- To what I reported to you at the last meeting, I shall now
add
a detailed explanation of internal loans. I won’t
say any
more about foreign loans, because they have fed us with the national
moneys of the Goyim. But for our State there will be no
foreigners, that is, nothing external.
- We have taken advantage of the mistakes of administrators
and
slackness of rulers to get our moneys twice, thrice and more times
over; by lending moneys to the Goy governments which were not at all
needed by the States. Could anyone get away with making the
same
type of loans to us? ... Obviously not! So I shall only deal
with
the details of internal loans:
- The process begins by the State announcing that it needs
to
borrow money from the public. Interest-bearing paper (bills
of
exchange) will be printed and offered for sale. In order that
these are within reach of everyone’s investment capacity, the
price of these bills will be kept low, and a discount will be offered
for early subscribers.
The next day, by artificial means, the price of them goes up; the
alleged reason being that everyone is rushing to buy them. In
a
few days the treasury safes are so-to-speak overflowing and there's
more money than they can deal with. The subscription, it is
alleged, covers the issue of the loan total many times over.
And
in this lies the whole stage effect – “Hey
look”,
they say, “What confidence is being shown in the government's
bills of exchange”.
- But once the comedy has played out, there emerges the fact
that a debit (and an exceedingly burdensome debit) has been
created. In order to pay the interest on this debit it
becomes
necessary to take out new loans, which do not reduce, but only add to
the debt owing.
And when this credit is exhausted it becomes necessary to introduce new
taxes to cover, not the principal of the loan, but only the interest on
it. These taxes are a debit created to cover a
debit...
- Eventually the time comes for converting the
interest-bearing
paper into cash. But due to the large debit problems
described
above, the government announces that it will need to reduce the payment
of interest without covering the principal portion of the
debt.
And another problem they will claim is that they can’t do
this
conversion without the consent of the lenders; many of whom are not
willing to convert their paper.
If everybody expressed his unwillingness and demanded his money back,
the government would be hooked on their own promises and would be found
insolvent and unable to pay the proposed sums.
But fortunately for the Goy governments, their subjects of know nothing
about financial affairs and have always preferred losses on exchange
and reduction of interest to the risk of new investments of their
moneys. This trick has enabled these governments to throw a
debit
of several millions off their backs on many occasions.
- Nowadays, with external loans, these tricks cannot be
played
on us by the Goyim because they know that we shall demand all our
moneys back.
- In this way, acknowledged bankruptcy will prove
to the
people of various countries that their rulers do not have the financial
resources to look after them.
- I beg you to focus your attention upon this point and upon
the
following: nowadays all internal loans are consolidated by so-called
short-term or ‘flying’ loans, that is, they have
terms of
payment more or less near.
These debts consist of moneys paid into the savings banks and reserve
funds. If left for long in the hands of a government, these
funds
will evaporate by way of payments of interest on foreign
loans.
But the funds are placed on deposit at these banks for equivalent
amount of rents.
- The rent (interest) paid by the banks on these deposits
should
cancel the interest payable on foreign loans and patch up all the leaks
in the State treasuries of the Goyim.
- When we ascend to the throne of the world all these
financial
and similar types of transfers will be swept away so as not to leave a
trace because they are not in accord with our interests. All
money markets will also be destroyed, since we shall not allow the
prestige of our power to be shaken by fluctuations of prices set upon
our values. We shall announce, by law, the price of
securities
which represents their full worth without any possibility of lowering
or raising it. (Raising gives the pretext for lowering, which
indeed was where we made a start in lowering the values of the Goyim.)
- We shall replace the money markets by grandiose
government
credit institutions, the purpose of which will be to fix the price of
industrial values (stock prices) in accordance with government
views. These institutions will be in a position to fling upon
the
market hundreds or millions of industrial bonds in one day, or to buy
up the same amount. In this way all industrial
undertakings
will come to depend on us. You can imagine what immense power
we
shall secure for ourselves in this way.
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