The world financial system is one gargantuan Ponzi scheme...
Global Research, March 01, 2011
28 February 2011
An Address to the International UFO Congress, Fort McDowell Resort, Scottsdale, Arizona, Saturday, February 26, 2011 by Hon. Paul Hellyer, P.C. Former Canadian Minister of National Defence
The world financial system is a total fraud. It is one gargantuan
Ponzi scheme, no better than the one Bernie Madoff used to swindle his
friends and neighbors, and thousands of times worse if you add up the
total number of victims it has ripped off over countless generations.
The principal difference between the two schemes is that Madoff was
acting outside the law while the international banking cartel has
persuaded generation after generation of monarchs, presidents and prime
ministers to provide legislative protection for their larceny.
The banks Ponzi scheme is alarmingly simple. They lend the same
money to several people or institutions at the same time and collect
interest on it from each. What the banks really lend, however, is their
credit, and what they take back in compensation for that privilege is a
debt that must be repaid with interest.
The number of times they lend the same money is called leverage. The
practice is as old as the hills but for our purposes we can start with
the goldsmiths of Lombard Street in London, England, who accepted
deposits for which they issued certificates redeemable on demand. They
paid their depositors a nominal interest rate on the understanding that
they could lend the money to their customers at higher interest rates.
They soon found that they could lend more than they had in their vaults
because only a few depositors came in to redeem their gold or silver at
any one time. It was a scam. It was illegal.
Nevertheless they got
away with it for a long while and the scam was legitimized when the Bank
of England was chartered to help King William finance his war. Rich
people subscribed £1,200,000 in gold and silver, as capital, to found
the bank, which then was lent to the government at 8 percent. To show
his appreciation the King allowed the bank to print £1,200,000 in
banknotes and lend them at high interest rates. In effect, the bank was
allowed to lend the same money twice – once to the government and once
to the people.
Over the years, due to the avarice of the banks and the complicity of
the politicians, that ratio has increased dramatically. In the early
days of the 20th century, federal chartered U.S. banks were required to
keep gold reserves of 25 percent. That means they were allowed to lend
the same money four times. I remember when Canadian banks were required
to maintain a cash reserve of 8 percent. That means they were allowed
to lend the same money 12½ times.
Today, thanks to Milton Friedman’s irrational flip-flop from being a
proponent of 100% cash reserves to the opposite extreme of zero
reserves, and the adoption of his ideas by the major central banks of
the world in 1974, multiples have increased dramatically – in some cases
to as much as 20 to 1 or more. Banks only keep enough cash to meet
day-to-day demands for those few customers who go in and request it, and
consequently the fraud is virtually total.
The system works this way. Suppose that you want to borrow $35,000
to buy a new car. You visit your friendly banker and ask for a loan. He
or she will ask you for collateral – some stocks, bonds, a second
mortgage on your house or cottage or, if you are unable to supply any of
these, the co-signature of a well-to-do friend or relative. When the
collateral requirement is satisfied you will be asked to sign a note for
the principal amount with an agreed rate of interest.
When the paperwork is complete, and the note signed, your banker will
make an entry on the bank’s computer and, presto, a $35,000 credit will
appear in your account which you can use to buy your car. The important
point is that seconds earlier that money did not exist. It was created
out of thin air – so to speak.
The banking equation is a species of double-entry bookkeeping where
your note becomes an asset on the bank’s books, and the new money that
was deposited to your account is a liability. The profit for the bank
comes from the difference between the low rate of interest, if any, you
would be paid on your deposit if you didn’t spend the borrowed money
immediately, and the much higher rate you would be obliged to pay on
your note – the technical term is “the spread.”
At some point, however, you have to pay off your note and any
interest owing. And not only you but everyone else who has borrowed
“money” from banks – including governments which, by the way, own the
right to print money but that have irresponsibly handed the right over
to an elite group of private bankers. Anyone who defaults is in big
trouble. Individuals who default will have the assets they pledged as
collateral seized by the bank. A government that is in danger of
defaulting, will be forced to borrow from the International Monetary
Fund, which will then tell that government how to run its affairs
including cutting back on services and selling off public assets to the
international vulture capitalists.
In reality, then, the banks have turned the world into one humongous
pawn shop. You hock your stocks, bonds, house, business, rich
mother-in-law or country and the bank(s) will give you a loan based on
the value of the collateral.
