The British government are commonly praised for passing the Slavery Abolition Act in 1833. European imposed slavery had resulted in the transportation of millions of Africans to labour in plantations setup within new found European colonies in the Americas, West Indies and Asia.
Now what is not more commonly known is what happened next.
Slave owners (not slaves) were compensated by the British government. “The Act provided for payments to slave-owners. The amount of money to be spent on the payments was set at “the Sum of Twenty Million Pounds Sterling”. Under the terms of the Act, the British government raised £20 million (£16.5 billion in 2013 pounds, when calculated as wage values) to pay out for the loss of the slaves as business assets to the registered owners of the freed slaves. In 1833, £20 million amounted to 40% of the Treasury’s annual income or approximately 5% of the British GDP (5% of the British GDP in 2016 was around £100 billion). To finance the payments, the British government had to take on a £15 million loan, finalised on 3 August 1835, with banker Nathan Mayer Rothschild and his brother-in-law Moses Montefiore.”(1)
However demand for labour was still required and two systems were setup. Firstly “The Indian indenture system was put in place initially at the behest of sugar planters in colonial territories, who hoped the system would provide reliable cheap labour similar to the conditions under slavery.”(2) Secondly “the euphemistically titled “apprenticeship” system. What this meant was that the slaves themselves were forced to work the fields for a further six years after the supposed abolition of slavery – 45 hours a week for no pay.”(3)
Transporting the Indian “paid” labour to former slave colonies meant that slave owners did not have to pay the higher wages that former slaves now felt they were entitled to. Having no choice they had to still work for former masters and accept poor wages or no pay at all.
The numbers of Indians transported to various colonies varies from 1.5 – 3.5 million. They worked either under debt bondage or as a way to repay the cost of transportation to the colony. The overwhelming majority came from poverty due to imposed taxes/laws within British controlled Indian regions and were told that the place they would be taken was “better”. Most were sent to Mauritius, Malaysia, British Guiana, Trinidad and Tobago, Natal and East Africa.(2)
“Isolated from the rest of the local population, colonial rulers housed the workers in barracks and regulated their lives in almost every regard, with severe punishments for disobedience and “insufficient work.” The poor living conditions and almost unlimited employer control led historian Hugh Tinker to label the system a “new form of slavery.”(4) The system ended in 1917 because of pressure from Indian nationalists and declining profitability, rather than from humanitarian concerns.”(2)
On 9th February 2018, a tweet was sent out by the Treasury, subsequently deleted stating “Millions of you helped end the slave trade through your taxes,… The amount of money borrowed for the Slavery Abolition Act was so large that it wasn’t paid off until 2015. Which means that living British citizens helped pay to end the slave trade.”(3) The crazy thing about this is that taxes paid by former slaves, indentured workers and their descendants would have contributed towards paying back the loan that “compensated” slave owners!
This lack of knowledge by the masses either because of the way it is portrayed or not even taught to past, present and future generations as part of British history is worrying and provides a distorted world view regarding Empire which consequently leads to polls with the following result, “YouGov found 44 per cent were proud of Britain’s history of colonialism”.(5) Also many do not realise that poor Europeans (including children) were also sent as indentured workers. The life expectancy of plantation workers was extremely low and they were willing to even subject their own people to these horrendous conditions.
For me the reason for this stance is if the British Empire was and still is seen as a civilising force, providing the world with “democracy”, the English language, Christianity, railways and other technology then its authority is hardly ever questioned. Thus when the time comes, the masses listen and obey to the point where they will even go to war against each other when told to do so.
Unfortunately post Empire “independence”, pro European governments were “elected” which meant profit driven, worker and land exploitation continued. Eg. Tea growing and picking (long hours, poor wages) in Kenya is managed by Unilver (a British – Dutch company), with its product sold in the UK.
Post Great Recession in 2009, instead of punishing the Banking industry they were bailed out/compensated by tax payers, so has the mentality of rulers actually changed?
Albert Einstein more known for his physics also had strong political views and stated “Nationalism is an infantile disease. It is the measles of mankind.”
This worldwide coronavirus imposed lockdown is the necessary crisis to now allow the inevitable collapse of mass consumption based Capitalism that I wrote about in 2018.(1) So let me give you some information to ponder on.
