//
you're reading...
Austerity, Commercial banks, Crisis, Debt, Debt-based monetary system, IOU the truth is out, modern banking system explained, modern slavery, Private Banking, Public Banking

The story of how we are being conned by Banks and Governments

Introduction

This post offers an in-depth analysis of the still undiscussed – yet fundamental – reasons behind the global Crisis (Stagflation), Austerity, Debt and Deficit – see summary here; exploring the details of how these global phenomena are intrinsically linked to the money-creating activities of Banks, which altogether lead us to a deeper understanding of the reasons why we need to demand that our Governments would immediately end all Foreclosures, Cuts, Privatisations and Austerity-policies, cancel all Debts – with special regard to the odious National Debts (*Iceland) – and why we need to switch to a democratically managed monetary system – Public Banking – before the effects of the ongoing money-counterfeiting scheme underlying the Private Banking system will reach all of us.

The truth many of us already recognised: there is NO economic justification behind the intensifying Austerity and Spending Cuts and that the role of these policies is NOT to lead us to economic Recovery; on the contrary. It takes no more than Econ 101 knowledge to realise that Austerity triggers a Recession-deepening vicious cycle hence we can conclude: the aim behind these polices is to purposefully intensify the Crisis, which in turn is used to “justify” more Austerity and Spending Cuts.

In the former part of this post we have discussed several implications of what we learned from the recently released official Bank of England document [2] and from a Guardian post [3].

One of these implications is the trick that extant monetary system is a sort of ponzi scheme, ie, DESIGNED to yield a vast number of victims who will inevitably lose out on the scam – those who do the actual productive work – while putting the Banks in the position to be certain winners, despite the fact that Banks do nothing but make loans by creating money out of thin air: by entering digits into their accounting systems.

The fact that 97% of Money in this system is Debt (IOU) is a Catch-22. As long as Money is circulating in the economy as Debt, whenever the Loans are repaid, the Money represented by Debt (IOUs) disappears from the system. This fact alone has tremendous implications. One of them is the conclusion that Debt as such CANNOT and is NOT supposed to be repaid on an aggregate level. Hence the ad nauseam rhetoric echoing that Austerity is “required” to enable our societies to repay our Debts, turns out to be a massive political lie. The scope, effects and implications of this deceit are so vast that the topic requires a longer analysis from multiple perspectives, which this post is aiming at.

The gravest of all implications is that the current monetary system signifies a mega-crime committed by Banks and Governments, for which the term Kleptocracy seems to be most applicable: systematic corruption and thievery by the state or state-sanctioned corruption (Wikipedia)

  • The endless political mantra “justifying” Austerity, spending cuts and the elimination of welfare benefits in our societies explodes with the power of million megawatts once we learn that it is the Banks who commit the THEFT in many $/£/ trillions and it is the astronomical THEFT committed by Banks and Governments that leads to Debt, Deficit, Crisis, Unemployment, Poverty, as well as to all possible – and impossible – macroeconomic dysfunctions.
  • In the final analysis, Austerity is planned poverty; it is the result of the politically enforced systematic corruption – observable all over the world – to make the productive but impoverished masses poorer, and to make the idle, non-productive, yet immensely rich Banks richer. Austerity is poverty imported from the global markets to pull the masses into deeper poverty, in order to push the vast majority into more vulnerable hence more exploitable position, until they will do the work FOR FREE, ie as slaves, for the CAPITALISTS.

Austerity is the economically ideologised version of political fascism to enable the global financial oligarchy to concentrate an unprecedented amount of wealth and power; as such it is the precursor to a global state of neoslavery and neofeudalism, which has recently revealed its openly fascist stage in Ukraine (*)

1. The truth is out: money is just an IOU. So what?

The truth is out [3] yet we can’t see what this truth actually means, just like we can’t see the forest when it is covered by the tree. The fraud is the fact that money is just an IOU. The fraud is that Private Banks use IOUs as if they were Money.

