CHAPTER XIII: MONEY CREATORS AND THE POLITICAL CONTROL Page 193 In their inception, so-called political parties were other expression of the principle of rule of tyrant, or dictator. Though apparently instituted in opposition to each other, such societies were the very natural outcome of complete usurpation of the essence of sovereign power through conspiracy in respect to interference with the issue of the unit of exchange. Such front organizations are the natural result of semi-secret societies arrogating to themselves that privilege which formerly belonged to the god alone, of the creation of exchange units, abstract or otherwise. The only limit would be the limit dictated by caution against over-saturation of that money market being interfered with. Naturally it was usually borne in mind that the (silly) goose that laid the golden eggs must not be altogether destroyed and care was taken that the real meaning of these activities was deeply concealed for fear that ruler and people might come to realize the true nature of the forces at work in their midst. (In respect to money creation and issuance, Dr. Paul B. Trescott in his work: Money, Banking and Economic Welfare in which the process of deposit creation (which would be known as money creation if more direct language were used), is briefly but aptly summarized. According to Dr. Trescott, in order to make a loan of $1,000 to a customer, a bank needs only to credit his account with 1,000 in its books by a stroke of the pen. This process by which deposits are created consequently causes increase in the total money supply. Dr. Trescott further remarks: The process of creating deposits is obviously a simple and painless one for the banks.
Posted on: Sat, 24 Jan 2015 22:54:55 +0000
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