Category Archives: Credit creation

FROM THE HORSE’s mouth: World Bank Whistleblower on how Global Elite rules the 99%

The impact of what we say and what we write depends a lot on our ‘credibility’. When ‘ordinary people’ say that the world is run by the Basel Bank for International Settlements as the central bank of central banks, nobody understands them. When a world bank whistleblower writes it, they will, hopefully, believe her:

Karen Hudes is a graduate of Yale Law School and she worked in the legal department of the World Bank for more than 20 years. In fact, when she was fired for blowing the whistle on corruption inside the World Bank, she held the position of Senior Counsel.

She was in a unique position to see exactly how the global elite rule the world, and the information that she is now revealing to the public is absolutely stunning. According to Hudes, the elite use a very tight core of financial institutions and mega-corporations to dominate the planet.

The goal is control. They want all of us enslaved to debt, they want all of our governments enslaved to debt, and they want all of our politicians addicted to the huge financial contributions that they funnel into their campaigns. Since the elite also own all of the big media companies, the mainstream media never lets us in on the secret that there is something fundamentally wrong with the way that our system works.

Remember, this is not some “conspiracy theorist” that is saying these things. This is a Yale-educated attorney that worked inside the World Bank for more than two decades. The following summary of her credentials comes directly from her websiteContinue reading

NATIONAL CREDIT and the Bradburys – from the Author of The Money Bomb

This 5-page article was written by James Gibb Stuart who passed away after 93 years of a life filled with passion for monetary reform.

His book The Money Bomb made such an impact on the City’s establishment that it was banned from WH Smith’s windows after a positive review in the Evening Standard…

With ‘social media’ we have a new chance to make the Bradbury happen and abolish the national debt in the process:

A FLAW in the Monetary System?

This seven-minute video shows better than any other medium how devastating the effect of compounding interest upon interest is.

The trouble is that, by now, brainwashing (rather than education) has been so successful that everybody thinks ‘money’ must be borrowed. At interest. Nobody asks where the interest is supposed to come from.

And there is a big difference whether

  • you and I borrow for our personal or small business needs (little money)
  • whether banks and central banks borrow (making money out of money aka usury)
  • and whether the Government borrows ‘big’ money
  1. for its own needs
  2. the provision of public services
  3. the compensation for shortcomings provided by public officials
  4. to ‘run’ the economy – which it hardly does, compared with the effect of money as debt.

Yes, it’s about ‘big’ money and ‘little’ money, and it’s about long and short time frames. That’s what the video shows!

‘Austerity cuts’ are far from necessary. But The Bradbury Pound is not known, since it is not taught by any economist. For the bank(st)ers do their best to camouflage what they are doing: create money from thin air and charge interest for it.

The big question is: why do all politicians seem to fall for this ‘trick’ such it has been beautifully institutionalised into the Debt Management Office?

The history of the national debt is published here. But who benefits is not published, i.e. the recipients of interest payments!

New analysis claims US may default 15 days prior to the actual date

13 01 10 Washington PostThis article is a guest contribution that illustrates how the language of personal debts is camouflaged when talking about national debts:

  • the repayment by personal debts is legally enforcible
  • the repayment of national debts doesn’t matter as long as interest payments reach the bank accounts of those with ‘vested interests’…

Now, however, as people are beginning to wake up to the impossibility of ‘growing debt’ forever, ‘debt ceilings’ are used

  • either to bankrupt governments or
  • at least to reduce public spending.

Hopefully more and more people see how money has become a tool to control and has ceased to be a medium of exchange, let alone a store of value…

Maybe the ease with which ‘money’ is created as debt should be kept separate from controlling a nation’s money supply? Continue reading

Iranian TV exposes Federal Reserve scam: Fed creates money for interest, not jobs!

Here is an interview by Iranian Press TV with Michael Burns, an American economist.

While he doesn’t answer the questions particularly well, at least the gist of what he’s saying is

  • that money is created from nothing and sold for “interest”
  • that the Fed didn’t solve the ‘crisis’ in 2008
  • that the American people were lied to.

