Communism — “You Will Own Nothing and You will be Happy” — Who Will Control Central Control? — Cash Must Become King Again – [05-08-2022]

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THIS WEEK’S EDITORIAL

COMMUNISM — “YOU WILL OWN NOTHING AND YOU WILL BE HAPPY”: The World Economic Forum (WEF) is promising a future where “you will own nothing and you will be happy”. It is an old Communist dream. The leader of the WEF, Klaus Schwab, is making this promise, obscured by his now-familiar terms — “The Great Reset”, “the Fourth Industrial Revolution” and “Stakeholder Capitalism”. But it is far from capitalism and it is not revolutionary. In fact, it is a return to the past and Thomas More’s 500 year old dream of Utopia.

Thomas More was an English lawyer, judge, social philosopher, author, statesman and Renaissance humanist. He served Henry VIII (the Eighth) as Lord High Chancellor of England from October 1529 to May 1532. He wrote a book called Utopia, published in 1516, in which he described the political system of an imaginary island state — where everyone would be happy and where there would be no need for money.

More’s dreams of Utopia ended with decapitation but 300 years later they turned into the fevered dreams of a Frenchman, Charles Fourier in the early 19th century. His dreams became known as Fourierism and then Utopian Socialism. Fourier infected Karl Marx via his American acolyte, the newspaper publisher Horace Greeley (Marx’s employer) and the result was what we now call Marxist Socialism or Marxism — essentially a promise of Heaven on Earth — where you will own nothing and you will be happy. These ideas married to the dreams of the Eugenics movement infected Germany in the 1930’s via Adolf Hitler, the leader of a party that adopted the name The National Socialist Party. Hitler’s central banker was baptized by his parents with the name Hjalmar Horace Greeley Schacht.

In that imagined socialist Heaven, you will have no personal agency. You will not be able to exchange promises of trust between yourselves (the basis of credit). You will not even have control over your own body if the WEF transhumanists, such as Yuval Harari, have their way. The Controllers will have complete control over every aspect of your life – “for the common good”. That is always the promise and the lie. And it is always the road to servitude.

Over the last year, you may have heard this message — “You must have this experimental pharmaceutical product injected into you over and over again, for the common good”. The supposed threat was a “deadly” virus that managed to kill only 0.35 % of the people trapped on the Diamond Princess cruise ship in Japan in February 2020. Most of those people were elderly and frail but only 13 of the 3,711 onboard died, a death rate no worse than what is experienced in a bad Influenza outbreak. It was not an extraordinarily deadly threat and we knew that by March 2020.

The subsequent over-reactions by many governments and news outlets worldwide to the perceived “deadly” threat generated exaggerated fear, anxiety and then hysteria. These hyper fearful reactions were driven by an imperative of Public Health and Safety — another impossible dream, a new religion — “for the common good” — and Central Control inevitably became a key element of that.

WHO WILL CONTROL CENTRAL CONTROL?:  The World Economic Forum — WEF — is a private organization based in Geneva, Switzerland which holds an annual meeting in Davos every February. You can only attend by invitation. For some reason, Billionaires are preferred, flying in on their private jets. Workers are not invited. This is where the term “Davos Man” comes from. They are busy planning a world where you will own nothing.

Nobody is elected to office in the WEF. It is not a democracy. Klaus Schwab is the self-appointed leader. In that regard, it is similar to all communist governments and the European Commission (the EC). Nobody is elected to the European Commission either, the most senior and most powerful organization in the administration of the European Union. The President of the EC, Ursula Von De Leyen is appointed, not elected. She is the most powerful person in the EU but the citizens of Europe did not select her in any election process. The European Parliament, whose members are subject to election, is much lower in the power structure of the EU.

All the major Non-Government Organizations (NGOs) attached to the United Nations are also essentially non-democratic. These include the IMF, the World Bank, the WTO and the World Health Organization (WHO). None of the office bearers in those NGOs are elected by the citizens of member nations. They are essentially dictatorial Central Control and Command operations.

It is important to understand all of this because, in 2 weeks’ time on 22nd – 28th May, the World Health Organization (WHO) is planning to become the unelected Central Control and Command center for 194 nations, effectively replacing your government if and when the WHO unilaterally declares another “Pandemic emergency”. If your government agrees to this, you will be instantly controlled by the WHO in any such “Pandemic” declared by them. They will then have absolute power over you and your body. Beware and be aware.

