A History of Capitalism
For Progressives


Replacing Capitalism

  Class Warfare Commonwealth Communities   Tone
Capitalist Economic Terrorism Capitalist Genocide   Capitalists Are Murdering Workers

"Capitalism is not a system based on a transhistorical rationality that would allow it to be reproduced indefinitely and thereby become the manifestation of the 'end of history.' As opposed to this ideological view inspired by the 'economics' of imaginary capitalism, I read the historical trajectory of capitalism as consisting of a long preparation (eight centuries from the year 1000 in China to 1800 in Europe), a short apogee (the nineteenth century) and a decline begun in the twentieth century."

Samir Amin, "The Center Will Not Hold: The Rise and Decline of Liberalism,"
January, 2012, Monthly Review

    Defining capitalism as the private ownership of the means of production, we can say that this mode of economic interaction began early in human history. For a brief moment in pre-historic time, humans appear to have ordered their lives in communal fashion, with the means of production being owned by all members of the community.

   But, unfortunately, this matriarchal order was soon overcome by a patriarchal, capitalist system, the dominant mode of interchange ever since.

   Broun the late stone age hunter who lived during the patriarchal period, owned his own spear, bow and arrows. He also believed he owned any woman he came in contact with.

      In essence, capitalism as a form of economic interchange has always existed in collaboration with totalitarian 1   dictatorship: a person or persons with more power manipulating the less powerful. Always, the pretence has been that the particular form of capitalism-dictatorship in operation was the best--because it was the only viable system available.
"You need me, because I am rich and you are poor; let's then establish an agreement between us: I will allow you to have the honor of serving me on the condition that you will give me the little that you have left for the pains I will undergo for commanding you."

Jean Jacques Rousseau, Economie Politique, 1755

      The feudal system predominated during the 8th century, when the Carolingian dynasty began to expand its territory. Charles Martel granted his nobles rights over tracts of land, to yield the income with which they could provide fighting men for Martel's army. This act of seeming generosity, was ultimately for the king's own benefit, and he demanded an oath of loyalty in return.

      Kings such as Martel were usually dominated by the Roman Catholic pope. A pyramid of loyalty--and slavery--was thus created. Each man--except those at the very top and bottom--was a vassal to a higher lord and a lord to several vassals. At the very peak of European feudal society was the pope. By the end of the twelfth century the papacy had more feudal vassals than any temporal ruler.

      Feudalism remained dominant until the sixteenth century.

"I see the beginning of capitalist modernity occurring much earlier in the Sung era [1000 CE] in China, spreading to the Abbassid Caliphate, and then the Italian cities. [1800 CE]

Samir Amin, "The Center Will Not Hold: The Rise and Decline of Liberalism,"
January, 2012, Monthly Review

   Modern capitalism came into existence in reference to three systems solidifying in the sixteenth century and becoming lethal in the twenty-first century:

  • Multinational corporations: The formation of joint-stock companies, in which investors pool their resources for a major commercial undertaking

  • Factories: The beginning of the Industrial Revolution: large numbers of workers are employed in a single private enterprise

  • Banks: Throughout Europe, bankers replaced the Jews as money-lenders to the rich and powerful. Bankers invented creative accountancy to avoid the Christian sin of usury. Interest on a loan was presented in the accounts either as a voluntary gift from the borrower or as a reward for the risk taken.

The Settling of Amerika: The Genocide of Native American Populations

   "The early English settlers depicted Amerika as empty - 'a howling wilderness', 'unsettled', 'sparsely populated' - just waiting with a 'VACANT' sign on the door for the first lucky civilization to walk in and claim it. Theodore Roosevelt wrote defensively in 1900: '... the settler and pioneer have at bottom had justice on their side; this great continent could not have been kept as nothing but a game preserve for squalid savages.'" 2

"It was this alone that drew so many Europeans to colonial North Amerika: the dream in the settler mind of each man becoming a petty lord of his own land. Thus, the tradition of individualism and egalitarianism in Amerika was rooted in the poisoned concept of equal privileges for a new nation of European conquerors. . . The key to understanding Amerika is to see that it was a chain of European settler colonies that expanded into a settler empire. To go back and understand the lives and consciousness of the early English settlers is to see the embryo of today's Amerikan Empire. This is the larger picture that allows us to finally relate the class conflicts of settler Euro-Amerikans to the world struggle." 3

