“I am afraid that the ordinary citizen will not like to be told that banks can and do create money…And they who control the credit of the nation direct the policy of Governments and hold in the hollow of their hands the destiny of the people”
(Reginald McKenna, former Chairman, Midlands Bank of England)
What is the real cause of the current global banking crisis?
If you obtain your news through mainstream media sources it is quite likely that you have the impression that the current global banking crisis has been caused by over-generous lending to some people who have subsequently defaulted on their mortgage payments.
If this is the case then you are seriously misinformed, because the real story behind the crisis is a scandal that is deeply rooted in the banking system itself and has far-reaching international implications.
The problem stems from the fact that the banking system was created on a model that requires ever-increasing debt to sustain itself with the result that the ‘fat cats’ at the top of the system are becoming richer whilst the rest of us become ever poorer.
This, however, is no accident. The banking system is precisely designed to enslave ‘the people of the world’ to those at the very pinnacle of the banking system; the global banking elite.
If this sounds far-fetched and too much like a ‘conspiracy theory’, then you really need to watch the video called ‘The Secret of Oz’, a link to which is provided below. This extremely informative documentary film explains the background to the creation of the banking system and the origin of the problems currently being experienced around the globe.
If you are not aware of how the banking system really works, then you will undoubtedly be shocked by it.
The first shock will be to discover that the banks create ‘money’ out of nothing! Literally!
Banks do not lend ‘money’; they make loans but do not need the physical cash in their vaults in order to make these loans. They create the loans by creating accounting entries. The bank then has the audacity to charge interest on the ‘accounting entry’, which they call a loan, creating a greater indebtedness for the customer and greater profits for the global banking elite.
The second shocking aspect is that most governments do not create the money they need to spend on national services such as education, welfare, transport etc. Most governments in most countries have to ‘borrow’ from the banks, at interest, before they can spend it in their budgets. But, again, these are also ‘loans made from accounting entries’. That’s right, governments do not borrow ‘real money’ and they too are charged interest for the privilege of being indebted to the banks!
It is the interest costs of servicing the ever increasing loans that is behind the mounting national debts of practically every country in the world.
It is an appalling situation because the interest payments absorb an ever-increasing proportion of government budgetary requirements, which means that less funding is available for vital services and infrastructure in most countries in the world. Most of the money that our governments need to properly run our countries is going to the global banking elite.
Because we are increasingly indebted to the global banking elite, most of us in most countries around the world are increasingly impoverished and suffer worsening standards of living.
But the most appalling part of the whole story is that this is a deliberate manipulation by the global banking elite. By ensuring that the banking system is the only source of ‘money’ and that we can only access that ‘money’ through loans, they have ensured our continuing indebtedness and servitude to them.
However, this situation cannot persist. The system of loaning money into existence contains the seeds of its own destruction because it is unsustainable and is already showing its weakness by the growing number of defaulters.
The Secret of Oz video provides a more detailed explanation of this corrupt system and encouragingly offers solutions to the problem.
There are workable solutions to creating a more responsible ‘money system’ that do not require ever-increasing indebtedness to the global banking elite; an indebtedness that drains the valuable resources of the world.
The best solution, in which governments create their own debt-free money, will provide greater freedom and greater prosperity for all and even the possibility of reduced taxation!
If any of this story is news to you and you want to know just how this dreadful system came into being and what can be done to change it, please watch ‘The Secret of Oz’ from the link HERE