A recent opinion piece from Mitch Sutton brought people’s attention to the importance of tackling the managerial bureaucrat class when Nationalists come to power if we wish to reverse the trend of mass immigration.
There is another institution that will have to be taken into account, that is even more vital, if we are to reverse demographic change and this is the banking system.
The current global banking system operates in all but a couple of countries and is based on currency creation out of debt. Regardless of whether a nation’s central bank is publicly or privately owned, most countries’ governments cannot issue their own currency, but rely on issuing government bonds and treasury notes which are mostly purchased by private banks which are allowed to borrow money into existence through a system called fractional reserve lending.
This basically works as follows: the bank will set up two accounts. In the first the government bond is registered as an assest, let’s say for $1,000. So the government owes the bank $1,000 and this loan is secured by the bond. In the other account the bank creates $1000 and gives it to the government. So the bank balance sheet looks as follows:
- account a) MINUS $1,000
- account b) PLUS $1000.
Total balance ZERO. Yet an extra $1,000 is now in circulation in the economy.
The same thing happens with private loans such as mortgages. If you buy a house the bank will give you two accounts. In the first is the money it types onto a screen and says is yours to buy the house with and in the other is an equal amount of debt that you must pay back that is your mortgage. The money didn’t exist until you took out the loan and, most importantly, it will cease to exist the moment you pay it back. Plus $100 from your wages in your savings account, paid into a mortage account that is minus $100, results in zero money in both accounts.
The problem of course, is that the bank charges governments and individuals interest on the currency it loans into existence and that interest can only be paid back with the same currency that only comes into existence with another loan.
Now there are more rules around banking than described above which I don’t have the time in one article to cover. Things which complicate and obscure the fundamental truth of money creation as described above. But at its core, somewhere up the line in various parts of the system, money is being created out of nothing this way.
It is estimated that 98% of the currency in circulation in Australia (and the rest of the world) has been printed into existence in the form of a loan with interest payments attached. There is more than $4 trillion of debt in Australia from both government and the public. That means $4 trillion circulating around the ecconomy everyday facilitating shopping, trade, wages, etc, etc. Only 2% of that, or around $80 Billion is permanently in existence. If the debt was ever repaid, there would be virtually no money in existence for government or citizens to function with.
Because of the interest payments that are attached to all of this debt, that can only be paid by creating even more currency from more debt, the money supply must continue to expand. The economy must keep growing, lest the whole Ponzi scheme collapses. There are only so many cars, fridges, Big Macs etc that an ordinary person can want or consume, so somewhere along the line, increasing population is the only way to keep the system functioning. There is also the nature of money printing and interest payments to concentrate assets, from which loans are guaranteed with, into fewer and fewer hands. Again, to keep the Ponzi scheme going, the “solution” to fewer Australians being able to get a loan (and thus keep creating more currency to cover interest payments) is to keep importing more people into the country.
So this is the real reason why every right wing party that has been voted into power has broken their promises on immigration. They are not in control of the money supply and are therefore beholden to the banking system. It’s not just that there will be an economic crash. Most of the money in circulation will cease to exist when one occurs and running the country will become impossible.
So mass deportations or even a halt to immigration won’t be possible without also changing the way we issue currency and run the banking industry. The majority of currency in circulation must be permanent and not subject to the health or manipulation of banks and people who own them. A country doesn’t need economic growth for the population to be prosperous and happy, but the current financial system requires it for its very survival. It does not deserve to survive. It deserves to die. The economy should exist to serve the people, the people do not exist to serve the economy.
To do this we must first educate ourselves and then the public about how our system currently works, so that by the time we come to power we have both the knowledge and support to make the necessary changes. This must be done internationally, not just nationally, because historically, every country that tried to take back control of their currency in the last 200 years has been subject to political assassinations and/or invasion. The banking cartels hold enormous amounts of power and influence around the world and they won’t give up their hegemony without a very dirty fight. We must prepare for that fight. The bureaucrats will stand in our way to keep their jobs, the bankers to keep their power and control. Both will need to be neutralised as a threat for us to be successful in getting a White Australia again.
You can find Stephen Wells at Telegram and purchase his books here.
