Empire and Capitalism, two different sides of the same exploitative coin.

The badge of the Colony of Jamaica till 1962. Motto: Indus Uterque Serviet Uni translates to “The two Indians will serve as one”.

With a few examples I hope to begin to convince you that European based empires and Capitalism went hand in hand. Columbus began Spanish based colonisation in 1492 by making landfall in the Bahamas. The area was named the West Indies and inhabited by “Indians” as the Europeans believed they had landed on the coast of India. Da Gama began Portuguese based colonisation in 1498 after rounding Africa and landing in Calicut, India. Both had been given instructions to find the origin of the lucrative spice trade, take it over and to also find sources of gold and silver. The British feudalist based hierarchy having begun empire building by invading Ireland in the 1500s craved its expansion. They arrived relatively late to global empire but they were the instigators of the first joint-stock companies to exploit foreign lands, the foundation of Capitalism (privatisation of production for profit). The private powers with in France and the Netherlands also used companies within their empires but I shall concentrate on Britain as it became the largest empire.

One of the earliest examples “The East India Company received a Royal Charter from Queen Elizabeth I on 31 December 1600. In the late 18th century, the EIC, contravening Chinese laws, began smuggling Indian opium to China through various means, and became the leading suppliers by 1773”. This heinous crime was to compensate for the outflow of silver from Europe due to the high demand for Chinese goods. When Chinese authorities attempted to stop this the British government went on the attack with “gunboat diplomacy”, resulting in the Opium wars of the 1800’s which China lost. China was forced to pay 21 million silver taels as an indemnity, which was used to pay compensation for the European and US traders’ opium destroyed and ever since has been in debt to Western based financiers. Not to mention the fact, that it was through this company which was allowed to have its own private army and to tax, Britain went on to rule India and cause its partition.


Another example was the Royal African Company set up in 1660 by the royal Stuart family and City of London merchants. It was granted a monopoly over English trade along the West coast of Africa, with the principal objective being the search for gold. Millions of native Americans had died, in what some say is the biggest genocide in known human history. As a result there was a shortage of labour required for the European based coffee, sugar, cotton plantations, gold and silver mines etc. The Portuguese had already begun the Atlantic slave trade but the British could see the profit that could be made and so In 1663 a new charter was obtained which permitted the trade in slaves. With the help of the army and navy, it established forts on the West African coast that served as staging and trading stations, and was responsible for seizing any English ships that attempted to operate in violation of the company’s monopoly. In the 1680s the Company was transporting about 5,000 slaves a year to markets primarily in the Caribbean across the Atlantic. Many were branded with the letters “DY”, for its Governor, the Duke of York, who succeeded his brother on the throne in 1685, becoming King James II. Other slaves were branded with the company’s initials, RAC, on their chests. Current estimates are that about 12 million to 12.8 million Africans were shipped across the Atlantic over a span of 400 years, although the number purchased by the traders was considerably higher, as the passage had a high death rate.


The bank is not seen by the public as a company but some special entity that appears life cannot function without. However The Bank of England “was privately owned by stockholders from its foundation in 1694… to act as the English Governments’s banker”. Upon incorporation the largest stockholder was the then King, William III and along with the other stockholders its aim was to profit from English ambitions of empire by rebuilding the navy to fight other European based empires and establish its own colonies. It initially loaned the government £1.2 million at 8% but its charter was renewed, the profiteering continued and to this day is still an institution through which our financial based lives are governed.


A couple of more recent examples that you most likely have never heard about. In 1953 after democratically-elected Mossadegh had attempted to nationalise Iranian oil infrastructure a coup “was orchestrated by CIA under the code-name ‘Operation Ajax’, and by SIS (MI6) as ‘Operation Boot’… On 21 December 1953, Mosaddegh was sentenced three years’ solitary confinement in a military prison… He was then kept under house arrest at his Ahmadabad residence, until his death on 5 March 1967”. In 1954 with a pro-Western Shah and the new pro-Western Prime Minister installed the private Anglo-Persian Oil Company was renamed to the British Petroleum Company (BP) and resumed its profiting of Iranian oil.


