Are enough people waking up to make a difference like this cartoonist? Click on the image to enlarge it.
Central banks create “money” from thin air, call it quantitative easing, sell it as “public debts” or “treasury bonds” to get interest payments, and people are in awe of fancy papers and words they don’t understand.
Banks do the same, while talking about “financial products”…
And governments? They play along and betray their tax payers. That’s why the Treasury gets staffed with Bilderberg attendees.
Institutions live longer than people. They follow the money to employ people. In 1694, the Bank of England was the second central bank after the Swedish Rijksbank 30 years earlier…
Same circus, different clowns!…
Posted in Banks, Campaigning, Central Banks, City of London, Credit creation, European Central Bank, Federal Reserve, Government debt, Money as Debt, Nation States, National debt, Public debt
Tagged Central bank, Government, Quantitative easing
This GATA article is a remarkable summary of the madness that has resulted from bankers going berserk in their greed and need for power and control: Goldman can “print money” faster than the European Central Bank – by using credit default swaps. These were invented by J.P.Morgan in the early 1990s.
So governments are not in the hands of central but private bankers! Both create money out of thin air and sell it as “financial products” for interest payments. Meanwhile, we the people, are supposed to believe economists that money is a medium of exchange to fuel the real economy whose “output” is measured by GDP…
GATA is one of the best sources of information and analysis one may find. And as professional gold investors they are powerful. That includes taking the Fed to court! Imagine us doing that with the Bank of England!… 🙂
This blog post puts the EU and Greece excellently into the general debt perspective of our system, with central banks and governments as its key players, in a mortal embrace.
Remember: the money supply of a nation consists of
- Cash issued by government as notes and coins – interest-free – raising seigniorage as income
- Credit issued by banks at interest.
The budget deficit of a government consists of the difference between income and expenditure.
Government income consists of taxation and borrowing, since seigniorage has more and more decreased and is being ignored in general budget figures.
- In the UK, the hole of the budgetary deficit is filled by …
- Public Spending Borrowing Requirment (PSBR).
I.e. the tightening of public debt spirals is built in; with every annual budget – according to seemingly “good” and even “golden” fiscal rules.
And that means: dependency of governments by supranational bureaucracies such as the EU. Euroland is the first of such “world regions” that the Single Global Currency Association and other questionable groupings of the global financial elite are advocating.
London Firm was Created to Route Cash
This article in the Wall Street Journal shows how the “funny money” that banks create out of thin air as “financial products” and “derivatives” is short of a farce, if not con and fraud, or “legal forgery” as one author describes it.
However, we’ve come to realise that the Rule of Law is not in place.
Whereas you have to subscribe to read the full article in the Wall Street Journal, the Gold Anti-Trust Action Committee (GATA) has published it here.