From Goldsmiths to Bankers, from Money to Currency, 10

It could be said that the beginning of the answer is that theories in favour of granting the issue of fiat money as a prerogative of private entities emerged in parallel with the development of banking. It could be said that, in a sense, the history of banking and that of the debt money fraud are so intertwined to be two faces of the same medal.
It’s a crime in three phases: discovery, development, monopolisation. First, the goldsmiths figure out how being bankers could mean even more than being “just” money−lenders, by pushing media of payment onto the slippery slope of the ambiguous money; second, a chaotic anarchy of everyone against everyone ensues where bankers compete with one another for “better” ways to exploit the discovery at the expense of the society; third, the “rule of the worse” slowly prevails over anarchy, and the worse monopolise the bulk of the loot at the expense of both the society and the “less” worse. From government making loans and storehouses issuing receipts against goods, to land banks issuing negotiable instruments backed up by land, to the anarchy of private banks with issuing power, whom at least were forced by competition to back up their notes, until the establishment of the oligo−monopoly of the biggest competitors through the establishment of central banks, and the progressive fraudulent slide of ambiguous money from actually backed money to fiat money backed by nothing but issued as if it was. An involution increasingly driven by the increasing power of increasingly criminal intentions.

Considering, in fact, that in the meantime banking is developing and rather unrestricted, and so developing as well is its power to subjugate politicians, all this is likely to result in gang wars – pardon, bank wars. You know what it’s like, when gangs – pardon again, banks, compete for the power to squeeze the uttermost from people, provided that same people survives getting caught in the middle of their shootings? That kind of things can result in two different outcomes, depending on what sort of criminal has the upper hand…