Banking was conceived in iniquity and born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take away that power, and all the great fortunes like mine will disappear — as they ought to in order to make this a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, then let them continue to create deposits.
Sir Josiah Stamp (1880-1941), one time governor of the Bank of England, in his Commencement Address at the University of Texas in 1927. Reportedly he was the second wealthiest individual in Britain.
Bankers have become even more ‘sophisticated’ in the many decades since Sir Josiah Stamp let the cat out of the bag. Now, not only do they create ‘money’ out of thin air by signing you up to a loan – which is entered into a computer as a brand new “deposit” for you to spend – they also ‘manufacture’ all kinds of ‘synthetic’ money substitutes too.
They’re called “derivatives”. Or, as Warren Buffet called them, “Financial weapons of mass destruction”.
And bankers can create as many of them as they wish, because there is absolutely zero regulation of the derivatives markets. To give you some idea, at the peak of the first wave of the GFC in 2008, there was around 1.44 Quadrillion $USD worth of OTC (“Over The Counter”) derivatives in existence.
Why is this important?
Because the $1 Trillion funding to save the Eurozone announced yesterday is meaningless. The Eurozone cannot be saved, no matter how much money the EU tries to beg, borrow, steal… or print. Because banksters like Goldman Sachs can simply create ever greater mountains of ‘synthetic’ derivatives with which to attack debt-laden countries, one by one, starting with the weakest.
From ZeroHedge:
Jim Rickards: “Goldman Can Create Shorts Faster Than Europe Can Print Money”
Jim Rickards, who recently has gotten massive media exposure on everything from the JPM Silver manipulation scandal, to the Greek default, was back on CNBC earlier with one of the most fascinating insights we have yet heard from anyone, which demonstrates beyond a doubt why any attempt by Europe to print its way out of its current default is doomed: “Look at what Soros did to the Bank of England in 1992 – he went after them, they had a finite amount of dollars, he was selling sterling and taking the dollars, and they were buying the sterling and selling the dollars to defend the peg. All he had to do was sell more than they had and he wins. But he needed real money to do that. Today you can break a country, you don’t need money you just need synthetic euroshorts or CDS. A trillion dollar bailout: Goldman can create 10 trillion of euroshorts. So it just dominates whatever governments can do. So basically Goldman can create shorts faster than Europe can create money.“
The world is not ruled by politicians. It is ruled by banksters. Most of us simply don’t quite understand that, because we don’t understand how they do it.
It is very simple. Well before most of us were born, bankers were given the exclusive power to create ‘deposits’. Which you and I know as ‘debt’. And which is now called ‘credit’ … because it appeals to our Pride, and sounds so much nicer, to delude ourselves that we have been given ‘credit’.
When in reality, what we have been given is a Debt. By accepting the offer of ‘credit’ (Debt), we sell ourselves as slaves to the bankers.
They know it. They’ve always known it.
Now you do too.
Barnaby Is Right 
Comments