The Lifecycle of the Substitute and Its Purchasing Power, 7
This said, let’s now finally see fiat debt money in action through its lifecycle phases:
Beginning: Whatever the physical and legal form that fiat debt money takes, be it coin, banknote or electronic data, and regardless of when and how its physical or electronic birth takes place, that from a worthless state it becomes valuable implies there is a definite moment when its purchasing power is born, and that in turn implies – inexorably and inescapably – that its purchasing power is born in someone’s hands: the issuer’s. As we have seen, while in the case of a certificate of ownership its purchasing power is that of actually delivered production, and in the case of a bond its purchasing power is that of future promised production and delivery, in the case of fiat debt money its purchasing power is neither that of delivered production nor that of promised production: it springs into existence out of thin air, without any production at all, neither delivered nor promised. So each unit of fiat debt money newly created fraudulently enriches its issuer on its outset, to begin with.
Continuation: The issuer first exchanges fiat debt money with some existing purchasing power; that what it is exchanged with bears any interest at all or anything alike is outside the subject, the point here is the interest borne by money. Because from then on, just like a taxicab whose taxi meter never sleeps, here is the perfect tool to extort purchasing power out of anyone, covertly, automatically, effortlessly: every breathe everyone takes, they are in debt to the issuer for the very fact of breathing in the first place. Like a toll booth placed just outside the heart, with a toll exacted on every drop of blood that circulates to keep the body alive, the issuer accumulates an infinitely increasing credit by reason of each and every money unit that exists and circulates and keeps society alive, no matter from whom, to whom, and for what it flows. Remember the basic suppressive strategy to find a vital communication line and then sit on it and profit from suffocating its flow, vital because indispensable?
