Crime Against Humanity: Pensée Unique in Economics, 42

Exaggerated as it might seem to his comtemporaries, we now know this is but hard evidence that such is the power of money, of monetary sovereignty, and of moneypulation: Kublai Khan evidently understood that fiat money could turn sheer power in purchasing power fully. Regardless of his being the first usurper of monetary sovereignty from its legitimate owners, the producing citizens, and regardless of the division of its profits between him and the latter, that made the difference from the rest of world’s rulers who did not undersand it and so had monetary sovereignty restricted by the intrinsic value of their money.

Between the two World Wars the German Reichsbank, headed by Hjalmar Schacht, managed to bring Germany back from rubble to threats again, and what’s more, fast. And Werner reports two more illuminating, cause and effect, subsequent facts: a) “The German case may be an exception among industrialized countries, since the Reichsbank repeatedly and publicly attempted to explain its belief in the importance of ‘productive credit creation’.” b) Schacht “was a popular adviser with many developing countries in the postwar era. The German example had an especially profound impact on East Asian economies, including Japan, Korea and Taiwan. Thus it was not surprising that the IBRD’s (International Bank for Reconstruction and Development) 1993 study of the East Asian ‘Economic Miracle’ concluded that intervention in the direction of credit has played a substantial role in achieving superior economic performance.”

And when it comes to lies in terms of wrong solutions, of causes of the illness actively passed off as its cure, here too Werner points out two illuminating examples: borrowing foreign currency and inviting foreign investments, demonstrating how both are but betrayal masquerading as help.
Both are usually considered important for helping developing countries develop and grow, both collapse like a house of cards when the basic truth comes to light: purchasing power of fiat money is created out of nothing. And the reasons are so elemental and obvious that formulating them explicitly would be an insult to our intelligence, if it wasn’t for the fact that some pretend not to see or not to understand:

Crime Against Humanity: Pensée Unique in Economics