THE BABYLONIAN WOE Preface Analysis 
by John C. Turmel, B. Eng. (Banking Systems Engineering) 
- More complete text has been previously posted and only minimal text 
with indented Commentary and preceded by JCT: is offered here
- Prerequisite
* Turmel analysis has indented paragraphs, Astle's text does not. 
* R&R = Rothschilds and Rockefellers
(Inside Front cover)
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
     JCT: The true importance of this book is in detailing how a small 
secret group of bankers operated a fractional reserve banking system 
many thousands of years ago and how the use of such system could 
enslave the whole world in unpayable debt as it does today.  
In this scholarly work, David Astle 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 
     JCT: And the amazing part is that today's high-technology mankind 
remains as duped as was the low-technology mankind of yesteryear. 
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.
     JCT: It is also quite unique in that it is the only Monetary 
textbook which refers to interest-free banking systems. Though we have 
today thousands of examples of interest-free LETS (Local Employment-
Trading System) and Timedollar or Hour currencies, this information 
has been completely erased from all Economics curricula in general. 
This does not seem to have been an accidental omission.   
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.
     JCT: With over 130 books in reference, it truly is an astounding 
investigative work on a topic which has had virtually every reference 
to it erased from our memories. 
(Page ii)
"The intellectual faculties however are not of themselves sufficient 
to produce external action; they require the aid of physical force, 
IS SET IN MOTION." Augustus Boeckh; translated; The Public Economy of 
Athens, p7; Book I, London, 1828
     JCT: It is true that rarely is anything accomplished in today's 
world unless the financing has been arranged. To those with the power 
to approve or disapprove the financing is a power which Astle argues 
should be in the hands of the rulers, not private bankers. 
(Page v)
Alas! Our Gods are gone forever! So
Who then shall fight the Babylonian Woe. 
     JCT: Interestingly enough, the computer revolution will 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.
     JCT: The Bible contains many statements of great understanding of 
monetary mechanics and will be often be referred by Astle and by 
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. 
     JCT: When I originally approached my study of money, I already 
had an understanding of casino banking whose poker chips are a perfect 
interest-free currency model to which I will refer on a constant 
basis. Anyone who has difficulty in understanding how interest-free 
banking works need only obtain a bank of poker chips and contemplate 
how they work. 
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.
   JCT: The situation is just as if future historians, upon studying 
today's economy, found that there were no "economics" textbooks 
explaining how banking worked. Considering how many such textbooks 
there are, they would also find it quite mystifying. They might also 
conclude, once the nature of the control on human activities inherent 
in the banking system is understood, that such omission is not 
accidental but has a wholly malevolent purpose. 
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. 
     JCT: This law of surpluses must be emphasized in that it is with 
respect to "abundance" that Christ defines both the usury banking 
system and the Christian usury-free LETS banking system. 
     LETS: "Your abundance should at the present be a supply for their 
want so that later, their abundance may be a supply for your want and 
in that way, he who gathers much doesn't have too much and he who 
gathers little doesn't have too little." 
     Usury: "To him who has abundance will more be given and from him 
who has no abundance, even what he has will be taken away" and in that 
way, he who gathers much gets even more and he who gathers little has 
it taken away until he starves to death. As is done today.  
     That Astle has also identified the banking system in relation to 
the allocation of surpluses as Christ identified it in relation to the 
allocation of abundance is an indication that they were both on the 
right track. 
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. 
     JCT: It is true that no civilization can arise without a medium 
of exchange to facilitate the specialization of labor. Without a 
money, everyone has to do everything for themselves and the increment 
of association by specialization cannot be earned. 
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...  
     JCT: Imagine, absolutely nothing on the controlling system of 
human activity for it is through money that all human endeavor is  
guided. Because bankers allocate new credit to war industries instead 
of productive industries is the main reason mankind has spent so much 
time at war rather that at production. Man works for a paycheck and if 
the only industries a banker will allocate credit to is a war 
industry and not a productive one, then it can truly be said that 
bankers steered those paychecks to warriors rather than producers. 
