Mickey On Banking - The Money Myth Exploded - Full Stores & Empty Wallets

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Offprint of the Michael Journal

THE MONEY MYTH EXPLODED
The Financial Enigma Resolved
A debt-money system

13. Enslaved by Oliver

A veritable tempest burst about the ears of the banker.

"Money's scarce on the island, fellow, because you take it away from us! We pay you and pay you, and still we owe you as much as at the beginning. We work our heads off! We've the finest land possible, and yet we're worse off than before the day of your arrival. Debts! Debts! Up to our necks in debts!"

"Oh! Now boys, be reasonable! Your affairs are booming, and it's thanks to me. A good banking system is a country's best asset. But if it is to work beneficially, you must have faith in the banker. Come to me as you would to a father... Is it more money that you want? Very well. My barrel of gold is good for many thousands of dollars more. See, I'm going to mortgage your latest acquisitions, and lend you another thousand dollars right now."

"So! Now our dept goes up to $2000! We are going to have twice as much interest to pay for the rest of our lives!"

"Well, yes - but I'll lend you more whenever the value of your property increases. And you'll never pay anything but the interest. You'll lump all your debts into one - what we call a consolidated debt. And you can add to the debt, year after year."

"And raise the taxes, year after year?"

"Obviously. But your revenues also increase every year."

"So then, the more the country develops each year because of our labor, the more the public debt increases!"

"Why, of course! Just as in your Canada - or in another part of the civilized world for that matter. The degree of a country's civilization is always gauged by the size of its debt to the bankers."

14. The wolf devours the lambs

"And that's a healthy monetary system, Mr. Oliver?"

"Gentleman, all sound money is based on gold, and it comes from the banks in the form of debts. The National debt is a good thing. It keeps men from becoming too satisfied. It subjugates governments to the supreme and ultimate wisdom, that which is incarnate in bankers. As a banker, I am the torch of civilization here on your little island. I will dictate your politics and regulate your standard of living."

"Mr. Oliver, we're simply uneducated folks, but we don't want that kind of civilization here. We'll not borrow another cent off of you. Sound money or not, we don't want any further transactions with you."

"Gentlemen, I deeply regret this very ill-advised decision of yours. But if you break with me, remember, I have your signatures. Repay me everything once - capital and interest."

"But that's impossible, sir. Even if we give you all the money on the island, we still won't be square with you."

"I can't help that. Did you or did you not sign? Yes? Very well."

"By virtue of the sanctity of constructs, I hereby seize your mortgaged property which was what you agreed to at the time you were so happy to have my help. If you don't want to serve willingly the supreme authority of money, then you'll obey by force. You'll continue to exploit the island, but in my interests and under my conditions. Now, get out! You'll get your orders from me tomorrow."

15. Control of the press

Oliver knew that whoever controlled the nation's money, controlled the nation. But he knew also that to maintain that control, it was necessary to keep the people in a state of ignorance, and to distract them by a variety of means.

Oliver had observed that of the five islanders, two were conservatives and three were liberals. That much had evolved from their evening conversations, especially after they had fallen into slavery. And between the conservatives and those who were liberals, there was a constant friction.

On occasions, Harry, the most neutral of the five, considering that all had the same needs and aspirations, had suggested the union of the people to put pressure on the authorities. Such a union, Oliver could not tolerate; it would mean the end of his rule. No dictator, financial or otherwise, could stand before a people united and educated.

Consequently, Oliver set himself to ferment, as much as possible, political strife between them.

The refugee put his press to work, turning out two weekly newspapers, "The Sun", for the liberals, and "The Star", for the conservatives.

The general tenor of "The Sun" was: "If you are no longer master, it is because of those traitorous conservatives who have sold out to big business."

That of "The Star": "The ruinous state of business and the national debt can be traced directly to the political responsibility of those unmentionable liberals."

And the two factions wrangled ferociously, forgetting the one who had forged their chains, that money master, the banker Oliver.

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