They laugh all the way to the bank

By Sydney White

In Argentina, they're dumpster diving; in Venezuela, the oil interests lock the workers out; in Africa, AIDS clears the land for the carpetbaggers; in Russia, thousands are freezing to death on the streets; and America -- a nation that once welcomed the "huddled masses, yearning to be free" -- can't wait to bomb them.

Yes, the bankers' end game has reached even America, the only nation that ever managed to escape their company store, albeit briefly.

The environment and species disappear before our eyes, sacrificed to "jobs" that rape the earth and swell the tide of toxins.

But these jobs supply governments with taxes, which in turn are handed over to private banks to pay interest on loans. Nations with abundant resources are declared bankrupt by the International Monetary Fund (IMF) and their people are stripped of every social resource in order to swell the coffers of unnecessary loan sharks.

Science, which should be serving humanity, is owned and driven by the financial oligarchy, while the world reels under disease, famine and war. The bankers, who fund these atrocities at no cost to themselves, laugh in their cups. They have conned real wealth from all nations through "the racket of the storage of valuables for safe custody" -- now known as the "fractional reserve".1

Their chosen nations are then incited to grab the resources of others through war. As the tail wags the dog ever more furiously, America sends thousands of troops to flog the dead horse that is Iraq.

Global control of oil is the second step in world domination by the money lenders. Two centuries ago, their most prominent banker said, "Let me control the money of a nation and I care not who makes its laws."

In 1844, Benjamin Disraeli quoted Lionel Rothschild as saying, "Can anything be more absurd than that a nation should apply to an individual to maintain its credit?" But this absurdity is exactly what most nations have been coerced into committing, to the detriment of their people. The bankers get away with it because they buy (with money from thin air) the media and the universities. Students and their parents imbibe these money myths as gospel.

Myth #1: Government creates the money

The first myth that Joe Citizen believes is that money is created by government; logic tells him that government should create the money.

If you tell him that private banks lend to government in the same way that they do to individuals, at interest, and that these loans are the money supply, he will laugh. If you then tell him that each $400 of private bank money is backed by almost one dollar, he will refuse to believe anything so bizarre. Until he is shown the evidence.

Some people who have had the banking scam explained to them simply say, "Oh, that can't be true." Then they go off to pay their 100th mortgage payment.

The myth of government-created money holds sway over the public, though it is in direct contradiction to the government's enormous debt. This is easily shown. Though the debt is always the reason for cutting public programmes, no one ever asks, "To whom do we owe this enormous debt?"

The myth rules. The propaganda is so successful that even the "educated" accept the debt as a part of nature, something that has existed since the planets formed. They do not question its validity, nor do they ask for the names of its beneficiaries. Meanwhile, the interest, which is 95 per cent of the debt, is compounding as you read.

Myth #2: We can pay off Canada's debt

The second myth, beloved of the money lenders, is that the debt can be paid off. Nonsense! Only 2 per cent of new money is now created by our Bank of Canada interest free. This means that the more we develop our infrastructure and our social programmes, the more we produce, the more we owe to the private bankers who charge us to use our own money!

This vicious system is based on social debt (indenture to the banking cartel) rather than social credit, which is the original purpose of money. That is why the richest country in the world, the U.S., has the highest debt ($17 trillion). And blinded by billions (from thin air) spent on buying every "economist" and government, the world suffers and accepts this horror as a "natural" result of their "living beyond their means." They tighten their belts and more children starve and die.

This global rape and murder can be stopped.

Nations can develop their own resources without the "assistance" of private bankers. They must set up publicly owned central banks which will issue interest-free money based on their real wealth, natural resources and the ability of their citizens to develop and conserve those resources. And banks must stick to lending only what they have. This means they cannot create money from thin air, much less lend it to nations.

Their global power would disappear overnight. But be warned that, before they will hand over this spurious power, the planet could be bled and razed. In fact, when an early Rothschild was asked for the best time to buy, he answered, "When the blood runs in the streets."

Myth #3: The banks lend only deposits

The third myth is that the banks lend out only that money that has been deposited with them by others. If they did, they would not need a "fractional reserve" -- which is exactly what it says: for every $400 the banks lend, they have a mere fraction of that sum in the vault, about one dollar.

Your loan is thin air, but they enter it as a "deposit". They know that you will assume that the deposits they lend are monies that people bring in for safekeeping. They are not. If they loaned out that money, it would not be available for people to withdraw from their accounts.

Deposits that are contracted to be in the bank's keeping for set terms are used, but merely as a base from which to launch unbacked loans into the stratosphere. That's why Roosevelt closed all the banks for a week -- in order to be able to bail them out and set them up again. Of course, the people were the losers. He had to set up minimum welfare programmes for the destitute citizens; the bankers got the biggest welfare programme.

