This video is a follow on from the previous video dealing with the Bank of England and the complicity of Government. If you haven’t seen that video, I would recommend you doing so before watching this one.
Let’s start by looking at the fraudulent activity of the Bank of England.
The Fraud Committed by the Bank of England
So, let’s look at their operation in some detail … The Bank of England acts as the Nation’s bank. It “loans money” to the UK Government.
As with all banks making loans, the Bank of England charges commission for the providing this service. To put it another way, the commission is their fee. The commission comes in the form of Interest.
So, every Pound Sterling created comes with interest attached. These interest payments go to the owners of the Bank of England. Bear in mind that the Bank of England came into being in 1694 - more than 300 years ago - and they’ve been charging commission for the providing this “service”, all that time. The interest that has been accrued by the owners of the Bank of England since its inception in 1694 must be astronomical. This is what a Londoner might colloquially call, “a nice little earner”.
It should be said that this Interest has to be paid by the British taxpayer. In addition, of course, to the Principal, – the agreed loan amount. This has to be paid back also.
In this operation, the burden of cost is successfully transferred from Government to the people. So, in short, the Government spends and the People pay.
I said that the Bank of England “loans money”, but strictly speaking that’s not really a true reflection of reality.
Firstly, the Bank gives the Government currency, not money. The difference might seem like a trivial thing, without much significance, but I can assure you that it is incredibly important. For those of you who are at all interested, I’ve done a video on the difference between Money and Currency.
Secondly, the Bank creates currency out of nothing.
Clif High refers to this as “Babylonian Money magic” and it is a form of magic because essentially, currency is conjured up out of nothing.
There is, however, a difference between what a magician does and what the Bank does. A magician uses sleight of hand to produce say, a rabbit out of a hat, whereas the Bank of England literally creates currency out of nothing.
By the way, the ordinary, High Street banks do something similar when they make loans to customers through a perfectly legal financial process called “Fractional Reserve Banking”. I’ve done a video on this also, if you’re interested.
Anyway, in days gone by, this currency that they created took the form of Bank Notes. Nowadays, it’s almost entirely done digitally. Currency is virtual – it’s just digits in a network. A tiny percentage of physical cash is still created and used, but the Banksters are trying their best to do away with it.
So, the upshot is, the Bank - besides not doing much by way of any hard work to earn these ill-gotten gains - do
