Monthly Archives: February 2016

Student Debt . . . Society’s Shame!

According to the Office of National Statistics there are now 3.3 million young adults living with their parents. That’s 618,000 young adults (aged between 20 – 34) more in 2015 than in under a decade ago in 1996. Or to be more precise . . . That’s around 1 in 4 young adults were living with their parents in 2015!

As we delve further it gets more unpleasant, as we see that the percentage of young householders has decreased from 55% to 30% for 24 – 29 year olds and from 68% to 46% for 30 – 34 year olds, in that same time frame.

Neoliberalism sets out to create a rentier Society, where feudalism can flourish because land ownership is retained in the hands of the few. To ram home the point 91% of 20 – 24-year-old householders . . . YES 91% . . . live in rented accommodation, meaning just 9% own or are buying a home of their own.

The UK government tells us it wants to increase the number of affordable properties available for the young, supported by the other political parties who have raised this issue. This is lunacy of the worst and most despicable kind where our young are being financially crippled with student debt by that same government.

What possible logic is there in robbing the young before they have a job and then declaring that a ‘caring’ government’s solution to this problem is a ‘soundbite’ that might create a meagre supply of homes that would be affordable to some of the people they are enslaving in debt?

The lunacy becomes mind-numbing when we now hear that 73% of students will have some debt written off. If this is true, then what possible point was there in nearly doubling the average size of personal student debt in the first place?

In the US it gets even more horrific, as over $1 Trillion of student debt is viewed as a trophy of neoliberalism. Indeed, the government has actually changed the laws on bankruptcy so that they prohibit students from taking this course of action when debt becomes too much. However, the law continues to allow corporations this avenue of escape when their debts become too onerous.

Following this progression, it begs the question as to whether this unpleasant form of neoliberalism will cross the Atlantic, like so many other financial practices, to further persecute our young?

What we must not lose sight of here is that with the threat of even more odious trade agreements now being signed into law, (with supposedly no way of taking them off the statue books once they arrive), will bankers have the legal clout to enslave our young – and everyone else – in debt repayments, with no legal means of reprieve?

We create our world from what we believe in and our dominating beliefs dominate how Society conducts itself. Currently the purveyors of neoliberalism have the floor and their greed will be their eventual downfall because they are totally unaware of the type of Society they are breeding.

If we get down to basics, natural laws are by far the most powerful at work on this Planet and they are now being contravened big time! Not matter what type of living creature you are, be they animal or human, there is an overwhelming drive to ‘leave the nest’ and strike out on your own to carve out your own life. We see this at its most pronounced with fledgling birds and even lion cubs, where the parents will forcefully drive their young away to begin their own lives.

Human beings, being the most ‘intelligent’ of the Planetary species however, are arrogantly ignoring this most basic of drives and actually impeding this natural progression of its young. This greed driven action will have disastrous repercussions as our young become more and more disenchanted. Not because they are ambitious or violent but because they are trying to answer the call deep within each of them to ‘set up their own nest’ and breed a family.

Neoliberalism lacks any moral conscience and because it lacks the intelligence to work out that true power comes from nurturing those you wish to have power over, it is breeding a terrorist Society of the future. The young, we know, are easily drawn to terror organisations and other rebellious groups such as the evermore successful hacking groups.

It is not that they are inherently violent or want to kill. They simply see it as the only course of action, to try and right the wrongs being heaped upon them. Every explosion or release of secret documents into the public arena is a victory against this abusive establishment that is intent upon growing feudalism.

They are too intelligent to be returned to this medieval form of control (they have an expensive education to prove that!) and resistance will become stronger as long as neoliberalism is allowed to continue to dominate our culture.

The young are our future. What we sow in their young minds dictates tomorrows culture. We cried out that all young, no matter what their social standing, should have access to first class education and all we did was create a huge class of the indebted, with no chance of the promised jobs with which to repay that debt.

Society must hang its head in shame that we are not nurturing our future Society to look after this beautiful Planet. Instead, we are fomenting conflict and destruction that could escalate to unthinkable levels of destruction with arrogant, uncaring and bloody-minded governments.

Another ‘Wake Up’ call that is not getting sufficient exposure to my mind.

Until the next time

 

Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes

Lies, Damn Lies & The EU

All that is necessary for evil to triumph is

for good men (and women) to do nothing – Edmund Burke.

I’m sure you’ve all seen the little glass domes at Christmas with the lovely scene which, when shaken, becomes clouded by a snowstorm. When I watched Cameron on last Saturday nights news, supported by the full political circus – clever lighting, a rostrum strategically placed in front of No 10 and carefully worded speech (which he read VERY carefully from) – all I saw was a ‘snow storm of words’ spouting out of his mouth, like the snow machines used on ski slopes to make the dodgy bits perform better.

Like the Christmas toy, he was obliterating the real issues surrounding the EU and our vote on 23rd June. Immigration, Child benefits paid abroad, closer integration and the other emotive issues are designed to divert our attention from the real issue of the unregulated and unaccountable power Brussels has now amassed over our lives.

(E.G. The bureaucrat in charge of implementing TTIP has publicly declared “I do not take my mandate from the European people.” And neither do our ‘elected’ representative’s lady! . . . if ignoring 3 million European voters, who signed the largest petition in history against this odious agreement, is anything to go by!)

According to statistics this bloated bureaucracy is costing taxpayers £30 million A DAY to support. That’s £10.4 billion last year! It’s been in place for 60 years now and so, even at just half these amounts, it has cost us a staggering £312 billion . . . just for the UK and there are now 28 member states!!)

If we had all kept the money and ploughed it into our own social services we would have few health, education and welfare services problems today (and if we took out the compound interest we pay bankers for the use of our money and debt (currently £24,491 per person), those services would be the envy of the world).

