A private banking cartel that is entirely controlled by the Elite has secretly taken away from governments—and consequently, from "the people"—the authority to create money.
Another greatly researched and profound article. Extremely insightful. I wonder whether we could get people like Joe Rogan Neil Oliver Tucker Carlson and Russell Brand to bring this topic up for discussion on their shows.
Seriously, look at the track record of any high profile public figure that has directly challenged the system, it never ends well. Like the Wellstone family, which coincidentally died in a plane crash, as one of many examples, of untimely demise.
This is a deep dark quagmire, and most don't even have the courage to stop paying the mortgage or taxes.
"The Creature from Jekyll Island" by G. Edward Griffin is a fascinating, though dark, book if one wants to dig even deeper into the coup by the oligarchs that created the US Fed. As a former CPA and MBA turned entrepreneur history fanatic, I've been studying this for years and spreading the word. And yes, people just accept our system for what it is and can't imagine life without the FED and the current banking "arrangement". It's just normal to them. I have a beer and bonfire gathering tomorrow evening to discuss this topic with a group of friends who are slowly waking up and am about to share this excellent article with them and others. It's up to us to keep the great awakening alive and growing.
What you write is all true. Thank you. FA Hayek wrote about this topic in The Denationalization of Money. His third edition was published in 1990. In it he described competing currencies. We tried in 1995 to 2007 to implement competing digital gold currencies. We were shut down.
To solve the e-gold problem and create a very decentralised currency, Satoshi Nakamoto invented Bitcoin. It works. And there are now thousands of competing private digital currencies. About $1.1 trillion in total market cap even after all the orchestrated chaos of the last year.
We can get out from under control. Which is why Goldman Sachs backs Ethereum. They want to keep control. Several national cbdcs are based on Ethereum already. Bitcoin is better.
It wouldn't surprise me if almost all crypto is already controlled by central banks!
The trap has been set, just cue the cyber pandemic, and good luck using any form of electronic currency if the ruling class decides to shut down the grid.
I don't trust anything electronic, even though there are many useful tools, its all too easy to become dependent or worse dangerously distracted by most of these toys!
Nothing kills the economy quite like a Shanghai style lock down, even with a grid failure, there will still be some movement of goods.
Fortunately that was just an obedience test, and ultimately the government failed, as it seems when you take away livelihoods, the masses will become uncontrollably restless.
Interesting and obviously worrying perspective. I remain amazed so many very smart people don't seem to ever talk about it. Mostly makes sense I guess, but I doubt there is actually any way out except by violent revolution...... beware of what you wish for.
99.8% of people have no clue that this is the case, thus they'll be darn happy when they get 10 cents back on the dollar in the form of a CBDC. Not a clue.
Apparently not, although I try my best not to feed the beast anymore than needed by living as minimally as possible, and most importantly, staying healthy.
The Bank of England was nationalised in 1946 and in 1998 given special powers which supposedly allowed it to operate outside of political intrigue. Not sure if any of this was more than cosmetics given the current state of the financial system!
Ah. Just read how in 1974 a reverse takeover occurred which putsthe 'business of money' back in private hands. Propaganda may influence thinking but silencing the truth is far more powerful!!
"When a bank extends credit, it simply increases the borrower's deposit balance in the bank by the loan's amount. The money was neither previously paid into the bank by anyone, nor was it removed from anyone else's deposit."
But - when you spend it, the money comes from Somewhere and goes out to Somewhere else. The first Somewhere is who needs to be paid back.
Another greatly researched and profound article. Extremely insightful. I wonder whether we could get people like Joe Rogan Neil Oliver Tucker Carlson and Russell Brand to bring this topic up for discussion on their shows.
Doubtful, unless they are feeling suicidal!
Seriously, look at the track record of any high profile public figure that has directly challenged the system, it never ends well. Like the Wellstone family, which coincidentally died in a plane crash, as one of many examples, of untimely demise.
This is a deep dark quagmire, and most don't even have the courage to stop paying the mortgage or taxes.
