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My name is Anthony Migchels. I live in Arnhem, the Netherlands. I am married and we have twin sons.

Waking up to the Money Power after 9/11, I started the Gelre, the first regional currency in the Netherlands.

This blog raises awareness of monetary matters, most notably the nefarious implications of interest, as a way of empowering people and the commonwealth in their struggle against the Money Power.

My basic statements are these:
On Interest
Usurious Usurpation
The Few Banks that Own All
The Goal of Monetary Reform
Disconnecting from the System
Mutual Credit, the Astonishingly Simple Truth about Money Creation
All of my articles and most of my actions can be understood in the light of these.

A comprehensive critique of Austrian Economics can be found at ‘Faux Economics’. We syndicate critiques of Austrianism at Recovering Austrians.

The solutions are discussed at ‘Interest-Free Economics’.

You can contact me at

Thank you for visiting Real Currencies!

  1. Matthew Busbridge permalink

    Hi Anthony, thanks for the great content; I’ve enjoyed reading your articles. FYI, I’ve just noticed that Google no longer returns your site as a search result when typing in “real currencies”; I now need to type in “real currencies Anthony Migchels” for it to appear. I wonder what’s gone in the background?

    • Yeah, everybody is (shadow) banned, I’m sure Real Currencies is too. It’s also impossible to link to this blog on FB.

  2. Hello Anthony! I have read several of your posts and I enjoy especially the critique of Austrians.
    A few questions:
    1. I note that your most recent post is toward end of 2016. Have you stopped blogging, or just taken a sabbatical?
    2. Have you ever done a critique of MMT? MMT seems to be rising as a popular meme, along with income guarantee, job guarantee and related stuff. I’m interested but not convinced. I would love to read your perspective on it.
    PS: I’m going to send this message to your email as well, since you might not be checking posts on this page.

  3. KSS permalink

    E. Michael Jones on Swedish radio

  4. Hi Anthony, Just listened to your show on Red Ice. It was good. You mentioned a bible verse regarding usury. So I was just wondering if you knew about the curses in the bible regarding usury. I documented this on my site here:

  5. Lizzi hunt permalink

    Please add me to your emailing list etc

    Great site.

  6. James permalink

    Hi Anthony, I’m not sure how to contact you so I am posting this comment. Read your latest piece on banking and murder with interest. Am familiar with the themes and territory but I see from the comments on Henry Makow’s site that people still do not ‘get’ the usury issue. They persist in thinking that money would have ‘no value’ without compound interest. I agree that the ‘jewish question’ is in a sense a distraction from the whole question of usury. Which is probably why Ellen Brown and Ben Stills don’t go anywhere near it.

    I have a favour to ask. Would you be willing to do an interview with Morris of 108morris108 who does interesting work and is trying to cover the usury question with his audience. I mentioned your work to him and he asked me to contact you. You can find his channel here …


  7. Michael Kainz permalink

    Hallo Anthony!

    I have just started a community on google+ please join the conversation and my thoughts in the interational section. I am austrian and am kind of confused when I read the “rocovering austrians” 😉 I like your blog and will try to follow your conversation too!

  8. Have you heard of the alternate currency Chiemgauer?

  9. Najam Saqib permalink

    The Bank’s chief intrument of control is USURY, i.e. interest, > “Time” as basis of increase on deposits or loans of money. Usury is not a person or a thing, and it cannot be seen in darkness or ignorance. IT$ a ticking-$ystem to govern and dis’locate persons and things. It$ “Idea” is the % rate in the false concept “Time i$ Money” ! Wow !. Think about it, is it really ? Magic ? Yeast ?
    Money is considered the medium of exchange, the value carrying fluid used in economic transactions, just as blood is to the body of the living, nourishing and distributing energy.
    The systemic pulse is driven by the manic-$wiss-rotor moving monetary-digits that are converted into purchasing power, i.e. of real wealth. The working ferment that bubbles-(sucks, puffs & pumps) is visible to all those who care and find courage to See. Verily, it$ Here, – you have to seek The True Light, because Truth shall set you free, from the evil Bond’Age.


