The Parable of the King’s Creditors

The Parable of the King’s Creditors (September 2, 2014)
 
 
Once upon a time there a Kind decided to to pay off his debts to the King’s Creditors with a deal.  He turned over the power regulating money to his creditors, telling them that they could supply the kingdom with the money it needed and regulated the amount of money in the people’s hands, because too much money in the peoples expansion of money for spending and building in peoples hands would reduce would harm the lending business and would reduce the value of the stack of the people’s IOUs that the Kings Creitors owned and expected to collect on.  
 
Now the King’s Creditors could not only prevent more money getting into peoples hands it could also, by contracting its loans, cause a shortage of money which would force defaults and the transfer of real assets pledged as collateral for loans to fall into the hands of the creditors. 
 
By causing money deflation the King’s Creditors could increase the real wealth represented by whatever pile of IOUs they held.
 
It would also increase the purchasing power of each piece of gold, whether coin, ingot or or art object — and of course they held a lot.
 
The King had given the King’s Creditors the power to expand and contract money in circulation at will.  And so they did, making sure to short all markets (bet on downturn) before the contracted credit — and then — buying up all productive assets in the default-bankruptcy-foreclosure-asset-seisure that they created  — so that when they owned it all  — they are in the best position to propser in a boom — with the people (entrepreneurs, farmers, shop keepers, artisans) forced to come to them both for loans so they can get building materials and hire labor  and to rent out the land and machines which the acquired in the foreclosures of the last round.
 
But of course when you keep the peoplulation on short rations and when you whip-saw them with alternate easy money building expansions followed by deflatioanry depressions where the Kings Creditors take all that was built as the collateral promised in the event of default  —-    the Kings Creditors found they owned the productive capacacity of the nation but were unable to profit much by it because of the tight money rations allotted to the public during the long boughts of deflation the Kings Creditors inflicted on the people to ensure maximum squeeze on the fruits of the commoners’ labors.  So they cornered supply  — but had beggared the domestic consumers.  What to do? 
 
Well, if the Kings Creditors now own all of the land and productive capactity and the control of a people deep in debt  — but that there is a lack of purchasing power for the King’s creditors corporations  — then they must seek market’s abroad.  They have the money to fund the building of great battleships, they have a surplus of unemployed men  — so why not go out into the world and find countries that do not have the accumulations of money to buy battleships and fund mercenary armies  — or the King’s armies — since the King is still in debt and needs to do constant favors for the King’s Creditors — so the King will provide the King’s Creditors with the men to man those battleships and to shoulder those carbines and to man the artiliary  to force small “unorganized” and “undeveloped” nations to provide (often at gunpoint) raw materials (with slave labor or coerced low wage labor)  — so the foreign countries would send raw materials to the Kings Creditors’ Corporations where goods would be made which would be sent to these foreign countries — mass produced and cheap — while the people of the foreign countries would no longer be able to provided for themselves.  But of of course other kings of this “modern world” of Kings Creditors, would soon be competing for these overseas markets  — which was perfect  — because now “national interest”  required that the Empire created by the King’s Creditors must now be defended by war. 
 
War of course is the greatest of all exports.  You don’t have to satisfy the tastes of the enemy — you have only to blow him up, shoot him or maim him  — in exchange for which he will sink those costly battleships so that they can be replaced with newer bigger battleships  and in peacetime there can be an arms race to see who can build the most battleships  — the greatest and most exciting and profitable “industry” possible for the Kings creditors to get into.
 
Now all this time the Kings subjects are going along with this.  They know that if there is a way then they must “support the war effort”, they must “think only of victory”  — they must “not count the cost when our very survival is at stake”  they must protect hearth and home from the dreaded hun, the horrobile terrorists and what not.  And all of this “support our troops” thinking is encouraged  by the Kings Creditors newspapers and their spokesman in the legislature, men put there to serve the Kings creditors interests.
 
Of course the king and those who make the battleships and equip the soldiers and lead the soldiers as privileged high officers of Army and Navy and those who print the newspapers stirring up patriotism, cheering on the war effort, and criticizing the “money cranks and social credit crackpots  who say that the king should repudiate all debt to this den of vipers the King’s Creditors.
 
The best thing to do is to hire some mercenaries to blow up buildings filled with innocent people — to frighten, distract the people and to redirect their anger and frustration against  the foreigners with more war   and against critics of the goverment and  against the King’s Creditors themelves.  These critics of the Kings Holy System must be weeded out as potential terrorists, as disloyal and dangerous extremists.
 
And if the people even begin to appear to be “wiseing up to what is going on — the King’s creditors have the answer to that — more false-flag terrorism and new and more frightening “enemies abroad.
 
And so this posting contains writings of just such “extremist” enemies of Kings’ Creditors.
 
I hope you will read some of them.
 
Dick Eastman
Yakima, Washington
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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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