And what is more, the gambling is also fixed. Not only there are the speculators that merely steal existing money by sleight of hand. Even though they can and do bleed you dry like piranhas if they’re allowed to operate, those are but the small fry. Other, less visible and far more dangerous, speculators exist that operate by manipulating the very monetary base, and those are the real big fishes: the usurpers of monetary sovereignty.

I previously mentioned stagflation, just in passing: the occurrence of inflation and stagnation at the same time, contradicting the dogmas of mainstream economists. On one side there is no money for people, the preys that starve in stagnation; on the other side, the horn of plenty never stops to pour a waterfall of money in the hands of moneypulators, the predators. About one hundred years ago in his caricatural drawings, with good reason George Grosz drew the plutocrats, those who rule by the power of money, as quite grotesque and anticipating the pigs of Orwell’s Animal Farm. That good reason is utterly basic and is this: those sneering plutocrats have got their hands on monetary sovereignty, the power to decide not only how much money, but in whose hands as well.

We can rapidly mention here the many reasons discussed elsewhere why gambling is utterly out ethics and it must never be condoned: it is a game where the majority loses by definition, with absolute certainty; what someone wins is what someone else loses, if not even a fraction of it while the rest is waste or damage;
it educates to roguishness instead of wise intelligence, to the idea that earnings come not from honest production and delivery, but from snatching bread from someone else’s mouth, that is, it educates to be PTS to the idea that life consists of either shooting or being shot, a destructive false idea spread by suppressives to the aim of dividing people and putting them against each other instead of against them; and it educates to be PTS to the idea that where roguishness will not work the outcome depends on fate instead of good work, a further destructive false idea spread by suppressives to the aim of educating into the most lethal disease, apathy, as the idea that one can’t do anything about it is the very hallmark of apathy.

Bur when it comes to finance, all this is just the beginning: financial gambling transcends even that. In fact, it so happens that in the finance gambling who “the winner is…” and who “the loser is…” is set down from the very beginning, and set down three times: if there ever is any chance or delusion to be on the winners’ side in the visible small games of small fry, well, “all hope abandon, ye who enter in” the invisible big game of the big fishes. A game so big and invisible that no one is aware being in it – neck−deep, and forcibly so. And when the ship is eventually sunk by its commanding officers as part of their plan, guess who are the slaves chained to the oars that sink with it?

As we’ve previously seen in the crimes against humanity of the ambiguous money and “business” cycles, all such cycles are doomed since their inception, whether intrinsically or deliberately. And the moneypulators pulling their strings have all the awareness, knowledge, intention, power and time to prepare the collapse, their soft landing in heaven and your crash in hell. Whatever the token subject of the pyramid scheme, money or whatever, when the pyramid collapses and the value of its subject with it, its orchestrators shall long have converted all their shares of it in some other valuable that will survive the collapse and even take further advantage from it, leaving the victims holding the whole bag.

During the finance cycles, the big fishes must create and allow creation of money in at least constant amounts, if not on an exponential rise, in order to both proceed with their plans and keep the small fry fed; that is intrinsic to speculation through finance as a pyramid scheme: the whole pyramid is but a Ponzi scheme, and to keep it going new worhsippers of fool’s gold must be duped to feed those already in, incessantly. And the show must go on and on and on for the very obvious good reasons that as long as it goes on the wealth transfer goes on, too, and the higher the pyramid is when it eventually collapses, the bigger the further wealth transfer and the suppression perpetrated by its collapse.

So the money hose of moneypulators is necessarily wide open rather permanently, and regardless of the degree of inflation this creates, there’s a facet of this hidden money flood that’s worth pointing out as a pinnacle of the scam: odious debt.
A criminal, a suppressive, imposes the want, or better yet the addicton, for something he has the monopoly of, and the moneypulator does so with the very means of exchange of survival factors in society. I said that whoever is allowed to create purchasing power out of nothing sooner or later will own and destroy everything and everyone, and that’s how it’s done: odious debt.

