I am fed up with listening to lies propagated by ‘economists’. Even the terms they use are deceitful. ‘Demand deficit’ is a term used by economists to explain a recession – the theory being that people are voluntarily sitting on piles of cash, not wanting to spend it. The reality behind a recession is most people not having enough, except maybe to pay off some debt, and a few people having almost all. ‘Savings’? That’s a cover-up word for money created out of nothing by banks in quantities that make real savings valueless. ‘Bank-lending’? A euphemism for banks creating money – again, out of nothing – for those who already have it.
The whole structure of Western finance is geared to favouring the rich – and just as important, to keeping the poor poor. The structure is legal, determined by elected assemblies which until recently were voted for (and populated by) the rich.
As class dominance shifted from feudal nobility to a new financial class, so laws were passed to favour those in possession of money (see 3 paragraphs down). These laws passed kept the masses dependent and subservient. For as long as only rich people were able to vote, this situation was open and admitted. When poor people began to get the vote (late 19th century) and were able to influence legislation, these matters passed ‘under the radar’ of public debate. It became taboo to mention, acknowledge or analyze the way money is created, or how value is created by making debt ‘negotiable’ – that is, into a commodity that can be bought and sold.
In response to the new ‘capitalist’ oppression, socialism was born. Socialism advocated taking over the trammels of power lock, stock and barrel from the capitalists and entrusting them to ‘the State’. Proper analysis of these ‘trammels of power’ was neglected by socialists and capitalists alike. It is only now, when disasters looms, that laws favouring the rich are coming under scrutiny. The result is a struggle between tyranny and genuine freedom, and the possible emergence of a new moral order.
Laws favouring those with money can be summarised thus:
17th century: laws were passed so that debt could be freely bought and sold. After that, when governments borrowed money they could give lenders ‘bonds’ equal in value to what they had lent. These bonds are effectively money for the class of people who use them as money – for the wealthy.
18th century: laws were passed so that banks could begin to create the money supply.
19th century: laws were passed allowing corporations to be legally structured so that workers would be obliged to work for as little as possible, and shareholders get as much of the profits as possible.
20th century: laws were passed (and others repealed) so that people working in ‘financial industries’ could create financial value out of nothing in the form of temporary assets linked in value to money.
The results are what we see today. Governments claiming to be ‘democratic’ work for the rich; politicians and those who seek wealth without limit pushing the international agenda. Global degradation, arms proliferation, forced migrations, theft of ancestral lands, wars, new diseases, loss of freedom and independence are just some of the consequences.
Tens of millions of lives were lost to fascism; a hundred million were lost to communism; will thousands of millions be lost under cover of the lies of ‘economics’?