Bankers and their control and allocation of credit can be held 
responsible for the state of the world as it is and as it has always  
been which is the prime reason Christ attacked the money-lenders in 
the temple and Mohammed pledged war against the bankers from God and 
his prophet. 
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. 
     JCT: It's not so mystifying once one understands how the control 
of the allocation of credit controls all the endeavors of mankind. It 
you were a banker, would you really want the world to realize that it 
was your decision to refuse to fund food production with new money 
during the Great Depression as it was your decision to fund arms 
production with new money during World War Two? Once it is understood 
how the control of allocation of credit rules mankind's endeavor, then 
the blame for the direction of such endeavor can be laid at the 
doorstep of those controllers and the hundreds of millions of deaths 
from their decisions are a natural consequence of such understanding. 
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. 
     JCT: It is quite amazing to think that the mechanics of a control 
system that has been in operation for thousands of years can be so 
misunderstood today. I often sit back and marvel that our high-
technology world can still be caught up in the throes of an 
enslavement trick developed thousands of years in the past. It's 
almost surreal how today's politicians can inflict death by poverty on 
their populations without realizing the insanity of it all. 
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. 
     JCT: It should also be just as clear that Christ's two laws 
dealing with abundance relate to maintaining the true and natural 
order of life versus the unnatural order of death inherent in the 
mort-gage death-gamble usury banking system. 
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.)
     JCT: I can't believe that the omission of all historical examples 
of interest-free banking such as the Roman Aes Grave copper currency, 
the English Tally wooden currency, the North American Indian Wampum 
bead currency, Colonial "Continental" and Lincoln's "Greenback" paper 
currencies has been accidental. Not only is the omission a great 
indictment but the misrepresentation of the latter two systems is 
indeed a great temptation to arrive at the conclusion that a special  
conspiracy of not only silence but also misrepresentation exists. 
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.
     JCT: Perhaps these scholars do have such an excuse but the fact 
that even the Bible has been altered to dilute its anti-interest 
messages is an even greater indictment of a conscious conspiracy to 
enslave humankind with exponential debt. 
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. 
     JCT: And even Economics textbooks of modern times which examine 
the significance of  money and finance relative to progress have their 
facts wrong, though considering discussions on sci.econ, there is a 
good chance such authors can be counted among those fooled rather than 
among those doing the fooling. 
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. 
     JCT: With almost no correct speculation in regards to the 
unprejudiced philosophy of money in recent 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. 
     JCT: The fact that Wampum and LETSystems allow for the creation 
of money by private persons as opposed to the issuance by governments 
has proven not to be a problem. The actual problem is when a 
restricted number of private persons are given a monopoly on such 
creation and who may then loanshark the funds back to the government 
which has licensed them them to create and issue such money at 
interest do the real problems arise. 
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. 
     JCT: Yet, information is still around about King Henry I's Tally 
system though no attempt has been made to explain how it functioned to 
provide a comfortable standard of living for the early English who 
needed only spend half their year securing their livelihood with 
the other half devoted to holidays, festivals and constructing palaces 
and cathedrals. 
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. 
     JCT: Just as very little is known of the true nature of 
those forces which inject money into circulation today. I had a recent 
debate titled "The Essence of Money" where economists argued that they 
could create new money with a piggy bank which, when considered more 
fully without a source or sink, is quite silly. And yet, Economics 
professors admitted that they taught their students that money was 
created with a piggy bank model of the banking system. It was only 
after major debate that one finally admitted that money was actually 
created with a LETS casino-style creationary bank with both a source 
and a sink. Though I'd bet that lesson has already been forgotten by  
most since a man convinced against his will is a man unconvinced 
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.