Banks receive Cash and Cash-equivalent-values in exchange for NOTHING. Whenever they buy something, Banks do NOT give away any values that they produced. Banks “pay” with IOUs and IOUs are nothing but mere promises to pay ( = “I Owe U”). And whenever Banks fulfill their promise to pay, they do so by making another promise to pay.

And at the end of this infinite regress the Banks’ payment-promises shall be fulfilled by you and me. Either indirectly or directly. Via Inflation, higher Taxation, Austerity, Cuts, or via bailouts by Governments from Taxpayer-money earned by you and me. Meanwhile the Central Banks provide regular bailouts (“Quantitative Easing”) to Banks whereby Banks receive Money for NOTHING. And the value of the Money that Banks receive, at the end of the day shall be produced by you and me.

In the previous part it was mentioned that the criminal aspect of the modern banking system which allows private Banks to create money out of thin air – in the form of IOUs (loans) – remains unprovable under our current anti-democratic and non-transparent political establishment. However, if rather than digging along the accounting details, we just look at the surface [2] revealed by the Bank of England and by the formerly referenced Guardian article [3], we can realise that the act of private Banks using IOUs as Money – as a means of payment – is by itself the fraud. It does NOT matter if upon repayment of loans Banks make the IOUs disappear from the system. As long as these IOUs exist in the Bank-records, Banks “pay” with these empty records (payment-promises) as if these promises were Cash.

Such act is CRIME as per the objective standard of legality/illegality, inasmuch as theft and money-counterfeiting are supposed to be considered criminal.

2. Why does this topic deserve our special attention?

This topic deserves to be explored to the very core because there is a fundamental difference between presenting this issue:
1) as an ineffective, less-than-perfect monetary/banking system, whereby private Bankers distribute loans as if they were Halloween-candies, and their foolish and greedy behavior triggers certain undesirable financial, macroeconomic and socio-political effects.
2) or as what it is: a mass-scale legalised con, which is used to literally rob our societies on many levels and multiple ways; meanwhile the implementers of this system go as far as blame their victims for the macroeconomic malfunctions and meltdowns inevitably triggered by this self-refuting and crisis-generating monetary system.

In the case of 1) we are paralyzed, assuming that it belongs to the “normal” that is unstable conditions of the dysfunctional capitalist system, when we yet again hear the overused technical term “bubble”. We are left with no actionable information, thus we are inclined to leave it up to the experts to fix the dysfunctional system or to implement a new one.

However, in the case of 2) we are informed of a CRIME, which is a central concern that directly affects ALL of us. Upon confronted with this vital information, we the blamed victims of this legalised crime are motivated to act relying on the last remnants of our democratic rights and institutions.

  • And the blamed victims of this monetary system include almost all of us: all non-Bankers from all socio-economic segments, including all honest politicians, political candidates and all honest finance-economics experts who would prefer to live in a society governed by democratic rule of law.

3. The criminal aspect of Private Banking

Paranoia is just having the right information.’ (William S. Burroughs)

In order to access the very heart of the matter we need to overcome several obstacles, including:

The difficulty to see through a non-transparent and complicated process-flow that has been kept in secret from the public and whenever it is presented, it is blurred by missing inferences and overcomplicated, redundant additions, further burdened by unnecessary technical jargons.

The difficulty to believe that regardless of the esoteric complexity of the system, in contrast with the limited finance-economics knowledge of the vast majority, we can see through the sophisticated scam by relying on our common sense. In addition to basic common sense what we need is a basic understanding of what IOUs and Government Bonds are about.

The difficulty to believe that this is really happening. We are all wired to think of our world as a benevolent one. Most of us have a trusting nature, since we are to be trusted too, so we tend to assume that even if some officials in charge make certain grave mistakes, they still act in good faith. Hence it is next to impossible to believe that the experts of finance, economics, politics, law, etc, who are in the very position to access information on such relevant topic as this is, do not pay attention; or if they do, it signifies something far worse: they intentionally allow such grand-scale crime to continue.