In 2009, PREDICT a research program, part of the Emerging Pandemic Threats program, funded by the United States Agency for International Development (USAID, motto “From the American people”) was initiated. It was described as “Surveillance for new pandemic threats in “hot spot” countries in Africa, Asia, and Latin America […] focuses on wildlife (particularly non-human primates, bats, and rodents) as well as people with close contact with wildlife.”(2)
In Sept 2019 the 2nd phase of the program came to an end, it had “identified 1,200 different viruses that had the potential to erupt into pandemics, including more than 160 novel coronaviruses…trained and supported staff in 60 foreign laboratories — including the Wuhan lab that identified SARS-CoV-2, the new coronavirus that causes COVID-19.”(3)
However labs around the world were now not just identifying natural viruses they were engaged in “the creation of potential pandemic pathogens (PPP), often termed “gain-of-function” (GOF) experiments.”(4) This research “involves experimentation that aims or is expected to (and/or, perhaps, actually does) increase the transmissibility and/or virulence of pathogens. Such research, when conducted by responsible scientists, usually aims to improve understanding of disease causing agents, their interaction with human hosts, and/or their potential to cause pandemics. The ultimate objective of such research is to better inform public health and preparedness efforts and/or development of medical countermeasures (well that worked!). Despite these important potential benefits, GOF research (GOFR) can pose risks regarding biosecurity and biosafety.”(5) In fact it was deemed so risky that in 2014 funding for these experiments was halted while a review was conducted, but in 2017 was resumed.(6)
There are outspoken critics of this research. “If the [new] virus escaped, nobody could predict the trajectory,” [stated] Simon Wain-Hobson, a virologist at the Pasteur Institute in Paris. “The only impact of this work is the creation, in a lab, of a new, non-natural risk,” [stated] Richard Ebright, a molecular biologist and biodefence expert at Rutgers University.(7) One example of a specific experiment was in 2015 “Ralph Baric, an infectious-disease researcher at the University of North Carolina… published a study on his team’s efforts to engineer a virus with the surface protein of the SHC014 coronavirus, found in horseshoe bats in China, and the backbone of one that causes human-like severe acute respiratory syndrome (SARS) in mice. The hybrid virus could infect human airway cells and caused disease in mice, according to the team’s results.”(7) This sort of experiment however would leave a signature and “While the scientists state that there is no known laboratory “signature” in the SARS-Cov-2 RNA, their argument fails to take account of other lab methods that could have created coronavirus mutations without leaving such a signature.”(4) An example being serial passage in animals. “Ron Fouchier of the Erasmus Medical Center in Rotterdam, who performed research on intentionally increasing rates of viral mutation rate by spreading a virus from one animal to another in a sequence… Working with ferrets, the animal that is most like humans in responding to influenza, the researchers found that a mere five genetic mutations allowed the virus to spread through the air from one ferret to another while maintaining its lethality. A separate study at the University of Wisconsin, about which little is known publicly, produced a virus that is thought to be less virulent.”(4)
“The legal scholar who drafted the main U.S. law on [biowarfare], Francis Boyle, warned in his 2005 book “Biowarfare and Terrorism” that an “illegal biological arms race with potentially catastrophic consequences” was underway, largely driven by the U.S. government.”(4) The US are now blaming China, with Secretary of State Mike Pompeo insisting “there is significant evidence that this came from that laboratory in Wuhan” and suggested that it was in fact man-made.(8) Are they preparing to take the world to war?
However there are non-western hypotheses that this did not originate in China, not just coming out of China or Iran. “In February of 2020, the JapaneseAsahi news report (print and TV) claimed the coronavirus originated in the US, not in China, and that some (or many) of the 14,000 American deaths attributed to influenza may have in fact have resulted from the coronavirus.”(9)
Obviously deadly viruses can occur naturally but the timing of this out break for me is too much of a coincidence. The following requirements had been voiced away from main stream media, pre global lockdown, that only a fearing public during a crisis would accept.
A new global currency (all currencies carry too much debt now, especially the dollar.(10) The Fed had already been intervening in markets since Sept 2019, similar to 2009 recession)
Global mass implementation of robotics (fourth industrial revolution(11))
The resulting rise in mass global unemployment requiring Universal Basic Income (advocated by the likes of Zuckerberg and Gates and now coming into law worldwide(12))
Population control which is the reason given for the ecological meltdown. When in fact it’s the result overwhelmingly of profit driven, western based Capitalism driving huge amounts of deforestation, pollution and non biodegradable waste.(13)
The result will be a cut down in freedoms, increased surveillance (governments will roll out “experts” and “data”, stating “we are protecting you”) and a massive drop in standard of living, especially in financially poorer countries where there is talk of unimaginable famine.(14) This is the new “normal”, but guaranteed as history shows the super rich dynasties have plans and will retain their power (their companies are being bailed out globally, your mortgages and loans will remain).(15) An historical example being the abolition of the British Empire’s slave trade in 1833. However monetary compensation was given to the slave owners(16) which was used to stimulate and further profit from the first Industrial Revolution, labour demand replaced by the Indian indenture system(17) and the loan for the bailout not paid back by the tax payer till 2015!
They are masters at backing violent regimes to further their agenda, then later creating them into an enemy to wage war against. All in the name of profit and power. An example being Operation Cyclone, where the CIA together with MI6 armed and funded militant Islamic groups to fight the Soviets.(18) They would later morph into Al-Qaeda and lead to the “War on Terror”, resulting in countless deaths in the Middle East, a fearful Western public, justification for mass surveillance and insane profits for the arms industry. After what is known in China as the “century of humiliation”, where after losing the Opium wars they were controlled by Western powers, Russia and Japan and now again the US over several years are threatening, have China unleashed a bioweapon? Perhaps… but more likely after the US negotiated with the “Communist” Chinese upper class in the late 1970’s that allowed US companies to exploit mass Chinese cheap labour(19)(20), Chinese usefulness has come to an end and the US have created the necessary crisis to get the job done.