    Who was Hjalmar Schacht? Schacht was born in 1934 as the son of an aristocratic family. He joined Dresdner Bank in 1903 and already in 1905 was meeting people like JP Morgan and Theodore Roosevelt. He studied Hebrew to advance his career. In 1908 he joined Freemasonry. He oversaw the financing of Belgian/German trade during WW1 and used his former employer Dresdner Bank for this. This blatant conflict of interest led to his dismissal, but the revolving door was not invented recently and he was taken back by Dresdner Bank after this.
    Schacht was born in 1934 as the son of an aristocratic family. Born in 1934 & was metting people in 1903, TIME TRAVELER, I GUESS!!!!!!

  11. Chris permalink

    Hello Anthony,

    Actually, in one of the latest Still Reports from Israel, they have a monetary reform movement going on as well now, Ezra Pound was deceived and used by Mussolini, though he was correct on Usury. The Jews are victims of fractional reserve banking just like everybody else, and they didn’t all jump at the chance to occupy Israel, they were pushed. Over half of them came from Arab countries in and around 1948, leaving behind a total area of real estate valued at $300 Billion, more that four times the size of the Palestine. It was more like when Pakistan and India became independent. Another 2 million Jews now living in Israel were driven out of the Soviet bloc after the ’73 war, Breshnev did it to show his support for the arab cause. Only a small number are Jewish nationalists, some of them were encouraged to emigrate from Saudi Arabia over a hundred years ago by the Muslim Sultan, he hoped they would develop the area. The Palestinians should complain to those folks and not blame the Jews so much. They could also complain to the British for bringing in the Grand Mufti in a classic divide and conquer move before WW2, same guy that cut his teeth shooting up a greek city on the Turkish coast after WW1.

  12. Chris permalink

    Hello Anthony,
    My parents were members of the Social Credit Party in British Columbia, I rediscoverd Douglas’s ideas after the 2008 crash had my friends looking for answers. Have you heard of the UKColumn’s Bradbury pound campaign. I know they can be critical of Jews and Israel at times but they might have the right idea for fixing England. They’ve mentioned the Positive Money movement in England is being hijacked and they don’t trust it anymore. You’ve probably heard of the Geurnsey Pound, the channel islanders figured it out over 200 years ago and proved it works.

    • These days, credibility and not talking about Organized Jewry and the Zionist Entity in Palestine don’t mix………..I agree with UK Column, although Positive Money is changing tack, which I admire.

      I fully endorse Regional Currencies, like the Bradbury Pound.

  13. vish permalink

    Hello Anthony!

    Would you mind writing another article about the current situation in Russia as of July 2013, and how Putin and his administration/the Russian central bank are handling the economy.
    If you could, it would be very much appreciated! I really enjoyed your previous article on Putin. Thank you in advance for any information and insight you can provide!

  14. From one anti-usury activist to another … “Thank You” for your work here.

    You may enjoy a couple of my own articles on this topic:

  15. Hoi Anthony,

    Ik heb zojuist je laatste artikel Babylon = Usury gelezen. Helemaal in de roos, de spijker op zijn kop. En wellicht gaat het nog veel verder dan dat jij zelfs beseft. Ik heb een artikel op Argsusoog staan wat je even zou moeten lezen om mijn achtergrond te begrijpen:

    Door DNA beschadiging vanwege vervuiling bij geboorte ben ik zeer gevoelig voor vervuiling. In mijn zoektocht naar de oorzaak van mijn ziekte kom ik na 10talle jaren uit bij de dezelfde oorzaak: Usury. Naast Woekerrente is er een andere oorzaak dat zijn woekerwinsten oftewel winstmaximalisatie.

    Ik woon intussen 8 jaar in Noord Oost Thailand, maar daar gaat het ook niet goed meer vanwege de vervuiling uit China. Gelukig is door de economische crisis de vervuiling wereldwijd wat afgenomen. Op dit moment ben ik 3 maanden op vakantie in Australie, omdat het zuidelijk halfrond aanzienlijk minder vervuiling heeft dan het nooerdelijk halfrond.

    Ik zou graag eens met je spreken. Op de alternatieve websites wordt enorm veel geschreven, maar helaas begrijpt 99.999% nog niet dat “woeker de moeder aller problemen is”.

    Er moet toch een simpele manier zijn om de massa aan het verstand te peuteren dat ze bijna al hun inkomen afstaan aan rente, belastingen en woekerwinsten en dat dit totaal onnodig is.

    Groet, Richard

  16. John Forza permalink

    I think you need to be more careful about clearly defining the line between what you stand for as far as alternative local and regional currencies, and what the central bankers are working to do on the same front. The line currently is not clear. You are aligned, philosophically, on many of the same ideas as the central bankers. Are you working for them? Social engineering for Communitarianism?