To rephrase above question in the very context of the official source of the revealed truth, the question is if the authors of document [2] realise the meaning of their very own words:

  • “Banks buying and selling government bonds is one particularly important way in which the purchase or sale of existing assets by banks creates and destroys money. Banks often buy and hold government bonds as part of their portfolio of liquid assets … When banks purchase government bonds from the non-bank private sector they credit the sellers with bank deposits.” (p 17)
    “banks create money whenever they lend to someone in the economy or buy an asset from consumers.” (p 25)
  • “The role of the central bank is to preside over a legal order that effectively grants banks the exclusive right to create IOUs of a certain kind, ones that the government will recognise as legal tender by its willingness to accept them in payment of taxes.”
    Government spending is the main driver in all this (and the paper does admit, if you read it carefully, that the central bank does fund the government after all). So there’s no question of public spending “crowding out” private investment. It’s exactly the opposite.” [3]

4. Democracy or the system called “modern banking”

To translate the quoted excerpts into everyday terms: Banks receive Cash and Cash-equivalent values in exchange for NOTHING. Whenever they buy something, Banks do NOT give away any values that they produced. Banks “pay” with IOUs and IOUs are nothing but mere promises to pay (=I Owe U). And whenever Banks fulfill their promise to pay, they do so by making another promise to pay.

And at the end of this infinite regress the Banks’ payment-promises shall be fulfilled by you and me. Either indirectly or directly. Via Inflation, higher Taxation, Austerity, Cuts, or via bailouts by Governments from Taxpayer-money earned by you and me. Meanwhile the Central Banks provide regular bailouts (“Quantitative Easing”) to Banks whereby Banks receive Money for NOTHING. And the value of the Money that Banks receive, at the end of the day shall be earned by you and me.

Anyone can create promises out of thin air, but only Bankers are allowed to pay with mere promises. When non-Bankers attempt to pay merely with promises, they face serious legal consequences. Yet, in our era, which is erroneously referred to as ‘democracy’, the Bank-issued payment-promises count just as much as the hard Cash that everyone else needs to earn by producing valuable products and services. Moreover, the entire world is legally forced to accept these Bank-promises as an equivalent of “Cash”.

  • In our up-side-down “democracy”, when at the time of Crises the financial system zeroes in on those who did the actual productive work from the received loans, the money-counterfeiting Banks – who are responsible for the very existence of these Crises and who provide these loans by merely entering worthless records into their system – are becoming the winners. Even though the Banks produce NOTHING and trigger the Crises by their activities, they remain the legally recognized owners of the real assets/estates that the borrowers produced by real work and/or purchased by earned Cash, but got stranded by the negative effects of the Crises. The quote referenced under [8] clearly demonstrates that the members of the financial sector regard themselves as the ‘rightful owners’ of all the assets that others produced, which assets, at the time of Crises, ‘finally return to them’. (!)

To establish such a strikingly unjust double-standard along the line between activities of the non-productive Banking sector and of the spheres of production, signifies a blatant abolition of the democratic rule of law, hence the abolition of the very foundation of democracy. Granting certain individuals – the Bankers – the unique privilege to receive values without giving up any earned value in return, features a prehistoric socio-economic system, whereby the feudal Lords are legally allowed to confiscate the wealth that is produced by the Serfs.

5. The macroeconomic effects of mass-scale money-counterfeiting

“The assets of the three banks taken under the control of the FME totaled 14.437 trillion krónur at the end of the second quarter 2008, equal to more than 11 times of the Icelandic GDP” [4]

The worth of Private Bank-owned “Assets” – in fact empty IOUs handled as “Assets/Cash” – that was said to be 11 times of the country’s GDP – sheds light onto the staggering volume of fake money the Private Banks loaned into the economy of Iceland. The subsequent hyperinflation then caused an unprecedented Crisis and unfathomable suffering in the country, until Iceland’s peaceful revolution gave rise to a new democratic political leadership who – rather than continuing the Bank-bailouts – introduced the proper measures against Banks. [5]

