Tag Archives: endogenous money

Wealth, Virtual Wealth, And Debt

22 Feb

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Yes, I do bang on a lot about bank(ster)ing, usury, and debt slavery. But I am far from the first.

Mankind has known of these great evils for millennia.

Literally, for thousands of years.

Great wise men have preached against the parasitic slave trade of the money-lenders throughout the ages.

Plato, Aristotle, Cato, Cicero, Seneca, Moses, Philo, Buddha, Jesus – all denounced the evil of money-lending at interest. The only Biblically-recorded instance of Jesus Christ resorting to violence, was when he chased the money-lenders out of the Temple with a whip.

And yet, in our so-called “Information Age”, when billions have access to heretofore unimaginable storehouses of historical records, books, and information, it almost seems as though humanity is further away than ever from having a solid understanding of HOW the dark worlds of “money” and “banking” really work.

Here are some quotes (bold added) from the writings of Frederick Soddy in the early 20th century (h/t Monetary Realism via Pragmatic Capitalism):

“THE PRIVATE ISSUE OF MONEY; A CHANCE RESULT OF THE BANK CHEQUE SYSTEM

No doubt there are still many people, if not the majority, who will be frankly incredulous that money vastly exceeding in amount the total national money can be, and is created and destroyed by the moneylender with a stroke of the pen. How frequently does one still read in the Press that the banks can only loan their customers spare money! Most people still think of what money once was, “a public instrument owned and controlled by the State.””

“Wealth, Virtual Wealth, And Debt”, p. 147, published 1926

“This book will show what money now is, what it does, and what it should do. From this it will emerge the recognition of what has always been the true rôle of money. The standpoint from which most books on modern money are written has been reversed. In this book it is not treated from the point of view of bankers—as those who create by far the greater proportion of money—but from that of the PUBLIC, who at present have to give up valuable goods and services to the bankers in return for the money that they have so cleverly created and create. This, surely, is what the public really wants to know about money.

It was recognised in Athens and Sparta ten centuries ago before the birth of Christ that one of the most vital prerogatives of the State was the sole right to issue money. How curious that the unique quality of this prerogative is only now being rediscovered. The “money power” which has been able to overshadow ostensibly responsible government, is not the power of the merely ultra-rich, but is nothing more nor less than a new technique designed to create and destroy money by adding and withdrawing figures in bank ledgers, without the slightest concern for the interests of the community or the real rôle that money ought to perform therein.”

Page x: “To allow it to become a source of revenues to private issuers is to create, first, a secret and illicit arm of the government and, last, a rival power strong enough ultimately to overthrow all other forms of government.”

– “The Role of Money”, p. ix-x, published 1934

“The Banker as Ruler.

—From that invention dates the modern era of the banker as ruler. The whole world after that was his for the taking. By the work of pure scientist the laws of conservation of matter and energy were established, and the new ways of life created which depended upon the contemptuous denial of primitive and puerile aspirations as perpetual motion and the ability ever really to get something for nothing. The whole marvellous civilisation that has sprung from that physical basis has been handed over, lock, stock, and barrel, to those who could not give and have not given the world as much as a bun without first robbing somebody else of it… The skilled creators of wealth [in industry and agriculture] are now become hewers of wood and drawers of water to the creators of debt, who have been doing in secret what they have condemned in public as unsound and immoral finance and have always refused to allow Governments and nations to do openly and above aboard. This without exaggeration is the most gargantuan farce that history has ever staged.”

– “The Role of Money”, p. 51, published 1934

Ever here someone insist that government “printing” money is always a terrible, idiotic thing?

Private banks do it. Every single day. And make vast profits from doing so.

In the modern technological age, it is even easier for the banks than in Soddy’s day. There’s no longer any need to waste paper and ink writing down their ledger entries.

The “money” that banks create today, is just typed into a computer, every time a new loan is made.

“Genuine and Fictitious Loans.

