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This means the harmonic coexistence of people. And, on world scale, this would mean the harmonic world order , the real alternative to the fallen usury civilization, kept alive only on respirator. The money rule global elite at a crossroad. The international money cartel controlling the world operates several networks and institutions. The third important organization, the Bilderberg Group, in turn, convened, behind closed doors again, in Sitges, near Barcelona.

The financial crisis developing in Greece on one hand staggered the European monetary system, on the other hand it served as a pretext for the introduction of such drastic austerity measures, which can cause chaotic relations.

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The transnational elite wants to persuade the public opinion that the chaos and anarchy can be avoided only with the radical change of the current world rule relations. The deliberately generated chaos, kept under control by the super-rich oligarchs with their financial institutions, giant banks and the hedge funds owned by them, can offer an occasion for the creation of such a global financial mechanism, which is necessary for the operation of the world system, the world state, controlled from a single centre.

The financial attack started against Greece evolved into an attack against the euro and the whole of the eurozone. The developments were also connected, to some extent, with the structural problems of the Greek economy. The size of the developing crisis was already threatening the economic and political integrity of the European Union. All this cannot be explained solely with the avidity of the great financial players striving unscrupulously at profiteering. It is obvious that also deeper causes can be found behind the appearance of the Greek crisis situation.

George Soros referred to this, when he stated that the European Union owes its present crisis primarily to the unwillingness and hesitation to move on of the European, more concretely the German politicians. These politicians did not delay in taking decisions regarding the accumulated problems. Therefore, the crisis striking Europe continued until the officials of the EU decided on the establishment of the European Monetary Fund , which makes it possible to overcome the ever increasing budget deficits of the EU member states.

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The European leaders were compelled to choose between the collapse of the eurozone and the further centralization of the governance of the European Union. The transnational money cartel is on the opinion that the monetary union must be completed with a fiscal union , which means that the European tax system and the budget policy of the EU member states must be controlled from Brussels. French financial and economic expert Jacques Attali , who was a close colleague of former French President Mitterrand and the first president of the European Bank for Reconstruction and Development EBRD , has elaborated a concrete detailed plan recently for the more powerful centralization of the EU.

Attali suggested that the EU member states should create their own institutions to monitor closely the activity of the structures that control the financial system. He also proposed that a new crediting system should be introduced, which is connected neither to the European Central Bank, nor to the Bank for Reconstruction or to the governments.

This new crediting system would undertake guarantees for the operation of the viable local financial institutions, and would also buy property shares in them. This European credit institution would extend loans only under specific terms. Attali also urged the establishment of a European Ministry of Finance , which would be empowered, from the beginning, to hand out loans in the name of the European Union.

Attali thought that an even severer crisis should be expected in the future, if the European decision-makers are not willing to make this step. Under the United States pressure, German Chancellor Angela Merkel — allegedly, also at the pressure of French President Nicolas Sarkozy — finally consented to that, in May , the EU finance and economy ministers signed an agreement on the mechanisms of budgetary stabilization in the Eurozone. They established a 60 billion euro safety pillow fund to urgently rescue countries battling with their temporary financial problems.

Within the framework of this financial assistance system, the member countries fighting with financial hardships could get loans, in a total value of billion euros , which would be guaranteed jointly by the EU member countries. The International Monetary Fund also pledged to supply further guaranteed loans amounting to billion euros in the case of need. These altogether billion euros are meant to maintain the solvency of the states belonging to the Eurozone. The European Central Bank will also undertake this mission. All this can be regarded as the first phase of progress towards centralized European monetary administration.

The agenda also includes using the IMF as an authorized supranational regulation center under the supervision of a G board. The world can witness again the creation of such a supernational mechanism, which controls the national economies of the individual states, and, if a crisis situation occurs, intervenes for the sake of the necessary change, but in a prepared and organized way.

The essence of this is to tighten integration within the EU, which is the precondition of the strengthening of the Euro-Atlantic power block — the West. The plan imposed on Europe by leading world financial circles wants to counterbalance the partly deliberately created indebtedness crisis with the help of new huge borrowings.

This solution will exacerbate rather than remedy the problems occurred in the budget of individual states. The main cause of the delay of these ardent problems is that no single standpoint in these questions has emerged in the global elite yet, due to the struggle for power among the main global decision-makers.