     JCT: This is another relation which necessarily explains how the 
international could have instigated world wars with the deaths of 
millions for profit. They descend from the same moneylending 
fraternity who worked their slaves to death on galleys and in mines 
and there's no reason to believe that their utter lack of respect for 
human life should have changed in recent centuries though the hundreds 
of millions killed by war and poverty in just this recent twentieth 
century has certainly added to the indictment of their activities in 
an exponential fashion. 
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. 
     JCT: It must be noted that when the Ziggurat operated like a 
casino cashier in accepting surpluses in exchange for tokens worth the 
collateral pledged that things worked fine. 
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 itself.   
     JCT: How they could be tricked into accepting silver and gold as 
the basis for their chips and forgetting how clay chips worked is one 
of the truly amazing scams of history. 
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...  
     JCT: It would be just the same as if Ceasar's Palace or the Taj 
Mahal casinos could be tricked into using bullion for their chips so 
that those who controlled the bullion supply could control how many 
chips were available for use in those casinos and thus control the 
volume of economic activity. It would have to be a pretty stupid 
casino owner who could fall for such a trick though there seems to 
have no short supply of kings and government officials.  
It is true that while no single feature in the progression of history 
might be regarded as basic and decisive, it is 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. 
     JCT: All we have to do is look around us today and contemplate 
how much violence and crime can be attributed to those infamous words 
"I did it for the money" to understand how a great army could not be 
more efficient in its destruction of civilization than a money kept in 
short supply. 
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. 
     JCT: And he who controls the purse controls the king. 
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...
     JCT: Again, I don't mind private money creation and emission as 
demonstrated by LETS and Wampum currency systems. It's a "Monopoly of 
Credit" in the hands of irresponsible persons which is the problem, 
accentuated by usury on the credit. 
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. 
     JCT: I think that physical attack by Christ on the bankers in the 
temple may be an indication that he considered as wholly malevolent as 
David Astle does since they were financing wars then as they still do 
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.
     JCT: Yes, with ecological catastrophe looming, with extinction of  
species all around us, mankind seems hell-bent on a destruction it 
seems cannot be averted. Yet, I know that all it takes is a simple 
upgrading of the world banking system software to LETS to divert all 
of mankind's efforts from useless destruction to useful construction 
and hopefully sufficient to save the day. True, there may already be 
so many chemicals in the atmosphere that the ozone layer will still 
end up destroyed or toxic and nuclear wastes are already too 
widespread for us to survive but like the good bridge player who plans 
his play around a successful finesse of the King in front of his Ace-
Queen, if the King is off-side and behind the tenace, then there was 
nothing that could be done anyway. So one must assume that it is on-
side and plan the play accordingly. Similarly, one must assume that 
we are not past the point of no return and a reprogramming of the 
banks' central computers can divert sufficient manpower from 
destruction to production to save the day. 
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. 
     JCT: As they can once again be the creators and controllers of 
economic good if we can but take away the power of the banks to 
control currency emission to fund war and not production and return 
such control to our rulers to fund production and not war. 
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 
     JCT: And of course, with governments still being the mouthpiece 
and sword arm of those same semi-secret banking societies today. 
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. 
     JCT: And is it no wonder that these banker slave-drivers still 
use the same techniques to control their slaves today. They are still 
quite successful at to keep us slaves poor, sick, and fighting among 
ourselves. How else to explain laws which permit usury to keep us 
poor, promote tobacco processed foods to keep us sick, promote alcohol 
and deter hemp to keep us fighting rather than jolly and content. 
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. 
     JCT: And even though the metallic base for money has now been 
eliminated, they still manage to keep people convince that just 
as there was never enough gold and silver to go around, there is a 
similar shortage of computer blips to go around. 
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. 
     JCT: And exactly the same thing still applies today. The 
same banking fraternity rule our high-tech world as the ruled ancient 
low-tech world though the chances of reform which were non-existent 
then are now as great as simply switching the programs on their 
central computers. Never in the history of mankind has there been such 
potential for the throwing off of our debt chains, a last opportunity 
mankind should grasp at as a drowning man would grasp at any straw. 
