Money only ceases to be an abstraction when human energy is applied to produce a physical manifestation like gold and silver that has value as a result of the application of conscious energy manifested in physical work. Money thus produced constitutes wealth; something physical; just as other material objects resulting from the application of human mental and physical energy constitute wealth.
In other words, physical wealth in our world is a material manifestation of mental effort (consciousness) that effects changes in the physical world to produce tangible objects. In our relatively low vibrating physical world we have to harness and focus mental energy to produce physical work which manifests as material objects which we label as wealth.
This planet’s global financial and banking systems do not produce wealth, they are primarily elaborate mechanisms for extracting wealth from those who produce it and transferring it to those who don’t. This is typified by the discussion in Gaimbruno’s article about the machinations of France in Africa: ‘France, Niger and Why Five Basis Points Continue to Change the World’ - https://tomluongo.me/2023/08/07/france-niger-five-basis-points-continue-change-world/
Our current financial and banking systems are totally dysfunctional and corrupt and for that reason they must be and are, being eliminated. The meretricious jargon surrounding money is being swept into the dustbin of history along with its dystopian manifestations.
Similarly, governments don’t produce anything, people do. Governments are artificial constructs, corporate control mechanisms created, produced and operated by people. Those who control governments pretend that governments and corporations produce stuff. They don’t, people do.
Governments use force and violence to ensure that they control the money creation and distribution process. It is a government monopoly BUT most governments don’t exercise that monopoly rather they licence some privileged private corporations to PRETEND to do it. In such cases it is a gigantic SCAM performed by private banks BUT facilitated and enforced by governments. See e.g: ‘The Secret Power of Banks - Richard Werner -
Banks PRETEND to create and issue money out of thin air under the “fractional reserve system”, a misleading term that conceals the fact that banks don’t create or issue MONEY, they just place digital bookkeeping amounts in clients’ accounts and say it is MONEY. They then call that digital figure a LOAN, label their client a “borrower”, and demand that the client pay them the imaginary sum of money appearing in his/her account, PLUS interest.
Such banking systems are a giant EXTORTION RACKET controlled by private corporate banks that manipulate governments into granting them free licences to pretend to create and distribute their nations’ money supply. The banks also get governments to use force and violence (Police, courts and prisons) to enforce the banks’ monopoly regarding their fraudulent issuance of the nation’s money supply.
The money creation and distribution “MARKET” is thus a MONOPOLY controlled by a select group of private FOR PROFIT corporations that have been given FREE licences to pretend to create and lend bogus (non existent) money. Governments prosecute, fine and imprison anyone (other than the corporations granted a free banking licence by government), who seeks to obviate the current fraudulent and criminal banking system by bartering commercially or issuing genuine asset backed money to facilitate the exchange of goods and services.
Governments also enforce this criminal banking monopoly by authorising their Police and Judicial authorities to arrest, prosecute, fine, confiscate property and even imprison any bank client who fails or refuses to pay to a bank fraudulently claimed loan monies (i.e. bank digital debt tokens) or interest thereon.
Accordingly, there is no free market in money creation or banking in nations that do this. In fact there is almost NO money creation by most Western governments and absolutely NO money creation by Western banks at all. Government Treasury’s create and issue an almost infinitesimal quantity of real money in the form of coins and a tiny quantity of debt token “currency” in the form of paper notes. The overwhelming bulk of so-called money in circulation is in the form of intangible electronic digital PRETEND money.
Giambruno rightly says: “Banks are simply supposed to be money warehouses”. But they aren’t.
Banks accept money from clients (the fruits of the client’s real labour) which the banks mislabel as “deposits”, but fail to explicitly tell clients that those “deposits” cease to be the client’s property and become unsecured loans to the bank which the bank can invest as it pleases. Moreover, if the bank’s investments “go south” the banks can, and do, BAIL-IN those unsecured loan monies; i.e. banks convert them to shares in the bank. Those shares then rank below all secured liabilities of the bank in bankruptcy proceedings. In other words, those who think they are putting their money into banks for safekeeping are being misled. Banks do not “warehouse” deposits, nor do they lend them to borrowers; they invest them, using “deposits” as bank assets. That's why many people have trouble trying to withdraw their money from banks.
Giambruno also says:
“Money is simply supposed to be something useful for storing and exchanging value”.
