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June 2, 2018 | June 10 – Shocking Referendum on ‘Money Creation’ – Switzerland!

Donald B. Swenson: Born January 24, 1943, Roseau, Minnesota. Graduated H.S. 1961, Moorhead High, Minnesota. Graduated College 1968, Moorhead State University, Minnesota. Designated member of Appraisal Institute (MAI), 1974. Employed with Western Life Insurance Company, 1968 – 71; Iowa Securities Company, 1971 – 73; American Appraisal Company, 1974 – 81. Part-time teacher/valuation consultant/bartender, 1979 – 2008 (taught workshops at Waukesha County Technical Institute, Wi. and Madison Area Technical College, Wi.). Retired 2008 (part time teacher/blogger), AZ. Self educated economist/philosopher/theologian: http://kingdomecon.wordpress.com.

Direct democracy allows the Swiss people to initiate this referendum on money!

Every reader of this blog needs to purchase the June 2 – 3 edition of the Wall Street Journal. Go to page B-8, Finance, and read this article: “A Shocking Challenge to the Banking System”, by Brian Blackstone. The issue is: should commercial banks still be allowed to create money on the spot (out-of-nothing)? The Swiss are putting this issue to a VOTE on June 10, 2018 (less than two weeks hence). We need a similar initiative in America, Europe, and over the entire planet!

 

I, and others, have been writing about the money creation issue for years and finally the mighty Swiss (who allow a form of direct democracy) will focus on this issue via a referendum on June 10. We need to publicize this information (globally) as it goes to the heart of our current money problems on this planet. What happens today (globally) is that banks just create digital money units from their thinking (via a stroke of a computer key). This is absolutely corrupt IMO. But few are aware of what happens within banking as most have no education on money issues.

 

The Swiss referendum will highlight the issues of money creation to reveal to the public that money derives from nothing and technically does not ‘exist’ as a real thing/object from nature. The article reveals how money gets recorded on the books (after being electronically created) as a liability (for the bank) and also an asset (the loan to the borrower). The article states that this form of money is like ‘creating your own money and then going shopping with it’ (I agree).

 

Think about what our banks are doing. The solution (says the referendum) is to allow the Swiss Central Bank to create all money via loans and credit directly and exclusively. Commercial banks would need to obtain their loan funds from the Central Bank prior to making a loan. According to this logic, the electronic loan money would ‘exist’ as the Central Bank would be in control of all money creation and loan activity. The logic is partly valid but also not fully valid.

 

The basic understanding of how money gets created is the key issue for me. The teacher who is behind this referendum is called Hansruedi Weber. And the initiative is called the Vollgeld Initiative (in English this is equivalent to Sovereign Money). The article points out that some 87% of current money units in circulation (in Switzerland) are electronic units. Only some 13% of money units are paper notes (called cash). All this reveals that our banking system is now an electronic money machine located within cyberspace.

 

The Swiss referendum is not expected to pass as the public will likely vote it down. But the education which this provides is the key issue for me. Today, our digital/electronic money system is a corrupt system as the money units get created ‘out-of-nothing’ (the subjective mind of bankers). These units are derived from a bankers consciousness and they have NO material substance to them. The units are inner and within our subjective consciousness. Subjective money is not real money IMO (nor is it historical money).

 

Everyone who desires to understand what is happening today in our global markets needs to understand money…as it is being created by our bankers (mostly behind closed doors). I doubt that the bankers are fully aware of what they are doing. But the money creation system is totally corrupt and it favors the select few at the expense of the many. Today some 5% of all borrowers (the crony Capitalists) control 90% of our wealth. This is not Capitalism as we’ve known it. This is a dictatorship of the many.

 

People need to understand money and how it gets created. We also need to understand the history of money and the nature of money. Digital money creates a system where a few Central Banks rule over the entire financial system. Rulership behind closed doors via computers is the image of hold in your mind. This type of system enslaves the many and promotes global dictatorship of our citizens. Please take the time to purchase the June 2 -3, 2018, Wall Street Journal and then read this article. It’s eye opening!

 

The article is called A SHOCKING CHALLENGE TO THE BANKING SYSTEM (should banks be allowed to create money on the spot)? Also, the issue of what exists and what does not exist is relevant. Does a ‘digital’ money unit EXIST (say $1.00)? Where is it? Does a unit circulating within ‘cyberspace’ exist as a money unit or is this a mirage of the human mind? All this will become ‘up and center’ dialogue as people become educated on issues of money. Pass this missive on to everyone. Get the WSJ article! I am: https://kingdomecon.wordpress.com.

 

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June 2nd, 2018

Posted In: Kingdom Economics

One Comment

  • Avatar John Howell says:

    The article is accurate in what it says. What it does not say is that the present system executes a systematic transfer of wealth from the many to the few, from the lenders who create the money and lend it out at interest, to all the rest of us who use the money. Because the “money” is created as credit, i.e., as loans, interest is being paid to the bankers on virtually all the money in circulation and that money flows into the financial sector. It is no wonder that the financial sector seems to come out smelling like a rose under any economic conditions, good or bad. An equally damming corollary is that all new money, about $600 billion in recent years, but growing exponentially, flows to where ever the banks can profit by lending it. It doesn’t go toward infrastructure, education or healthcare. Meanwhile governments find themselves in austerity unable to meet their people’s needs. New money could and should be created by government to be used to serve the public, not to line the pockets of bankers. Lending is the appropriate business for bankers, but money creation is not. Let them lend what they actually have and stop creating money. For more, see “Why Money Creation is Central to Most of the Problems Faced by Society” (http://www.democracyovercorporations.org/The%20money%20booklet%20v4.pdf). Also see economist Joseph Huber’s website at http://www.sovereignmoney.eu.

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