Instead we have birthed a monster that grows ever more powerful and autocratic by the day as it erodes democracy and the ability of the people paying for it all to bring those abusers to account. What has evolved is a playground for the banks, where they can apply corrupt banking practices, enslaving us in odious debt that is sanctioned by this monolithic state.

Exaggerating? Look at Greece last year. It offers a spotlight on the reality of what the EU has become. Here odious banking practice and corrupt politicians brought the Greek people to their knees with the application of odious debt. Where was the EU to curb such appalling banking moneylending practice?

Instead of protecting the Greek people and the rest of us, with proper laws to stifle such activity the European Commission – charged with proposing legislation and implementing decisions – sided with the financiers to bring in unelected technocrats to do their bidding.

It was repeated in Italy, Sicily and elsewhere and does not have even the slightest vestige of democracy . . . And we are paying the wages of the people who got us into this mess and have no intention of getting us out. It truly beggar’s belief!

And whilst all of this is going on we are treated to our elected representative’s diversionary tactics, screaming about greater vulnerability to terrorism and crime if we leave, lower employment and the piddling amount to money being sent abroad in child benefits.

(Let’s not forget that the benefits fraud comes mainly from white UK nationals who are third generation benefits system benefactors and who think they are entitled to free money and don’t care who pays for it! Our benefits system needs a complete overhaul in which ALL who want to claim have to pay in for at least 4 years (say) before they can benefit. Those in dire need would have access because they are a part of a family who are paying in and are therefore entitled . . . but this is all for another day.)

There is only ONE question I will ask myself before I vote on 23rd of June and it will be this:

“How would I feel if I knew that Brussels was being dismantled and replaced with a much smaller body, charged with developing a European ‘Trading’ Union. Its task would be to weld together and support European businesses to go out into the global marketplace and develop trade for Europe. It and the businesses would be supported by taxpayer money and in return those businesses would undertake to pay their full taxes back into this EU Union.”

Just knowing that Brussels was being dismantled would not only get my vote but also make me feel better. A wrong (of many decades) has at last being righted. I don’t know about you but it would give me back my dignity and a sense of empowerment?

We have the power to do this as European voters but we need to become organised. Here again we have the wherewithal in the fabulous communications system now available to us, with Social media and independent news sources.

I am not an organiser, I am a writer and so I make a heartfelt plea now to those out there with the abilities to organise. I am thinking about the ex-finance minister of Greece, Yanis Varoufakis, who has just launched a new Pan-European movement DiEM25 – http://www.diem25.org/  What about the much neutered European trade union movements – https://www.etuc.org/ the online petition experts like 38 degrees in the UK – https://home.38degrees.org.uk/ together with The Taxpayers Alliance – http://www.taxpayersalliance.com/ and the many other like-minded groups who could be brought together.

This unification would then play a decisive part in unifying electors into a powerful voting machine that, at last, can begin to call the shots and make our elected representatives accountable once more. How easy would it then be to create hung parliaments that would have to listen to what the people want before we then put any party into power.

Brexit is not the disaster that the bankers and bureaucrat’s media cry it will be but rather the wakeup call for a necessary and fundamental reform of Europe. And don’t for one minute think the UK is on its own here.

Our fellow taxpayers/voters in the other member states have also had enough of EU domination and will quickly follow our lead. Particularly if they see we have a replacement body that makes a lot more sense and which they would, I am convinced, readily support – something the bureaucrats are terrified about and hence the vague, wishy washy and temporary agreements Cameron came back with, ALL designed to buy them more time.

We now have a golden opportunity to make the most important decision about current political life and do what the majority want to do . . . and that is not to wreck the EU but replace it with a democratic union that is beneficial to the people and not just the elected (and unelected) few.

Until the next time.

 

Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes

TTIP . . . Another Control Being Put in Place!

 

“In addition to the blogs, I publish a weekly Newsletter on a Friday dealing with anything during the week that caught my eye. I am sending this one to you as it is pertinent to my current theme on ‘Feudalism & Unification’. If you are happy I will continue sending you ‘week old’ Newsletters but please tell me if you are unhappy with this.

TYSM as always for your continued support of my work.”  J T Coombes

Observations for the Week Ending 12th February 2016

TTIP . . . Another Control Being Put in Place!

As the IMF and EU increase their financial control over the 99% through legislation and debt, so the corporate powers are now providing further pressure, through odious trade agreements that are designed, not for trade, but the obliteration of people driven democracy.

The old Establishment are certainly fearful of the freedoms the internet is now providing our species and dramatically reducing the traditional methods of control that have been used for millennia to keep the populace in ignorance.

These trade agreements are a last ditch attempt to apply corporate pressure to the obliteration of democracy, in a serious endeavour by the old Establishment to consolidate and maintain its power over Society.

Secret agreements, such as TTIP and TPP are still only available for vetting, by elected representatives of the people, in closely guarded rooms and no copy(ies) are allowed to leave these fortified spaces. Why is there such rigorous secrecy and has been for the 7-year gestation of the final documents, if Society is not being threatened?

This action itself is a blatant contempt for democracy and a scary indication of what might come if allowed to reach maturity. Perhaps we have already seen the future last year in Greece, where unelected bankers marched into the country and imposed restrictions of the people over the head of the elected government. With these trade agreements it will be not only bankers but also company directors and their technocrat officials, immune from any forms of control.

At the heart of this subversive activity by the powerful, is the move to enact legislation that neuters the legislative process of countries and therefore their governments. I still struggle to understand why governments are so easily giving away their powers like this. Unless it then becomes a very easy ride to just do what the corporations want and take the pay check at the end of each month.

The obvious legislative target here, without even thinking, is any and all legislation designed to protect citizens from shoddy and inferior goods and takes us down a frightening path of substandard foods and electrical goods, as high safety standards mean inroads into profit.

In the past, authoritarian power and its abuse has come from monarchs, with vast armies at their disposal to consolidate their power. In this 21st century it is debt, not armed forces that is underwriting the power, through debt obligation.

