“Let me issue and control a nation’s money and I care not who writes the laws.”
Mayer Amschel Rothschild
(1744-1812), founder of the House of Rothschild
INTRODUCTION
Where money and wealth rules
politics, geo-political empires have become a mere instrument and façade for
one empire that rules over all others – ‘The Empire of Money’. This has been the case since the plutocracies of imperial Greece and Rome,
since the abolition of ‘tally sticks’ as debt-free money in England, the
deliberate use by the English of counterfeit notes to undermine the debt-free
forms of ‘scrip’ or paper money issued by the colonists in American, the
creation of the Bank of England and funding of King George’s war against the
colonists by the Rothschild banking empire. And today it is the likes of Goldman Sachs
that rule - not Europe and not the United States empire.
The Empire of Money would have us
believe that nation states are long out of date and is all in favour of
‘Unions’ of all sorts, not just the ‘European Union’ but the once free Union of
States it turned into ‘The United States’ – now nothing but a military and
police state serving the Empire. On the other hand, any nation or union of
nations that seeks to be or once again become an imperial political power is immediately
targeted by the Empire of Money - not for the purpose of political but of financial
‘liberalisation’ i.e. monetary and political subservience to the Empire of
Money. Hence the recent liberalisation of private banking in both China and
Russia. The Empire of Money is what the German thinker
Ernst Jünger
would have called ‘the Leviathan’. Political and military-technological empires
are merely its titular ‘Titans’ - creations of the One God it worships - Money.
As with other religions, along
with the religion of money – what Marx called ‘The Monotheism of Money’ - goes
a mythology. The Empire of Money however, is based on a religious myth
different from that of other religions in a most fundamental respect. Why?
Because it dare not even speak its name lest it be recognised as the monumental myth that it is. The
concealment of this myth is therefore truly a ‘conspiracy’ in the root sense of
the word – for only the rulers of the Empire of Money recognise it as a myth. The truth it conceals is
‘breathed together’ (con-spirare) behind the closed doors of bankers’ boardrooms
and invisible financial cabals.
THE
MONUMENTAL MYTH
What then is this monumental myth
- a myth that underpins the entire Empire of Money. The myth is a mythical belief – a belief that is so ubiquitous
and so ingrained in the minds of economists, the mass media and political
parties of all colours that it is never even formulated outright, yet alone
questioned. It is the unquestioned
belief that the public spending of governments is dependent on either taxation
or on borrowing from private bankers. With this belief firmly in place, and
to meet their ever-growing debt obligations, governments either have to tax
more, borrow more, and/or impose draconian cuts in public spending on their
people. For once in the grip of debt ever more government taxation and/or ever
more brutal public spending cuts are
required merely to repay the interest on accumulated debt to the Empire
of Money.
For the Lords of the Empire of
Money demand their money back – even if they themselves have lost it through
their greed to extend loans to individuals and nations who need them because
they can no longer afford to ‘live
within their means’. This is the new,
neo-feudal face of capitalism – the Lords demand their tithe of the Gross
National Product of nations - and ensure they get it because it is built on the
quicksand of loan money. They do so through means of a Big Lie - one necessary to support the basic mythical belief on
which the Empire depends. This is the lie – also believed and propagated by the
press, media and political parties of all sorts - that the only way of reducing a country’s ‘national debt’ is through
massive cuts in public spending and in people’s incomes, pensions, public
services, benefits etc.
MAKING MONEY FROM NOTHING
Where, one may ask, does this
loan money that is so generously offered to individuals or businesses by the
banks – or else forcefully imposed on whole nations - come from in the first place? Herein lies yet
another unquestioned myth whose hidden and secret truth is known only to the few – the 1% that rule the
Empire of Money. As mere serfs or slaves we are led to believe that banks lend
money that we, as savers, deposit with them. In reality, nothing could be
further from the truth. Banks quite
literally create money from nothing – simply by keying any figure that is
desired into a borrower’s electronic computer account. Once keyed in however,
this figure counts as money belonging to the bank – allowing the bank in turn
to demand that borrowers pay that sum
of money to the bank out of their earnings
and their savings, and that along
with a nice bit of interest on top. The bank itself does nothing to earn money except by making money from
nothing – as fictitious loan money for which it then demands hard-earned money
from the borrower.
What if you could use your
personal computer to digitally key in any figure they wanted into other
people’s computer accounts as a ‘loan’ - and then demand that they pay you back
this money at interest – even though the money itself was created from nothing
- just through a few strokes on a keyboard? If this sounds like a dodgy scam,
then it is no wonder that The Empire of Money doesn’t want us to know that this
is exactly how the entire banking system
works.
For when you take out a loan from
a private bank what you are really doing is giving the bank permission to create the very money you borrow from
nothing, after which they then claim it as theirs and demand you to give it back to them - at
interest!
