1. Abolition of private property in land and application of all rents of land to public purpose.
2. A heavy progressive or graduated income tax.
3. Abolition of all rights of inheritance.
4. Confiscation of the property of all emigrants and rebels.
5. Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.
6. Centralization of the means of communication and transportation in the hands of the state.
7. Extension of factories and instruments of production owned by the state; the bringing into cultivation of waste lands, and the improvement of the soil generally in accordance with a common plan.
8. Equal obligation of all to work and the establishment of industrial armies, especially for agriculture.
9. Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country by a more equable distribution of the population over the country.
10. Free education for all children in government schools and abolition of children’s factory labor in its present form – combination of education with industrial production, etc.
See commentary on the progress of these points at LIST OF 10 PLANKS of the COMMUNIST MANIFESTO – Watchwoman on the Wall
Monsanto tells the public it is not their job to ensure safety of their products; it is the job of the FDA. The FDA tells the public it is not their job to ensure safety; it is the job of the food producer. Patricia says it’s your job to ensure the care and feeding of your body… and mind.
If you put low-lead gas into a car that requires diesel fuel, it will not run well – and if you put diesel fuel into a car that requires low-lead gas, it will not run well. If you put sugar in your tank, it will destroy your engine. Try running it on grains and other plants sprayed with glyphosate, the deadly ingredient in Roundup.
Please watch what you put into your mouth very carefully, because if you put commercially (as opposed to organically) grown foods into your mouth, you might just be taking your life into your own hands. If your body is less than radiantly healthy, you might want to check what is going into it. And what is the rational response when one discovers s/he is being poisoned by industrial foods?… to stop patronizing the criminal organizations that are poisoning the world’s farms. Don’t buy it; don’t eat it. You owe it to yourself… and you’ll save when you don’t have to buy pharmaceutical drugs to “cure” whatever it is that ails you, which was caused by .
Grow a garden… without chemicals. Just soak the soil, put a seed down, cover it with a little soil, keep watered until it sprouts and then water gently after that. Things grow! Nature is not stupid. It’s been doing quite well for thousands of years without chemicals that require hazmat suits. The yield on organic farms is no less than that on farms sprayed with chemicals. We’ve been had, folks. Let’s turn it around. In WWII, everyone had a “Victory Garden”. Let us now declare our victory over a food system that has made us sick. And now to Jon Rappoport’s article on “our friend”, the Food and Drug Administration.
The use of the term “FDA” should be the trigger for immediate investigation, whenever it appears. For example, “The FDA has ruled (name of drug) is safe and effective.”…
July 26, 2000, Journal of the American Medical Association, Dr. Barbara Starfield, Johns Hopkins School of Public Health, “Is US health really the best in the world?”: Medical drugs kill 106,000 Americans per year. That’s a million killings per decade.
Every one of the killer drugs is certified as safe and effective by the FDA, the Agency tasked with protecting the health of the American people.
Example: Vioxx was approved for use by the FDA on May 20, 1999. Eventually, it caused 88,000-140,000 cases of heart disease. Conservative death-toll number? 60,000. (An estimated 58,000 American troops died during the Vietnam War.)…
In a stunning interview with Truthout’s Martha Rosenberg, former FDA drug reviewer, Ronald Kavanagh, exposed the FDA as a relentless criminal mafia protecting its client, Big Pharma, with a host of mob strategies (“Former FDA Reviewer Speaks Out About Intimidation, Retaliation and Marginalizing of Safety,” 7/29/2012).
Read much more at Use of term “FDA” should always trigger a warning « Jon Rappoport’s Blog. Other good reads are: Ralph Nader and James Turner’s The Chemical Feast and Seeds of Deception by Jeffrey Smith.