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 
     JCT: And a Hell for which they will be held accountable if not 
punished after the day of Amnesty, Anonymity and financial Security 
that is on the horizon. 
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.) 
     JCT: What's interesting is that people can readily admit that 
some deranged German painter sitting in his attic can dream of world 
conquest but absolutely refuse to even consider that men with the 
financial machinery at their disposal might be considering or even 
doing the same thing. 
     Those who believe that bankers use the money system for their 
benefit to the detriment of everyone else are often disdainfully 
called "conspiracy theorists" while I would call those who do not hold 
such views as "accidentalist theorists" for their belief that the 
world is in its present deplorable condition accidentally. 
     I think that these studies of David Astle's and Carroll Quigley's 
works, from the points of view of both banking conspiracy critic and 
banking conspiracy enthusiast, will lead us to only one conclusion, 
that manipulation of the money system permits levers of control over  
all economic activity and that such levers have been consciously 
manipulated by rich men for their own benefit and the detriment of all 
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. 
     JCT: Of course, their own national exchanges worked best when 
their currency units were based on a measure of time at labor or a 
measure of barley or even a cow. Astle does allow that falling into 
the error of using gold and silver was a natural one and people can be 
no more condemned for failing to understand the nature of money in 
those days as they fail understand it today. 
     It might be equivalent to LETSystem members starting to use 
another systems gold tokens without realizing that giving up the use 
of their own tokens puts them at the mercy of the issuers of gold 
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. 
     JCT: How true. The same control gold bullion brokers exercised 
millennia ago was also exercised in recent centuries too even though 
we have just lately ended our link to metallic base tokens. 
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. 
     JCT: I'm sure kings were as useful as fronts to take the heat 
from oppressed debtors in olden days as governments are today. In 
Quigley's book, we see over and over how governments promote policies 
which benefit the rich to the detriment of the poor and end up 
fighting their strikes and the revolutions when the poor can't take 
the starvation as quietly as the bankers would like them to. 
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. 
     JCT: It's true. In French, the word for money is "argent," which 
is "silver." And even though none of us actually is paid in argent, 
future historians reading about us being paid in "argent" might come 
to the false conclusion that we were paid in actual silver, like we 
might come to false conclusion that they were paid in ancient days 
with actual silver. No matter that payment in actual silver was a real  
(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. 
     JCT: When he keeps talking about a corruptible priesthood, our 
modern day equivalent has to be Economics faculties, the only 
difference being that they weren't corrupted as more brainwashed. Most 
economists sincerely believe the false engineering analysis they have 
been taught as my debates which Prof. Flaherty show quite 
conclusively. No one can attribute his ever present contradictions to 
anything other than irrationality, not corruption. 
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."
     JCT: So they had modern day banking thousands of years ago. 
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. 
     JCT: This is the standard story of the goldsmith which even Dr. 
Quigley cites to explain the rise of fractional reserve banking. I 
won't go into it here since we will go into it later though I'd expect 
most people to already know this story.
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.)
     JCT: You will find many historians who claim that modern day 
banking was invented centuries ago by merchants in Venice or by the 
Bank of England when it seems pretty clear that it was invented 
millennia ago. 
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 
     JCT: So the manipulation of credits were also similar in those 
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. 
     JCT: This is an important point. Just as the Rothschild brother 
in London financed English war expenses, and the Rothschild brother in 
Paris financed the French war expenses, and the Rothschild brother in 
Frankfurt financed the German war expenses, and the Rothschild brother 
in Italy financed their war expenses, all the in the name of national 
support, the point is that they always financed both sides of most 
wars and stood to profit no matter who won. So it makes sense that 
fomenting wars was very profitable and the idea of preventing war and  
their expenses was quite unlikely. 
     Of the two families, the Rothschilds are responsible for far many 
more hundreds of dead millions than the Rockefellers though the 
Rothschilds have certainly collaborated in the genocide of the 
millions the Rockefellers are responsible for. 
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. 