 

The Emperor’s New Clothes: How to Pay off the National Debt & Give a 28.5% Tax Cut

This excellent article is published by the Irish Liberty Forum (ILF).

Its author is an entrpreneur who is dedicated to promoting the Austrian School of economics based on F A Hayek, which makes me somewhat sigh. For they ‘forget’ about the role of the state and think they can leave everything to’the market’…

Still, they do know about the difference between Cash and Credit and the devastating effect of the public debt…

Central banks + banks + governments = same circus, different clowns!?…

Analogy of the bank bailoutAre 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!…

2011 – The year when money starts to die

This article can be found on Finance and Economics, the website of ecnomist and former banker Alasdair Macleod.

However, his quote “Zero interest rate represents the most serious mispricing of money. It does not contribute to producing the savings industry requires for recovery.” indicates that he sees “money” only as a product.

I refer to his article here mainly to illustrate the “games” central bankers play

  • with governments – through “government bonds
  • the value of money – through “freshly created paper money
  • the price of gold and silver – through price suppression schemes that GATA has been pointing out for years.

Alasdair Macleod predicts the “death” of money, by comparing with history in the 18th century. I shall not join him in predictions. But I do hope that the current trends will NOT continue!

The Emperor’s New Clothes: How to Pay off the National Debt & Give a 28.5% Tax Cut

This is a great article with an interesting string of comments, written by an entrepreneur who calls a spade a spade.

It’s part of the remarkable work of The Cobden Centre which stands for honest money and social progress!!!

I came across it thanks to Steve Baker MP who supports Douglas Carswell MP in his 10 minute rule bill to lead the way on bank reform.

The growth of interest payments in austerity budget

It is quite extraordinary to watch what is happening publicly and to “see” what is really taking place. I have added today’s budget figures to the analysis of the last 10 years and produced the three graphs below. The June 2010 figures are labelled “2011”.

Government Budgets since 2001What matters in the development of these budgets is:

1. the trend set in motion in 2008, when the “crisis” hit

2. the continuation of this trend by the current government

3. the framing of this budget as an “austerity budget” when the truth is rather one of “the Bank is in charge” budget;

Government Expenditure June 2010for on the expenditure side, the only item that increased are the interest payments.

Government Income June 2010Interest payments are the essence of the national debt. And the national debt is the big lie according to this American article.

On the receipt side,  “Other” is the item that changed dramatically. We’ll have to inquire how this came about. The Treasury publication says: capital taxes, stamp duties, vehicle excise duties and some other tax and non-tax receipts.

Coincidentally, I was sent a comment by William Shepherd who publishes a blog on the Bank of England as well as the History of Usury.

He quotes Ellen Brown, the author of the Web of Debt and many, many articles:

–snip —

Bankers are in the debt business, and if governments are allowed to create enough money to keep themselves and their constituents out of debt, lenders will be out of business.  The central banks charged with maintaining the banking business therefore insist on a “stable currency” at all costs, even if it means slashing services, laying off workers, and soaring debt and interest burdens.  For the financial business to continue to boom, governments must not be allowed to create money themselves, either by printing it outright or by borrowing it into existence from their own government-owned banks.

–snip —

The financial sector, which controls the money supply and can easily capture the media, cajoles the populace into compliance by selling its agenda as a “balanced budget,” “fiscal responsibility,” and saving future generations from a massive debt burden by suffering austerity measures now.  Bill Mitchell, Professor of Economics at the University of New Castle in Australia, calls this “deficit terrorism.”  Bank-created debt becomes more important than schools, medical care or infrastructure.  Rather than “providing for the general welfare,” the purpose of government becomes to maintain the value of the investments of the government’s creditors.

–snip —

England’s new coalition government has just bought into this agenda, imposing on itself the sort of fiscal austerity that the International Monetary Fund (IMF) has long imposed on Third World countries, and has more recently imposed on European countries, including Latvia, Iceland, Ireland and Greece.   Where those countries were forced into compliance by their creditors, however, England has tightened the screws voluntarily, having succumbed to the argument that it must pay down its debts to maintain the market for its bonds.

–snip —

Looking forward to your comments!