—For a loan, if it is a genuine loan, does not make a deposit, because what the borrower gets the lender gives up, and there is no increase in the quantity of money, but only an alteration in the identity of the individual owners of it. But if the lender gives up nothing at all what the borrower receives is a new issue of money and the quantity is proportionately increased. So elaborately has the real nature of this ridiculous proceeding been surrounded with confusion by some of the cleverest and most skilful advocates the world has ever known, that it is still something of a mystery to ordinary people, who hold their heads and confess they are “unable to understand finance.” It is not intended that they should.”

– “The Role of Money”, p. 62-3, published 1934

My view?

The human race is doomed to experience the darkest dystopian future imagined by any ancient prophet, seer, or modern “science fiction” novelist.

We are within sniffing distance of the worst “Big Brother” Orwellian nightmares.

That is our fate.

Unless the exclusive, government-legislated power to create “money” is taken away from private and quasi-“government” institutions – meaning, banks and central banks.

Because that is where the ultimate physical power in the world rests.

With the creators of “money”.

For them to lose that power, requires education.

It requires people who do understand how the “money” enslavement system works, to share that knowledge with people who don’t.

Even if they do not want to hear it. Which most do not – the truth is often very uncomfortable.

Ultimately, it requires alternatives.

New “money” solutions that inherently decentralise the power of money.

Perhaps even something like this –

The People’s NWO – Every Man His Own Central Banker

The Biggest Drag On Our Economy

20 Feb

ball-and-chain

What do you think is the biggest drag on our economy?

If you said “usury“, welcome to Club Classically Correct.

Usury is not, as so many would have you believe, the charging of an excessive rate of interest.

That is the modern definition. Banker approved.

The classical definition of usury is commonly attributed to Aristotle:

“There are two sorts of wealth-getting, as I have said; one is a part of household management, the other is retail trade: the former necessary and honorable, while that which consists in exchange is justly censured; for it is unnatural, and a mode by which men gain from one another. The most hated sort, and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural object of it. For money was intended to be used in exchange, but not to increase at interest. And this term interest (tokos), which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of any modes of getting wealth this is the most unnatural.”

– Aristotle, c. 350BC (Politics, Book I, Part X)

Today, our modern “money” system is the pinnacle of the money-lenders’ art.

Or should I say rather, the money-lenders’ “artifice”:

ar·ti·fice
[ahr-tuh-fis]
noun
1. a clever trick or stratagem; a cunning, crafty device or expedient; wile.
2. trickery; guile; craftiness.
3. cunning; ingenuity; inventiveness: a drawing-room comedy crafted with artifice and elegance.
4. a skillful or artful contrivance or expedient.

The vast majority (around 97%) of “money” is simply electronic digits.

Digital bookkeeping entries.

Created by the banking system, every time a person signs up for a new (or bigger) loan.

(See The World’s Most Immoral Institution Tells You How + Think You’ve Got Cash In The Bank? Think Again)

And here is the key to the usurers’ immense power and wealth. They have been given the exclusive rights not just to create this digital “money” in the form of debt that must be repaid. You have to pay back those digital bookkeeping entries with interest.

It is interest – usury – that is the biggest drag on our economy.

Consider this.

According to the ABS, the average size loan for a first home buyer in Australia reached an all-time high $293,900 in December 2012. A typical variable home loan rate right now is 5.6% – that’s with the RBA’s official interest rate at record “emergency” lows, mind you. According to ASIC’s “MoneySmart” online calculator, taking out such a loan right now, and repaying $2,000 a month for the next 20 years and 9 months, would result in your repaying the bank $203,598 in usury alone.

Of course, this assumes that interest rates did not rise in the next 20-something years. If (when) they do, then so too does the amount of usury you must repay to the bank.

Just the other day I was wondering, “Has anyone ever bothered to calculate the total value of one year’s worth of usury repayments, on all home loans in the Australian economy”?

To be frank, I have neither the skills nor the knowledge to make an accurate calculation.