According to the statistical office of the European Commission, the Eurostat , in the indebtedness sovereign debt of the countries belonging to the Eurozone will grow from The financial experts consider that the indebtedness figures for not only Greece and Portugal, but also for Spain, Italy and a number of other EU countries are unrealistically low as compared to the actual data. The corresponding average in the United States is 5, and the ratio of indebtedness in the states of the Eurozone is 4. The structural transformations are still being awaited.

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In order to alleviate the situation, the EU finance ministers adopted the German plan. The sanctions will include suspending the voting rights and withholding the funding for infrastructural development of those member states, which repeatedly offend the budgetary limits. It was also proposed to subject national budgets to EU screening prior to their being debated in national legislative bodies. The European Commission, the European Central Bank and the 11 countries belonging to the Euro Group Eurozone discussed other, yet more ambitious projects.

They included the adoption of the joint budget of the 11 Eurozone member states. In order to avoid the financial collapse, the EU countries were compelled serially to introduce extremely unpopular austerity measures. They froze the salaries and pensions of state employees, cut welfare expenses and increased retirement ages.

Greece was forced the first to adopt such measures. Then Germany decided to cut spending by 10 billion euros annually in France abolished the annual pension for low-income families. Under the IMF pressure, also Spain was forced to a comprehensive reform, including pension indexing freeze, pay reductions and employment cuts in the state sector. Similar austerity measures are being planned in Great Britain, Italy and several other countries. As a consequence, in the member states of the European Union at least 80 million people are currently below the poverty line.

We have mentioned all these in connection with the Sitges meeting of the Bilderberg Group because we wanted to demonstrate that the power elite, which wants to retain control over the world, had to make hard decisions in rather difficult situations. This time, several invited representatives of the world elite stayed away from the meeting, because their participation to the conference could have an unfavourable effect on their judgment, if their presence comes to light.

The dominating panic was even increased by the bloody demonstration broken out in Greece following the austerity measures imposed by the International Monetary Fund. This also signaled that the world elite gradually loses control over the events, while the hostile attitude of the world public opinion is growing. The increased interest of the world public opinion is shown by the fact that Charlie Skelton reported for the second time about the Bilderberg meeting for the Guardian of London, and a detailed report was published also in Russia Today.

It is a peculiarity that Daniel Estulin — who also wrote a remarkable book about the operation of the Bilderberg Group — delivered a speech to the politicians in Brussels, at the request of the European Parliament. In this speech, he revealed the intention of the world financial elite to collapse the global economy and make the world economy a corporation controlled only by them, of which only they benefit. In the international financial world, there are those who lead and those who react to events. While the latter are better known, more numerous and more powerful in appearance, the real power lies in the former.

In the global financial system, the financial oligarchy is represented by the Bilderberg Group. The organization of the Bilderberg organization is dynamic, i. Some of its members continuously change, but the system itself has not changed. It is a self-replicating, virtual web network, intertwined with the financial, political, economic and industrial control. The Bilderberg Group is a secret society. It is like an all-seeing evil eye. Nevertheless, Estulin states that there is no conspiracy, in the classical sense, as childhood fantasies see it.

No group of people are sitting around a table in the dark, holding hands, gazing at a crystal ball, planning the future of the world. The people gathered in Sitges are linked together with a certain ideology. The Bilderberg Group is not the global government or the New World Order yet, it strives at the strengthening of the global corporation for the moment. According to Estulin, the goal of the Bilderberg meetings is to create a global aristocracy following the same ideology, which is able to manage our planet optimally with the cooperation of the elites of Europe and North America.

To create a huge network of cartels , more powerful than any nation on Earth. This super cartel is destined to control the vital needs of the humanity, obviously from his vantage point, for its own good and benefit. The Bilderberg Group is the institution of the international financial community that represents the most powerful and predatory financial interests. And this combination is the worst enemy of humanity — says Estulin. The Bilderberg Group that today has got in the centre of the corporate mass media. Not because the corporate media has suddenly remembered its responsibility towards other people, but because the public opinion has forced the representatives of this opinion power to be aware that the presidents and prime ministers and kings and queens are only tiny puppets of powerful, world-forming forces operating behind the scenes.

Something has happened in the midst of general economic collapse. People are frequently subject to something that they do not always understand. That leads them to act in their own interest. The financial crisis, like a tidal wave, took away the fears of the people. They realized that their existence is threatened, so they have lost their fear, and today already perceive the Bilderberg Group in a different way. Estulin condemned with harsh words those who worked for secret societies and who have sold their nation for material advantages.