Odious debt is defined as a legal theory that holds that, analogously to the invalidity of contracts signed under coercion, the national debt incurred by a regime for purposes that do not serve the best interests of the nation is a debt of the regime, not of the state, and should be repudiated and not enforceable. I would like to emphasise how this is an odd case of common sense, justice, ethics and calling spade a spade in law, which is not commonplace. In fact, quite to the contrary, usually regimes are tools set up by moneypulators for that very purpose of running nations into debt with them so as to seize them and strip them for good.
This definition is a good starting point, in that I think it needs some adjustment, in order to widen its scope and thus carry out its mission of explicitly calling things with their name.
In my opinion, any debt designedly caused by the creditor is odious debt. Any debt caused by the creditor to the purpose of bleeding or seizing the debtor is odious debt. This usually involves putting the debtor in a condition in which he or she has no other choice than getting into debt, therefore that the debtor formally accepted to get into debt “freely” is immaterial. We’re nobody’s fools.

Indeed, sifting through the whole economy to separate the wheat from the chaff, honest debt from odious debt, is a monumental feat. But each of us should nevertheless develop a careful, critical, enquiring look on the subject as part of one’s own responsibility as a citizen. And as a human being.
That of odious debt is a thick maze; however, we have as guidelines the basics we have seen before under crimes against humanity, whom all add up to the creation of purchasing power out of nothing and the ensuing unbridgeable competitive advantage, originated by, and at the disposal of, suppressive, criminal, PTS individuals and intentions. The step forward here is conceiving conceptually, and detecting in the facts, how all the world’s gold, or an unbridgeable competitive advantage, can be used not only to buy anything and anyone out bluntly, but also to sweep them stealthily off their feet by sliding them into odious debt. And not so stealthily, eventually.

A high−scale level of that is documented by John Perkins in his Confessions of an Economic Hit Man. The main characters of this kind of drama are: on the downside, “developing” countries; on the upside, big, often multinational corporations, supranational financial entities supposedly in charge of “helping” countries to “develop”, and the moneypulators pulling the strings of both; in the middle, those countries’ more or less plausible and democratic politicians and officials. And the economic hit men doing the dirty work.

Obviously enough as usual, these countries are slid into odious debt by bribing their rulers into buying on credit huge supplies of things the country certainly cannot afford and probably does not need in the first place, sold by those corporations and financed by those entities. Needless to say, the process includes replacing the rulers with bribable ones if those in office are not – by any means necessary, murder included –.

If need be, propaganda on pointless consumerist models lends a good strategic hand by creating a want for such unaffordable and useless things the local economy could really do without as it always did. Incidentally, this is but one of the various reason of the war fought by globalisation against local diversity: creating want for useless burdens to bring about economic slavery.
In fact, that such altruistically provided “help” is not needed in the first place is deftly “ovelooked”… because what counts is that it is unaffordable: the order of magnitude of its cost is such that it produces an ensuing debt of the country to “helping” financing entities well beyond any capability to bear it and repay it at all.
The ultimate purpose, and the end result are, the payment for such “help” is transferred directly from the financing entities to the supplying corporations, while the “helped” country is left with the several burdens represented by corrupt politicians and officials, obstructive, useless, harmful “help”, precious, maybe scarce resources wasted and stolen, and, above all, inextinguishable odious debt slavery. And the ensuing spiral of further “help” cycles the debt slavery and corrupt rulers will force the country to accept.

More generally, even though money and thus moneypulation are not the sine qua non for odious debt, as it can be manufactured even without recourse to them, the “invisible”, perfect scam of moneypulation, given its fraudulent nature of purchasing power created out of nothing, provides perfect tools for manufacturing odious debt, such as debt money.

Other even high−scale levels of odious debt are the crimes against humanity of “gold standard” ambiguous money cycles and “business cycles” we’ve seen before. And indeed these are based on moneypulation directly, and they can secretly haunt, enslave and suppress well beyond the borders of a single country, without even having to get one’s hands dirty with “economic hit men” on the field.