That is the future being planned for us and sadly many national governments appear only too willing to agree to this. Dictatorial tyranny is close, very close.  Read more about this Proposed Future here:  Background: https://www.tni.org/en/article/world-economic-forum-a-history-and-analysis

Lots of Information on the WEF — Are WEF graduates and members Foreign Agents?
 https://maloneinstitute.org/wef  And a Warning from The World Council for Health — https://worldcouncilforhealth.org/news/2022/03/pandemic-treaty/45591/     And how America has achieved the Orwellian State of Animal Farm https://markmcdonaldmd.substack.com/p/from-animal-farm-to-1984

“The World Council for Health (WCH), a coalition of scientists, doctors, lawyers, and civil society advocacy organizations, opposes the World Health Organisation (WHO)’s moves to implement a power grab in the form of a global pandemic agreement.”

CASH MUST BECOME KING AGAIN:  There is a societal trend away from using cash in many advanced economies. Some foolish governments are even encouraging this. This is not a good trend. In fact, BOOM encourages as many people as possible to do the opposite and increase their use of cash.

Cash money is a great non-interest bearing buffer to the other form of money — interest bearing credit money. Because it does not cost the bearer any interest, cash provides a natural buffer to money that has interest costs attached.

Cash money is created by Treasury departments that are under the control of representative governments and the volume of cash created is in response to the volume of demand from all citizens. By contrast, credit money is created on bank ledgers when banks make new loans in response to demand from willing borrowers. Thus, its demand (and supply) is always skewed towards borrowers and more specifically, towards borrowers who already own assets that can be offered as collateral. Wealthy borrowers thus gain access to fresh new credit money before less wealthy borrowers or poor citizens gain access (if at all). This imbalance in opportunity becomes progressively worse if the cash component of the overall money supply progressively falls well below 50%.

In advanced economies today, the money supply is dangerously tilted in favor of credit money over cash money. In fact, credit money often makes up 95 – 98 % of the money supply, leaving only 2 – 5 % as cash.

Economies that become skewed this way towards credit money creation inevitably create more credit money for the already wealthy. This inevitably leads to societal inequality, social disharmony and eventual political instability as the rich become richer while the poor become poorer over time. If this continues for long enough, a small number of obscenely rich individuals will eventually own almost all the wealth of a society. Then they will meet (in Davos) to plan the future “for the common good”.

“Flashing the plastic” is convenient for day to day transactions but, ultimately, it is unwise because it tilts the money supply in favor of credit and away from cash. This must harm the non-wealthy in the long run and benefit the wealthy. There is one advanced economy where it is a little different.

Interestingly, in Germany, many people are suspicious of using debit and credit cards with most Germans carrying cash to settle their day to day purchases. This suspicion of bank issued cards probably stems from the fact that Germany has seen 6 national currencies come and go in the last 100 years. In other words, 5 currencies failed and were replaced. During such episodes of currency failure, there was huge economic turmoil with many bank failures.

If a nation’s money supply is either all cash or all credit, then the economy (and the society that supports it) will inevitably suffer. A mix of cash money and credit money is much better and, preferably, such a mix should tend towards a 50:50 ratio.

In the pure Communist system such as existed in the USSR, there was only cash money issued by central authorities. Private banks were banned and the money supply came only from the Central Planning Committee. This is an inefficient money system which cannot serve the people well over time or even the Central Planners themselves. In such a system, the Central Committee cannot possibly have any accurate idea of where the demand for extra money exists and how much money to apply to the economy as a whole or to certain regions or economic sectors.

Clever committees are a rarity in human affairs, especially clever committees of economists. Such a system is prone to ride waves of excessive money creation followed by droughts of money creation. This is no way to grow a healthy economic garden. It will inevitably result in mis-appropriation and, ultimately, in a general lack of productivity. The USSR collapsed after 70 years largely due to this weakness. The workers summed it all up in the saying — “we pretend to work and they pretend to pay us”.

BOOM encourages all readers to use cash more (much more) and to encourage everyone they know to do the same.

RUSSIAN RUBLE STILL RISING AGAINST US DOLLAR:  The Russian Ruble continued to strengthen against the US Dollar last week.

Meanwhile, there was a report that 10 European nations have now opened accounts at Gazprombank to pay for their Russian oil and gas either in Rubles or in Euros. Such payments bypass the SWIFT interbank messaging system based in Brussels and dominated by the United States. How? Because they are conducted inside the internal ledger of Gazprombank with Euro (or Ruble) funds lodged beforehand as deposits.

The Hungarian, Gergely Gulyas, who serves as Prime Minister Viktor Orban’s chief of staff was reported as saying “There are nine other countries using the same payment scheme, but because today the idea of being a good European also means that the leaders of those countries are not honest when speaking either in the international arena or to their own people, the other nine countries won’t say that they are doing the same thing”.

FRANCE NUCLEAR REACTORS OFFLINE:  While the European Commission is rushing to avoid using Russian oil and gas, we learn that half of France’s nuclear power plants are currently offline because of “maintenance or defects”. France is Europe’s largest net exporter of power. The genius European politicians have obviously not considered this in their quest to cut themselves off from Russia.