He called them traitors — not only traitors to their people and their nations, but of humanity as a whole. After this, Estulin referred to the fall of the Roman Empire, and to the decline occurred in the 14 th century, to the creation and collapse of the financial bubble of speculation, and then to the start of the historical Modern Times. At this time, new institutions were created. The conception of the modern nation-state republic under the rule of natural law was born.

The citizens have given — as a central role — the mandate of promoting scientific and technological progress to the republic. But the members of the Bilderberg Group want a global empire. That is called globalization. And many people believe that to create an empire, you need money. But money, in itself, creates neither wealth nor economy. Money has no intrinsic value. The human mind and knowledge determine the development of the planet.

The deliberate destruction of world economy. It is not for the first time that the world elite represented by the Bilderberg Group destroys the world economy deliberately: At present, this global elite wants zero growth and zero progress. According to a draft of the Council on Foreign Relations, the controlled disintegration of the global economy is necessary.

In , the Bilderberg Group stood beside destruction, namely by planning the destruction of world economy on purpose. The Great Depression made them even richer by making it possible to take the wealth away from those who produced and operated it, by transferring wealth from people at the hands of those who were already rich. The Bank of America made billions of dollars through foreclosures from to Do not think for one second that the interests of the richest of the rich will be hurt by the forthcoming newer world economy collapse, as a consequence of the second phase forecast by Soros, being still ahead us.

The only losers will be those who do not belong to them. A good example is Greece.

They are imposing that the Greek debt is financed by Europe, but that debt is worthless. The observers, usually, can deduce the taken decisions from the events happening after the meeting. Thus, it is interesting what the finance ministers and central bank governors of the G20 , the greatest economic powers of the world, decided about on 7 th June , that is one day after the Sitges meeting. On their South Korean meeting, the participants to the G20 conference rejected the policy of economic stimulus followed up to then, and abandoned also the proposals for a global banking levy.

The financial leaders of the G20 decided to shift to severe fiscal policy , instead of economy-stimulating and growth-incentive measures. They motivated this with the fact that the possibility of the world-scale debt crisis makes the financial system unsure of itself. In April , the standpoint of the same financial leaders was still that the fiscal incentives should be continued until the private sector and the productive economy strengthens duly.

The council of finance ministers welcomed the crisis management measures of countries struggling with high budget deficit. The French finance minister also added that the debt consolidation is more important than the stimulation of economic growth. Treasury Secretary pointed out that restoring fiscal sustainability of the budgets of European states makes the possibility of growth difficult worldwide.

Timothy Geithner found the fiscal rigour inefficient until the confidence of the market was restored. In connection with the global bank levy, the G20 finance ministers agreed that, for the moment, each country should provide for the supervision and taxation of its own financial institutions. They have to reach all this so that they should assure the transparency of their banking system. Nevertheless, the introduction, until the end of , of an international money market regulation will still remain on the agenda.

According to the nearly unanimous opinion of the experts surveying the Bilderberg meeting, a possible war against Iran was on the agenda in Sitges. For the moment, we cannot know whether a decision on this was taken or not. Many experts think that the situation is similar to that one between and Therefore, the global forces working on the creation of the New World Order could possibly use — beyond the economic devices — also the war for the sake of creating the one-world government governed from a single centre as soon as possible.

But, in this respect, we can only guess again, and only the events occurring in the future will verify that the analysts were right or wrong. How could we get out of the world financial crisis? Firstly, we have to answer the question: Each and every man is at the same time and inseparably a natural, a social and a spiritual-intellectual being. The money, as a sign, nevertheless, can measure and convey only one relationship of the man, namely that one which he exerts within a community, as the member of the human society.

The role of the man in the division of labour, and the goods produced by him can be, more or less, compared to and measured with the quantitative index numbers. Therefore, when we measure such a complex phenomenon as the interrelation of human communities with each other and with the natural environment, i. The complete activity reduced to the quantitative side can be described with a sequence of figures.

Nevertheless, all these only show what is more or less, or in which order of magnitude it is so. All this lacks the complexity of man as a natural being, and, similarly, we do not get to know anything about all other dimensions of man. This means an extremely great reduction, since all human beings are, at the same time, unique and unrepeatable microcosms. So when we try to express the multiply complex and sophisticated values in money, we undertake an impossible task, which cannot be achieved. What we consider to be a solution, is nothing else than arranging certain abstract quantitative indexes, and their keeping on file in a certain accounting system.

