"The bourgeoisie has through its exploitation of the world market ... drawn from under the feet of industry the national ground on which it stood. All old-established national industries have been destroyed or are daily being destroyed. The working men have no country. We cannot take from them what they have not got. Since the proletariat must first of all acquire political supremacy, must rise to be the leading class of the nation, must itself constitute the nation, it is in so far, national, though not in the bourgeois sense of the word." Karl Marx

Marxism for the 21st Century - a National Bolshevik perspective

What most people, including socialists and communists, SIMPLY DON’T KNOW...

·   Where do commercial banks get the money to lend you, your family, businesses or national governments? No, not from savings accounts or other reserves – but, quite literally, from nothing. They create the money they lend simply by keying figures into a deposit account.  It is this fictitious electronic money, created from thin air, that they then count as an ‘asset’ on their books – but also demand be paid ‘back’ by the borrower – with interest. To top it all they have total freedom to make a lot more money by selling loans they make on the financial markets.  So when an individual, a business - or a government -  takes a loan from a commercial bank, they are giving it free licence to create that money for itself – but then paying that bank the same amount of money to do so! Banks literally lend money into existence – principally for themselves. Long ago commercial banks were prohibited by law from printing their own paper notes. But technology has changed, and with it the means of production of money. The result is that banks can once again effectively ‘print’ their own money in another way – by creating it electronically and as digital money. As a result, 97% of all money in circulation does not consist of notes and coins that are printed or minted by governments but is money created  by commercial banks – as debt. That means commercial banks have an almost complete monopoly on the money supply of nations. It also means that all capitalist economies are now debt-based and debt-fuelled. For if all debt were paid back there would be no money in the economy. Yet national governments, banks and treasuries have for a long time been banned by international agreement from creating their own money in the same way that commercial banks do all the time. The issue of paper currencies such as Greenbacks as  debt- and interest-free money that began even before the American Civil War - to be used for investment in public spending and the real economy - was the real cause of the war of Independence, in which King George was backed by the bankers. And all governments that have since sought to overturn the monopoly of banks – in particular the big international banks – on the supply of money, have been sanctioned, trade-embargoed or targeted for ‘regime change’.  

2.   The BIG LIE swallowed by The Left 

Most people – including Labourites and those on the Left, still swallow the BIG LIE that governments are dependent on either taxation or borrowing from the big international banks to fund public spending, and that therefore the only area of choice governments and political parties have therefore, is  between either implementing or arguing for more or less ‘austerity’ (to bring down the national debt) or else for greater or lesser tax increases or reductions. The idea of ‘sovereign money’ - independent, national and state money-creation - does not even occur to them and is never so much as mentioned in the media or parliament. Those who advocate ‘socialism’ as the solution however, still think principally in terms of  the traditional aim of renationalising key industries, public utilities  and services. What they do not realise – and why they have lost credibility - is that this is actually quite impossible without renationalising money and money creation. Then again the traditional Marxist expectation that capitalism would collapse through a falling rate of profit, unemployment and wage stagnation is completely out-dated. For finance capitalism in its new form came up with an answer to this ages ago – by getting workers to use credit cards and ‘pay-day loans’ to borrow the money they couldn’t earn as low-paid wage-slaves and become debt-slaves as well - and by forcing governments to borrow from the banks too.

3. Why the Left – including the socialist and even communist Left – has lost credibility

Because it has failed to keep up with the times and the changing nature of capitalism it has made itself an easy target for the Thatcherist-Reaganite claim that There is No Alternative  -  offering as it does no clear counter-argument to the ‘false-flag’ issue of ‘national debt’ – which is solely a result of the international finance capitalism and not ‘over-spending on the part of national governments.  Marx long ago recognised the predatory and parasitic nature of unproductive, credit- and debt-fuelled finance capital - what he called “usury capital”. As Michael Hudson writes:  “Marx expected the Industrial Revolution’s upsweep to be strong enough to replace this system with one of productive credit, yet he certainly had no blind spot for financial parasitism. “Both usury and commerce exploit the various modes of production,” he wrote. “They do not create it, but attack it from the outside.”  “Usury centralises money wealth,” Marx elaborated. “It does not alter the mode of production, but attaches itself to it as a parasite and makes it miserable. It sucks its blood, kills its nerve, and compels reproduction to proceed under even more disheartening conditions … usurer’s capital does not confront the labourer as industrial capital,” but “impoverishes this mode of production, paralyzes the productive forces instead of developing them.” Yet neither Marx, Engels nor Lenin could possibly have anticipated how what Marx called “fictitious money” would – through the digital era and as electronic money – become the principal form both of money and a means of unprecedented wealth expropriation through debt. 

