Crime Against Humanity: the Holy GAAP, 39

But there’s a question even more basic than the above: why? What’s the point for the banker, exactly, in passing off a promise of money as if it was money? I mean, not that we didn’t grasp it; I just think that now it’s time to name it explicitly.
First, let’s differentiate purchasing power from its form: purchasing power is acknowledged by people, freely or forcibly, to a given form, and in the case in point people is induced to acknowledge to the “non money” form the same purchasing power acknowledged to the “money” form.
A promise of money, a “non money”, passed off as if it was money, as long as no one demands its fulfilment, its redemption in “real” money, not only is purchasing power out of nothing at zero cost, but in addition to that it has “all the advantages of money without having its disadvantages”. What “disadvantages”?
The first disadvantage of “real” money is that it can’t be created out of nothing just as easily than “non money”, and so the banker has to get hold of it before he can loan it; one way is honestly by delivering a valued product in exchange for it, one way is dishonestly by stealing it one way or another, one way is dishonestly by counterfeiting it in its “real” money form. Its second disadvantage is that “real” money is a “real” asset, therefore he has to book its acquisition into his financial statement, right where the taxman can spot it, hold him to account for it, and tax it.
Incidentally, how about considering for a moment the fiscal aspect? If you’re confronting the order of magnitude of the whole thing, you will understand why I refer to taxation “incidentally”, isn’t it? Not the moneypulators’ mother lode, but still a further profitable lode to them anyway…
Such “disadvantages” are even more obvious when compared to the corresponding “advantages” of “non money”: if the banker loans a promise of money, he doesn’t need to have what he loans; and it goes on this way as long as he is not required to fulfil it, thanks to the criminal conspiracy of clearing houses. And since a promise of money is “non money” and not “real” money, the banker can easily create it out of nothing and, moreover, he is not required to book its acquisition in his financial statement.

Crime Against Humanity: the Holy GAAP