To add insult to injury - if
loans that private banks use to ‘make money from nothing’ turn out to have been
too risky, then governments spend billions or even trillions of pounds of our
money to bail these banks out. The banks
on the other hand, begin to hoard their money – no longer lending to individuals,
small business or even to each other, but raising bank charges and interest
rates and refusing mortgages.
The real reason why so many countrys’
national debt is so high is because they long ago surrendered a basic national
right to international bankers. This is the sovereign right of a nation to
directly create and issue its own publicly-created money instead of:
(1) borrowing money from private
bankers, and
(2) using public money not just
to pay off the ever-spiralling interest on our debt to them - but also spend
trillions to bail out the Big Banks!
Another reason is that more than
90% of the entire money supply of nations
is not created as paper money or coins, but exists in the form of electronic or
digital money created and owned by the banks as ‘debt’. The Big Banks therefore
wield an all-powerful ‘Sword of Damocles’ over governments. For were these
banks to collapse so would virtually the entire money supply of nations. That is
the real reason why the banks are seen as ‘too big to fail’. They would
collapse also if all debts to them were paid off in one go – for their financial
‘assets’ consist of nothing but debts.
THE HIDDEN TRUTH
Behind the myths and big lies on
which the Big Banks depend however is a basic hidden truth - one which no one
in the Empire-controlled media or political and economic debate is aware of or
would dare to speak of.
This hidden truth is that if private banks both can and do ‘create money from nothing’ then so also could states and governments - not as debt to private banks but as public money created and spent for the
benefit of the people and not the bankers i.e. for the benefit of the ‘99%’ and not the ‘1%’ who rule the Empire
of Money.
To ward off and counter this truth yet another Big Lie is
propagated and yet another myth accepted as fact. This is the myth that
publicly created money would lead to ‘hyperinflation’. Yet if government
treasuries could directly issue and create the money supply of nations directly,
they could also decide how much money
to inject into the economy during any given period in order to avoid inflation.
The task of governments would
then only be to decide what that
money is spent on i.e. anything but paying
off vast quantities of debt and interest to private banks - which is what most
public money is currently spent on. Thus
countries would be better off no matter how much money they issued. The ‘hyperinflation’ myth arose from the
example of Germany, which was deliberately saddled by the Allied powers – in
reality the Empire of Money - with crippling debt and reparation payments after
the 1st World War.
“The Treaty of Versailles had
imposed crushing reparations payments on the German people, who were expected
to reimburse the costs of the war for all participants — costs totaling
three times the value of all the property in the country.” Ellen Brown It was precisely because the
then bankrupt Germany did not default on its debts to the Allied powers and
did not seize the opportunity to
issue public money directly that it left the Deutschmark open to financial
speculation – the real reason for the hyperinflation. Ellen Brown: “….it
was the privately-owned Reichsbank, not the German government, that was pumping
new currency into the economy. Like the U.S. Federal Reserve … it was
operated for private gain. What drove the wartime inflation into
hyperinflation was speculation by foreign investors, who would sell the mark
short, betting on its decreasing value. In the manipulative device known as
the short sale, speculators borrow something they don't own, sell it, then
"cover" by buying it back at the lower price. Speculation in the
German mark was made possible because the Reichsbank made massive amounts of
currency available for borrowing, marks that were created with accounting
entries on the bank's books and lent at a profitable interest. When the
Reichsbank could not keep up with the voracious demand for marks, other private
banks were allowed to create them out of nothing and lend them at interest as
well.” As a result, “People were living in hovels and starving. Nothing quite
like it had ever happened before - the total destruction of the national
currency, wiping out people's savings, their businesses, and the economy
generally. Making matters worse, at the end of the decade global depression
hit. Germany had no choice but to succumb to debt slavery to international
lenders.”
SUMMARY
One need not take the arguments
of this article alone as proof of what it claims to be the monumental myth and
Big Lies underpinning that global financial system which I call ‘The Empire of
Money’ – a system which allows a minority of bankers to rule the politics of
nations and political empires and to ‘make money from nothing’ through debt.
Instead one need only take heed of those rare confessions which have come from
the bankers themselves – in the full recognition of the fact that: “The few
who understand the system will either be so interested in its profits or be so
dependent upon its favours that there will be no opposition from that class,
while on the other hand, the great body of people, mentally incapable of
comprehending the tremendous advantage that capital derives from the system,
will bear its burdens without complaint, and perhaps without even suspecting
that the system is inimical to their interests.”
The Rothschild brothers of London
writing to associates in New York, 1863
CONFESSIONS OF THE BANKERS
“The bank hath benefit of
interest on all moneys, which it creates out of nothing.”
William Paterson, director of the
Bank of England
“I am afraid the ordinary
citizen will not like to be told that the banks can and do create money. And
they who control the credit of the nation direct the policy of Governments and
hold in the hollow of their hand the destiny of the people.”