Just to add, after funding for PREDICT came to an end in Sept 2019, 2 events happened in Oct 2019. Event201, a global pandemic exercise hosted in New York(21) and the 2019 Military World Games hosted in Wuhan where the US sent troops to participate.(22) If the US and China are on such bad terms, why would the Chinese allow US troops to compete and why would the US send military troops, even if it is a sporting event?
The US Center for disease control and prevention (CDC) “has recently acknowledged, during a hearing of the House Oversight Committee on March 11, that its biosurveillance program has uncovered evidence that Americans who had previously died to what had been originally diagnosed as influenza have, through post-mortem testing, been found to have actually have perished from the coronavirus. Normally, the details obtained from this kind of biosurveillance would be widely shared to better understand the scope and potential spread of the infection, as well as to better pin down the source and timing of the infections.
However, the initial meetings [since at least mid January] regarding a national-level coronavirus response conducted under the auspices of the Department of Health and Human Services, where intelligence gathered as a result of any such biosurveillance activity would logically be discussed, were all treated as classified events, under orders from the National Security Council. As a result, many people who otherwise would have been present were excluded, and those who did attend these meetings were precluded from discussing what occurred. This lack of transparency on the part of the Trump administration only fuels speculation about the reasons for meetings normally conducted in the open suddenly being classified, as well as precisely what information is being hidden from the public.”(23)
So I don’t think this is natural or even an accident, but a deliberate release via the US (larger military budget than the next nine countries combined) to create the next necessary enemy and crisis to enact necessary laws and perhaps take the world to war, all in order to maintain private power.
For those that do believe this is a natural event and it could very well be, with vaccinations we have forgotten our susceptibility to disease. Take a minute to step out of this craziness and think that this virus maybe targeting humans but we have and are unnaturally wiping out thousands of species! The impact of modern Capitalist led human activity on the Earth is devastating, we are in the midst of the sixth mass extinction of species.(24)
I have subscribed to James Corbett on YouTube for some years and a recent upload led me to looking into this deeper.(25)
Last but not least, from the eastern point of view we experience a cyclical universe where physical life cannot exist without physical death. However death is not the end, that’s not to discount life’s importance but we have a spiritual component that lives on.
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.
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?
We are at a crossroads in human history. Up until this point 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?
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) and millions dying before the system is reset and power is wielded via a new currency.
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 powers. This system is also 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, including America itself, hence hyperinflation in Argentina and Turkey etc. So is that time coming again where the current private owners of the money lending system hidden behind the IMF want to reset it and change the currency to a new one, perhaps a global currency? In the process the debt of your masters (corporate bonds and loans) written off where as yours will remain (mortgage).
With human, ecological and environmental exploitation reaching its peak (sixth mass extinction), have the private global owners realised that the very planet that they to rely on can no longer sustain this current system of profit from predominately western based consumption and waste (if everyone lived like the UK we would need over 3 earths!*) 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? But don’t forget these dynasties have survived 2 previous world wars and countless more so i’m sure they have plans.
With global trade collapsing the use of mass human workers or buyers/consumption is no longer necessary. The rulers only require enough workers to support their consumption and with the advancement of robotics they will only need those humans that can help maintain them. Those who cannot adapt will be left behind and forced to take universal basic income with the intention of preventing mass social unrest. But people need to work, it provides purpose in this current physical stage of life. The likes of Bill Gates, Mark Zuckerberg and Elon Musk have stated this has to happen.
The rulers know that robots do not need workers rights, can work 24/7 in any conditions and do not need entertainment to keep them distracted from their lack of fulfilled lives. However they will push the usual economic BS jargon on to the masses, “robots are more productive” and it means “the people can do more value added tasks.”
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.
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. Once that is in place we can decide how human society progresses.
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:
Human needs such as land, food, water, housing, clothing, health care and energy.
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:
Commodity (metallic coins)
Representative (paper notes that represented a commodity standard)
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.
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 them 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:
QE is a tool used by our Monetary Policy Committee (MPC), where the Bank purchases assets such as gilts or corporate bonds.
QE operations are carried out by the Asset Purchase Facility, and are financed by creating central bank reserves.
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:
Lend more but demand austerity.
Do not lend more and take the assets.
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.
Let me explain the above. As a result of QE we are in a position where a quasi-governmental body, the BoE, has purchased a mixture of existing and newly issued government debt totaling 20% of current debt. Essentially the uk government owes the BoE £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.
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.
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?
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.)
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?
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.
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.
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”.
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!
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
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.