“Engels noted that Marx would have emphasized how finance remained largely predatory had he lived to see France’s Second Empire and its “world-redeeming credit-phantasies” explode in “a swindle of a magnitude never witnessed before.” But more than any other writer of his century, Marx described how periodic financial crises were caused by the tendency of debts to grow exponentially, without regard for growth in productive powers. This self-expanding growth of financial claims, Marx wrote, consists of “imaginary” and “fictitious” capital inasmuch as it cannot be realized over time. When fictitious financial gains are obliged to confront the impossibility of paying off the exponential growth in debt claims – that is, when scheduled debt service exceeds the ability to pay – breaks in the chain of payments cause crises. “The greater portion of the banking capital is, therefore, purely fictitious and consists of certificates of indebtedness … A point arrives at which bankers and investors recognize that no society’s productive powers can long support the growth of interest-bearing debt at compound rates. Seeing that the pretense must end, they call in their loans and foreclose on the property of debtors, forcing the sale of property under crisis conditions as the financial system collapses in a convulsion of bankruptcy.”

4. What even ‘hard-line’ communists or supposed ‘Marxists’  fail to see...

Global finance capitalism and other form of ‘rentier capitalism’ - in which profit takes the principal form of income received as interest, rent, bonds and other financial instruments is fast transforming itself into a new form of neo-feudalism based on debt-slavery. In this neo-feudal ‘world order’, there quite simply is no longer a national ‘ruling class’ either - just a parasitic sub-class of non-productive rentiers and bankers – themselves puppets of an international financial or ‘rentier’ elite (that far-less-than 1% who own most of the world’s wealth). In those countries where a national ruling class of productive industrial capitalists does still exist to some extent, the ruling international financial elite works constantly to overpower it – for example through the exercise of international money power (World Bank and IMF) as well as through political destabilisation or outright war. The only empire in the world today is ‘The Empire of Money’ – which has no respect for any ethnic, cultural or spiritual traditions, though it is happy to pit them against one another. Imperialist states such as the U.S. are just the military-political instruments deployed by The Empire of Money and its masters – the global financial elite represented by the Bilderberg Group. Political independence – for example in Greece, Russia or Scotland - is a necessary precondition for monetary independence (i.e. sovereign money creation) but is meaningless without this monetary independence. The Republic of Ireland was the proof of the pudding – for without monetary independence its historically hard-earned national independence proved no political defence against the power of predatory international finance capitalism. And Scotland, if it wins political independence, may bask in and even benefit from this for a while – but without monetary independence from the international banks, this national ‘independence’ will eventually prove illusory.  

5. The Gaping Black Hole in Political and Economic Thinking 

Throughout Europe and the world, people are groaning under the weight of financially imposed austerity measures and resulting,unemployment, impoverishment, joblessness and debt – unable to afford even food and medicine, or to get or do anything with their skills and education. As a result, hundreds of thousands regularly take to the streets to vent their rage in countries such Italy, Spain and Greece. Yes, they could and should cancel their debts to international banks. But then what? The gaping hole that even in these countries you will not find a single political party or movement - of either the Left or Right, far-Left or far-Right - with a policy that recognises that the only solution to national and global poverty and immiseration is the renationalisation of money and money creation. This was the solution that Lincoln first came up with – so no surprise he was assassinated!

6. Falling Prey to the old Ploy - Divide and Rule

Greeks blaming Germans, neo-Nazis blaming immigrants or Islam, UKIP and others blaming the EU – and none of them have a clue! This applies even to ‘communist’ parties across the globe, who still think industrial corporations rule the world - when in reality they are just ‘cash cows’ for  predatory finance capitalism – why else would up to 40% of the price of manufactured goods just go to paying off interest to the banks or keeping speculative financial shareholders happy? It is these same ‘communists’ who still think in terms of a parochial class war between a national ‘working class’ or ‘proletariat’ and a national ‘ruling class’ or ‘bourgeoisie’, i.e. who simply do not see that what is happening is the rise of a national underclass (working or not-working) in all countries and an international  ruling class of bankers and financiers on the other – with ever less and less classes and strata of society in between. 