The problems of abuse are no different, although no longer restricted to just one country this time. For some restraint to be exercised we need a modern version of the Magna Carta document used 800 years to control the power.

The written word worked then and it can work again. Indeed, the internet provides the ‘unarmed’ resistance to growing control through the written word, in large part, providing the reduction in global ignorance that has previously allowed the 1% this control.

The original Magna Carta came from barons whose power base was being undermined. Today it is the middle classes who are being undermined and maybe this is the area from which a new ‘Global’ Magna Carta should emanate. Globally they are being attacked at their very source, by the application of indebtedness to their young before they have started any form of career and undermining jobs with new technology that is no longer restricted to the production line.

It is the unifying aspects of one global group of people, such as this, which could provide the impetus for a sustained and unified global reaction against the current increasing powers of the 1% and the obliteration of proper democracy.

By the very nature of their secrecy they are actively seeking to deny all forms of democracy, of which these odious trade agreements, now being signed into force, are very much a part. Indeed, they are the spearhead of the final nails being driven into the coffin of global democracy and we have to do something to fight back.

A global middle class driven Magna Carta of some description would fit the bill in uniting people in a commonly understood cause. The vast protest at the signing into force of these agreements shows a mind-set that is becoming united and action will come from this awareness and understanding of what is going on. Exciting times.

 

Enjoy your weekend.

2016 . . . Feudalism is Returning

The private banks have argued for a long time now that the issue of money should be exclusively theirs. They further argue that to allow governments this power would see political abuse of the monetary system. It is a sound argument, which has allowed financiers to amass not only great wealth but also vast power that now, as we are seeing, is usurping the powers of elected governments and eradicating democracy.

The end result of this is that in this 21st century we are being taken back to a feudal Society, where the people own very little and are enslaved by debt.

In feudal times the peasants (people) were allowed to farm and cultivate plots of land by renting that land from the powerful (Barons). They rarely achieved ownership of the land they worked because a large portion of what they grew was taken by the Landowner as rent for the land. This kept the people at a barely subsistence level from what they farmed. If they had a poor year they incurred debt, because of inadequate supplies of crops with which to pay the rent. If they were unable to ‘grow their way out of debt’ they were enslaved in serfdom.

I see many similarities between then, when Magna Carta came into force and today. Our private money system has created a property boom which is now pricing property at such astronomical rates, more and more people are being returned to renting their own home, or denied that opportunity, with little chance in the foreseeable future of this situation changing . . . A rentier Society.

Technology is being allowed to replace jobs with no political will to lead a vision of employment in this new era. Already the young are consigned to a form of slavery, as educated graduates, burdened down with debt, are finding it less and less possible to engage in a career with a meaningful future and income opportunities, leaving them with no option than to rent their homes . . . A rentier Society.

Cash is being abolished to enable our money to become wholly digital to support negative interest rates, where we pay the banks to look after our money! This means we will have no independence or control over our finances, as was the case when cash ruled. We will soon see our money frozen at the press of a button if we somehow transgress. Remember what happened to Julian Assange and Ed Snowden . . . all accounts frozen without any judicial process to confirm their guilt . . . A financially repressed rentier Society.

Given such a lacklustre environment in which Society is expected to function it can only mean a return to the feudal times of centuries ago. And this in a time when we can send people into Space and perform the most miraculous of medical operations and healthcare.

Nowhere is this more obvious than the odious TTIP trade agreement, which is being forced upon governments around the world. It will reduce populations by 50% by starving people, abolishing pensions and spreading poverty, according to Michael Hudson in an interview with Bonnie Faulkner this month (I am indebted to T J Greene @greentak for this one) http://www.nakedcapitalism.com/2016/02/michael-hudson-discusses-the-new-global-financial-cold-war.html

This supposed trade agreement is to force privatisation and disable government regulation.

. . . And I quote:

“There are a number of related aims: to nullify environmental protection regulations that cost money, to nullify protection of labour, and to nullify attempts to tax natural resources or economic rent. The idea is to turn roads and the transport system into toll roads, which will be owned by foreigners and run at a high charge. The Internet and the water system will be sold off and made into toll systems, to charge for their services and for other basic needs. This will impose a neo-feudal rentier economy throughout the world as the finance, industrial and real estate (FIRE) sector takes over the government sector.”

. . . And just to hammer home the point:

“The neoliberal plan is to create a post-industrial society. By “post-industrial” I mean a neo-rentier economy returning to feudalism. Instead of governments taking the lead and providing basic services at a low price to become a competitive economy, neoliberalized governments sell roads and energy, electricity, water and sewers to buyers that are going to charge whatever the market will bear. This is going to impoverish the country. It’s the opposite of what development economics taught through most of the 20th century”.

Austerity becomes a lot clearer when you realise that all of the debt slushing around this beautiful Planet is now so vast it has become unrepayable. The bankers have engineered this so they are now able to take repayments in the form of sovereign services, transport services, health services and water and sewage systems.

We are returning to a feudal society, by way of debt, that has been allowed to grow beyond prudent levels. Greece, which I rant so much about, is a precursor of what is to come. Where a country is simply broken up to pay odious debt that has been foisted upon its people by irresponsible bankers, aided and abetted by equally irresponsible politicians. Their beautiful islands are being sold off at rock bottom prices like some second hand car auction. TTIP is preparing us all for such action!

In spite of looking very black, there is something within me that continues to say “there will be a turning point”, as there always has been throughout our history. These tactics were tried after the 1929 collapse and seen to fail miserably. John Maynard Keynes, no less, preached against such action and was shown to be right. Financiers think they know better these days and only time will tell.

Very much in our favour now is the fact that we are no longer the global serfs of centuries ago, as I have said before. We are much better educated and with the powerful means of communicating with each other globally. When and where that turning point will be I really don’t know but happen it will . . . We simply have to believe!

