Oct 1, 2019
How to defeat a cashless world
Mario Draghi, talks about a new possible bank crisis in eurozone able to stop ATM and cash withdrawal, at least 5 days long. I suggest to get prepared for cash shortage and blocked bank accounts as prelude to a cashless world.
During last years we assisted to an unprecedented quantity of declarations released by former central bank governors and economists about the script money created by commercial banks, always confused by the citizens as legal tender. After about a century the truth is coming out, but we are living in strange days and people must get prepared.
First in rank was Sir Mervyn King, governor of the Bank of England from 2003–2013, explained this point to a conference of business-people:
“When banks extend loans to their customers, they create money by crediting their customers’ accounts.”
In 2015, Prof. Richard A. Werner, the inventor of term “Quantitative Easing” and the “Quantity Theory of Credit”, published a great paper pointing out the conclusive scientific evidence about the bank system theories. [2]
The evidence is that commercial banks create money (and capital) out of nothing.
Miguel Ángel Fernández Ordóñezm former governor of Bank of Spain, in a 2017 speech said:
“In the latest years, some analysts have emerged who are evaluating the possibility to change current money creation system by private banks and to substitute it with another one which would let every citizen deposit their money at central banks.” [2]
While Central Banks are studying a way to get back the money creation mechanism, on the other side commercial bankers [4] are searching a way to increase the script (electronic) money they create out of nothing.
In 2016 there was a first bizarre experiment on a sample of about 1,2 billion persons in India. That experiment consisted in removing most of cash with a stratagem leaving people without money and converting all available cash in commercial bank accounts.
It was named 2016 Indian banknote demonetization and was, of course, a disaster for citizens.
Why so many high profile members of the establishment started to reveal the truth ?
We are assisting to a “secret war” fighted by commercial bankers and central bankers [1] about the world control. In few months we assisted to the “War on Cash”, the Know-Your-Customer and the Anti Money Laundering procedure introduction and the Indian disaster once the government decided to reduce the cash forcing the population to swap on bank electronic money.
All of those tasks have been sold to the population as brilliant efforts in order to fight criminality, but it is evident the the real goal is the total world control via the money control.
References:
[1] Mervyn King speech to-the-south-wales-chamber-of-commerce.
[2] Richard A. Werner A lost century in economics — Three theories of banking and the conclusive evidence — Centre for Banking, Finance and Sustainable Development, Southampton Business School, University of Southampton, United Kingdom- International Review of Financial Analysis (2015).
[3] Miguel Ángel Fernández Ordóñezm 7th Nov 2017 speech at the Spanish Lower House.
[4] Bankster — Blend of banker + gangster. Judge Ferdinand Pecora has been credited with coining the term Bankster. In June 1933, his image appeared on the cover of Time magazine, seated at a US Senate table, a cigar in his mouth. Pecora’s hearings were said to have coined a new phrase, “banksters” for the finance “gangsters.” However, the word, with the same meaning, had appeared in the U.S. press at least a year and a half previous to that.
[-] Wall Street Under Oath: The Story of Our Modern Money Changers Library of money and banking history, 1973
My Previous articles:
BANKS are stealing our future — How to put an end ?
War On Cash: a trick to increment the commercial bank electronic money, created by air
