Earthlinggb's Blog

The key to Humanity’s liberation

Posted in Finance by earthlinggb on January 29, 2010

The liberation of human beings involves knowing about the money-as-debt fraud.

The majority of economists do not know how money is created; however, usury or charging interest is regarded as a “sin” in most religions of the world, throughout history, with the exception of Judaism. Just fact.

The penultimate step in this conspiracy was the creation of the United States Federal Reserve. In 1913 a select group of bankers (Warburg, Rockefeller, Morgan, Kuhn, and representatives of their European bosses) met together on Jekyll Island and founded the Federal Reserve. The fact was reported in the news papers of the time, although not surprisingly Americans were not told of the real reason for the meeting. Thanks to the financial crises of 1909 and 1929, engineered by this group of putatively Zionist bankers, the Fed was able to usurp control of the Public Treasury and the issuing of money. The inclusion of the All-seeing Eye (the symbol of the Bavarian Illuminati) on all American banknotes is the best overt representation of this.

As with 109 of the central banks of other countries, the Federal Reserve is a private bank whose purpose is to lend money to the State. Between 1917 and 1933, this entity succeeded in usurping the government’s faculty as issuer of the national currency. Speaking of the setting up of the Federal Reserve, approved as it was by Congress at Christmas when many congressmen were on holiday and signed by President Woodrow Wilson, Wilson himself was to confess in 1922: I have betrayed my country and I have sold it for generations to come. Charles A. Lindbergh senior (father of the famous flyer whose son was kidnapped) was the only congressman to stand up in public and decry this act whereby the United States was sold to a handful of bankers (and the same went for the rest of the world).

Britain had already succumbed to this in 1694 with the Bank of England Act. The Fed Act was simply a repeat and ensured that, finally, “Britain” (but, in fact the Banking oligarchy of the British) had fully recaptured the USA and the War of Independence had finally been won – but NOT by America.

In 1971, a little before the outbreak of the Oil Crisis, the world monetary system that had emerged out of Bretton Woods abolished the gold standard, so that the petrodollar, that is, the union of the price of the dollar and the price of oil, took over control of the world economy. Whoever was in possession of both forms of money, would control the economy. If the bankers were already in control of the dollar via the Federal Reserve, they still needed to get their hands on the oil, hence the crisis of 1973 and the wars of the beginning of the 21st century. The abolishing of the gold standard which backed the US dollar caused most currencies to float, not being tied to the conversion to the gold standard. This change was what turned the world economy into a casino, where the national currencies are gambled on and where speculators can bring a currency down, or the economy of an entire country, as happened in Argentina.

The formula for doing this is a simple one: first, the lending institutions offer cheap loans, so that everyone gets into debt, infected by the collective euphoria. Then, money is taken out of circulation , triggering unemployment which in turn leaves a large slice of the population insolvent, broke. The big banks appropriate just about everything, including the smaller financial institutions and companies. Today, the transactions of the real economy justify a mere 2% of international transactions, so that the vast majority of the money in play is fictitious. These data on monetary speculation are provided by the Bank for International Settlements, and were resumed in the book Beyond greed and scarcity: the future of money, by Bernard Lietaer. Today, money is no more than belief in a system because there is nothing actually supporting the reality of its value, and the economic downturn that we are experiencing only reaffirms this fact. Monetary supply and debt have broken down in the absence of convertibility of money into gold, and it is difficult to know exactly what money means these days. What we do know is that it is no longer a depositary for value. It is a measure, certainly, an electronic accountancy system for loans and debts, which is accepted by the world as the only way of doing business.

Every day, several million dollars travel round the world looking to attract more electronic loans for their owners but, more than anything, it is an empty promise. Money today is not backed by gold or by anything else, other than our confidence in the monetary system. In the final analysis it is faith in those who create and control money, in the commercial banking system and in its principal shareholders: the Iluminati families. The phrase on all dollar notes “In God we Trust” is perhaps the greatest proof of this trust. Who would not trust in something that seemingly is so close to God?

Let us recall the modern origins of the issuing of Money, of coin of the realm… Most of the money today is created by the banks who issue loans to the non-banking public. Almost all money (more than 95% at any one time) is created out of the creation of the corresponding debt. The money in circulation is just a small part of the total money supply and is created by the Federal Reserve system, not by the government of the country. Truth to tell, the Money is created out of thin air by the commercial banks and the Federal Reserve system. All they do, in fact, is write the figures in their computers. And what happens in the USA is identical to what happens in Europe with the European Central Bank.

Money is created in main two ways. Firstly, the basic Money is mainly created in the form of physical notes, on the orders of the Federal Reserve.The second of the two main forms of money creation involves current and deposit accounts created by the commercial bank and constitutes the principal money supply. This is money-debt. Basic Money (also known as high powered money), is created when the Fed carries out the so called Open Market operations. By means of this process, the Federal Reserve injects money buying government guaranteed bonds, which become government debt, the debt owed by the government (that is, the tax payer) to the Federal Reserve. And where does the Federal Reserve get its money to buy these Government Bonds? Well, the answer is out of the air– it simply invents the money without any basis for doing so.

The Federal Reserve has no budget because it simply does not need one, it invents money whenever it is needed. In point of fact, almost all the dollars on the market are based on very high powered money that the Reserve invented at some moment in the past. The Federal Reserve thus creates a spurious debt on its balance sheet, chargeable Federal Reserve money and in return receives government securities, which the pub- lic has to pay with their work. Every time the Federal Reserve creates or destroys base money, the financial press and other mass media report that the president of the Federal Reserve has announced a new interest rate. This is not technically correct, but sounds better than saying “the Federal Reserve has just conjured up some money or has made it vanish”.

Once this high powered money has been created, the banks can create nine times this quantity in current and other accounts. And they do so by means of loans to the non banking public. Thus, money is mostly created by a banker writing numbers on a piece of paper, or the modern equivalent, typing bits and bytes into computers – because money these days is really only a state- ment in a computer. This means that when you borrow money to buy a house or a motorcar, the money is really created out of nothing by the bank, and is accredited to the customer’s account. The bank has a particular advantage in all this for the mere fact of being a bank. If you cannot pay the mortgage with the sweat of your brow, they take your house, and all for writing some numerals in a computer! From the banks’point of view , however, if the loan is not paid off, they have to write off the loan and this will affect the profits they report.

In the documentary America: from freedom to fascism, we learn how, at the beginning of the 20th century, the United States was a land of self- employed workers, with their own shops and businesses, and now it is a country of salary earners, of employees. Today, around the world, we are witnessing the proliferation of franchises and chains in all sectors (nuts and raisins, food, hairdressers, education and training, clothes, household electrical goods, taxis!), not to men- tion culture (music, journalism, literature, cinema…). It is practically impossible for an individual to survive thanks to their own business, and there is little doubt that this is due to the tax system, to the income tax that favours big business, the bankers, and the big corporations. It is increasingly difficult for anyone to survive independent of the big corporations. So much so that today what we find are subcontracted workers rather than salaried workers, with all the drawbacks of the self-employed without any of the rights of the salaried workers of the past century, in the hands of the temporary employment agencies, one more middleman. And all this thanks to income tax.

According to the Spanish dictionary, the word renta (income) means: “utility or profit yielded annually by a thing, or that which is charged for its use”. Why do we have to pay tax on our incomes, if we live off our own work and do not have possessions?.


One Response

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  1. frances said, on September 24, 2017 at 6:26 am

    Yes, we’re screwed from birth to grave. It would be great for the Bradbury pound to be used as a viable alternative, but virtually no-one’s heard of it, and it’s’ the last thing tptb would allow.

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