(As an aside, you may not be aware, as I wasn’t, that 800,000 names (2% of eligible electors!) have ‘dropped off’ the electoral register, following changes to the way citizens register to vote in the UK. That’s 800,000 people entitled to vote who no longer can help to change things. The National Voter Registration Drive – #NVRD – is driven by passionate people who are rising up to address their governments failure to manage and nurture a ‘healthy’ democracy. Actions like this are on the increase and happening everywhere . . . hence my optimism!)

Awareness breeds understanding and understanding breeds change.

Until the next time

 

Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes

The Bank of Taxpayers . . . Why Not!!

Banking photo

In my last piece I postulated that when you get underneath the superficiality of our global financial systems it is the taxpayer who is the ‘lender of last resort’.  http://www.globalmagnacarta.org/2016/taxpayers-are-the-global-bankers/

When country’s get into difficulties it is the IMF who comes to the (expensive) rescue, with suffocating ‘Austerity’ conditions as a part of the lending terms for that desperately needed money. And when it comes to global power plays, the new layer of governance the EU represents was brought into being with taxpayer money.

Both of these examples illustrate one thing . . . they have considerable risk attached to them. In the former case it is the questionability of whether a country can actually pay back, given its fragile state.

In the latter, who could say with any certainty that this ‘instant monolith’ would actually succeed. Indeed, time is now showing that it is failing miserably, both as a democracy and a viable trading area, given the bloated bureaucracy that has birthed from outset to create this new layer of global governance. Billions of taxpayer money have been irresponsibly wasted with no accountability in evidence.

No bank in its right mind would venture anywhere near such deals with their own money. The IMF however, gets its money from the 188 countries who contribute to being members and they use this (taxpayer) money to conduct their business.

It’s a sort of elephantine hedge fund, using other people’s money to finance its deals but unlike a hedge fund those ‘investors’ – the international taxpayer – have no say and get no rewards for the risk their money is put to, only constantly lowering living standards and employment opportunities.

At least with the ever reducing ‘legitimate uses’ their taxes are put to a good deal of the money is used to run public services for the benefit of Society, although gradually now being swallowed by private corporations who reduce services to provide necessary profits.

If the taxpayer is to be ‘lender of last resort’, I don’t necessarily have a problem with that provided there is something in it for them for the risks they are taking. Provide them with the same ‘risk and reward’ philosophy that is an intrinsic part of business and you have a complete micro Capitalist system!

Our own ‘Taxpayer Bank’ would have endless positive effects upon Society. It would provide the finance for public infrastructures such as a state of the art Health Service, superb travel infrastructures like roads and rail as well as caring support systems for young mothers and the elderly. All because there is no ‘middleman’ concerned only with profit.

If you look more closely at this concept, what we are talking about is virtually replacing our current (very unpopular) tax system with a means to raise funds in a much more acceptable fashion, from the interest earned on loans to finance Society’s needs.

A Taxpayer Bank would only be accountable to its shareholders and customers . . . the taxpayers . . . who taxes would be dramatically reduced through the workings of a public bank.

The fundamental significance of this type of public banking is that it circulates its profits back into the economy, rather than taking them out, as is the case with private banks. It is a fundamental law of ALL Life. . . that everything is recycled and not hoarded or taken away!

Nature is the most powerful and perfect example of this law. Trees shed their leaves, which then rot down and provide the nourishment for those trees and so much else. Birds circulate pollen to bring to life the plants that feed us, as well as the flowers that calm us. Even squirrels, who ‘hoard’ nuts for the winter, eat those nuts later. If left, they will rot down to nurture future growth or become new young trees. Nothing is taken away or hoarded.

Our current financial system is the ringing evidence of the need to recycle, as it hoards vast amounts of money that should be put to good use back in Society again. This hoarding is a part of the control mechanism that represses the majority. Our global money supply is never adequate for Society’s needs, deliberately so to restrain us.

What manages this supply is the needs of the bankers, not Society. It is here that we get to the very fundamentals of money issue by private banks. QE has cast a spotlight on this controlling practice as the trillions printed have been aimed at the already wealthy, deliberately widening the gap between rich and poor.

On the other hand, a Taxpayer Bank for the people working alongside private banks, as is the case in Switzerland, will be good for the whole economy. The private banks can service the needs of the global corporate world and public banking the private individual and small businesses . . . with the taxpayer earning into the bargain! It will also provide the essential competition so important to a healthy economy and Society.

In the US the Bank of North Dakota is run on such lines, funding local businesses and the community. Its financial structure is reassuringly sound, because it circulates its income back into the economy. When the global banks went bankrupt in 2008 and stole from the taxpayer to stay in business, this bank thrived with sound banking practices and continues to thrive today, whilst those same global banks remain bankrupt.

Why aren’t there more banks like this in the US . . . Ask the private banks!

There is not a single aspect of a properly accountable Taxpayer Bank that I can find detrimental to Society. The financial rewards are unquestionable. The psychological benefits of a tax system such as this would not only be positive and motivational to people but also bring a nation together.

I believe there would be a sense of a shared responsibility, through this type of open banking, as they watch their investment translate into their very own world beating social services, financed by a commercial operation. The perfect welding together of Socialism and Capitalism!

We just need a new breed of people going into politics with this sort of collective vision.

Until the next time.

 

Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes

Taxpayers ARE The ‘Global Bankers’

As I was proof reading my last piece on how the IMF operate, I got to the sentence which refers to 188 member countries who contribute to a central fund.  http://www.globalmagnacarta.org/?p=766&preview=true. It was then that the penny dropped with a deafening KERPLUNK!!

The IMF is taking ‘subscriptions’ of taxpayer’s money, via the governments of its 188 members and then lending it back at exorbitant rates of interest, whilst further insisting on ‘Austerity’ measures as well.