Keeping on file — especially with the development of information technology — has become such an independent institution, that frequently the filing itself is the value, and is more important than that, what the records refer to. The reduction of the complex phenomena to one-dimension, abstract and homogenous sequences of numbers, of course, makes comparison easier, and, if being numerous is a value, this numeric comparison can even be a measure of value.

In essence, in accounting we keep records on claims , which are also used for value measuring. Gradually, the claims themselves have become means of payment, and, when the business partners settled the accounts with each other, they usually changed claims with each other, as settlements. The claims recorded in the accounting have different profits , and the settling is done by collating the returns or profits.

If the banknote representing the numeric relations, i. If the account money is also included in this banknote in the accounting records, it will be inflated in the same ratio as the banknote. In the accounting, the bank deposit of a client is a claim from the bank. When the bank gives a credit to the client taking up a loan, it is the claim of the bank from the client. The tool of the bank, which it grows continuously in order to have more profit, is not the liability of the bank.

The financial institutions primarily the banks want to multiply their own money instruments and to decrease their liabilities. The more successful a financial institution, an investment fund or a bank is, the more devices it has, and the larger these devices are, the larger the debts of its clients are. So that a financial institution dealing with crediting should be successful, it should indebt efficiently its clients.

These indebted partners themselves can also be banks and financial institutions or investment funds. When, within the banking system, these financial actors reciprocally indebt each other, in fact they produce money within the banking system. But the banking system has broken away, for a long time, from the value-creating real economy that produces physical goods. The assets and liabilities recorded within the banking system are only sequences of figures , and the raw material of the banking system consists of computing digits.

The multiplication, growth of these signs arranged into sequences of figures is possible with different virtual methods. The actor of the real economy — which produces value-bearing physical products and services that satisfy human necessities — strives with the mining, the processing, the development, the transport, the multitude of services, the obtaining of information, and the taxation.

In contrast, the financial sector and the banking network operating within it are a one-dimension factory, which only has to multiply the accounting signs. When the transnational money cartel that had developed the current financial system of the world succeeded in pushing out the state-issued money, and, then, drew under control even the central bank issue moneys substituting the former, could create the interest-yielding credit money monopoly , the money necessary to which was raised by the banking system, in the form of account money.

The state-issued money, the issue bank money , as well as the account money were still connected, to a certain extent, to the value-producing real economy. Nevertheless, due to the interest mechanism, the credit money, connected to the real economy, after a certain determined time, could not grow in the required measure.

It would be normal if the signs serving the transmission of the economic life were produced by those who produce the mentioned values, the physical products and useful services. According to the normal order of life, the sign should be secondary, since the primary is what it signals. Nevertheless, in the case of money, mankind had to face such a sign in such a sphere where the production of signs was totally cut from those who produce the mentioned values. The production of signs became the privilege belonging to only a few people, and passed into the property of a self-designated, narrow and closed group of interest , which made the production of signs its private monopoly.

This group of interest gives in use these signs — essentially produced free — extremely costly to the actors of the value-producing real economy. Until this interest-operated private money monopoly was created, the public power — the state — had produced, as a public service, the signs assuring the communication of the economic life: As long as this system worked, the money could primarily be created only through work and production.

At that time, the financial sector was only serving the real economy, and the money, as a sign, was the mediating instrument of the value-producing economy. The organized transnational money cartel took this authority away from the states, and transferred it to an institution invented and spread over by itself, the international network of central banks. The creation of the central banks was necessary so that there should be such a private institution looking like a public institution, which is exclusively owned by or is under the control of the money cartel.

The central banks are independent only from their states and governments, but are totally dependent from the transnational money cartel and the international banking system owned and controlled by it. So, the money cartel has taken away the monetary authority from the states, i. Thus, the operation of the money system has become the intangible privilege of banks and other financial structures in private ownership. As long as the money cartel and its institutions create the money, and only credit money operated with interest mechanism is in circulation, all money within this money system is such a claim, for which interest — some kind of money rent — has to be paid.

In the productive economy, industry and services, this interest appears as cost, because it withdraws money from the productive activity and regroups it to the money cartel detaining credit monopoly and its institutions. The so ever strengthened money sector has grown into such a money economy, which has totally surmounted the real economy that had become dependent. The public economy was transformed into money economy , the economy into chrematistics. If, in a banking accounting, the interest of a claim changes, the yield of the given value also decreases or increases.