From another approach it becomes evident that underlying the unprecedented malfunctions of this macroeconomic system it is the astronomical amounts of counterfeited money issued by Private Banks that triggered and maintains an otherwise impossible mix of deepening Crisis, increasing Debt/Deficit and intensifying Austerity. The presence of the staggering amounts of artificial funds (IOUs) in the macroeconomic system is what triggers and maintains the Inflation, and the politically enforced Austerity – which is to contract the economy and to avoid hyperinflation – deepens the continuing Recession, which altogether yields an otherwise impossible combination of macroeconomic maladies termed Stagflation. Moreover, in most economies we can detect the equally unimaginable co-existence of Inflation and Deflation. Yet, our leaders, who are supposed to be the most knowledgeable in these matters, and who yet keep Austerity and the entire Banking System in place, do not even attempt to end this global catastrophe via proposing an effective way to Recovery. Instead they keep hammering our societies into Austerity, which as we speak, effectively comes down to genocide. [6]

At least now, after learning the very basis of this global financial meltdown, we can understand the ultimate reasons. The money-counterfeiting scam underlying extant monetary system explains the otherwise inexplicable macroeconomic phenomena, it explains the reason why the Crisis is progressively worsening for the vast majority, while the “top” 1% – especially Banks – are swimming in large stock of cash and real estates.

6. The contradiction that feeds Debt, Crisis and Austerity

This topic deserves our special attention also for another social-economic reason. As it was already discussed in the former part, this Debt-tied monetary system leads us to understanding the most fundamental reason why we are locked into the current Crisis, Debt, Deficit and Austerity. It is hard to imagine more profound deception than the worldwide political narrative according to which Austerity is “needed” because of the Debt our societies are carrying. As we learned from the highest official authority itself [1]: 97% of all Money is BOUND to be Debt in the system, which in turn implies: the Loans we are supposed to repay are NOT supposed to be repaid – once it would be repaid, the system would collapse.

  • Yet another point that proves that it is downright IMPOSSIBLE to repay all Debts: whenever Banks make loans they only issue the amount of new monetary units that covers the base amount (principal) of the Loan, however no one creates the money to cover the value of future interests to be paid back together with the principal. Yet, a massive army of economists, politicians and journalists keep yelling into our ears: these Debts – including the vast amounts of interests to be paid on thin-air money – must be repaid, otherwise more Austerity and Cuts will follow.

We just can’t emphasise enough the importance of understanding the unspeakable deceit underlying above self-contradiction. In the private banking system that the Lords invented and imposed onto all of us, Debt is not only inevitable, but Debt is the very cement of the system. In other words, this monetary system controlled by private Banks is designed such way that most of the Money is Debt-Money, yet we Serfs – the vast majority who are deceived and robbed by this con – are blamed for and forced to suffer the Austerity-consequences of this Bank-created Debt-Money, since the Lords: politicians and their finance-economics lobbies, regularly refer to this Debt-Money as the “reason” why our societies “can’t afford spending on education, healthcare, infrastructure, welfare benefits, etc.”

7. Austerity: Serfs blame themselves for the Lords’ crimes

If it is possible to establish a gravity-rank among the implications of the mass-scale deceit underlying this issue, the victim-blaming aspect of Austerity is probably the most outrageous of all.

Our societies have been made believe, that Austerity is necessary because we Serfs don’t work hard enough to pay back our private and public Debts. The oft-mentioned case in point is Greece and other singled-out victims referred to as the “PIGS countries”. Moreover, not only countries but all continents – such as Europe- have been accused of laziness and ineffective productive strength while being compared to the “super-diligent” – in fact heavily financed – China.

To substantiate their consistently maintained lies, the Lords made more and more of us believe that it is “moral”, even virtuous, to simply abandon the poor, the sick, the disabled and everyone who are left unemployed by this dysfunctional financial-economic system, and it is okay to let them suffer and die without financial help, because helping them requires taxing the rich and collecting taxes from the rich is THEFT.

