The Cuts Explained In One Minute Forty-Nine Seconds

This is a short explanation of the current financial malaise; this video was uploaded in February 2011. The full text can be found below.

The backing track is a short piece of music called WATERMELON SHERBET. My apologies if it sounds terrible - it does - but I was never much of a guitarist, and this was only a home demo recorded way back in the late 1980s or early 1990s when I still had some inkling how to play the instrument. I should have used the Screaming Jets song FAT RICH CUNTS or better still the Show Of Hands track ARROGANCE, IGNORANCE AND GREED, but a) I needed something short and b) I didn't want to run into copyright issues.

Please check out my websites - and join the movement for financial reform: make a donation to ITMA or the CCMJ, or better still, shoot a banker!

The Cuts Explained In One Minute Forty-Nine Seconds

Approximately 97% of all the money in the world exists only as credit; it has no tangible existence.

This money has been created by the banks as figures in a book -- or nowadays, as blips in cyber-space.

Because it is created as an interest-bearing debt, it is irredeemable. For reasons that have nothing to do with the well-being of its citizens, the government borrows credit from the banks instead of creating it as has been done in the past by for example Abraham Lincoln and the Guernsey Parliament (The States).

Recently, the banks lost countless billions of this money that has no tangible existence by gambling on the derivatives markets, and were bailed out by the taxpayer -- you -- with no mandate, indeed with no consultation. This happened on both sides of the Atlantic.

Now there is a shortage of credit because the banks won't lend this thing that has no tangible existence to businesses or to governments unless they are able to repay these loans with REAL money.

In Britain, the Crown could create all the credit necessary for public works, but the Treaty of Maastricht forbids this.

Also, government economists claim it would be irresponsible to do this because such credit creation would cause inflation.

Inflation is said to be caused by too much money chasing too few goods.

Clearly there is not enough money in circulation -- because nobody has any except the banks.

But if the government creates it itself, there will be too much. Clearly, they want to have their cake and eat it.

Because the British Government and governments worldwide -- including the supposedly so mighty US Government -- are either unable or afraid to stand up to the banks, public services are being cut, the economy is grinding to a halt, and your children are being enslaved.

https://www.financialreform.info/