So, they are taking our money, for which they are paying us nothing and giving it back to us at compound interest, on condition that they also take our public services and utilities at discount prices, for the privilege of lending us back our own money . . . that’s lunacy!!

It’s fair enough to take money into a central pool, to pay out to contributing members when they are in hard times. A motor insurer, however, would not ‘lend’ us the money, at usury rates of compound interest, when we make a claim and then also demand our cooker, fridge and TV at half their market value as a part of the deal!

To add further insult to injury, this money lending (it is not, by the wildest stretches of the imagination, traditional banking practice) demands that the people whose money they are using, have to reduce their living standards to pay usury interest on the debt they have incurred.

All indebtedness brings with it obligation. Obligation to act responsibly and repay the money within the terms of that loan. When those terms demand the ability and authority to walk into any country and ignore sovereign government and the democratic process, that power has become too great.

This is precisely what has happened in Greece, where shoddy money lending opened the door for global corporations to walk in and buy up whatever sovereign assets take their fancy, at prices acceptable only to them.

Most sinister here is the purchase of public utilities, particularly water, in the full knowledge that global water supplies are now coming under threat and demand will grow. Prices will rise, as well as profits, whilst the poor will die from thirst because they are unable to afford the most basic of life giving resources, which our beautiful Planet provides free gratis!

These practices are not purely commercial either. They represent a power grab of monumental proportions that now quite openly mocks global democracy and the actions of a responsible Society.

It is taxpayer money that funds the IMF and when there isn’t enough in the kitty, as was the case in 2008, they simply take more taxpayer money, which isn’t theirs, to fund the ‘bail out’ of their bankrupt banks.

And when this still isn’t enough to remedy the ongoing disasters of gambling, modern banking practice, they resort to printing their own money ‘out of thin air’ (QE) to prop up their (still) bankrupt banks.

This may sound like a reprieve for the taxpayer but the widening gap between the rich and poor is evidence to further abuse and power play, as already abused taxpayers are deliberately omitted from any benefits this new supply could provide.

And it’s not only the IMF that is funded by taxpayers. The EU was also brought into being with taxpayer money . . . Where else did it come from?

This bureaucratic ‘rice pudding’ is maintained by taxpayer money, of which the largest chunk pays the inflated salaries and expense accounts of an army of bureaucrats who inflict endless and pointless laws upon how we must live our lives.

The business world has been complaining for years now about how restrictive EU red tape has become and like us, (most of them) are funding it with their taxes. If we delve through the many layers we come to realise that taxpayer money is the primary source of all finance across the Planet.

‘W(eds) T(hurs) F(ri) has happened to allow this power to escalate in such a fashion? In fairness, it is the global ‘presstitutes’ who have applied political and corporate propaganda to keep our attention diverted from what is going on and we must become more aware of this!

It is time to wake up and smell the coffee! If taxpayer money is the ‘Global Bank’ and all the evidence seems to make that case then, as ‘Global Bankers’, those same taxpayers should be involved in the decision making, as well as benefitting from the profits. After all it is our money that is taking the risk and currently we just take the (gigantic) losses. In this manner, that money is being used to repress us.

In the case of the EU, billions have been wasted on an over bloated and increasingly unaccountable bureaucracy that works steadily to remove the funders – the taxpayers – from the decision making process.

In the case of the IMF, it is obligated to high employment and sustaining economic growth as defined in its Articles of Agreement https://www.imf.org/external/pubs/ft/aa/pdf/aa.pdf. It has not only failed abysmally to accomplish this but instead has amassed vast power, from debt, with which to trample over our lives with no apparent comeback.

This is feudal tyranny, without the need for armed backup, as both organisations abuse us with our own money. It is time to take back our power, because always remember – it is us who have given away our power, NOT them who have taken it.

The internet is also arming, without arms, the 99% but with the most powerful tool known to our species. That of information and knowledge and this will be shown to have given us the edge, as the more powerful weapon, in the long run.

The abuse of the 99% over the centuries has come from secrecy, which breeds ignorance and from that ignorance control is achieved. The only way to fight this, in my opinion, is by raising global awareness (something the internet is specifically designed for). With this raised awareness will come understanding that will bring about the changes we are now increasingly demanding.

Patience and perseverance, I am convinced, will bring change my friends.

Until the next time.

 

Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes

The IMF . . . Uncloaked!

You must stick to your conviction but be

ready to abandon your assumptions. – Denis Waitley

In my quest to urge we all grow Society’s awareness of the current world order, I am indebted to the vlogger Lisa Haven for making me aware of the Articles of Agreement of the International Monetary Fund (IMF). This provides the perfect example for my case.

Through the secrecy of the current world order we are controlled by our ignorance . . . no more, no less . . . and so the following is a lengthy piece. It covers some frightening facts about the immunity from accountability the IMF have awarded themselves in order to exercise that control.

I hope it explains why they were able to impose unelected regulation upon the Greek people last year with such ferocity and without any come back whatsoever from any government. The Troika comprising the European Commission, The European Central Bank and the IMF are one and the same club!

As background the IMF was formed out of the Bretton Woods Conference in 1944 and its objectives are quoted in Wikipedia as follows (Remember this bit, it’s important later):

“The organization’s objectives stated in the Articles of Agreement are to promote international monetary cooperation, international trade, high employment, exchange-rate stability, sustainable economic growth, and making resources available to member countries in financial difficulty.”

188 countries are currently members and contribute funds into a pool which individual members can draw upon if they get into financial difficulties. That this organisation came into being at the end of World War II is, to my mind, very significant.

International financiers had funded ALL sides during this global warfare, as they have done for centuries. Global levels of indebtedness were at a peak and so, therefore, they could exert pressure to consolidate their position at the pinnacle of world power. (The morality of financing and therefore encouraging all aspects of violent conflict across our species, irrespective of race, colour or creed is for you to decide.)

