bank oligarchy’s dishonest economists tell you that rise in consumer prices is inflation when in fact higher CPI is from monetary deflation killing supply and suppliers

Criminal financial oligarchs are draining the people’s wealth and livlihood into their own coffers using two deceptions that trick us into calling for exactly the wrong remedies. Pay close attention. No one else knows this and my words reach only as far as you. This puts responsibility on your shoulders, John Doe. Don’t let us down!

These are the two deceptions:

1. The oligarchy’s defrauding economists and “reformers” tell you that the rise in consumer prices households are seeing is “inflation” when fact is higher CPI and commodities price index is from money deflation killing supply and suppliers.

Explanation: While it is true that ot enough money in people’s hands does mean fewer dollars chasing goods which does tend to lower prices via shifting demand downward (the D curve moves leftward) — it is also truth simultaneously that not enough money chasing goods also and even more tellingly puts suppliers out of business and raises the cost-covering price that remaining suppliers much charge to meet their fixed costs of debt obligations and rent of factories and machines per item sold. The bank oligarchy gains in wealth with deflation – that is why they are alway hireing false economists (they become false as soon as they start beiprostituting themselves as the disinformation propagandists of the banker oligarchy.) A million dollars can buy the assets of one bankrupted company today, but with more deflation it will buy two just like it next year. There is not more money going into peoples hands which bids up prices, rather there is less money which cuts business reveunes that must pay business costs and forces companies out of business, increases monopoly concentration and increases the fixed-cost covering prices that producers must charge per unit of product.

2. The financial oligarchs have monopoly control all the exchange tokens which the people must have to buy, hire, pay taxes and pay debt. This money is primarily bank-created thin-air deposit loans and secondarily paper currency temporarily created when people cash checks/use ATMs for currency to spend which the retailers immediately take back to the banks upon receiving them exchanging them for deposits within a day or two after receiving them. This money is the key to financial oligarchy theft — because the individual banks create it at no cost, simply writing it into existence with a corresponding debt obligation (called creating loan from thin-air — but also and always simultaneously creating new and larger debt from thin-air too) and are free to do so whenever deposits at the bank exceed ten percent for elite banks (and three percent for small banks — so they will be the first to fail and the bigger banks can swallow them up!)

Explanation: The banks create it at no cost, yet they lend it at interest and on top of that they demand 100 percent collateral on both the loan amount and the interest amount, whether the equity in the home of a borrower refinancing or obtaining a second mortgage, the ownership of a business and its assets, or the secretly pledged real assets of goverments (land, utilities, claims on tax revenues etc.). Since money is “thin-aired” into existence only in the amount of the loans and not in the amount of the loan to be repaid plus the compound interest also to be paid – the result is home-buyer defaults, business and personal bankruptcies, and national debt-crises — in which the entire nation, the wealth of the people, is stolen by the banking oligarchy.

3. Telling you Fed is the bad guy, because “it causes inflation” and therefore must be abolished and a gold standard or a new currency must be devised — when the truth is that the plundering by the bank oligarchy takes place with a central bank like the Fed or without one. If the central bank were eliminated and we moved to a gold standard, then Rothschild interests, who own most gold, who can inflate or deflate gold reserves they hold in banks at will, who can do all the things the Fed now does with open market purchases, and altering of the federal funds rate and the reserve requirement ratio. (In 2008 when the a money shortage caused the failure of household sector (mortgage) borrowers — I urged immediate lowering of the reserve requirement ration – which, as with everything I say, was not passed on over the din of dishonest banking oligarchy disinformation shills who blamed inflation and “bubbles” caused by inflation.

Explanation: The truth is the Fed has not been bad because it has causes inflation which leads to bubbles of mal-investment which must burst — but rather because deflation is occuring to which the Fed has not responded by providing for reflation. The Fed has only pretended to be reflating by the deception of quantitative easing — which is nothing but the Fed letting creditors, the banking oligarchy, trade their bad IOUs (securitized mortgages which deflation has made into bundles of “bad debt”) for deposits which the oligarchy (including creditors in China, India etc.) never spends on consumption goods sold by Americans — but only on the buying up of our bankrupted assets that we are forced to put on the market because deflation makes it impossible for us to earn enough to realize the plans we originally and was originally a good move at the time the loans and co-created debt-obligations were undertaken, that is before continuing deflation took its toll.

That is the story of what is wrong. That is the story which you hear only from me and from small number of others who both understand they banker oligarchy’s racket and who are not hired servants of the oligarchs who would keep the truth from you so that the great plundering of the world can proceed all the way to our final dispossession and enslavement.

That’s the problem. And there a set of modifications of the money and finance systems that would shut down the racket of the oligarchs. This is the only set of structural changes to our system now being promoted that would completely end the power of the oligarchs and immediately provide to everyone the necessary permanent money supply with which the people could again be restored to lives immediatly worth living and a future within everyone’s reach that leaves all feeling good about the world our children will live in after our generation is gone.

Here are the key features of the alternations in the money and financial systems that remedy the situation and a gallary of portraits of those thinkers whose work has pinted the way to this solution and/or provided the clear analysis of the devious mechanisms which the banking oligarchs have been exploiting to the great detriment of mankind since the creation of the Bank of England.