     JCT: Neat, eh? People actually would pay same interest to borrow 
paper promises of gold as they would to borrow the actual gold. What a 
wonderful scam if it weren't for all the victimized corpses at the end 
of the habitual famines.
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. 
     JCT: Of course, scholars may have spent some attention to this 
information but, just like the erasure of inconvenient facts in George 
Orwell's 1984, most of it has probably been erased from our history 
books. That such deletions are not accidental can be perceived by the 
virtually complete omission of any reference to interest-free banking 
systems from all Economics curricula. Though interest-free systems 
were used by Sparta, Rome, England, early American indians and 
Lincoln, there is a total void in all economic histories which I do 
not find mystifying. If you're going to enslave a whole world with 
exponential debt, the last thing you want to do is have them learn 
about history's successful interest-free systems. 
     It's the reason I promoted LETS Local Employment-Trading System 
currencies as local models for our perusal. That some people have 
concluded that they must remain local in order to work though there is 
no theoretical limit to the number of accounts in the database, is one 
of the saddest results of having promoted smaller models. 
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 
     JCT: So they really frowned on fractional reserve banking, 
the lending out of gold they didn't have. Actually, there's nothing 
wrong with lending out gold you don't have as long as you don't charge 
interest for it. Every LETSystem creates new money or new gold every 
time someone overdraws their account with no ill effects. Of course, 
making people believe they were borrowing gold was the rational for 
the charging of interest but without such interest, LETS does show 
that there are no ill effects which would necessitate such laws. 
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. 
     JCT: And of course, we'll see how the Bank of England crucified 
the English on a cross of gold in Quigley's texts. It's quite safe to 
say that the current string of British rulers are the same fools who 
have committed their nation's finances to private money creative 
power. I think it's fair to say that the debasement of their reigns 
correlates quite closely with the debasement of their currencies. Why 
not lose respect for the monarch just as we lose respect for the coin 
with her picture on it? Sure she might be a nice lady but she's still 
an incompetent ruler as the debasement of her currency would show. 
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. 
     JCT: I guess David Astle finds the fact that bankers can create 
costless credit out of thin air and lend it out at interest is as 
amazing a scam I find it. Of course, it's not the fault of the 
intellectually slow or uneducated to have been fooled but what's the 
excuse going to be for the intellectually quick or educated portion of 
the population? 
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. 
     JCT: But look at any of today's governments and you'll see that  
they're full of self-serving jackasses. Won't they look stupid once 
Global LETS has been installed and their money madness finally 
exposed. My favorite government jackass is Mike Harris, a former 
golfer who made Ontario Prime Minister, who successfully cut life-
support tickets to the poor until they homeless were dying right 
outside his office. Of course he has committed genocide by poverty of 
many Ontario citizens and yet there's not 1% of the population who see 
it as more than a necessary financial evil. 
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. 
     JCT: Wasn't it one of the Rothschilds who said "Let me control 
the creation of the money and I care not who makes its laws." Sounds 
like the same kind of contempt for rulers that, quite frankly, such 
subservient rulers, deserve. I know I feel a contempt for my Queen who 
has allowed her currency to be debased by these kinds of monsters. 
It's pretty tough not to when you understand how they control her. 
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... 
     JCT: That's why all civilizations that rise up are eventually 
thrown down by these same bullion brokers once they kings have fallen 
for the metallic money trick. The fact they use the same money trick 
to rule in the same way today states volumes about the lack of 
understanding of rulers, then and now. 
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 
     JCT: We'll find history is full of examples of rulers fighting 
the moneylenders and usually losing to them. That's why the odd win on 
the part of wise rulers is of such interest and also why the 
moneylenders who control the publishing houses try to erase every 
mention of such free money-systems as described by George Orwell in 
1984. It's no accident that every mention of the many interest-free 
banking systems throughout history have been shoved down the memory 
hole so that no economist has ever even heard about them. And after 
their conditioning, they rebel at even the thought of zero interest. 
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. 
