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The Silly Pseudo Science That Is ‘Modern Economics’

Arthur Kitson

(Left: Arthur Kitson, in a rare photograph. Now languishing in a memory hole, his thinking was perhaps the most advanced in an era when awareness of monetary matters was at its summit: the twenties/thirties of the last century.)

All modern science has been utterly corrupted to the core through orthodoxy and political correctness, under the pressures of power and commerce. So why are people so surprised it’s the same with ‘economics’?

It’s all just complete baloney. And of the worst, most moronic kind. Their most fundamental propositions don’t add up at all and simply wither away under the gaze of critical thought.

The fact that critical thought is strictly off limits in today’s universities, where group think and the lowest common demoninator rule as ‘eminence’, is the only reason book after book is written exalting these absolutely specious beliefs.

Compare it to allopathy, the trade of the men and women in white. They explain to you newborns need mercury, formaldehyde, lethal viral matter and genetically modified remnants of human foetuses to ‘enhance immunity’. You’re ‘irresponsible’ and ‘irrational’ if you happen to disagree.

Next, when these vaccinations have done their job and have destroyed your immunity and you get cancer a few decades later, they explain to you, you need mustard gas (‘chemotherapy’ is derived from that stuff) and lethal doses (according to the WHO) of radiation to ‘survive’. As a result far more people die of treatment than cancer itself.

It’s all ‘science’, you know. Proven! Honest! With double blind peer reviewed studies! Cross my heart, hope to die!

Totally corrupted, by commercial interest and thought/herd control. Promoting those who uncritically work hard to pass their exams, keeping back those going their own way.

And this is just medicine. It’s money and the economy through which they rule! If they do this to medicine, what does one really expect from the ‘science’ behind Capitalism?

Their laughable nonsense
We have already extensively dissected their ‘time value of money’. The idea that money is worth more today than it is tomorrow. And that the creditor thus loses when lending. For which Usury is then the ‘compensation’.

Is it any wonder that this is considered the absolute foundation of ‘modern economics’? Of course their witty rationales serve only to hide the heinous plundering of Usury. Of course ‘modern economics” most cherished belief explains why we need banks!

And of course it’s just rubbish. Totally irrelevant. The bank creates the money when it is lent out and retires it when it is repaid. It didn’t exist before the loan and doesn’t exist after it. It’s a sterile operation, completely neutral. No ‘value’ is created for the lender, none is lost to him. He only does it because he can plunder his unwitting victim with Usury on the ‘debt’.

There is no risk, because there is collateral. ‘Losses’ to ‘inflation’ (which don’t exist with credit based money) are simply because they cause inflation willfully. It’s all a total mirage.

Even with already existing money (the situation most people mistakenly thinks exists and must exist), the ‘time value’ can easily be undone by having savers pool money together, in exchange for giving them interest-free credit from the collected savings.

Or one slaps a demurrage on the money, when those holding money, instead of those borrowing it, pay a percentage per year. This proactively destroys the value of money and ends hoarding: people will sink money in assets, which is the way it should be anyway. Saving money is antithetical to its purpose as a means of exchange. The ancients worked with this money, when their money was based on receipts of warehouses for perishable produce. Because the goods backing the note perish, so does the money.

They built all the wonders of Antiquity with it, all the way up to the Cathedrals.

Price discovery

Frederick Soddy, another forgotten hero that most assuredly deserves more attention.

Frederick Soddy, another forgotten hero that most assuredly deserves more attention.

Here’s another example: price discovery. According to ‘modern economics’ price is a function of demand and supply. I think we can agree that this basic proposition rivals the ‘time value’ in importance for our crummy little pseudo science/mind job.

But, our banker friends have conveniently forgotten all about the third variable: money supply.

Without a money supply there cannot even be a price to begin with! Money’s secondary function is unit of account! Price is expressed in its monetary value!

Not only that, without the means of exchange, there is hardly any trade at all: demand and supply never meet, except the few trades that can be settled with direct barter!

So: price is a function of demand, supply and money supply. And this is really foundational in obscuring the second main issue with money: managing its volume properly.

Now, how relevant is this? Hugely. Because they ignore money in price discovery, they can have their maniacal Austrians/Neo-Liberals claim money is irrelevant, deflation fantastic and markets just don’t clear because they are not ‘free’. This is known as Say’s Law and is used to hide that the only reason we are in a depression is because of a deflating money supply.

Because price is supposed to be a function of demand and supply, only ‘structural adjustments’ (raping labor rights) to ‘correct’ ‘market inefficiencies’ blah, blah, blah.

This is how they sell austerity. Should we know about the simple truth of price discovery, we would always have the money supply in mind and this is not convenient for those who rule through money and manipulating its volume.

This is just how they sucker us with their word magic and Orwellian crap. Laughing all the way to the bank about the silly masses and their love of ‘the power of ideas’.