Kenya is another example which is where my dad was born. British colonisation began upon the arrival of the Imperial British East Africa Company in 1888. They had the “right to raise taxes, impose custom duties, administer justice, make treaties and otherwise act as the government of the area”. You see when they impose a tax upon people, the only way you can pay it is if you work for the invaders who have that particular coin. By enforcing it through violence and “law” eventually it is accepted and they have the labour they require, us, this has always been the real reason for taxation, not redistribution of “wealth”. Indians were brought in from British India as indentured “skilled” labour to build railways through native lands. This was resisted by some tribes, who after putting up resistance for some years were finally subdued and forced into a “native reserve”. During the 1950’s the Mau Mau Uprisings began during which the British army tortured and killed thousands of people and relocated many more into concentration camps. We are led to believe they gained “independence” from the British Empire in 1963, but in fact a puppet president, Kenyatta was “elected”. His economic policy was capitalist which allowed Unilver (A huge British-Dutch Company) to maintain its claim on Kenya’s most fertile lands to profit from cheap labour grown tea. This is where huge amounts of our tea is grown. The workers (who work longer hours and harder than us) get paid in a local currency (shilling) that has minimal purchasing power but as their lives are monetised and lands privatised this is all they have. So much for Capitalism’s “if you work hard enough you get what you want”.




In Victorian times the “argument used by the wealthier sections of society went like this – why should we help people who are too lazy to help themselves”. This applied to the poor masses in England aswell as its colonies. This translated to if you are not willing to exploit your fellow man and be part of Capitalism then you will remain poor.


Fast forward to today and all that has happened is western workers have become assimilated into the private land, production and money lending system. With a combination of an “education” and media that whitewashes the Empire (the term colonisation substituted by exploration), being isolated from destructive production methods and having forgotten their past now see nothing wrong with Capitalism. In fact it is the poor masses of the world that you will find work the hardest and longest hours and are still subject to its horrors. Each debt based consumer just acts as a proxy for wealth (human time, energy and resource) transfer to the very few that own global production, in 2019 according to Forbes there being just 2153 billionaires globally within a population of 7bn and 3bn living on just $2.5 a day.

So in summary the Feudalists or landed gentry set up a system, Capitalism, where they could sit back and impose a claim on global resource (“wealth”) by being share/stockholders. The merchants who run the companies need labour and over the centuries this has been met through a combination of slavery, indentured and now willing labour. By privatising lands in Europe and then globally this prevented access to basic human needs (food, water, materials for shelter), creating mass poverty. By forcing the masses to exchange their labour for money and therefore now gain some access to the produce of that land, it appears Capitalism is solving the very poverty it created! In the west violence has been replaced by propaganda and we are now manipulated without knowing it to love our masters.

All I ask people is to question their society, why is it the pound, dollar and euro have huge amounts of purchasing power and other currencies don’t? It allows the Western masses to buy goods and services way beyond their needs made of global resource (eg. multiple cars and go on multiple holidays), the exact opposite experience of the world’s majority. The fact that we still live in a globally privatised world which was the primary way empire forced its will on the masses shows that “independence” never happened and the empires are still with us. The private powers primarily use the US state with its secret services and armed forces, closely followed by UK, Europe and other puppet states. In no way am I saying the likes of the Russian and Chinese states are the “good guys”, the heart of their societies being exactly the same exploitative systems. The world exists in an entangled web of deceit and death together.

We need demonetisation and deprivatisation to occur. We need members of our society to work for each other, so everyone contributes as a sense of duty with no external material based reward required. We need ideas to be shared not patented and sold to only those who can afford it. Equality is not some alien ideal, read some history, look at your own past. Its not about giving people a free ride, its about realising that everyone’s time and energy should be valued equally in a just society. Peace.

Response to GreatestTruthNeverTold

I have seen many of your videos and agree with many of your views but we are a social species, not solitary like tigers. We need each other to survive, we all have a responsibility to work together in communities to provide the basic needs of all, which for me are the maintenance of food, water, shelter and health. If everyone contributed some of their working week to these then we could all have a share with no need to exchange money. The rest of the week could be spent on what makes you an individual, be that music, sport, making something, spiritual pursuits etc.

