Phut or Put was the third son of Ham. The name Put (or Phut) is also used in the Bible for the people or nation said to be descended from him, usually placed in Ancient Libya. 
“And the sons of Ham; Cush [ancient Aethiopia], and Mizraim [Egypt], and Phut [Ancient Libya], and Canaan [land of Canaan].” (Genesis 10: 6)
From this, Ezekiel 38: 5 could be read as, “Persia, Ethiopia, and Put with them; all of them with shield and helmet.”
The Put was with them, but not anymore. What The New Yorker magazine called “the Bernanke put” was a quasi-official guarantee by the “Federal Reserve” which propelled a bubble in the bond markets. Via Ben Bernanke’s “Quantitative Easing” (QE), the “Fed” purchased trillions of dollars of Treasury bonds and high-grade mortgage bonds. With this safety net in place already for higher quality bonds, investors took a chance and piled into lower quality bonds — such as “junk bonds” issued by companies with poor credit ratings, and debts issued by governments in emerging markets. 
The Put was with them, but then Ben Bernanke went away to ponder his days and a new logo for “Federal Reserve”, Janet Yellen, appeared. Around July 21, 2015, the “Fed” ordered large banks to prepare for failure. What the “Fed” called “global systemically important banks” were told to increase their capital holdings. 
Remember what Thomas Jefferson said about central banks being able to inflate and deflate at will:
If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered… I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. 
In the front room sit some brainy people, the Board of Governors of the “Federal Reserve”. They learnedly discuss abstract issues. In the back room sits old Mr. Moneybags, the owner. From time to time he growls either “inflate” or “deflate”, and can faintly be heard by the brainy people in the front room. And amazing to say, the learned discussions in the front room will subtly change direction according to whether or not old Mr. Moneybags has said either “inflate” or “deflate.”
So it is somewhat useless to analyze the intellectualities of the front room discussion, as many do. They comb through the latest “Fed” statements looking for clues, while meanwhile it is old Mr. Moneybags in the back room who growls either “inflate” or “deflate.”
When National City Bank and First National Bank merged in 1955, they owned in one block almost one fourth of the shares in the “Federal Reserve” Bank of New York, which really runs the entire so-called “system”. (The other regions are just camouflage used to disguise the New York control.) Chase National Bank and Marine Nation Bank of Buffalo, later known as Marine Midland, also purchased controlling shares in the “Fed.” So did National Bank of Commerce. “The shareholders of these banks which own the stock of the Federal Reserve Bank of New York are the people who have controlled our political and economic destinies since 1914. They are the Rothschilds, of Europe, Lazard Freres (Eugene Meyer), Kuhn Loeb Company, Warburg Company, Lehman Brothers, Goldman Sachs, the Rockefeller family, and the J.P. Morgan interests.” 
“Give me control of a nations money supply, and I care not who makes its laws,” said Amschel Rothschild. By this was meant that control of the money would give power over the making of the laws, just as old Mr. Moneybags in the back room subtly controls the learned discussions in the front room. Said Louis McFadden, Chairman of the House Committee on Banking and Currency, “Every effort has been made by the Federal Reserve Board to conceal its powers, but the truth is that the Federal Reserve System has usurped the government. It controls everything in congress and it controls all our foreign relations. It makes and breaks governments at will.” 
So what is the solution to this problem? Abraham Lincoln may have stumbled upon it during the American Civil War. The preceding imbecilic Buchanan administration had left the cupboard bare. How could Old Abe pay for troops and supplies to help preserve the Union? He asked New York City bankers for help, and they demanded interest payments in the realm of 20 percent per year! That would be ruinous, Lincoln decided. But how was he to get funds? It was at this point that Colonel Dick Taylor traveled to Washington and eventually advised the President to issue treasury notes, based on the good faith of the nation. 
New York City big bankers panicked. Their money monopoly was about to be destroyed! Within days of the passage of the legal tender act, an emergency bankers’ meeting was held in Washington, DC. A Pseudo-Greenback mimicked the real Greenback in appearance. An “exception clause” consummated by act of Congress on February 25, 1862 handcuffed the real Greenback by not allowing it to pay duties on imports and interest on the public debt.  The private money monopoly had been saved!
Later, President John F. Kennedy (JFK) instructed the Treasury Secretary to issue about $4.3 billion in silver certificates as a form of currency in place of “Federal Reserve” Notes. Jim Marrs, author of Crossfire: The Plot that Killed Kennedy, speculated that this order was part of a larger plan by Kennedy to reduce the influence of the “Federal Reserve” by giving the Treasury more power to issue currency. The order was signed June 4, 1963. 
——- Sources ——-
 “Phut”, Wikipedia, September 1, 2015.
 “The Bernanke Put: Can the Markets and the Economy Live Without It?”, by John Cassidy. The New Yorker magazine (online), June 21, 2013. http://www.newyorker.com/news/john-cassidy/the-bernanke-put-can-the-markets-and-the-economy-live-without-it
 “US Fed orders large banks to prepare for failure”, by Tom Bailey. World Finance (online), July 21, 2015. http://www.worldfinance.com/banking/us-fed-orders-large-banks-to-prepare-for-failure
 “Private Banks (Quotation)”, The Jefferson Monticello. http://www.monticello.org/site/jefferson/private-banks-quotation
 The Secrets Of The Federal Reserve, by Eustace Mullins. Kindle e-book edition.
 “Give me control of a nations money supply, and I care not who makes it’s laws”, http://www.trade2win.com/boards/economic-fundamental-analysis/63984-give-me-control-nations-money-supply-i-care-not-who-makes-s-laws.html
 “Evil Salmon Swims in Cabinet”, Ersjdamoo’s Blog, July 30, 2015. https://ersjdamoo.wordpress.com/2015/07/30/evil-salmon-swims-in-cabinet/
 “China Pushes Yuan Even Lower”, Ersjdamoo’s Blog, August 12, 2015. https://ersjdamoo.wordpress.com/2015/08/12/china-pushes-yuan-even-lower/
 “President Kennedy, The Fed And Executive Order 11110”, From APFN. By Cedric X, November 20, 2003. http://www.rense.com/general44/exec.htm