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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What action was taken to keep England from sliding into depression?
(a) To keep Britain from sliding into depression, the U.S. dollar was intentionally deflated through the Federal Reserve System.
(b) To keep Britain from sliding into depression, the U.S. dollar was intentionally inflated through an activist Supreme Court.
(c) To keep Britain from sliding into depression, the U.S. dollar was intentionally inflated through the US Congress.
(d) To keep Britain from sliding into depression, the U.S. dollar was intentionally inflated through the Federal Reserve System.

2. What portion of the U.S. debt did a large portion of the tax dollar pay for?
(a) The U.S. debt continued to grow with a large portion of tax dollar going to US war efforts.
(b) The U.S. debt continued to grow with a large portion of tax dollar going into paying the principal on the debt.
(c) The U.S. debt continued to grow with a large portion of tax dollar going into paying only the interest on the debt.
(d) The U.S. debt continued to grow with a large portion of tax dollar going to entitlement programs.

3. Why did governments favor banks based on a fiat money system?
(a) Governments liked the fiat money because it was a way of confiscating wealth from the citizens without raising taxes.
(b) Governments liked the fiat money because it was a way of confiscating wealth from the rich and redistributing it to the poor.
(c) Governments liked the fiat money because it allowed them to raise taxes.
(d) Governments liked the fiat money because it allowed them to hoard gold.

4. What were the additional goals after the Federal Reserve was established in 1910?
(a) The goals were to craft legislation to bring about: the elimination of savings and loans; recapturing the foreign loan market; and, shifting losses from the banks to the state governments.
(b) The goals were to craft legislation to bring about: the elimination of foreign interests; recapturing the bond market; and, shifting losses from the the US to foreign investors.
(c) The goals were to craft legislation to bring about: the elimination of small rival banks; recapturing the industrial loan market; and, shifting losses from the banks to the taxpayers.
(d) The goals were to craft legislation to bring about: the elimination of bank oversight; debt elimination; and, shifting losses from the taxpayers to banks.

5. What did communism become known as in the 1980s?
(a) What was called communism had its name changed to socialism, although the system worked exactly the same.
(b) What was called communism had its name changed to fascism, although the system worked exactly the same.
(c) What was called communism had its name changed to social capitalism, although the system worked exactly the same.
(d) What was called communism had its name changed to social democracy, although the system worked exactly the same.

6. What was the economic outlook in the U.S. following the Civil War?
(a) During the years following the Civil War, the U.S. economy went through extremes of the boom-bust cycle.
(b) During the years following the Civil War, the U.S. economy experienced a period of deflation.
(c) During the years following the Civil War, the U.S. economy went through a recession.
(d) During the years following the Civil War, the U.S. economy experienced inflationary times.

7. What did the author predict would become the world government?
(a) The UN was the organization that would become the world government.
(b) China would become the world government.
(c) Europe would become the world government.
(d) The US would become the world government.

8. What drove prices upward during the War of 1812?
(a) During the War of 1812, wildcat banks created bank notes that the government used to purchase war materials, tripling the money supply and driving prices upwards.
(b) During the War of 1812, the central bank created bank notes that the government used to purchase war materials, tripling the money supply and driving prices upwards.
(c) During the War of 1812, the Federal Reserve created bank notes that the government used to purchase war materials, tripling the money supply and driving prices upwards.
(d) During the War of 1812, the US Congress created bank notes that the government used to purchase war materials, tripling the money supply and driving prices upwards.

9. What was the name of the central bank established in 1791?
(a) The Bank of America was chartered in 1791.
(b) The Bank of New England was chartered in 1791.
(c) The Bank of the Philadelphia was chartered in 1791.
(d) The Bank of the United States was chartered in 1791.

10. What do some radical conspiracy theorists believe about the 9/11 attacks?
(a) That the ultra-conservative right-wing had actually carried out the 9/11 terrorist attacks on the World Trade Center in New York City.
(b) The U.S. government had actually carried out the 9/11 terrorist attacks on the World Trade Center in New York City.
(c) That the Chinese government had actually carried out the 9/11 terrorist attacks on the World Trade Center in New York City.
(d) That Russia had actually carried out the 9/11 terrorist attacks on the World Trade Center in New York City.

11. How many revolutions did Russia actually undergo?
(a) Russia went through five revolutions.
(b) Russia went through seven revolutions.
(c) Russia went through two revolutions.
(d) Russia went through three revolutions.

12. How were some organizations able to profit during the boom-bust cycle?
(a) Big fortunes were also made by powerful financiers by hoarding cash. The Bank of England, the House of Morgan and the Rothschilds were among the winners.
(b) Big fortunes were also made by powerful financiers through market manipulations. The Bank of England, the House of Morgan and the Rothschilds were among the winners.
(c) Big fortunes were also made by powerful financiers through illegal operations. The Bank of England, the House of Morgan and the Rothschilds were among the winners.
(d) Big fortunes were also made by powerful financiers through legislation that favored them. The Bank of England, the House of Morgan and the Rothschilds were among the winners.

13. What was the role of the British Ship Lusitania in World War I?
(a) The Lusitania was being used to transport soldiers from the US to England under the guise of a passenger liner that also hauled goods.
(b) The Lusitania was being used to transport munitions from the US to England under the guise of being a cargo ship.
(c) The Lusitania was being used to transport munitions from the US to England under the guise of a passenger liner that also hauled goods.
(d) The Lusitania was being used to transport tanks from the US to England under the guise of a passenger liner that also hauled goods.

14. What other organizations were spawned from Milner's secret society?
(a) Other parts of the secret society showed up as the Council on Foreign Relations and even the Red Cross.
(b) Other parts of the secret society showed up as the World Bank and Red Cross.
(c) Other parts of the secret society showed up as the International Money Fund.
(d) Other parts of the secret society showed up as the Noble Prize Commission.

15. What document did the author provide to support the idea of a conspiracy to destroy the U.S. economy?
(a) The author used a document named the Report from Iron Mountain to support the idea of conspiracy to destroy the US economy.
(b) The author used the minutes of secret Jekyll Island meeting to support the idea of conspiracy to destroy the US economy.
(c) The author used a document obtained by the CIA to support the idea of conspiracy to destroy the US economy.
(d) The author used a confidential report found in Congressional archives to support the idea of conspiracy to destroy the US economy.

Short Answer Questions

1. What were the sales of English and French war bonds used for?

2. When was the Federal Reserve Act passed?

3. Early banks were supported by what monetary system?

4. What decade marked the beginning of a tremendous surge in U.S. debt?

5. What occurred after the economic downturn in 1818?

(see the answer keys)

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