The so-called money fraudulently created by the banking system today isn’t a store of value; it's NOTHING, being merely electronic bookkeeping digits in accounts. Those digits are fraudulently claimed to be debt tokens AND “stores of value”. They are neither. They are figments of the banksters’ imagination having no tangible existence. They are not “stores of value”. At best, they represent whatever someone will pay for them. In the coming global financial and banking collapse those chimerical bank debt tokens will be worth only what anyone is prepared to pay or exchange for them.
In other words be aware that currency (which is what the banks’ debt tokens are said to be) are NOT A STORE OF VALUE. They are book-keeping entries that have no substance and no intrinsic worth.
In sum, the existing global financial and banking systems are gigantic criminal enterprises controlled and used by Ashkenazi (Khazarian Mafia) banksters to enslave and impoverish whole nations. Governments are totally complicit in this process and hence the politicians and bureaucrats facilitating the process are committing treason against their nations.
Our current financial and banking systems are predicated upon the fact that governments have been suborned and corrupted to REFUSE to perform their duty to create and issue the nation’s money supply. A modern society cannot function without a money supply. At humanity’s current limited level of spiritual development societies cannot function without a tangible means for facilitating the exchange of goods and services. That function requires a generally accepted methodology for doing that. Governments have been suborned and corrupted to refuse to create and issue the nation’s money supply AND instead, to fraudulently authorise and ‘hold out’ as genuine, private corporations that pretend to issue money.
Giambruno reckons governments should be excluded from money creation and banking and that those markets should be totally free. He recommends Bitcoin as a solution.
I disagree. Arguably, money creation is a core community responsibility and hence it is a function that must be controlled by duly elected governments that the community can, AND MUST, hold responsible for what they do. Accordingly the money creation and distribution function must be executed honestly and efficiently in the interests of the whole community. The reason that global financial, economic and governance systems are sooo corrupt today is that they are covertly controlled by private plutocratic interests masquerading as supporters of “democracies” and “free markets”.
The current criminalised global pseudo money creation and banking systems demonstrate that “free markets” lead to corrupt covert monopolies. Today private monopolists control money creation and banking; AND the governments that supposedly licence them to operate. The result has been a global dystopia that has enslaved and almost destroyed humanity and this planet.
The current global financial and banking systems are collapsing now. They will be replaced by unhackable, Quantum computer controlled systems that ensure that each individual directly controls his/her bank account(s) and that every nation creates and issues its own, asset backed INTEREST FREE money and currency, backed by the full faith and credit of the nation. Those systems will be secured and delivered using Star Link satellites protected by a global Space Force. The money issued by each nation in future will be on PAR, one to one in value, with monies issued by every other nation. That will eliminate all current international trading rorts and coercion by dominant nations.
Importantly, having each nation issue its own money to pay for all necessary infrastructure and government services will mean that governments will no longer be able to pretend to need to levy unlawful income and other taxes AND THEY WON’T. That will create almost instant abundance for general populations.
Commercial banking as we know it and counterproductive jobs and activities in finance and investment industries etc will cease. Concomitantly AI and robots will relieve humanity of the drudgery of producing much of our daily needs. The challenge for those losing employment and everyone else who will cease being full time wage slaves will be finding positive ways to be actively involved in local governance and to otherwise contribute to society and their own personal development once monetary enslavement and wage slavery are gone. Those worrying about no longer being wage slaves for corrupt useless government bureaucracies and banking, finance, taxation and other industries etc need to get their heads out of the derrieres and focus upon ensuring that their local and national governance arrangements cease to be corrupt.
Giambruno also talks about the “centralization of credit in the hands of the state”. That’s a contradiction in terms since “credit” refers to human production which of necessity vest in those who produce it. That's why, since time immemorial, governments have paid people to produce goods, services and infrastructure. That is why nations will, in future, create and issue asset backed money, INTEREST FREE.
Incidentally, ALL bank “borrowers” are in fact CREDITORS, not debtors, since the fruits of their labours produce the wealth constituting their bank payments. That means that the banks should repay to them the sum total of their payments of principal and interest to the bank(s) less a small administrative fee; AND return to them title to mortgaged property with quiet enjoyment thereof.
Giambruno also says: “Today banks exist at the pleasure and service of the state—and obtain special privileges as a result”.
