(Page ii)
     The intellectual faculties however are not of themselves 
sufficient to produce external action; they require the aid of 
     Augustus Boeckh; translated; The Public Economy of Athens, p7; 
Book I, London, 1828
(Page iii) 
A study of the Origin of Certain Banking Practices, and of their 
effect on the events of Ancient History, written in the light of the 
Present Day. 
by David Astle
Published as a private edition. 
Orders for this book and all communications to be addressed to:
Box 282, Station P, Toronto, Canada, M5S 2S8.
Printed by Harmony Printing Ltd. 
(Page v)
Demoralized our men; small pride now left!
Two useless wars! With racial kith and kin,
In battle of our Gods were we then reft...
Yes, Those who steered the wasted years of strife
Brought to the true, in death the end.
Now few their ashes watch or tend...
Who then is left to stay our natural rule?
And who shall say to weakness: "No more show!"
You sheathe the sword? None but a wishful fool
Thinks thus! One world for us who were One World?
Alas! Our Gods are gone forever! So
Who then shall fight the Babylonian Woe. 
Page vii
     "For money has been the ruin of many and has misled the minds of 
Kings." Ecclesiasticus 8, verse 2.
     When I originally approached my study as best I might, dealing 
with the growth in pre-antiquity and antiquity of what is known as the 
International Money Power, and the particular derivative of the money 
creative activities of such International Money Power that might be 
defined as the Life Alternative Factor, I did so with some diffidence. 
     Perhaps I was overly conscious of what seemed to be the 
inadequateness of my preliminary training in these matters and that in 
no way could I describe myself as deeply conversant with the languages 
of ancient times, or, in the  case of Mesopotamia, their scripts.
     However, in my preliminary studies involving checking through the  
indices of a number of those standard books of reference dealing with 
the ancient civilizations, I soon found that any feelings of 
inferiority in so far as the adequacy of my scholarship relative to  
my particular subject was concerned were unwarranted, and that qualms 
in these respects were by no means justified...
     In almost all of such books of reference, except those that 
classified themselves as economic or monetary histories, was 
practically no clear approach to the subject of money and finance, or 
to those exchange systems that must have existed in order that the so-
called civilizations might come to be. In the odd case where the 
translations of the texts might reveal some key clue, no more special 
emphasis was placed herein than might have been placed on the mention 
of a gold cup, a ring, a seal, or some exquisite piece of stone work.
     In Jastrows's "Assyria" there was no reference to money at all; 
in Breasted's "History of Egypt," a volume of six hundred pages or so, 
only brief mention on pages 97-98. In "A History of Egypt" by Sir 
William M. Flinders-Petrie, in the records of Sir John Marshall and 
E.J.C. McKay in respect to the diggings at Mohenjo-Daro, and in the 
writings of Sir Charles L. Wooley and others on their findings from 
their studies of the exhumed archives of the city states of ancient 
Mesopotamia, little enough information exists on the matters referred 
to above. In Christopher Dawson who wrote widely on ancient times, 
particularly in the "Age of the Gods" which dealt with most cultures 
until the commencement of that period known as antiquity, there is 
only one reference to money, casual and not conveying much to the 
average reader; this reference to be found on page 131... In Kings' 
"History of Babylon" there was practically nothing on these matters. 
     Thus in almost all of the works of the great archaeologists and 
scholars specializing in the ancient civilizations, there is a virtual 
silence on that all important matter, the system of distribution of 
food surpluses, and surpluses of all those items needed towards the 
maintenance of a good and continuing life so far as were required by 
climate and customs. 
     In all these writings of these great and practical scholars, the 
workings of that mighty engine which injects the unit of exchange 
amongst the peoples, and without which no civilization as we know it 
can come to be, is only indicated by a profound silence. Of the 
systems of exchanges, of the unit of exchange and its issue by private 
individuals, as distinct from its issue as by the authority of 
sovereign rule, on this all important matter governing in such 
totality the conditions of progression into the future of these 
peoples, not a word to speak of...  
     While it is true that the average archaeologist, in being 
primarily concerned with the results of the forces that gave rise to 
the human accretions known as civilizations, has little enough time to 
meditate on these forces themselves, especially since so little 
evidence exists of what created them, or of how they provided guidance 
to men in earlier days, the widespread character of these omission 
borders on the mystifying. 
     Virtual failure to speculate on those most important matters of  
all; the structure of the machinery of the systems of exchanges which 
undoubtedly had given rise to the ancient city civilizations, and the 
true nature of the energy source by which such machinery was driven, 
whether by injections of money as known this last three thousand years 
or so, or by injections of an exchange media of which little 
significant evidence or memory remains, is cause for concern. 
     The truth of the lines as quoted herein from Boeckh's "Public 
Economy of Athens" (page ii) is immediately clear to all and that the 
physical force underlying all civilizations must have been the system 
whereby surpluses were allocated to the people according to their 
place in the pyramid of life and to their needs; thus, when being 
controlled by the benevolent law of a dedicated ruler, maintaining at 
all times the true and natural order of life. 
     It must not be supposed,therefore, that there is a lack of 
understanding of the importance of these matters; nor that there is 
any special conspiracy of silence, even though there might indeed be 
the temptation to arrive at such a conclusion.
     (According to "Tragedy and Hope," the important and compendious 
work of Dr. Carroll Quigley, an outstanding scholar of liberal 
outlook, (as interpreted by the reviewer, W. Cleon Skousen), such 
conspiracy certainly exists, and is vast in scope to say the least.)
     Rather it were better to accept things as they appear, and assume 
that these scholars merely present the fragments of fact as they 
unearth them; leaving speculation of the true significance of such 
fragments of fact in relation to the weft and warp of life, to those 
considered to be particularly specialized in various fields 
represented. In the case of money and finance, the scholars concerned 
would be classified as economic or monetary historians.
     Thus little enough seems to be available on the subject of money 
and finance in ancient days. Nor seems to exist examination of the 
significance of such money and finance relative to the progress about 
which so much has been written in modern times. 
     Apart from Alexander Del Mar who wrote in relatively recent days, 
and apart from that of the philosophers of antiquity such as Plato, 
Aristotle, Socrates, Zeno, etc, almost no speculation seems to be 
available from scholarly sources in regards to the unprejudiced 
PHILOSOPHY of money, in ancient times. 
     On the all important subject of the consequences of the creation 
and issuance of money by private persons as opposed to its creation 
and issuance according to the will of a benevolent, instructed and 
dedicated ruler, almost no speculation seems to exist in ancient or in 
modern times. Of those forces that sought throughout history to 
undermine any ruler who may have been firmly in the saddle because of 
his exercise of that prerogative which is the foundation of the State 
Power or God-Will of which has is the living evincement, insomuch as 
he maintained firm control of the original issuance of money and its 
injection into circulation amongst the people as against State 
expenditures, almost nothing seems to be known. Very little 
information is available of the means those forces employed towards 
this purpose through injection into circulation amongst the peoples of 
silver and gold, and of instruments indicating possession of the same.
     Practically no information seems to exist of the growth of 
private money creation in the days of ancient city states of 
Mesopotamia, of which, because of their records being preserved on 
fire-baked clay, more is known than of more more recent civilizations; 
and the gap must necessarily be filled by a certain amount of 
speculation. Little is known of the beginnings of the fraudulent 
issuance by private persons of the unit of exchange, as in opposition 
to the law of the gods from whom kings in ancient times claimed to 
derive their divine origin; nor is there any information on the 
significance of such  practice relative to the continued stability of 
the natural order of life in which obtained that system wherein the 
fount of all power was the God; such power descending to man by way of 
king and priesthood and directing him as he proceeded about his 
everyday affairs, content that God is in His Heaven and all's right 
with the world. 