But it is not hard to work out a very rough approximation.  Something that helps give some idea of just what a drag on the economy the repayment of usury on the banks’ digital bookkeeping entries must be.

According to the RBA, at December 2012 the Australian banking system claimed a total $1.136 Trillion in residential loan “Assets”.

(Yes, that’s right. Your signature on a loan document, pledging yourself to decades of debt slavery to repay the bank their digits, is considered the bank’s “Asset”)

According to Canstar’s variable rate home loan comparison chart, a variable mortgage rate of around 5.6% would appear fairly typical right now.

So, as a very basic approximation, if the total value of all the banks’ mortgage “assets” at end December 2012 were on the variable rate of usury, thus earning the banks 5.6% p.a., then (ignoring compounding, which makes the total even higher) the banks’ would stand to earn $63.6 billion in usury on home loans in 2013.

Just imagine all the far better, more productive and valuable uses that much “money” could be put to in 2013 by Aussie households.

Now again, I stress my lack of knowledge on this data. For all I know, the value of expected usury repayments may already be included in the RBA’s total of banks’ mortgage “assets”.

If so, it matters very little. Even a mere 5.6% compound interest on >$1 Trillion in mortgage debts, is a huge annual sum.

Clearly, the drag on the economy from the burden of repaying usury to the bankers on home loans alone, is truly staggering. EPIC.

And when we consider that banks have done nothing to deserve this exclusive right to profit from our lifetime labours, the truth of Aristotle’s observation is only the more clear.

Of any modes of getting wealth, usury is indeed the most unnatural.

Will You Help Revolutionise Economics?

10 Feb

MinskyT-ShirtGraphic02

Back in April 2010, I joined with and supported Professor Steve Keen on his week-long Keenwalk to Kosciuszko.  For readers who don’t know, Steve is one of just 13 economists worldwide who foresaw and forewarned of the GFC.  Indeed, Steve won the 2010 Revere Award as voted by his peers, for being the economist who first warned of the impending crisis and (more importantly) the one who most cogently explained the reasons why.

For some time now, Steve has been working to develop a new computer program for modelling economics.  It is called “Minsky”, in honour of the economist Hyman Minsky. Yes, that’s him, in the cartoon above.  He developed the Financial Instability Hypothesis, which essentially recognised that lengthy periods of economic stability are actually a cause of subsequent instability and crisis.  It was Minsky who famously coined the phrase “Stability is destabilising”.

Steve’s “Minsky” computer program is revolutionary.

How so?

Well – believe it or not – it is the first economic modelling program that actually includes the role of banks, money, and debt.

Seriously.

Mainstream economists – including all those overpaid “experts” in the world’s treasury departments and central banks – failed to see the crisis coming.

But you already know that.  What you may not know is the reason why.  And that reason is simply this.

The mainstream economic theories (thus, models) they all believe in … ignore the role of banks, money, and debt.

You really can’t make this $h!t up.

Steve wants to change all that.  He wants to give the world the tools needed to properly model the real world economy.  Not an imaginary one.  Because in the real world, banks money and debt all matter. A lot.

To make this happen – to revolutionise economics – well, sad to say, it requires money.  Money to hire not just one or two part-timers, but a team of full-time computer programmers.

So, to raise money for this project, Steve has launched a campaign on the well known fundraising website called Kickstarter.

Please visit the campaign page here –

http://www.kickstarter.com/projects/2123355930/minsky-reforming-economics-with-visual-monetary-mo

I want to encourage you to take 2 minutes to watch Steve’s introductory video.  If nothing else, it will entertain and educate you. And if you really want to be educated – in (mostly) no nonsense, layman’s language – take the time to read what Steve has to say on his Kickstarter campaign page.

Then, if you feel that this is a worthy project … I certainly do! … then please, make a pledge.

As little as $2.  Because every dollar helps.

And please share the links to Steve’s Kickstarter campaign on your own blog, Facebook page, Twitter, and other social networks.

Your simply spreading the word will be a great help, and a wonderful support.

Thank you.

Lots.

P.S.

The Economist recently had a feature on “Economics after the Crisis” called “New Model Army” which featured Minsky as an example of what the future of economics could be:

In Australia Steve Keen, an economist, and Russell Standish, a computational scientist, are developing a software package that would allow anyone to create and play with models of the economy that incorporate some of these new ideas. Called “Minsky”—after Hyman Minsky, an American economist celebrated for his work on boom-and-bust financial cycles—it places the banking system at the centre of the economy. (The Economist, January 19th 2013, p. 68)

It’s Not Worth Anything

8 Feb

For more, see The World’s Most Immoral Institution Tells You How and
Think You’ve Got Cash In The Bank? Think Again

The World’s Most Immoral Institution Tells You How

1 Apr

To understand why The Banking System is The World’s Most Immoral Institution, you need only to understand how it actually works.

Not how it works in the lofty, rarefied atmosphere of incomprehensible acronyms like ARM and RMBS and CFD and CDO and QE and LTRO.

Just the basics of banking.

The works that you and I deal with every day, at our local bank.

Fortunately, The Banking System has grown so proud of its near God-like power, it is happy to tell us how the basics really work.

From Modern Money Mechanics – A Workbook on Bank Reserves and Deposit Expansion, a complete booklet originally produced and distributed free by the Public Information Center, Federal Reserve Bank of Chicago, now out-of-print (emphasis added):

Who Creates Money?

Changes in the quantity of money may originate with actions of the Federal Reserve System (the central bank), depository institutions (principally commercial banks), or the public. The major control, however, rests with the central bank.

The actual process of money creation takes place primarily in banks. As noted earlier, checkable liabilities of banks are money. These liabilities are customers’ accounts. They increase when customers deposit currency and checks and when the proceeds of loans made by the banks are credited to borrowers’ accounts.

In the absence of legal reserve requirements, banks can build up deposits by increasing loans and investments so long as they keep enough currency on hand to redeem whatever amounts the holders of deposits want to convert into currency. This unique attribute of the banking business was discovered many centuries ago.

NB: This is why governments the world over are so obsessed with maintaining public “con-fidence” in the banking system. It is why they so fear any hint of a “run on the banks”. As we have seen previously ( “Think You’ve Got Cash In The Bank? Think Again” ), the Australian banking system only has around $183.50 in stored ‘reserve’ cash for every employed person in the country.  According to Australia’s central bank, the RBA, there is only $53.2 billion in actual cash notes in existence (or $4,655 per employed person) … even though Australian households and non-financial businesses believe that they have a combined $986 billion in total Deposits. If 1 in every 19 Aussies insisted on withdrawing their bank “Deposits” at the same time … all the cash would be gone. To add injury to insult, The Banking System is “earning” (?!) interest (thus, profits) from a grand total $1.95 Trillion in “loans” created out of thin air, and “lent” to Australian households and businesses.  Interest on “money” that does not exist … except as a series of electronic digits that a banking clerk typed into a computer.

It started with goldsmiths. As early bankers, they initially provided safekeeping services, making a profit from vault storage fees for gold and coins deposited with them. People would redeem their “deposit receipts” whenever they needed gold or coins to purchase something, and physically take the gold or coins to the seller who, in turn, would deposit them for safekeeping, often with the same banker. Everyone soon found that it was a lot easier simply to use the deposit receipts directly as a means of payment. These receipts, which became known as notes, were acceptable as money since whoever held them could go to the banker and exchange them for metallic money.

Then, bankers discovered that they could make loans merely by giving their promises to pay, or bank notes, to borrowers. In this way, banks began to create money. More notes could be issued than the gold and coin on hand because only a portion of the notes outstanding would be presented for payment at any one time. Enough metallic money had to be kept on hand, of course, to redeem whatever volume of notes was presented for payment.

Transaction deposits are the modern counterpart of bank notes. It was a small step from printing notes to making book entries crediting deposits of borrowers, which the borrowers in turn could “spend” by writing checks, thereby “printing” their own money.

Consider what this really means.

A bank creates “money”, authorised by your signature on a loan document.

Your signature is your legally-binding agreement, to become the bank’s debt slave.

With a few taps on the keyboard and clicks of a mouse, the “loan” that you must pay back, with interest, is created right out of thin air.

An electronic book-keeping entry is made under your name, as a new bank “Deposit”.

And another electronic book-keeping entry is made under the bank’s name, as an “Asset”.

Your legally-binding agreement to pay back the “loan” … with interest … is the bank’s “Asset”.

Every person, every business, every nation with a debt to a banking institution, is in plain truth a slave to their own wilful ignorance.

Working and slaving away, day after day, to pay back with interest something that came from nothing.

While the “Big Club” of elite bankers stride the earth like princes, on the back of everyone else’s daily toil and trouble.

Producing no thing.

Gaining every thing.

The Banking System.

It is the World’s Most Immoral Institution.

It is also the World’s Most Unnecessary Institution.

Here is my solution, for how we should do it.

Some of you, we all know, are poor, find it hard to live, are sometimes, as it were, gasping for breath. I have no doubt that some of you who read this book are unable to pay for all the dinners which you have actually eaten, or for the coats and shoes which are fast wearing or are already worn out, and have come to this page to spend borrowed or stolen time, robbing your creditors of an hour. It is very evident what mean and sneaking lives many of you live, for my sight has been whetted by experience; always on the limits, trying to get into business and trying to get out of debt, a very ancient slough, called by the Latins aes alienum, another’s brass, for some of their coins were made of brass; still living, and dying, and buried by this other’s brass; always promising to pay, tomorrow, and dying today, insolvent; seeking to curry favor, to get custom, by how many modes, only not state-prison offences; lying, flattering, voting, contracting yourselves into a nutshell of civility or dilating into an atmosphere of thin and vaporous generosity, that you may persuade your neighbor to let you make his shoes, or his hat, or his coat, or his carriage, or import his groceries for him; making yourselves sick, that you may lay up something against a sick day, something to be tucked away in an old chest, or in a stocking behind the plastering, or, more safely, in the brick banks; no matter where, no matter how much or how little.

I sometimes wonder that we can be so frivolous, I may almost say, as to attend to the gross but somewhat foreign form of servitude called Negro Slavery, there are so many keen and subtle masters that enslave both North and South. It is hard to have a Southern overseer; it is worse to have a Northern one; but worst of all when you are the slave-driver of yourself.

– Henry David Thoreau, Walden; or, a Life in the Woods, 1854

Think You’ve Got Cash In The Bank? Think Again

5 Feb

From the Reserve Bank of Australia (RBA) website:

Click to enlarge

That’s $53.2 billion in Australian notes on issue.

Sounds like a lot, right?

According to the Australian Bureau of Statistics (ABS), in December 2011 there were 11.441 million employed people in Australia.

So $53.2 billion in notes equals just $4,655 per employed person.

Doesn’t sound like so much now, does it?

But wait. There’s more.

According to the RBA’s spreadsheet titled “Assets – Selected Assets and Liabilities of the Private Non-financial Sectors”, it seems that “Households and unincorporated enterprises” have $668 billion in “Financial Assets – Deposits.”

And “Private non-financial corporations” supposedly have another $318 billion in “Financial Assets – Bank Deposits.”

So that’s $986 billion in “Deposits” for households and private (non-bank) businesses … combined.

Versus a grand total of only $53.2 billion in actual Australian notes issued by the RBA.

Confused?

If so, then it is probably because you have not yet seen through the biggest, longest-running con in the history of the human race.

It used to be called “money-lending”.

Now it’s called “banking”.

In a nutshell, the “money” that most people think is in the bank … isn’t.

That’s why, during the peak of the GFC in October 2008, the RBA was printing up billions in extra cash, trying to keep up with a silent bank run:

The private banks keep reserves of cash distributed in 60 storerooms across the country with an average of about $35 million in each. They get topped up by the Reserve Bank before Christmas, when demand for cash typically rises by about 6 per cent, and at Easter, when there is a smaller increase.

[TBI note: That’s only $2.1 billion in stored ‘reserve’ cash at Aussie banks at any time … or a mere $183.50 for every employed person in the country!]

But in early October, the Reserve Bank started getting calls from the cash centres for more, especially in denominations of $50 and $100.

The Reserve Bank has its own cash stash. It is coy about exactly how much it holds, but it is understood to be in the region of $4 billion to $5bn.

As the Armaguard vans worked overtime ferrying bundles of $10,000 out to the cash centres, the Reserve Bank’s strategic reserve holdings of $50 and $100 notes started to run low and the call went out to the printer for more. The Reserve Bank ordered another $4.6bn in $100s and another $6bn in $50s…

Households pulled about $5.5bn out of their banks in the 10 weeks between US financial house Lehman Brothers going broke – the onset of the global financial crisis – and the beginning of December. That is roughly 80 tonnes of cash salted away in people’s homes. Mattress Bank is doing well, was the view at the Reserve. A year later, only $1.5bn had been put back.

(see Our Banking System Operates With Zero Reserves)

You see, dear reader, the global banking system is a colossal con-fidence trick.

Banksters have a government-issued exclusive licence to operate the most insidious “business” in the history of the human race.

They make a killing by lending us vast quantities of … digits. At interest.

Electronic code, in their computers.

Not actual cash money.

When you sign a form to borrow from a bank, the bank is ‘licenced’ to legally create new “money” to lend you. Right out of thin air.

The “money” loaned to you, does not exist.

It is just a new number, on their books.

Your new “loan”, is their new “Asset”.

What you have signed your working life away for, is nothing more than a new electronic bookkeeping entry.

You are working and slaving away, to pay back borrowed binary code … plus “interest”.

Tragically, most folks worldwide have fallen for this centuries-old con game.

Indeed, we have all been born into it. So, we consider it “normal”. We have known nothing different:

Most folks think that when they borrow from a bank, they are borrowing real money that someone else deposited.

Most folks think that banks pay interest to attract depositors, and then, lend that money out at a higher interest rate to people wanting a loan.

It just ain’t so.

As you can see from the RBA’s own statistics, even the “money” that we think we have deposited in the bank … just isn’t there.

There’s only $53 billion in actual cash notes issued by the RBA.

In total. For the whole country.

Versus $986 billion in “Deposits” that businesses and private citizens – you and I – think we have in the banks.

That’s about one (1) actual dollar in “face value”, for every eighteen dollars fifty (18.50) that we falsely imagine is deposited in the bank under our name.

If the “money” lent to you by banksters was only the money they had on deposit from other customers, then how would you explain the fact that (according to the RBA’s “Bank Lending by Sector”) Australian households owed $1.18 Trillion to the banks at December 2011 (including $721 billion for Owner-Occupier housing) … and Australian businesses owed a further $773 billion?

$53 billion in legal tender cash notes issued by the RBA.

$1.95 Trillion in bank loans to households and businesses … at interest.

That’s $36.80 in bank loans … at interest … for every $1 in actual cash printed by the RBA*.

It’s all bull$h!t folks.

By our lazy, ignorant complicity, in agreeing to allow our governments to grant banksters the exclusive power to create “money” and lend … electronic digits … at interest, we have all agreed to a system of human slavery.

Our own slavery.

We have enslaved ourselves, by agreeing to go along with this “system”.

It’s long past time that we all woke up.

And stopped playing along with the con game of “money”-lending.

And especially, of money-lending at “interest”.

There is a very good reason why so many great wise men – Plato, Aristotle, Cato, Cicero, Seneca, Moses, Philo, Buddha, and many many more – all denounced the evil of money-lending at interest. Indeed, it is the same reason why the only Biblically-recorded instance of Jesus Christ resorting to violence, was when he chased the money-lenders out of the Temple with a whip.

The wisdom of the ancients is even more relevant today.

In our modern technology-driven world – where “money” is now not even real gold and silver laboriously dug out of the ground, but mere electronic digits created at the tap of a keyboard and click of a mouse button – there is simply no intellectual or moral justification for the vast majority of mankind to continue allowing a tiny minority to profit from the life and labour of everyone else, by lending “money” at “interest” under government licence.

It is time to demand that our governments enact a single, simple, real reform that would change the whole world for the better.

For everyone.

(Except banksters)

It is time to ban usury … in the original meaning of the word.

And if our elected representatives refuse to act against the banksters’ interest, in our best interest?

Then the following essay outlines my suggestion for one way to beat the bastards at their own game –

The People’s NWO: Every Man His Own Central Banker

* Some may correctly point out that Australian banks do not only take “deposits” from Australians; they also borrow “money” from abroad, in order to lend in Australia. Indeed, this gives rise to the ever-controversial topic of the banks claiming that increases in the cost (ie, interest rate) they are paying for “wholesale” money they have borrowed from abroad supposedly justifies their refusal to pass on the full value of “official” interest rate cuts by the RBA. Nevertheless, the central point of this article remains unchallenged. According to the RBA at December 2011, AFI’s (All Financial Intermediaries) held $308.6 billion in “Offshore Borrowings” – a very far cry from the $1.95 Trillion in loans-at-interest to Aussie households and businesses. More important to note is that these “Offshore Borrowings” too, are mere electronic digits … not actual cash.

Carbon Permits Do Not Even Exist

2 Aug

Are the government’s carbon dioxide permits really just “bits of paper” for banksters and assorted financial parasites to shuffle around for fees and commissions?

Are the government’s carbon dioxide permits really just “bits of paper” for banksters to reference as the basis for creating new derivatives products for their long-sought carbon derivatives casino?

No.

As I have said all along, the carbon permits will not even be printed on physical paper.

They will be electronic bookkeeping entries.

Electronic digits.  In a computer.

It is yet another similarity with the completely farcical EU system, where over 3 million of these “permits” – which only exist as numbers in a “Registry” computer – were stolen between November 2010 and January 2011.

From our government’s exposure draft Clean Energy Bill 2011, Part 4, Division 2 (emphasis added):

Division 2—Issue of carbon units

94 Issue of carbon units

The Regulator may, on behalf of the Commonwealth, issue units, to be known as carbon units.

95 Identification number

A carbon unit is to be identified by a unique number, to be known as the identification number of the unit.

98 How carbon units are to be issued

(1) The Regulator is to issue a carbon unit to a person by making an entry for the unit in a Registry account kept by the person.

(2) An entry for a carbon unit in a Registry account is to consist of the identification number of the unit.

(3) The Regulator must not issue a carbon unit to a person unless the person has a Registry account.

Too easy.

Left click, left click on the mouse button.

Tap tap, tap tap on the keyboard.

Voila!

A new “carbon permit” has been created.

With a government-decreed purchasing power, of AUD $23 (in 2012).

In other words, exactly the same way that “money” is created under modern banking.

Wheeeeeeeeeeeeeeeeeee!

This bankster-designed evolution of the old medieval-era hoax called “alchemy” – formerly known as “turning lead into gold” –  is really easy.

You just have to be the one making the rules.

Which is why I say this.

Again.

There is only one way that common humanity can ever truly be free.

And stay free.

By taking unto ourselves – each and every one of us – those powers long held exclusively by a tiny minority of malevolent modern-day central banking “alchemists”, who create “money” out of thin air.

See my essay – The People’s NWO: Every Man His Own Central Banker.

“There are a thousand hacking at the branches of evil to one who is striking at the root” – Henry David Thoreau

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