This means that the exchange value of the two accounting claims also changes. A promissory note with a higher interest is worth more than one with a lower one. The state and corporate bonds with a better yield push out those with a smaller yield. The current fair market value of certain bonds, securities, money instruments mostly depends on human will and influence.

The exchange of securities can be influenced with calculated steps, and great money yields can be obtained by this, especially if these exchanges are made in large items. In the monetary system, the actor which is able to exert changes and can calculate the triggered consequences, will be in superiority against that one which does not detain the information and tools necessary for that.

With the creation of the transnational money cartel, and the strengthening of the system of chrematistics, techniques like this developed and improved gradually. As a result of the development of information technology, of computerization, also the influencing of the movement of money was automated. The so-called forward transactions are in fact bets. In the real economy, where real values are created, the economic actors are subject to the laws of nature.

The employee can perform work only within determined time and health limits. On the contrary, business transactions consisting of bets can be made almost without limits, especially in the case that, at the time of the business transaction, not even a part of the value of the bet has to be paid in advance. This money, produced with bets , is what is called synthetic money. This so-called money that can be produced unlimitedly was deliberately confused with the book value of the value-creating work. Since this synthetic money could be multiplied unlimitedly, it took over the rule over the money covered with work.

This was substituted with the issue bank money issued by the central banks invented by the money cartel, the acceptance of which was guaranteed by the state, and the state allowed that the public debts, the taxes could be paid in this money. At stock exchanges, bets could be made with this issue bank money, and greater and greater sums were created in this way.

It even happened that the return reached times the invested amount of money.

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At this time, the claims kept on record in the accounting have already become dominant. People started to call these moneys credit money , since they were created by financial structures and not by central banks. The speculation practice gradually changed over to the trade with promissory notes, because, in large amounts, they could be manipulated easier, in order to get even bigger yields.

The government bonds, for instance, were popular because it was easy to influence the attitude against the given states with the help of political propaganda and the mass media. Thus, when we speak about financial crisis and indebtedness, always the budgets come into the limelight, because the good or bad propaganda about the budgets drives directly the price of the government bonds on the money markets. Nevertheless, in the summer of , during the Thatcher administration , the determining rate of interest was raised to four times its current value.

The countries indebted according to a plan were able to pay the debt service loads raised to times only by issuing newer bonds and by getting even more indebted. It has become a general practice that the states paid their former debts with even bigger loans.

As a consequence of this, the amount of government bonds continuously increased on the money market, and their re-evaluation with the news spread about the political and economic status has become a special business branch. In the course of world history, the indebting of states was always considered to be the most secure debt. The issue bank money still connected to the real economy was pushed into the background, and the credit money created with the transactions of the financial structures became dominant.

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But even this money-raising action within the banking system has its limits. When also the multiplication of the government bonds has already reached the upper limit, newer financial techniques had to be found. The so-called index trade was created at the beginning of the ies, which already means the buying and selling of index numbers included in the accounting reports. Of course, we cannot speak about actual selling or handing-over and buying or reception, since these accounting file indexes cannot be actually taken into ownership.

In fact, we can speak about bets , which are made by those who control the financial movements on the evolution of the indexes. The transnational money cartel could attain that the authorities controlling the money system should loosen the regulations. Here we can already speak about such a large-size financial movement, which only the strongest actors of the money system transformed into a gambling casino could afford. They, conspiring with each other, regularly speculated to the prejudice of smaller actors, or got rid of their undesirable rivals in this way.

This gambling of gigantic size could not bear the publicity of the wide public opinion any longer, so these financial gamblers used maximally the opportunities hidden in the off-shore environment. They needed, first of all, to be able to hide away their records covering such transactions, the books of the biggest money-makers from the authorities. But, with the billions of synthetic dollars produced this way, the transnational money cartel continuously and globally bought up the precious metal deposits, first of all the gold and the silver, and, furthermore, it became the owner of the value-bearing properties of the real economy.

The American money system symbolized by the Wall Street primarily dealt with portfolio investments and neglected to supply credits to the value-producing real economy, and the capital investment into the production and the research and development gradually fell out. The money economy settled down onto the real economic life, the place of economy was taken by chrematistics.