     The use of tools of hardened iron in the mining industry about 
the beginning of the first millennium B.C., together with a changed 
attitude towards slave labor in which the slave, so far as mining was 
concerned, was assessment at cost per life, must have brought 
relatively a very flood of silver into circulation  of the cities of 
the Near East. 
     Such flood off silver injected into circulation largely by 
private business houses who no doubt controlled the mines, however 
distant, especially after the institution of coinage in which a piece 
of silver of known weight and fineness passed from hand to hand, must 
finally and forever have broken that control of exchanges previously 
exercised by the god of the city through priest king and priest.
     Thus all, priest-kings and priests, came to forget that the 
foundations of the power given to them from on High towards the 
maintenance of the right living and tranquil procession through life 
of their peoples, were the laws of distribution of surpluses as 
written on the scribes tablet; laws instituted by the god himself, 
each ordering a specified dispensation from the surpluses in his 
warehouses in the Ziggurat, to the holder of the tablet. They too fell 
into the error of believing that silver with value created as a result 
of its being used as a balancing factor in international exchange, 
could become a perpetual storehouse of value... They themselves became 
consumed in the scramble for this gleaming metal, so conceding it, 
through its controllers the power to set itself up in opposition to 
the law of the gods; to raise itself up in its own right, a god in 
     In its exercise, the fiat of the internationally minded group of 
merchants and bullion brokers that arbitrarily dictated the exchange 
value of such silver, being in actuality determination internationally 
of the value of money, place such groups controlling silver exchanges 
above and beyond local laws of the local god, and indeed conferred on 
them the power to influence kingly appointment. It made of them the 
servants of one god, a god above all gods; thereby somewhat relegating 
the god whose order on the state warehouses as inscribed on clay by 
the scribe or priest, had been the law governing exchanges, to the 
place of their servant, their instrument...  
     "I have, however, kept before me as a guiding principle, in this 
as in other historical works  I have written, the maxim that the 
complexity of life should never be forgotten, and that no single 
feature should be regarded as basic and decisive," wrote Professor 
Rostovtsev, scholar and Economic Historian of renown. 
     (Mikhail I. Rostovtsev: "A Social and Economic History of the 
Hellenistic World, p viii, Vol I, Oxford; 1941)
     It is true that while no single feature in the progression of 
history might be regarded as basic and decisive, it is certain that 
neither money nor treasure will protect the weak and disarmed in the 
face of a brutal and determined conqueror beyond those successful 
achievements, can be no decision more final. It is also certain that 
the money accumulation mania injected by fame into the minds of  
people as a replacement to their concern with those natural qualities 
endeavoring to color the current of human life through time, amongst 
which are numbered virtue, honour, and godliness, destroys equally as 
another debilitating disease, and will surely and speedily drag any 
people down to a degeneracy and decay... A great army could not be 
more efficient in its power of destruction. 8
     The main discussion of the "Artha-Sastra" of Kautilya, Hindu 
classic instructing kings and rulers as to their proper conduct 
towards good government, was as to whether financial or military 
organization came first of all as the root of strength and power in 
any any organized state. 
     (Sarvepalli Radhaakrishnan and Charles Moore: "A Source Book in 
Indian Philosophy" p219-220. Princeton; 1957)
     Clearly in that day no less than this day, financial organization 
preceded military organization; therefore, there is not much point 
really in discussion of so obvious a fact and truth. 
     While an effete people, though money as it is known, is in their 
hands, soon give way to vigor; nevertheless vigor, without strict 
organization of its finances, which, while constituting strict 
organization of its labour, also enables it to create, or to obtain by 
purchase from elsewhere the finest of weapons, will not much avail... 
Thus and it has been demonstrated through history over and over again, 
it is clear there is one feature basic and decisive in the  
progression of human life; certainly during the latter years of which 
memory exists. That feature, particularly in relatively modern 
societies from the bronze age onwards, and during that period of the 
rapid perfection of the mass production of weapons, is monetary 
organization, and what precious metals are available for purposes of  
international exchange as against the purchase of those finest weapons 
and essential materials of wear only obtainable abroad, and as wages 
for the most skilled men at arms from wherever obtainable, abroad or 
     The gates of Egypt stand fast like Inmutet
     They open not to the Westerners
     They open not to the Easterners
     They open not to the Northerners
     They open not to the Southerners
     They open not to the enemy who dwells within. 
     (Ancient Egyptian poem; Christopher Dawson: "The Age of the Gods" 
p 148) 
     Much of history as we know it is the record of civilizations to 
counter and evade destruction of themselves from without or within, or 
is the  record of their efforts to destroy other seemingly competing 
civilizations or peoples attacking them from without or within. 
     War is as inevitable as is peace as the result of the exhaustion 
of war, and there are few peoples that escape; but wars of the last 
three thousand years have not been relatively infrequent occurrences 
and have been an incessantly recurring evil... It is no chance that 
the growth of warfare into a very cancer eating into the vitals of 
mankind, and more particularly the white races is parallel to the 
growth of that other cancer which is private, and therefore, 
irresponsible, money creation and emission...
     It seems that almost none of the scholars make any serious effort 
to throw light on the real meaning of this matter of private monetary 
emission, and the disastrous effects that it has had, and in finality, 
will have, towards the defining of the remaining period of time of man 
upon this earth, as being brief and uncertain.
     Those strange decisions of kings signaling the opening of wars as 
frightful and disastrous to the European peoples, as the last two so-
called "World Wars," decisions so abnegatory of self, but more than 
that, abnegatory of the best interests of the peoples they represented 
before God, far from being the directives of a benevolent force, are 
the directives of a force which cannot but be described in any way but 
as being wholly malevolent. 
     (For example, the folly of Britain in letting itself and the 
Empire be stamped into these last two so-called "Great" wars, may be 
compared to that of the man described by the Emperor Augustus who goes 
fishing with a golden hook; he has everything to lose and little to 
gain. [Suetonius: the Twelve Caesars II, 25.]) 
     The great engine which is the international control of monetary 
emission and regulation, driven as it was until recently by the  
catalytic fuel of gold alone, is not almost world embracing in the  
scope of its operations. It seems there is no change in the attitude 
of those its guides, nor any admission of the folly of their misuse of 
this God-power which they direct towards the good of themselves and 
their friends. Their obsession, despite ruin for all looming on every 
horizon, seems to remain the same narrow vision of the day of their 
own world supremacy wherein they will rule as absolute lords over all; 
although by now it should be apparent to them, no less than to all 
thinking people, that if this madness concealed within the much talked 
about conception known as progress is not brought to a complete 
arrestment, nothing remains but an end wherein shall be silence and no 
song,for indeed there will be no singer, nor any to sing to...
     As it looks today, it may be the end of the Indo-European peoples 
whose diligent labours made so much of this world of today... It may 
be the end, final and absolute for all men for that matter... it may 
be the end for this our Earth, our only place and home and hope in the 
awful endlessness of space and time.
     It should be more than apparent that in the relatively recent day 
when kingship and god-ship were one, so far as the simple souls were 
concerned, and the god  and his viceroy on earth, the priest-king,were 
creators and controllers of the economic good, exchanges were created 
in order that the people might live a fuller life, and not so much to 
benefit any secret society or interlocked group standing aside from 
the main paths of mankind, but to benefit all who kneeled humbly 
before the Almighty, each fully in acceptance of himself as part of 
the god-wish, eternal and infinite; each one in his time an integral 
unit carefully placed in the pyramid of life itself. 
     History over these last three thousand years particularly has 
largely been the interweaving of both a witting and an unwitting 
distortion of the truth, with all the inevitable consequences which 
have been expected and now are but a little way ahead.
     (Much of this was predicted in the the "Revelation of St. John 
the Divine.) 