This entire article is full of inspiration…
We currently live in a mad world that is based on fear, greed and scarcity. It is considered completely normal for people to spend the majority of their waking lives toiling in jobs they hate. Economic inequality has reached a point of staggering absurdity where many people slaving away in full-time jobs can barely even meet the basic survival needs of their families, while others lounge around on $200 million yachts and have ridiculously decadent luxury homes around the world…
The amount of human energy and resources that go into designing, making, promoting, and distributing cheap, useless products in this consumerist society is phenomenal. Then to add to the madness, these shoddy, chemically altered, often disposable items are quickly discarded as waste, increasing the huge amount of toxic pollution generated by this lifestyle. Then there are the ongoing unnecessary wars that have shameful costs at both a human and economic level…
Why do we collectively continue to support, maintain and even fight for a system that the majority of us are unhappy with? A significant part of the answer, I suspect, lies in the fact that though there is only a tiny faction of society that really benefits from the existing system, this minority have become masters of public deception and manipulation. By funding universities, political parties, critical think-tanks, interest groups, and by controlling Hollywood and the mainstream media, the global ‘elite’ (with their shared common interests) are able to influence and mobilise group-think in order to ensure that popular beliefs and assumptions are aligned with their aims. Their rhetoric permeates our reality like a hypnotic spell that has taken root deep in the collective psyche…
THE SEVEN PROPHECIES OF JAMES , LAST SCION OF MARY, MOTHER OF YESHUA
presented by KERTH BARKER on January 16th, 2016
Before presenting the seven prophecies, I must make some things clear.
I am not claiming that I, myself, am a prophet of God. There is a man, that I have known since I was a teenager, that I know as James, that I believe may be a prophet of God. It is not really my place to judge whether or not he is one. I am not demanding that you accept him as one. I am simply saying that I have some reason to believe that he might be.
Furthermore, although I think that it would be a good thing if Russia defeated ISIS in Syria, most of these other prophecies describe events that I think would be tragic, or they describe events which I do not understand as of yet. Of these seven following prophecies, several of them describe events which I personally would strongly prefer never take place in the world. I am not presenting these prophecies because I want them to happen. For the most part I would prefer that they not happen. As well as this, I don’t believe that James or his followers have an ability to make these prophecies come true. If they were to take place, they would be events that could not be the result of the actions of any one person or covert group.
But a prophet of God has the job of knowing God’s will and describing God’s judgement upon the world before it takes place. Even James himself has agreed that if these events never take place, then they are not true prophecies. However if they do take place as described, then they are true prophecies. Only time will tell if these turn out to be true prophecies. However I want to make it very clear that by presenting these seven prophecies I am not trying to make the events described in them actually take place in the world. In fact I would be happy if most of them do not take place. But if they are actually the will of God, there is nothing that could be done to stop them. And in the fulness of time, I know that God’s will is always good.
I am aware that even by presenting these seven prophecies I am likely to offend most of the people who read them. It is not my desire to offend anyone. However, out of friendship for James I feel that I must do as he has asked me and present them to the world. Even in presenting them I know that I am risking my credibility. And in truth I may be risking much more. Perhaps if you read this article carefully and in its entirety, you will come to understand why I felt I had to present these prophecies as James intended me to. Also you should know that in presenting the prophecies here below I am quoting James exactly.
The Seven Prophecies:
#1 ISIS will be defeated by Russia in Syria and the UNITED STATES will be humiliated as its support of ISIS becomes known to the the International Community.
#2 Zionists in Israel will tear down the Dome of the Rock with the intention of building a Hebrew Temple.
#3 The Desecration of the Dome of the Rock will incite widespread violence around the world against Jews by Muslims. This will create regime change in Israel.
#4 A Nuclear Bomb will destroy Mecca, sent by Jews in Response to Muslim violence.
#5 Israel will be taken over and occupied by the United Nations.
#6 A multicolored pyramid of glass will be built in the place of the Dome of the Rock and it will be dedicated to all religious faiths and non-religious philosophies of humanity.
#7 An International Conference on Environmentalism and Space Colonization will be held in Israel and it will determine a common set of laws by which all the nations of humanity will live by.
Before I tell the story of how James came to present these prophecies to me, I should let you know three things. In a conversation following his presentation of the prophecies, James made it clear to me that the prophecies would take place in a sequential manner. This is the order that James believes that these events will take place — in sequence — #1 through #7. However, the time line for the fulfillment of the prophecies is not clear. They could take place over the next hundred years or the next four years. The third point is this. In talking with James about them, I commented that the prophecies #5, #6, and #7 sounded as if they could represent the New World Order’s takeover of the world. For years, both James and myself have opposed the Illuminati’s New World Order Global Government. James replied that in spite of my doubts, the prophecies #5, #6 and #7 represent the Illuminati’s downfall whereupon they lose control of the world. So instead of a Global Government, some type of international democracy movement will arise which puts an end to the New World Order. However, James did not want to explain the prophecies in detail, so these particular events are something which I must admit that I do not fully understand at this time. But if these events do in fact take place, such questions will be answered by the events themselves.
