Suboptimal subprimes

Although our global news do their best to prevent people from thinking, by terrorizing them with their inflated fairy tales about the global threat of terrorism, another scare was invented to distract the world's population from the systematic abuse of entire populations: The US subprime crisis.

I worked for years in the financial industry, and used this time as good as I could to understand our global monetary and economic system. So much I would like to give you an easy, logical explanation for the current craze that haunts the globe, I cannot. What I learned about it was sufficient to draw personal consequences, but our economic system does not work along logical rules, it compares better to casino games.

The global monetary system as we use it at the beginning of the third millennium (according to the counting of the Christian world) maintains simply the support of a chosen few on the expense of the worlds population. Some breadcrumbs are spread towards the former middle-class of Western societies to create the illusion of "equal opportunities in the market", but like with a game of roulette, the banks always win.

Hold on, you might say, even banks can go bankrupt, and they did so in the past. Well, in comparison to any other businesses this rarely happens, and it never endangers the monetary system as such. Money, and having heaps of it, was only the first step to enslave the population. The next step in sucking the population dry was to convert money into property, which endures longer than currencies that came and went over the course of history.

Taking control over formerly common physical resources prevented communities from becoming independent and self-reliant. Although land-grabbing remains popular, stealing common knowledge with copyrights, patents and intellectual property created a society entirely dependent on the whims of those owning the Central Banks of this world.

Central Banks like the Federal Reserve, the Bank of England or the European Central Bank carefully maintain the idea that they are some sort of public institution, which never held true. No central bank is democratically controlled, nor do they protect any other interest than their very own.

The energy required for our economic system, money, is controlled by a minority that takes a share in any official transaction that happens (not to mention places like CitiBank, which profits a lot from laundering drug money). Taxes, leases, tenures, rent, Intellectual Property fees and interest put enormous wealth in the pockets of the maintainers of money.

Money, as we all know, does not grow on trees. It is produced by debts, and backed by nothing but our believe in the trustworthiness of their issuers. Economic crisis, like it happened in 1929, can endanger this trust, but it's just a special form of magic that keeps this funny system alive.

Our secret masters, central bankers of this planet, forced their string puppets, also known as politicians, to guarantee a monopoly for issuing the tools to exchange economic energy. This is the meaning of "legal tender", which is printed on the pieces of paper called banknote in the English speaking world. (The Euro banknotes do not even contain any hint on legal tender, they display a copyright notice instead).

Of course, using money for economic exchange has a lot of pragmatic advantages. The illogical nature of our current monetary system, however, means that we feed some parasites who were given the (absolutely undemocratic) privilege to control the currency. The basic flaw is its inherent insustainability, due to the fact that we feed some selfish 'queen bees' of our human hive, who, unlike the queens of a beehive, don't really care about the fate of their fellows.

Those in charge of the monetary system defend its current emanation with teeth and claws, or rather laws and wars. The value of money consists in an agreement, but doesn't exist inherently. Agreements can change, our fixation on debt-based money is a bit like claiming that cricket is the one and only permissive way to play a ball game.

Yet, instead of setting up a sustainable monetary system, the ruling parasites rather fix the system whenever it's on the verge of collapse (which happens quite often lately). Usually any fix involves a bit of collateral damage, but this affects mainly the users of the system (which haven't transform magic papers into property). Any instability offers a splendid opportunity to increase inflation, a typical disease of the current system.

The subprime crisis doesn't really harm the banks - it just transforms interest payments over the new decades into property. Surely, some players on the end of the hedging game will loose some money, but they are less hard hit than anyone that looses their house. There might even be a dent in the growth of profits for some banks. But as long as the bankers don't decide to burn those houses that they own know instead cashing in on them in long term, their game of dominating the monetary affairs of the rest of the world goes on. And on. And on.

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