A world system where all the money is created as debt is a perpetual
disaster in the making. It is like a giant balloon that the banks pump
full of debt. The balloon gets larger and larger until the debt load
becomes too heavy to carry, and then it is like a balloon with a pin
stuck in it. The system crashes and thousands or sometimes millions of
innocent people lose their jobs, homes, farms and businesses.
Almost any high school student should be able to see that any
monetary system based on debt creation is totally insane. The total
world debt, mathematically, is always tending toward infinity – and
there is no possible way of paying it off. The real money (legal
tender) to do so doesn’t exist. And the real economy that depends on
cash to grow shifts into low gear whenever the supply of credit money
dries up.
Not surprisingly, there have been 25 recessions and depressions in
the United States since 1890. In several cases, including the Great
Depression of the 1930s and the current Great Recession, the evidence
indicates that the meltdown was anticipated by a few insiders who helped
trigger the catastrophe.
In the wake of the Great Depression, the U.S. Senate Banking and
Currency Committee Report that became widely known as the Pecora Report
on the Practices of Stock Exchanges, indicated that there were insiders
who benefitted from the crash. “Legal chicanery and pitch darkness were
the banker’s stoutest allies,” Pecora wrote in his memoir. Similar
allegations were evident in Charles Ferguson damning documentary “Inside
Job,” relating to the 2007-2008 meltdown. These reports, and other
historical evidence prove beyond any doubt that much of Wall Street is
rotten to the core. It has become one gigantic millstone around the
neck of both the American and world economies.
The collateral damage from the recent meltdown has been staggering.
The U.S. Bureau of Labor estimated that 8.4 million jobs were lost in
the U.S. alone. Most countries experienced similar dramatic losses.
The reduction in asset values worldwide has been estimated at $20
trillion U.S. dollars, yet not a single one of the culprits is in jail.
You would think that someone would have had the decency to launch a
class action for at least $10 trillion against every individual and
every organization that contributed to the catastrophe in any way.
It boggles the mind that a system so vulnerable to manipulation would
ever have come into existence in the first place. The evolution did
not happen by accident. It was not guided by the mythical invisible
hand of Adam Smith. On the contrary, for more than a
century-and-a-half, it was engineered by the barely visible hand of the
Rothschild family and its allies, and since World War II by the
Rockefeller family. The two dynasties combined forces to exercise
influence on many fronts sheltered by the cloak of secrecy established
by the Bilderberg Group.
The long term influence of the banking cartel is incalculable. Their
biggest coup was the establishment of the Federal Reserve System in the
United States. The big New York banks really didn’t like the idea of
genuine competition, so a small group held a secret meeting at the
private resort of J.P. Morgan on Jekyll Island, off the coast of
Georgia. Their scheme, devised by Paul M. Warburg, and subsequently
adopted by Congress, is a legal private monopoly of the U.S. money
supply operated for the benefit of the few under the guise of protecting
and promoting the public interest.
It is a tribute to the skill of the international bankers that they
were able to draft a bill, revise it, change its name and make the few
window dressing compromises necessary to get it adopted by Congress just
before Christmas when quite a few Representatives must have been
dreaming of sugar plum fairies instead of exercising due diligence.
Only Charles Lindberg Sr. seemed to grasp the essence of what was going
on.
To put it bluntly, the Congress transferred its sovereign
constitutional right to create money to the sole custody of a group of
private bankers. The magnitude of the hoist is unprecedented in the
history of the world – the numbers now are in the high trillions.
Soon after the bill was passed the magnitude of the tragedy began to
be recognized. William Jennings Bryan, who acted as Democrat whip,
later said: “In my long political career, the one thing I genuinely
regret is my part in getting the banking and currency legislation
(Federal Reserve Act of 1913) enacted into law.” President Woodrow
Wilson, just three years after passage of the Act, wrote: “A great
industrial nation is controlled by its system of credit. Our system of
credit is concentrated (in the Federal Reserve System). The growth of
the nation, therefore, and all our activities are in the hands of a few
men…. We have come to be one of the worst ruled, one of the most
completely controlled and dominated governments in the civilized
world.” But the bill was not repealed; almost 100 years later the
sell-out is still the law. This makes you wonder what the people’s
representatives have been doing to earn their salaries.
The people in charge of the original deception were very far-seeing.
They realized that when future governments had to borrow from them they
would need a constant income stream to pay the interest on the bonds.