     Kings largely became the mouthpiece and sword arm of those semi-
secret societies that controlled the material of money as its outward 
and visible symbols came to be restricted to gold, silver, and copper. 
The fiat of the god in heaven which had been the decisive force behind 
that which brought about an equitable exchange, was replaced by the 
will of those classes controlling the undertones of civilization, 
leaders of the world of slave drivers, caravaneers, outcasts, and 
criminals generally, such as was to be discerned on the edges of the 
ancient city civilizations, and followed the trade routes between 
     The instrument of this will was precious metal, whose supply was 
controlled by the leaders of these classes through their control of 
the slave trade, since mining was rarely profitable in the case of 
precious metals except with slave labour, even after the development 
of hardened iron tools and efficient methods of smelting. 
     The power of these men, indifferent and alien to most cities as 
they were, relative to that power it was replacing, which as the will 
of the benevolent god of the city had been made absolute by sowing in 
the minds of men over the thousands of years the idea of such metals 
having a specially high value relative to other goods and services 
being offered for exchange; indeed that they were a veritable store 
house of value. 
     The law of the ruler previously exercised towards the well being 
of the people in that they might live a good and honourable life 
accordingly became corrupted. It became merely a symbol raised before 
their gaze in order that they might not look down and see the evil 
gnawing away at the roots of the Tree of Life itself, destroying all 
peace and goodness. Nor could those semi-secret groups of persons be 
seen who so often were the sources of such evil. In their contemptuous 
indifference to the men of the states who found meaningfulness and 
tranquillity through life lived in natural order under the law of the 
King, they constituted hidden force deeply inimical to the best 
interests of mankind. 
     Through stealthy issue of precious metal commodity money into 
circulation amongst the peoples, replacing that money which 
represented the fiat or will of the god of the city and which was 
merely an order on the state warehouses through his scribes, this 
internationally minded group, from the secrecy of their chambers, were 
able to make a mockery of the faith and belief of simple people. The 
line of communication from god to man through priest-king and priest 
was cut, being replaced by their own twisted purposes such as they 
were; not however guiding mankind into heaven that could have been and 
where all would be life, and light, and hope, but into such hell as to 
escape from which men might gladly come to accept the idea of Mass 
Bibliography: 131 citations
Page 1
     Every conclusion in respect to money and its creators in the 
world of the Ancient Civilizations indicates the existence of a far 
reaching conspiracy in respect to monetary issuance influencing the 
progression of man's history. It was parent to that acknowledged and 
most obvious conspiracy such as exists today.
     (According to the review of Tragedy and Hope, Dr. Carroll 
Quigley; New York 1966, as contained in the Naked Capitalist published 
by Leon Skousen, Salt Lake City 1970)  
     The whole notion of the institution of precious metals by weight 
as the common denominator of exchanges cannot but have been 
disseminated by a conspiratorial organization fully aware of the 
extent of the power to which it would accede, could it but maintain 
control over bullion supplies and the mining which brought them into 
being in the first place. 
     As far back as Neolithic times, values (and by inference money) 
were already expressed in terms of silver by weight at the time of the 
Azug-Bau Dynasty at Kish in Mesopotamia (3268-2897 B.C.) 
Page 2
     That sales are recorded in the 4th Millennium B.C. means that 
even at that time, there was a clear conception of the significance of 
that abstract monetary unit for sales were in terms of money. The true 
meaning of such a concept being largely incomprehensible to most even 
as in this day, except they were the truly initiated, those 
controlling the internal exchanges, namely the priesthood and scribes, 
might well be excused if they early fell into the error of expressing 
values in terms of the standard of values in international trade. This 
serious error brought about finally not only the collapse of that 
power through whose medium the god kings were best able to serve their 
peoples, but also the collapse and fading of the meaning and 
benevolent purpose of the god kings themselves. 
     With silver bullion controlled by an international and 
conspiratorial minded group, as indeed it is obvious it must have 
been, considering the main sources of silver supply as being far away 
from those centers of civilization whose money depended on it, and yet 
with people coming to equate money, in actuality the law of the rules, 
then it becomes quite clear that scarcity or plenty in money depended 
on the manipulations internationally of that group controlling the 
distribution of precious metal bullion, and the plenty or scarcity 
they created, as was convenient to them. 
     If there was no silver, why then, there was no money and prices 
fell. Substitute gold for silver, and history seeming to fast repeat 
itself, we have the condition of the European world of the last 2000 
years. If there was no gold, why then again, there was no money. 
Page 3
     Hence was able to develop that conspiracy against mankind most 
exemplified by a continuous propaganda of hate against all authority. 
     As those controlling totally the economic life of a state through 
monetary creation and emission must have felt that kings and gods were 
more of a nuisance than anything else, the instigators of this 
conspiracy in whatever place and era, obviously were those who first 
did the business of bankers; the controllers of values, and 
consequently the economic life of the states wherever the precious 
metal standard was used. 
     According to Sir Charles Wooley, the excavator of Ur, the unit of 
exchange in the 4th Millennium was the measure of barley. Salaries of 
government officials of Hammurabai, King of Babylon, were assessed in 
barley but paid in silver. 
     The notion of the numerous officials of Babylon waiting in line 
to have silver cut off from the bullion bar, although offered with 
sincerity, patently is as erroneous as that conception of the every 
day use in the exchanges of the "aes rude" in a similar way in which 
classical scholars and numismatists would have us believe; and which 
implied that the foreman and his laborers in ancient Rome also waited 
in line to have a fragment of copper weighed out in order that their 
wives might be able to go to the market to purchase the evening meal. 
Page 4
     Clearly the word silver in the texts means no more than the word 
"Plata" in modern Spanish, or "Argent" in modern day French. These 
words literally translate as silver, but as money, they may be 
anything from a grimy tattered paper note, to a silver peso, to the 
brass coin. Similarly, the word from the texts denoting silver may be 
safely said to have meant that which passed for money, be it clay or 
wood or class or leather or papyrus or stone. 
     (In his book "La monnaie dans l'antiquite" Francois Lenormant 
commented "We have proof of the use of glass money in Egypt from the 
beginning of the time of the High Empire.")
     Thus once money had come to be more of an abstract unit of 
account based for its value in desirable goods and services, on the 
barter power of a certain weight of silver bullion related to the 
constant value of barley, it was no major advance for those who 
benefited most from this conception, namely the bullion brokers, money 
changers and bankers, to find a weak king and a corruptible priesthood 
who could be brought to lose sight of the total control of the city 
which was the right of the god they served and who might turn a blind 
eye to those other more sinister activities by which the power of the 
Ziggurat was further undermined. 
     In the Age of Gods, Dawson remarks:
     "The temple was the bank of the community through which money 
could be lent at interest and advances made to the farmer on the 
security of his crop. Thus there grew up in Mesopotamia a regular 
money economy based on precious metals as standards of exchange."
Page 5
     This information from Dawson is most illuminating; but of the 
undertones, he seems to see little, or he just does not choose to 
speculate as to their nature. 
     Principal amongst those undertones, and quite possibly the force 
that brought these changes about, may safely presumed to be the secret 
and private expansion of the total money supply effected primarily by 
the issuance into circulation of false receipts for silver and other 
valuables supposedly held on deposit. 
     Such receipts would be accepted by merchants instead of the 
actual metal, and would function as money, and would be an addition to 
the total money supply, though not understood as such by the rulers 
who would thus easily be inveigled into lending their sanction to 
seemingly harmless practices; or at least into turning a blind eye; 
especially if priesthood and scribes so advised.
     According to Wooley, trade seemed to extend from the city of Ur 
over the whole known world as far afield as Europe, being carried on 
by means of letters of credit, bills of exchange, and "promises to 
pay" (cheques), made out in terms of staple necessities expressed in 
terms of silver at valuation of barley.