I will go into a more about these seven prophecies toward the end of this article. But before I do I think it best that I tell the story of my friendship with James, and why I call him the Last Scion of Mary, the Mother of Yeshua.
I first met James when I was a teenager. Then James was a member of a secret society of librarians who called themselves the Gentle Followers of Mary. They helped me to escape from a cult that had subjected me to Satanic Ritual Abuse. I’ve written about this in my book, Angelic Defenders and Demonic Abusers. However without going into my own story, one thing I can tell you about James is that the Gentle Followers of Mary believed that he was someday going to become a true prophet of God. In fact, they believed that he was going to become the prophet of God who would herald the Apocalypse. I think you need to appreciate that being raised by a kindly group of people who believed that he was going to grow up to be the prophet of the Apocalypse resulted in James having an unusual childhood. I think that this expectation which the Gentle Followers of Mary had for James was a heavy emotional burden to lay upon the shoulders of a young man. I should also mention that the name James is not his legal name, not the name that would be on his birth certificate. This is because everyone in the Gentle Followers of Mary had special names that they only used within their secret society. They named him James because they believed that he was a descendant of James the Just, who was the brother of the historical Jesus.
The Gentle Followers of Mary thought of the historical Jesus as the first scion of Mary. So this would mean that Jesus was the Alpha. And they believed that the last scion of Mary would be the Omega. The Omega would be the prophet of the Apocalypse. The historical Jesus referred to himself as the Alpha and the Omega. The Gentle Followers of Mary interpreted that line from the Bible in a unique way. They believed that the historical Jesus, whom they referred to as Yeshua the Messiah, was brought into the world primarily for the purpose of destroying the rule of Satan on Earth. They believed that Yeshua, the first scion of Mary, had begun the work that would ultimately set the seeds of destruction for Satan’s reign on Earth. However, although that work by Yeshua would be most important, it would be the last scion of Mary who would do the final work of this process. The last scion of Mary would present to the world a series of prophecies which would foretell how God Almighty was to bring about the final end to Satan’s reign.
Although James was a member in good standing in the Gentle Followers of Mary, and although he loved them all, as a young man he decided that he did not want to be the prophet of the Apocalypse. So he married a woman, had children by her, and thus those children also became the scion of Mary, mother of Yeshua. When these children grew up, they had other children, thus even more scion. So it seemed that through reproduction, James had avoided being the Last Scion.
But in time, it would turn out that James could not escape his fate. And so, because of tragic circumstances, James, in the fullness of time, would in his old age once more become the Last Scion of Mary. So according to the secret doctrine of the Gentle Followers of Mary, Yeshua the Messiah was the Alpha, and his work is now in our generation to be completed by James, who is the physical incarnation of the Omega in the world, the prophet of the Apocalypse. The idea is that James is a willing vessel through which Yeshua, who is now in Heaven, can bring about the Apocalypse in the world. So technically, Yeshua is still both the Alpha and the Omega, but it is through James that Yeshua brings his divine presence into the world to reveal the prophecies that herald the Apocalypse.
If the reader of this article has difficulty understanding what I am writing here, I apologize. My main intention is to write this article for the benefit of my friend James who has recently suffered a tragic loss. But I will try to make these ideas more understandable to the reader by explaining a little more of my story and my relationship with James. And in order to understand James, you must understand something of the Gentle Followers of Mary. This was a secret cult of librarians who went back to at least medieval times. They kept up secret libraries of what the Church of Rome would have considered to be heretical books. For a price, they would allow wealthy aristocrats, who had an interest in such books, to come to one of their secret libraries and read such books. The Gentle Followers of Mary were also interested in following ancient royal bloodlines. Up until the 1800s, they had a number of libraries in Europe. However, agents of the Church of Rome would hunt down and kill the Gentle Followers of Mary and steal their books which would then be locked up in the Vatican library. Because of such attacks against the Gentle Followers of Mary, they eventually abandoned Europe and set up a final secret library in the midwestern United States. They had intense procedures for maintaining the secrecy of their group and their library. James was the youngest and last member of their group. I may be one of the last persons in the world who personally knew these secret librarians, and that is an emotional bond that connects me with James. These secret librarians believed that I am one of the many descendants of King David, and that is one reason why they allowed me to have access to their secret library. The Gentle Followers of Mary believed that a number of important bloodlines are represented in James. They believed that not only is he a descendent of Mary, mother of Yeshua, but also that he is a true Scion of Queen Cleopatra, who was also known as the goddess Isis. However there are countless scion of Isis, many of whom are not even aware that they are such. However, at first, the agents of the Pagan Roman Empire, and then later, the agents of the Holy Roman Church, would secretly hunt down and kill off the scion of Mary whenever they could be found. So the scion of Mary dwindled in size until they were reduced down to one man, my friend James. James tried to create even more scion, by having children who then gave him grandchildren. But a Luciferian cult that hides in the Vatican recently hunted them down and killed all of the scion of Mary except for James. His near assassination was apparently a close thing, thus James believes that its was the power of God Almighty that spared him. So now James is forced to accept that he is the Last Scion. Therefore James is unique because he is a Scion of Isis as well as the Last Scion of Mary. And according to the beliefs of the Gentle Followers of Mary, the prophet of the Apocalypse must be both. Personally I never understood this point of doctrine, but this is how the Gentle Followers of Mary saw things. The Gentle Followers of Mary claimed to have access to ancient books which prophesied this, and it was the Gentle Followers of Mary who raised and trained James to prepare him for this role.