So they persuaded the government to introduce income taxes, first as a
temporary measure, but later permanently, so it would be able to meet
its obligations to the bondholders. In fiscal year 2005 total
individual income taxes in the U.S. totalled $927 billion. Of that
amount $352 billion, or 38%, was required just to pay interest on the
federal debt. The figure would be higher now.
The banksters, as they were often called, then decided that an
independent press might catch on to the chicanery. Oscar Callaway is
reported in the Congressional Record of February 9, 1917 as follows.
“In March, 1915, the J.P. Morgan interests, the steel, shipbuilding,
and powder interests, and their subsidiary organizations, got together
12 men high up in the newspaper world, and employed them to select the
most influential newspapers in the United States and sufficient number
of them to control generally the policy of the daily press of the United
States… They found it was only necessary to purchase the control of 25
of the greatest papers. The 25 papers were agreed upon; emissaries were
sent to purchase the policy, national and international, of these
papers; … an editor was furnished for each paper to properly supervise
and edit information regarding the questions of preparedness,
militarism, financial policies, and other things of national and
international nature considered vital to the interests of the purchasers
[and to suppress] everything in opposition to the wishes of the
interests served.”
It has been suggested that the Bilderberger Group may have taken a
leaf from the Morgan precedent to protect their interests in the late
20th and early 21st centuries. That is impossible to prove because its
members are sworn to secrecy, and the press won’t report on its
meetings. Could it be mere coincidence that the monetary system, the
downside of globalization and the decades-long cover-up of the
extraterrestrial presence and technology (especially the clean energy
sources that would impact the value of oil stocks), the three subjects
of most direct beneficial interests of the banksters, are the three
subjects that are avoided like the plague by the mainline press?
I am not willing to go so far as to say that the men behind the
international banking system are evil men because their thoughts are
private. But Sir Josiah, later Baron Stamp, a former director of the
Bank of England, has given us a rare snapshot of the truth.
“Banking was conceived in iniquity and was born in sin. The Bankers
own the earth. Take it away from them, but leave them the power to
create money, and with a flick of the pen they will create enough money
to buy it back again. However, take that power away from them and all
the great fortunes like mine will disappear, and they ought to
disappear, for this would be a happier and better world to live in. But
if you wish to remain the slaves of Bankers, and pay the cost of your
own slavery, let them continue to create money.”
In the latest meltdown of 2007-2008, the Fed acted quickly to prevent
the Ponzi pyramid from collapsing completely. It printed trillions of
dollars to bail out the banks and a few industries that were highly
indebted to banks.
But what did the Fed do for the taxpayers whose money was so wildly
diluted to save the banks? Nothing! They were left to fend for
themselves. Millions of people lost their jobs, their farms, their
houses, their hopes, and their dignity as a result of circumstances
beyond their control. The taxpayers bailed out the banks, but got
nothing in return.
The same is true of governments who came so quickly to the rescue.
As a result of the meltdown their revenues were decreased so they were
forced to incur or increase their deficits, as well as to start cutting
back on essential services.
The Fed pretended to be helping stimulate the economy by reducing
interest rates to near zero. It would be an interesting exercise to
find out what happened to all of this low-cost money. It would be a
good subject for Congressional attention. How much did the banks use to
buy up domestic and foreign assets at fire-sale prices? Was any of it
used by financial institutions to try to corner world food markets and
raise prices at a time when millions are starving?
No doubt some taxpayers did take advantage of the low interest rates
available but were they warned about the old bait and switch game?
Anyone who acquires assets with cheap money runs the risk of losing
their property when the Fed ultimately raises rates. It’s all part of
the boom-bust cycle inherent in our infinitely silly monetary system.
The Economics Profession
What does all this have to say about the economics profession? What
it really says isn’t fit to print. Someone once said that if you put 20
economists in a room you will get 21 opinions.
That is not my experience. If you get 20 economists together they
are likely to give you one stock answer, or at most two. And if there
is one dissenter he or she is likely to be drowned out by the 19,
squawking like a flock of parrots the words memorized from what their
professors taught them.
I have witnessed this herd-like mentality firsthand. When I was
first elected to the House of Commons in 1949 there were only a handful
of Keynesians in Ottawa. Twenty years later nearly everyone was a
Keynesian including, I am told, Richard Nixon.
At that time there were only a few monetarists around. But they
spread like mushrooms and soon dominated the economic landscape. It
reached the stage when Keynes was anathema, and it was almost impossible
to get a tenured position in a school of economics unless you were part
of Milton Friedman’s monetarist revolution.
