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"... them of the synagogue of Satan, which say they are Jews, and are not, but do lie..."

Jesus Christ
Revelation 3:9
The New Testament in the Bible
King James Version

The Bank of England admits that commercial banks create money out of nothing when they lend at interest.

By Andrew Mackinnon

Last updated: 17th November, 2023

The Bank of England came out in 2014 and admitted that the privately-owned commercial banks in the banking system create money out of nothing when they lend to citizens, (non-citizens,) businesses and not-for-profit entities and impose an obligation on them to pay interest on this money created out of nothing:

The Bank of England is the central bank of the United Kingdom.  Its analogue in Australia is the Reserve Bank of Australia.  Here are some extracts from the first page of the PDF document above, which originates from the Bank of England:

"- Money creation in practice differs from some popular misconceptions - banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they ‘multiply up’ central bank money to create new loans and deposits.

- The amount of money created in the economy ultimately depends on the monetary policy of the central bank.  In normal times, this is carried out by setting interest rates.  The central bank can also affect the amount of money directly through purchasing assets or ‘quantitative easing’."

and this...

"In the modern economy, most money takes the form of bank deposits.  But how those bank deposits are created is often misunderstood: the principal way is through commercial banks making loans.  Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money.

The reality of how money is created today differs from the description found in some economics textbooks:

- Rather than banks receiving deposits when households save and then lending them out, bank lending creates deposits.

- In normal times, the central bank does not fix the amount of money in circulation, nor is central bank money ‘multiplied up’ into more loans and deposits."

The Bank of England, which is privately owned like the Federal Reserve Bank of the United States of America, is a deceitful organisation like most central banks around the world.  Having purposedly and gleefully spent the last several decades deceiving the citizens of the United Kingdom into thinking that the money that the privately-owned commercial banks lend them is the money that these banks’ customers have deposited with these banks, the Bank of England now seeks to chastise the citizenry for falling for its extremely convoluted and confusing deception as it finally let’s the cat out of the bag with the truth about the money these privately-owned commerical banks lend to the citizenry.  They create it out of nothing and weigh the citizenry down by charging interest on it so that they can earn exorbitant profits that their shareholders receive as dividends and that can be spent in the real economy purchasing real goods and services like high-end sports cars and overseas holidays.  The citizenry work with bended back to earn the extra money necessary to pay the interest they owe to these banks from whom they borrow this money that was created out of nothing.

Of course, the Bank of England was aware of this fraud all along, but has remained silent about it until now so as to enable the privately-owned commercial banks to profit from this scam over the past several decades.  Television is one formidable distraction that has prevented the citizenry from discovering this scam until very recent years.  Due to mounting public pressure, the Bank of England was apparently forced last year to come out and admit what it has known all along by releasing the PDF document linked above which is essentially a signed confession to this fraud.

Although I haven’t verified this as yet, given the subservience of Australia to the United Kingdom, there is no reason to believe that Australia’s monetary system, with the Reserve Bank of Australia acting as the central bank and setting the level of interest rates that the privately-owned commercial banks charge, is any different from the United Kingdom’s fraudulent monetary system, involving the Bank of England in the role of the central bank which sets the level of interest rates charged by the commercial banks.

Our current banking system in Australia comprises privately-owned banks.  We are continually told that the reason we have so many banks in Australia, including four major banks, being the Commonwealth Bank, Westpac, the Australia and New Zealand Banking Group Limited (ANZ) and the National Australia Bank (NAB), is that these various banks provide Australian citizens with a competitive banking environment as a result of these banks competing against each other.  We’re told that the deregulation and privatisation of the banking industry that took place in the 1980s and 1990s led to competition that aids Australian citizens by enabling them to secure loans at the lowest possible interest rates.  However, this is just propaganda to cover the real reason for the deregulation and privatisation of the banking industry in Australia in the 1980s and 1990s which resulted in the existence of so many privately-owned banks operating in Australia.  The real reason for this deregulation and privatisation was to enable the shareholders in these privately-owned banks to profit handsomely from the revenue these banks earn as a result of the interest they charge on the money they loan created out of nothing.