  • The above oft-heard rhetoric “justifying” Austerity, Cuts and the elimination of welfare-benefits in our societies explodes with the power of million megawatts once we learn that it is the Banks who commit the THEFT in many $/£/ trillions and it is the astronomical THEFT committed by them that leads to Debt, Deficit, Crisis, Unemployment, Poverty, as well as to a combination of all possible – and impossible – macroeconomic dysfunctions.

In the UK the Lords went as far as produced a reality show [7] in order to dramatise their deceitful narrative that “the wages paid to hard-workers are low because of the benefits that their lazy (=sick, disabled, etc) fellow-citizens claim from the system”. And the Lords’ divide-and-rule strategy, as always, works like a charm. One of the many proud members (usually right-wing propagandists!) of the still working segment of the poor complains: “they (the claimants) don’t give back anything for the money they take” [7]

Upon hearing such victim-blaming manifesto from a victim’s mouth, one may seriously start wondering: are they really so brainwashed that they blame themselves and blame their fellow-victims, which means, they blame the victims they will certainly become in due course? If so, how would these victims react if they would learn: it is the Banks who don’t give back anything for the £ trillions they take and it is the richest of all who distribute free Money to the very circles where Nick and Margaret belong?

8. Inequality explained

One of the main elements of the pro-capitalist free-market ideology is the proposition that inequality is a sort of “necessary evil”, an inevitable byproduct of a free society that is governed by the democratic rule of law, and such rhetoric often attempts to justify Austerity as a manifestation of such byproduct, whereas taxing the Banks and corporations are often referred to as “theft”. This analysis however has shown that in fact the opposite is true: the way how this system is operated by the richest – the Banks – is THE theft; it violates the very foundations of what capitalists are so proud of not violating: the non-aggression principle. Moreover, the sole reason for Austerity, Cuts and all policies reducing government Spending are to contract the economy, to offset the inflationary effects of Bank-created fake Money (IOUs). Hence the production-sphere in constructive areas is forced into a poverty-spiral to compensate for the vast amount of non-value representing money circulating in the economy.

To a limited degree inequality can be explained by the fact that the varying mix of an individual’s talents, ambitions, diligence and other personal differences entails our unequal contribution to the society. (In addition to any approach limiting ALL values to those that are economically measurable, there are many other flaws in the justifications of social-economic inequality – but that is a topic beyond the scope of this post.)

However, during the past few decades inequality exploded so grossly out of proportion that orthodox explanations can be no longer held sufficient, either with reference to the predatory profits the largest corporations “earn” on the global unregulated markets, and/or by consideration that these global corporations consistently evade paying taxes. Nothing and no one can explain the mathematical impossibility underlying the current outlandish economic distortion reflected by extant inequality figures. Even without reading this topic, no one in his right mind would seriously believe that whole countries and continents “owe” debts of trillions of monetary units to a small global minority of individuals, and no one would believe that those who work in the financial sphere contribute more worth to the economy than those who do the actual work by creating real products and providing real services. Yet it is the latter vast majority, called productive sphere, who are indebted to the former vanishingly small minority – called Banks.

This fact alone is the proof: something does not add up underlying the very system – capitalism or not, global or not – that leads to such impossible outcome.

9. The contemporary way to colonise and control continents

By this continuing scam, ending up in millions of foreclosures whereby Banks receive $ trillions worth of real assets for the spectacular nothing they offer, the Banks have become owners of whole cities and towns in many countries. Moreover, the scope of Banks seizing resources and assets affects entire countries and continents.

When the money-counterfeiting activity is going on in $ trillions, it is not merely a legalised felony, it is the modern way to wage wars, to colonise, to financially enslave and impoverish countries and continents. It is an invisible yet equally effective way of genocide. The unspectacular, unnoticeable economic world-war that kills us one by one, rather than all of us at once. It is convenient for the Lords, because they aren’t seen as who they are: war-monger aggressors, but celebrated winners and peaceful, democratic society-builders.

