Government Betrayal
Government Betrayal
Money obtains its value from laws made by the government which in a democracy theoretically represents the interests of the People. Its main use is as a convenient substitute for barter and it is also used for savings.
Most People reasonably believe that the government issues the money on behalf of and for use by the People to enable them to buy sell and save and thus enable the economy to function. They see banks as intermediaries whose function it is to take deposits of savings and to lend these deposits to borrowers.
The reality is that the government issues less than 2% of the money in our economy and the banks issue more than 98% out of thin air using accounting trickery and lend it to the People and the government charging interest on the money lent. The result is that most People have to be in debt to banks to enable the economy to function at all. There is no doubt that the government has the power to issue 100% of our money supply. This is an essential feature of any sovereign nation.
The bank’s ability to issue over 98% of our money supply is enabled by fractional reserve banking which started life as a fraud. Goldsmiths would take deposits of gold for safe keeping and give a “Gold Receipt” to the depositor as evidence of the deposit. Depositors started using these gold receipts for transactions instead of the actual physical gold because it was more convenient. Soon the goldsmiths realised that depositors rarely came to collect their gold. They started issuing gold receipts as loans and charging interest without receiving any gold. It became normal for them to issue gold receipts to the extent of 10 times as much gold as they held.
The government’s failure to issue our money is a complete betrayal of the People. Instead of issuing the money the government taxes the people and also borrows from private banks including foreign banks. It is also in the process of selling off the assets of the People by privatising government owned utilities. The government can and should pay for all government expenditure by issuing the money debt free and this would do away with the need for the government to tax the people, borrow from banks and sell off the Nation.
The ability of the banks to create money out of thin air by accounting trickery using their unstable Ponzi Scheme fractional reserve banking system must be ended by introducing a 100% statutory reserve deposit rate on all bank deposits and prohibiting private banks from creating currency or credit. The banks could still engage in money lending by first borrowing from the government but it would be the People’s government which would be exercising the sovereign power of issuing the money for the benefit of all the People.
The present system amounts to a fraudulent conspiracy between the government and the banks to force the People to borrow from banks and to steal from the People through taxation. Our government has become a puppet of the bankers. Remember the words of Mayer Amschel Rothschild (1744-1812), founder of the House of Rothschild. “Let me issue and control a nation’s money and I care not who writes the laws.”
Apart from being a fraud upon the people the current banking system is unstable and likely to collapse at any time. On the 14th February the Turnbull government snuck through the Australian Prudential Regulation Authority (APRA) bail in law without an amendment proposed by One Nation to exclude bank deposits from its operation. This law enables APRA to use depositor’s funds to prevent bank insolvency. The bank deposits guarantee scheme (Financial Claims Scheme) FCS is no defence to this as it only comes into operation once a bank actually fails. Even then it remains at the government’s discretion whether or not to guarantee the deposits so it is not a real guarantee.
There is a fuller discussion of this issue here:- The Bank Deposit Bail-in Conundrum Of caused the speaker in this video does not dare to suggest that the government could issue the money to compensate depositors of the failed bank. The only alternative mentioned, to a levy on other banks, is taxpayer money. You have to understand that the bankers have made it professional suicide for any economist to even whisper about government issued money. Of cause government issued money would be the ideal solution and if it happened the trend would be irreversible and before long the People would have thrown off the chains of their debt slavery.
The constitution must be amended to:- (1) Prohibit the government from borrowing money, (2) Require the government to issue 100% of the money supply of the Nation, and (3) Outlaw taxation of workers and Australian owned businesses.
John Woodward
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