Dick Eastman

Yakima, Washington

The full set of 30 necessary changes with everything needed to make the basic remedies successful.’


1. repudiation of fraudulent debt to bankers

2. institute permanent national money created by fiat (from “thin air”)

3. originate all new money exclusively in citizen’s primary bank account as free and clear household sector dividend

4. seperate banking from money creation, ending the fractional reserve banking system and requiring that money creation and distribution to households be a Federal function and the chartering and regulation of banks be a function and responsibility of the states

5. require that banks lend only funds entrusted to the bank by money owners for that purpose

6. eliminate the federal income tax which penalizes productivity and initiative, and replace it with direct taxes equally applied individually imposed for each item of public service approved by Congress, with also a direct excessive wealth tax services including inheritance tax

7. require that the risk of all bank financed transactions be shared between borrower and lender, so banks can only recoup 1/2 of principal in event business loss resulting in default

8. elimination of all national banks, allowing the states to regulate banking while government regulates the money supply dividend to households

9. ending of foreign investment here and American investment abroad

10. severing the domestic monetary unit from the international dollar — allowing the Federal Reserve leave the country taking the international dollar with it

11. regulate foreign trade to ensure that imports in the course of a year are paid for by exports, i.e., balanced trade

12. abolish the corporation as a structure of American business enterprise, breaking up all corporations into single proprietorships or partnerships

13. eliminate the Internal Revenue Service, tax collection being taken over by the US Treasury and enforced by US marshals — impose an excess wealth tax

14. end all deficit finance by government — require that all government goods and services be funded by direct taxation and fees

15. elimination of all trust foundations with all good causes being funded for current expenses only and non-profit corporations

16 expand and conscientiously enforce anti-trust and anti-monopoly law and regulation extending these especially to mass-media with the understanding that monopoly in media is an infringement of everyones right to free political speech where the minority view always has the possibility, through persuasion, of becoming the majority, which is not the case when a few people own all mass-media

17. limit the ownership of rental properties, news media, the number of homes and the total acreage individuals, and businesses may own

18. requiring by amendment to the Constitution that only uncommitted electors be chosen to the electoral college which both find elect the best qualified president (as the Founding fathers intended), the repuation, character, knowledge of public issues, good and wisdom of the electors who select our presidents being the crition upon which electors will be compared and chosen

19. end the popular election of Senators, once again having the State legislatures choose US Senators for their respective states

20. legalize addictive drugs and provide them at cost to addicts so that organized crime will not capture the billions of dollars supplied to households through the new money dividend and so the monopolists high-price incentive to push drugs will be 100 percent eliminated

21. while debt to international lenders will be repudiated, money owed to creditor states, like China and Japan may be settled by 1) letting China have all presently American owned shares of industrial assets in China sometimes up to 49 percent of Chinese industrial firms 2) giving Alaska to Japan for settlement — even as we hope that with the perfection of American Populist Social Credit the people of Canada would be willing to sever all ties with the United Kingdom so that her provinces would become new states of the United States — with the possible exception of Quebec which would become a French speaking independent state — this exchange could also be part of an international settlement that would resolve disputes over the ownership of islands among Japan, China and Russia.

22. the calling back of all American military forces on foreign lands, bringing home all military equipment useful in providing for the defense of the United States

23. ending the American standing army, turning over all military equipment and personnel to the 50 states with the Federal Government only controlling a centralized command structure to be activated only in time of declared war which alone allows the Federal Government to nationalize national guard units

24. disarm the Federal Bureau of Investigation and eliminate both the Central Intelligence Agency and the National Security Agency eliminate the Department of Homeland Security, Department of Education

25. end all Federal government aid to all nations while permitting Americans to give charity and aid to those in need of their own free will

26. deny jurisdiction to admiralty law, withdraw from NATO, the IMF, the World Bank, the World Trade Organization, Basil Accords, and from the United Nations until the National Security Council is abolished and terminate all treaties with the state of Israel in keeping with an American policy of non-entanglement in disputes among nations. The US can however subscribe to the jurisdiction of an international court for the resolution of international trade disputes.

27. end all Federal gun control laws — leaving this matter to the states in their conforming to the Bill of Rights

28 disallow all members of the bar from practicing law in United States Courts, the United States courts themselves creating its own tests and qualifications for pleading before the bench of American national courts

29 by constitutional amendment enact 12-man jury nullification in American courts and the principle that juries decide when the letter of the law oversteps the spirit of the law and whether precedent shall or shall not be upheld

30 ability to practice law should be open to anyone who passes the federal law exam, possibly with lawyer specialties enabling a person to qualify for pleading specific narrow ranges of law. A very high percentage of the common people should be qualified to practice law.


About oldickeastman

Born 1949 Oakland High School 1967 Lake Forest College B.A. Western Michigan M.A. Texas A & M University M.S. and two years completed in the doctoral program in economics, passing prelims in Macroeconomics I am living in Yakima, Washington and spend much of my retirement writing on public issues.
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