     (On page 124 of his book Abraham (London 1936), Wooley comments: 
"A trade which involved the greater part of the then known world was 
carried on with remarkable smoothness by means of what we should call 
a paper currency based on commodity values.)
Page 6
     The merchant loaned money to his customers, such money merely 
being an abstraction indicated by the figures on the clay tablet; in 
earlier days being backed by the will-force of the god of the city, 
and in latter days by the promises of silver. 
     Thus, the caravaneer or traveling merchant gave credit. Whether 
his own or that of the merchant for whom he was agent or directly from 
the Ziggurat itself, it functioned as a form of foreign aid similar to 
foreign aid today. Considering that the merchant operated solely with 
the credit of the temple that raised him up, while the temple remained 
supreme, such foreign aid was instrument of state policy, maintaining 
the servility of lesser states while maintaining the steady working 
capacity of the home manufacturies, and a contented people in 
Page 7
     With the growth of silver in circulation, that which had been 
total economic control from the gods through his servants in the 
Ziggurat was bypassed and merchants were now able to deal privately 
using their own credit or powers of abstract money creation. They were 
able through the control of distant mining operations to afflict a 
previously dedicated priesthood with thought of personal possession; 
and through the control of the manufacture of weapons in distant 
places, they were able to arm warlike peoples towards the destruction 
of whosoever they might choose. 
     Those merchants who were the main sources of precious metals came 
to realize that they could actually create that which functioned as 
money with but the record incised by the stylus on the clay tablet 
promising metal or money. Obviously, as a result of this discovery 
which depended on the confidence they were able to create in the minds 
of the peoples of their integrity, provided they banded themselves 
together with an absolute secrecy that excluded all other than their 
proven and chosen brethren, they could replace the god of the city as 
the giver of all. 
Page 8
     Some evidence of the knowledge and previous existence of such 
practice of issuance of false receipts as against supposed valuables 
on deposit for safe-keeping clearly exists in the Law No. 7 of the 
great Hammurabai Code.
     According to Professor Bright, the Code of Hammurabai was but a 
revision of two legal codes promulgated in Sumerian by Lipit-Ishtar of 
Isin, and in Akkadian by the King of Eshnummua in 1950 B.C.
     The severity of the penalty and the placing of this law so high 
in the code leave little doubt that it was directed against an evil 
that was by no means new, and, who knows, may have been one of the 
deep seated causes of the invasions that devastated Ur from the Gutim, 
the Elamites, the Amorites, and the Hittites; for no doubt of old, 
just as today, Money Power was as busy arming the enemies of the 
people amongst whom it sojourned, as that people themselves. 
     While scholars do not appear to have paid any special attention 
to this particular law, or to have attached any special significance, 
its true intent and purpose is clear to anyone conversant with the 
origins of private money issuance in modern times, as indicated by the 
familiar story of the goldsmith's multiple receipts. 
Page 9
     "If a man buys silver or gold or slave or ox or sheep or anything 
else from a free man or has received them for safe custody without 
witness or contract, that man is a thief; he shall be put to death." 
     The requisite witnesses and contract attesting to the true facts 
of valuables on deposit would to some extent obviate the danger of the 
goldsmiths creating receipts for valuables that did not exist.
     Provided a corrupted priesthood turned a blind eye to this 
practice and loaned their sanction thereto, such fraudulent money or, 
in the misleading euphemism of a corrupted world, "credit", would be 
equally effective in foreign markets as in the home markets.
     The severity of the penalty would have been an absolute deterrent 
to such practice that since that time, and more especially in modern 
times since the 16th Century A.D., has become so indurated to a 
Page 10
     At the time of the promulgation of the Law of Hammurabai, both 
private property and private issued money seem to have been well 
established. It is to be assumed that ignorant of noble caste or 
otherwise were already deferring to that magic known as money in much 
the same manner as they did at all times through latter history when 
faced with the necessity of compromise with private money creative 
power whose activities had been permitted by foolish kings and to whom 
such kings had even committed the finances of the realm such as during 
the last four hundred years in England. 
     In the time of Hammurabai, merchandising was by no means regarded 
as an end in itself, and a means whereby it was the right of ignoble 
men to proffer any corruption to the people so long as it made 
"profit" for them, and "interest" for the so-called bankers who 
supplied the original "finances" out of his secret and costless money-
creative processes. 
     Money lending still had not come to be a means whereby man-hating 
and therefore corrupt secret societies might seek to overturn the tree 
of life itself by way of sowing the seeds of decay in that true and 
natural order of life which had been ordained from time immemorial.
     Private money creators had at that time by no means arrived at 
that point where they might conspire to present complete defiance to 
the gods and their appointed and install jackasses in the places of 
the mighty, as too often was the case in the latter days. 
Page 11
     Out of the vague shadows of war and power and peace emerged that 
force known as Classical Greece. Much of the revitalization derived 
from the increased availability of silver as a result of the expansion 
of the mining industry due to the increasing use of tools of hardened 
     This flood of precious metals gave rise, with the consequent 
strengthening of the shift of money creative, or total power center, 
from the god and the temple to what some might describe as the devil 
and the counting house, enabled those conspiratorial groups who 
undoubtedly controlled precious metal bullion supplies, the "Apiru" 
who seemingly belonged to no city, yet were to be found in them all, 
to set up a supra-national god as the fount of their secret power, a 
god who should be contemptuous of all other gods; living in no idols, 
he would be in all, and over all; unseen, but all pervading. 
     (According to Professor W.F. Albright, "There was a large and 
apparently increasing class of stateless and reputedly lawless people 
in Palestine and Syria to whom the appellation "Apiru" was given. They 
were a class of heterogeneous ethnic origin and spoke different 
languages, often alien to the people in whose documents they appear." 
Apiru must mean "dusty ones" from the fact that the bearer of the 
designation trudges in the dust behind donkeys, mules and chariots. 
Thus it would appear that the restless "Apiru" of later times, 
mercenary soldier, bandit or smuggler, was the descendant of the 
donkey caravaneers who maintained the trade between the cities of the 
known world. Samuel Mercer refers to the use of the name "Habiru" at 
Babylon in the times of Hammurabai. The secret societies of a group 
known as "Haburah" seem to have existed beyond the times of the 
destruction of Jerusalem by Titus.)
Page 12
     If the god of such secret society or confederacy controlled 
movements of silver bullion internationally, he might well be 
contemptuous of all city gods other than himself, for when money 
values were based on his silver in such international exchanges, then 
he and his acolytes knew that all prosperity in the kingdoms depended 
on him, and whether he ordained through his servants that silver 
should be plentiful or otherwise; whether indeed there would be no 
money and hardship, or plenty of money and prosperity. 
     In the latter days of declining temple power, prosperity would 
also depend on whether rulers turned a blind eye to that privately 
created ledger credit page entry money whose use the international 
money changers were undoubtedly promoting as facilitation to exchanges 
between select and secret groups of persons and so would strengthen 
themselves and their one-God all-powerful, all omnipotent... 
Page 13
     The ruthless and stern edicts of such princes as Hammurabai of 
Babylon, while perhaps effective in Babylon, would not avail in all 
those cities to which the money changers undoubtedly carried their 
arts, especially if they were not subject to the rule of Babylon. Who 
knows to what extent the seizure of Ur by Hammurabai was the result of 
his determination to extirpate the source of this attack on kingly 
     That close to the throne were those who secretly held in contempt 
the god-king is clear from the following excerpt from Wooley in 
respect of his discovery of the tombs of the kings of the IIIrd 
dynasty at Ur:
     "The tomb had been robbed just as the earth was about to be put 
in; nobody would have dared when the pit was still in use, nor, if 
such sacrilege had been done, would the bricks have been left 
scattered on the floor and the breach unfilled. The robbers must have 
chosen their moment when the inviolable earth would at once hide all 
traces of the crime and they could afford to be careless."
