Crime Against Humanity: the Holy GAAP, 37

In fact, the way to sort out every possible confusion about purchasing power, money, their births and persistences, about what counts and whether and how the law handles what counts, is differentiating the substance from the rest: the purchasing power is one thing, its form, whether monetary or non−monetary, physical or dematerialised, is another thing, and it is purchasing power that counts, as well exemplified by the activity of the counterfeiter.
After all, the substance behind the quibbles, the two hard facts at the bottom of the banker’s house of cards are there for all to see, touch and examine in his financial statement: fact one, when the banker creates his scriptural money out of nothing and contextually loans it, he books only the loan, not the creation; fact two, when the loaned scriptural money out of nothing is repaid to the banker, he does not delete it but he transfers it to cash and never deletes it from then on. That’s it.

Anyway, whatever the legal trickeries and the controversies on their interpretations, the point is the common denominator of all the room for manoeuvre at the disposal of bankers and their mates, both within and off the balance sheet: they’re all made to make the basic element, the incredible privilege of the creation of purchasing power out of nothing, possible and to exploit it, through every possible use of it, and through every possible competitive advantage resulting from it. The whole process of the Holy GAAP is a masquerade to cover up the creation and exploitation of purchasing power out of nothing and its consequences and fallout up to the infinite debt trap. And its end product is achieved even before banking reflux completes its cycle by releasing it from the loan granted upon its creation, as that purchasing power is immediately available to the banker from the very inception of his “money”; having to lend it and wait until the borrower repays it or can be expropriated is but a little and profitable sacrifice.