     JCT: So the moneylenders had no respect for the rulers then just 
as they have the same contempt for them today. 
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. 
     JCT: Makes sense. Can you imagine some ordinary thief wandering 
around with the King's Royal Golden Scepter looking for a fence to 
take it off his hands? Not likely. Of course, guys with the know-how 
to melt it down and move it out of town or introduce it through their 
bank branches would have a great advantage. 
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. 
     JCT: Religious laws probably had as much influence then as they 
do today. Most of old Torah law condemns interest but 99% of all Jews 
don't obey. Most of old Koran law condemns interest but 99% of all 
Muslims don't obey. Much of Christian law condemns interest but 99% of 
all Christians don't obey. So how much influence would religious law 
have in those days either. 
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. 
     JCT: But let's give credit to King Henry I of England who created 
the very first totally uncounterfeitable royal currency, tallies. 
Still, if a temple were running their local currency a la LETS, then 
there would have been little incentive to counterfeit by the citizenry 
though you can bet the international moneylenders wouldn't have been 
so constrained. 
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. 
     JCT: Cute. "if later they came to forget them." I think it was 
more a case of having it erased from their books of knowledge just as 
it's been erased today. You have to marvel at the ability of the 
moneylenders to have erased every mention of interest-free money from 
all orthodox Economics textbooks. That's probably the greatest 
travesty of education ever inflicted on mankind. 
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. 
     JCT: So money may have been understood and used properly 23,000 
years ago. I always marvel that our civilization with its amazing 
level of technical sophistication could still be tricked by an ages 
old scam whose irrational nature, the attempt to repay more than was 
originally printed, seems to elude most of its conditionees. 
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 
     JCT: If you read about how the Rothschilds controlled governments 
a couple of hundred years ago, you'd see that nothing really changed. 
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. 
     JCT: After running in a record number of elections, I've often 
asked out loud why my opponents are running when they don't have any 
solutions. It can only be for self-interest since it's not for the 
public's interest. 
Thus the cities that rose out of the industrial awakening of Greece 
had all the appurtenances of the sacred city state of more ancient 
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. 
     JCT: It's sad to say that most of the rulers of today are nothing 
but Judas goats leading their peoples to financial slaughter and debt 
slavery. I just hope God's got a fitting punishment for them when they 
get to the other side. I wonder what kind of punishment he's got for 
the Rothschilds and Rockefellers responsible for it all. 
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. 
     JCT: Much as the British Queen or the American presidency are 
merely fronts for that same secret fraternity. 
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.)
     JCT: I guess they were much like all the useless mountains of 
Switzerland today. Nothing much going there other than being a haven 
for usurers. 
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 
     JCT: Of course, it's not quite as secret today where bankers get 
together at large conferences to dictate terms to governments every 
year. Though nations may claim sovereignty, they are all on their 
knees at meetings of the World Bank and International Monetary Fund. 
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. 
     JCT: It's true. Most people can't believe that there may be a 
cabal of billionaires who have planned their enslavement through the 
debt created by the money system. They can't believe that people with 
all they could possibly want to simply to crush them down. That's 
what's the very worst. Though 200 years ago, they could have excused 
their usury as taking care of their own in a world of scarcity. It's 
the fact that we've been in a world of abundance for the past 100 
years that makes their crime all the worse and indefensible. 
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 
     JCT: What's amazing is that until very recently, bankers would 
not even admit that they were lending out new money. Many bankers and 
economists today, as witnessed by Dr. Flaherty and Simms, still won't 
admit that it's new money and not depositors' funds. They've got the 
piggy bank model so ingrained in their minds that they never notice 
that piggy banks don't have a source from which this new money comes 
from. I hope many of you have been amused by the mass of  
contradictions we've witnessed, usually within the same paragraph. I 
reread Flaherty's beauties on a regular basis. I should make a comedy 
routine out of it by enlarging Fig 2 and Fig 3 and then reading his 
contradictions and pointing out that the pipe is connected here, then 
there, then here again, then there, etc. 
