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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. How did governments devalue currency in fiat money systems?
(a) This was accomplished by devaluing the currency through legislation.
(b) This was accomplished by devaluing the currency through taxation..
(c) This was accomplished by devaluing the currency through use of the printing press.
(d) This was accomplished by devaluing the currency through regulation.

2. What system was in control of the economy before the Federal Reserve System was established?
(a) Before the Federal Reserve System came into being, groundwork was laid by the few people who controlled banking.
(b) Before the Federal Reserve System came into being, groundwork was laid by the few people who controlled banking.
(c) Before the Federal Reserve System came into being, groundwork was laid by the few people who controlled banking.
(d) Before the Federal Reserve System came into being, groundwork was laid by the few people who controlled banking.

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

4. 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.

5. 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 small rival banks; recapturing the industrial loan market; and, shifting losses from the banks to the taxpayers.
(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 savings and loans; recapturing the foreign loan market; and, shifting losses from the banks to the state governments.
(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.

Short Answer Questions

1. What did the author predict would become the world government?

2. What would result if the money system returned to the gold standard?

3. What caused the economic downturn in 1818?

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

5. What caused the collapse of the Bank of Hamburg in 1813?

Short Essay Questions

1. According to Chapter 25, what two social classes does the author predict for the future?

2. According to Chapter 13, what was the goal of the secret society founded by Lord Alfred Milner?

3. According to Chapter 17, what dispute did President Andrew Jackson have with the leader of The Second Bank?

4. According to Chapter 14, how many revolutions did Russia actually undergo?

5. What realistic scenario was discussed in Chapter 26 involving the U.S. monetary system?

6. In Chapter 11, what place in history does the Rothschild family hold?

7. According to Chapter 25, what did the author predict for the U.S. economy?

8. According to Chapter 10, what is the basic structure of the US monetary system?

9. According to Chapter 9, what culture first developed the the modern equivalent of the banking industry?

10. In Chapter 16, when was the first central bank founded in the US?

(see the answer keys)

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