CRISISBOOM

news-beacon-ireland

The nature of power in today’s world

The central bank system

 “Let me issue and control a nation‘s money and I care not who writes the laws.”

– Amschel Rothschild

Perhaps the single most important thing to know about power in the world today is that most nations do not have control over their own currencies. Instead privately owned, for-profit central banks – such as the Federal Reserve Bank in the US – create money out of nothing and then loan it at interest to their respective governments. This is an incredibly profitable scam, but that’s not the worst of it.

Not only do the central banks have the power to create money for free, they also have the power to set interest rates, to decide how much credit is issued, and to decide how much money is put into circulation. With this power central banks can – and do – orchestrate boom and bust cycles, enabling the super-wealthy owners of the banks to profit from investments during the booms, and buy up assets at bargain prices during the busts. And that still isn’t the whole story.

The most profitable of all central bank activities has been the financing of major wars, particularly the two World Wars. When nations are engaged in warfare, with their very survival at stake, the governments stretch their resources to the limit in the competition to prevail. The struggle to get more financing becomes as important as the competition on the battlefield. Moneylenders love a desperate borrower, and vast fortunes have been made by extending credit to both sides in conflicts: the longer a war continues, the more Full Article Here