Jonathan May formerly worked for the International Monetary Fund in England. In the early 1980s he came to America with a plan to release Americans from debt to the banking system by employing the same "credit creating" system used by international banking. The law governing this system is the Uniform Commercial Code (UCC). May was initially successful. Eventually, however, he was targeted and imprisoned by the banking system. He is now in a Federal prison in the mid-west. While in prison he was interviewed by Lindsey Williams via phone. The following is the text of that interview.
"There are thirteen families which effectively control the central banks of the hard currency countries of the world. The hard currency countries are those whose currency is not allowed to fluctuate as much as the other countries' currency fluctuates. These thirteen families have the control of the policy-making and decision-making of the central banks of those countries. They all practice fractional reserve banking.
Fractional reserve banking has allowed the central banks to permit the prime banks to lend up to twenty-six units of currency for every one unit of currency they have on deposit. The owners and controllers of the prime banks are the same people who own and control the central banks. The initial final stage of System 2000 was put into effect in the mid-seventies. System 2000 is the global creditors unilateral totalitarian plan for the control of the world.
A Pentagon official and three other U.S. government officials went to the Prime Minister of Nigeria. They paid him $50,000,000 to more than double the price of body light crude oil. This is the crude oil of Nigeria which is some of the most valuable crude oil in the world. At the same time that the Prime Minister of Nigeria was being persuaded, other Trilateral Commission members were in the Middle East persuading the Middle East nations and England to consolidate OPEC. The deal cut with the Middle East oil producers was that the oil buyers were prepared to pay significantly higher prices for oil if the Middle East nations would invest the revenues in the big banks in America.
Sheik Yamani's nephew assured us that Sheik Yamani and other oil min-isters did not know until late in the seventies or in the eighties that the controlling interest of the prime banks is held by the same people who have the controlling interest in the major oil companies. They control through a joint stock trust which was set up by the original Rockefellers here in America in 1870. This was three years before the United States government declared joint stock trusts illegal in 1873. It is this entity which is the ultimate controlling factor in America of the prime banks, the Federal Reserve, the major oil companies, and many other multi-nationals. This trust is in joint control of the Rockefeller Foundation and their European interest.
The deal cut with the Saudis, the Kuwaitis, and the middle eastern peoples was that they were to put their money in the prime banks in America. They did not know that the prime banks were able to lend twenty to one. All they were to receive was the interest on the money they deposited for between ten to thirty years. They were to receive the principal at the end of the term.
Because they had locked-in deposits from the Middle Eastern nations, the banks were able to make loans to the Third World nations. The banks relied on the greed of those ministers of those Third World nations to mishandle the money. Over the years, that manipulated greed has caused those countries to be in the bankrupt position they are in today.
In 1981, I found out that the Hunt brothers of Texas and John Conley, the Governor of Texas, who was also the Under Secretary of the Treasury, had secretly tried to implement a new currency for Texas. They could legally do this because Texas is only a part of the United States by treaty. This treaty is automatically renewed every year. It has become a tradition, obviously, that it is renewed every year because it is not actually, physically, renewed every year. This made it possible for Texas to create its own money.
The Hunts were in partnership with the Shah of Iran, a German bank, and an Austrian bank. The Hunts made one mistake. They were buying and selling silver irresponsibly. They had one man doing both buying and selling on the same floors in all the exchanges. Word got out and the result was that the German banker was murdered, the Ausrtrian banker was so badly beaten that he will never get out of a mental institution, and the Hunts are virtually bankrupt today.
The Hunts had sixteen billions in worth at the time. The Shah was perfectly healthy when he left Iran. He was only declared sick when he arrived in America. He was held in "protective custody" in military bases where he was treated and became progressively worse and ultimately was shipped off to die.
In 1983, we became aware of the fact that a group of very, very quiet bank holding companies were extending credit wherever they felt like it, under whatever terms they felt like. They are authorized under Regulation Y, Section 225.4 of the United States Code to extend this credit. Those companies were receiving loans from the prime banks. With this money they were buying foreclosed real property and businesses with bricks and mortar from liquidations, foreclosures and bankruptcies.