By the application of the definition of odious debt, we may detect in society endless examples – or rather cases, a less aseptic term – of this crime, whether perpetrated by means of moneypulations or not; so I think it is more important, and more concise as well, to ensure here the definition is clear, rather than indulge in a stream of examples at various scales. Therefore I count on your personal ability to translate the definition into actual implementations, and to detect such cases.

Indeed, in all such cases, in the course of such investigations, the problem arises continually to distinguish honest debt from odious debt, and it is the core indeed. Studying and clearing the mechanisms, that is, who is the robber and who the robbed, what is robbed and how, exactly, is the basis on which to assess what debts or parts of them are odious and thus to be repudiated and not enforceable.
And as one descends from layer to layer, the leafage thickens, and with it this core issue, too. But, fortunately, things get simpler where it counts. In fact, what counts, and thus what we’re interested in, is the top of the pyramid of criminal parasite speculators.
And as we move towards the top, on the contrary, everything gets simpler and aligns more and more explicitly to the basic purpose that spreads by the top, seizing everything and everyone, and especially the ways and means align.
And the way these ways and means align is that the more the games are really big, the more they are based on moneypulation.
At this point, reasoning by relative importances, we can resolve not to waste our energies on the lesser levels and concentrate on the top, on the head of the tapeworm. And to dust off some good old basic logic for the occasion:

All the debt stemming from the evil purpose spread from the top of seizing everything and everyone is intrinsically odious. All of it.
All debt stemming from moneypulations is intrinsically odious. All of it.
As you move towards the top of the pyramid of criminal parasite speculators, all odious debt is more and more utterly based on moneypulation.
All odious debt, being odious, is to be shoved up the “creditor” – pardon, repudiated and not enforceable.
Hence, all debt at the top of the pyramid is odious and is to be shoved up the “creditor”, and that’s all, period.

And as to the order of magnitude of the whole thing, as I previously said…
Shall we try to imagine what is going to happen when the 1% of the world, the top of the pyramid, will knock with police dogs and subcutaneous RFID chips at the doors of the 99%, of the rest of the world, claiming credits and intent on foreclosing goods amounting to tens or hundreds of times anything that exist on the planet?

In the meantime, to make the wait for this reckoning less boring, the “liquidity” in the hands of criminal parasite speculators has never been so immense in history, and they keep on throwing from one speculation to another the incredible amount of “money” created and accumulated with stolen monetary sovereignty, fractional reserve and banking reflux, destroying ecosystems, civilisations, markets and lives, not quite as a side effect but rather as one of their goals. We, now, know what scam that “liquidity” is; and we, now, know what a crime speculation is. Well, financial speculation, not only robbing people on a day−to−day basis, but generating periodically – quite in addition to that – “involuntary”, “spontaneous” speculative bubbles, crises and ruin, is now growing exponentially to unimaginable orders of magnitude. The criminal parasite tapeworm keeps on growing bigger – way bigger than its host organism –, and is preparing to blot out the sky…

So let’s call things with their name.
Economy, by its definition which implicitly includes the ethics of the greatest good for all, boils down to production and exchange, that is, barter; means of credit, payment and exchange boil down to split barter. And that’s all, plain and simple.
Finance is at the service of the economy, not the other way around. The supremacy of finance over economy is intrinsically, in and by itself, suppressive and that’s all, period.
Finance has a right to exist as long as, and to the degree that, it serves economy ethically, and it does so by implementing the logistics of money as the blood carrying oxygen into the body where and when needed, where and when honestly deserved.
We have learned, conclusively by now, that the requisite to curb finance within its ethical function and right to exist – and to prevent such suppressive plagues as odious debt and survive at all, for that matter – is that ethics must be in force at its most fundamental level: monetary sovereignty to its legitimate owner, the producing individual citzen, and fair exchanges, period.