While the economy focuses on the production, the creation of goods and services that satisfy human needs, the chrematistics focuses on trade, on turnover and, mostly, on how more and more money can be produced from money — with the total avoiding of real economy. The goal of the original banking activity is to supply the real economy with appropriate credits, and to assure the money, as intermediary tool. But the role of the investing financial institutions, primarily of hedge funds is to multiply the money, in as high amount as possible.

When the mass production of money started, the classical banking activity was pushed into the background. The plants and factories producing goods of common necessity in the United States were closed one after another, and the productive activity was transposed to China, India and other Asian countries, as well as to South America.

They justified this saying that it is enough if America concentrates on the trade and the goods marketing. As a consequence, quite many Americans lost their jobs, and this increased the social expenses of the state. Not only the amount of the paid unemployment benefits rocketed, but also the taxable income decreased more and more. All this increased the budget deficit and further accelerated the indebting of the state.

Many Asian productive companies — mostly the Chinese enterprises — used their money covered with own work for their value-producing activity. This way they saved their dollars received for their products exported to America and to other countries of the Euro-Atlantic area. They spent a considerable part of this huge sum on buying American government bonds, i. The foreign manufacturers played a more and more important role. In order to decrease the indebtedness, the private bank fulfilling the role of central bank of the United States, the FED, lowered the base rate of the dollar to nearly zero.

The credit became extremely cheap, and this made it possible that even unemployed people could take up loans on mortgage for real estate procurement. In this way, money got into circulation not only through benefit payment, but also through money issuing, and increased thus the demand and the consumption.

The economy of the United States, representing the centre of the financial system of the Western world, still operated with this method. Nevertheless, experts already knew that the debtors without income would not reimburse the credits. There were also two institutions operating, the Freddie Mac and the Fannie Mae , with the task of handling the bankrupt mortgage loans within the framework of the so-called Relief Refinance Mortgage program.

The indebted state, nevertheless, could not undertake the expectable burdens in case the real estate market collapsed. Therefore, the big investment financial institutions of the Wall Street bought up the debts from the small local credit institutions, and supplied them with money in this way, so that they could continue crediting. The investors packed the bought-up credits on mortgage into bigger and bigger units, and the credit qualification institutions financed by them, on request, gave good qualifications on these packed credits on mortgage.

They labeled them as reliable securities assuring secure yields. The next step was to sell these, as guarantees, to pension funds detaining covered money, if possible, to European banks. The Canadian and Asian banks did not buy any of these financial instruments of doubtful value. Some of the European financial institutions — for yet unknown reasons — acted in collusion with the Americans. The financial crisis was started primarily by those investment financial institutions, which managed to get rid of the restrictions brought by Franklin Delano Roosevelt , meant to make the banking system more secure.

Anyway, it is a fact that they managed to persuade the United States and the Western European governments to help them with bank relief packages , to the detriment of the taxpayers. In the enforcement of the bank-saving and economy-vitalizing state aids, an important role was played by the panic-raising of the credit qualifiers, who, on order, were ready to manipulate the public opinion. The investing financial institutions managed not only to make up the falling-out yield of the bonds priced with fraud, but could also charge the not-accounted expenses of the index trade onto the public power.

With the guarantees undertaken to the debit of the society, the taxpayers, the governments took over the loss of the hazardous bets. Thus, also the European states got indebted. Nevertheless, the size of this indebtedness is not visible, since these financial liabilities are not included in the accounting of the public finance.

A special index number was invented for the stock of liabilities originating from bank reliefs. But it is not made public. At present, several states of the European Union have loaded themselves with many times the upper limit, due to the state aid supplied to the hazardous banks. The mass media of the European Union, but also the Hungarian one, does not say much about the bank-saving packages.

On the contrary, those experts get great publicity, who now already speak about the wavered confidence of the money market , because the governments are much too indebted. The natural answer to this would be that the competent governments should at least make reference to the fact that they had to break the Maastricht criteria exactly because they had to help those who are accusing them now.

Globalization of the unscrupulous extortion and looting. In the summer of , first the City of London and then, in December, the FED raised to nearly four times the determining basic interest rate. Owing to this, the debt service burdens of the indebted countries and enterprises rocketed. Also Hungary had to carry such debt service burdens as if it had taken up four times more credits on the international money markets earlier.

The borrowers were forced to reimburse their previous debts by taking up newer credits, therefore the amount of government bonds continuously increased on the money markets. By the re-evaluation of these and by influencing the political and economic atmosphere, it was possible to obtain a large extra profit. The state or governmental debts represented the most secure claims, so raising money and crediting for them did not seem to be a risk-increasing factor.