Conclusion
We are ruled by a Banking Cartel. About 40% of the disposable income of the common man is taken by Usury and related rents, another 20% by their Transnationals and their artificial scarcity through Monopoly. Yet another quarter by the State, which is another Monopoly they control. What remains is for the wife.

Who are we kidding? We are total slaves.

First we are interest-slaves through the artificial debt. Next we are relegated to wage slavery by scarce money, paying off the Usury by doing the jobs they want to have done. In effect digging our own graves in their Banks, Transnationals and Governments for sustenance.

Of course they own the ‘science’ behind it all. Of course they explain the rich must get richer through Usury for the benefit of all. Hell, even just studying ‘modern economics’ makes you a greedy bastard, it was recently shown!

Forget about their silly crap and read up on Margrit Kennedy, Bernard Lietaer, Arthur Kitson, David Astle and all the others in the know out there. I’ll even throw in my own interest-free economics page, it’s not a bad place to start.

We can do so much better.

Related:
Banking Is Institutionalized Murder!
Rationalizing Usury: the Time Value Hoax
Capitalism Is Jewish Usury

Solutions:
Interest-Free Economics
The Difference Between Debt Free Money and Interest Free Credit
More on Mutual Credit

 

Banking Is Institutionalized Murder!

Martin Luther

Left: Martin Luther. Say of him what you will, below’s quote is truer today than ever.

By Anthony Migchels for Henry Makow and Real Currencies

The heathen were able, by the light of reason, to conclude that a usurer is a double-dyed thief and murderer. We Christians, however, hold them in such honour, that we fairly worship them for the sake of their money…

Whoever eats up, robs and steals the nourishment of another, that man commits as great a murder (so far as in him lies) as he who starves a man or utterly undoes him. Such does a usurer, and sits the while safe on his stool, when he ought rather to be hanging on the gallows.”.
Martin Luther, quoted in Das Kapital

This is exactly how it is! It is not one word too much!

USURY IS PURE MURDER!

It has nothing to do with ‘oh, it’s so honest, so reasonable, that 5% per year’.

Look at how complete nations are gutted to pay off some filthy rich trillionaires.

Billions of people live in desperate destitution because of Usury, dying prematurely, completely unnecessarily. People commit suicide, haunted to the grave by creditors. It tears families apart in financial stress. By the millions. Throughout the West. The World. It is purely genocidal, there really is no way to get around it.

And we have built our entire economy on this horrid plunder. On this monstrous sin!

When will we again see the simple truth as the ancients always did?

Banking is simply institutionalized Usury.
Capitalism is simply Banking.
The two rose to prominence together in Amsterdam, London and New York.

The whole Capitalist monopoly has been bought with the proceeds of compound interest lending. They are emasculating the West with interest on the debt. The Banks openly try to endebt us to the point where all our income is sucked up by debt service! Years of deflation have made our debts weigh even much heavier in real terms.

Look how the tumors of ‘the financial sector’ are metastasizing, with their ‘bonusses’, ‘derivatives’, LIBOR manipulation, asset bubbles, defaults, bribing politicians, evictions and repossessions, Gold manipulation, media power, globalism, bail outs, bail ins, fomenting of wars. It is all an outgrowth of the cancer of Usury.

We are already thoroughly enslaved through Usury, it’s not a doom scenario, it is the way we live!

In the aftermath of Usury prohibition in the medieval era, around the time of Luther, the main argument for allowing Usury was that without it people wouldn’t lend. And lending was necessary for the economy, the rationale went. There was (at least perceived) a scarcity of credit.

But today we can provide all the interest-free credit we will ever need at zero cost. In several ways!

The ‘time value’ rationale that Jesuits in Salamanca cooked up in the 16th century has been totally discredited and is irrelevant in a decent monetary system.

Notwithstanding credit and money scarcity, the medieval man worked only 15 weeks to feed his entire family in the Usury free economy. Bones found in England show that people there only achieved the same height as the late medieval Briton in the sixties of last century.

Compare that to the sweatshops of the 19th century, the heyday of Capitalist domination over Labor.

Imagine what our life would look like without Usury, and with plenty of dirt cheap credit  plus today’s technology!

Even the Jewish Question is ultimately just another front for the Usurer!
It’s the Trillionaires and their banks and their World Government/Currency that we need to shut down and replace with interest-free monetary systems. Most Jewish people are just their bitches, easily sacrificed, just as we are. Without their Usury, ‘the Jews’ no longer are very formidable.

Usury is behind, or at the very least severely worsens, every problem on the globe. It is THE defining problem of the 99%. It is the issue of issues.

INTEREST-FREE MONEY NOW!!

Root Out Usury!

Root Out Usury!

Related:
Rationalizing Usury: the Time Value Hoax
Babylon = Usury! We want Interest-Free Money!
Ten Atrocities that would not exist without Usury
Hate The State! (But The Banks Even More!)
Capitalism Is Jewish Usury

 

Derivatives, Or: How The Money Power Created The Greatest Depression

Robert Rubin, Alan Greenspan and Larry Summers

Left: Robert Rubin, Alan Greenspan and Larry Summers, three of the main architects of the derivative induced Greatest Depression. As usual, the Ministry of Truth portrays them as those who prevented collapse.

