Money From Nothin'

Right back at the beginning of this bloglet I said that money is magicked out of thin air.

Many said I was delusional, or they humoured me. Some bloggers called me an outright liar.

Today I can reveal that my words were true.

Hover over the title, click and open the Bank of England quarterly report. To save you the trouble of reading the entire thing, (which is as dry as dust), scroll down to page 103. Here you can read the BoE themselves admit to this stunning conjuror's trick. They have been at it for quite a while. Were you taught this nifty trick at school? Are your kids being informed about the banks pretending to loan money when it is the lender themselves that cause the money to exist? Thought not.

YOU create money. No-one else. The bank does NOT lend you money from a big pile of notes in the vault. It goes onto their balance sheet the very instant that you sign the loan/mortgage form.

In law, this is fraud. A contract has to be fair. Both sides must offer equal consideration. Or, they used to. Take out a loan today and YOU create the money, then lash yourself to the "debt" until YOU have repaid back the capital and whatever interest Mr Smiley Banker added to the "loan".

Imagine: you have borrowed created a new loan worth £250,000. That money simply did not exist anywhere on planet earth until you autographed the paperwork. You make a couple of payments, then you decide to contest the "loan". You end up in court and you demand to see the banks accounts and you demand to see how they have suffered a loss because YOU stopped making the repayments. The bank cannot show a loss because they loaned you absolutely nothing of value, nothing from their vaults, and certainly nothing from their depositors funds. Your autograph whistled the money into existence. They did nothing, they risked nothing, they stand to lose.....erm.....nothing. (Well, for arguments sake, they DID organise the paperwork. One months repayment ought to more than cover that).

In plain English: your autograph morphs into a promise to pay. That promise is good enough for them to transfer the money to your account.

For the first time, we can now support these statements. Freefolk are far from stupid. The evidence is right there in front of our unseeing eyes. I need to thank BBD over at the Freeman On The Land forum for this great find.

You want to see the confession, don't you?

Your 'umble captain is happy to oblige:

"...banks extend credit by simply increasing the borrowing customer’s current account, which can be paid away to wherever the borrower wants by the bank ‘writing a cheque on itself’. That is, banks extend credit by creating money."

I have deliberately over-simplified what needs to be done. I do not advise you to do anything until you are absolutely certain of the actions you may take.

CR.