Tale of Money Creation
process whereby banks create a nations money supply through fake
loans is perhaps the most astounding sleight-of-hand ever developed.
It is clearly revealed in the following fable, written by the
late Robert Hemphill and embellished slightly by L.E. Fleischer:
upon a time to the Temple of the Thirteen Suns came the rich and
powerful Chief Oomah the Third, who said to the goldsmith of the
temple, Hansen L. Roschab, I have much gold and am about the depart
to a far country. Wilt
keep this gold safely for me against my return a year hence?
I will pay thee well.
wily Hansen coughed loudly and covered his countenance with a cloth
lest the rich Oomah the Third observe his joy to have this treasure
in his possession. When
he was clam and could look serious he said to Oomah, It is a very
great responsibility and risk but I will undertake it for a tithe
which will be one shekel in every ten.
said the Chief Oomah, It is a deal. And forthwith his slaves
delivered many bags containing in all a thousand shekels of gold for
which Hansen L. Roschab, the goldsmith, gave the chief a parchment
deposit writing payable to whomsoever, and thereupon Chief Oomah
departed happily upon his journey.
soon as he was well out of the country, the shrewd Hansen called his
confidential scribe and bade him thus: Go thee to the merchants whom
I tell thee of and secretly say to each that thy master hath a
little gold for hire upon good security.
And the servant departed swiftly.
there came to him a great merchant who said, Hansen, you old crook,
I am in a jam for a few shekels of gold.
Wilt lend me? And
Hansen replied, Money is very tight these days, but it might be
arranged. What is thy need? The
merchant answered, Two hundred shekels.
said Hansen, It is much money.
What security couldst thou pledge for so great a sum? Then
the merchant shewed Hansen a writing of his possessions of
merchandise to the amount of a thousand shekels. Hansen said, It is
not enough. Thou must
also pledge they dwelling and they slaves and they raiment.
Whereupon the merchant, after much protest, pledged all his
possessions, even unto his innermost raiment. Then said he to
Hansen, I have no place to store so much gold.
Keep it safe for me and give me a writing, give me a deposit
writing, which I may deliver to whomsoever I will.
And Hansen did even so.
(NOTE: Lender and borrower owe each other equally, so NO DEBT
EXIST BETWEEN THEM.)
next day came another merchant, and another, and still another. And
to each Hansen loaned a portion of the gold of Chief Oomah the
Third, taking from each a security his entire possessions, including
his innermost personal raiment, and have to each a writing upon
parchment showing that each had on deposit the gold he had borrowed,
until upon the tenth day he had given parchment deposit writings for
the whole of the thousand shekels.
But he still had all the gold.
reflected much upon this curious state of affairs, and said to
himself, These birds know not how much gold I possess.
They don't want the actual gold itself; what they really want
is credit, that is, a deposit writing which they may pass from hand
to hand as money. Actually, all they need is the figure that appears
on the gold just a figure to pass from buyer to seller.
I have a grand idea!
the next day came another merchant, and another, and still another.
And to each Hansen shewed the great store of gold of Oomah the
Third, and to each he pretended to loan a portion, although he had
previously loaned it all to the first ones who came.
it came to pass that at the end of another ten days Hansen had
pretended to loan to many more merchants and had given writings of
deposit for a second thousand shekels, making 2,000 shekels in all,
although he had only 1,000 shekels of Oomah the Third.
still he had all the gold.
Hansen reflected to himself, What a cinch; what a leaden pipe cinch!
I wonder I did not think of this before.
I can collect just as much interest, just as much usury, for
the phony deposit writings as for the genuine.
Verily, I am a financial wizard.
Hansen caused to be noised about that he possessed a vast store of
gold for hire, and many more merchants came to borrow.
And to each Hansen delivered writings of deposit and
collected generous usury and demanded pledges from each of all his
possessions, even unto his innermost raiment, until he had issued
writings of deposit for 10,000 shekels and held mortgages on
substantially the whole city.
went Hansen to the wise man of the city and said unto him, Verily, I
have discovered the greatest of all time.
I have learned the magic of making gold out of baloney
through fake loans and incidentally creating the nations money
supply. The process is as follows:
man cometh unto me to borrow. I
give him a writing upon parchment which sheweth how much money I owe
unto him. He likewise
giveth me a writing which sheweth how much money he owes unto me.
My writings then passes from hand to hand as money, gathering
for me (through him) a perpetual ransom in usury.
Meanwhile his writing lies in my strongbox, gathering for him
is my fake-loan formula. And
if I can keep it secret for a few years, I'll collect a fortune that
will make Solomon's treasury look like a second-hand store.
Now tell me how I may keep secret this bonanza for mine own
said the wise man, Look wise and say little and only upon little
known matters afar off. Obtain
the ear of the town crier. Engage
him to spread the impression that money is a mysterious Subject
which no one understands save thee alone.
Be friendly with the king's councilors and grant their
favours, that the king may smile upon thee.
Hansen did as he was bid and collected much usury from the phoney
loans and built for himself a mansion, collected works of art, and
clothed his wives and concubines in fine linen and jewels.
And when his
fake-loan business had grown to many times its humble beginnings, he
took over the entire temple and by way of a sly joke called it The
First International Bank, the same being from an obscure language
and meaning place of imaginary money.
that is the reason most banks have great marble pillars and bronze
doors, so they may resemble outside as well as internally the place
of imaginary money which Hansen L. Roschab, the goldsmith, built
with phoney loans on the gold of Oomah the Third in the Temple of
the Thirteen Suns.
Hansen L. Roschab eventually discovered an even more potent method
of dispossessing the public on a grand scale; he learned how to
create the fleecing cycle known as the Business Cycle.
Here is how he explained it to his sons:
increasing or decreasing the flow of fake loans to the public, I
increase or decrease the volume of money and cause a boom or a
depression. I buy up
and foreclose on property during the depression, then sell out later
at high inflation prices during the following boom which I create by
rapidly increasing the flow of fake loans, thus expanding the money
supply. I repeat the
cycle again and again, alternatively granting and then withholding
the phoney loans. The
public is like unto a great flock of sheep, which I thus
|Author: Islamic Party
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