Book SummaryThe Truth About Money, by Timsimon Kimani

1-Page Summary1-Page Book Summary of The Truth About Money

The fundamental principles and intricate mechanisms expose how the central banking system takes advantage of the wider public.

Kimani argues that the current economic system has been deliberately shaped by a group of powerful individuals who have orchestrated the establishment and management of central banks. Entities that appear to be under government oversight are actually privately owned institutions designed to enhance the wealth status of those at the top of the social hierarchy. Their power lies in their ability to manipulate the very essence of money, with far-reaching consequences for economies and individuals alike.

The development and structure of the central banking system.

This section delves into how privately owned central banks have risen to a significant status within the global financial sphere. The book clarifies how these entities assert control and manipulate a nation's financial systems for their own benefit.

The establishment of the Federal Reserve, a central bank that is privately owned, was significantly influenced by a prominent banking dynasty.

Kimani emphasizes the significant role played by the prominent Rothschild family, a dominant force in international banking, in establishing the privately-held Federal Reserve in the United States, a model that was later emulated by many countries around the world. He examines their influence through referencing a famous adage attributed to a prominent banking figure, who claimed that having control over a nation's money supply and its distribution holds more sway than the formulation of its legislation. The author highlights critical events including the creation of the first national bank in the United States in 1791, the tactics used by the Rothschilds to maintain their stronghold on the American economy during times of war, and the secretive gathering at Jekyll Island in 1910 where a select group of financiers crafted the legislation that would lead to the establishment of the Federal Reserve.

Kimani reveals that the initiative, purportedly launched to ensure economic stability and curtail the growth of the financial sector, actually led to the opposite outcome. A specific group of private bankers acquired the capability to generate currency out of thin air and provide it to the government at a price, initiating an endless loop of national indebtedness. By setting up equivalent monetary authorities across the globe, this collective has tightened its grip on international finance, interconnecting countries via a network that they ultimately dominate.

Other Perspectives

• The Rothschild family, while influential in international banking, did not have direct control over the drafting or the passing of the Federal Reserve Act.
• The term "dominant force" could be misleading, as it implies an unchallenged control, whereas the international banking landscape has always been competitive, with multiple players vying for influence.
• The adage about controlling a nation's money supply is often attributed to Mayer Amschel Rothschild, but there is no concrete historical evidence that he actually said this, suggesting that the influence attributed to the Rothschild family in this context may be based on an apocryphal quote.
• The creation of the first national bank was a contentious issue, with significant opposition from figures like Thomas Jefferson, who believed it would create a centralized power contrary to the principles of federalism.
• The narrative may be influenced by historical myths and misconceptions about the Rothschild family, which have been debunked by scholars who argue that their influence has been exaggerated and often misrepresented in popular discourse.
• The meeting at Jekyll Island was not entirely secretive, as it was later disclosed to the public and has been documented in historical records.
• The establishment of the Federal Reserve was also a response to the need for a centralized banking system following the Panic of 1907, rather than a direct attempt to limit the financial sector's growth.
• The Federal Reserve remits most of its profits to the U.S. Treasury, reducing the amount of money the government needs to raise through taxation or borrowing.
• National indebtedness is influenced by a wide range of factors, including fiscal policies, government spending, and economic conditions, not solely by the existence of a central bank like the Federal Reserve.
• The ability of central banks to create money is a tool used to manage the economy and is not inherently a means for private bankers to profit at the expense of the public.
• Many countries have established safeguards and policies to maintain a degree of autonomy over their monetary policy, which counters the idea of a single collective's dominance.

Central banks contribute to the escalation of a nation's debt by creating money out of thin air and lending it to governments at an interest.

Kimani unveils the disconcerting reality that central banks generate currency from nothing, which is then loaned to governments with interest, an act he compares to "legal counterfeiting." Individuals lack the authority to issue their unique currency, a privilege reserved for central banks, which operate unrestrained, their legitimacy rooted in the public's trust in the financial system. He cites various experts, including past Federal Reserve chiefs like Alan Greenspan and Graham Towers, to illustrate this phenomenon. The author explains that the essential framework being examined is significantly dependent on the growth of debt, crucial for the continuous increase in the money supply. Kimani argues that those in charge of controlling the economy's expansion and contraction by adjusting interest rates and managing the circulation of money manipulate economic realities for their own benefit.

The author uses the 2008 real estate market crash to illustrate such...

The Truth About Money Summary The role of the educational system is to uphold current social standards while also contributing to the development of individuals who are not well-versed in financial knowledge.

Kimani argues that the traditional educational framework continues to sustain the deep-rooted imbalances in financial status. He argues that the educational system is intentionally designed to produce workers rather than cultivate entrepreneurs or investors, thus perpetuating reliance on the existing economic framework. Educational institutions' lack of comprehensive financial education leaves graduates ill-equipped to navigate the complexities of personal finance management, making them vulnerable to manipulation by individuals who possess sophisticated financial knowledge.

The educational system primarily aims to shape individuals into prospective workers rather than fostering entrepreneurial or investment abilities.

The author suggests that the primary objective of the educational system is to cultivate a workforce that unquestioningly adheres to the economic objectives established by the ruling authorities. He argues that the focus of educational systems is more on molding people to accept consistent financial conditions as workers, instead of providing them with the crucial skills and understanding needed to create true wealth.

Educational systems frequently...

The Truth About Money Summary The biblical perspective on wealth underscores the importance of employing financial assets to support others and to comprehend poverty.

In this section, the writer shifts to a spiritual perspective, underscoring the scriptural belief that God wishes for His followers to attain financial success. He explores the concept of building substantial wealth through adherence to financial advice, exercising benevolence, and implementing moral practices as advocated in holy texts. He emphasizes that the purpose of wealth is to support virtuous endeavors that advance higher goals and to aid those in need.

The sacred intent is for the devout to attain financial abundance and use their resources to support the impoverished and those in hardship.

Kimani explores the biblical viewpoint on wealth, emphasizing that it is God's desire for His adherents to thrive amidst abundance instead of deficiency. He cites a verse, specifically Deuteronomy 8:18, to underscore that the capacity to create prosperity is a sacred gift intended to uphold His covenant, thereby reassuring believers that achieving financial prosperity aligns with celestial designs. Kimani delves into the more profound implications of the biblical story where servants are given talents, implying that God expects a return on the natural abilities granted to each...

The Truth About Money Summary Effective methods and guidelines for attaining prosperity and financial independence by applying principles from biblical teachings.

Kimani presents a plan that guides people towards accumulating wealth and achieving financial autonomy, aligning with biblical principles, following his initial explanation of the contemporary economic structure and its spiritual implications. He inspires his audience to adopt a perspective focused on surmounting challenges, enhancing the lives of others, and creating value, which he likens to embracing a mindset of abundance.

Fostering a mindset focused on addressing challenges and positively influencing the well-being of others is essential.

Kimani emphasizes the importance of embracing a positive and proactive approach to financial management, which he describes as cultivating a mentality geared towards building wealth. He explains that this viewpoint involves seeing opportunities where others see obstacles and underscores the significance of creating value for others, recognizing that prosperity results from solving problems and helping others. A home is built on the bedrock of wisdom, and it is insight that is essential for its erection; the rooms are filled with treasures that are precious and pleasing.

Kimani emphasizes that wealthy individuals prioritize learning...