These were businesses which were affected by FDIC and FSLIC foreclosures. We could not understand this, and between 1983 and 1985 we researched it and still could not understand it.
Then we found the answer in 1985 when we were approached by an emissary from President Marcos of the Philippines and President Saharte and others from Indonesia. They had a severe problem. Their problem was that, having borrowed all the money that they had borrowed, they now needed more money. The only way that the International Monetary Fund was prepared to lend them more money was if they would do three things:
1. Eliminate their own currencies and become Dollar denominated. This would eliminate cash altogether.
2. If they would go to a unilateral centralized credit card system. This was to be a part of their Social Security system, part of their identity system whereby everybody in the country would have a Social Security number which would be synonymous with a credit card number. Their Central Bank was to act as the wholesaler for credit which was extended to it by the new super bank. This was announced by Paul Volker on the 27th of October, 1985.
3. In order to help the economies of those countries, the International Monetary Fund was going to nominate external non-domestic corporations to properly engineer, exploit and excavate the minerals from those countries in return for PERPETUAL ROYALTIES.
This excavation would bring prosperity to the nation. Marcos was sharp enough to pick up on the word PERPETUAL, and realized he would be signing away the sovereignty of his nation. He was not prepared to do this. Marcos approached us through his emissary, Colonel Christopher Banis. We were aware of this offer made by the International Monetary Fund through our connections in London who are close to Sir Jeffrey Howe. If they agreed to the International Monetary Fund's terms and conditions, they were to have their existing debts forgiven, absolutely. New lines of credit were to be extended to them and the new lines of credit were to be under better terms and conditions.
When we heard the term PERPETUAL, and when we heard the words "Totally forgiven", we immediately began to recognize what was happening. Another group of holding companies was operating with the previous group of holding companies. The second group of holding companies was receiving credit from the first group to purchase assets and liabilities from the prime banks. The only liabilities they were purchasing were the liabilities represented by the deposits of the Arab nations.
The only assets they were buying were the assets represented by the loans made to some of the debtor nations. It then became clear, through our own people in the Trilateral Com-mission, that the forgiveness of the Third World debts would eliminate the assets which were being purchased by this second group of holding companies. This left them only with the liabilities that were owed to the Middle East nations and being serviced by the prime banks.The Arab nations had no idea that these liabilities were now owed by the holding companies and that the debtor nations had stopped paying the prime banks. The prime banks' and holding companies' arrangements were that the prime banks were to act as servicing agents for the holding companies so that the Third World nations would not know that the holding companies were owed the money.
The effect of the elimination of the assets of the second group of holding companies is threefold:
1. The holding companies would be insolvent and would legally be able to declare themselves insolvent.
2. They could legally and legitimately avoid payment to the Middle Eastern Nations.
3. The Middle Eastern Arab nations will have to liquidate all their other assets.
These assets are represented by U.S. corporate ownership and many billions of dollars worth of U.S. stock. The effect of the Saudis and Kuwaitis and the Middle Eastern people's sale of even 25% of their total holdings on the U.S. market would be absolutely chaotic in terms of the stock market, real estate and everything else. The catastrophic effect has been designed to throw the American stock market, the American corporations, the American real estate, and people in general into a state of confusion. The plan is that this state of con-fusion will be greater with the salvation of the benevolent bankers on three fronts:
1. They propose to eliminate cash because of the collapse.
2. Stop drug trafficking because the drug traffickers would now have no money to use.
3. Stop tax cheating.
NOBODY CAN ARGUE WITH ANY OF THESE REASONS. It is at this point that they intend to implement a mandatory credit card identity Social Security government. There will be an I.D. card which will be satellite linked through the "Star Wars program". Only 40% of "Star Wars" has anything to do with defense. 60% is designed for transmission of banking information instantaneously to the central banks which will be the super banks into which all the major banks of the world will be linked. The super bank is to be the wholesaler and the prime banks are to be the retailers in the foreign countries that have capitulated to the International Monetary Fund's program.