7. Lessons from History

A comparable state of affairs that history offers us was the creation of a vast national underclass in Germany following the massive financial burden placed on Germany by the Versailles Treaty. Two boxers came out into the ring to slug it out – the German Communists in one corner and Hitler and his ‘National Socialists’ in the other. Both knew a thing or two. The Communists blamed the capitalist system. Fair enough. But you can’t tangibly see an economic ‘system’ in the same way you can see an orthodox Jew (or a Pakistani Muslim) on your street - or know that a family in your block of flats, religious or not, is Jewish or are immigrants. Nice ‘Right hook’ from Adolf - bringing a first point on his score card - and that of the racist, anti-immigrant or anti-Islamic far-right movements of today. The Communists also knew from Lenin that finance capitalism had a big part to play in the current capitalist came. Too true.  But then another hefty ‘Right hook’ from Adolf – focussing on the international nature of finance capitalism and identifying its machinations with a global Jewish conspiracy. The Communists of course, didn’t go along with the anti-Semitic line (recognising as they did that “anti-Semitism is the socialism of fools”) but nor did they sufficiently emphasise the national nature of the German people’s struggle and the international nature of their enemy. How could they, given that Hitler could score yet another point by identifying all Communists and Marxists with the ‘traitors’ who paved the way for Versailles – the latter having seeing this war simply as an ‘imperialist war’ when in reality it was a war waged by English finance capitalism against the threatening power of German industrial capitalism - industrial capitalism having been long on the wane in England itself. Once in power of course, Hitler himself would eventually avail himself of American banks and bankers and financiers – including those from whose family Messrs. Bush Senior and Junior hail. But before that Hitler had also used a form of national, state-issued money to rebuild the economy - with such success that whilst Britain and America were suffering ‘The Great Depression’, the German economy was booming (and that despite a complete trade embargo being imposed on Germany as punishment by the international bankers for such an act of national financial insolence). Nor did the Communists acknowledge that the Kaiser himself had granted German workers more rights and benefits than in England or any other capitalist economy. Thatcher was renowned for seeing England as a ‘nation of shopkeepers’. Well, that’s exactly how the Kaiser and many other Germans saw England before WW1 – as a country of purely self-interested and utilitarian traders, wheelers and dealers – lacking all depth of soul and richness of culture. So the war was seen as a war ‘for culture’ and against a particularly soul-less English form of capitalism - of the sort that Margaret Thatcher would later become the chief ideologist and promoter of.

8.  The Gaping Black Hole of Monetary Ignorance – and the Message that MUST be put out 

One can play around – and many do – with a whole variety of different ideological combinations of ethnic identitarianism, nationalism and traditional socialism or communism – and do so till the cows come home. But so long as those foreign looking guys over there with their long beards are seen as more of a threat than your friendly and familiar high street banks and their underpaid staff you’re being conned. For those banks are like the brush head of a vast global hoover - sucking immense wealth from your high street to the City of London and Wall Street, and ending up in the hands of a ruling elite of criminal banking financiers like Goldman Sachs, the Rockefellers and Rothschilds, J.P. Morgan etc. That is why it is above all important that socialists and communists of all varieties finally recognise what they simply don’t know – and unlike many non-socialists haven’t bothered to even research and cotton onto – namely that banking, even on the high-street level is legalised fraud. That a mortgage or car loan for example, even in terms of Common Law, is a fraudulent transaction; that, unlike money you put in a piggy bank or safe deposit box, it is not you but your bank that actually owns the money you deposit in it; that your bank creates the money it lends you from nothing - a new form of counterfeiting -  and that it makes so much money from your loans and deposits that it effectively owes you ten or a hundred times more than you either borrow from or deposit with it it. It is high time therefore for socialists and communists to wake up to the central significance for our times of just one single policy that was already stated in The Communist Manifesto - “the centralisation of credit in the hands of the state”. Unless the demand for National People’s Banks and National People’s Money – issued debt- and interest-free - and invested into the real economy and not the private banking system itself - goes right to the top of any new political manifesto, the central issue of our times will remain unaddressed – the monopoly of international and commercial banks on money creation - and their consequent stranglehold on national governments of any colour or ideological persuasion, and that however nobly ‘nationalistic’ or ‘socialistic’ their aims may be.