What makes you think that someone else should provide these basic needs for you while you pursue earthly material pleasures, are you worth more to society than another person? The European feudalists certainly thought so and the first act of William the Conqueror in 1067 was to declare that every acre of land in England now belonged to the monarch. As no human can live without land it forced the masses to become subservient to the landlords. Over centuries this was enforced through mass violence, tax laws and the “blessings” of the church who provided the monarch the “divine right to rule”. Over time they became more greedy, wanting Eastern spices, clothing and goods and more land. Both needed increased access to silver and/or gold based coin to pay merchants and hire mercenaries for armies. In fact William the Conqueror invited jews to England and the area in London became known as the “Old Jewry”, they provided the debt for the Royal’s rule using death. They eventually expanded their rule globally through Imperialism and invented the Company through which they privately own global production (Capitalism). The debt and death paradigm as you aptly describe our system has been with us for centuries.

The notion that humanity is greedy is a false one, for centuries 99% were peasants who then became industrial workers and throughout had to make do on very little. Material abundance was only for the “upper” class. The working classes were revolting in the late 1800s to early 1900s and had enough of private rule, they wanted equality. This is where the Socialist movements came from and its why its so demonised in the Western press. They also funded the Bolshevik Revolution (Wall Street and the Bolshevik Revoltion by Antony C. Sutton), called it Communist and then allowed a dictator to go on a killing spree. Its only since post WW2 that mass consumption has been pushed onto the European and US working classes. Thats because Capitalists need consumers for their profits and lenders get their debt repayments and therefore continued wealth, power and status. The masses now believe they are rich, most have a house, fancy car, go on multiple holidays etc and therefore love their rulers (without seeing as being ruled, because apparently this is democracy) but are massively in debt. This would predictably prevent people from seeing an alternative way of life. However we are now contributing to the pillaging of lands around the world by our manipulated greed. Our fellow workers are committing suicide, its destroying environments and polluting our world.

This is why the Capitalist notion of abundance for all cannot be. We can all consume but it must be sustainable and thats what many communities of the past realised. They didn’t have money, they shared their produce, they may not have had all these gadgets but there was community. It comes down to how do you want to live, are we really in this universe to just consume at whatever moral cost?

The controlled collapse of mass consumption based Capitalism

We are at a crossroads in human history. Before this the most significant transition was when the hierarchy began to solely derive their power from monetised global private production (Capitalism) as opposed to local Feudalism. They forced the masses into industrialised centres and caused huge amounts of poverty, suffering and death.

The graph above shows the Fed is ramping up interest rates after the usual period of encouraged borrowing, purposely inducing the next recession. Previous recessions are highlighted by the grey columns, post rate increase. However this time with private, government and corporate debt at massive levels this will lead to fundamental change!

What is driving this change?

courtesy of https://philosophyofmetrics.com/history-of-world-reserve-currencies/
  • The architects who financed the countless European based wars throughout the ages after having enriched themselves, had then managed to jump ship to the next power when the nation/royalty/hierarchy had become too indebted or they to went down with the ship. A historic example being the “Edict of Expulsion” in 1290, expelling the money lending Jews from England only to be replaced by the apparent “moral” Christian Peruzzi and Bardi usurers who had access to gold coins known as Florins which had the purchasing power the European hierarchy required for war. Unfortunately for the European masses the greed of King Edward III and other private owning individuals caused a financial crash. As various European based nations began to set their sights on the take over of the lucrative spice trade through a combination of extreme violence, bribes and tariffs, private money lenders saw their chance again. A look at the history of global reserve currency gives an indication which empire controlled the majority of trade at the time. With each transition ending in a huge war(s) where millions die before the system is reset and it starts all over again. Where the financing actually comes from is another story and the notion that in a monetised world even a sovereign state cannot function without private domestic and foreign financing is not recognised by 99%. They just believe their own government prints money, no, its all borrowed and has to be paid back with interest! Currently the US Dollar has been forced onto the world as the reserve fiat currency for trade such as oil and many other commodities. Nations must then produce goods that can be exchanged directly for dollars and are at the whim of exchange rates and so can easily be controlled by hidden financial lenders. This system being backed by a military with the largest budget of $610 billion, which is far more significant than its closest rival China at $216 billion and is (actually larger than the next nine countries combined). However the debt attached to this currency is becoming more and more unserviceable for many nations, hence hyperinflation in Argentina and Turkey etc. So is that time coming again where the current private owners of the money lending system the IMF want to change the currency to a new one, perhaps a global currency?
  • With human, ecological and environmental exploitation reaching its peak, have the private global owners realised that the extremely polluted world can no longer sustain this current system and intend to collapse it. However it will be done in such a way that governments will tell us we were only following what voters wanted eg. Brexit, US-China trade war. With so many right wing extremist governments being voted in, its only time that the world will be at war but one like no other before, where there may be civil wars everywhere as trade collapses and everyone fights over what is left to survive on. The question is how the rulers will survive this? Don’t forget these dynasties have survived 2 previous world wars and countless more so i’m sure they have plans.
  • Last but not least this is a bit out there but the story of the formation and expansion of Israel could be a factor. At the height of World War 1 in 1917 when millions were dying, The British Empire decided to make the Balfour Declaration stating that the Zionists should be granted land in Palestine. Odd considering the history of Jewish hatred in Europe and US perpetuated from the very top to the masses. The following 100 years has seen this tiny area continue to have huge backing from European and US powers and its current leader, Netanyahu is stoking the fire with Iran. Is it all in the plan? The existence of Israel is important not only to Judaism but also to fulfill Christian and Islamic prophecy (maybe a reason for Saudi support?) All require an apocolyptic/armageddon event where non-believers are wiped out! Whether those preaching a religion believe it or not, it has always been a way to control the masses into obedience and war against other peoples.

