Debt: the First 5000 Years – a new book about an old problem

From David Graeber, the author:

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Hello, friendly strangers, I’m delighted to announce my new book….

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DEBT: THE FIRST 5000 YEARS

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is finally, finally out!

http://www.amazon.co.uk/Debt-First-5-000-Years/dp/1933633867

This is a work of scholarship, and politically engaged, but it’s also an attempt to break out of the usual academic and activist ghettoes, and I wrote it that way because I think that there’s a conversation we need to be having, not just nationally but also globally, that we began to have for a few months after the financial crash of 2008, and which has, since, been indefinitely postponed.

25 Reasons To Absolutely Despise Bankers And Their Minions

1) Bankers, according to the London Times, launder about 400 billion dollars a year or more in illegal weapons sales. The next time you hear of an African war lord killing families so he can kidnap young boys to become child soldiers and young girls to become child sex slaves, please remember that this could not have happened without the active assistance and cooperation of the bankers and the politicians they own.

2) Bankers told American businessmen that entering World War I would make the Great War last longer which would be good for the United States because it would bankrupt England, France and Germany. Calvin Coolidge on Veterans Day in 1928 said America had lost only 30,000 soldiers during the war but another 100,000 since the war ended. Those men had died of their wounds after the Armistice was signed. Everyone who died after 1915 in WW I died for bankers and Israel.

What’s so dishonest about our money system?

Let me count the ways:

1. “Credit” goes by as ‘money’ as if it was Cash.
2. Creating Cash is the monopoly and privilege of a Nation State.
3. Creating Credit is the monopoly of banks and central banks.
4. The Problems associated with ‘money’ are different, when we talk about it as

• Cash in our pockets
• Credit in our bank accounts
• the Budget of a government
•  or as the currency of a Nation where Central Banks are the global players.

1. While ‘creating money’ is the sovereignty of nation states, banks have expanded their ‘habit’ of creating Credit into ‘financial products’ such that their ‘money’ virtually represents all money in circulation (estimated to be 97%)
2. Honest Money is a challenge to banking in the day-to-day dealings of handling money as debt aka as credit
3. In the UK, the deadly embrace between The City of banksters and Westminster of civil servants and politicians ensures that HM Partnership reigns with immunity to prosecution
4. We the People are all victims, since Central Bankers have been ruling, since the Bank of England was established in 1694 – albeit with the intention of avoiding the oppression of Their Majesties’ Subjects – which is why we ask for the Enforcement of the Bank of England Act 1694.
5. The myth of Public Debts is perpetuated, without spelling out the beneficiaries.
6. Governments are supposed to either borrow or tax as their income stream, when, in reality, they should create interest-free Cash (or Green Credit) rather than allow banks to create interest-bearing Credit.
7. Taxpayers are made to believe the system with annual budgets, while long term trends show the realities of

• inflation of prices
• inflated credit supplies
• and the continuous growth of Governmental interest payments on national debts.

If only banks were made responsible or accountable, they could not expand their control, while politicians are already in their pockets.

But, they are entrusted with ‘self-regulation’, just as the legal profession which is equally derailed.

The dishonesty of money is, however, being challenged by the class action of Americans who are suing The Fed.

The book Dishonest Money is published in the US.

Related articles

• Dishonest Money questioned by Class Action Lawsuit Against the Federal Reserve (forumnews.wordpress.com)
• WANTED: Warrior Lawyers à la Fighting Foreclosure Fraud by Sharing the Knowledge (victims-unite.net)
• Banks are ‘hounding borrowers to suicide’: High Court chief breaks silence to highlight crisis of personal debt (victims-unite.net)
• The Moral Hazard of Modern Banking: How Banks Create and Destroy Money (benzinga.com)
• Inside Bitcoin – virtual currency (i-programmer.info)

Private Debt Money questioned by Class Action against the Fed

This is a remarkable US initiative by victims of foreclosures who have a group of “Warrior Layers” as their allies.

Together they mount a class action against the Fed.

Join in!

May this become a model for more class actions against more central banks!

Five Alternatives to the Federal Reserve: why the sun will still rise without the Federal Reserve system

This article is a neat summary of alternatives to ‘debt based’ money, created ‘from thin air’, and unscrupulously ‘sold’ as ‘money’, as if it were Cash, minted by Nation States, when, in fact, it comes from private bank(st)ers.

 

Issuing Money: a ‘Unique’ Form of ‘Terrorism’!?

The New York SUN has published an interesting Editorial on March 20, 2011:A ‘Unique’ Form for ‘Terrorism’, comparing Bernard von NotHaus who has been coining the Liberty Dollar (site removed due to Court Order!) with Ben Bernanke the boss of the Federal Reserve.

Von Nothaus wanted to bring our monetary system on trial. Now the verdict of the jury is “a lesson in the difficulties of illuminating the illogic of our monetary system”…

When will “it” be common knowledge and generally understood???

UK Uncut: the cuts are necessary? The cuts are fair? We are all in this together???

The UK Uncut initiative is a wonderful expression of the Signs of Our Times:

• it began with a Twitter hashtag #ukuncut
• what manifested as a sit-in of 70 people in a Vodafone store in London
• and spread across the country in no uncertain way.

Spread the word, join in actions, or at least smile!

One Good Cut instead!!!

With thanks to Inquiring Minds.

The best 3-minute video on the “creation of money” from thin air

Perfectly brilliant animated video:

• on a British site
• as “Plan B” for the British economy
• suggesting to cut bonuses and benefits to bankers..

Too much common sense!…

Why Spending Cuts are another variation of “institutionalised white collar crime”

Economist James K Galbraith gave a presentation to the Senate Judiciary Committee in which he speaks of “financial fraud” as the cause for the “crisis”.

But that’s not enough:

• Central Bankers create “currency” as “public debt” from thin air, charge interest to the Government (in the UK as much as the military budget) and call it “quantitative easing“
• Bankers create “credit” from thin air, charge interest for their sort of “money” and get bailed out by Government
• The Treasury prints notes and mints coin, as Cash, free of interest, but still believes it has to “borrow” money from the Bank of England…

Enter we, the taxpayers:

• we believe that the Government runs the economy, when, in fact, their budget represents maybe around 40% of the whole money supply
• we believe that the Bank of England supervises banks and does it for the benefit of the country, when, in fact, it works for the benefits of its shareholders, like all other central banks

And what about taxes?

Before the creation of the Bank of England in 1694, monarchs created money and demanded taxes. However, the first “national debt” consisted of £1.2 million at 8% for the King to fight a war with France.

This pattern continued such that more and more Credit was issued as “money”, while the need for Cash was more and more reduced:

• since WWII 47% Cash went down to 3% Cash

So the Government colludes in the central bankers’ game of ruling the world with currencies (and the loss of their value) and credit money (and the loss of its value), while the real economy, with its real values is exploited and oppressed.

In theory, neither taxes nor spending cuts are necessary.

In practice, it seems to depend on who influences whom with what kind of knowledge and understanding or beliefs and myths…

In our efforts to stage a Public Inquiry into White Collar Crime, we need to include the creation of “money” as the ultimate institutionalised white collar crime… But who cares???

Justice for All are campaigning against spending cuts regarding legal advice. Maybe they’ll realise where spending cuts fit into the larger picture of creating “credit” from thin air and calling it “money”…

The Federal Reserve is Laundering Money – a remarkable 7-min video

Say it in seven minutes! In VERY clear words. In no uncertain terms: when the Fed (or other central banks) print money, it is printing CREDIT. When they call it “quantitative easing“, it’s supposed to be ok…

And ENJOY this video!