Apparently little if any thought was given to the possibility that
neither Keynes nor Friedman had got it right. The former was a bit
closer to reality than the latter, but both theories foundered on the
rocks of one inescapable truth. Both assumed that the economic system
is self-correcting, yet more than two centuries of experience has
demonstrated clearly that it is not! Someone has to be at the tiller
charged with steering clear of the shoals and rocks of economic disaster
and that person has to be someone who is responsible to the people and
not the self-serving boom-busters.
Global Warming
While bank reform is the most urgent problem facing the world today,
it is global warming that has equally or even greater long term
consequences. It is a total fraud to pretend that we have thirty, forty
or fifty years to reduce greenhouse gas emissions. There are reputable
scientists who think we may already have crossed the Rubicon. Even if
that is true, we can’t roll the clock back; we can only influence the
present and the future.
Each of the past three decades has been
the hottest on record, according to a report released in July 2010 by
the U.S. National Oceanic and Atmospheric Administration. The report
pulled together data from ten climate change indicators, measured by 160
research groups in 48 countries.
The data shows sea levels are rising; snow cover in the Arctic melts
earlier; the average air temperature is rising; ocean surface
temperatures have also been rising; the summer sea ice cover is
declining; sea air temperature has been rising; for 19 years glaciers
have lost mass; land air temperature has been rising – a global trend.
All of this puts the lie to the propaganda of the oil industry aimed
at creating doubt about the reliability of scientific data. Taking a
leaf from the tobacco industry, which managed to create doubt about the
safety of their products years after they privately knew the facts, the
oil industry has been attempting to raise doubt about the urgency of
replacing fossil fuels with clean energy, and with considerable
success. In their case, however, the stakes are higher. It was a
tragedy that so many people lost their lives through lack of sound
information about the consequences of smoking. In the case of global
warming, however, many times more people will have their lives put at
risk.
Still the oil cartel is making plans as if nothing is going to
change, and that we are going to be stuck with a fatal oil economy for
decades until the damage is irreversible. It is too late to begin more
offshore drilling. It is too late for new developments in the Alberta
oil sands. It is too late for more noisy windmill farms. The
transition must start now, with a 10-year deadline.
Is that possible? Of course it’s possible but only with the kind of
mobilization essential to win a war for survival. One excuse for
inaction has been the lack of money due to government deficits and
debt. But that obstacle can be overcome in less than a year if
governments and legislatures change the system and exercise their
sovereign right to make what is physically possible financially
possible. Heaven knows there are millions of unemployed workers
worldwide waiting to rise to the challenge.
The other major obstacle has been a lack of consensus on the form of
clean energy to use to replace fossil fuels. And that brings me,
finally, to the subject of the day, the extraterrestrial presence and
technology.
The Extraterrestrial Presence and Technology
It is a fraud for the U.S. government to pretend that it is not
interested in UFOs. In fact, it has been a matter of high and probably
pre-eminent interest for decades.
An early Canadian ufologist, Wilbert Smith, who was a senior employee
at the Department of Transport, where I became minister not long after
his retirement, wrote a top secret memorandum to the Controller of
Communications dated November 21, 1950 asking permission to set up a
group to study the geomagnetic aspects of UFOs propulsion systems.
As part of his memorandum Smith said that he had made discreet
enquiries through the Canadian embassy staff in Washington where he
obtained the following information.
(a) The matter is the most highly classified subject in the United States
Government, rating higher even than the H-bomb.
(b) Flying saucers exist.
(c) Their modus operandi is unknown but concentrated effort is being made by a small group, headed by Doctor Vannevar Bush.
(d) The entire matter is considered by the United States authorities to be of tremendous significance.
So, Dr. Vannevar Bush, one of America’s pre-eminent scientists, and a
team of experts he had assembled, were already working on
back-engineering by 1950. (Back-engineering is the combined art and
science of analyzing an object, in this case parts of a crashed vehicle,
in order to determine its characteristics for possible replication or
adaptation.)