     On the ramp leading down to the king's tomb would have lain the 
bodies of those who had elected to accompany their Lord into the 
regions beyond. It would have been almost impossible for such 
carefully timed robbery to have taken place over the bodies of those 
who would be amongst the first ladies of the court and certain 
officials without there having been a well planned conspiracy. 
Page 14
     When the robbery was effected, it is clear they were already 
dead, there had to be connivance of certain persons in high places to 
whom this great devotion was without meaning. Such gold and silver 
would have been useless and a dangerous possession except to those to 
whom it meant money and power internationally and by whom it could be 
melted and rapidly transformed abroad. 
     The famous temple of Solomon was not only used as a treasury but, 
as in Babylonia, as a bank. The arts of banking were in no way as 
developed as they were in Babylonia and Assyria. Amongst the Apiru, 
undoubtedly confederates of the Israelites in later times, were 
clearly many refugees from the cruel debt slavery existing in 
Babylonia during the 2nd Millennium. Apart from the firm laws in 
respect to the taking of interest, the Jubilee of the 50th year 
(Leviticus 24.II), if fully enforced, would render any efforts to 
create monopoly ineffective. Thus it can be seen that the God in his 
holy shrine ruled in the same way in that ancient Hebrew kingdom. 
Page 15
     The Greek sanctuary owed existence to similar forces that had 
given rise to the temples of Mesopotamia and to the temple of Solomon. 
Functioning in like manner, clearly it originated from those distant 
days when the priesthood considered themselves as the direct 
representatives of the gods on earth, the shepherds appointed to the 
Page 16
     The temple of each small city in Greece may have functioned as 
did the great temples of the powerful city states of earlier days, and 
money, that is the law controlling exchanges as to a common 
denominator of values, may have come into existence as entry in the 
temple ledger, although how represented in the circulation does not 
seem to be clearly known. The notion of exchanges being conducted in 
terms of cattle cannot be accepted as that which created an exchange 
amongst the common people of the city civilizations. 
     It is clear that local tribes such as the Bushmen of South Africa 
have been conversant with the basic principles of money as pieces of 
certain shell, cut according as tradition demanded. 
Page 17
     It may reasonably be expected that the intelligent Indo-Europeans 
from whom stemmed the Greeks were equally conversant with such 
principles; even if later they came to forget them. According to the 
Cambridge Ancient History:
     "Ivory beads in countries now devoid of elephants suggest either 
wide range of movement or some form of exchange."
     The graves of Sungir reveal similar mammoth ivory beads proven to 
be 23,000 years old or more. During the old kingdom of Egypt when 
"numberings" of all accepted as wealth and possession were taken every 
two years, and therefore books kept, a most refined system of 
distribution of surpluses and therefore creation of exchanges must 
have existed. The connection between such system and the "scarabs" 
seems to have been generally dismissed. That scarabs have been found 
in their hundreds in places far removed from Egypt indicates 
significance far removed from their use as ornaments. 
     The agents of Babylonian Money Power would themselves have 
promoted establishment of the temple nucleus to the city state. It was 
the form of government they understood best and they knew how to 
control and subvert it if necessary. Just as the similar secret money 
creative force heads directly for the seat of government itself in 
this day and age, and once it becomes fully lodged and acknowledged, 
in the same way as with the establishment of the Bank of England in 
1694 and the Federal Reserve Bank in 1913, two instances with which we 
are most familiar, it penetrates right into the heart of the treasury, 
so it was in that day. 
Page 18
     As amongst the original aristocracy of Greece would be little 
enough sympathy for the smooth subtleties of those newcomers 
originating from the countinghouses of the Phoenician, Aramean or 
Babylonian Cities, it would not be to the natural political leaders 
that these newcomers would address themselves in the first place, but 
to the priesthood, those who controlled the temple, the advisors and 
guides to such rulers. Just as in today, such priesthood is too often 
composed of men of little understanding of the realities of financial 
life and who lend themselves almost eagerly to any power with 
sufficient front to offer them more than the god they represent, so it 
was in that day. 
     Thus the cities that rose out of the industrial awakening of 
Greece had all the appurtenances of the sacred city state of more 
ancient days. 
     However, too often during the last three hundred years, kingship 
has become little more than a front giving legality to such money as 
circulates, bearing as it does, the profile of the ruler who so often 
has been unwitting co-conspirator, if only as essential instrument, 
with that money power, totally international in character, which has 
nowadays largely replaced kingly power as the true ruler, so it was 
that the temple became a front for the international money creative 
force of that day and age; connected closely with the trade in 
precious metals and slaves as it must have been. 
Page 19
     Thus, as the distant heir to this temple of ancient days, the 
temple of the Greek city state in the 1st Millennium B.C. was still a 
place looked up to as the abode of the gods; even if that economic 
power by which, as the expression of the benevolent will of the god, 
it had controlled the total existence men, was now exercised by an 
external and indifferent force, alien to Greek and with whom it 
connived against its own adherents. 
     The temple of Apollo at Delos had become merely a front for the 
economic purposes of a secret fraternity whose concern was money 
changing, silver bullion and the slave trade. 
Page 20
     These persons had conducted their business in the shade of the 
temple courtyards from ancient days as might give sanctity to their 
activities which so often were exercised against the well-being of the 
people who sheltered them. Such activities were frequently concerned 
with the movements of bullion, the factor most of all giving rise to 
instability and therefore so necessary to the full exploitation of the 
     The island of Delos, although virtually infertile and without 
special advantages such as natural harbors, due to gifts of pilgrims 
visiting the temple of Apollo and the deposits of the cities, 
"trapezitae" and leading citizens, became very rich; a great center of 
trade and banking, and above all, a center for the great slave trade 
from which almost none were safe. 
     (Plato was reputed to have been sold as a slave for 20 minae.)
     Oskar Seyffert, in Dictionary of Classical Antiquities wrote:
     "Delphi, Delos, Ephesus and Samos were much used as banks for 
loans and deposits both by individuals and governments." 
     Therefore, the great sanctuary functioned very much the same way, 
from the economic standpoint, as the central bank in this day. The 
agents of International Money Power, as used by the priesthood to take 
care of the fiscal dealings of the temple and to whom was farmed out 
the credit of the temple, must have fully understood that the 
priesthood had betrayed their high calling. These agents would have 
lurked as only faintly discernible shadows behind the temple facade 
although they instigated much of what came to pass in those days. By 
maintaining the position of the priesthood, they maintained themselves 
and their secret power for whatever they brought about, especially if 
of evil, it may safely be assumed, the priesthood would be held 
Page 21
     Hence the people never questioned the existence of the temple but 
as the place where the will of god was exercised through his servants. 
That it had come to function more as instrument in the capacity of 
front for an international power concerned largely with money creation 
and the control of the slave trade was something they never came to 
fully understand. No more in this day do those who toil on through the 
few years of their lives realize that the governments that they so 
naively believe are theirs are but a wavering shadow. The absolute 
reality of sovereign power only obtainable through total control over 
monetary creation and emission and cancellation is not theirs. They 
but function as standards but which international money creative 
forces create the world's money in a given area. 
     Therefore, this economic power would not only derive from those 
loans in precious metals but also from the fact that those very secret 
fraternities understanding fully the principles of Ledger Credit Page 
Entry Money, operated under it's patronage. There can be no doubt that 
the principles of monetary inflation, or better put, abstract money 
creation, were well understood to the "trapezitae" or professional 
bankers to whom the Temple at Delos apparently delegated these 
Page 22
     And equally known was how easily merchants could be trained to 
make payments by cheque drawn on account consisting of supposed 
deposits with a recognized banker. Thus no transfer of actual silver 
need have been involved and what is now euphemistically described as 
the fractional reserve system (a swindle indurated into a system!) was 
operated. The enormous volume of exchanges that could be carried on 
without the movement of one drachma of silver, and consequently the 
monopolization of trade and industry and subsequent control over the 
whole world and its affairs that could be brought about at literally 
no real cost, provided those dealing in money changing and financial 
matters maintained close solidarity, was known to the bankers. 
