This video is a good summary of the essence of
- money created from thin air – as national debts
- the impossibility of paying back national debts
- the farcical games that governments and central banks make us want to believe.
One of the problems seems to be that people don’t think “currency”, but “money”.
Another problem is that the few who know run the risk of being murdered when they know too much. See Christopher Story’s story.
This video is a great way of illustrating the absurdity of debt-based economies in general and national debts in particular.
This full article is only accessible to subscribers. But the beginning gives enough away to understand how the Federal Reserve and other Western central banks create smoke and mirrors with their reporting than any truth.
Anybody still believing in the ‘goodness’ of any central bank for its country or currencyzone will hopefully begin to question and find our for themselves.
The author is one of the regular contributors to GATA – The Gold Anti-Trust Action Committee – consisting of professional investors in gold.
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.