Many people who are interested in the subject of UFOs use one of the
Roswell crashes of July 1947 as their starting line. Recent evidence,
however, confirms that the U.S. Army Air Corps was in the crash
retrieval business before that. Paola Harris, on July 5, 2010
interviewed two men, Jose Padilla and Reme Baca, aged 9 and 7 at the
time, who witnessed a saucer crash on Padilla land near San Antonio, New
Mexico, in August 1945. In her new book
Exopolitics: Stargate to a New Reality,
Paola gives the detailed account of what these men saw as children, the
actual crash, the creatures’ appearance, the pieces of the craft they
took, the military clean up, and an in-depth analysis of the
significance of the case.
I had the opportunity to chat with Reme Baca by telephone recently
and the thing that stuck in my mind was that when Sgt. Avila came to ask
Mr. Padilla’s permission to enter his land to retrieve the “object,” he
referred to it as “an experimental weather balloon.” That was exactly
the same ruse that Brigadier General Roger Ramey used in reference to
the Roswell incident two years later. Apparently there was a
considerable lack of imagination on the Army’s part.
In later years the Air Force, that had succeeded the Army Air Corps,
became much more sophisticated in its misinformation and disinformation
techniques. These include having the Star Visitors portrayed in movies
as sinister beings that we should be fearful of – probably without
justification.
Another fascinating case that Paola brought to my attention not long
ago was that of Charles Hall, the physicist and information technology
professional, who worked as an airman meteorologist at the USAF bombing
and gunnery range at Indian Springs, Nevada, in the 1960s.
Charles worked in close contact with Tall Whites, a species that I
had been previously unfamiliar with. Over a period of months he learned
to lose his fear of the aliens who lived, worked and played on Air
Force property.
In a two-hour telephone conversation he gave me many of the
characteristics of the Whites, described the scout ships in which they
travelled and said most of them were assembled in the U.S. Furthermore,
he talked about the mother ship arriving on the nights of the full moon
and sliding into its hangar cut into the side of a mountain nearby.
It was all fascinating stuff that included the fact that the Tall
Whites were working closely with the USAF and exchanging technology in
the mid-1960s. So it is very difficult to imagine how much has been
achieved in 60 years of back-engineering alien technology that was much
more advanced than our own. There is no doubt that myriad scientists,
technicians, and many of America’s most advanced aircraft and weapons
corporations must have achieved what would have been classified as
miracles just a few years ago.
It is alleged that the U.S. engineers working in one of the vast
underground facilities have built vehicles that are virtually
indistinguishable from those of other planets. If this is true, to what
purpose will they be put, and will it be for good purposes or military
purposes?
The area of discovery that is most relevant to this presentation,
however, is the question of exotic energy sources. Years ago it was
reported that both zero point and cold fusion energy had been
developed. These are energy sources that could facilitate the 10-year
target date and not only revolutionalize the world for the better, but
help preserve it as a happy habitat for Earthlings.
In the unlikely event that these sources are not yet commercially
viable, all we would have to do is ask one of the friendly species to
help us and they would because they are deeply concerned about our
stewardship. In the event that we are still treating them as enemy
aliens, and doing our best to shoot them down, we would have to curb our
lust of conflict and adopt an acceptable level of intergalactic
civility.
Better People
The third essential change is for us as individuals. A just and
peaceful world is not possible when it is riddled with graft, fraud and
corruption of all kinds. Greed is king and mammon rules the world.
Institutions have to change too. For centuries major religions have
been selling their alleged superiority or exclusiveness at the point of a
sword, leading to the deaths of thousands of innocents. The three
Abrahamic religions, for example, all claim the inside route to
paradise. Mathematically that is impossible. It is far more probable,
mathematically, that they are all wrong and that the truth is larger and
more inclusive.
Ancient and modern history both suggest that there is no hope of a
just and peaceful world unless all religions, and those with no
religion, forget their differences and start working together to build
the Kingdom of God on Earth. I define this as a world where every child
can expect food to eat, clean water to drink, adequate clothing to
wear, a roof overhead, access to medical support and enough education to
be able to determine how best he or she can serve humankind positively,
with dignity and self-fulfillment.
What a wonderful world that would be! But it would require a
180-degree change in policies and priorities and a serious effort to
apply the Golden Rule that all religions claim as a common thread.
The application of the Golden Rule would mean an end to empire
building, and the pursuit of military power and advantage. The U.S.,
for example, would have to stop being its own worst enemy. The
declaration of the war on terror was the biggest strategic blunder I
have seen.
On the 11th day of September 2001, following the attacks on the World
Trade Center, the United States enjoyed the sympathy of the world,
including Arab states and populations. The threat from al-Qaeda was
limited and quite within the potential of police and intelligence
operations to cope with.
