Presentation on theme: "IMAGINE In 1690 the English garrison in Massachusetts attacked the French fortress of Quebec. Their purpose was plunder... GOLD... the gold coins that."— Presentation transcript:
IMAGINE In 1690 the English garrison in Massachusetts attacked the French fortress of Quebec. Their purpose was plunder... GOLD... the gold coins that were needed for the back-pay of English soldiers. The attack failed and the soldiers returned disgruntled, a source of potential trouble. Some way of paying them had to be found. And it was: pieces of paper signed by the garrison commander, promising to exchange the pieces of paper for gold coins when the next supply ship from England arrived. These pieces of paper then came to be accepted by everyone in the local community in payment for the goods and services they exchanged with each other... with everyone knowing that the pieces of paper were as good as gold when the next supply ship arrived. In the English colony of Massachusetts, by dint of circumstance, paper money was born. Had the attack succeeded the soldiers might still have returned disgruntled, for the French also had problems expanding the supply of money to keep pace with the growing needs of local trade. In Quebec they turned not to pieces of paper but to playing cards. These had the advantage of being more durable and bearing numbers, and different denominations to which different values could be attributed... Hearts and Diamonds had half the value of Clubs and Spades. About this time, on the West coast of Africa, money came literally out of the sea. It was a sea shell, the bright speckled shell of a sea mollusc, the cowry. And such was its value that one cowry was sufficient for the purchase of two slaves. In Europe paper money already existed, issued by goldsmiths as receipts for the gold coins deposited by customers for safe keeping. These paper receipts were also ‘as good as gold’ and goldsmiths found they could lend them to ten times the value of the gold they held for safe keeping. So they formed banks, to lend paper money on an industrial scale. But going bust became a habit, so publicly owned central banks arrived to control them, except in America where the Federal Reserve is so named in order to deceive. Federal Reserve Notes are issued free to private banks and then borrowed by America in loans so large at an interest so high they can never be repaid, and are bankrupting America. In Europe it’s different: the central bank is publically owned, but unwittingly serves the needs of Germany above all... to the detriment of Greece, Spain, Portugal.... and others. So the European system will eventually fail. The Bank of England is also publicly owned but acts as lender of LAST resort, a thoroughly useless function. If it acted as lender of FIRST resort sterling could finance a world teeming with human capital waiting only to be unlocked by pieces of paper with ink on, which costs nothing to make and is limitless. It’s not that money is too plentiful. Money is not enough and it costs too much. So unemployment is too high, supplies are too small, and the growing demand from growing populations is what causes inflation. When money is enough unemployment will cease, supplies will increase and inflation will be no more. (CLICK) Europe’s central bank is tied up for the benefit of Germany. America’s central bank is tied up for the benefit of the Rockefeller and Morgan families. That leaves only the Bank of England who’s faded clout must be restored for the benefit of all mankind. IMAGINE a billion homes being built on planet Earth with pieces of paper with ink on, from the Bank of England. And the title deeds as a gift to every family whose homes will be built NOT by pieces of paper from the Bank of England but by the human capital that works for pieces of paper from any bank, even the Bank of England. IMAGINE the pieces of paper arriving from England, as if by helicopter, to unleash the energies of idle hands... with no interest payable but a tax to local governments for educating every child, and a penal tax on families with more than two. IMAGINE some of those pieces of paper with ink on returning one day, to England. But for what? For what, if not for the goods we make, for the wages we receive... and for the taxes we pay to eliminate our budget deficits? IMAGINE Africa keeping the ownership of its natural resources by rejecting overtures from China... which arrives with the Western money it has ‘stolen’ through an unbalanced trade that destroys our jobs and social cohesion everywhere. IMAGINE full employment in every land and no armies of unemployed labour to hold down wages and keep the people poor, so that human migrations are unnecessary, mono-cultures are preserved, and the melding of multi-cultures can cease. IMAGINE all this, for pieces of paper with ink on. IMAGINE an irresistible force that sleeps, but soon will wake from its slumber... PEOPLEPOWER (CLICK)
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