INDIAN SUPREME COURT DECISION:  The Supreme Court of India recently held that the central Government has the right to put restrictions on people’s rights as a public health safety measure. However, owing to “bodily integrity and personal autonomy”, under Article 21 of the Constitution no individual can be forced to get vaccinated. Most importantly, the Court based its decision on “emerging scientific opinion [that] appears to indicate that the risk of transmission of the virus from unvaccinated individuals is almost on par with that from vaccinated persons”. Therefore, vaccine mandates are not “proportionate”.

In economics, things work until they don’t. Until next week.  Make your own conclusions, do your own research.  BOOM does not offer investment advice.  SUBSCRIBE – FREE AT BOOMhttp://boomfinanceandeconomics.com/#/

CLICK HERE FOR PODCASTS:   OUR BRAVE NEW ECONOMIC WORLD

BANKS DON’T TAKE DEPOSITS, THEY BORROW YOUR MONEY: LOANS CREATE DEPOSITS — that is how almost all new money is created in the economy (by commercial banks making loans). https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy

Watch this short 15 minutes video and learn as Professor Richard Werner brilliantly explains how global banking systems really work. https://www.youtube.com/watch?v=EnC1UlnFLyI

AND Watch for 4 minutes, this Bank of England explanation: Money is essential to the workings of a modern economy, but its nature has varied substantially over time. This video describes what money is today. https://www.youtube.com/watch?v=ziTE32hiWdk

Most economists are unaware of this and even ignore the banking & finance sectors in their econometric models.  EMAIL: gerry {at} boomfinanceandeconomics.com

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Author: Austrian Peter

Peter J. Underwood is a retired international accountant and qualified humanistic counsellor living in Bruton, UK, with his wife, Yvonne. He pursued a career as an entrepreneur and business consultant, having founded several successful businesses in the UK and South Africa His latest Substack blog describes the African concept of Ubuntu - a system of localised community support using a gift economy model.

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Ghost
Ghost

I’ve been on the road again, meeting a new grandson, who arrived 6 weeks early 8 weeks ago and I am praying he continues to thrive in spite of what our evil world and national leaders intend for him.

Eight years ago, when this country (Obama et al) orchestrated a coup against an elected leader in Ukraine so the Biden family grift there could continue unabated, I was here supervising the construction of our retirement home. I’m sure I scanned the plethora of articles that were sure to have been posted here at the time, but somehow I was still of the mindset that is NATO was supporting it, it must be good. I don’t know why I thought that; NATO was just a good shopping TDY with good beer. But, allegiance to one’s military comrades is a strong tie that binds for a long time. I was looking at the world through the eyes of someone who worked in and around the MIC for many years, accepting many of the viewpoints necessary to justify making a living working for an industry that kills people and destroys buildings and homes if the products serve their intended purpose.

I know a lot better now.

Almost every conflict I was ever involved in had a covert element to it and, in retrospect, I realized our battle management role as a surveillance platform was more information gathering and data transfer via all sorts of communication links I am not going to discuss. The E-3 AWACS platform is almost obsolete, but from what I gather from limited sources, NATO is using them now in Poland and Romania. Orbiting ducks, in my opinion, provoking a bad response should they prove to be managing the battle instead of just talking about it.

Everyone seems to worry about the whole thing going nuclear, but I worry more about it going conventional, with our militarized police joining forces with federal government to wreak havoc upon the citizenry, especially those in conservative regions like my own.

The road between Missouri and Oklahoma as not as friendly as in February when my son and I travelled, honking happily at the truckdrivers driving in convoys then, supporting the Canooks!

Now, the driving is very aggressive, with trucks passing to avoid having to slow (gas mileage probably paramount now!) and no one seems friendly.

We offered to buy dinner ordered from a local restaurant and when my DIL asked how we would pay, I showed her a hundred dollar bill and two fifties and she said there was no option to pay with cash. I had to give my credit card number because cash was NOT an option; 90 bucks plus tip for three cheeseburgers, one chicken sandwich and a quesadilla from Chili’s. One big cookie for the autistic kid. And, it was all good but it wasn’t 90 dollars good, you know? And why am I tipping a waitstaff if I’m picking it up? Habitual money spending, isn’t it?

I came home with almost all my cash because it really is a lot more convenient to just use the plastic. Another bad habit forced upon us.

Anyway, am just giving a few observations made on a road trip this past weekend and think this country is in for a very rough ride, as is yours Peter.

My neighbor’s daughter came over and washed my dirty dishes and swept my floor and I paid her 5 dollars and tipped her a 1944 Mercury dime.

I’m a cheap boss but a great tipper.

ursel doran
ursel doran

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