As we are learning about this family together, I have included a few things that I’ve found interesting.
Mayer Amschel Bauer/Rothschild (1744- 1812) lived in Frankfurt, Germany and had 5 sons:
Amschel Mayer- remained in Frankfurt
Solomon- went to Vienna
Nathan- went to London at 21 (1798) about 100 years after the Bank of England was founded
Carl- went to Naples
James/Jacob- went to Paris
*By 1850 James (Jacob) was worth 600,000 french francs, 150,000 more than all other French bankers combined*
By the mid 1800’s the Rothschild family dominated European Banking, utilizing fractional reserve banking.
(lending out substantially more than what you have in your vaults)
1600’s- England was in dire debt, due to 50 yrs of war with Holland and France. England’s politicians begged the money changers for loans. They obliged, but in return the money changers (hem hem) wanted to establish a private bank backed by the government.
July 27, 1694 -The Bank of England, the second private central bank was born.
(The first privately owned central bank is Bank of Amsterdam)
Secret investors bought 1.25 million pounds worth of shares
The Bank of England could legally print money out of thin air (must be nice)
So, the English government (politicians) could borrow as much as it wanted -as long as it secured the loans with direct taxation of the citizens.
Since the Bank of England was printing money that was not backed up by any gold, essentially it was legally counterfeiting the national currency to benefit the individuals who owned the bank.
1. Nation sells bonds to central bank to fund things citizens don’t consent to pay for through taxes.
2. The central bank prints more notes to give to the government
3. Therefore, the government gets to spend as much as it wants
4. Due to the central bank printing more money for the government, the money in circulation is subsequently worth less.