Thursday, 8 January 2009

Our Fraudulent Monetary System

One thing that I become increasingly frustrated with the more I learn about is our debt based monetary system. It is my strong belief that not enough people care to research and learn about this for themselves, as how our monetary system works is far from a secret. I will try and give a very brief run down of it now and give you some links and books if you want to research it further.

A simplified version of it goes like this....
'Money' is created out of nothing by the large banks by giving out credit. The money we use is not backed up by gold as it once was, it is now only backed up by the promises that people and corporations will pay back the money they owe banks. It is money being created that causes inflation. Inflation is directly proportional to the amount of credit because every time money is created it takes value from existing money. The only reason this can happen is because our banks use a 'fractional reserve' banking system. 'FRB' works a bit like this :

1.Banks take deposits from customers.

2.Banks realise that not everyone takes money out very often, and alot is just sitting about in the vaults.

3.The banks are now able to lend this money away, or invest it without worrying about not having enough should everybody need to take out their money.

4. Having put more cash out into the economy, banks can now also lend money that they don't even have, knowing that there is cash out there to pay it back.

5. Banks win, we lose.

This system is highly unjust, and keeps the owners of these banks extremely powerful while we work unnecessarily hard to pay off debts that we shouldn't even have.

This system is unsustainable, it has been predicted that the dollar will collapse in around 2010.

The only way actual notes get in to the system is through our government exchanging printed promisary notes for 'number money', money that doesn't exist as notes, only in writing, with the banks.

I think I have just about covered the basics of this subject, but it is extremely complex and I sincerely advise you research as much as you can. The more you learn about this the more apparent it becomes that we are being severely exploited. The only reason this system works is that people rarely question it as it is all we have ever known. He are some very informative links, including an official report on how money works called 'Modern Money Mechanics' by the Federal Reserve Bank of Chicago.

Modern Money Mechanics

Index of Articles on Prosperity, a UK based site dedicated to a monetary reform

The New Money Textbook, an interesting cover-all of the UK monetary system

How I Clobbered Every Bureaucratic Cash-Confiscatory Agency Known to Man
, a book about being able to not pay back debts, mortgages or credit cards.

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