The role of the central banks was forced into the background, and the credit money prevailed. As a matter of fact, the actual value of all money originates from the real economy. If the growth of the value-creating real economy, above a certain level, is not possible, any kind of money could be built upon this economy, but it could not be multiplied unlimitedly, only for the sake of satisfying the speculation needs of the investor financiers.

Therefore, also the multiplication of government bonds was limited. At the beginning of the ies, a newer money-creating method had to be applied, and this was the index trading , which means the selling and buying of index numbers included in the financial accounts.

These accounting indexes cannot be actually owned, but bets can be made for the evolution of the index numbers. This was what they called high degree capital leverage transaction. In this way, the great financial actors who determine the money movements could act jointly against the smaller and the undesirable, and thus assure a huge extra profit for themselves.

This practice made it possible for them to produce, prior to , synthetic money amounting to times the total world economic product, and to use it for speculation purposes. This money production technique, nevertheless, proved to be finite by the middle of At this time, the great financial investors moved such a big amount of synthetic money, which could not bear the publicity any longer. As we have already mentioned previously, the circulation and negotiation of these sums was done in off-shore environment, where the financial authorities could neither regulate, nor supervise the performed financial transactions, thus the business books of the global money makers could avoid control.

With these billions made from air — through bets —, the large investors bought up the value-bearing enterprises of the real economy, together with their physical assets. The international money cartel multiplied primarily the dollar, today still fulfilling the role of the reserve currency. The financial institutions specialized in the investment of financial instruments shifted on to the trade of promissory notes, since they could transform their value easier through the mass media.

The government bonds played an outstanding role in this, because it was relatively easy to influence the public mood at will, concerning the policy of the governments. This is why the programmes of the mass-media were primarily about the budgets, because the good or bad propaganda about them could efficiently move the price of the government bonds up and down. The world financial crisis, which started in and burst out in , was primarily caused by the unscrupulous striving to grab of the large banks. Especially the largest banks among the large ones thought that they could indulge in everything, because they are so big that the state cannot allow them to go bankrupt, as that would pull down the whole of the economic life with it.

Thus, the governments of the United States and of the European Union saved these financial institutions by accounting the long-term financial liabilities undertaken to the account of the taxpayers. The governments of the European Union supplied an aid amounting to altogether 4, Making reference to the Greek state bankruptcy, artificially inflated for blackmailing purposes, Athens was helped with billion euros in three years.

The valid contracts of the EU determine in detail the operation of the money system, irrespective of the fact that the given EU member state belongs to the Eurozone or not. The key terms of the regulation are the free competition and the open market. Therefore, the European Union does not have an own financial system, so all doors are open in front of the totally free and destructive operation of the speculation.

This is why the monetary policy of the European Union is weak. It is true, a so-called European System of Central Banks exists, but it is subordinated to the larger and open financial system of the world. The same cannot be said about its decision-making activity. It was not the institutions of the EU who made a decision on saving the banks, which got in trouble because of the irresponsible risk undertaking, but the individual states. It only needed the approval of the European Commissioner for Competition. This Commissioner for Competition was Neelie Kroes , who is well-known due to her close relationship maintained with the international money cartel.

In , she was the 47 th , in the 59 th , in the 38 th and in the 44 th. If the provisions of the European Union Treaty and its Attachments strictly forbid the individual member states to issue money, since this is the exclusive monopoly of the central banks and of the whole of the banking system, then how was it possible for a lady to permit, routinely stamping, that, the governments of the member states, in contradiction with the EU treaties, could charge their taxpayer citizens with 4, Who gave permission to Lady Neelie Kroes to do that? Who is going to call this person to task for that?

All this proves again how harmful an institution the European Union is, as the servile servant of the money cartel and the executor of its orders. The recently created, supra-state, imperial institution system of the European Union is futile and is hindering the really democratic operation of the Europe of Nations, based upon equality of rights. This indebtedness of the states of Europe serves exclusively the interests of the transnational money cartel. The fact that the European Union and especially its bureaucratic institutional system served the demands of the money cartel with such servility signals that the European Union is such a futile imperial structure, which does not enhance, but hinders the operation of the Europe of Nations.

What is necessary for the increased economic, social, political and cultural cooperation, can be achieved through the cooperation between nations based upon equality of rights more efficiently and more cheaply than through an imperial system got under the control of an extremely expensive, prodigal and bureaucratic hydrocephalus, which cannot even be controlled democratically.

