Sovereignty, Monetary Sovereignty, Monetary Monopoly, 4

Historically, the established power issues gold money and borrows the gold from its private owners.

Economic suppression is perpetrated by indebting the established power into an infinite debt trap, and by letting the society get short of money because its raw matter is diverted toward more profitable speculations, or because money shortage is deliberately induced and exploited to extort purchasing power from society.

Monetary monopoly exercised by issuing fiat money, that is, made of raw matter devoid of intrinsic value. “Fiat” is Latin and means “be it done”: “be it done” money means money without intrinsic value, whose face value is conventional – an agreement that people is either willing or enforced to accept. Here the question is, who is the owner of its purchasing power the moment it gets born?

Historically, the established power creates money out of thin air, using a raw matter roughly costless compared to the face value, and enforces its acceptance on people in various ways such as by sheer force, by demanding taxes being paid with it so people has to get hold of it by giving product in exchange for it, etc. That the money just created and its newborn purchasing power belong to the established power instead than to the citizens is not even an issue.

Economic suppression is perpetrated if the established power does not serve the best interests of all its citizens while seizing the purchasing power of the money the moment it gets born, thus stealing it from them.

Monetary monopoly exercised by granting the right to issue money to others, for instance private individuals, owning vast amounts of the raw matter the money is made of. Raw matter can have high intrinsic value, such as gold or silver, but it doesn’t have to, as it’s rather a matter of its availability, regardless of its value. Here the question is, who profits from this?