Now I wish to make something clear. When I talk about the beliefs of the Gentle Followers of Mary, I am talking not about my own beliefs but about theirs. I am a Christian, and my basic beliefs about Christianity are those of a standard protestant. But it was the Gentle Followers of Mary who first got me interested in Christianity, and when I was young I was influenced by their beliefs. They were extremely well read, and most of them could read and write in numerous ancient languages such as Hebrew, Latin and Greek, as well as other languages. Their belief system was complex and in truth I don’t believe I ever fully understood it.
James was raised within this unique and complex belief system. However the other members of the Gentle Followers of Mary would eventually die off of old age. This left James, who was much younger than the rest of them, alone in understanding this philosophy of theirs. However he had married a beautiful woman, and she was not of this cult. And her beliefs were typical of a protestant Christian. And in time, James would tell me that his beliefs became like those of most other traditional Christians. Over the years, when his wife and children still lived, after the death of the other members of the Followers of Mary, James came to believe that he was not actually the prophet of the Apocalypse, but nonetheless he remained deeply committed to his faith in Christianity.
He secretly organized with other people to oppose the Illuminati in various ways. He worked with persons who understood remote viewing and remote influencing. These were Christians who were ex-military and had come to realize that the Federal government of the United States is really a Luciferian theocracy. When I was a young man James taught me how I could use psychic shielding to protect myself from Satanists. And he conditioned my mind so that I could not be remotely influenced by any person other than himself. He did this sort of thing with some of his other followers. Most of his followers are pretty dedicated to him, as am I. This remote influencing isn’t brainwashing, rather it’s sort of consensual psychic remote control with James as the controller. For several decades I had little direct contact with James but there was the occasional contact whereupon he would direct my education in Christianity and maintain his psychic link with me. I don’t know what James and his followers were involved with during this time, except that they were opposed to Luciferianism in some way. And they seemed to be organized with a military structure and many appeared to have some degree of martial training as well as covert ops trade craft. But as I said, I had little to do with them. However, I do know enough about them to know that they don’t have the resources which would allow them to make any of the prophecies described above take place. So they wouldn’t have a nuclear bomb or anything like that. I would describe the followers of James as Christian survivalists with psychic training. And they try to help people who speak out against the New World Order.
However, in spite of seeing little of him for decades, a few years ago James begin to come back into my life. I was involved with producing and sometimes appearing on a radio program where I would talk about the Illuminati. After that I started publishing articles on the internet. Eventually I began to write and publish books. And all of this was because of the direct influencing and remote influencing of James. So the hidden hand of James has been behind all of my books and videos.
A few months ago I sensed that something terribly wrong had happened to James. Through my psychic link with him I felt that there something really tragic had happened to him. One of the followers of James later contacted me and told me that there had been an attempt on the life of James and his family. His wife, all of his children, and all of his grandchildren were killed by Luciferians. And James was nearly killed and barely escaped with his life.
There is a certain significance to this tragic event that should be appreciated. At this time in his life James is not going to have any more children. Because of the reason of old age, and other factors, there is no chance that James will produce any more scion of Mary. So it turns out that in spite of his efforts, James is the Last Scion of Mary. And according to the beliefs of the Gentle Followers of Mary, the prophet of the Apocalypse must be a Scion of Mary as well as being a Scion of Isis. So it can be nobody but James who fulfills this role. Which means that James has become the reluctant prophet of the Apocalypse.
