-- Posted Tuesday, 24 November 2009 | Digg This Article
| | Source: GoldSeek.com
The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled.
John Kenneth Galbraith (1908- ), former professor of economics at Harvard, writing in Money: Whence it came, where it went (1975).
JK Galbraith’s statement that complexity is used by modern economics to confuse the truth about money is a fact. Simply put, bankers replaced money with credit and debt in order to profit by the indebting of others. It’s why bankers are now so rich. It is also why others are now so poor.
Understanding money is not rocket science. Modern currencies are a fraud, a fraud that has escaped detection much as did Bernard Madoff’s ponzi-scheme. Bernard Madoff’s scheme was based on the fraud that investor’s money was, in fact, invested. The fraud of modern economics, however, is that money isn’t actually money—and they don’t want you to know it.
merry old England
the mother of modern monetary FRAUD
From the time of Charlemagne until the 12th century, the silver currency of England was made from the highest purity silver available. Unfortunately there were drawbacks to minting currency of fine silver, notably the level of wear it suffered, and the ease with which coins could be "clipped", or trimmed, by those dealing in the currency.
In the 12th century a new standard for English coinage was established by Henry II — the Sterling Silver standard of 92.5% silver and 7.5% copper. This was a harder-wearing alloy, yet it was still a rather high grade of silver.
It went some way towards discouraging the practice of "clipping", though this practice was further discouraged and largely eliminated with the introduction of the milled edge we see on coins today.
By 1696 the currency had been seriously weakened by an increase in clipping during the Nine Years' War to the extent that it was decided to recall and replace all hammered silver coinage in circulation.
http://en.wikipedia.org/wiki/Coins_of_the_pound_sterling
CLIPPING CURRENCY BIG TIME
THE INTRODUCTION OF PAPER BANKNOTES
The real clipping of money began in 1694 when the Bank of England was allowed to issue its paper banknotes to circulate alongside silver coins. Over the next three hundred years, the bankers’ debt-based notes would replace gold and silver; and, as a consequence, the entire world would eventually become in debt to the bankers.
The triumph of private bankers in replacing money with banknotes was to be universal as all nations would eventually succumb to the banker’s easy credit and inevitable debt. Today, the central ingredient of money is not gold or silver but confidence, confidence in banknotes no longer backed or convertible to anything of value.
Modern economics is a highly successful confidence game run by bankers. The following is from the Bank of England’s own website emphasizing its considerable efforts to maintain the necessary confidence in its on-going con game:
The Bank of England has been issuing banknotes for over 300 years…Gaining and maintaining public confidence in the currency is a key role of the Bank of England and one which is essential to the proper functioning of the economy. [bold mine]
www.bankofengland.co.uk/banknotes/
THE BANKERS CON GAME
The long-running and lucrative confidence game, however, is about to end. Its breakdown is now underway as constantly compounding consumer, business and government debt can no longer be carried and/or paid for by existing or future productivity, especially as economies are contracting, not expanding, and collective debt levels are skyrocketing to levels which can never be repaid.
We borrowed against tomorrow and tomorrow is here
The collapse of economies such as the US, the UK, and Japan etc, will eventually render the bankers’ IOUs and government currencies worthless; and when this happens, the three hundred year stranglehold of bankers over human endeavor will be over.
BANKERS REPENT
You who hold the scales
Of justice in the land
You who hold the power
That determines if a man
Will earn his daily bread
Or fall victim to your schemes
Broken and indebted
By the triumph of your dreams
Repent, repent, repent my friends
Repent if you would please
Repent, repent, repent my friends
From your selfishness disease
Your doors can’t hold forever
The storm now at the gate
You’ve chosen what will happen
You’ve chosen your own fate
Already we can hear
The changes coming near
Already we can smell
Your anger and your fear
Just when you thought you had it all
That fate would be your friend
It turned on you did it not
Perhaps this is your end
What’s happening to your power?
What happened to your greed?
What’s happening to your minions?
Who served your every need
History has turned on you
After being so kind
The public now is on to you
After being so blind
Repent, repent, repent my friends
Repent if you would please
Repent, repent, repent my friends
From your selfishness disease
Gold makes a run
Two powerful forces, paper money and gold, are now locked in mortal combat. The combatants, however, are proxies for far more fundamental forces. Paper money is a proxy for private banking and government power—and gold is a proxy for freedom.
Moving Through The Maelstrom Monthly Commentary November 2009
The complete breakdown of the global economy was necessary for people to understand what is happening. Economic elites had banished all inquiry into monetary issues that did not conform to their special interests. Keynes and Friedman were popularized not because they were right, but because their theories suited those in power. Truth was ignored. Today, its revenge is here. Popular theories supporting paper money will soon give way to economic realities exposing their failings.
Against the formidable opposition of central banks and Western governments, the price of gold has more than quadrupled in ten years. The forward selling of unmined gold by large gold mining companies in collusion with central bank gold leasing did much to constrain gold’s advance but the power of its intractable rise should be seen in the light of that opposition.
Currently, the fall of the US dollar is currently pushing gold to new highs. Tomorrow it will be the fall of the pound, the euro or the yen that will do so. The fraud of paper money is being exposed and it is only a matter of time until the global edifice of credit and debt it supports will collapse.
In The Great Wave (Oxford University Press 1996), Professor David Hackett Fisher, an economic historian, tells of the great waves that periodically destroy existing epochs to make way for the new and better eras that follow.
Such waves, Professor Fisher found, always culminate in total economic collapse. We are nearing the end of what Fisher believes is perhaps history’s greatest wave; and yet, the economy is still standing (though currently quite wobbly). Since great waves last from 80 to 120 years and this wave began in 1896, it means an economic collapse is imminent.
It does seem to be a possibility, doesn’t it?
THANKSGIVING AND THANKFULNESS
For those invested in gold and silver, their recent rise is cause for thanksgiving. But our thanksgiving for gold and silver’s rise must be tempered with what the rise of gold and silver signifies. Gold and silver are barometers of monetary turmoil and economic distress; and the higher they rise, the more severe and closer the collapse will be.
For the few who saw the collapse coming, it will be a vindication that the truth can and will triumph, that monetary fraud no matter how ubiquitous or long-standing cannot last forever, that gold and silver are money and that paper currencies are not.
Professor Antal Fekete said the day gold and silver explode upwards will be a sad day for humanity. He is right. The explosive ascent of gold and silver will be caused by the global collapse of paper assets and paper money. Suffering and loss will be the experience of most.
Although that day will be one of tragedy, it will also make way for the new and better world that is to come. Give thanks for that. Life is a miracle and we are a part of it. It is not done with us yet. That much is obvious.
Buy gold, buy silver, have faith.
Darryl Robert Schoon
www.survivethecrisis.com
www.drschoon.com
blog www.posdev.net/pdn/index.php?option=com_myblog&blogger=drs&Itemid=81
-- Posted Tuesday, 24 November 2009 | Digg This Article | Source: GoldSeek.com