     The tremendous entre-pot trade of Delos, especially in slaves, 
could not derive from anything else other than the acceptance of the 
"Credit" of the temple from the hands of these aliens. These men would 
be skilled money changers bred and trained in the ancient financial 
sophistication of the cities of Babylonia, Aram, Phoenicia,etc. They 
would be fully conversant with the possibilities inherent in such 
ledger credit page entry money and whose successful functioning as an 
abstract inflation of the number of units of silver they claimed to 
control, depended on secrecy and solidarity amongst themselves, and 
above all, on the patronage of the corrupted temples. 
Page 23
     This flow of silver to Delos would have enabled Delos to 
partially replace Athens during the 3rd century B.C. as the new center 
from which international money power came to control the finances of 
the Eastern Mediterranean. Professor Rostovtsev refers to a purchase 
of grain in Delos by a Sinotes of Histicaea, a subject city of 
Macedonia in which he observes that the purchase was made out of money 
advanced by a Rhodian banker. This suggests that the banking of Rhodes 
was interlocked with that of Delos and that those silver reserves of 
the Temple of Apollo functioned also as reserve to Rhodian banking. 
Delos, because of its sanctity would constitute a much safer store 
house for precious metal hoards than ever Rhodes might be. 
     Previous references to banking in Grecian cities as being 
conducted by aliens are also verified by Rostovtsev. The question 
therefore arises "What aliens?" Would they be members of the same 
fraternity of men who were standing almost above mankind in their 
manipulation of powers that not so long previously had been reserved 
solely to the gods and exercised through a dedicated priesthood? Such 
power being lost to kings forever when they permitted the institution 
of accounting to a silver standard. 
Page 24
     The latter days of Delos and the Temple of Apollo when 10,000 
slaves were shipped abroad in one day alone would certainly suggest 
the existence as controllers of its economic affairs a class of 
persons internationally minded and utterly callous to the sufferings 
of the mixture of broken races that passed before it on the way to the 
slave stockades. Although slavery previous to the 4th century B.C. had 
been more in the nature of a benign custom similar to the custom of 
the bonded servant or apprentice of the 18th century in Northern 
Europe, after the Macedonian conquests it became a custom in no way so 
benign and herding of all kinds of persons formerly free, day in and 
day out, on to the ships of the day, could not have been accomplished 
but with whip and chain, and families being torn apart without 
compunction or compassion and little children defenseless against the 
abuse of monsters. 
     While the facts of the Temple of Apollo at Delos are relatively 
clear, supposition of the existence of the Temple of Athene at Athens 
as being under the secret control of the bankers, while not being so 
clear, is logical. 
     The reserve of 6000 talents of coined silver stored in the 
Acropolis at the beginning of the Peloponnesian War would certainly 
seem to indicate that the Temple loaned itself to that major activity 
of so-called bankers, the creation of abstract money, and shielded 
them in their very carefully guarded secret that most money 
circulating between merchants within and without the Athenian empire 
was that which was created as by ledger credit page entry. The silver 
reserve would have been the banker's window dressing and served to 
take care of day to day expenses. 
     The Peloponnesian War ended no more than little over a hundred 
years before the time of Alexander. According to A. Andreades in his 
essay on the war finances of Alexander the Great, total expenditures 
per annum at the time of the crossing of the Hellespon were 5000 - 
7000 talents. This was the expenses of an army far from home and to 
which little credit would have been available and most disbursements 
would have been paid in solid metal. 
Page 25
     It is therefore out of the question to consider whether 6000 
talents of silver were adequate for the total finances of the 
Peloponnesian War over ten years. If all disbursements had been in 
silver, it is doubtful if such a so-called reserve could have lasted 
six months. 
     This silver was merely the foundation of that illusion that those 
baked clay facsimiles of Greek coinages which circulated so well 
between merchants and governments were redeemable in silver coin; just 
as the last three hundred years in the British Empire all the Queen's 
loyal subjects have believed that every bank note in circulation was 
redeemable in gold!
Page 26
     On the subject of such fiduciary currencies in ancient times, 
particularly Athenian, Francois Lenormant wrote: 
     "Cedrenus claims that the Romans had wooden money in very ancient 
times; but this tradition can probably be relegated to the domain of 
fables with the Roman money of clay of which Suidas writes. However it 
could be that this last information is connected with several types of 
assignat briefly used at the time and which could not have been 
emitted by public authority. Clay molds of silver and gold currencies 
of various countries are frequently found in Athens. 
     The learned Sicilian Numismatist Antonio Salinas, during his stay 
in Greece, collected a large number of these monuments, either as 
originals or molds or drawings. The purpose of this special class of 
objects that are of course connected with numismatics is very obscure. 
But it can be conjectured that such pseudo-currencies of baked clay 
molded from existing types of money had a fiduciary circulation of 
quite a private character, however, similar to that of the credit 
notes whose emission as authorized in certain countries by particular 
     In other words, the clay facsimiles functioned in much the same 
manner as did bank notes over the last three hundred years in the 
Anglo-Saxon world; they were money, privately created and emitted. 
     Francois Lenormant lived at a time when relatively little was 
realized by numismatists of the functions of "Ledger Credit Page Entry 
Money," or often enough of money itself as being so many numbers 
injected into circulation amongst the people, either as pure 
abstraction and functioning as by transfer of such ledger credit page 
entry, or as tangible record on clay, paper, copper, silver, or gold. 
Page 27
     The city states of the rulers of Troy, Tyryns, Mycenae and cities 
and states without number and of which not even the name or memory now 
remains, too often, finally went down into smoking ruin before the 
deluge of wild men, men such as the wearer of the golden mask whose 
grave was opened by Heinrich Schlieman in his excavations at Mycenae 
and who he believed to be Agamemnon sleeping his everlasting sleep.
     Buried sword in one hand, with the other, this giant amongst men 
still clutched in death as in life those disks of gold which so 
obviously were storehouse of wealth and power. 
     Thus it is clear that by permitting gold to be equated with 
wealth, or that which had been money, his law alone, merely a device 
of transferable numbers to assist and give order to the exchanges 
amongst his people, this god-king was already surrendering his might, 
and the freedoms of his peoples, to those inscrutable shadows that 
lurked in the dimness of the distant Babylonian counting houses. 
     To these rulers, power was already in the merchant's and the 
master miner's precious metal pieces. With such precious metals as 
they stripped from the bodies of the living and dead in those cities 
they had so gleefully sacked and put to sword, when peace came again, 
they were able to purchase those items of luxury and obtain the finest 
arms that skilled craftsmen could fashion. 
Page 28
     Rings and disks and tiny axes as found at Troy, all of gold, and 
the four hundred round pieces of gold and the one hundred and fifty 
golden disks found in the toms of Mycenae (dating from 1500 B.C.) all 
clearly represented some form of exchange or money. Spirals of gold 
adjusted to the small Aegean gold talent of 8.5 grams which he 
classified as the Aegean gold unit imply the use of a gold unit in 
international exchanges even at this early time. 
     (It is interesting to note that amongst so much precious metal 
was also found a large number of oyster shells and unopened oysters. 
At the time of Schlieman's diggings, nothing was known of the 
extensive use of shell money in ages long gone by but it is quite 
clear that the oyster shells belonged to a day already nearly 
forgotten when shells were money. In the I Ching, one of the earliest 
books of the Chinese, 100,000 dead shell fish are given as an 
equivalent of riches.)  
