25 February 2013

Everything Hinges on Monopoly


Words become pale.  Facts repeat themselves.  Truth makes an appearance at times, but it is misunderstood and exposed to ridicule.  Economists do not see what stands right in front of their own eyes.  Nine years ago a well-known and able Italian sociologist had not looked at the inscriptions on either Italian Bank or State bills.  These are the economists of the more-than-a-thousand-year-old tradition.

People do not look at plain common objects.  A professor from the London School of Economics once sent me three satirical post cards.  One of these was furnished with a sort of bellows so that when the card was pressed between the fingers it squeaked.  He had bought these cards with a metal “bon” issued by the French Chambers of Commerce that had no value outside of France.  He sent me these cards, nevertheless, to deny the possibility of having one kind of money valid everywhere and, at the same time, another kind valid only within the country of origin.

The diverse groups of monetary rebels and reformers, lacking a knowledge of tradition and possessing only a part of the truth, contradict one another and do not understand their different terminologies.
Fernando Ritter is perfectly right in insisting that the farmer who consigns his wheat to the common granary must be guaranteed the price of fertilizers etc., necessary for future cultivation.  He echoes the statement of Zublay at the time of the formation of the United States:  “It is necessary to have the public believe that this paper is good for something.”  (That is, exchangeable for agricultural products or other goods.)  It is necessary that money be a guarantee of future exchange.  This is in line with the commodity dollar fight, and for a just price-index.

Against this just proposition Wall Street roared :  “Rubber Dollar”.  The usurers, naturally, oppose any control on the part of the public or of a state that pretends to represent the public’s interests.  The usurers want the control to remain entirely in their hands.

The whole history of the United States oscillates between these two camps.  The people rebelled against the London usurers and instituted a government in America.  This government fell prey to the resident usurers who kept in touch with the arch-usurers in the mother-country.  Belmont used to represent the Rothschild, etc.  Today the Main Office is in New York, the Branch Office is in London.  The ubicity of the victims does not matter, and the Head Office maintains a high degree of mobility.
The usurers act through fraud, falsification, superstitions, habits and, when these methods do not function, they let loose a war.  Everything hinges on monopoly, and the particular monopolies hinge round the great illusionistic monetary monopoly.

--Ez, An Introduction to the Economic Nature of the United States

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