Sunday, 24 March 2013

Time to review the contract of private bankers control of issuance of money supply!

 A modern money system is in the main nothing more than a computer entry accountancy system of future contracts of exchange for which 'currency' is the token of exchange transferred to complete the contract, it is a virtually costless enabler that represents real things exchanged but has no tangible value itself.

For a money system to remain honest and stable there must be enough real things to make good the contracts on the computers or those who get use of money first in a system that has moved beyond real into counterfeit credit, are sitting atop of a pyramid scam.

On top of this if a small group were to get to issue the the money supply as entirely interest bearing loans and in excess of what there is real things to ever clear the debt contract, and every time at the end of the term of the contract the debt contract was unable to be cleared and attracted even more penalty interest, those without the ability to issue money this way, but are dependent upon it as a means of exchange, are soon going to struggle to make ends meet.

This issue is not new and I ask anyone who bothered to get to here in my ramblings to please read the below excerpts from the 1956 report of the 1955 New Zealand Royal Commission into Monetary, Banking and Credit Systems and ask yourselves have the private bankers delivered upon the benefits they promised or the protections they promised or has it in-fact been the complete opposite? thus is it not time we revued their contract?

Michael Gordon Senior Economist with New Zealand Westpac Bank explains the modern money creation mechanism in below link;

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