It only takes 5% of the total debtor nations to equal all of the deposits of the Saudis that are in the banks. The reason for this is the twenty-to-one ratio of fractional reserve banking. In works in contrary reverse. It doesn't take many nations to agree to the International Monetary Fund's proposal for the total volume of money owed to equal the total volume of money on deposit from the Saudis. Twenty debtor nations have already agreed to the International Monetary Fund's proposal. The resultant collapse of the second group of holding companies will precipitate the Saudis' and Kuwaitis' liquidation of assets.
When the second group of holding companies are unable to pay the private group of bank holding companies the money they owe them from the credit extended to them to buy the assets and liabilities, it will precipitate those bank holding companies inability to pay the loans extended to them by the prime banks to buy the foreclosed land which was used as collateral to secure those loans. Ultimately, the prime banks will end up with all the properties.
President Garcia of Peru announced in February of this year that they were absolutely not going to pay the International Monetary Fund. Rockefeller himself went to Peru in February of 1986. Rockeffeler personally made the offer to Garcia of the three-point proposal which was mentioned earlier. Garcia told David that if he wasn't out of the country in twenty-four hours that he would have him arrested for racketeering.
You will see the foreclosures on real property in America stepped up drastically by the FDIC and FSLIC. They are using gangster like tactics to achieve their objective for their masters. Since the advent of the manipulation of the oil producing countries to sell all their oil in U.S. dollars, the entire world trade is now denominated in U.S. dollars because of the volatility of all the other currencies. The entire trading volume of the world will be totally and absolutely beholden to the super banks. When System 2000 is put into effect, the super banks will be the only source of "U.S. Dollars" credit. There will be no cash."
John Galt says 'FOLLOW THE HUNT FAMILY OF TEXAS'
Thirteen families effectively control the central banks of all the hard-currency countries. These "control banks" all practice FRACTIONAL RESERVE BANKING, which is perfectly legal in the US. Fractional reserve banking means that the bank is only required to hold on hand the small fraction of money (5%) that is needed to cover the fraction of deposits likely to be drawn upon and cashed. Moneys deposited in accounts go into a reserve upon which credit can be issued. In the US credit can be issued to seven times the reserve, in international banks (off shore establishments) twenty times the reserve can be issued as credit. It is important to understand this concept in order to understand the larger picture.
In the mid 1970s, the final phase of System 2000, a "global creditors' unilateral totalitarian plan" was put into effect. A Pentagon official and three other US officials went to the Prime Minister of Nigeria and offered him fifty million dollars in cash to double the price of light crude oil. Nigeria is one of only two countries in the world that produce light crude, which is an extremely pure form of oil whose price sets the standard for all other forms of crude oil.
Armed with the knowledge that, because of their deal with Nigeria, the price of Mid-east oil was about the skyrocket, the international bankers went to the Arabs and said, "We will send the price of crude oil as high as you want if you will promise to invest some of the money you make in the United States."
Nigeria doubled the price of light crude, the price of oil from the Mid-east went up and the price of a gallon of gasoline in the United States jumped to $1.20. (My note: In Italy, where I was living at the time, it was costing $1 a Lire after the oil price was sent through the roof.) Unwittingly, Americans began to finance System 2000 with every tank of gas they bought.
As the money began to pour into the Arabian countries, the sheiks fulfilled their promise to invest in the U.S. and began buying stocks, bonds, and real estate. More importantly, they put their money into thirty-year timed certificates (drawn up by the international bankers). Remember that Arabs went from camel-riding nomads to wealthy international investors in a very short period of time and they had no grasp of how the banking system worked; in particular, they did not know about the concept of fractional reserve banking.
The international bankers now had millions of dollars locked into timed deposits, and they took that money and loaned out TWENTY TIMES AS MUCH. In 1983, the international bankers created two groups of holding companies to handle all this Arab money. One of the groups took the funds coming in from the Arabs and loaned it out to Third World countries. The purpose of the holding companies, as you will see later, was to remove the responsibility for the money from the banks to a less accountable entity.