And we Serfs can’t fight back because we can’t see the economic and financial weapons  shooting at us. Even if we can sense their bullets, we don’t understand how they are used against us and how to defend ourselves.

In order to understand how this financial scam is used to conquer, plunder and control countries and continents, and how and why we should refuse taking on the effects of this con, we need to get into the topic of Government Bonds, to the ongoing issue of Governments borrowing large funds from the rich, rather than simply collecting taxes from them.

10. At the heart of the matter: the Bonds that create unlawful bondages

Bond is just another name for an IOU. Government Bonds are special IOUs whereby a Government borrows  usually very large sums, usually from very rich sources, which evidently the Banks are.

Government Bond is another term for a Government’s promise (IOU) – on your and my behalf – to pay back the borrowed funds (+ interests) to those who provide the Loans (typically Banks)

When Governments receive these borrowed funds from Banks (in technical terms: when Banks “buy” these financial assets – Bonds – from Governments), the transaction does NOT imply that Banks withdraw any funds from their prior earnings; Banks extend these loans to Governments by creating money out of thin air, that is by issuing a promise to pay (IOU) – a promise that will be fulfilled by you and me.

The two sides of these phony transactions between Banks and Governments that create the many £ / € / $ trillions of odious (illegitimate) Sovereign Debts and Tax burden for the citizenry of all countries of the world:

  • 1) The Bank ‘buys’ Bonds from the Government – lends money to the Government – from the NEW money that the Bank creates for the transaction; that is, the Bank ‘pays/lends’ funds by merely issuing an empty IOU to the Government; which means, the Bank promises to pay X amount + y interests to the Government.
  • 2) The Government ‘sells’ Bonds to the Bank – borrows money from the Bank – that is, the Government issues an IOU to the Bank in exchange for the Bank’s IOU; which means, the Government promises to pay X amount + z interests to the Bank, in exchange for the Bank’s promise to pay X + y to the Government.

The summary of the implications of above transactions is posted here.

But the story does not end here. If we citizens don’t work hard and “efficiently” enough to produce the value for the empty money (IOUs) issued by Banks – in other words if the Bank-issued non-value carrying fake money triggers the danger of hyperinflation – then the Central Bank – Fed, Bank of England, ECB, etc – bail the Banks out via Quantitative Easing, which means Banks will receive Money for NOTHING from the Central Banks, and the value of this Money shall be produced by you and me. With reference to the promises the Governments make on our behalf the Government shall apply Austerity measures to indirectly contract the Money-supply in order to prevent hyper-inflation, or for the same purpose, directly contract the amount of Money by the Central Bank printing less Cash. Which means further withdrawal of funds from our pockets.

11. The grandest fraud in the history of mankind?

Does the above story sound like the most sophisticated entrapment and most comprehensive con in history, committed at the expense of many deceived millions, in fact billions of us? Can the Reader spot himself/herself at the paying end at all nodes of this money-counterfeiting scam?

And this legalised mega-theft is what most Governments guard as “peace and democracy” all over the world; this is why regime-change was so “necessary” in Iraq, Syria or Ukraine, and this is the very danger all countries face who resist this global financial dictatorship. And whenever the citizens rise up against Austerity and Poverty, these “democratic” Governments deploy brutal police violence against us, and these bloody events are left uncovered by the Bank-owned mass-media.

Private Banking signifies the lack of democracy in our societies, since these unelected self-serving Lords – the Bankers – hold the ultimate privilege to make all decisions over all life-and-death matters. While Banks owe nothing to no one, we as individuals and societies are indebted to them. Banks, who are in power over us, decide on questions which cities, countries and continents receive the opportunity to develop (eg China), and which cities, countries and continents are to be condemned to decay (eg Detroit, US, Europe and Japan).

