Banking and Finance

First came the Temple Priests, then the Goldsmiths and the commercial bankers of today. The first use of the Fractional Reserve System was in the Temple of Shamash under Hammurabi, the sixth king of Babylon

"The money changers have fled from their high seats in the temple of our civilisation. We may now restore that temple to the ancient truths," he told the nation. President Franklin Roosevelt March 1933

Self-Inflicted Slavery

"Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it all back again. However, take it away from them, and all the great fortunes like mine disappear, and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits" - Sir Josiah Stamp (President of the Bank of England in the 1920s, the second richest man in Britain).

We are ruled by a capitalist financial system that has usurped the power of government, and set about to pauperise and control the people. It is now a centralised power-thirsty machine which promotes war, steals the people's wealth, and uses every type of propaganda to keep its position.

The Bankers realise that an under-educated, ignorant and confused population is easier to subvert than a healthy and intelligent people. The ruling Establishment therefore promotes all manner of degeneracy, decadence and corruption including drug use, sexual perversion and trivialities.

Through the use of high technologies including; cash machines, computer transfers, automated banking, and the internet, the Bankers and their associates can exert almost total control over a nations’ finance, and thus increase their powers to amass even more wealth through their use of usury. When all transactions are processed in this manner, the cashless society will have been reached, a Banker's paradise. The cashless society will be the ultimate instrument in social control; no more tax evasion, no more "extra undeclared earnings", no existence outside the system.

Unrestricted Expansion of Credit

Over many years, the Central Banks have systematically and deliberately fostered parabolic credit and financial excess with the explicit purpose of inflating asset prices. What has confused most people is the fact that the bulk of the credit excess poured into asset prices and soaring trade deficits, rather than into the Consumer Price Index (CPI), as had been usual.

Principally, credit excess may find three different outlets:

1. Rising prices of goods and services
2. Rising prices of financial and tangible assets
3. A rising trade deficit.



As I have repeatedly stressed, speaking of inflation requires a distinction between cause and effects. It ordinarily has one and the same cause: excessive creation of money and credit. But its impact on the economy and its price system depends entirely on the specific purposes for which the borrowed money is used. Therefore, its effects may differ immensely.

The Not So Welfare State

The welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes. A substantial part of the confiscation is affected by taxation. But the welfare state supporters were quick to recognize that if they wished to retain political power, the amount of taxation had to be limited and they had to resort to programs of massive deficit spending, i.e., they had to borrow money, by issuing government bonds, to finance welfare expenditures on a large scale. Deficit spending is simply a scheme for the "hidden" confiscation of wealth.