The situation changed dramatically with the launch of a war on Iraq.
The goodwill began to evaporate overnight. Soon, instead of a few
dozens insurgents the numbers of young Muslims willing to die for their
cause multiplied to thousands and a great chasm of hate and mistrust
enveloped much of the world.
The U.S. has consistently refused to be even-handed in the
Israeli-Palestinian dispute, and the Israelis deceive themselves, and
the world, when they claim to be the victims. For a long while peace
has been within their grasp if they could have agreed to a just
settlement, and establishment of a vibrant Palestinian state. But a
handful of fundamentalists have always succeeded in disrupting the peace
process because they are not willing to accept the great Rabbi Hillel’s
admonition. “So always treat others the way you would like them to
treat you; that is the message of the Law and the Prophets.” Meanwhile
the peace and stability of the world remains in jeopardy.
The world community must adopt principles and practices that override
fundamentalists of any stripe whether they be Christian, Muslim, Jewish
or Economic. In addition, religious people should pay more attention
to their holy books. There is nothing in the Bible that would
legitimize a preventive war, with its carpet bombing, or the launch of a
drone or missile intended to kill one person when there is risk that
innocent bystanders will also die. Similarly, there is nothing in the
Qur’an that would justify suicide bombing that results in the random
death of innocents.
Global Hope
If you get the impression that the world is going to hell in a hand
basket you have heard me correctly. But it doesn’t need to be so.
There are remedies but they involve massive change in the areas
discussed – none of which are even on the political radar at present.
There is light at the end of the tunnel but, as Sir John Quinton, a
former chairman of Barclay’s Bank said, “Bankers sometimes look on
politicians as people who, when they see light at the end of the tunnel,
order more tunnel.”
What we are really talking about is restoring democracy to countries
that not only claim they have it, but also take pride in trying to
export it, even though they don’t really qualify as democratic as
defined in the dictionary. In Webster’s it is: “government in which
supreme power is vested in the people and exercised by them or their
elected representatives.” To begin, Wall Street has been the dominant
power in the U.S. for decades, and still is. Add to that the fact that
the Commander-in-Chief of the Armed Forces, the President of the United
States, does not have the security clearance for a number of projects
controlled by troops under his command, and you have to conclude that
the U.S. is not really a democracy.
The same can be said about Canada, the United Kingdom, Germany and
myriad countries that are really puppets of the International Financial
System. In each case the real interests of citizen voters is subjugated
to the demands of international finance.
There is a sad irony in reading U.S. history of the pre-revolutionary
and revolutionary days. Historians often attribute the revolution to
the tax on tea. On the other hand, “[Benjamin] Franklin cited
restrictions upon paper money as one of the main reasons for the
alienation of the American provinces from the mother country.” The U.S.
won the revolutionary war but then lost the next critical one when it
adopted the British banking system instead of pursuing the better model
their provinces had been experimenting with.
For the U.S. now to inflict the British practice on countries around
the world, using the International Monetary Fund and World Bank as
enforcers, is comparable to the King’s edict that gave birth to the
United States. So the financial chains of oppression have to be broken
and freedom restored to citizens everywhere.
It’s time to forget the tea party and address the critically
important issues facing the U.S. and the world. All of these issues are
non-partisan by definition and deserve the attention and support of all
genuine patriots without distinction of race, color, religion or
political affiliation – both in the U.S. and worldwide. We must unite
to preserve and enhance the beautiful satellite that is our birthright.
An Agenda for Action
The first and most urgent project is to clip the wings of the bankers
and democratize the money-creation function. In the U.S. the Federal
Reserve System must be abolished and its alleged function of regulating
the money supply be assumed by the federal government or an agency under
its direct control. The most powerful and valuable tool in the
economic arsenal must be available to the representatives of the people
who can be held responsible for their success or failure.
Some monetary reformers recommend that governments create 100% of new
money in a debt free form, greenbacks or equivalent. In the interests
of a fast and smooth transition I am suggesting that a ratio of 34%
government-created money to 66% bank-created money would work
satisfactorily. Banks would be required to maintain 34% cash reserves
against their deposits.
The important thing is that governments must immediately create the
large sums necessary to balance their budgets and get their economies
running at maximum output again. I am talking about an infusion of
perhaps $10 trillion U.S. dollar equivalent to start and more if needed
to get economies up to speed and to reduce unemployment worldwide by at
least half, with the creation of millions of new jobs.