    What is your biography and personal history? What “clubs” do you belong to? What is your political direction? Who have you worked for in the past? Who is your mentor?

    • Really? That I don’t judge the CB’s in the same way as the austrians does not mean I don’t want to get rid of them John, but I like to stick to facts and not silly demonization which is the norm even in the Alternative Media.

      If you can explain to me how my stance against usury, the boom bust cycle, power centralization and materialism is compatible with (central) banking, then I’d be most interested to hear it.

      My proposals are quite transparent and simple: End the state monopoly on money. Have the state print some interest free cash, preferably in the form of interest free credit or (second choice) Social Credit and have national money complemented with usury free regional currencies.

      • John Forza permalink

        “If you can explain to me how my stance against usury, the boom bust cycle, power centralization and materialism is compatible with (central) banking, then I’d be most interested to hear it.”

        If you know anything about social engineering or Fabian socialism, you might then know that it is common practice to mix factual truth with disinformation in order to distort, confuse, and redirect energies. These tactics are regularly successful. For example, Glen Beck or Alex Jones educating people about the NWO, but then redirecting their energies into completely useless activities. These “change agents” are numerous.

        You may very well be capturing our attention by giving us some degree of truth. Then you plant the seed of the idea of alternative regional and local currencies within us, to redirect our energies back to the agenda of the central bankers.

        This is why it is so very important to lay out your personal history for all to see. For all we know, you are receiving funding to run this web site. You certainly receive a lot of online publicity for your efforts. If I ran such a blog, it would be buried without a lot of money and time to promote it. Where do your resources come from? You need to be more transparent if you are legit.

        • I don’t receive any funding. I’m happy to hear that you think I get a lot of on-line publicity, but I’m not really sure that’s correct: my blog does not even rank with the first million at alexa (although it was for short while). Rense never posts my work, neither does Jones. Only Mike Rivero sometimes does and of course Rixon Stewart.

          My main ally (and in some respects mentor) is Henry Makow, who is an independent just like me, his site is major and he’s given me a platform. But Henry has many enemies in the alternative media, because he’s actually independent. All the people I work with are basically guys using their own brain.

          I’m not averse to sharing more, but I first want to ask you where you get the idea that regional and local currencies are a banker operation. I’m very positive they are quite the opposite: the main threat to their supremacy.

          • John Forza permalink

            I believe we will eventually have new, virtual local and regional currencies, and these will be tied to our carbon emissions at the individual level.

            Here is a good place to start —

            Note that the Institute for the Future recives funding from George Soros. Soros co-owns Cede & Co, better known at the DTC, which is branch of the Federal Reserve central bank in the US.

            Also, from the World Shift Network, also known as the Club of Budapest, which is one of the primary NGOs providing guidance to the UN (IMF and World Bank) —

            “We support the development of sustainable, decentralized—that is local—high-tech production, combined with local use of local resources. and the redesign of our monetary system according to a fourfold model: 1) economy of gifting (a basic matriarchal feature), 2) counter-trade (barter) economy, 3) complementary local monetary systems for regional trade, and 4) unified currency (for example called “terra”) for interregional and global trade.”

            Related information…

            “In essence, the idea of a social credit economic system is based on people being allowed more bandwidth of resources relative to the reputation they build in the society as whole, this reputation digitally tracked life-long, and the public opinion of a particular activity they are engaged in. It’s sort of like having a system that Googles your name regularly to see how many people know you on-line and how positive their opinions of you and then assigns you a credit rating based on that on the premise that what you do has a certain greater than average value to the society.

            …From this would come the notion of digitally tracking reputation and socially beneficial activity as a way of anticipating the demand for the similar activities such people are likely to need such extra resources for in the future and assigning resource credit accordingly. In effect, the system -just like when it was a commodities exchange market- automatically economically speculates on your socially progressive behavior! And so we arrive at a system of social credit economics. This might sound like a kind of communism but there are no political parties or bureaucratic institutions or nation-states here.”

            Which is the same as resource-based economics (promoted by Zeitgiest and the Venus Project).

            “The term and meaning of a Resource-Based Economy was originated by Jacque Fresco. It is a system in which all goods and services are available without the use of money, credits, barter or any other system of debt or servitude. All resources become the common heritage of all of the inhabitants, not just a select few. The premise upon which this system is based is that the Earth is abundant with plentiful resource; our practice of rationing resources through monetary methods is irrelevant and counter productive to our survival.”

