{"id":21036,"date":"2016-06-07T19:39:36","date_gmt":"2016-06-08T00:39:36","guid":{"rendered":"http:\/\/olduvai.ca\/?p=21036"},"modified":"2016-06-07T19:39:37","modified_gmt":"2016-06-08T00:39:37","slug":"chapter-7-secrets-ignorance-and-lies-money-credit-and-debt","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=21036","title":{"rendered":"Chapter 7: Secrets, Ignorance and Lies: Money, Credit and Debt"},"content":{"rendered":"
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CHAPTER 7: SECRETS, IGNORANCE AND LIES: MONEY, CREDIT AND DEBT.<\/a><\/h3>\n<\/div>\n<\/header>\n
\u201cThe tyranny of fraud is not less oppressive than that of force.\u201d\u00a0<\/em>John Taylor of Caroline, Virginia, 1814.<\/div>\n
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Our system of money-creation was invented and developed during a time when war was seen as glorious, when the strong robbing and managing the weak was admired as good and right, and when class oppression was thought desirable in the interests of making a strong nation. Banks create money in a way that supports those activities. Today, the world is a different place and our objectives are \u2013 officially, at least \u2013 more-or-less opposite to the ones listed above. But we are still lumbered with our antiquated system of creating money as debt: all money, even notes and coin, is debt from banks of one kind or another.[1]<\/a><\/p>\n

The title of this chapter is an accusation. A massive industry of debt-creation (\u2018financial services\u2019) is today devoted to creating money and value for the rich and debt for the less-well-off. It has become an enormous cancer on humanity, draining life and livelihood from productive workers, the would-be working and the poor. As for the poor, they are now an increasing portion of the world\u2019s population, despite advances in science, technology, entrepreneurship, productivity, mechanisation and organisation. Our money system concentrates power, and is a machine for transferring property from the people to financial predators.[2]<\/a>\u00a0The process has taken us so far towards self-annihilation, why not state the obvious: if you believe that riches should be gained in return for contributing something to the common good, we live not under \u2018democracy\u2019 but kleptocracy \u2013 rule by thieves.<\/p>\n

Gaining control of the money supply has always been an ultimate dream of the ambitious. \u2018The Richest Man Who Ever Lived\u2019 \u2013 Jacob Fugger, a German born in 1459 \u2013 kick-started his career by getting control of the Emperor\u2019s silver mines.[3]<\/a><\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

CHAPTER 7: SECRETS, IGNORANCE AND LIES: MONEY, CREDIT AND DEBT. \u201cThe tyranny of fraud is not less oppressive than that of force.\u201d\u00a0John Taylor of Caroline, Virginia, 1814. Our system of money-creation was invented and developed during a time when war was seen as glorious, when the strong robbing and managing the weak was admired as […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[63,7380,175,195,3731],"class_list":["post-21036","post","type-post","status-publish","format-standard","hentry","category-economics","tag-banks","tag-cobden-centre","tag-credit","tag-debt","tag-money-creation"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21036"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21036\/revisions"}],"predecessor-version":[{"id":21037,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21036\/revisions\/21037"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}