Highlights of U.S. Financial History

U.S. Constitution is ratified granting Congress alone the right to COIN money - not to print it.  Only gold and silver were considered REAL money.
1st. U.S. Bank is chartered.
Charter of U.S. Bank expires.
War with Great Britain over the lapsed charter. The capitalist cabal tries to get the New England States to leave the Union.
2nd Bank of the U.S. is chartered.
President Jackson vetoes charter of 2nd Bank.
Civil War begins. Defeated capitalist cabal successful in getting 13 States to leave the Union.
Congress passes Banking Act authorizing the printing of paper money (greenbacks) to finance the war. This was supposed to be an emergency measure only until the war was over. All the provisions of the Banking Act were to expire in 20 years.
Silver is demonetized. Free coinage of silver is ended. U.S. goes on gold standard.
Banking Act expires but is renewed for another 20 years.
President McKinley is assassinated by capitalist cabal and Theodore Roosevelt becomes President.
Banking Act which gave the U.S. paper money was supposed to expire this year. Due to the murder of President McKinley, the banking laws and paper money system were continued.
Postal Savings Bank is inaugurated.
Secret meeting on Jekyll Island, Georgia, to charter 3rd U.S. Bank.
President Wilson signs bill authorizing the creation of 3rd U.S. Bank: Federal Reserve System.
President Wilson destroys Postal Savings Bank by refusing to lift ceiling on deposits.
Great Depression begins due to manipulation of economy by Federal Reserve System.
Possession of gold is outlawed. U.S. citizens forbidden to own gold by order of President Franklin D. Roosevelt.
Cabal puppet Richard Nixon declares US bankruptcy: will no longer redeem dollars in gold

      As we see from this outline, since the beginning of the United States capitalist groups have created national or central banks as a means of taking economic and political control of the nation. The history of capitalism in the United States is the history of the ongoing war between the international capitalist cabals and the common people of America. For much of our history, those in political and economic power in the U.S. have worked on the side of the international cabal. Fortunately, four American presidents fought against the capitalist groups--what Lincoln called the "Money Power."

President Andrew Jackson 1. Andrew Jackson

      In 1836, President Andrew Jackson vetoed the bill which would have renewed the national bank's charter which expired that year. In his veto message, President Jackson said:

"The bold efforts the present bank has made to control the government, the distress it has wantonly caused, are but premonitions of the fate which awaits the American people should they be deluded into a perpetuation of this institution or the establishment of another like it."

2. Abraham Lincoln

      The capitalist cabal's plan was to split the United States into North and South and allow Britain and France to take control over the weakened nation. Great Britain moved 11,000 troops into Canada, positioning them along America's northern border for quick attack, while the British fleet went on full war alert. Within months after the first shots were fired at Fort Sumter in 1861, the international central bankers loaned Napoleon III of France (the nephew of the Waterloo Napoleon) 210 million francs to seize Mexico and station troops along the southern border of the U.S., taking advantage of the Civil War to violate the Monroe Doctrine and return Mexico to colonial rule.

Mississippi       To finance his war effort, President Lincoln went with his secretary of the treasury to New York banks to apply for the necessary loans. The money changers, wishing the Union to fail, offered loans at 24% to 36% interest. Lincoln declined the offer. Lincoln decided to use the war financing plan developed by his longtime friend, Colonel Dick Taylor of Chicago, printing $450 million in new bills using green ink on the back to distinguish them from other bank and currency notes. The notes became known as greenbacks.

      When the new currency worked as Colonel Taylor had predicted, Lincoln adopted the strategy of issuing all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers. Lincoln saw that the privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government's greatest creative opportunity. By this single strategy, money ceased, for a short time, to be the master and became the servant of the nation. Lincoln said: "Democracy will rise superior to the money power."

      Placing monetary and currency power in the hands of the federal government worked so well that Lincoln began considering the adoption of this emergency measure as a permanent policy. This policy was advantageous for everyone except the money power cabal who quickly expressed their views in an article in the London Times.

"If this mischievous financial policy, which has its origin in North America, shall become endurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy every monarchy on the globe."

Lord Goschen, spokesman of the Financiers,
Hazard Circular - London Times, 1865

      In 1863, Lincoln needed just a bit more money to win the war, but he knew he could not get congressional authority to issue more greenbacks. Seeing their opportunity, the money changers proposed that Congress pass the National Bank Act. Congress acceded and from that time on the entire American money supply has been created by bankers buying U.S. government bonds and issuing currency.

"The money power preys upon the nation in times of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. Corporations have been enthroned, an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its REIGN by working upon the prejudices of the people until the wealth is aggregated in a few hands and the Republic is destroyed."

