Crime Against Humanity: the Holy GAAP, 41
Furthermore, in the technology of investigations I mention in the heartily recommended readings, it is pointed out how, among the wrongs, the most difficult to detect are those that are wrong because they’re absent. If you pull a wheel cover and notice that one of the wheel nuts is missing, that’s because there are a hole in the wheel and a column in the hub to help you notice its absence, but gaps are not always that clearly visible. On the contrary. If someone has the intention to conceal an absence, he will do everthing he can so that the state of the things that are present on the scene do not show it, but on the contrary dissimulate it: therefore not only it is intrinsically more difficult to notice the absence than the presence, but it is made even more difficult by having to detect it despite someone’s intention to hide it.
That said, not only in the IAS/IFRS, both in definitions and in treatise, there is no explicit reference to granting to the banker the privilege to create scriptural money out of nothing, a promise of payment which would be payment, having a purchasing power in ratio to its acceptance as a surrogate of legal money, born in his hands upon its creation, and surviving indefinitely from then on through any circumstance, in time and space, wherever it is accepted without its redemption being required. Not only in the IAS/IFRS there is no point where it is explicitly stated that the banker is a citizen more equal than others. Way beyond that, the strategy of concealment and code of silence continues far deeper, down to the level of basic accounting terminology.
The law is based on the concept of case: in order to legislate about something, it has to identify and define it as a specific case and name it with a specific term, first. And since Orwell’s 1984 as the very least we know full well the power of “Newspeak”: how the vocabulary is an instrument of manipulation, of conditioning, as evil as powerful and undetectable. No word, no fact: in law and accounting, if the related term and case do not exist, the fact does not exist, either.