Whatever the reason we have an insane scenario where governments that apparently now represent the masses still uphold a system that is deliberately and periodically crashed. Even the Western based masses whose purchasing power was artificially increased post WW2 via fiat currency to provide the buyers necessary for the debt-based Capitalist system are now seeing this reversed. The private owners of the world have used propaganda on a mass scale to distract, deceive and divide the working masses into thinking private ownership in the hands of the very few through death was/still is good for everyone. All I know is that the future looks bleak unless enough wake up and take control in an organised way through communal ownership, sustainable consumption and where we all contribute in part to the basic human needs of all and then once that is in place we can decide how human society progresses.

Thanks for reading


The role of Money


This is the third post in the “the role of…” series and perhaps I should have written this first as its the key to everything.

If you happen to live in a part of the world or society where you have reasonable access to a currency with sufficient buying power to meet your needs and wants then your outlook on the monetary system will be a positive one. However throughout history until very recent times (post world war 2) the majority of people in this world did not have this kind of access. Even now 50% live on just $2.50 per day and 22000 children die each day due to poverty. I ask myself why?

What I have come to realise is considering that this system dictates every aspect of all of our lives, people have little knowledge of it. it’s not surprising as very little is taught in mainstream education and what is taught is a misleading view. There is so much jargon surrounding it that most people are confused, put off and just accept that if they go to work money will appear in their bank account which they can spend. I was certainly in that boat until very recently but now I have become immensely critical of the very system that people believe is the key to their standard of living. I will attempt to explain this stance by looking back at history and why this system is not what it seems by addressing the following questions:

  • What is money?
  • What is it used for?
  • Where does/did it come from?
  • Do we actually need it?

So what is money? Economic historians state that money came about as a medium of exchange, to overcome the disadvantages of bartering such as a “coincidence of wants“.

However history shows us that in our hierarchical world the elite have forced the majority to work for them whether they were chattel slaves or peasants/working classes. A combination of violence, religion, law and money or the lack there of were some of the major weapons wielded.

Two incredibly important areas have been defined by money:

  1. Human needs such as land, food, water, housing, clothing, health care and energy.
  2. Taxation payments (historically the main purpose of which was war).

The only way to satisfy these requirements is to work for the elites who created companies that exchange our labour for money. Therefore we are forever in their debt, money represents control over the masses.

Types of money that have existed are:

  1. Commodity (metallic coins)
  2. Representative (paper notes that represented a commodity standard)
  3. Fiat (Latin for “let it be done”, coins, paper, electronic and digital, but represents no commodity eg. gold)

This debt-based monetary system was standardised by the advent of the bank. The one that stands out in history and became the foundation of the largest empire the world has ever seen is the Bank of England. It came into existence on the 27th July 1694 as a private joint-stock company via the granting of a Royal Charter by King William III in order to fund the war against the French Empire. The Bank was created to raise £1.2 million at 8% interest. This meant we had a bunch of financiers/speculators that wanted to see if they could increase their wealth through war; violence, murder and death. If successful in this battle the British elite would gain more control of world resource. A monetary system in a symbiotic relationship with a capitalist system, both as immoral as each other. Who would pay for this? Through the blood, sweat and tears of millions of native Americans, Africans, Indians, Aborigines and many others. However it would also be through the native British who also lived in terrible conditions throughout the times of the British Empire. Unfortunately this is lost to history, where millions of us are now told to be proud of the countless wars fought in the name of the Empire and be proud of the Capitalist Industrial Revolution powered by tens of thousands of child slaves. Now huge numbers contribute to the upkeep of huge manor houses that were built during these times of mass poverty by visiting them. What does this say about the morals of the elite and their attitude towards their fellow human being?