President Abraham Lincoln after the National Banking Act of 1863 was passed

      Lincoln was able to win the civil war by receiving assistance from a most unexpected source: the Tsar of Russia. Alexander II was well aware of the international money cabal's scams and he refused to allow them to set up a central bank in Russia. Alexander II knew that if the Union lost the war and the U.S. were to be plundered by the international money cabal, that the cabal would soon attack Russia.

      The Tsar issued a declaration: if France or Britain provide assistance to the American Confederacy, Russia will consider this an act of war. While the international cabal waited to see if Alexander II's threat was real, the Union won the civil war.

Confederacy       Lincoln decided to wait until after the election of 1864 to seek renewed public support before reversing the National Bank Act he had been pressured into approving during the war. The money power was fully aware of Lincoln's opposition to the international central banks' world financial control. The international cabal decided that Lincoln had to be assassinated.

      The best hypothesis concerning Lincoln's death--as explored in David Balsiger and Charles E. Sellier, Jr.'s 1977 book, The Lincoln Conspiracy, C. K. Howe's Who Rules America? and R. E. Search's Lincoln Money Martyred--is that he was assassinated by a lone psychotic gunman (sound familiar?), part of a carefully designed plot hatched by the money power.

     "Out of this modern civilization economic royalists carved new dynasties. New kingdoms were built upon concentration of control over material things. Through new uses of corporations, banks and securities, new machinery of industry and agriculture, of labor and capital - all undreamed of by the Fathers - the whole structure of modern life was impressed into this royal service."

Franklin Delano Roosevelt, speech in Philadelphia on June 27, 1936

3. Franklin D. Roosevelt

      The international cabal's looting of America continued into the twentieth century, when they set up their own private banking system in 1913--the "Federal" Reserve System--to control the U.S. monetary system. In the 1920s and 30s, the capitalists so destroyed the American economy through their criminally corrupt practices that they couldn't restart their system.

      President Franklin D. Roosevelt saved capitalism from its own Robber Baron excesses by instituting his New Deal policies, which included Social Security and various social welfare features.

      While conditions for workers improved under New Deal progressivism, Roosevelt unfortunately retained the underlying bankrupt capitalist derangement, so that it soon reared its demonic head and began to seize control once more. The country slowly returned to the earlier system of predatory capitalism, so that full recovery occurred only when the economy was harnessed to arms production in preparation for a new plundering of world markets in the imperialistic bloodbath of World War II. In other words, even the "miracle" of FDR's economic recovery was possible only when unemployed workers had been transformed into cannon fodder for a new world conflagration.

"These economic royalists complain that we seek to overthrow the institutions of America. What they really complain of is that we seek to take away their power. Our allegiance to American institutions requires the overthrow of this kind of power. In vain they seek to hide behind the flag and the Constitution. In their blindness they forget what the flag and the Constitution stand for."

Franklin D. Roosevelt, 1936 speech

      The cabal has destroyed all the oversight features of the New Deal and is continually trying to loot Social Security through "privatization" (piratization). Following FDR's presidency they took total command of the American federal government. Unlike the FDR era during the Great Depression (1920s and 1930s) and the post-World War II era--when the cabal allowed some worker benefits--the current cabal now has no use for American workers because the capitalists have taken their manufacturing to slave-labor havens such as China, Mexico, and India.

"The only sure bulwark of continuing liberty is a government strong enough to protect the interests of the people, and a people strong enough and well enough informed to maintain its sovereign control over the government."

President Franklin D. Roosevelt

4. John F. Kennedy

     As we've seen, when an American president such as Abraham Lincoln threatens to return monetary power to the federal government, the international capitalist cabal is not above assassinating such a leader. This same scenario occurred during the presidency of John F. Kennedy. We know from Secret Service documents that the Service approved the murderous Dealy Plaza route without prior scrutiny of the route for danger. This video provides incontrovertible proof that the Secret Service pulled its men away from protecting JFK moments before the assassination took place.

      JFK was assassinated because he was planning to restructure the Federal Reserve System so it could no longer be used by the ruling powers to manipulate the economy.

"Kennedy apparently reasoned that by returning to the Constitution, which states that only Congress shall coin and regulate money, the soaring national debt could be reduced by not paying interest to the bankers of the Federal Reserve System, who print paper money then loan it to the government at interest.

"He moved in this area on June 4, 1963, by signing Executive Order 11,110 which called for the issuance of $4,292,893,815 [4.3 trillion] in United States Notes through the U.S. treasury rather than the traditional Federal Reserve System. That same day, Kennedy signed a bill changing the backing of one- and two-dollar bills from silver to gold, adding strength to the weakened U.S. currency.

