Wednesday, 16 February 2011

Taxation: Where Does All the Money Go?

People in this country are taxed like never before. The government is in horrendous debt.

There seems to be an endless cycle of:

Tax-payer - to Government - to Bank.

Worse still, the government is borrowing money from banks to pay off loans from banks.

Worse still it is paying off loans it took out from banks, to bail out banks.

Even in the "good years" the government was borrowing money whilst simultaneously paying back similar amounts.

Why not just stop borrowing?

Worst of all, the government could issue its own money instead of borrowing it.

We no longer have to have gold coins because our money is all but valueless pieces of paper based on a huge debt bubble.

My question is this:

As the banks (Bank of England, Federal Reserve etc. - all private banks) create money out of thin air and loan it to governments, where does all the money, earned by our labour and taxed from us, end up?

Where does all the money go?

Am I alone is thinking that there is a class of people, mega-rich beyond the dreams of avarice, constantly acquiring more wealth like gluttons at an all-you-can-eat buffet?

Or are these billions used to buy up land, businesses etc. to give them more wealth?

Or are these billions used to 'sweeten' (bribe) politicians, generals, dictators and parties to keep the con going?

Or is it all of the above?

I am reminded of a few quotes:

"The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." — Rothschild Brothers of London, 1863

"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild


"Some people think the Federal Reserve Banks are the United States government's institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers" — Congressional Record 12595-12603 — Louis T. McFadden, Chairman of the Committee on Banking and Currency (12 years) June 10, 1932


"Neither paper currency nor deposits have value as commodities, intrinsically, a 'dollar' bill is just a piece of paper. Deposits are merely book entries." — Modern Money Mechanics Workbook, Federal Reserve Bank of Chicago, 1975

"Banks lend by creating credit. They create the means of payment out of nothing" — Ralph M. Hawtrey, Secretary of the British Treasury

"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." — Henry Ford


But the daddy of all the quotes about banking is this peach. Hold on to your socks:


"Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits." — SIR JOSIAH STAMP, (President of the Bank of England in the 1920's, the second richest man in Britain).

Link:
Quotes on Banking

3 comments:

Anonymous said...

Money is not 'created' out of thin air, most of the worlds wealth appear as figures on computer screens similarily, quantitative easing does not mean any printing presses will be deployed!

Bank have their place in society as tools invest in a nations industry/economy (look up how the Bank of England operated up until the end of the Victorian age) you seem to be jumping on the 'anti-bank' bandwaggon and confusing banks with international finance.

We need to take back national control of the BoE and put in place a competent board of financial regulators/overseers who are appointed by meritocracy and who understand their role in relation to the well being and progress of ALL our people.

Anonymous said...

ANSWER THE QUESTION: where does all the money go.

The BoE is international finance. It issues money as a debt out of thin air. Paper money is worthless when issued. Our labour makes it 'worth' something, then 50% is taxed to pay back the BoE.

Why?

Anonymous said...

money is not issued as paper, most 'money' in circulation does not exist other than as figures on a ledger.

Inflation dictates the buying power of the pound (in this instance let's stick to Britain)

As the first poster has pointed out with regards the Victorians investment/savings saw a 5% return nothing more nothing less, there was no room for any speculation, since then we have been decimalised and have been taken off the Gold AND Silver standard but there is nothing to stop the reversal of this if only we the people seized control of our nations economic destiny.

For a start we could see our focus being taken up by maintaining and building on our trade with our Commonwealth nations we have no reason to be behoven to the EU as most British trade is not carried out within this domain contrary to what the powers that be/media would have us believe.


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