Gold and Silver based monetary standards were widely used in the European empires as traditionally the elite saw these metals as precious and controllable. The issue arose when trying to increase their own money stock as the elite had to continually source mines, mint coins and if this failed then begin to debase them. Representative money was introduced by issuing paper notes that represented an amount of gold in a bank that as the holder you could redeem against. The issue arose when a bank reduced its reserve requirements, a bank lent out more than they had in commodity reserves and a bank run ensued where they couldn’t redeem all the paper notes. However a bank has the same objectives as any other capitalist company, generate as large a profit as possible by reducing its costs and selling more. For a bank that is reducing money production costs and increase lending. Once the technology arrived electronic fiat money was conceived where there was no expense in producing it. It’s just digits on a screen, but the purpose is the same. Lower classes still require it to live! Lending it became the next hurdle, how would the lower classes pay the elite back? Wages were increased in designated consumer countries through service industry jobs but operations that require a large workforce were sent to cheap labour countries. It was not just private lending that saw huge increases so did government national lending. Taxation would be increased to pay the national debt but the elite have no care in paying this so the concept of offshore secrecy solved that which the City of London duly applied. Therefore the tax burden fell on the lower classes.

You could argue that times have changed, we have democracy now, granted independence to the former colonies and the majority in Europe and the US live comfortably. Hurrah to the elites they have changed their spots! But have they? The US is no shining beacon of democracy and having installed the same monetary system has now taken over the role of the British Empire. We still have a world where a now global financial system supports a global capitalist system dominated by a few banks. All that matters to the elite is if the lower classes are still working for them via this system. Generating money to pay off previous debt can only be taken so far until the world cannot sustain the output.

So do we need money which is proportional to war, resource stripping, environmental destruction, animal cruelty, human slavery and the loss of huge amounts of time and energy to the goals of capitalism? No we don’t! This notion that an increased monetary return on monetary investment must be replaced. What we need are people working together in institutions whose purpose are to meet the basic human needs of us all in a sustainable manner. We have all been infected by capitalist ideals that has spread individualism to an extreme. We need to view our fellow man as equal no matter what colour, creed, religion or class. We need to make a stand together against this monetary system or divisive elitist politics will pull this world apart once more! I believe it has to take place outside of government and one solution that may sound extreme and nuts but suggested by 2 professors who wrote “Debt as Power” was for everyone to not pay a mortgage instalment for one month! That would send a clear message that the people have had enough of this immoral system of debt! I think until a politician suggests the abolishment of the present banking and capitalist system then we have to find a solution that bypasses the voting booth. An absolutely inspiring demonstration of this was Gandhiji’s Salt March. It sums up the continual struggle of true freedom against the elitist agenda! I’m not a Christian but the one time Jesus displays aggression in the Bible is when he cleanses the temple of the money changers. It’s a recurring theme throughout history that the use of money to gain from the weak is seen as unjust. I believe this is going to require a fundamental paradigm shift where we have to curb our manipulated obsession with materialism by pursuing a more spiritual philosophy.

The role of Quantitative Easing

This post is part of “The role of…” series that I am writing to describe an immoral and unstable monetary system that drives all human activity to service debt. This post will highlight a key process used to currently prop it up.

Quantitative Easing (QE) has been implemented by 4 of the world’s most prominent central banks (FED, BoE, ECB, BoJ) since the economic crash in 2008. But what is it? A common misconception is simply the government prints bank notes and uses it somehow. Mainstream media attempt to explain it as pumping money directly into the financial system to encourage lending. The Bank of England whose laughable motto is “Promoting the good of the people of the United Kingdom by maintaining monetary and financial stability” describe it in slightly more detail:

  1. QE is a tool used by our Monetary Policy Committee (MPC), where the Bank purchases assets such as gilts or corporate bonds.
  2. QE operations are carried out by the Asset Purchase Facility, and are financed by creating central bank reserves.
  3. The aim is to boost economic activity, keeping the UK on track to meet the Government’s 2% inflation target.