    • Oh, I forgot: close all banks, dishonor all derivatives and other magic and prosecute all senior bankers or at least get them in front of a Truth tribunal

  17. Ah so i get it now you are proponent H.C Douglases social credits good on you. I wasnt really sure where you were coming from before. Have you heard of Jeremy Lee hes an Australian fellow that believes in much the same thing.

  18. samalbahaykubo permalink

    What happened to the Tolkein post?

    • It was a little experiment: WordPress allows making quotes a post so I tried to see how it looked, but I didn’t like it.


      • samalbahaykubo permalink

        I got the update, but when I checked it out, it had gone. It occurred to me that you might have been persuaded to withdraw the post.

  19. Brilliant Anthony

  20. Blazej Korzeniewski permalink

    Hi Anthony,

    First of all, to convey a positive feedback I wish to thank you for your initiative to inform about the importance of understading the currency and concepts related to it, for I’ve found – until recently including myself – how little most of us know of the processes involved in money creation, wealth distribution, interest on currency and money power.

    Given the outrage many people feel, especially nowadays during the times of awakening and discovery of enormous proportions of the unfairness in this area (bailout bonanza – be it the Fed or ECB for example) I realize that more than ever such enlightening teachings and practical, viable and fair alternatives have to be made known if the reforms and changes are to take place anywhere.

    Even more staggering is how little interest people show in this matter, squandering at the same time their rage against the “machine” by not recognizing the core issues and finally when being compelled to do something about it they voice their support – in good faith – for people or organizations who promise the change but essentially not addressing those core issues.

    I’ve stumbled upon your blogg due to “intuitive surfing” through Henry Makow’s site and that’s how I found about your work. I also enthusiasticly feel that I have to catch up with all what you’ve wirtten, especially about your regional currency project (amazing! brilliant and commendable! aren’t competitive currencies outlawed in many countries?). I find your articles to be so well versed that I shall make sure some of my more open minded friends will make the time to “stumble upon” your blogg, for it’s absolutely shocking that such vital teachings receive little or no publicity in the mainstream media (at least here in Stockholm or in my home country Poland).

    Thanks again and keep up the good work!

    / Blazej

  21. rick permalink

    I am interested in locating the book by Polgar, “How to Create a Genius”. It is not available on,, or Any ideas?

  22. Hi Anthony,

    I noticed you’re hanging around with that vagabond Les Visible…

    You can get in a lot of trouble like that!

    I’m looking for a collaborator in something, but who knows what.

    All I know is I’m tired of being ripped off. Any input appreciated.

    Something is going down and I’m part of it.

    Steve Berry
    not THAT Steve Berry

  23. Congratulations on your project!

    Please check out:

    Click to access stability%20video%20v%207.1.pdf

    I think the world needs to know that there exists a standard passive stable currency spec that provides all the functionality of money without the headaches.


  24. i have met greco, zube and lots of related folks, own 3 boxes of rare, related material, am interested in collabs on reading groups, councils, courses and kindred efforts of which real currencies should be as ineluctable a part as permaculture and self-building, on all of which i have literature set up in temporary facilities (over the next half a year or so) near R’dam.

    a similar offer to brought zippo response .. like a similar effort here months ago. sigh…

    anybody visiting here ought to really swing by since i want to pay for a jumpstart in youtoofoottubage matters (rather than figuring all that out myself).

    My book collection is a work of art and if the pics i have collected digitally could be printed and weatherized along with the 20 years of mag and newspaper cuttage we’d have a 2 prong roadshow.

  25. @ Marijus & JT,

    I’m still working on the software development for the Gelre. It is not going quite as easily as I hoped, but we are making good headway. It’ll take a few more months, but it is coming!


  26. Hi Anthony

    I was fascinated the first time I read about what you are trying to accomplish. Are you still in operation?

    You now have my email and I would like to get some additional info.

  27. How is your Gelre project?

  28. Hallo Anthony!

    Goed initiatief van jou!
    Is er een soort modus operandi van de Gelre?
    Zodat er meer lokale valuta in andere delen van Nederland ontwikkeld kunnen worden?

    • Thanks Bernhard!
      Jazeker. De bedoeling is absoluut dat het systeem verder wordt uitgerold. Daarnaast pleit ik sowieso voor allerlei verschillende soorten initiatieven om alternatieven verder te ontwikkelen!

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