See also: THE NEW ECONOMICS MOVEMENT 

YUGOSLAVIA AFTER TITO – AND THE SITUATION IN THE UKRAINE

America’s strategy for economically and militarily destroying, dividing and colonising a country. 

Set up countless CIA or State Department backed front organisations or NGOs with nice names such as‘The National Endowment for Democracy’ - active in Yugoslavia after Tito and also used  to finance the protest movement in the Ukraine and eventually bring about an unconstitutional coup using neo-Nazi paramilitary groups. 

See Meet the Americans who put the Coup together in Kiev (article) and Weight of Chains - video on the destruction of Yugoslavia. 

Yugoslavia after Tito - use bribes to put chosen politicians in positions through which they can remove the last elements of any socialist or social-market economy independent of international finance capitalism, and as after the fall of the U.S.S.R create a new class of oligarchs from corrupt ex-communists.  

Sell off the nation’s public services and buy up its industries at rock-bottom prices - the plan for Ukraine.

Bring about a massive fall in wages and standards of living for the working class - as occurred in Yugoslavia after Tito.

Use corruption and poverty not to foster genuine popular protest and class struggle but mainly to fuel ethnic tensions and inflame ethnic hatred -  pitting Serbs against Croats and Albanians (or 'Ukrainians' against 'Russians'). 

Place the country in debt-slavery to international banks, destabilise its currency and bring ruin to as many sectors of its economy as possible (…soon to be imposed by the IMF in the Ukraine through abolition of all financial support to agriculture and industry, a public sector wage freeze, a 40% hike in energy prices, and 50% cut in pensions).

In the case of the Socialist Federal Republic of Yugoslavia, refuse further loans except to regions that assert ‘independence’ - with the aim of turning them into economic puppet states for the international banks. 

Fund and eventually bring to power the most ethnically or religiously extreme and racist leaders in each region (think of Milosevic and Tudjman - and  today of the neo-Nazi paramilitary groups used to overthrow a democratically elected government in the Ukraine).

Create conditions for bloody inter-ethnic wars of the sort we saw occur between the ex-Yugoslav states and regions -   and in this way destroy the infrastructure and weaken the economies of these newly ‘independent’ and ‘democratic’ states, making them even more dependent on loans.

Eventually replace discredited or criminal war leaders with puppet financial bureaucrats as new heads of state (note: the new President of Ukraine is an ex-banker who is now trying to marginalise the neo-Nazis placed in government and on the streets – who are now surplus to requirements having done their job on the streets).

Still use the press and media to make sure that issues of ethnic, religious and sexual identity still continue to dominate over economic issues – for example through propaganda and pogroms aimed at immigrants or ethnic minorities (…and who knows how many Russians are now being beaten up and persecuted in the Ukraine).   

Eliminate all vestiges and symbols of a country’s socialist past – as for example most images of Marshall Tito or even memorials to the WW2 partisans cannot be found in states that used to be part of Yugoslavia (…or statues of Lenin are now knocked down in the Ukraine).

Incorporate supposedly ‘independent’ but now bankrupted, de-socialised and privatised economies into giant banker-controlled super-states such as the E.U. (example, Slovenia - but also the main aim of those backing the pro-EU Maidan square protesters in the Ukraine)

Use disinformation to denounce, defame, destabilise, bring about civil wars or back coups in any and all countries (such as Chile, Indonesia, Iraq, Libya, Syria, Venezuala etc. whose leaders refuse to play the game – or else use direct military force to bring about regime change).

Finally, if Russia stops playing the game then launch a massive worldwide disinformation campaign against it. So get all the corporate Western media to talk of Russia ‘invading’ Crimea or even, like CNN pretend to show Russian tanks rolling into Crimea even though Russia has no land border or roads into Crimea (not to mention having had a paid-for treaty with Ukraine allowing it to maintain a naval base and permanently station more than 25,000 soldiers there!) 

Complain loudly when Crimeans vote through a fair and supervised referendum to use their independence to protect themselves from armed neo-Nazi thugs and paramilitaries from the Western Ukraine - whose main hero (Bandera) committed war crimes for Hitler and fought alongside the S.S. Nazis during WW11.

Ignore the fact the even America didn't have a democratic referendum before declaring independence and was quite happy to support Albanian independence from Serbia.

But why was Tito's Yugoslavia such an important target for destruction to begin with. Because it was a successful socialist economy with real economic as well as political democracy – worker management of all companies.

