What’s so dishonest about our money system?

Let me count the ways:

  1. National Governments:
    • borrow according to “Public Borrowing Spending Requirements” (PSBR) and pay interest.
    • Instead, they could issue interest-free Cash into the economy.
    • While ‘creating money’ is the sovereignty of nation states, banks have expanded their ‘habit’ of creating Credit and turning it into ‘financial products’ such that their ‘money’ virtually represents all money in circulation (estimated to be 97%, whereas, in the UK, it used to be 53% at the end of WWII).
    • 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 ad infinitum.
    • For governments to borrow AND to tax is an affront and insult to taxpayers. They should simply create interest-free Cash to spend it into the economy.
    • Taxpayers are made to believe a system of 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.
  2. Central Banks:
    • pose as national banks, when, in reality, they are privately owned, albeit well disguised. See Bank of England Nominees.
    • manipulate gold and currencies internationally – always for the benefit of the ‘financial economy’ and the detriment of the ‘real economy’.
  3. Banks:
    • create Credit from thin air
    • dare to ‘sell’ it for ‘interest’
    • invent ‘financial products’, when they could provide an honest service.
  4. The Camouflage of What Bankers are doing through Teaching Economics:
    • Credit created by banks (and other financial institutions) from thin air, is turned into Cash, as if there was no difference.
    • Creating Cash is the monopoly and privilege of a Nation State.
    • Creating Credit is the monopoly of banks, central banks and other financial institutions.
    • Nobody creates the interest charged for Credit.
    • Ignoring exponential growth of compounding interest on interest and instead, promote the unsustainable notion of ‘economic growth’.
  5. General:
    • The problems associated with ‘money’ depend on whether 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.
    • Honest Money is a challenge to banking in the day-to-day dealings of handling money as debt aka as credit
    • 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.
    • The myth of Public Debts and their necessity is perpetuated, without spelling out the beneficiaries, teaching the damages or generally being open and transparent.
    • 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.
  6. As a result, ‘money’ is ‘toxic’.
  • Healthy ‘mutual credit‘ would enable the flow of goods and skills through society.
  • Healthy money would be like healthy blood in a body and clean water in nature: enabling and enriching.
  • Instead, the issuing of ‘credit’ without issuing the interest required, ‘toxic money’ is oppressive, restrictive and controlling.

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, published in the US, explains the same principles.

82 thoughts on “What’s so dishonest about our money system?

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    • From this article, I am supposed to believe that “greenbacks” issued by governments are not “debt” or “credit”? When the U.S. Supreme Court (erroneously) upheld the constitutionality of the Civil War “Greenbacks”, it did so on the basis that they were a form of “borrowing”, or the issuance of public “credit”. They certainly were “debt” instruments, as they could (and were intended to) be set off against debts citizens owed the government. But just as certainly they were not “sound money”.​

  3. It is completely scary. Cash is but a promissory note for exchange for something that may or may not be there. Better get bartering goods and services before the whole thing blows up in our faces! Thanks for explaining so clearly and so well.

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