I give full credit (no sarcasm intended here) to the IMF for making their Articles of Agreement so publicly available. I can only surmise that they could see their only application would be for the medical profession, who might apply them as a non-addictive cure for insomnia!

I have therefore restricted myself to what I think the reader will be most interested in . . . their unassailable power!

Under Article IX we find Status, Immunities and Privileges which place it above global laws and accountable to no one (the following I paraphrase where verbose):

Section 1 Purposes of Articles (Boring!!)

Section 2 The Fund shall have the capacity to make contracts, acquire and dispose of immovable and movable property and institute legal proceedings – nobody is immune!

Section 3 The Fund however, is immune

Its property and its assets, wherever located and by whomsoever held, shall enjoy immunity from every form of judicial process except to the extent that it expressly waives its immunity for the purpose of any proceedings or by the terms of any contract.

Section 4 More Immunity

Property and assets of the Fund, wherever located and by whomsoever held, shall be immune from search, requisition, confiscation, expropriation, or any other form of seizure by executive or legislative action.

Section 5 Even more Immunity

The archives of the Fund shall be inviolable

Section 6 Unaccountable freedoms

All properties and assets of the Fund are free from restrictions, regulations, controls and moratoria of any nature.

Section 7 (Boring!)

Section 8 Immunities and privileges of officers and employees

Anyone associated with the fund, it seems, is immune from legal process when doing the work of the Fund. They also appear to enjoy ambassadorial status (immunity) insofar as immigration and alien restrictions are concerned, as well as the same travel privileges of (more immunity).

Section 9 Immunities from taxation.

All moneys, property and financial transactions are immune from taxation and custom duties. Nor is the fund liable to collect or pay any tax or duty.

Employees, no matter what rank, are exempt from personal taxation – All 2400 of them!!!!!!

(And they berate the Greek people for not paying their taxes . . . DUH!!!!!!!)

Section 10 demands that each member state institute whatever legal procedures are necessary, in their own country, to ensure the terms of this Article may be adhered to and advise the Fund of the detailed action it has taken.

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The above is extracted from just 3 pages out of the 89 contained in the full document, which you can read at your leisure here https://www.imf.org/external/pubs/ft/aa/pdf/aa.pdf. As you will gather from my simple resume, it is quite mind numbing in the extent of the powers the financiers have awarded themselves and to which 188 governments have signed up to and keep in force.

The issues this raises for me are numerous. What first jumps off the page, to my simple mind is . . . If they cannot be prosecuted, because they have paced themselves beyond all global legal process, how is this document itself legally enforceable? After all it is governments who make their paper money legal tender!

If it is beyond the law then presumably it is ‘outlawed’ and with only limited rights, as is every other entity that is ‘beyond the law’? I am no lawyer and I am sure this has all been legalised, somehow or the other but it is a frightening precedent that has been kept in force and out of the media spotlight for 7 decades.

This causes another worry, as they do not convene with elected governments but only with the country’s financial institutions, such as the Fed in US and Bank of England in UK. Here I come back to Greece again. It now becomes clear how they were able to insert, without any resistance, unelected technocrats into the very heart of the country’s democratic process, something they appear to treat with contempt.

When I boil it all down, it seems as though the only loyalty and accountability this Fund recognises is to the application and maintenance of debt. It is the obligation to debt that gives it this unreachable power. Yet the funds it manages and which it uses to apply debt, to gather and exert this power, are provided by the 188 country members . . . from our taxes, as governments don’t have any money of their own!

If this is the case we have a situation where we, the taxpayers, are funding an unelected and unaccountable global body that declares its intention (and I quote here just one of the 6 purposes):

(ii). To facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion and maintenance of high levels of employment and real income and to the development of the productive resources of all members as primary objectives of economic policy.

The current state of world economics and employment can best be summed up by the Funds Managing Director Christine Lagarde (on over half a million “tax free” dollars remember!), in a speech about the then problems within Europe and given in Brussels on 10th December 2013:

“First and perhaps most important, growth rates and output levels still remain well below where they should be. With unemployment rates as high as they are, this gap between actual and potential growth rates is likely to remain large for the foreseeable future.”

Well, with all due respect lady and without your grasp of global finances, this humble taxpayer would like his money back please, together with an end to a body who seems to have successfully made themselves immune to the chaos and pain they are now inflicting upon the 99%.

Awareness breeds understanding and understanding breeds change

 

Until the next time

 

Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes

Our Toxic Financial System – Part 3 of 3

Nathan Rothschild

In Part 1 http://tinyurl.com/z3x2yzb I justified my use of the word ‘toxic’ in the title from the dictionary, which described it “Causing social harm or unpleasantness” – The Free Dictionary by Farlex. In this final part I would like to offer examples of how the biggest global monopoly in our history is now consolidating its vast powers and whether they are of benefit to Society or not.

In Part 2 http://tinyurl.com/j3xu9uq I alluded to how money comes into being. Monopoly allows them to simply create loans on a balance sheet and bring money into existence (out of thin air) for the duration of the loan and on which we pay interest.

This monopoly to supply our money no longer needs to hold reserves of tangible assets – like gold – to support the value of that money. Indeed, to protect this monopoly they actively work against any country looking to bring its own currency into existence. Recently (and quietly) disclosed in Hilary Clinton emails), it was confirmed that Gaddafi was looking to introduce a gold backed currency into Africa and never quite made it.

With no control over how much cash is circulated into Society, because it is no longer controlled by how much gold reserves the banks have to hold, we have seen a printing bonanza since 2008, as money is flooded into the economy to stave off what should have been an economic collapse and recession.

These vast amounts of money were supposed to be put out into Society to spend on goods and services, thereby stimulating the economy back into a healthy position. A monopoly however, allowed banks to hold on to the money to boost their own severely strained reserves (they were all technically bankrupt after 2008). They also gave cheap loans to the corporate world. These were used to buy out the competition and buy back their own shares, thereby artificially holding up their share prices, in an era of falling sales.

