Financial system
 Financial system  (Religion)   | |
|---|---|
| Interest of | • Martin Armstrong • Ernst Wolff • Zero Hedge |
The modern financial system is a belief system comparable to a religion. It is solely backed by our trust in it, nothing else.[1]
Contents
Official narrative
"There is no alternative" etc.
Criticism
- Full article: Fractional-reserve banking
- Full article: Fractional-reserve banking
Mike Daisy has called the modern financial system both a religion and a "cargo cult".[2]
Money creation
- Full article: Money creation
- Full article: Money creation
Money creation is not taught on business, economics or accounting courses, or subjected to discussion in commercially-controlled media.
John McMurtry estimated in 2001 that approximately 95% of money was created by private for profit corporations.
“The key master lie is this one:- that the politically-imposed (not economically-) the politically-imposed global corporate system calling itself the "global free market", that that politically-imposed global corporate system equals the "free market" equals democracy equals a solution to poverty.”
John McMurtry (2001) [3]
An example
| Page name | Description |
|---|---|
| Stock exchange |
Related Quotations
| Page | Quote | Author | Date |
|---|---|---|---|
| COVID-19/Purposes | “The MOTIVE is to default on all government debts and to hide their failure, Schwab is presenting this as you will own nothing and be happy because governments will erase all debt. Pension will be replaced by Guaranteed Basic Income. So while everyone argues over COVID, vaccines, COVID passports, and lockdowns, the real plot is never discussed. This is what 2032 is all about. It is the end of an era that began with Keynesian Economics and the Great Depression. Part of Schwab’s 2030 agenda is to end democracy they call “populism” for we are too stupid to know what is best for us, when it is all about them retaining power.” | Martin Armstrong | 17 December 2021 |
| J. P. Morgan | “... [credit] is an evidence of banking, but it [credit] is not the money itself. Money is gold, and nothing else.” | J.P. Morgan & Co. J. P. Morgan |
Related Document
| Title | Type | Publication date | Author(s) | Description |
|---|---|---|---|---|
| Document:War and Peace - The Lost Principles of Science and Value | article | 17 June 2015 | John McMurtry | A wide-ranging critique of the techniques of globalisation and the way in which apparently otherwise well-meaning western NGOs frame the worlds problems in US war propaganda terms |
