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Thursday, November 14, 2024

The greatest land grab in history

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We are supposed to be in a recession, right? Right now, someone somewhere in this country is sorting out a loan with their bank and, if it is granted, the bank will type the figures on a computer and say they have credited that money to the persons account. In fact they have done nothing of the sort, they have created a debt for the borrower to repay, but no money will appear in the economy when they type those figures. They have created a debt burden which must be repaid from the real economy of resources and labour which is hopelessly inadequate to meet the debts the banks create out of thin air. When the debt is repaid from the fruits of labour it will vanish forever into the banks coffers. Whatever the loan was taken out for, be it a house or car, a computer or lollipops, that real time object will slowly deteriorate and will require maintaining which might require a further loan/debt or more of the fruits of real time labour, and those payments will also find their way into the banks fake coffers.

Ordinary working people are predominantly dependent on the real economy of resources and labour, they create real wealth which, as, long as they never have anything to do with the banks, they might live on debt free. The corporations predominantly use the labour market for wealth creation, returning the smallest amount of the real value of each persons labour as pay and pocketing the rest. The stock market is a global casino, taking all manner of bets on the markets purely for profit, and if the markets get shaky so called investors are the first to run. If the markets crash, it has no bearing on the real value of labour and resources, if you have the ability to build a shed then a shed you can build using real resources like wood and nails, a saw and a hammer and so on. If you are in the habit of washing and polishing your car on a Sunday, as long as you don’t lose the car through debt that you are not paid enough to repay, your time, labour and the resources (human energy) needed do not change.

In 2010, the total money supply (M4) measure in the UK was £2.2 trillion while the actual notes and coins in circulation was only £47 billion, 2.1% of the actual money supply. So in the UK we are constantly recycling the available cash to buy food and services and repay debts, but every time it is used to repay part of a debt the banks add that to their books as if it was new money paid to them which, if you think about it, is the greatest recycling scam in the history of the world. The five pounds any one person earns through the value of their labour in the real economy and on which they pay tax is used to buy goods and services and to service debt, from which a percentage is sliced off in yet more tax and profit and then vanishes into the banks to be drawn out to pay next weeks wage bill. Money is the most upwardly mobile thing in the world using labour and resources as fuel to drive it.

People’s labour and natural resources are the engine that drives the world from which all growth and profits spring. Is it any wonder then that governments have taken such trouble to prevent strikes and walkouts? The most fearsome thing that can happen is that people stop participating in the global ponzi scheme of siphoning real wealth ever upwards into the grasping claws of the wealthy, who in all cases benefit from kindly tax breaks and government protections. No such protections exist for people’s labour or natural resources, both of which are exploited for wealth creation that benefits only the few who grow ever wealthier and for whom the recession is a metaphorical gold mine and the greatest land grab in history.

https://en.wikipedia.org/wiki/Money_supply#United_Kingdom

Keith Lindsay-Cameron

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