"Kennedy's comptroller of the currency, James J. Saxon, had been at odds with the powerful Federal Reserve Board for some time, encouraging broader investment and lending powers for banks that were not part of the Federal Reserve system. Saxon also had decided that non-Reserve banks could underwrite state and local general obligation bonds, again weakening the dominant Federal Reserve banks." 4
      In reviewing the history of capitalism in America, we've seen that four courageous U.S. presidents--Jackson, Lincoln, F. D. Roosevelt, and Kennedy--saw the fascistic nature of this international cabal and struggled to conquer it. Two of these brave presidents paid for their efforts with their very lives.

"The powers of financial capital had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank, in the hands of men like Montagu Norman of the Bank of England, Benjamin Strong of the New York Federal Reserve Bank, Charles Rist of the Bank of France, and Hjalmar Schacht of the Reichsbank, sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

Caroll Quigley, Tragedy and Hope, 1966

The New Capitalism: Terrorism, Fascism, Militarism, Imperialism, and Genocide

      In the twenty-first century, capitalism has completely changed its essence and its tactics. The old methods of dog-eat-dog competition are no longer effective because there are not enough purchasers for the oversupply of goods that the use of slave labor makes possible.

      Capitalism has changed from the old style in which an investor gambled and sometimes lost, to the new style where banks and financial institutions are given taxpayer money if their investment schemes go sour.

      Capitalists loot taxpayer money to make huge profits, then decry increased spending and demand austerity measures to impoverish and murder the working class. Capitalists have become blatant criminals, as in the case of J.P. Morgan/Chase's 2010 commodities manipulation, which is being covered up by the US Commodities Future Trading Commission. Essentially, criminal actions by capitalists are ignored by the cabal-dominated Obama regime.

      Now capitalism is looting other nations by creating fake revolutions and invading sovereign nations. The capitalist cabal's current insane criminal behavior proves beyond doubt that capitalism is a totally failed system on its last legs.

"Historical capitalism is all things to everyone, except being durable. It is but a short parenthesis in history. The fundamental questioning of capitalism--which our contemporary thinkers, in their overwhelming majority, deem neither possible nor desirable--is nonetheless the inescapable condition for the emancipation of the dominated workers and the peoples (those of the peripheries, i.e., 80 percent of humankind). The two dimensions of the challenges are inextricably linked with one another. There will be no exit from capitalism by way of the sole struggle of the people of the North, or by the sole struggle of the dominated people of the South. There will only be an exit from capitalism if and when these two dimensions combine with one another. It is far from certain that this will occur, in which case capitalism will be overcome by the destruction of civilization (rather than the malaise of civilization, to use Freud's terminology) and perhaps life on the planet. . . The liberal catastrophe requires a renewal of the radical critique of capitalism. The challenge is the permanent construction/reconstruction of the internationalism of the workers and the peoples in the face of the cosmopolitanism of oligarchic capital."

Samir Amin, "Seize the Crisis!" Monthly Review, 2009

      As we seek to vanquish this fiendish capitalist system, a major obstacle is that the American mind has been so debilitated by the capitalist ideology that capitalism's demonic machinations are all but invisible: U.S. citizens are virtually oblivious to their systematic annihilation by capitalists. We must assist Americans to awaken to the capitalist cabal's immediate fatal threat to their very existence.

      Assisting progressives worldwide to understand the scourge of capitalism, we must also encourage a correct discernment of what actions must be taken. Mere street demonstrations of the Occupy Wall Street type do nothing to further our cause.

      Given the nature of capitalism--as detailed above--the only viable means of bringing about the necessary kind of change is to:

  1. Understand the features of a Commonwealth society

  2. Build Free Communities

"Cultural history emerges in its truth and grandeur when it is seen as an unceasing struggle between the oppressor and the oppressed. This is also the link between the present and the past. The long battle against the oppressor is not ended. Man has not yet become the full master of his own life, of the conditions of his social existence."

John Howard Lawson, The Hidden Heritage, 1950 5


1 Totalitarianism: fascistic dictatorship; a regime based on subordination of the individual to the state and strict control of all coercive measures such as censorship and state terrorism (think Patriot Act); the political concept that the citizen should be totally subject to an absolute state authority

2 Settlers

3 Ibid.

4 Jim Marrs. (1989). Crossfire: the Plot that Killed Kennedy

5 Lawson had completed this book just as he was compelled to serve a year's term in prison for refusing to answer the illegal questions of the House Un-American Activities Committee, a tyrannical group that branded anyone a communist who wouldn't answer their queries and rat out their friends.

Additional Sources: