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OpEdNews Op Eds    H2'ed 7/12/15

The Great Unbinding Part 1

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The Great Unbinding Part 1

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Private commercial banks exercise a near absolute monopoly on the primary issuance and allocation of money. Virtually all money is created out of nothing by banks and loaned into existence as government and private debt. Debt binds the nations in compliant submission while money buys the world at destitution prices. It doesn't have to be this way. Monetary reform -- breaking the bank debt-money monopoly -- is the first step toward the solution.

Banks issue money as linked pairs of positive and negative numbers: money and debt. Some people end up owning all the money; other people and their governments end up owing all the debt. The low priests of the marketplace blame moral sinners for their debts. But within this credit/debt monopoly money system that creates money and debt as "linked pairs": without the debts of sinners, there would be no money for winners.

Winners use their bank-created money to buy the world from the debt-bound sinners who built up the physical industrial infrastructure of the world with their genius and their sweat. The proceeds from sale of the world to winners is not enough to pay off the sinners' debts, so they remain in eternal debt bondage to the winners.

Ok, not "eternal". Debtors don't owe their soul to the company bank. Tennessee Ernie Ford and the fictional Dr. Faust notwithstanding, souls are not mortgagable assets. Death will free debtors from their chains. But their children still "owe" their debts. And then their children. Until the end of the world. Or the end of banksterism. Whichever comes first.

Capitalism converts the human and the natural world to property and sells it for money. Bankers create and allocate the money that buys the world. The bankers' money monopoly is dividing humanity into an owning aristocracy and a propertyless serfdom. An economics priesthood arises to justify it all. The low priests' ceaseless chanting casts a pall over humanity -- a dark veil that obscures humanity's vision while their world is being sold for money.

Money is the nervous system that activates the real economy, tells it how much of what kinds of things to do, and what kinds of things to not do.

Under the bank-debt money monopoly, all economic activity must meet the test of financial efficiency. Does this socially and humanly beneficial activity generate a money profit? No? Then you may not do it. Does this Earth-wasting, humanity oppressing activity generate a money profit? Yes? Then do it in abundance.

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I spent my working life as an independent small business owner/operator. My academic background is in philosophy and political economy. I began studying monetary systems and monetary history after the 1982 banking crash that was precipitated by (more...)

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