The international bankers were aware of the fact that most of the Third World countries knew nothing about running a country or allocating funds. Most had been colonies of some other nation and had only recently begun to govern themselves. The bankers were counting on the Third World countries to squander their money in a short time. They fully intended for these countries to go bankrupt and to be unable to pay back their loans.
The Philippines is one example of what happened to Third World countries in the next stage of the plan. The international bankers went to President Marcos and presented him with a way out of the enormous debt his country faced. They said, "We will forgive your loans - you'll have to pay none of the principal, none of the interest - if you will just sign this agreement: 1) do away with its national currency, 2) go to a debit-card system where each person is assigned a number and his purchases are debited from his account on a computerized system and 3) sign over perpetual rights to all natural resources in the country.
The offer was tempting since it would put much of the labor force back to work and solve many of the country's economic problems. But Marcos realized that because of the word "perpetual", he was virtually giving away the sovereignty of his country. He refused to sign the agreement. Weeks later he was deposed and his country was torn apart by riots which Jonathon May says were incited by the internal bankers.
Other countries decided to accept the agreement when it was offered to them. Recently Brazil, Argentina and other nations have announced that they do not plan to pay back their loans. They failed to mention that the loans had been excused in exchange for the rights to their natural resources. At this point all the dominoes are in place and the international bankers are ready and waiting for their opportunity to topple them.
HERE IS THE PLAN. When enough of the Third World nations sign the agreement, saying they are not going to repay the loans they received from the holding company, the international bankers can declare the holding company insolvent. (This is where it becomes apparent why the money was put in holding companies instead of in banks. The holding companies were designed to go bankrupt.! Chase Manhattan or Chemical Bank would not have to be sacrificed since there were not responsible for the loans.)
Once the holding company is declared bankrupt, they can legally avoid payment to the Arab nations. The international bankers will say, "Sorry, Arabs. We lost your money. You are broke!" When the Arab nations realize that all their money is gone, they will immediately liquidate all of their other assets. They will dump billions and billions of stocks and Wall Street will collapse. They will put all of their farmland and real estate on the market and land values will plummet. Farmers will have no collateral to borrow against to plant next year's crops and food will become scarce in the grocery stores.
The effect this will have on the American economy will be chaotic. This catastrophic collapse has been purposely designed to throw the American people into a state of confusion. Then the benevolent bankers will step forward saying, "Look what these dirty Arabs have done to you!" and offer a solution to our problems. Their solution will be to abolish our currency and institute a new form of money. Each person then would be issued a government ID number and would need a debit card to do any business transactions.
Perhaps the biggest shock in May's story is that the "Star Wars" system is only 40% concerned with defense and 60% concerned with banking! These "Star Wars" satellites would link the debit system to a central computer base - a super bank. Transfer of funds between accounts would be instantaneous and the internal bankers would finally have complete financial control. May says the debate over "Star Wars" is all show because the satellites are already in place!
Perhaps the best defense the international bankers have against protesters is influencing the publics' opinion through the media!!! In his book, "The Naked Capitalist" Cleon Skousen says that, "Nothing panics the international establishment like the possibility of a threatened exposure. Whenever the public has become dangerously aware of the conspiratorial processes operating around them, the vast inter-locking power structure of the entire London-Wall Street combine has immediately shifted into high gear and raced to the rescue. Radio, TV, newspaper, magazines, government policy makers, college officials and other opinion molders in high places have all commenced a recitation of a carefully prepared line designed to pacify the public and put them back to sleep".
Who actually controls the Federal Reserve? Who are the stockholders of this private corporation? In a legislative session regarding abolishing the Fed, the following eight family banks were named as the owners of the Federal Reserve:
Rothschild: Banks of London and Berlin
Lazares Brothers: Banks of Paris
Israel Moses Seif: Bank of Italy
Warburg: Bank of Hamburg and Amsterdam
Lehman Brothers: Bank of New York
Chase Manhattan: Bank of New York
Kuhn Loeb: Bank of New York
Goldman Sachs: Bank of New York.