Page 29
     Spiral or ring money during the reign of Pepi II, Pharaoh during 
the 6th Dynasty, may have been one of the factors by which the 
International Money Power of the time, in whatever form it existed, 
brought about the total collapse of kingly rule in Egypt in the years 
subsequent to the death of this ruler. 
     The Hebrew records also appear to verify this use of metal rings 
or spirals being used in settlement of trade balances between 
foreigners or of being storehouses of wealth. 
     There is no mention of gold money in ancient Hebrew records 
though gold constituted part of the wealth of Abraham, undoubtedly 
refugee from Ur about the time of its destruction by the Gutim. The 
600 shekels of gold by weight paid by David for oxen of Ornan and the 
6000 shekels of gold taken by Naaman on his journey to the King of 
Israel do not imply money. Gold was generally employed for personal 
ornamentation and for adornment of the temple. 
     It is therefore probable that a system of jewel currency or ring 
money was in use. 
Page 31
     Stone weights were already marked with their equivalence in such 
rings. The circulation as money of these "promises to pay" recorded on 
stone pointedly suggests the likelihood of the activities of a secret 
fraternity whose hereditary trade was private money creation. 
Page 32
     It would appear that the money used by the children of Jacob when 
they went to purchase corn in Egypt was ring money. Their money is 
described as "bundles of money" as verified in Deuteronomy "Then shalt
thou turn it into money and bind up the money in thine hand." 
     The Greek city state wealth was already assessed in terms of the 
weight of their store of precious metals which would be so eagerly 
accepted in exchange for the products of the master armorers employed 
by the bankers who already controlled trade and money creation in 
those cities of the Ancient Oriental. 
Page 33
     The peasant king at Mycenae or Troy, for all his seeming rock-
like strength, necessarily existed as instrument of those who 
manipulated gold or silver supplies internationally, and at the same 
time the slave market; men of a class who, in that control of prices 
which they so clearly exercised, were able to control prosperity in 
all those seemingly powerful states that had accepted the 
international valuation of silver as the factor determining internal 
or national values. They may have been, as it seems they are today, a 
close knit conspiratorial group threaded through the priest and 
scholar class of these cities, though not themselves of such origin.
     The answer may be found to lie in the existence in very ancient 
Sumeria of a privileged class, who, having access to the "credit" of 
the temple, thus were able to control the masters of the great donkey 
caravans who carried such "credit." These persons must have functioned 
as bullion broker and banker, would have been fully clear on the 
subject of  silver and its function in settlement of foreign trade 
balances and its use as a standard on which to base money accounting. 
Page 34
     We must look to the professional caravaneers for widespread 
dissemination of the knowledge of the possibilities of private money 
creation deriving from a clear understanding of the meaning of 
accounting to a silver standard and later the potentialities towards 
development of monopoly trade inherent in the actual use of silver as 
the material on which the numbers of the abstract unit were stamped. 
The full extent of the possibilities towards the accumulation of 
wealth through exploitation of varying ratios between silver and gold 
in different parts of the world and the possibilities of a private and 
secret expansion of the total monetary circulation may also have been 
known to them. 
     As such accounting to a silver standard had long been known in 
the lands of Sumer and Akkad, control of values had long since been in 
the hands of the silver bullion brokers and the money lenders and 
bankers. Through bullion they controlled money and through money 
creation on that bullion as base, they controlled manufacturers. 
Page 35
     Thus it seems that where the conception of money as to a silver 
standard existed as at Ugarit and Alalakh, so also existed the private 
manufacture of arms under methods of mass production. It is not 
without significance that this early era of privately issued money and 
consequent private industry, particular that devoted to arms 
manufacture, was in certain areas so coincidental with the massive 
movements of warlike peoples, and the collapse of ancient empires.
     Conquering peoples needed the best arms The best arms were 
obtainable from private industry; and private industry needed silver 
or gold or labor which was slaves, in payment. Both were obtainable as 
the result of war. Therefore, parallel, the more war, the more the 
industry and the more the need for the products of the money creators' 
ledgers. Hence became the more absolute control of that which most of 
all designs industry and its accompanying slavery in one form or 
another, namely, private money creative power. 
Page 36
     Controlling labor as they did through control of the slave trade, 
they were in a position to have manufactured in some scale the finest 
weapons for those rulers who collaborated with them and served their 
best purposes. With such total money control, they were in a position 
to withhold the best of weapons from those who served them the least. 
In a world that had come to believe in money as an absolute, such was 
the position long ago, exactly as in today. Thus the state that 
rejected international money power, as did Sparta and Rome in ancient 
times, and Russia in modern times, had to be prepared to establish 
total military self-sufficiency. 
     Hydsos entered the Delta regions of Egypt establishing total 
military supremacy through the use of horse and chariot, previously 
unknown in Egypt. The evidences of the Ugarit and Alalakh tablets 
indicating semi-mass production in these areas of chariot parts and 
arms of various kinds cannot but suggest that it was from this region 
that money power armed those restless people that may have inundated 
Crete in earlier times and Egypt somewhat later. 
     The persistence of the thrust of Tahutmes III into these regions 
would indicate no idle pointless advance but definite design towards 
destroying the heart of the enemy, the elimination of his financial 
and industrial centers. 
Page 37
     However, that both sides had equal access to the international 
arms industry would be indicated by the spoil as won by Tahutmes 
against the King of Kadesh amounting to 924 chariots and 200 suits of 
     It is very doubtful Tahutmes would have moved abroad without 
careful organization and planning. To build his 1000 chariots was 
needed the wood of Lebanon and Syria, the craftsmanship of Ugarit and 
financial and industrial organization. 
Page 38
     Thus it would appear that money creative power had definitely 
re-established some form of agency in Egypt. In agreement between 
Tahutmes and Tyre demonstrates concessions made to traders in order to 
obtain the sea-power which he so much needed for the success of his 
campaign against Kadesh. The fact of gold and silver rings circulating 
in Egypt indicates the nature of his concessions to that money 
creative force which undoubtedly drove the world-wide trade of the 
Phoenician cities. The gifts in silver bullion from the Hittites 
indicate that they knew that which would be most welcome to the 
     By the time of Rameses III (1198-1167 B.C.), the true force 
behind kingly rule had long ago been gathered up by those promoting 
the conception of private ownership derived from that right these 
persons had already arrogated to themselves to create and manipulate 
the monetary unit, tangible or abstract. 
Page 39
     International money power of the day deemed it safe to locate its 
most important industry, armaments, in the land of  Egypt. 
     Ancient ways and morale gave way to foreign influences and self-
immolation that always seems to follow the advent of the penetration 
of international money creative force. Such money creative force and 
its key arms manufacturies so much needed by the war powers would 
always continue to maintain itself, come what may. Possibly its 
heartland was some area such as Switzerland today, that by tacit 
consent of all powers remained neutral in all this strife and whose 
neutrality would always be respected by the armed force of each of the 
struggling states. 
Page 40
     Money power in control of the movements of bullion 
internationally, safe behind this shield of neutrality as designers of 
the international money market, would  be able to continue to 
manipulate war industries; always remaining in a position to allocate 
the latest of weapons to those states which offered them the best 
advantage in respect to their particular affair. The rulers of Egypt 
after Tahutmes, although probably completely unaware of the extent of 
the power of this same international force, obviously needed its good 
graces when it came to obtaining those materials and weapons so 
necessary for what in that time was modern warfare. It was not long 
before international power penetrated the substructure of Egyptian 
life and established its usual behind-the-scenes influence, if not 
control, in much the same way as when the stone weights of the 6th 
Dynasty indicating equivalence in metal money circulated in much the 
same way as the clay facsimiles or as the paper notes of today that 
formerly indicated a claim on precious metal. Further indication of 
the activities of private money creative force in this same period 
exists in the evidence of an extensive world-wide trade on land and 
Page 41
     The military might of those grim warriors of Mycenae continued to 
grow and they clearly could be relied on to supply the master moneyers 
with gold and silver and slaves. Therein these robber rulers, best 
known from the Homeric sagas, were but the instruments by which the 
mysterious worshipers of the anti-god, the controllers of the 
extensive money creative force, unseen, but all-seeing, slowly 
undermined the walls of the temple states of the ancient world so 
finally and completely that little memory or record existed. 