After he processed his grief about the death of his family members, James eventually began to have direct meetings with me. He told me that after the death of his family he had gone alone into the wilderness for 14 days and while sitting on a hillside had experienced seven visions given to him by God. This was while he was in a trance state due to exposure. I have to say that James looked very weak and unhealthy when I saw him last and all of his hair and beard had turned white. James is very precognitive, but usually he uses a remote viewing procedure to acquire precognitive information. But these visions were different than his remote viewing experience, and it was clear to me that he felt that these visions had come from God.
In talking with me James was kind to me and made it clear that he would understand if I had some doubts about the validity of the prophecies. And if anyone else, other than James, came to me with such statements, I might be tempted to dismiss them out of hand. But because of my experiences with James and the Gentle Followers of Mary, I feel I must take James seriously, and besides, I can’t say “no” to anything which James might ask of me.
In presenting these prophecies I’m sure that James understands that I feel the need to express the fact that I am not encouraging anyone to commit acts of violence or terrorism. The truth is that I don’t want the Dome of the Rock torn down, I don’t want Muslims to kill large numbers of Jews, and I don’t want Mecca destroyed by a nuclear bomb. Nevertheless I must acknowledge that I don’t have control over the events of the world and if something really is God’s will, there is nothing I can do about it. But it is my hope that these event do not actually take place in the world. With all due respect to James, I think that it’s fair that I say that.
In talking with James I asked if perhaps the visions were symbolic and not literal. He didn’t get angry but he was very adamant that the visions were literal and not symbolic. I asked if perhaps some of the visions were warnings and perhaps if human beings were to change their behavior then the visions would not have to take place. Again he was adamant in his belief that it was too late and that nothing could stop these events.
These meetings with the followers of James and James himself were very emotionally charged events, I felt very upset by the tragic news of what had happened to the family of James. And the visions described to me were very upsetting to hear. But I wrote them down exactly like James instructed me. And the 7 prophecies are presented above exactly as James spoke them to me. During our last meeting, James read my notes carefully and instructed me to present the prophecies exactly as I have done above.
James explained the prophecies to me in this way. The Apocalypse is not what most people think it is. It is not the end of the world. It is the end of the Luciferian world view. About six thousand years ago, during the year of light, the era of Luciferianism began. The essence of Luciferianism is a process by which aristocrats use falsehood (a false model of the world) to control the minds and the behavior of the common people. Thus the average person becomes enslaved. The Apocalypse is a series of dramatic events in which this veil of illusion is torn away. This means that the human population instead of being manipulated by the false model of reality presented by Luciferian secret societies will instead come to see the world for what it really is. So the Apocalypse is a kind of process in which God influences the events of the world so that Truth overcomes Falsehood and that an accurate perception of Reality overcomes the persistent Illusion presented by Luciferian secret societies. So that the Apocalypse is really a brutal healing of the psyche of humanity. And ultimately it frees humanity.
Also it is true to say that the Illuminati presently has plans to ultimately kill billions of people around the world and to enslave all those they spare. So even thou the Apocalypse would result in the deaths of perhaps millions of people, it would still be much less brutal than the plans the Illuminati presently are trying to enact. After all, we do live in the end times, and therefore no matter how the events of the world unfold, large numbers of people are going to die. God’s plan for the Apocalypse would certainly be kinder and more just than the Illuminati’s insane plans to kill billions of people and enslave all of the survivors of their depopulation agenda.
And so it was after some discussion James and myself had a meeting of the minds.
I promised James that I would publish this article, which you have read here, on the thoughcrimeradio website. As well as this, if or when these prophecies do begin to take place in the world, I have promised James that I will publicly call attention to the fact that it was James, the Last Scion, who made these prophecies.
In my last meeting with James, he told me that I would never see him or any of his other followers in this world ever again. He told me that once he reads this article on the thoughcrimeradio website, he will then leave this world in this way. He said that he will go by himself out into the cold regions of the wilderness without food or protection, wearing only shoes, pants, a shirt and a light coat. He said he will walk quickly into the deep wilderness where no one can find him. And when he is exhausted, he will sit down in the cold and wait for God to take him up into Heaven where he will reside with his beloved family once more.