Banks decide which individuals will be enabled to erect global corporations, while letting everyone else to be suffocated in Debt-slavery. Banks decide if schools and bridges will be built, or more weapons will be manufactured and sold.

Since Banks create the very Money that they spend, they have endless funds to keep all strategic political parties, businesses and individuals in their pockets. For the Banks there is no such thing as “running out” of Money – if so, all they need to do is just enter another very long number into the system and add a dollar, pound or euro sign. Banks channel the investment of the Money they create NOT into what society needs: infrastructure, green energy, affordable housing, etc, but into securing their very own wealth, power and control: into their lobbies and stakeholders, into anti-democratic Bank-serving politicians, into bureaucrats securing free-trade areas for themselves and for global Corporations, into Governments who borrow from them, into more wars to gain more financial markets to con and plunder, into buying and bribing more mass-media outlets, politicians, political parties, trade unions and union-leaders. And the Banks – as it is evident from their privilege to create money – have access to endless funds for financing extremist movements (as in Ukraine) armed rebels (as in Syria) and for creating terrorist-masked “reasons” for more and more regime-changes towards a Bank-ruled fascist system.

12. How long can we be robbed, deceived, controlled – and exterminated – this way?

Forever. More precisely, until the end of mankind. Evidently, it is the Lords’ interest to maintain this system as long as we allow it to be as it is. This is the very monetary system through which Banks grabbed and maintain power over all countries and continents. This is the system by which Banks have gained control over the world and plundered an unprecedented wealth from the productive masses. This is why the Lords will make sure that this system will stay as it is and this is why our passive waiting for a final crash: our expectations for a dramatic pivotal point, a rock bottom that will drive economy towards an effective Recovery, shall remain idle.

The system will stay. As long as the Lords prefer to maintain this artificial system they will have to make sure there is plenty of Money in the economy, which requires a vast amount of Debt remaining in the system, and the most effective way to keep an astronomical amount of Debt in the system is to keep public Debt and Deficit as high as possible and in as many countries as possible. This is why Governments keep borrowing more and more – even while they preach ‘they can’t afford borrowing any more’ – and this is why they will always lift the Debt-ceiling higher and higher.

The more Debt, the more Money in the economy and more “justification” for Austerity – an Eldorado for the Lords.

This is why the projected final financial collapse – that so many of us believe will happen soon – will NEVER happen; at least not on a society-wide basis. Since this monetary scheme is artificially maintained, it is globally effective and very carefully devised, therefore it will go on as long as we – as societies – allow it to go on. The final collapse will happen only to each of us one by one, but soon enough it will reach everyone and it will be fatal on each individual basis. – In Greece the recent dramatic increase in suicide is linked to Austerity [6] – This is a gradual, nevertheless certain way to exterminate many millions, eventually billions on the planet.

13. What can we do to restore democratic rule of law and achieve economic Recovery?

In the final analysis, Austerity is planned poverty; it is the result of the politically enforced systematic corruption – observable all over the world – to make the productive but impoverished masses poorer, and to make the idle, non-productive, yet immensely rich Banks richer. Austerity is poverty imported from the global markets to pull the masses into deeper poverty, in order to push the vast majority into more vulnerable hence more exploitable position, until they will do the work FOR FREE, ie as slaves, for the CAPITALISTS.

Austerity is the economically ideologised version of political fascism and as such the precursor to a global state of neoslavery and neofeudalism, which has recently revealed its openly fascist stage in Ukraine.

If we wish to reverse this alarming trend, to prevent Governments backing the ongoing global crime that would eventually subject mankind to third-world level poverty under an Orwellian fascists state on a Bank-owned planet, we need to reclaim our national sovereignty and financial independence from the global financial governance marked by IMF / EU / Troika, and need to end the globally effective crime “Private Banking system”.

To achieve political – and economic – Recovery from the global Crisis we need to abandon the traditional Left- Right division and unite our forces under one common purpose: to reclaim our democratic rule of law.