Below is a chart that I composed via data published by a UK government department called the Debt Management Office (DMO). It shows the huge purchase of government gilts/bonds (debt) by the BoE beginning in 2009 Q1 as shown by the light blue line. To date this currently totals £435bn!


The following options are available to financiers to achieve their goal of debt collection via the monetary system:

  1. Lend more but demand austerity.
  2. Do not lend more and take the assets.
  3. Suspend/Write off debt but demand austerity.

I shall expand on this further on a future post, “The role of Money”.

So its time to explain my take on QE. Does QE reflect any of the 3 options above? Option 2 does not seem to be the case. Option 1 seems close, central banks after all are lenders of last restort and to date it seems that they have lent the government money by purchasing their debt. We have then been told by our government that austerity (massive cuts in public services) has to be implemented because we as a nation have been living beyond our means, spending more than we can afford. However the aim of QE as stated by the BoE is to “boost economic activity” which basically means they want an increase in spending, that is a massive contradiction! However as explained in another post money is produced as debt plus interest the only way existing debt can be serviced is with future debt (spending). Its the sole reason why our governments require economic growth!

Option 3 has not been suggested in the media, however the following links suggest a portion of debt payments have been suspended.

  1. when you drill down into the accounts you find out it is!!!!!!!!
  2. Richard Duncan (economist) explains QE debt suspension/cancellation here.
  3. interest payments to BoE held bonds are being paid back to the government.

Let me explain the above. As a result of QE we are in a nonsensical position where a government body, the BoE has purchased a mixture of existing and newly issued government debt totaling 20% of current debt. Essentially the uk government owes itself £435bn! By this action they are stating to investors that the UK government cannot service this debt (pay the interest and potentially principal). The BoE has in affect suspended £435bn of debt, interest payments are being paid back to the government. Total cancellation will only occur if upon debt maturity the principal is not demanded back, now the question is will that happen?

How does the government service its debt? Through further borrowing and taxation, which the people have to pay via the capitalist system. One way is via income tax. So essentially government debt is actually another form of the people’s debt, we all have to attempt to pay it off! The financiers are therefore conceding that this process of stripping the Earth of vital resource to be manufactured and sold cannot create enough debt to service previous debt! Far from being a sovereign debt crisis just in Greece its all over the world. This debt suspension has been applied to the US, Europe and Japan to. Unfortunately the same process has not been applied to all countries and instead further loans have been forced on countries by the IMF.

If this is made clear to the public and the resulting implications set out below then the consequences of this on the corrupt financial elite could be massive.

  1. This is an admission the system is massively broken, there is no way that debt can be serviced by the people under this capitalist and monetary system.
  2. I assume when the bond matures the principal will not be paid back either. If huge percentages of debts of the richest governments can be wiped away just like that why can’t this be done for the poorest who have not a chance in hell of paying back IMF/World Bank loans. Also why do we require austerity then?
  3. In effect interest free money (and potentially completely debt free) has been pumped into the system in an attempt to stabilise an inherently unstable system. (Has this ever happened in history? where money is now electronic fiat this can easily be done. It doesn’t require stealing, digging out of the ground, minting or printing any more.)
  4. After huge amounts of money creation high inflation/hyperinflation under conventionally taught economics is a natural consequence. This has not happened in the West, why? Huge amounts have been invested in the stock markets which should mean an increase in wages which would lead to more borrowing and higher inflation but this has not happened so what has it been used for? Was the QE money used to pay towards previous debt and now held in secret offshore bank accounts by the creditors?
  5. Pension funds may seem fine now but as they are now invested in riskier areas the next financial bust will make the black hole even larger than before. Potentially unpluggable!

Along with QE, interest rates have been slashed causing lower mortgage payments but people think instead of saving, lets spend! Its the capitalist message that has infected and created this materialist consumer world, you only live once so buy something now that will make you happy! Just remember money has to move up the chain to eventually pay interest, that’s the only reason you are required to spend!

So to conclude QE is just a stop gap until another crisis hits and potentially a new monetary system is ushered in just as Bretton Woods was imposed while thousands were dying during World War II or the Petrodollar system post the 1973 oil crisis.