     I'm just happy that these tracts are available for historians of 
posterity to give them an idea of how difficult it is to explain how 
money works to a bunch of financially insane individuals in charge. 
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. 
     JCT: And why not when credit is a perfect currency? As long as 
the users realize they are borrowing credit and not the gold it 
happens to be wearing when it's issued. But if it can keep Ph.D.s in 
Economics confused even today, how could we expect anyone ordinary to 
beat the brainwashing. That what makes Christ, Isaiah, Ezekiel, 
Mohammed and the other Abolitionist saints so special, they broke 
their conditioning that billions of others have never been able to. 
After all, when it came to an interest-free world, Christ did say that 
"many saints and great men have longed to see what you have seen but 
have not." It's just amazing how Christ's message changes when you 
realize that his good news for the poor is a "no-interest" world. 
     Actually, ask any Christian minister "What's Christ's good news 
for the poor?" and they won't have any unless it involves giving them 
money to make you feel good. 
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. 
     JCT: And yet, most economists on sci.econ think that the 
fractional reserve system is a new development while Astle makes a 
pretty good argument that it's been in operation for thousands of 
years. One has to wonder why all the secrecy all these years so that 
even its teachers of economics don't know anything about its history. 
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. 
     JCT: It is amazing when you think about it. They didn't even need 
to have any gold at all as long as the units were denominated in gold. 
One of the best stories ever written was Salvation Island by Quebec 
Socred Louis Even telling the stories about a group of shipwreck 
survivors who are taken in by a banker who fleeces them for the 
interest by setting up a credit money system based on his "chest" full 
of gold. It all worked fine other than the interest owed even though 
he didn't have any gold at all. It demonstrates how a pure credit 
system works fine, again except for the interest. Had Oliver the 
banker charged them a service charge, he wouldn't have had to 
foreclosed on them all and eventually be ejected from the island by 
the brute force of the majority. 
     That's the problem though with Social Credit. Though Louis Even 
himself knew that brute force was never the solution to oust the guys 
who own the arms industries and finance the armies and ran for 
political office himself, most Socreds decry trying to use the 
political system to throw off their yoke of slavery leaving them only 
with brute force or empty talk. Given they could never use brute 
force, it explains their history of total non-success. 
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. 
     JCT: Same goes for today. 
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. 
     JCT: What? International bankers tied in together thousands of 
years ago? Even with their own Switzerland to hide out in? Of course. 
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. 
     JCT: Like the Rothschilds and Rockefellers of today? 
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 
     JCT: You have to admit that shipping out 10,000 slaves in one day 
had to take a lot of logistical organization. Imagine shipping out 
10,000 slaves from any city today. They'd need 250 buses. Anyway, the 
men who could do this to a small world of yesteryear have relatives 
doing it to us today, the only difference being that they can't work 
us to death like they used to in silver mines and galley ships though 
there's still a mess of genocide they'll have to answer to someday. 
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 
     JCT: The fruits of Rothschilds' and Rockefellers' labors are just 
as ugly and murderous today. 
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. 
     JCT: The same as the amount of gold in yesteryear. The bulk of 
money is actually credit and almost always has been. As he points out, 
6000 talents certainly wasn't enough to run their civilization but 
could certainly act as base for the credit creation. 
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. 
     JCT: So a treasure of only 6000 talents was certainly 
insufficient to run their world. They had to have used credit based on 
that 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. 
     JCT: I don't think we can argue with his conclusion. They had to 
have used credit for the bulk of their money. 
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!
     JCT: Again, good point. It was the same scam then as it is today. 
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. 
     JCT: Of course, people who think Economics makes sense won't have 
any clue about what these scholars and Astle are talking about though 
they make eminent sense to anyone who understands how the real credit 
based on metal works. I only hope that those who still harbor some 
confusion will get a clearer picture of the workings of the system by 
the time we've finished examining Astle and Quigley's works.

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