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books:the_protocols_of_the_learned_elders_of_zion:loans_and_credit [2020/05/02 15:19] (current)
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 +====== Protocol No. 21 ======
  
 +[[the_protocols_of_the_learned_elders_of_zion:the_protocols_of_the_learned_elders_of_zion|The Protocols Of The Meetings Of The Learned Elders Of Zion]]
 +
 +<html>
 +<p>1. To what I reported to you at the last meeting I
 +shall now add a detailed explanation of internal loans. Of
 +foreign loans I shall say nothing more, 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. </p>
 +<p>2. We have taken advantage of the venality of administrators and
 +slackness of rulers to get our moneys twice, thrice and more times
 +over, by lending to the GOY governments moneys which were not at all
 +needed by the States. Could anyone do the like in regard to us? ....
 +Therefore, I shall only deal with the details of internal loans. </p>
 +<p>3. States announce that such a loan is to be concluded and open
 +subscriptions for their own bills of exchange, that is, for their
 +interest-bearing paper. That they may be within the reach of all
 +the price is determined at from a hundred to a thousand; and a
 +discount is made for the earliest subscribers. 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, as they say, overflowing and there's more money than they
 +can do with <i>(why then take it?)</i> The subscription, it is
 +alleged, covers many times over the issue total of the loan; in this
 +lies the whole stage effect - look you, they say, what confidence
 +is shown in the government's bills of exchange. </p>
 +<p>4. But when the comedy is played out there emerges the fact that
 +a debit and an exceedingly burdensome debit has been created. For
 +the payment of interest it becomes necessary to have recourse to
 +new loans, which do not swallow up but only add to the capital debt.
 +And when this credit is exhausted it becomes necessary by new taxes
 +to cover, not the loan, BUT ONLY THE INTEREST ON IT. These taxes
 +are a debit employed to cover a debit .... <i>(Hence THE CRY TO
 +BALANCE THE BUDGET!)</i> </p>
 +<p>5. Later comes the time for conversions, but they diminish the
 +payment of interest without covering the debt, and besides they
 +cannot be made without the consent of the lenders; on announcing
 +a conversion a proposal is made to return the money to those who
 +are not willing to convert their paper. If everybody expressed
 +his unwillingness and demanded his money back, the government
 +would be hoist on their own petard and would be found insolvent
 +and unable to pay the proposed sums. By good luck the subjects of
 +the GOY governments, knowing nothing about financial affairs, have
 +always preferred losses on exchange and diminution of interest
 +to the risk of new investments of their moneys, and have thereby
 +many a time enabled these governments to throw off their shoulders
 +a debit of several millions. </p>
 +<p>6. Nowadays, with external loans, these tricks cannot be played
 +by the GOYIM for they know that we shall demand all our moneys back. </p>
 +<p>7. In this way in acknowledged bankruptcy will best prove to the
 +various countries the absence of any means between the interests of
 +the peoples and of those who rule them. </p>
 +<p>8. I beg you to concentrate your particular attention upon this
 +point and upon the following: nowadays all internal loans are
 +consolidated by so-called flying loans, that is, such as 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 at
 +the disposition of a government these funds evaporate in the
 +payment of interest on foreign loans, and are placed by the deposit
 +of equivalent amount of RENTS. </p>
 +<p>9. And these last it is which patch up all the leaks in the
 +State treasuries of the GOYIM. </p>
 +<p>10. When we ascend the throne of the world all these financial
 +and similar shifts, as being not in accord with our interests, will
 +be swept away so as not to leave a trace, as also will be destroyed
 +all money markets, since we shall not allow the prestige of our
 +power to be shaken by fluctuations of prices set upon our values,
 +which we shall announce by law at the price which represents their
 +full worth without any possibility of lowering or raising.
 +<i>(Raising gives the pretext for lowering, which indeed was where we
 +made a beginning in relation to the values of the GOYIM).</i> </p>
 +<p>11. We shall replace the money markets by grandiose government
 +credit institutions, the object of which will be to fix the price
 +of industrial values in accordance with government views. These
 +institutions will be in a position to fling upon the market five
 +hundred millions of industrial paper in one day, or to buy up for
 +the same amount. In this way all industrial undertakings will come
 +into dependence upon us. You may imagine for yourselves what
 +immense power we shall thereby secure for ourselves .... </p>
 +</html>
books/the_protocols_of_the_learned_elders_of_zion/loans_and_credit.txt ยท Last modified: 2020/05/02 15:19 (external edit)