The role of Interest

In today’s society the charging of interest seems to be nothing out of the ordinary. Reasons given may be:

  • A bank must risk their hard earned capital on debtors who may not be able to pay back the principal.
  • A bank has to use the interest charged on loans to pay the interest on savings accounts.
  • A bank could be investing in other areas so they must charge us interest as a “usage fee”

However did you know that the charging of interest has been a hugely contentious issue and been debated over for centuries. Historically it was referred to as Usury.

Our world monetary system is debt based. 97% our money is created by banks as interest bearing loans (debt). The Bank of England admit that basically all money in existence is a debt! There is a not so obvious major fundamental flaw with this. For instance if a bank creates £100 and charges 10% per annum and wants it repaying in 1 year then the debtor requires £110. But how is the extra £10 repaid? Well it must come from another debt. However how is this second debt repaid? it to must come from another debt and so on ad infinitum! Therefore mathematically it is impossible to pay back all the debt even if all the vast reserves of money sitting in secret and offshore bank accounts were available. Our monetary system is dependent on nations, corporations and people borrowing and spending forever, in effect a giant pyramid scheme! Additionally if debt is not produced at a sufficient rate to service existing debt then this leads time and again to an economic crash. Debt will only ever increase unless it is written off.

The graph below illustrates the massive contradiction where supposedly the world has never been richer materially or financially in all of history but this is trumped by the fact we have never been in more debt either, approximately 300% World GDP! The US national debt is currently at $20 trillion, personal debt $18 trillion and corporate debt $8 trillion!


Imagine if you have a controlling stake in these banks, you make massive profits while the world economy is growing as interest payments are made. However in times of recession, which history indicates are inevitable and banks stop lending then as most loans are secured against assets they can take these over! People lose homes and businesses as they cannot pay back the interest on debts and nations made to implement “austerity measures”.

So banks make their profits from nations spending and consuming more this year than the previous. More commonly known as “economic growth”. Now in order for people to spend, money is required and this is derived from corporate income. However their income is reliant on people spending but they cannot spend without money. It’s the chicken and egg problem, what came first? Well in the distant past a few people on behalf of a nation borrowed money to go to war to set Capitalism up to control the spice, sugar, cotton, slave and other trades. The system of banks lending to capitalists was born and over a period of several hundred years violently spread all over the world. The world’s population has been paying back this debt ever since! In fact for several hundred years the main contributor to national debt was war, even now we spend huge amounts on it.

Servicing debt is a key factor in driving Capitalism! What does this actually mean? finite world resources are continually extracted, environmental habitats are destroyed, people have to produce more cash crops, clothing and other goods from far flung lands to provide for the consumers of the world (The 12 percent of the world’s population that lives in North America and Western Europe accounts for 60 percent of private consumption spending). This leads to masses of consumption waste that causes further environmental damage and potentially a source of human illness. It also leads to mass inequality where the majority of the world have to provide for the few (which are us in the west currently).

You cannot bypass this system as taxation is demanded in currency created by these banks and all human needs and wants are also denominated in this currency! It’s the fundamental reason why we must all work, to service personal, corporate and national debts. Our governments have demonstrated time after time they have no will in wrestling this power away from the financial elites. As I eluded to before when you read history they were the ones that passed Acts to set this system up in the first place. The charging of interest has allowed for massive wealth and time transfer to the financial elite, they care not for social responsibility or believe they should work (taint of trade) but simply enjoy the pleasures of life.

I hope I have logically shown how our monetary system collapses if we don’t continue to borrow and spend. How have they convinced us to spend? Well the recurring theme in corporate advertising is that true happiness is derived from the consumption of their produced goods and services. However once you realise how much pain and suffering is inflicted on people, animals and the environment as a result of this process, this simply cannot be the case. We as consumers especially in the West may find this very difficult to comprehend but try to imagine how difficult life would be if you could not pay your mortgage or a loan. This is the case for the vast majority of the world who have to borrow just to survive but don’t have the adequate income to service it or have to work in terrible conditions to have a chance. They are forced into becoming part of the capitalist process, for instance working in a sweat factory that produce the goods we buy and thereby forsaking traditional ways of living. I advocate a system where responsibility, sustainability and equality is at the very core. I am convinced this unseen debt slavery has been the fight for countless generations and will be for future ones unless we the people make a stand now!



Divisive politics

So with all the divisive politics being spread within the so called democratic world, as a concerned citizen and parent I thought I’d share a quote from Albert Einstein

“I am by heritage a Jew, by citizenship a Swiss, and by makeup a human being, and only a human being, without any special attachment to any state or national entity whatsoever.”