Depressions and the boom/bust cycle are wholly artificial phenomena. In earlier days, Bankers created deflations simply by calling in loans. Nowadays things are a little more complicated, but crashing the money supply is still the main thing. Derivatives are today’s preferred method.

Let us first reestablish that recessions and depressions are caused by deflation. Here’s the graph showing the money supplyover the last few years, courtesy of Shadowstats:

M1, M2, M3 over the last 10 years

M1, M2, M3 over the last 10 years

Let us analyze a little what this graph shows. M3 is the main issue here. This is because it is the widest definition of the money supply, including long term deposits and several other forms of liquidity, including some derivatives. M3 is most telling about what is happening in the shadow banking system.

In the first place, M3 is first shown in red, then in blue. This is because Greenspan ended Fed reporting of M3 in 2006. An unbelievable scandal, off handedly done away with as a cost cutting measure.

However, we can clearly see the malicious intent here, because Greenspan was just hiding what he knew what was already starting: a massive inflation, followed by a legendary crash in M3.

As said, M3 is the widest definition of money and directly related to this is that the main deflation after 2008 happened in the shadow banking sector, non-banking lenders, like hedgefunds. It was the implosion of the derivatives that caused M3 to tank in the way it did.

In 2008, we see that M1 starts to peak when M3 crashes: this is the Fed printing money: they were buying up busted derivatives, in effect replacing derivatives with ‘real’ (freshly printed) dollars and bailing out the busted loansharks.

This is also where the rumor of hyperinflation stems from: the Austrians were only looking at M1, endlessly showing the peaking balance sheet of the Fed (M1).

Austrian Economics in general of course is always fearmongering about hyperinflation while promoting deflation. As a result, many reasonable people these days will say, ‘well, declining prices you know….’. But deflation means money is becoming worth more and this is nice for those who have a lot of it: the ultra rich in particular. During deflation wages decline too and this is not so good for those working for a living, being most of us. Much worse: debts become worth more in real terms, which is obviously disastrous with everybody drowning in debt.

And the deflation is simply the reason the economy is in shambles. The contracting money supply causes a collapse of demand in the economy.

In this particular instance, the Money Power created the depression with the derivative trade: first blowing a huge housing bubble with them, and then busting them. Next, the shadow banking industry collapsed. As a result, the housing bubble was starved from easy credit and imploded. The Fed bailed out all the banks and billionaires with their hedgefunds, no harm done there, but Mainstreet is now saddled with a huge debt, millions of homes underwater. Nobody is bailing them out. On the contrary, it’s Wall Street that is buying up all the homes for pennies on the dollar. QE funds this, as it does the ridiculous NYSE record breaking bull run.

Meanwhile, the economy is a mess, ongoing depression and it does not look like the Money Power is done with us quite yet.

How they do it
Of course, all this is a little convoluted. One needs to see that the Banking System is indeed One, that they all own each other, that it is run from the top down globally. There is no ‘chaos’ as described by the financial press, both mainstream and alternative. The financial system is operated just as any other system.

In earlier days, bankers just had a nice confab, agreed to start calling in loans at this or that moment and creating panics and depressions was much easier. Nowadays a good story is needed. But there is an ample supply of those and the derivative trade is just the modern way of both plundering the non-insiders and controlling the entire system.

For Mainstreet, there are many stories. That greed causes it all (not untrue of course), that we need to consume less, because the Earth cannot sustain our way of life, that there is a lack of faith, that structural reform is necessary, that we are losing the competition with China, etc., etc.

But all these narratives just serve to hide the truth: that the boom/bust cycle is a totally artificial tool of plunder and centralization of wealth and power by a centralized financial system.

The Derivative Congame
Derivatives are financial products, that are derived from more ‘real’ assets.

A famous example are the Mortgage Backed Securities (MBS). Taking for instance ten mortgages, slicing them all in ten pieces, mixing a tenth of each together and selling them as one product. The buyer is then owner of one tenth of ten mortgages, instead of one complete one. The idea is that this spreads the risk of default.

Another example are the Credit Default Swaps. Lenders buy guarantees from other lenders: if a loan goes sour, the lender is no longer on the hook for the (entire) bust. The rationale is again that risks are shared by the lending community.

Very important (in terms of trading volume) are derivatives that ‘insure’ against higher or lower interest rates. Interest rates (the cost of money) ultimately drives the entire financial world and swings in interest rates can destabilize institutions.

As always, the rationale is just the sell. If we want stable interest rates, I suggest going 0% always. That certainly would solve a great deal of problems, but it would also end Plutocracy, of course, so it’s not really on the horizon for the time being.