To James I say this. It is with tears in my eyes that I write these words. I have written this article as you have instructed out of friendship and respect for you. You saved my life on more than one occasion and you helped to save my soul. And for this I am grateful. I hope that you find the peace of spirit that you so richly deserve. Your work in this world is done. When next we meet, it will be in Heaven. Until then I remain the faithful servant to your will.
An amazingly clear presentation. Proves to me how practical it would be to turn the military-industrial complex into an infrastructure building and maintenance program. Imagine if we focused all those resources, all that talent, currently employed by the military and armament corporations, and steered the whole shebang into providing education, communication, transportation, irrigation, agriculture, for the world. What if we used all those resources that currently go to creating mayhem, death and destruction, to the support of life for everyone, everywhere? But then, that would require a sane bunch of leaders who value life more than power, profit and the “god” of war.
Highly recommended for anyone who wants to avoid or reverse cancer.
See and read more at The Truth About Cancer
See also the Rockefeller Medicine video by James Corbett
Just in case someone out there might want to challenge the direction this country is taking… Eustace has some very good experience and interesting ideas about using the legal system.
On April 8, 2015, Robert Kennedy Jr. stood on the State Capitol steps and delivered this address in support of the SB277 rally. He explained how the powerful pharmaceutical cartel has captured the U.S. scientific, regulatory, and legislature processes, as well as the corporate news media, which relies heavily on drug advertising. Big pharma dictates vaccine talking points that contradict scientific fact.
He concluded his remarks by emphasizing that legislation such as California’s SB277 takes away the last barrier between the pharmaceutical companies’ monetary mentality and innocent children.
So much insanity in ever area these days. Appears someone likes chaos.
1. Threaten to hold back a straight-A student for serving her country. A 13-year-old, straight-A student in the Washington D.C. school system was recently labeled a truant. Her crime: excelling at the piano. The young girl is so gifted musically that she has played around the world and was hand-picked to serve as an international music ambassador by a prestigious foundation. So, she travels a good bit. But … she has maintained straight-A grades anyway. Though the D.C. school district does have the ability to override its attendance policy for extenuating circumstances, the wise owls atop the failing district decided that being a prodigy on a global level just doesn’t cut the mustard.
2. Arrest a frightened teenager for checking in on her sick mother. In Houston, a teenager at Sam Houston High was using her cellphone to deal with a family emergency — her ill mother. The school’s assistant principal demanded the teen’s phone because of an asinine policy about cellphone usage on campus. The teen refused because — again — she was dealing with a family emergency. But the assistant principal, displaying an amazing grasp of rationality, had already called for back-up — the police! And thus it was that a 4’10”, 70-pound girl, upset about her ill mother, found herself on the ground, the victim of jackbooted oppression. One cop pressed his knee on her skull while a second sat on her legs and handcuffed her. A third loomed nearby — you know, just in case the 4’10”, 70-pound villain overpowered the two substantially larger men of law and order.
3. Throw a student in detention for sharing his lunch. Remember that golden rule you learned as a kid: Sharing is caring? Well, not so much in Weaverville, California. For his act of kindness — sharing part of his chicken burrito with a friend who was hungry — a 13-year-old boy landed in detention. “It seemed like he couldn’t get a normal lunch,” the teen told a local TV station, “so I just wanted to give mine to him because I wasn’t really that hungry and it was just going to go in the garbage if I didn’t eat it.” To which the school responded that sharing food is prohibited because of food allergies and whatnot. That’s a legitimate reason … but detention is not a legitimate response to a non-crime. Weaverville, have you ever considered pulling the student aside to explain why the policy is in place instead of rushing to punish an act of kindness?
One could slash private debt by 100pc of GDP, boost growth, stabilize prices, and dethrone bankers all at the same time. It could be done cleanly and painlessly, by legislative command, far more quickly than anybody imagined.
The conjuring trick is to replace our system of private bank-created money — roughly 97pc of the money supply — with state-created money. We return to the historical norm, before Charles II placed control of the money supply in private hands with the English Free Coinage Act of 1666.
Specifically, it means an assault on “fractional reserve banking”. If lenders are forced to put up 100pc reserve backing for deposits, they lose the exorbitant privilege of creating money out of thin air.
The nation regains sovereign control over the money supply. There are no more banks runs, and fewer boom-bust credit cycles. Accounting legerdemain will do the rest. That at least is the argument.
Some readers may already have seen the IMF study, by Jaromir Benes and Michael Kumhof, which came out in August and has begun to acquire a cult following around the world. …