This stimulated the growing gap between rich and poor, as the banks directed their money in just one direction – the corporate world. Like a gardener directing his hosepipe to water just a part of the garden, those plants that received it flourished and the remainder withered.

In spite of all the reassurances from the experts, like the Federal Reserve, that ‘QE’ would sort the problem of growing unemployment and economic slowdown, it didn’t. In addition, these private banks have continued to merge risky investment banking with their consumer banking, the very problems that heralded the collapse of 2008.

Because of their monopolistic position the banks are again looking to the public to bail them out, by taking current account money and savings next time. (Don’t raise the fact that we have a government protection scheme to reimburse us in this event . . . that is our taxpayer money again that will support this second grand theft!!)

As we become aware of what is happening the astute will take their money out of the banks and hoard it under the bed, as we have done for eons when distrust of the banks sets in. This time, because they are so fragile, the banks want to pre-empt our astuteness by getting rid of cash, something already under way in – Canada, Denmark, France, India, Israel, Norway and Sweden, to name but a few.

If we are restricted to plastic, (which ordinarily need not present a problem, if properly overseen) our money is no longer in tangible form as notes and coins but simply numbers on a computer screen and their monopoly will allow them to deny us access at will. Their monopoly control then becomes absolute. Their reasoning is that it will enable them to crack down on money laundering and tax evasion.

Indeed, only in the last year or so Switzerland has been under attack from US agencies to make public the many corporations who deposit funds in secret bank accounts to avoid tax. Having done the gentlemanly thing and given in, Switzerland is now seeing this money transferred to Reno, Nevada in the US, where that same privileged tax status is available to those same corporations!

Debt obligation is underwriting the flourishing of this financial monopoly and as with all monopolies, Society is the poorer for it. We have absolutely no control over current financial abuse and our governments seem to be helpless because of their debt obligations to theses very banks.

Private banking has its place in Society, I believe, as a provider of services to the corporate world. What current banking practice has established is that we need a separate ‘public banking’ system, for the private individual and accountable to those very people, as both customers and taxpayers.

Here there is a ray of light in no less a place than Switzerland, the home of global banking. This country operates both public and private banking services, the former of which provides the citizens with one of the best health services in the world. Now there is a move to demand that government, not the private banks, has the exclusive power to create the country’s money.

The reasoning for this is summed up as follows:

  1. Currently money is created as debt, resulting in severe malfunctions.
  2. The country’s money supply is under private control and therefore a monopoly.
  3. Bank deposits are not secure.
  4. Money supply rises and falls in line with banking profitability, not social need.
  5. The money supply fosters inflation.
  6. Debt issued money is only a benefit to banks and not to Society.

Interestingly this has not been widely covered by global media and left to the specialist publications and social networking to be heard. (Another ray of light in our rapidly changing world!) It is early days but here, at its very centre, is evidence of awareness on the injustices of debt driven monopoly banking.

We have a new, plain speaking breed of political leader emerging and showing integrity and a desire to break from the current world order of unelected corporate rule . . . like Jeremy Corbyn in the UK and Bernie Saunders in the US.

They can’t do it on their own, as Gaddafi, Lincoln and JFK have previously demonstrated but in league with like-minded politicos we could see real progress to a less abusive monetary system . . . and so much more.

Awareness breeds understanding and understanding breeds change

 

Until the next time

 

Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes

Our Toxic Financial System – Part 2 of 3

Nathan Rothschild

In Part 1 http://tinyurl.com/z3x2yzb I tried to give an overview of what I mean by ‘toxic’ banking. It represents ALL of the reasons we try to legislate against the human fallibility for monopoly situations. Bitter experience has taught us that price fixing and other abuses occur because monopoly is seen as the ultimate means by which to maximise a return on capital.

Bankers are to be commended for the manner in which they have stealthily created a monopoly of the global production of money over the last century or so. 97% of all countries produce their own currency through private banks. The banks argument is that money is their business, not that of governments. To the general public however, it appears that their money comes from government.

The ‘Federal’ Reserve and the Bank of ‘England’ appear to be government institutions but are, in fact, private companies operating for profit. Money gets into our pockets when our governments borrow from the banks and put it there.

They do this by Issuing letters of intent (Government Bonds) which promise to pay the purchaser interest on the money. Banks respond by taking on the loan/Bond and lending them money, by printing pieces of paper which are put out into Society as money.

(At this point there is no difference whatsoever between the pieces of paper the banks print and the pieces of paper printed for the world famous board game Monopoly – coincidence in the name – You decide!! What makes the difference in value between the two pieces of paper is, that the government legislates that one is an ‘official currency’ and the other is not . . . That’s all there is to the validity of our money, both here and abroad.)

I have explained in this manner to emphasise that every coin and bank note in our pockets and purses, together with every other piece of money you can think of, our governments pay interest on to the private banks from whom they originally borrowed it. If they paid it all back, there would be no money in circulation and Society would come to a grinding halt!

The grip any monopoly exercises over Society becomes expensive to the user. For all money in circulation, the interest private banks demand our governments pay is compound interest, which means we are not only paying for the cost of the outstanding loan but also for the interest on that loan.

So if you borrow £10 at 10% p.a simple interest, you pay interest of £1! But with compound interest you pay the interest on £11 (the loan plus the interest). As you can see from this oversimplified example (done for my sake!) adding interest to the interest pushes up indebtedness to the banks.

Since the 2008 financial collapse this indebtedness to private banks has grown exponentially, along with the power they are able to exert over Society, as the people of Greece found out rather dramatically in 2015!

This whole monopoly becomes more bizarre when you come to realise, as I did, that no longer do banks hold vast stacks of cash in tower block size vaults. Their money is only ever released as loans and only in circulation as long as the loan lasts.