     What, therefore, did the international money creative fraternity 
of that day need from those states that clearly forbade their trade or 
settlement as corrupters of all true order and peace in life and that 
thus rejected their blandishments?
Page 42
     What other than the plunder out of sack and ruin by those wildmen 
they brought in from distant lands to North and to South. And to whom 
they offered the women, gardens, gold and the silver; which of course 
would soon be theirs in any case. 
     Of all those cities and states without number and many without 
name, why they disappeared, or when, is not known; nor the story of 
the ending. For as at Pylos and Ugarit too, in so many cases, the 
flames were the final gesture of fate which made durable the clay 
libraries and archives. 
     It is clear that the organization of all those Western and 
Northern peoples in confederation against Egypt's Pharaoh Merneptah 
(1236 B.C.) was not of haphazard design. All these nations known as 
"The Peoples of the Sea" could not have been brought together together 
as a fairly disciplined group without some more internationally wise 
advisors. Whether Egypt fell or the confederate host fell, either way 
was profit to the international bullion traders whose agents would 
have equally followed Egyptian or confederate. 
     After his victory, Merneptah almost immediately turned his 
attention to the peoples of the East. He paid special attention to an 
Israel never previously referred to in Egyptian history. 
Page 43
     But who was who, or why, or what, little concerned that brain 
center in Babylon or Ur or wherever it was. Out of death and 
destruction was their harvest. The only reality was control of 
precious metal. Out of death and destruction came the releasing of the 
all important hoards of stored bullion and the renewal of the slave 
herds to be consumed in mining ventures in distant places, garnering 
the increase of such precious metals. 
     (Diodorus Siculus (A. Del Mar: A History of Precious Metals) 
gives a striking picture of the horrors of marginal profit gold mining 
as carried out with slave labor in ancient times in the Nubia in 
     "There are thus infinite numbers thrown into these mines, all 
bound in fetters, kept a work night and day, and so strictly 
surrounded that there is no possibility of their effecting an escape. 
They are guarded by mercenary soldiers of various barbarous nations, 
whose language is foreign to them and to each other, so that there are 
no means of forming conspiracies or of corrupting those who are set to 
watch them. They are kept at incessant work by the rod of the overseer 
who often lashes them severely. Not the least care is taken of the 
bodies of these poor creatures; they have not a rag to cover their 
nakedness; and whoever sees them must compassionate their melancholy 
and deplorable condition, for though they may be sick maimed or lame, 
no rest nor any intermission of labor is allowed them. Neither the 
weakness of old age nor the infirmities of females excuse any from the 
work, to which all are driven by blows and cudgels; until borne down 
by the intolerable weight of their misery, many fall dead in the midst 
of their insufferable labors. Deprived of all hope, these miserable 
creatures expect each day to be worse than the last and long for death 
to end their sufferings.")
     Further, as kingly rule weakened, with the increasingly 
circulation of fraudulent receipts for precious metals supposedly on 
deposit, this highly secretive interstratum of merchant classes 
controlled by these monopolists of money through monopoly of control 
of precious metal bullion would be able to finance much larger 
manufacturing systems than had been possible from the highly 
discriminating temple loans of earlier days.
Page 45
     While the purpose of the temple was to cause the people to live 
godly lives, the secret and private money creative power, being more 
concerned with the opposite, the needs of the anti-god, the 
destruction of the peoples lives, loaned without such 
discrimination. Out of the resulting confusion amongst rulers could 
come nothing but advantage to themselves and their purposes; out of 
the break up of family and home and tradition would come an exhausted 
and confused people, more ready to accept slavery. Corruption of the 
priesthood, as in today, was the chief aim of the money conspiracy.   
     The international bullion controllers needed the connivance of 
those corrupted temple officials who had lost sight of the meaning of 
the god-given power of money creation which had been theirs. By the
time these temple officials were brought to enter into such 
connivance, they would be past realizing or caring about the 
destructive effects of their powers and purposes which lay in so 
permitting private issuance of money amongst the people by way of 
precious metals or receipts for such metals supposedly on deposit. 
Page 46
     With the growth of exchanges to a silver standard as would derive 
from the circulation of false receipts issued against silver on 
deposit, these men, controllers of bullion movements internationally, 
and of almost equal consequence, the slave trade, now that their 
knowledge of the frauds relating to the use of precious metal money 
and their knowledge of that which is now known as "capital" was 
becoming perfected, were bringing into being extensive private 
industries, the most important of which relating to war. 
     Those receipts representing the weight of silver which circulated 
by custom or by law, as money, while accepted as money, were money. 
Their cost to the money manipulators, bullion brokers, being but that 
of the clay in the tablet and the scribes entry thereon. 
     After the final triumph of the international money creative 
fraternity which may be identified in Mesopotamia with that period of 
conquest, reconquest, and conquest again that began with that invasion 
of Sumeria by the Gutim in 2270 B.C. and ended with the collapse of 
the Empire of Ur in 2020 B.C., those agents of International Money 
Power quickly concluded the work of destruction through liberalism and 
permissiveness so that by 1900 B.C. the Sumerian had totally lost his 
national and racial identity with no special allegiance to anything 
other than "money." 
Page 47
     Such agents are shown by the general evidence of history to be a 
class of dubious origins. These rascals who are raised up in a time of 
national exhaustion by a triumphant money power, too often are 
distinguished by a readiness to please those who it seems to them are 
the masters. 
     The growing manufacturies of Mesopotamia, Syria, Egypt, were 
instigated as a result of those secret money creative processes known 
only to that class of persons controlling external trade.
Page 48
     By the time of the Assyrian conquest during the first half of the 
first Millennium B.C., money, as being the creation of the god of the 
city toward the well-being and good life of his people, had become 
silver injected into circulation by private persons who, by then, 
through manipulation of that inverted pyramid of ledger credit page 
entry money erected on the silver they claimed to hold in reserve, as 
apex, had now completely usurped the essential power of the temple: 
the creation and allocation of the unit of exchange. The power of 
rejection or preferment formerly exercised through the king and 
priesthood fell into their hands, and where in earlier days a devoted 
king exercised its preferment through money creation towards the 
people's well-being, those international forces that now exercised the 
reality of such rule from the counting houses, contemptuous of all 
kingly and godly power as they were, but still needing such power as 
front behind which they might shelter in order to better pursue their 
nefarious purposes, spread hate and suspicion, each man of his 
Page 49
     Secretly promoting the concept of "Permanent Revolution" as being 
most suited toward the maintenance of their control, no sooner did 
stable government come again then, feverishly digging at its roots, 
they tore it down. Out of the break-up of family and home, they 
throve. He who was consumed with animal desires and ignobility of 
purpose was their man and eagerly their slave, and willing betrayer of 
his brethren into what was planned for them by his master. 
     Even though certain priesthood continued to maintain vigorous 
temple organizations long after the international control came about, 
such organizations continued to exist only on account of their 
deference to these new controllers of international exchanges. In a 
similar manner did the Egyptian priesthood defer to the power of 
Joseph as Vizier of the Pharaoh. For Joseph was clearly an agent of an 
external Money Power and while the Pharaoh leaned on him, he and that 
force behind him were clearly the rulers, de facto if not de jure, 
they were in the place of the Pharaoh. 

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