Is this likely to cause massive inflation, as the financial cartel
will immediately allege, because it is one of its longest running and
most successful bugbears? The answer to their phony phonetics is a
resounding “no.” As any economist should know, it is the amount of
money that is created that influences prices, and not who prints it. So
as long as governments limit what economists call “the multiplier
effect” there will be no problem.
Certainly the present system has been inflationary. A 1950 U.S.
dollar is only worth 7.5 cents today. A common sense monetary system
should produce better results than that. So there is no reason why the
banking system should not be fundamentally reformed – at once!
There are four other actions that I think we, the people of the world should demand of our politicians.
1. A law must be passed at once to prohibit all politicians,
candidates for political office and political parties from accepting
money from any financial institution as well as make it a criminal
offense for any such institution either directly or indirectly to offer
it.
2. World leaders must adopt a 10-year time frame to reduce greenhouse emissions by 90 percent.
3. That will only be possible if the U.S. discloses its
knowledge of the ET presence and technology, and what has been
accomplished in 60 years of back-engineering.
4. The U.N. should declare 2012 the year of forgiveness and
reconciliation – a new era of cooperation and (agape) love between
races, tribes, religions, nations, and regions both mondial and
intergalactic. We have so much to learn from our star visitors in many
areas including medicine and food production.
So the U.S. must relinquish its privileged position as the center of
“the loop” as part of a new kind of leadership in creating the better
world we all dream of.
International Finance vs. The People of the World
None of this vision of a just and peaceful world will be possible
unless the all-pervasive power of the international banks has been
broken. In 1999 I wrote a book in which I said the next world war would
be between the banks and the people of the world. There have been
skirmishes for centuries and, so far, the banks have always come out on
top. They are now taking advantage of the recent meltdown, and the
resulting sovereign debt crisis to line up their heavy artillery
including the International Monetary Fund, the World Bank, the Federal
Reserve System and the Bank for International Settlements for a final
conclusive battle.
As always the aim of the game is to rob the people of the world of
their sovereign right to govern their own affairs, and to entrench the
power of the international banks, their elite industrial allies and a
small cabal of military insiders who run the world as their private
fiefdom. The word “unjust” is too small a word by far to describe what
they are up to.
If any skeptics think I am overstating the case don’t take my word for it. Go to
www.victoryfortheworld.net and read some of the books that can be used as references. A hundred pages of
The Web of Debt,
for example, setting out the history of money, will probably be enough
to make you sick at your stomach. I stopped reading it at night because
if often made me so angry I couldn’t sleep.
I entered politics more than 60 years ago because I thought
recessions were quite unnecessary. They were monetary phenomena with a
relatively easy fix. I have made hundreds of speeches on the subject
and convinced a few thousand people. But never the movers and shakers.
And the mainline press were less than helpful. They were so jaundiced
that they were not interested in a maverick speaking truth to power. So
it was always a case of David vs. Goliath, to use a Biblical analogy.
Now, for the first time, the power exists to turn the tables and go
for the jugular. The internet is providing power to the people that
they have never enjoyed before. The young people of the world, in
concert with the thousands of their parents and others who care about
the state of the world can use the power of social networking to effect a
miracle on their own behalf and that of succeeding generations.
The valiant people of Tunisia and Egypt have shown the way by
achieving what was believed to be impossible. We share their euphoria.
At the same time they, and we, must acknowledge that it is only the
beginning. Real freedom will only be possible when they have escaped
from the tyranny of international banks, and Wall Street is no longer
able to manipulate the price of their daily bread.
A good start might be to distribute a million copies of this speech and translate it into a number of languages.
Then the rising generation can bombard the barricades through their social networks.
Regime change is not necessary except for leaders who refuse to see
the light. But concerned citizens of the world should band together and
rattle the cages of all federal politicians. Tell them bluntly that
they must vigorously support the above agenda or face inevitable defeat
at the next election. It is a simple message, but the only one they
understand.
At a press conference on March 29, 2001 announcing the U.S. was
backing out of the Kyoto Protocol, President George W. Bush said, “A
friend is someone who tells you the truth.” That is what I have been
doing today. It is a message of global hope for every race, color,
religion and nationality in the world and of peaceful relations with
visitors from other realms.
Paul Hellyer, P.C. is a distinguished author and former Canadian Minister of National Defence
