Printing money, together with “minting coins”, is the privilege and monopoly of a sovereign Nation State, but has completely lost its original meaning.
In fact, Nation States are bankrupted so that unaccountable and uncontrolled Central Banks have complete control.
Meaning got changed once by association such as Weimar and Zimbabwe. And otherwise by “economic indoctrination” which, to my mathematical and analytical mind, is offensive in its superficiality.
For Money = Cash + Credit:
- Cash is printed and minted FREE OF INTEREST – by the state
- and Credit is created out of thin air AT INTEREST – by private banks.
I.e. the bath tub of the money supply has two taps. But economists don’t learn about the money supply and the difference between ‘cool’ interest-free state-created money and ‘hot’ interest-bearing bank-created credit.
Our petition asks the Treasury Select Committee to investigate the proportions between the two sources of money.
At a time when virtually all money in circulation consists of Credit, we have to conclude:
- politicians don’t know about the difference
- journalists don’t find out about the difference
- both echo the myths propagated by economists.
When one discovers who funds schools of economics, and that the Financial Services Authority, which is supposed to supervise the financial industry, is financed by the financial industry, it kind of becomes obvious what is happening: nobody controls the controllers.
Unfortunately, central banks only have the appearance of a public institution. The book Inside the Bank of England is quoted here and reveals some of the mystery surrounding the bank of banks.
Another source of information is available under Bank of England Nominees.
And thus we can only spread our level of understanding, hopefully to people who can make more of a difference than we on our own.
Meanwhile, quantitative easing has already been defined in Wikipedia – again only to obfuscate what is really happening – hence I’ve added my words of wisdom there, too.
Painful but true.
by RSS
Money as Debt also known as Credit 