Yugoslavia under Marshal Tito - a successful example of National Bolshevism in many respects and  threat to Reagan-Thatcher-Bush-Obama style imperialism and neo-liberal economics i.e. international finance capitalism - which now seeks to destabilise the Russian economy through its trade with Ukraine as well as encircle it with  NATO countries (contravening an agreement with Gorbachov).  

 Marshal Tito

  

F

UKRAINE AND THE E.U. - A QUESTION OF DEBT NOT DEMOCRACY!!!

Now more than ever, Ukranians need to see that political 'democracy' means nothing without freedom from financial debt. What the E.U. want are to load the Ukraine with  debt under the label of 'aid' and then impose Greek-style economic 'reforms' - massive cuts and austerity measures.

Now, more than ever, Ukrainians need to understand the most important aim and principle of modern National Bolshevism - freeing all nations from debt-slavery to international banks.

Now, more than ever, Ukrainians need to see that the E.U. is just a mechanism for increasing their nation's debt to those banks.

Now, more than ever, the peoples of all nations - including the Ukraine - need to see that they could solve their so-called 'financial crisis' immediately - not by borrowing more money from banks or by cutting public spending - but by directly issuing their own debt- and interest-free money. 

Now, more than, ever, the peoples of all nations - including the Ukraine - need to see that if privately owned international banks are free to create new money from nothing - and without borrowing - then so also can nations and truly national banks - public banks.   

Now, more than ever, the peoples of all nations need to see that the solution to all their economic problems is public banking - the creation of National People's Banks.

National Bolshevism: the fight for national independence from the global ruling elites of international finance capitalism - along with its puppet empires, parliaments and politicians.        

The meaning of 'Bolshevik'

Note: in Russian 'bolshevik' means simply 'majority', i.e. the '99%' as opposed to the '1%'  - the elite of global bankers who seek to rule all nations through debt-slavery and in this way create a 'New World Order'. According to Oxfam this 1% now own half the world's wealth.

How the Big Banks rule nations – without most people even knowing it

If, as the big banks do, you are allowed to  create money from nothing – just by issuing credit on electronic accounts – and even without legal obligation to have any money  to lend,

If, as the big banks do, you therefore hold the purse strings of almost every nation  - through both owning almost their entire money supply as debt – created as credit and debt.

If you own virtually the entire media of whole nations and can limit what is reported to keep people in ignorance,

If you can distract an entire populace with mindless media entertainment – circuses without bread,

If your wealth is more than 50% of total world GDP – and tens if not thousands times more than that of individual nations,

If you have the monetary, military, media and intelligence power to promote or bring down any politician or party obstructing  your interests,

If you can finance literally thousands of seemingly ‘neutral’ academic journals, foundations or  ‘think tanks’,

If you own and control the key banks, arms, manufacturing and pharmaceutical industries of nations, 

If parties or presidential candidates have to come begging to you to finance their expensive campaigns,

If you can ensure that ‘your people’ staff most governments or act as their chief ‘advisors’,

If you control and staff the legal or regulatory agencies whose task is to regulate you,

If most nations of the world are up to their neck in ever-compounding debt to you,

If you can found and fund any pressure groups or parties that serve your purposes,

If you can pay for and mobilise whole armies of expensive lobbyists and lawyers, like those who houses fill the suburbs around Washington,

...Then quite simply – you call the shots – whether directly or indirectly, or through whatever means.

Why else do you think central banks have freely given out countless trillions of pounds, dollars and euros as welfare payments to the big banks - or lend to them at zero interest?

Why else to you think governments or can finance fight expensive wars – whist cutting public spending to the bone in the name of cutting the ‘national deficit?

Why else, despite all the talk and pledges made to appease the public, is nothing ever actually done to regulate the banks and financial markets, prevent privatised companies ripping off the state or stop massive corporate tax evasion?

Why else do you think every potential Presidential candidate in the States have to arrange a visit the Koch brothers in their extravagant Park Avenue apartment?

Why also do so-called ‘opposition’ parties go along with this too – as Shadow British Chancellor Ed Balls did (...after attending the notoriously secret Bilderberg conference of bankers and politicians)?

Why else did you think half of Obama’s funding came from Goldman Sachs - itself set up by the Rothschild banking dynasty?

What does ‘calling the shots’ mean?

You can invade or occupy any nation you wish,  and at any cost to their people – either militarily or just financially, through forcing them to accept loans.

