Crime Against Humanity: “National”, “Federal”, “Central” Banking, 17

It must be kept in mind that any form of promise−credit can’t help but end up in a bank account, and most likely in another bank (unless there were only one monopoly bank, which is the bankers’ dream, and central banking is but a step in that direction). So the other bankers will just demand redemption of the excess promises−credits issued by that banker and now in their possession. And as to the targets, if they begin to be suspicious of that banker’s promises−credits in their possession, they will just start a bank run on that bank. In both cases, if that banker can’t fulfil all those promises−obligations, no one else is going to come to the rescue, and that banker has nowhere to take cover, nowhere to hide.

With central banking, no bank can push it too far alone, for the very good reason that they all do push it too far together at the same pace, constantly, relentlessly and stealthily. The central bank ensures via the reserve requirement that no banker pushes it too far all alone ahead of the pack of its fellow bankers, so that all bankers can blissfully devote themselves to back one another up by accepting and treating each other’s promises as if they were deliveries indefinitely, undisturbed and undetected. As to the targets, they end up like frogs boiling, to begin with: if you immerse the frogs in the water, and then you warm up the water uniformly enough and gradually enough, every day the frogs won’t notice any difference between here and there and between today and yesterday, while every day the increasing temperature takes away their force more and more, so they are eventually going to find themselves perfectly boiled without even realising it, crushed in enough apathy to let bankers skewer and strip them without the slightest objection. The more promises are created and passed off as deliveries, the more purchasing power gets transferred from the targets to the bosses and the subordinates, so the targets are subject to a permanent and universally coherent pressure to consider promises as deliveries, and to force them to do so at the slightest chance.

Crime Against Humanity: “National”, “Federal”, “Central” Banking