I bought this pamphlet over thirty years ago, and it is more relevant now than it ever was. The advent of the Internet means that more people than ever understand the mechanism of credit creation and what should be done about it, but as I write these words while the people of Cyprus are being shafted by the banksters, there are those who still don’t get it.

The financial system is one enormous Ponzi scheme; banks create money (credit) at no cost to themselves, and sell it at their caprice to governments, corporations and individuals. Because it is created as an interest-bearing debt, it will always be impossible for everyone to pay the bills. It’s a bit like a game of musical chairs with money instead of chairs. The big difference is that when the music stops, someone is left bankrupt.

All this is totally unnecessary if only sovereign governments have the courage to do what must be done, that is to tell these financial parasites to take a hike, and to create their own credit responsibly for all public works, infrastructure, and the like. Anything that is both physically possible and desirable should be made financially possible. As things stand, only what is financially possible and desirable can be brought about. With the caveat of war. While war is never desirable, no nation ever lost one because it ran out of money.

This publication may be read in conjunction with The Money Trick.

Sydenham,
London

March 25, 2013

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