Crime Against Humanity: “National”, “Federal”, “Central” Banking, 16
I would invite you to pause for a moment to ponder over this godlike power, and in this regard I would add that central banks, in addition to, or better in combination with being privately owned or controlled entities, enjoy another godlike privilege: they are not subject to any audit by any independent entity; they are not subject to such independent audits because they are accountable to no jurisdiction; they are accountable to no jurisdiction because they are not subject to any jurisdiction. That this means that no one is allowed to know how much “money” there is in existence, nor to have any say about it, is just a facet of this godlike power.
And now, as to the effects for and on the parties affected, let’s compare the central bank scheme to its absence in view of its actual purposes of allowing bosses to control a scheme that runs the unwitting targets into debt to them and their subordinates by hijacking their money and institutions. The goal is maximising unpunished exploitation of fractional reserve scam; thus, at the same time minimising both the targets’ awareness of the scam and the eventuality that the targets step beyond the edge of the stage and catch the banker in the act of tampering with their purchasing power.
With free banking, if the targets demand redemption of any banker’s promises−credits in deliveries−banknotes, that banker promptly issues those deliveries−banknotes, but these in turn are promises, and targets are entitled to – and will – demand that banker to redeem them too in the corresponding delivery, be it gold, goods, or whatever. Free banking is a sort of limited crime scheme where competition intrinsically limits the expansion of promises fraudulently passed off as deliveries. Swindle aside, it’s nothing more than the basic of healty competition versus monopoly. If a banker decides to push it too far, why should the competing bankers stand by and watch that fellow banker strip them of increasingly bigger shares of their loot?