You can blatantly ignore international law – even to the point of sanctioning or engaging in torture.

You can control not only parties or political leaders in power but also the parties and politicians in seeming opposition to them – effectively ensuring a one-party system in all ‘democratic’ nations.

You can mire countries in so much debt that they are forced to privatise their land, property, resources, public services and utilities and whole industries – enabling you to buy them up at rock-bottom prices.  

You can spy on the calls and mails of anyone – worldwide – and use the information you gather to blackmail politicians working against your interests.   

You can engage in illegal wars of occupation, deciding which regimes need to brought down, in what order and by what means (as, for example set out by the Project for a New American Century well before 9/11).

You can determine what is ‘law’ – even though it may blatantly contravene human rights and international law or - as in the US - the nation’s own constitution.

You can label anyone – even an small-time investigative journalist – a ‘domestic terrorist’ or ‘threat to national security’.

You can ‘legally’ (as in the U.S.) arrest and hold anyone in indefinite detention without legal defence or even any charge.

Your oil corporations alone can buy off or pressure entire governments – like that of Nigeria – into doing your will – for example by selling their valuable natural resources to you at prices you set and with absolutely no benefit to their people.  

You can instigate coups and bloodbaths worldwide (for example the death of a million people after the CIA-backed coup in Indonesia) and yet even despite eye-witness accounts – such as those from the erstwhile British Ambassador in Indonesia - ensure the media does not report them at all.

You are only mildly embarrassed when, for example, the BBC reports the collapse of a third tower during  9/11 – half an hour before it actually happened, only a short time after a new Rothschild owner massively increased its insurance value – and then ‘happened’ to announce that on just that day (9/11) he could not,  as he usually did, have breakfast with his family at the ‘Twin Towers;.

You can ignore or deride as a ‘conspiracy theorist’ everyone who would seek to expose your conspiracies, and threaten any opposing nation with dire sanctions if they don’t obey your will.  

You can even kill whoever you decide to – that is where the CIA and Mossad come in handy, as do drone strikes  or use of the Echelon satellite system - allowing you to cause an unfortunate ‘accident’ to occur through disrupting the computer system of any car or plane.

You can at any time engineer a ‘false flag’ situation (like 9/11) that gives the public a viable excuse for you to engage in illegal wars - such as the war on Iraq.

You can rely on the media to totally disinform – for example successfully maintaining the absurd illusion that Saddam Hussein has any liking for or links with Al Qaida – and conveniently concealing the fact that it was you who first funded and armed them.
You can make 'sincere' ethical pleas to punish Assad for supposedly using chemical weapons - whilst having turned a blind eye when you supplied Saddam with them - and he used them en masse against the Kurds and Iranians. 

The purpose of National Bolshevism - to reveal and fight the domination of all nations by the Big Banks!!!

WHO OR WHAT IS A 'NATIONAL BOLSHEVIK'?

A promoter of a new Great-Russian Empire?
A dogmatic Leninist or Stalin worshipper?
A Hitlerite 'National Socialist' or Nazi?
A ‘Nazi Bolshevik' or ‘Nazi-Bol’?
An atheist or materialist?


The answer is: NO, NO, NO, NO and once again NO.

A true National Bolshevik is anyone who believes that all nations - big or small - should be governed directly by and for those who form the 'majority' (the literal meaning of the word 'bolshevik') and not ruled by a tiny minority of state despots, puppet parliamentarians or corrupt bankers and bureaucrats - serving only the Empire of Money - of  International Finance Capitalism.

The role of Bolshevism in each and every Nation today is to work for the interests of the 'majority' or 'Bolsheviks', i.e. the 99% - and in particular to free them from serfdom to today's parasitic global banking system.

This demands the creation of new types of People's Banks - local, communal and national - providing interest-free money to meet the needs of the majority of ordinary people and not the 1% of super-rich banksters.

Private commercial banks can and do create 'create money from nothing' every second simply by entering digital money electronically on the accounts of borrowers - money which counts as THEIR money, and from which they make huge profits from interest and speculative trading.

They constitute an Empire of Money which rules the politics of all nations, for which all political empires are but an instrument and facade - and whose sole god is the god of money.


Yet if private banks can create money electronically, so could People's Banks - but with the fundamental difference that the money that People's Banks created would belong to the people and that communities and governments could spend it in the interests of the people - the majority - and not for the private profit of the few.