He wrote this in a letter post world war 1 when you would have thought patriotism and maybe hate would be running through his veins. But no.

I’m not saying you shouldn’t be proud of where you’re from but unfortunately governments use nationalism all the time to keep the people of the world divided. It keeps populations distracted away from the real issue especially in times of economic hardship and war.

No matter colour, creed or religion we all require the same basic resources of shelter, food and water which allows us to live. A UN study stated that 86% of the world’s resources are consumed by the world’s wealthiest 20%. This stat leads to the conclusion that you must have sufficient money to be able to live a dignified life. This is what leads to huge movements of people to countries that have access to money and therefore resources.

Therefore who controls world resources ultimately controls people and wealth. A study done by James Glattfelder a physicist working at the department of Banking and Finance at the University of Zurich points to who has this control

Its the global privatisation of resource and money supply that really needs looking at. Peace

History repeating itself over and over again…

I have always had an interest in real world issues such as politics, poverty and war. A couple of years ago I began reading much more on these topics but this year it has developed into a real passion. It has opened my eyes up tremendously. 

I began to read about the origins and you soon realise that there is a continual economic war between the elites of empires spanning hundreds of years with all sides using the similar policies to control us:

  • Divide and rule. Even though people of the world have essentially the same needs and wants and would happily coexist the elite use religious, racial and economic differences to insight hatred and fear among us, thus distracting us from the real cause of injustice, namely them.
  • Force and rule. The elite have paid off armed and police forces to quell any protests.
  • “Democracy”, perceived wealth and rule. They have convinced us that we have power via a vote and provided credit to masses to buy stuff. This is the cheapest way to prevent rebellion and then public on the whole trust government. However any policy that affects wealth is completely out of our hands, it’s made by a government who look after elite interests. History tells you it’s always been like that.

When the elite go to war their hidden agenda is always to do with economic interests. It’s never what the mainstream media portrays. The elite will convince you to fight and die for your country but you are fighting to increase or maintain their “wealth”. Remember it’s the lives of ordinary families on both sides that are destroyed by war.

At present the 99% are not allowed to learn from the past. They have been distracted and convinced that consumerism (drives world trade and elite wealth) will fulfill all their fantasies. However generation after generation the moneylending elite continually use the same tactics to fund wars or some sort of market bubble which eventually will lead to an additional wealth and power transfer to them.

Here goes!

After several years of questioning the socioeconomic framework that underpins the foundations of my way of life, I am attempting to blog about it. Whether anyone reads this or finds it interesting is another matter but I just need to get these ideas out of my head and written down.

After much reading my distrust and questioning of this now world system comes from this:

  • Some of the wealthiest families and the organisations/corporations/banks they run today made their profits on the back of human exploitation during the European empires. What they value above all else is wealth which in today’s supposed democratic world still allows them control of people, finance and resources.
  • During the 400-500 years of the European empires, there was the murder of millions of indigenous peoples, human slavery and environmental costs all in the name of profit.
  • What many people fail to realise was that royalty all over Europe allowed investors to setup companies (eg. East India Companies, the birth of the multi/trans-national corporation) to exploit these new lands and the people living in them. Another crucial point that should strike a cord in all of us is that during these extremely prosperous years for the empires the majority of Europeans lived very poor lives. The elite did not share this new found wealth with their own people! This is why I get so angry when I hear of nationalist pride of the European empires from working-class people, which I consider myself to be part of.
  • Why after hundreds of years did these companies who sold their products to a relatively few wealthy people in the world start including us in their business plans? Remember this began only a relatively short time ago but it has allowed for even more profit! It has resulted in modern day mass consumerism, which we are all addicted to without knowing but this has allowed the vicious resource-stripping of poorer “independent” countries to continue and actually increase.
  • Empires no longer exist in the traditional sense but the majority of resource-control which is what empires are all about are in the hands of a relatively few European/American corporations/banks.
  • We all have to work but the reason why we work is to generate profit for a corporation and its investors, not to progress humanity in a constructive and environmentally sustainable way.
  • Remember profit, profit and even more profit is all these people care about. This is no exaggeration they will literally kill for it! This is why I have started to question my way of life and you should to. We working-class worldwide should stand as one to change the system.

I will expand on all the above points in future posts. Thank you for reading.