When you want to buy a car you take out a loan. It registers on the banks accounts as a debt, against which they have made a credit to you of the money. That is how money comes into being (out of thin air) and when you pay back that loan the money disappears back into the ether again. When governments need money the same thing happens, only on a much larger scale of course.

So in essence it costs the banks ‘3/5ths of 5/8ths of bugger all’ to supply us with money, for which they charge and make inordinate amounts of profit, plus the power they accumulate by our indebtedness. It is the ultimate monopoly, in my opinion and its growing power is now enslaving us and our governments in debt.

Because of this monopoly, private banks are also able to leverage more than just interest for the use of their money. We are now seeing them demand our public resources, including our most fundamental water supplies at rock bottom prices.

This incredible position of unelected power has been achieved, in large part, by our own ignorance of how money is produced. This deliberate policy of secrecy has kept us in ignorance of their growing monopoly position. As Henry Ford is quoted as saying

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning”.

There is no starker evidence of the power of this monopoly and our ignorance, than the ‘bail out’ of the banks in 2008. Not only a dishonest use of public funds for commercial purposes by our governments, it also established a frightening precedent. That taxpayers will underwrite the losses of commercial companies at the cost of our public services, where the money was originally intended.

Our ignorance is being further tested with talk of ‘bail ins’. Here, the money we hold in our banks, be it in our current account or other investments can be taken in similar fashion to our taxpayer money, should banks again need financial support. This is a forgone conclusion as monopoly demands little regulation, which caused the collapse in 2008.

This global monopoly has created an environment where our money is not owned by us and therefore we have helpless over its control or management. If it is governments who determine which pieces of paper are legal tender, then it is down to us to find people who will legalise public printing presses to produce our own money.

This will see either our money produced free of charge OR any interest charged returned to the people by way of first class public services and the abolition of personal taxation. All of which public banking is quite capable of doing.

It happens in Switzerland . . . but developments there are for Part 3.

Awareness breeds understanding and understanding breeds change

Until the next time

 

Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes

Our Toxic Financial System – 1 of 3

Nathan Rothschild

I deliberated long and hard about using ‘Toxic’ in the title and even turned to the dictionary. This decided me (The Free Dictionary by Farlex):

3a. Extremely risky or harmful, as a debt for which the borrower is in default and the collateral has lost   so much value that its sale cannot cover the amount of the loan.

3b. Causing social tension or unpleasantness.

A ‘Monopoly’ is something we are very wary of because we know from bitter experience it generates a level of power over the users of services and goods that becomes increasingly uncompetitive and expensive.

Big Pharma is a good example, where (patented) life giving drugs are price fixed to (often) put them out of the reach of the very people they should be helping. The AIDs virus was one such case, particularly in Africa, where it was rife and standards of living were amongst the poorest in the world.

This pales into insignificance however, compared to our global private banking system. They too have ‘patented’ money and become the exclusive suppliers of 97% of the world’s currencies and cash. It is by far and away the biggest monopoly within our species.

We know how toxic monopolies can become and regularly introduce laws to restrict such practices. The sheer size and power of global banking demonstrates how ineffective we are in this endeavour.

Whilst Big Pharma create exclusivity to price fix their products for maximum profit, private global banking is amassing vast powers over the global population from debt, which also produces elephantine profits for them.

Monopoly ignites human fallibility to abuse and greed and power are the ultimate fuel. We have seen this power at work in 2015 when unelected representatives, the Troika, brought Greece to its knees, shocking the world in the process. This is the power of debt at work in all its uncloaked savagery and witness to control by monopoly.

Monopoly often goes beyond what many people are aware of and is best described with the many levels of abuse on Society through Student Debt. To start with there is the moral issue, which seeks to make money out of our young before they even have the means to financially stand on their own two feet.

This helps consolidate the monopoly position of private banks in several ways. Firstly, it places students under financial obligation and gets then used to debt at an early age, conditioning them to a mental frame of mind that accepts debt as the primary means by which to finance their future lives.

Secondly it indentures them into an already financially controlled Society, ensuring they feel they are in a ‘normal’ environment where the payment of interest, for the use of the money in their pockets and bank accounts, is paramount.

Thirdly, this monopoly environment begins to reach into other areas of their lives. It is now the (ludicrously narrow) yardstick by which characters are assessed, even to the extent of how credit worthiness can affect suitability for a job – to hell with an expensive university education!

Sadly, this monopoly is strengthened by our governments who have been inveigled into supporting this lending as the ‘retailers’ of the money, borrowed from the banks and put out in grants, hoping to make a profit on the deal. “Wait a minute” I hear you say, “This is a good thing as government makes a profits that benefit taxpayers!”

Sadly, it is now becoming apparent that their inability to create employment is seeing a growing number of students unable now to repay the loans. In the UK in 2015, government set aside £2bn a year to cover student loan write down. 45% of loans are now anticipated will be written off . . . It was $3billion in the first three months of 2013 in US!

This means that instead of a profit for taxpayers they will yet again be contributing to the profits of private banks. The students cannot be made to repay the debt but government can, with taxpayer money, because they too are indentured by the power of this global monopoly, whose concern is only ever the payment of their profit/interest.

We can see through this one example, how the toxic power of monopoly can cause multiple abuse. Here, in addition to the enslavement of the young, public money is intertwined with commercial practice to underwrite guaranteed profits for private banks, when it has actually been raised to provide public services to support Society.

I have tried here to illustrate how pervasive debt has become within our Society, from a monopoly control that we have known for centuries is both abusive and destructive. In Part 2 I will take another closer look at the private banking system, to illustrate the toxic affect that monopoly has upon our future as a species, by controlling Life through frighteningly narrow constraints.

Awareness breeds understanding and understanding breeds change.

Until the next time.

 

Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes