CHAPTER THREE

The Erosion of Democracy through Banking Practices

What has transpired from the creation of a National Bank under the British model, is that presently most countries currency is issued in debt. It is loaned out by affiliated chartered banks, at the current interest rate, without any currency being sent in circulation for the future interest fee.

For example, if 10 people each borrowed $100, this would bring $1,000 into circulation. Using an interest rate of ten percent, at the end of one year there must be $100 allotted for the interest leaving only $900 to be divided up between ten debtors who must pay back the $1,000. This guarantees that there must be at least one bankruptcy in the process and likely more.

This example, in a microcosm, clearly shows us tragic flaws in our currency-issuing process. A process which is very unfair to the borrowers but also highly detrimental to our economy as a whole. It is obviously beneficial to the banks in getting secured assets that backed these loans. This is why usury has been condemned in various cultures over many centuries. In the early days of Christianity and during the lifetime of Islam, usury has been considered a crime against humanity.

Under the current system, affiliated chartered banks get their currency from a central bank at the cost of printing. Thus, they expend a minimal amount of money and reap tremendous profits. Through the fractional reserve (or non-reserve requirements as now allowed in Canada), they are able to multiply their assets on paper. Through this method, immense and obscene profits are achieved, on the backs of the people.

The way in which many countries get money for the operation of their government’s infrastructures (such as social programs) expands the national debt tremendously. In Canada, we have two processes for the federal government to obtain money.

The first process used, was to issue the money directly to government as an IOU from the Treasury, at a minimal administrative fee. This process was written into our British North America Act of 1867. The authors of the act recognized the dangers of outside powers creating the national currency and so, in order to protect the citizens, wrote the act so that only the government had the right to issue currency.

The second process, developed through the bank’s influences and implemented with the Bank Act of 1913, is to first issue the currency to the affiliated chartered banks at a minimal fee. The government then creates bonds and treasury bills and pays a brokerage fee to issue them. The government then sells them at the current compounded interest rate on the open market. The banks, who invest heavily in the bonds, receive immense profits by using the currency originally issued, at a minimal fee, from the Treasury through the Bank of Canada.

While both of these processes are still in place and functioning in Canada, less than 3% of our currency is issued under the first process. In agreement with the Bank of Canada, the affiliated chartered banks receive and issue over 97% of our new currency for which they pay a minimal cost.

Using an example of $1 Million borrowed 80 years ago under the two systems, you will clearly see the danger of the second process. Under the first process, the Treasury directly loans the money to the Government as an IOU at an administrative fee of 1.5 %. The cost, if the debt is rolled over as is presently done, would result in a debt of $1.2 Million.

Under the second process, $1 Million borrowed at a 7% interest rate and compounding, on a rollover practice of borrowing from the outside market to pay the outside market, results in a cost over $223 Million. For Canada, 7% is a low interest rate. Still the cost of the second process is over 200 times more than the first process and will continue to expand at an exponential rate.

This second process is obviously to the extreme benefit of the banking community and to the great detriment of the taxpaying public who are carrying the burden of the government’s debt. As we realize, these funds are being bled out of our social programs and national services. We soon understand the tragedy involved, whether it be in Medicare, hospitals, schools, U.I.C. or pensions.

Finally, we see that due to this process, Democracy cannot function. Our elected representatives are at the mercy of the banking community to keep our country operating.

The solution is to have all our government needs issued as an IOU to the Treasury. This process is what both Solon of Athens and Lycurgus of Sparta instituted to free their city states from the Babylonian banking controls ruining their respective city states. History repeats itself.

We know that there are great pressures to abuse the currency-creating process placed on parties and elected officials. This is why highly functional Recall and binding Initiative Referenda processes must be in place to allow the citizens to control the amount of currency issued. A good example of this is found in the Swiss constitution.

I consider it a criminal act of treason against the populace of a country to knowingly continue pushing the nation and it’s citizens into debt slavery. This is the aim of a self-appointed elite in the banking circles, the World Bank and I.M.F., who work for the deliberate detriment of the Divine seed light in humanity and for the Luciferian consciousness.

Those spirits who have attained the momentum of Guardians of Democracy must dare to take up the challenge in this lifetime. We must work to stop the enslavement of mankind and the repression of the seed light in humanity, by those who have knowingly dedicated themselves to the fallen ones.

The Luciferians have always used the same process in controlling countries. They’ve always focused on the issuing of a nation’s currency, as this is the life’s blood of any nation. Through this process they have total control of the economy. Through the creation of depressions or booming economies, they exercise total control over rulers and elected governments.

I suggest you elect to work with Archangel Michael and the Angel Victory, who was beautifully depicted in the Samothracian Mystery school.