A Monetary Policy for the 99%: Twelve-Year-Old Reformer Goes Viral

Media pundits have tried to criticize Victoria Grant’s speech, using two fundamental lies that bankers use to maintain their tyranny.

BANKER LIE 1: A nation’s finances are the same as an individual person’s finances.

BANKER LIE 2: Public control of banking and currency would be inflationary

As long as the masses believe these two lies, the masses will remained impoverished and enslaved.

Now let’s see these lies in action. As an example, we’ll use the National Post of Canada, an ultra-right-wing, Jewish-owned rag that is on the bankers' payroll, and thus favors private banker tyranny.

In condemning Victoria’s speech, the National Post author says that debt does not come from private banker control. Instead, “We have a big public debt because, starting in the early 1970s and continuing for three full decades, our governments spent more on all sorts of things, including interest, than they collected in taxes.”

This invokes BANKER LIE #1, which falsely holds that a nation’s finances are the same as an individual person’s finances.

A private individual must balance his budget. If he spends more than he earns, then he is in debt. Governments, however, are different. Governments can print as much money as they need to pay off debts (or they could, if they had public central banks). Currently the national government is not funded by income taxes. The national government is funded by debt imposed by private bankers. At the federal level, all income tax revenue is used to pay only the interest on this debt. That is, all revenue pays the interest on the currency the nation has borrowed from private bankers.

If you believe the bankers’ lie that national finances are the same as individual finances, then you will also believe the bankers’ lie that we must have austerity in order to “balance the budget” and “reduce the deficit.”

The cause of national debt is private bankers, who charge compound interest on the currency they lend to us. This is absolute tyranny. In a typical nation, 90% of its national debt consists of compound interest charges.

Essentially the nation uses a credit card to pay for everything, and the bankers that issued the credit card keep raising the interest rate, the fees, penalties, and so on. All costs and interest are dumped onto the public in the form of austerity and poverty.

Continuing...

“The problem was the idea, still widely popular from the Greek parliament to the streets of Montreal, that governments needn’t pay their bills.”

Again we see BANKER LIE #1.

The truth is that governments (unlike individuals) can print their own currency. That is, governments do not need to “pay bills,” since governments do not have “bills” – unless governments choose to be ruled by private bankers, in which case governments do have bills, and the bills are owned by private bankers (and bond speculators, etc).

Continuing…

“Victoria’s solution is that instead of paying market rates, the government should borrow directly from the Bank of Canada and pay only token rates of interest.”

Not exactly. Why should any government borrow from its own bank? Why can’t a government just print currency (or generate credit) as needed?

“In other words, money literally printed to cover the government’s deficit would be put into circulation. But how is that not inflationary?”

Here we see BANKER LIE #2, which falsely claims that public control of banking and currency would be inflationary.

Public control is not inflationary, because a government (with a public bank) would need to print only enough currency to keep the economy humming, and everyone in prosperity. Currency is just bits of paper.  Private bankers withdraw these bits from circulation, in order to cause Depressions.

The bankers issue trillions in “quantitative easing,” but those trillions are gifts to the big banks and bond traders, so that the latter may continue to speculate and gain more power. The trillions do not circulate.

The truth is the opposite of what private bankers and their shills claim. The truth is that inflation is caused by private banker control. We can never earn enough to pay off our debt to the bankers, since our currency itself is debt. Therefore we must run faster and faster in a treadmill of debt. That’s inflation.

As things stand now, everything and everyone serves the bankers and speculators, who produce nothing but debt. The sooner we eliminate private central bankers, the sooner we will end this Depression.

Here is the source of the National Post asshole who tries to criticize Victoria's speech, and fails miserably...

http://opinion.financialpost.com/2012/05/16/william-watson-no-victoria-there-is-no-money-monster/