In reality, derivatives are nowadays the main plundering scheme, run by the main players. It transpires, that the top 5 Wall Street banks (JPM, BofA, Morgan Stanley, Goldman and HSBC) are the counter party for 95% or more of all derivatives worldwide. This means that they are ultimately on the hook for all risks insured in the entire financial sector, globally. Obviously, this is hardly stabilizing. Quite the opposite is the case, as it goes without saying that these banks simply don’t have the assets, huge as they are, to make good on their promises, should things go wrong. Which they must.

As always, in purely Orwellian fashion, their ‘idea’ of ‘spreading risks’ has in reality done the exact opposite.

This is one key reason why we have Goldman Sachs alumni in European Governments everywhere: should European sovereigns default on their loans, Goldman Sachs would be one of the players who would have to pay up as the ultimate counter party in the Credit Default Swaps market and this would vaporize them long before everything would be settled.

The derivative trade is hugely lucrative for players, as long as things go well. Their total nominal outstanding value was at some point nearing a Quadrillion, dwarfing total global GDP. What is more, they are all off balance: they are not seen as assets and they are not part of the Generally Accepted Accounting Principles (GAAP).

This means that nowadays nobody really knows anymore what the real asset position of any financial institution really is: they might have huge obligations through the derivative trade, but it’s not visible in their books.

Derivatives are obscure instruments and are nowadays the main game for fleecing unsophisticated investors. Pension funds, municipal entities, semi public institutions and the like. Interest based derivatives are simply bets: interest rates can go up or down and while they are officially for ‘insurance’ against unexpected swings, they are in reality mainly used for speculation purposes.

It is the derivative trade that brought Detroit down. Of course, Detroit is not really down, their CAFRs (Comprehensive Anual Financial Reports) show plenty of assets, but that’s another matter. However, Detroit was suckered into speculating with tax payer money, their conscience eased with the narrative that they would ‘help stabilize the Financial System’ and everybody would get rich. They went bust instead and now pensioners can pay.

Another good example is Vestia from the Netherlands, until a few years run by the now disgraced Eric Staal. A few decades ago Public Housing institutions were semi-privatized into QUANGOs (Quasi Autonomous Non Governmental Organisations),Vestia among them, with the predictable consequences: quickly rising rents and salaries for top management as a result of focus on ‘efficiency’ (profit) instead of effectiveness (service to tenants).

Eric Staal was a typical example of the ‘new manager’, ambitious, egotistical. Thinking he could play ball with the big guns. They lured him with some superhot ‘account managers’ in short skirts, copious diners, and expensive call girls. Next, his bets went south and Vestia can now cough up 2 billion euro. Which they don’t have and for which tenants can now pay up in the coming decades (with interest, of course) with higher rents.

It’s easy to blame Staal and to mock him for getting busted, but in reality the man was just suckered into something that was way above his head and this is a pure congame by soulless vipers. These people are very adept at exploiting ambition and other human weaknesses.

Larry Summers and Wall Street
August last year, Greg Palast published a bomb shell memo by Larry Summers, front running candidate to succeed Bernanke at the Fed at the time.

In the 1997 memo it was made very clear that Summers, with the Treasury at the time, was conspiring, completely illegally, with a couple of the main Wall Street Kingpins to force deregulation of the derivative scam worldwide. Rest assured that this publication was the reason that Summers missed out on the Fed presidency, which would have crowned his already despicable ‘career’.

This in itself creates the interesting question who wanted him out of the equation, and organized this by leaking to Palast, but that is another matter.

Of course Summers and the named bankers should have been arrested immediately, the memo provided more than sufficient grounds for this, and jailed for the rest of their lives. These people are the prime culprits of the 2008 implosion and should never see the light of day again. The memo shows them openly discussing the ‘end game’ of full control of the economy by the financial industry.

But hey, too big to jail, you know. Obviously, locking up people destabilizing the system would be very destabilizing in the colorful narrative of ‘democracy’ and ‘economics’ and ‘the legal system’.

But Palast’s memo was the smoking gun that proves that the derivatives scam was foisted on the financial industry by some of the highest executives of the Money Power and it must be obvious that the ‘disaster’ of 2008 was only a disaster for those picking up the tab: the tax payer and those losing their jobs, houses and businesses through artificial deflation.

The Bank of International Settlements
The BIS is the apex of the global banking system, the Central Banks’ Central Bank. It’s the main executive in what Quigley famously described as “The powers of financial capitalism had another far reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole.”. It’s the top of what the Economist called ‘the marvelous edifice of international finance’.

And the BIS does indeed hold a crucial trump card when it comes to the global management of the volume of money and thus the creation of the boom/bust cycle: it sets the capital reserve requirements for banks. It was the BIS raising capital reserve requirements in the late eighties that made the Japanese banks insolvent overnight, popping the outrageous Nikkei/Real Estate bubble that had overtaken Japan. They never recovered and neither did Japan.

The BIS of course knew well what was going on in the 2000’s with the derivatives and real estate. The derivatives allowed huge leveraging by the banks, many of which at some point had no more than 2% in capital reserves. BIS policy now is to raise capital reserve requirements, officially to ‘improve stability’, and this has a huge impact on the banks’ capacity to lend, guaranteeing ongoing depression.

The BIS, in its publications, is also openly calling for stronger deleveraging and the end of quantitative easing.

What does it all mean?
As we have seen above, the basic sell for derivatives is that they manage risks. This was very important, because they helped create the false sense of security with the banks and regulators in the 2000’s: the idea was that lending had lost its traditional ‘risks’ and that therefore speculation in real estate was no longer a problem and that real value was being created.

Of course, nobody in his right mind, most certainly not the bankers, believed this, but the point is that bubbles need to be blown so they can be popped and this happens to be the story with which they blew the housing bubble of the 2000’s.

Mortgage Backed Securities now made sure that everybody, including sub prime borrowers, could get a mortgage, interest rates were kept low, and housing went through the roof. Next of course problems emerge, borrowers can’t pay and Mortgage Backed Securities all of the sudden transpired to not at all have taken any risk away.

The top people of Wall Street have created the scheme top down. This has a number of important implications. In the first place: these people are not going to take undue strategic risks with the financial system. Contrary to popular folklore, it’s not short term gain that drives them primarily. They’re master strategists. They knew exactly what they were doing. They knew there were going to be huge bankrupties and they knew the Fed would bail them out. Bail outs are one of the main purposes for which they created the Fed to begin with.

After 2008, the derivative trade just continued to proliferate in a completely unsustainable way. Hundreds of trillions of nominal value and although this greatly overstates the real risks involved, it has already been shown what damage they can do. A next round is guaranteed.

It is more than interesting that it is the American banks that run the trade. The top 5 banks that are the counter parties may look strong now, but they’re actually in an extremely vulnerable position. While sold to manage risk, it’s in fact these banks that ultimately carry all risks in the financial industry. This is an accident waiting to happen.

This could be classically interpreted as just another example of American imperial over reach, but if one realizes the Money Power is not the US Empire and looking to put America and its dollar down as the hegemon, an even more sinister picture emerges. These banks are at the core of the American economy and the Money Power can at any moment detonate a nuclear bomb right at the heart of the American Empire by just popping the derivative bubble. True, it’s very difficult to fathom how the global financial system itself could survive such a melt down, but knowing what the bankers are capable of, and the direction they seem to be heading, it’s an interesting scenario.

Conclusion
Blowing bubbles and popping them with alternating inflations and deflations is, with Usury, the Money Power’s core business. Each cycle has its own story and derivatives are the story of the Greatest Depression. The worst is yet to come. Years of scarce money, depression and centralization of wealth lie ahead of us. They will undoubtedly manage to spring something nasty on us yet.

At the moment the economy is temporarily improving a little bit, but we have been looking for green shoots for years now. In reality, indebtedness globally, both private and public, is much worse than in 2008. For years the Central Banks have been postponing the real pain, but huge deleveraging is necessary within the current paradigms of financial management.

As always, it’s not even so much the debt, but the Usury that is the issue. Even Greece could pay off all its debts within 20 years just from what it loses to debt service today. Most nations have, since the 2nd World War, paid more in interest on their debts than they have debts outstanding.

But the banks have us exactly where they want us: unsustainable debt, a huge portion of our incomes raked in through Usury, the ‘need’ for deleveraging, resulting in deflation and thus giving them the depression they so clearly crave.

Within the paradigms of the current system, this cannot be solved. Only ending banking as it operates today can end centuries of wholly artificial booms and busts.

But this will only become possible when people stop wondering about corruption in finance and start seeing finance itself is corrupt.

Related:
The Dying Dollar and the Rise of a New Currency Order
The Inflation vs. Deflation Dialectic
Austrian Economics, Apostles of Austerity Defending Deflation
Understand that the Banking System is One
The Few Banks that Own All

Capitalism Is Jewish Usury

William III, who made the migration of Jewish Finance from Amsterdam to London possible

(Left: William III of Orange, who made the migration of Jewish Capitalism from Amsterdam to Britain possible.)

Capitalism is Usury. Its defining belief is ‘return on investment’. This is an extension of the ‘time value’ of money, which is the central tenet of modern economics. Capitalism is unthinkable without banking and banking is institutionalized Usury. 

Usury is Plutocracy. Compound interest makes it unavoidable that the very richest own everything in generations. 

And this is indeed what happened: Capitalism is one huge global monopoly. All the major banks own each other and most Transnationals plus a huge chunk of land. This juggernaut was built with the plunder of Usury.

We have all seen that Rothschild was worth 50 billion in 1850. At 5% per year, this fortune would now be a trillion, at 8% per year Rothschild would now be worth hundreds of trillions.

This is why it has been said that ‘compound interest is the strongest force in the Universe’.

This is Usurious Usurpation.

The Rise of Capitalism
Modern Capitalism was first clearly visible in the Dutch Republic, where Italian Banking, expelled Iberian Jews, the Reformation, naval power and the acquisition of huge trade fortunes came together in the Amsterdam Empire, which would outshine its much bigger Spanish, British and even French competitors until the mid seventeenth century.

Everything that defines modern Capitalism was either invented or came to fruition in Amsterdam. The first Stock Exchange, Multinationals (the East Indies Company, which would rule over Indonesia with unrestrained Corporatocracy for centuries), and most importantly, a Central Bank, the ‘Amsterdamsche Wisselbank’. And of course a huge pile of money, that would be the envy of Europe even long after its ‘glory’ had subsided.

Up to 2500 guilders (estates could be bought for that kind of money) were paid for a single Viceroy Tulip bulb at the peak . "A Satire of Tulip Mania' depicts speculators as brainless monkeys.

Up to 2500 guilders (estates could be bought for that kind of money) were paid for a single Viceroy Tulip bulb at the peak . “A Satire of Tulip Mania’ depicts speculators as brainless monkeys.

Amsterdam also saw the first bubble: the Tulip mania, 1637. This typical banker device, blowing bubbles with easy credit and then popping them by calling in loans, would haunt Western economies for centuries to come.

The Dutch Republic resulted from a Calvinist rebellion against Catholic Spain. Calvin is considered by many to have been Jewish. He openly defended Usury. This was in an era that the Medieval era of Usury prohibition was in terminal decline.

Calvinist thought was also infected by the typically Jewish notion that wealth is a sign of God’s favor.

Notwithstanding Usury prohibition, Jewish Usury had been a huge issue throughout the Middle Ages and it does not require a great leap of the imagination to see that Capitalism is in fact the modern equivalent of what was once known as Jewish Usury.

Jewish fortunes and their methods played a large part in Amsterdam. Their ships would also dominate the growing slave trade on America. They had come from Spain, after being expelled in 1492. Holland was known at the time for its ‘tolerance’.

Amsterdam was the first great star of high finance. Opulence acquired through trade became Capital, looking for returns. And here we see that Capitalism is about finance, not production or consumption. Finance rules over producers, workers, consumers, farmers, crafstmen and industrialists alike.

They lend to those they control or want to control and withhold credit to those for whom they have no purpose. Usury gives them their take of any venture. By keeping money scarce, they keep labor cheap. This is how money rules.

Moving on to Britain
Amsterdam peaked in 1648, when the peace of Westphalia ended both the 80 year war for independence with Spain and the 30 year war in Germany. But after the peak comes the decline and already in the fifties problems began to mount when Cromwell landed a blow on Dutch naval supremacy with the Acts of Navigation.

The Jews had been expelled from Britain in 1290. This was a few decades after the Magna Carta, which clearly points at Jewish Usury as a huge problem at the time.

Cromwell, who was a calvinist Puritan, negotiated extensively with Amsterdam Jews about resettlement. He probably was a tool of Jewish/Amsterdam finance to begin with.

Resettlement came with the promise of making London a better Amsterdam. And while British merchants (and many others too) were against the readmittance of the Jews, Cromwell went ahead anyway. The Puritans were optimistic and naive and thought they could ‘redeem’ the Jews. But while Jewish Capital indeed pushed Britain’s Empire to unprecedented heights, there was no redemption: by the end of the 19th century the British Aristocracy had been entirely Judaized.

While Cromwell, as a tool of Amsterdam Imperialism, ultimately failed, the Jews did not relent and they had a second shot at London with the Glorious Revolution, when William III of Orange, Stadtholder of Holland, became William III of Britain and the Dutch Republic and England were united in a personal union.

He repaid his financial backers by chartering the Bank of England in 1694 and this was the official entry of Capitalism in Britain. It came with the end of sovereign money and the ascent of Gold: until then the British economy had been financed with Talley Sticks, simple pieces of wood issued by the King. British partners in the Bank paid for their shares with them, but the first thing the Bank did was take them out of circulation. The Bank of England is only the eigth bank in history and is the second oldest to survive today.

The United States
The real history of the United States is not about the War of Independence and the Constitution. It’s about banking.

The United States did not revolt over ‘taxes without representation’. According to Benjamin Franklin the real reason for the War of Independence was that Whitehall forced scarce money through Britain’s Gold Standard on the Colonies, who had thrived with their own Colonial Scrip. A depression was the inevitable result.

Only a few years after nominal independence, Hamilton’s first Bank of the United States brought Capitalism to the United States. It was closed in 1800, but in 1816, in the aftermath of the war with Britain, a second Bank of the United States (a privately owned corporation) was opened with a 20 year charter.

The heroic President Andrew Jackson did not renew this charter and miraculously survived an attempt on his life. His last words, ‘I killed the Bank’ still ring triumphantly through the ages. Unfortunately, he failed to replace it with a decent monetary system and the country was plunged in a depression because of a tanking money supply.

This left the Whigs, Abraham Lincoln prominently among them, plenty of scope to campaign for a new ‘National’ Bank, which came in the aftermath of the Civil War.

In 1913 the Federal Reserve Bank was founded. This privately owned corporation is owned by primarily Jewish ‘member banks’. The presidents of the Federal Reserve are always Jewish and by far most of its board members are too. It’s no secret Wall Street is run by the  Jews and is now the global standard bearer of Jewish Usury with derivatives being the scam du jour.

Of course there are Americans in Wall Street too, just as there are Englishmen in the City or Germans in Deutsche Bank, but whereas these nationalities compete amongst each other, the Jews are strong in all nations and this gives them supremacy.

Equally true is that the Jewish many gain nothing from the banking prowess of their ‘elites’. They may have some privileges, but on the other hand they’re also easily duped into nasty affairs or sacrificed like the pawns we all are.

But considering the above history of Capitalism and Jewish Usury, it is very hard to avoid the conclusion that they are the same thing.

Conclusion
YHVH emphatically orders the Jews several times to conquer the world with Usury in Deutoronomy, for instance: “15:6 For the LORD thy God blesseth thee, as he promised thee: and thou shalt lend unto many nations, but thou shalt not borrow; and thou shalt reign over many nations, but they shall not reign over thee.”

Pivotal documents from the medieval era squarely point at Jewish Usury. We have already mentioned the Magna Carta, but there is also for instance the Quran: ‘That they (the Jews) took usury, though they were forbidden; and that they devoured men’s substance wrongfully;- we have prepared for those among them who reject faith a grievous punishment.’ (sura 4.161)

Capitalism and its ‘return on investment’ is clearly the successor of medieval Jewish Usury. It arose during the destruction of medieval Usury prohibition. Its typical devices, Usury, Banking, the Stock Exchange, asset bubbles, Transnationals, all were already present in Amsterdam. It was this force that migrated to Britain and the US. It was in these three financial Empires that Captitalism showed its unrestrained imperialist designs.

Already the poor lose up to 50% of their income to Usury, mostly passed on by producers in prices. The middle classes are somewhat better off, but they are being decapitated everywhere. Usury only benefits the richest 10%, while most of the money ends up with the ‘fabulously’ wealthy.

The enslavement is total: most people work the first two and half days of the week to pay off the bank. Even if they have no debts.

And we face not only enslavement, but extinction. Mass immigration, combined with the demographic catastrophy caused by the trinity of feminism, the not-so-gay lobby, and sexual ‘liberation’, is now threatening to actually destroy the white race. Whites are expected to be a minority all over the West in 2050/2060 and irrelevant by the end of the century.

Capitalism is the core of the Jewish Question. All their other depravities, including Zionism and (Cultural) Marxism were built and financed from the Capitalist powerbase.

The Jewish Question can only be reasonably resolved by reforming money and ending its rule through Usury.

Related:
Is Anti Usury Activism Antisemitic?
Babylon = Usury! We want Interest-Free Money!
Demystifying the ‘Conspiracy’
Why Do People Have Difficulty Seeing The Jewish Question?
Rationalizing Usury: the Time Value Hoax

 

Making Sense of the Senseless…….

Anthony Migchels

I’ve opened a new blog: ‘Making Sense of the Senseless…….’

It’s based on what I do on Facebook and I’m hoping to reach a wider audience.

The articles will be short contemplations on current affairs, commenting on articles, events and memes, which have proven an incredibly powerful mode of communication on the web.

I’ve just posted the first few articles, they’re my most recent posts on FB. But there is also a new one, as a teaser…. Go have a look and tell me what you think!

http://migchels.wordpress.com/

Webinar on Community Currencies


Tomorrow I’ll be partaking in a ‘webinar’, set up by Wayne Walton. Henry Garman will also participate.

We will be discussing the way forward, getting rid of Money Power control over our lives. Issuing our own currencies will be an important part of it all.

People can call in with questions and thus join the conversation. Be there!

See here for all the details:
Live stream: usuryFree Jubilee Tele-Summit across 3 continents.
http://webinarjam.net/webinar/go/4964/08e1d90a7e

Time: Saturday, April 19th 1PM Eastern. 11AM Mtn. 19:00 CET.

usury = money monopoly forbidden by the Jesus & Mosaic law. Jubilee
= debt forgiveness & return of stolen land along with the rebirth
of human self-determination.

Click on the link to register for the Tele-Summit where you can ask
questions about how to implement the usuryFree Jubilee.

This is a path for humanity to win emancipation in less than
a year. It’s essential to understand that the choice is
between fear and love. Simply by believing and loving ourselves;
then ISSUING our own money we will win quickly!

http://webinarjam.net/webinar/go/4964/08e1d90a7e
Usury is theft!
Hour Money Jubilee, 3837 Northdale Blvd, 252, Tampa, FL 33624, USA

A Few Words on Monetary Reform


This video, in Dutch, was made by Studio White Cat, Merlijn Janssen Steenberg. Kudos to him for this very professional production.

Subtitles can be turned on with the cc button at the bottom of the Youtube player.

Enough of the Putin Worship!

Vladimir Putin

(Left: Grand Master Putin. But his game is poker, not chess.)

“We will strive to ensure a new world order, one that meets current geopolitical realities, and one that develops smoothly and without unnecessary upheaval.”

Oh, how Putin hates the Jews and New World Order!

Oh, how Putin hates the Jews and New World Order!

 

“I recently had a talk with Henry Kissinger. I meet with him regularly. I fully share this consummate professional’s thesis that close and trusting interactions between Moscow and Washington are particularly important in periods of international turbulence.”
Putin in ‘Russia and the Changing World‘ 2012.

Russia’s central bank is Rothschild and oversaw the proliferation of commercial banking in post-Soviet Russia. ‘Give me control of a nation’s money and I care not who makes the laws’……

Who created the Oil boom that allowed Russia to rebuild its army? Why, the US Empire in its quest to defend the Petrodollar of course! When will we learn about multi faceted strategy coming together? The Money Power’s strategists are good at what they do and this is just a case in point.

Putin did not kill Oligarchic rule in Russia, what nonsense! He pushed back Berezhovsky and Khodorovsky, because they were a threat to the Russian State, which the Money Power needs to be strong and centralized. The Putin – Oligarch deal is quite clear: The Kremlin for him, the economy for them.

Why is he not providing interest-free money to the people? Why is the population in Russia still tanking after 15 years of his rule? Where did all the Oil money go besides the Oligarchs and the weapons industry? Why is he not exposing the bankers that are running this show? Why is he pretending this is a conflict of nations?

And why is Putin so assertive? Because China is behind him.

We want to take sides, but Russia is just another Empire and would love to rule the world if the US were not in the way. ‘They’ always have us choose between evil and lesser evil, but when are we going to make some choices of our own?

Managed Conflict is the goal and the means on the road to World Government.

The decapitation of the US Empire and the Dollar is longstanding Money Power policy. The US is a Colussus on clay feet, it’s already dead. Anybody can see that.

Babylon is bigger than the US, bigger than Jewry. It’s temporal power and it is One. Its core is the Capitalist global monopoly, encompassing first and foremost banking and secondary all major Transnationals.

World Government is just the externalization of the age old hierarchy.

Enough of the Putin worship! Give Peace a Chance!

Related:
The US Empire is Not the Money Power!
Hugo Chávez: Enemy of the US Empire, Marxist and Money Power Stooge
Is China part of the New World Order?
The Dying Dollar and the Rise of a New Currency Order
The Few Banks that Own All
Does Rothschild own all Central Banks?

 

 

Interviewing Michael Tellinger

Michael Tellinger

(Left: Michael Tellinger during one of his presentations)

Michael Tellinger is a scientist and activist from South Africa. As a scientist he has brought an ancient, vast and interconnected network of stone circle constructions to the attention of the world. There are millions of them, all over southern Africa and they show advanced knowledge of sacred geometry. He theorizes they were part of a huge infrastructure for energy creation based on hypersound. He has linked them to other ancient structures, including the Pyramids.

He’s written a number of books, among them “Slave Species of God“, based on the work of Zecheria Sitchin and his latest, “Ubuntu Contributionism“. He believes money was introduced into human society by ‘Priest Kings’, ‘the Gods’, most likely an alien race, as a control mechanism.

It is this link that has got him into activism, creating alternatives for our current money based economy and fighting the banks. He’s been in court for three years against the South African Reserve Bank. He’s building a community, Ubuntu, based on an economy free of money. And he’s running for Parliament, with good chances of success.

The core of his program is monetary reform, based on the end of banking as we know it and money creation aimed at unlocking human potential instead of usurping it.

In the interview we cover:
Stone Circles
Humanity’s fascination for Gold
The origins and nature of money
At 40 min: his litigation against the Banks
International developments in taking the Banks to court
Monetary reform on a national level with Ubuntu Party
At 1:07 : Community currencies do’s and don’ts
Why the Gelre is the most advanced unit available at this point
The disconnect between the awareness on the web and the stone age conversation in the Main Stream
The need to speak up to break the silence and isolation of the awakened

The interview and Michael’s presentation in Groningen were organized by Earth Matters, a leading Alternative Media outlet in the Netherlands. Many thanks to them for setting up this wonderful opportunity.
Camera: Natasja Depassé
Production: Arjan Bos

Everything about Michael Tellinger’s inspiring work:
http://www.michaeltellinger.com

Austrians: Decry Usurpation, Demand Usury!


Wayne Walton has been making some splendid memes recently and he has been so kind as to make two for Real Currencies too! I could not resist sharing them here!

For all RC articles on the Austrian Economics con game, see Faux Economics.

Austrian Economics = Faux Economics

Austrian Economics = Faux Economics

 

Austrian Economics = Cognitive Dissonance

Austrian Economics = Cognitive Dissonance

 

 

 

 

 

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