As John Citizen in Sydney spends twenty years paying off his mortgage to the National Australia Bank (NAB), for example, on the property he lives in, there is no shortage of Sydneysiders keen to own shares in the NAB and profit via the dividends paid to them on these shares out of the profit that the NAB makes as a result of the interest John Citizen pays on his mortgage.  Competition is just the cover story for public consumption to hide the real purpose of our banking system in Australia comprising privately-owned banks, which is to facilitate a massive transfer of wealth via the interest paid on debt from borrowers like John Citizen to the shareholders in these banks operating in Australia.

Of course, these shareholders don’t just live in Sydney.  They live all over the world and they’re not just individuals like foreign citizens.  They’re foreign entities as well like companies, banks, insurance companies and all manner of investment funds.  A significant proportion of each of the banks operating in Australia is owned by shareholders who are foreign citizens or other foreign entities.  So as John Citizen laboriously pays off his mortgage, a portion of the interest he pays is transferred overseas in the form of dividend payments to these foreign shareholders.  Since John Citizen worked in Sydney to earn the money to pay this interest on his mortgage, this transfer of money overseas in the form of dividend payments means that there is less money remaining in the Australian economy to support the economic activity of all Australian citizens.

Creating money out of nothing and issuing it to citizens as debt in the form of loans which carry the obligation to pay interest on those loans is the essence of the control that the Rothschilds-led synagogue of Satan, also known as the satanic Illuminati, has exerted over countries like Australia for a long time now. This is a system which plainly enriches the owners of the banks because the amount of money that needs to be repaid to extinguish the debt of money issued is greater than the amount of money issued, on account of the interest that is charged on this money issued as debt. Whereas the banks receive interest on the money they create out of nothing and issue as debt, the entities in the economy which take on the debt in the form of a loan, such people or companies, must generally perform work in order to earn the interest they owe and pay to the banks in the course of paying off the loan. This interest the banks receive is the generally the result of real work performed by the people, companies or other entities they lend to, however the banks performed negligible work to establish this obligation to pay them interest, since they created the money, on which they charge this interest, out of nothing. This interest that the banks receive is the basis of their profit after paying their administrative overheads and constitutes real purchasing power for the owners of the banks who receive this profit in the form of dividends. Money that was created out of nothing enables the owners of the banks to earn these dividends and use them to purchase whatever goods and services they require from the real economy in which real work is performed to produce these goods and services.  For this reason, the synagoue of Satan has worked hard to make interest rates the centrepiece around which our monetary system and our banking system revolve.

Under our current banking system in Australia comprising privately-owned banks, the overwhelming majority of the money in circulation is debt which imposes the obligation to pay interest on the borrowers of this debt.  Unless individuals and companies borrow more money from these privately-owned banks such as the Commonwealth Bank, Westpac, the National Australia Bank (NAB) and the Australia and New Zealand Banking Group Limited (ANZ), the size of the money supply doesn’t increase.  When individuals and companies repay the money they’ve borrowed from these privately-owned banks, this money loaned to them is destroyed and the size of the money supply decreases.

The interest rate at which these privately-owned banks lend this money that they create out of nothing to individuals and companies is influenced by the cash rate that the Reserve Bank of Australia decides upon.  Desperate to influence individuals and companies to borrow money from these banks and to consequently spend and invest it in the economy to stimulate economic activity, the Reserve Bank of Australia has recently reduced the cash rate to just 2% per annum.

Due to the speculation frenzy on residential real estate sanctioned by these privately-owned banks and fuelled by their lending to property investors/speculators, house prices have increased dramatically in Australia over the past three decades.  (Other causes of these increasing house prices are non-white immigration into Australia, negative gearing and the allowance by the Australian government of foreign individuals, companies and trusts to purchase Australian residential real estate, to name just three.) Individuals paying their mortgages for the dwellings they occupy are already up to their eyeballs in debt and don't want to borrow any more money from the banks, even with interest rates at their current historical low.  This is evidence of the deep suspicion and the deep antipathy that Australian citizens rightly harbour towards the banking system in Australia comprising privately-owned banks.

Companies don't want to borrow money to expand their businesses because consumer demand has collapsed.  Namely, Australian citizens are up to their eyeballs in debt and have little spare money to spend on goods and services.  They’re allocating most of their disposable income to interest payments on their mortgages, as well as repayment of principal, for both their owner-occupied dwellings and their investment/speculation properties.

Quite simply, there is currently not enough money in circulation to support the economic activity of Australian citizens and other entities like companies, which is why the entire country is languishing.  What we are witnessing today is the failure writ large that our current banking system comprising privately-owned banks has always been.

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