"The Creature from Jekyll Island" by G. Edward Griffin is a fascinating, though dark, book if one wants to dig even deeper into the coup by the oligarchs that created the US Fed. As a former CPA and MBA turned entrepreneur history fanatic, I've been studying this for years and spreading the word. And yes, people just accept our system for what it is and can't imagine life without the FED and the current banking "arrangement". It's just normal to them. I have a beer and bonfire gathering tomorrow evening to discuss this topic with a group of friends who are slowly waking up and am about to share this excellent article with them and others. It's up to us to keep the great awakening alive and growing.
What you write is all true. Thank you. FA Hayek wrote about this topic in The Denationalization of Money. His third edition was published in 1990. In it he described competing currencies. We tried in 1995 to 2007 to implement competing digital gold currencies. We were shut down.
To solve the e-gold problem and create a very decentralised currency, Satoshi Nakamoto invented Bitcoin. It works. And there are now thousands of competing private digital currencies. About $1.1 trillion in total market cap even after all the orchestrated chaos of the last year.
We can get out from under control. Which is why Goldman Sachs backs Ethereum. They want to keep control. Several national cbdcs are based on Ethereum already. Bitcoin is better.
It wouldn't surprise me if almost all crypto is already controlled by central banks!
The trap has been set, just cue the cyber pandemic, and good luck using any form of electronic currency if the ruling class decides to shut down the grid.
In the name of "public safety", of course.
It would surprise me. I've taught cryptography since 1992. Worked with a number of founders and early developers.
Shutting down the grid kills the economy. I'm prepared and able to live off grid for months.
I don't trust anything electronic, even though there are many useful tools, its all too easy to become dependent or worse dangerously distracted by most of these toys!
Nothing kills the economy quite like a Shanghai style lock down, even with a grid failure, there will still be some movement of goods.
Fortunately that was just an obedience test, and ultimately the government failed, as it seems when you take away livelihoods, the masses will become uncontrollably restless.
"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks." ― Lord Acton
Great article. I didn't know that the capital stays in existence whether the application is accepted or not. Do you have more info on that?
Also, it seems the central banks were losing control in 2019 but coincidentally Covid came along buying them a bit of time.
https://nakedemperor.substack.com/p/did-inflation-or-the-lack-of-it-result
Interesting and obviously worrying perspective. I remain amazed so many very smart people don't seem to ever talk about it. Mostly makes sense I guess, but I doubt there is actually any way out except by violent revolution...... beware of what you wish for.
99.8% of people have no clue that this is the case, thus they'll be darn happy when they get 10 cents back on the dollar in the form of a CBDC. Not a clue.
All money is debt!
Anyone got a solution to that?
Apparently not, although I try my best not to feed the beast anymore than needed by living as minimally as possible, and most importantly, staying healthy.
Great article, but I saw a few mistakes:
King James II was Catholic, not Protestant, at least at the point he was deposed.
The pallets of money don't say what bills they are composed of. I guess they are $100's.
Thank you. You are right. My mistake, mixed something up. I corrected it.
They're $100's yes.
Thanks. I just happen to know about James II because he was hated in Ireland after he fled and Irish Catholics were oppressed.
He's called "Séamus a' chaca" in Irish Gaelic, which translates as "James the shit".
The Bank of England was nationalised in 1946 and in 1998 given special powers which supposedly allowed it to operate outside of political intrigue. Not sure if any of this was more than cosmetics given the current state of the financial system!
Ah. Just read how in 1974 a reverse takeover occurred which putsthe 'business of money' back in private hands. Propaganda may influence thinking but silencing the truth is far more powerful!!
"When a bank extends credit, it simply increases the borrower's deposit balance in the bank by the loan's amount. The money was neither previously paid into the bank by anyone, nor was it removed from anyone else's deposit."
But - when you spend it, the money comes from Somewhere and goes out to Somewhere else. The first Somewhere is who needs to be paid back.
If people only knew that the ills of the world can largely be laid at the feet of bankers . . .