Myth #4: Canada's assets are low

The fourth myth that the corporate-inspired government propagates is that the nation's assets are low, only in the billions of dollars in value. This lie promotes the silly idea that the country must borrow from private persons. Nothing could be further from the truth.

In reality, our assets far exceed the wealth of all the bankers put together. However, in order to reinforce the supposed "need" for a loan shark's credit, our government indulges in some creative accounting practices. Our physical and social investments are all entered into government books as current expenses. While our temporary government is busy devaluing our assets, the permanent government (as Lewis Lapham calls the banking cartel) is busy over-valuing their assets.

Unfortunately for shareholders, this scam didn't work for Enron and Worldcom, who tried to follow suit.

Paul Martin, soon to be crowned, is fully aware that our interest-free loans have been taken from our Bank of Canada and transferred to his private banking friends long ago, costing us billions in interest that could be applied to health care and education. Let's ask him why he has adopted this ludicrous plan before his folly loses us every public asset we have built.

Myth #5: We have a reserve in theBank of Canada

Another popular myth is that we have a reserve in the Bank of Canada -- that is, collateral from the private banks to rein in their loan inflation. Not true. The reserve was taken out in 1991. Why? Because the bankers complained that they weren't getting any interest on it.

When you give collateral to a bank, can you demand interest on it? I don't think so. But our government waived the reserve to help bail the banks out of their losing gambles in Latin America. Even the U.S. has a 3 per cent reserve.

Myth #6: A nation can go bankrupt

There are many lesser myths that we encounter every day, but the most absurd myth of all is that a nation can go bankrupt. We occasionally hear on the "news" that a country is going into bankruptcy. The listener sighs with relief that he is not dumpster diving in Argentina or fighting a lockout in Venezuela. But he never asks, "How can a banker have more credit than a sovereign nation?"

He has been processed like a cheese by "education". His eyes glaze over at the mere mention of "economist". Mental fatigue will never threaten his life. He has not noticed that "finance" and "economy" are two completely different equations.

The money lender has superimposed his myths over the reality of national resources, the true wealth of any nation. There may well be a financial collapse if the bankers decided to pull in their loans from thin air again. But there will be no resource collapse. They are still there!

The Great Depression was not caused by extra-terrestrials swooping down and sucking up all our mines, woods, waters, farms, etc. and zooming off with them to their home planet. The Depression was caused by the Federal Reserve clawing back one-third of their "loans"/money within a very short time. There were no tickets of exchange to get things done. Even Milton Friedman admits to this.

Unfortunately for the naive and enthusiastic young activists, Marxists do not understand this admission. They argued at one of my lectures that the Depression was caused by "overproduction". Peter Kormos, one of the few who understands monetary problems, laughed. I had to explain that when there is under-production of the money supply, nothing can be bought.This gives the impression of over-production.

In 1917, Lenin himself said, "To control the production and distribution of goods without controlling banking practices is an absurdity."2

It is no exaggeration to say that it is a tragedy that the passion for justice within the universities is molded by private funding and economics professors who worry about tenure.

A proper financial collapse is recommended, where the money scam is ended and a real economy takes its place -- one tied directly to the wealth of our resources, where thousands of jobs improve and conserve the environment, where people are counted as the assets they are, and given social credit instead of social debt.

We don't have to go right or left or towards totalitarianism of any kind. Let's go straight to the money issue; let our goernment take back, incrementally, the loans that have been turned over to the private sector; and take back our sovereignty.

This would not cause inflation because it would not create more money. It would merely return the loans already in existence to the central bank.

There is a final note of cheer. And cheer we will, for the NDP candidates who boldly announced on Studio Two and on the Michael Coren Show that our government should "stop borrowing from the private sector and go back to interest-free loans from the Bank of Canada." Joe Comartin, Lorne Nystrom and Jack Layton all endorsed this plan, which would give us billions back and save our health care and education.

And here's to you, Paul Hellyer, for offering the same advice over the years.

We know that the sovereignty/money issue is above all parties. Is there a winning coalition on the horizon? Let us hope that, despite the bought media, the honest and intelligent advice from these men will get the attention of all who toil on the bankers' plantation.

We can show other nations how to do it. Now's the time to wage guerilla info wars. Let's use the internet and the political talk shows until Joe Citizen can say, "Yes, government issues the money. I am the government and I wanted it that way."

1. The Babylonian Woe, David Astle, 1975.
2. The Works of Lenin, V.14, pp 182-183

Sydney White is a member of COMER. She dedicates this article to the late John Hotson, Professor emeritus of Economics at the University of Waterloo, who warned Paul Martin to fire "the bastard monetarists" instead of innocent civil servants.