Reginald McKenna, as Chairman of
the Midland Bank, addressing stockholders in 1924
“The modern banking system manufactures money
out of nothing. The process is perhaps the most astounding piece of sleight of
hand that was ever invented.”
“The bankers own the world.
Take it away from them, but leave them the power to create money and control
over that money, and they will create that money right back again. Take this
power away from bankers and all great fortunes will disappear, and they ought
to disappear, for this then would be a happier, better world to live in … But
if you want to continue to be slaves to the banker and pay the cost of your own
enslavement, then let the bankers continue to create money and control credit.”
Josiah Stamp, director of the
Bank of England during an informal talk to about 150 history, economic, and
social science professors in the late 1920′s at the University of Texas.
“The banks do create money.
They have been doing it for a long time, but they didn’t realise it, and they
did not admit it. Very few did. You will find it in all sorts of documents,
financial textbooks, etc. But in the intervening years, and we must be
perfectly frank about these things, there has been a development of thought,
until today I doubt very much whether you would get many prominent bankers to
attempt to deny that banks create it.”
H.W. White, Chairman of the
Associated Banks of New Zealand, to the New Zealand Monetary Commission, 1955
“Banks lend by creating
credit. They create the means of payment out of nothing.”
Ralph M. Hawtry, former Secretary
to the Treasury
“Commercial banks create check-book
money whenever they grant a loan, simply by adding new deposit dollars in
accounts on their books in exchange for a borrower’s IOU.”
The Federal Reserve Bank of New
York
“This is a staggering thought.
We are completely dependent on the Commercial Banks. Someone has to borrow
every dollar we have in circulation, cash or credit. If the Banks create ample
synthetic money, we are prosperous; if not, we starve. We are, absolutely,
without a permanent money system. When one gets a complete grasp of the
picture, the tragic absurdity of our hopeless position is almost incredible,
but there it is. It is the most important subject intelligent persons can
investigate and reflect upon. It is so important that our present civilization
may collapse, unless it becomes widely understood, and the defects remedied
very soon.”
Robert H. Hemphill, Credit
Manager of the Federal Reserve Bank, Atlanta, Georgia
Congressman Patman: "How did you get the money to
buy those 2 billion dollars’ worth of Government securities in 1933?”
Governor Eccles: “We created it.” Patman: “Out of what?”
Eccles: “Out of the right to issue credit money.”
Patman: “And there is nothing behind it, is there, except
our Government’s credit?”
Eccles: “That is what our
money system is. If there were no debts in our money system, there wouldn’t be
any money.”
Dialogue notated during hearings
of the House Committee on Banking and Currency, September 30, 1941. Members of
the Federal Reserve Board call themselves ‘Governors.’ Eccles was Chairman of
the Federal Reserve Board at the time.
IS THERE AN ALTERNATIVE?
Is there an alternative to the
rule of ‘Wall Street’ and the entire global Empire of Money. Yes there is - but only
if the unquestioned myths and big lies that underpin it are exposed. Only
then can the central goal of a people’s revolution be defined i.e. to re-affirm and re-institute the sovereign
right of all nations and states (including the states of the U.S.A.) to
issue their own publicly-created money without borrowing from private banks and
for the benefit of the people and not the bankers. The institution of public money creation and public banking through ‘People’s Banks’
- communal, regional, state and national, must be the key aim of ‘Occupy’
movements or movements of resistance to ‘debtocracy’ such as those in Greece and
Spain. To achieve this aim many or all of the following steps will be
necessary, albeit not necessarily in the order listed:
·
Organisation of Local People’s Councils in different regions, town and enterprises.
·
Creation of a National People's Militia to arrest
all puppet politicians serving the Empire of Money and prosecute
criminal bankers for dealing in fraudulent debt assets and derivatives.
·
Election of new National People’s Assemblies from these Councils.
·
Creation of new People’s Currencies in different regions and municipalities.
·
Creation of a single new National People’s Currency to unite these local currencies.
·
Centralisation
of money creation and money supply in the hands of National People's Banks.
·
Rejection
of all so-called ‘rescue packages’ from international banks such as the ECB and
IMF - which just impose yet more debt on nations – but only to rescue the banks.
·
Defaulting on all existing ‘national debt’ to
the international banks.
·
Cancelling all privatisation programs and
‘austerity measures’ - instead using public money to aid the people and restore
the economy.
·
Enforced
prevention of all capital outflows from the nation.
·
Promotion of ‘inter-nationalist’ cooperation and
trading agreements with other states, nations and peoples who win back power
and sovereignty from the international banks.
·
Bringing down the Dollar and Euro i.e. calling
upon the Greek people to restore the Drachma, the German people to restore the
Deutschmark - and the people of the United States to restore an equivalent of the
Greenback (the first paper currency to be issued as publicly created money).
FURTHER LINKS AND RESOURCES
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