Once a nation parts with the control of its currency and credit, it matters not who makes the laws. Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of Democracy is idle and futile.
Who said that?
The Prime Minister of Canada, William Lyon Mackenzie King in 1934.
He was right, incidentally.
Now look at this (again)
This is the consequence of not doing so. Not one three month period from 1980 through 2008 passed during which economic output actually expanded, once new debt was subtracted back out of the figures.
That is, there was no actual economic growth during that period of time. It was all faked because a dollar of GDP cannot (by definition) be worth more than a dollar! Therefore collateral quality and quantity has continually decreased for 30 years, which ultimately must end with no collateral behind the borrowing done, which makes the emission of credit a pure pyramid scheme.
This is the mathematical fact of what we have done. It was recognized nearly 80 years ago and yet today we continue to pretend that this is not true and that “private” control of these functions is acceptable and useful.
That lie is in fact a pernicious and public fraud and the reason we cannot get out of the economic malaise we find ourselves in is that the losses engendered by emitting credit against ever-decreasing collateral — that is, intentionally making bad loans — can only be “covered up” by making ever more dangerous and ever-less-collateralized more and newer loans!
We are trapped by the arithmetic of what we have done and the 30 years of deception — first by the politicians and now through our own self-delusion has led to the nomination of three candidates who all are refusing to address the only issue that matters in the current campaign.
The entire western world is on the edge of a debt-driven collapse as a direct and proximate cause of 30 years of fraud in the political and banking systems. The mathematical facts are what they are and nothing — not even government decree — can change arithmetic.
We, the people, either stop this right now and demand that our politicians address these frauds, punishing those who committed them in the private sector and putting in place a legal framework that forbids this from happening again under criminal penalty commensurate with any other form of counterfeiting and fraud or you may as well quit politics entirely and find yourself enough arable land to survive with enough like-minded individuals ready and willing to defend that land along with the people upon it, because if we do not face these facts here and now our current economic and government systems will collapse.