THAT is gaslighting because the controllers of the major corporate banks also own and control governments like the US Inc, UK Inc and Commonwealth of Australia which are privately owned corporations just like the corporate banks they purport to license to create money out of thin air. That’s why governments invariably use taxpayer funds to BAIL-OUT major banks when they are bankrupt and should be liquidated. Big Banks are “Too Big to Fail” because they OWN the governments that 'choose' to bail them out.
Giambruno rightly says a “lender of last resort” (e.g. the Fed and all Rothschilds controlled Central Banks) means legalized counterfeiting of the currency to backstop a legalized Ponzi Scheme”.
WHAT he doesn’t say is that ALL ’fractional reserve banking’ is part of a “legalised” but unlawful PONZI Scheme since all such banks purport to produce money out of thin air but don’t produce anything of substance.
Giambruno says: “De-banking is another example of how formerly free societies are rapidly descending into high-tech totalitarianism”.
This amounts to a limited hangout since the existence of our current fractional reserve banking system evidences the already long-term existence of high-tech totalitarianism. Western societies have not been “free” for centuries; having been held hostage by Ashkenazi Khazarian Mafia (KM) bankster controllers since, at least, the creation of 'fractional reserve banking' by the the Bank of England in 1694.
Ask yourself: “What possibility has any USan or Anglo-European individual had to live a free and independent existence since, at least, the widespread establishment of the Strawman mechanism during the Great Depression in 1933”?
As for de-banking, if you think that the banks don’t control our governments, ask yourself: ‘Why are banks able to virtually outlaw millions of people by refusing them banking services that are essential to live within society’? Ten banks are said to have refused to provide banking services to Nigel Farage. In previous eras only governments of nations and communities had the power to determine that an individual was an “outlaw” to be cast out from society. IF banks can de-bank people then they, not governments, control society.
Giambruno says cash is not the solution to de-banking and that Bitcoin is.
I disagree. Asset backed interest free cash created and issued by governments is a necessary partial solution to the criminal usurpation of power by banks provided that its issuance is honest and properly audited. In this context it is necessary to note that issuance of asset backed electronic currency by each national Treasury or nationally owned and controlled bank is fine but that must be distinguished from the WEF’s proposed CBDC proposal that would be a globally centralised privately owned system rather than a nationally owned system actively audited and controlled by duly appointed agents of the entire nation.
A bitcoin solution won’t work because it has no asset backing and is speculative. In any event, the Quantum Financial System (however described) that will be introduced once the current monetary and banking systems collapse, will have provision for issuance of asset backed, national electronic currencies that will be properly issued and controlled by each nation.
Ron
Addendum:
We are constantly reminded that the US national ‘debt’ is approaching $US30 Trillion dollars or whatever, but no one asks WHY is it that we individuals are forced by the US and other governments to PAY to the banks the imaginary, book entry sums of pretend (counterfeit?) money the banks type into our accounts but the US government doesn’t have to pay the banks the sums of imaginary money they place in government accounts. That’s another indication that the US government colludes with The Fed to enable banks to EXTORT general populations into the ‘poor house’.
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Thanks John,
As I see it the sheer evil and criminality involved in the banks' fiat fractional (fictional?) reserve system AND the fact that governments collude in, facilitate and enforce the bank's fraudulent theft of the bulk of national wealth is destroying whole nations and sacrificing the planet and her children .That has to be stopped very soon or this planet and her inhabitants will cease to exist.
Those who refuse to see what's happening are effectively condoning their own demise.
The government of this universe isn't going to let the KM banksters and their demonic controllers destroy Gaia or those who defend her and her children. Christ Jesus said, in effect: 'It would be better for those who abuse little children that they have a millstone tied around their neck and be thrown into the sea'. And so it is. Those who refuse to serve others more than self will be leaving this planet in the near future.
Very much in agreement.
Though it is obvious that these forces cannot be dislodged directly, so it will take both the total breakdown of the current system, that they are bringing on, along with realizing nature functions more dualistically than monolithically. More yin and yang, than god Almighty.
That there are both bottom up growth dynamics driving society, as well as top down ordering structures directing it. Motor and steering.
Consequently Western culture is obsessed with power, how to get it and how to hang onto it, whether capitalist banks, or communist states. We are divided when we don't understand the synthesis and either go for the thesis, or the antithesis. That massive cultural break down is the Western messianic, megalomaniacal wave crashing.