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

Multiple Choice Questions

1. What two social classes does the author predict for the future?
(a) Only two classes of people would exist--the rich and the poor.
(b) Only two classes of people would exist--the middle class and the poor.
(c) Only two classes of people would exist--the ruling class and those ruled by it.
(d) Only two classes of people would exist--the rich and the middle class.

2. What caused the economic downturn in 1818?
(a) In 1818 an economic downturn began as the IMF tightened loan requirements and shrunk the money supply by calling in old loans.
(b) In 1818 an economic downturn began as the US Congress tightened loan requirements and shrunk the money supply by calling in old loans.
(c) In 1818 an economic downturn began as the banks tightened loan requirements and shrunk the money supply by calling in old loans.
(d) In 1818 an economic downturn began as the Federal Reserve tightened loan requirements and shrunk the money supply by calling in old loans.

3. What was the goal of the secret society founded by Lord Alfred Milner?
(a) A secret society, founded by Lord Alfred Milner, had as its goal the eradication of disease and hunger.
(b) A secret society, founded by Lord Alfred Milner, had as its goal the dominance of the world through money controls.
(c) A secret society, founded by Lord Alfred Milner, had as its goal the democratization of the entire world.
(d) A secret society, founded by Lord Alfred Milner, had global peace as its main goal.

4. 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 a document obtained by the CIA to support the idea of conspiracy to destroy the US economy.
(c) The author used a confidential report found in Congressional archives to support the idea of conspiracy to destroy the US economy.
(d) The author used the minutes of secret Jekyll Island meeting to support the idea of conspiracy to destroy the US economy.

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 bank oversight; debt elimination; and, shifting losses from the taxpayers to banks.
(b) 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.
(c) 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.
(d) 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.

6. When did governmental typically find it necessary to print more paper money?
(a) Governments simply printed more money when needed, usually during times of war.
(b) Governments simply printed more money when needed, usually during political unrest.
(c) Governments simply printed more money when needed, usually during economic downturns.
(d) Governments simply printed more money when needed, usually during legislative battles.

7. What were the sales of English and French war bonds used for?
(a) Most of the money from the sales of the war bonds were spent on German war materials.
(b) Most of the money from the sales of the war bonds were spent on Russian artillery.
(c) Most of the money from the sales of the war bonds were spent on uniforms and supplies for the soldiers.
(d) Most of the money from the sales of the war bonds were spent on American war materials.

8. The sinking of the Lusitania provoked what country to enter into World War I?
(a) The sinking of the Lusitania and the death of its passengers, many of whom were British citizens, brought the England into the war.
(b) The sinking of the Lusitania and the death of its passengers, many of whom were German citizens, brought the Germany into the war.
(c) The sinking of the Lusitania and the death of its passengers, many of whom were US citizens, brought the US into the war.
(d) The sinking of the Lusitania and the death of its passengers, many of whom were French citizens, brought the France into the war.

9. What fraudulent global threat was invented to bring the entire world together?
(a) What developed as the global threat was poverty.
(b) What developed as the global threat was capitalism.
(c) What developed as the global threat was communism.
(d) What developed as the global threat was environmentalism.

10. What realistic scenario was discussed in Chapter 26 involving the U.S. monetary system?
(a) The realistic scenario described in Chapter 26 involved what could happen if the U.S. were to abandon fiat money and go back to money based on platinum, with gold as an auxiliary reserve.
(b) The realistic scenario described in Chapter 26 involved what could happen if the U.S. were to abandon fiat money and go back to money based on silver, with platinum as an auxiliary reserve.
(c) The realistic scenario described in Chapter 26 involved what could happen if the U.S. were to abandon fiat money and go back to money based on silver, with gold as an auxiliary reserve.
(d) The realistic scenario described in Chapter 26 involved what could happen if the U.S. were to abandon fiat money and go back to money based on gold, with silver as an auxiliary reserve.

11. What bank was The Bank of North America modeled after?
(a) The Continental Congress established The Bank of North America in 1781, and it was modeled after the Bank of Russia.
(b) The Continental Congress established The Bank of North America in 1781, and it was modeled after the Bank of Germany.
(c) The Continental Congress established The Bank of North America in 1781, and it was modeled after the Bank of France.
(d) The Continental Congress established The Bank of North America in 1781, and it was modeled after the Bank of England.

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

13. What would be the role of the IMF and World Bank in the new world order?
(a) The IMF and World Bank would force the bust-boom cycle.
(b) The IMF and World Bank would force the new world currency on all nations.
(c) The IMF and World Bank would control cash flow.
(d) The IMF and World Bank would limit lending.

14. What does the author predict for the U.S. economy?
(a) The author predicted that the UN would control the world's currency.
(b) The author predicted that the Federal Reserve would fail and that the US dollar would lose most of its value.
(c) The author predicted that US Congressional oversight of banks would be removed and that the people would be at the mercy of all-powerful banks.
(d) The author predicted that banks would leading to crippling inflation and a new currency.

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

Short Answer Questions

1. After the 1950s, what was the standard of measure used to estimate the US debt?

2. How were some organizations able to profit during the boom-bust cycle?

3. Which European bank become the model for the Federal Reserve System?

4. What financing was behind the second Russian revolution?

5. What was the economic outlook in the U.S. following the Civil War?

(see the answer keys)

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