It is for this very purpose that we need to support and/or create political parties with the agenda
– to end the current financial system
– to nationalise central banks, ie to bring all money-supply under democratic management, control and oversight
– to implement monetary and fiscal policies towards effective Recovery, which is possible ONLY via a national democracies entering a new socialist New Deal [9]

Long before political forces with above agenda would emerge, we should demand that Governments would end all Austerity-polices and all Foreclosures. Today.

Back to Part 2

References / related posts:

[1] GlobalResearch: “The Moral Hazard of Modern Banking: How Banks Create and Destroy Money”
http://www.globalresearch.ca/the-moral-hazard-of-modern-banking-how-banks-create-and-destroy-money/25230

[2] Bank of England: “Money creation in the modern economy”
http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q102.pdf

[3] Guardian: “The truth is out: money is just an IOU, and the banks are rolling in it”
http://www.theguardian.com/commentisfree/2014/mar/18/truth-money-iou-bank-of-england-austerity

[4] 2008–11 Icelandic financial crisis
http://en.wikipedia.org/wiki/2008-11_Icelandic_financial_crisis

[5] Max Keiser: Icelandic people on economic terrorist bankers
http://www.youtube.com/watch?v=d0UHqQCqHTM 

Top Economists: “Iceland Did It Right … And Everyone Else Is Doing It Wrong”
http://www.washingtonsblog.com/2012/08/top-economists-iceland-did-it-right-everyone-else-is-doing-it-wrong.html

[6] Guardian: “Austerity in Greece caused more than 500 male suicides, say researchers”
http://www.theguardian.com/world/2014/apr/21/austerity-greece-male-suicides-spending-cuts

[7] Nick and Margaret We All Pay Your Benefit
http://www.youtube.com/watch?v=Kh-th2P52A4

[8] ‘In a crisis assets return to their rightful owners’ (i.e. him) ~ Andrew Mellon (US banker, Secretary of the Treasury 1921-32)

[9]

Crisis vs Recovery

(* Iceland) Icelandic People Said No
http://www.youtube.com/watch?v=TjyuPRIoCeE

In the Wake of Economic Collapse. Iceland’s Election: It’s not about Left and Right
http://www.globalresearch.ca/in-the-wake-of-economic-collapse-iceland-s-election-it-s-not-about-left-and-right/13407

Wikipedia / Kleptocracy: “systematic corruption and thievery by the state or state-sanctioned corruption” (Kleptocracy)

European Parliament Member Godfrey Bloom exposes Banking system as money-counterfeiting scam:
http://youtube.com/watch?v=4RF3Lr4XI4w
http://youtube.com/watch?v=hYzX3YZoMrs

Lords and Serfs (1): ‘modern banking system’ or the grandest fraud in history?

Lords and Serfs (2): ‘modern banking system’ or the grandest fraud in history?

How Banks Create & Destroy Money – A Guide to the Eurozone Monetary System
http://sensiblemoney.ie/data/documents/How-Banks-Create-and-Destroy-Money.pdf

The Biggest Scam In The History Of Mankind – Hidden Secrets of Money
https://www.youtube.com/watch?v=iFDe5kUUyT0

(*Ukraine) Ukraine receives first $3.2 billion from IMF

Advertisements

About Sky Wanderer

Global Political Analysis, Research & Commentary. Multidisciplinary research and analysis revealing the big picture of the global status quo versus the mainstream myths. Searching the way out of the global financial tyranny and slavery, before the system ends up in a full-blown version of global fascism.

Discussion

3 thoughts on “The story of how we are being conned by Banks and Governments

  1. An execellent piece of work

    Posted by dougwright66 | June 13, 2014, 6:01 am

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow Sky Wanderer @glopol_analysis on Twitter

The mission of this blog

"Journalism is printing what someone else does not want printed: everything else is public relations." ~ George Orwell

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 6,251 other followers

Follow Global Political Analysis on WordPress.com