The transnational money cartel needed this artificial imperial makeshift to put its strategic goal, the establishment of a global system controlled from a single centre, into practice as soon as possible. For the sake of the finalization of its private money monopoly on global scale, this transnational money cartel needs to annihilate, within the individual national states, the middle class, and, on international level, the national states detaining claims of sovereignty.

The cheapest way of annihilating the national states — which requires neither army, nor war — is when these national states are forced into an imperial structure, and the individual member states are reduced to the status of regions with cultural autonomy. In the case of economies operating in different conditions, the euro is unsuitable for serving the real economy.

Those, who do research in the field of the currency zone operating optimally, have revealed that the common currency concentrates the money capital. This means that it regroups the resources from the weaker to the stronger, that is from the periphery to the centre. In this way, it deepens the differences between the countries belonging to the currency zone.

These deviations could be equaled with the different currency rates, but this issue is excluded by the common currency. Following the important conferences of the international money cartel held in TC — Dublin; CFR — Montreal; Bilderberg — Sitges , decisions were made concerning that the financial and economic equilibrium should be restored, among others, with budget austerities. Nevertheless, keeping the budget deficits under control is not suitable for this purpose. They are talking so much about budget deficit primarily because this reacts upon the risk of government debt bonds.

Their pricing and quantity already depends on the international banking system. The budget of a state depends primarily on the operation of the economy of the given country. If this economy cannot produce enough income, the state will not have enough revenue to cover its public expenditures, and, in this case, deficits occur necessarily in the budget. If, on the other hand, the deficit grows, the crediting risk increases, and the financing becomes more expensive, which makes the deficit increase even more.

The income production of the economy is determined by the bank crediting. If the productive economy does not get enough medium, or, in other words, there is not enough money driven onto the economy, but, at the same time, it has to reimburse the debt service burdens, in fact a money withdrawal is going on. In such a case, if the budget does not get credit for financing the public tasks, it is possible to enforce the transformation of the large distribution systems and the cutting down of the financing of public tasks. The society perceives that the decay is continuous, but — since the mass media institutions hide away the real causes of the operation of the money system, and the controllers of the monetary system misinform the people — it is possible to create the appearance that it is the fault of the budget , because it overspends.

The society is also guilty, because does not consume in proportion with its value-creating labour, that is its consumption is bigger than the result of the work done. In this neo-liberal money rule world order, the moral value standard was not only pushed into the background, but even deleted. It is basically immoral to limit the supplying of the economic actors, struggling against economic hardships, with financial media, on the reason that the risk of repayment increased, so financial instruments can be obtained only for an essentially higher interest.

The logics of the natural economic order would dictate that, in such cases, all actors of the economic life should undertake surplus burdens. The entrepreneur got in a difficult situation should not be hit with punitive interest rates, but should be supplied with working capital and other financial instruments with a smaller debt service burden.

This is what concludes from the natural laws and universal morality. The Islam is more moral. In contradiction with the Christian and Jewish religion, the Islam forbids the collecting of interest even in our days. If an oil sheikh wants to invest his money, he looks for an actor of the real economy, who will add his productive work to this, and will produce surplus value bearing real economy product or service.

If this activity is successful, they share the surplus value in a previously determined proportion. If this economic activity is unsuccessful, they bear and share the loss in the same ratio. And if there is neither profit, nor loss, none of them has any claims against each other. In practice, the value-producing activity needs also a third actor, who brings together the owner of the money instruments with the performer of the productive activity.

This Islamic financial institution or bank is the organization which manages the investment of the money instruments into the real economy, i. This practice is more moral than that one followed by the Euro-Atlantic type banking system of the current money rule world order. A single man, alone, cannot make even a single pin in all his life.

If it is so, it is even more true that a whole branch of industry cannot be operated by a single actor. All that is created through the human civilization is the result of a joint human activity. Therefore, both the responsibility and the burdens must be carried jointly. How is it possible that, among the actors of economic life, only the owners of one of the factors — i.

The new Banking Act of the United States. The new Financial Reform Act adopted by the Congress of the United States, which makes up 2, pages together with its attachments and preamble, contains important provisions even in its very diluted final version, as follows: Hereafter, the contracts have to be formulated in plain and easily intelligible language, so that they could be understood even without special qualification.

Hereinafter, credits may be given only if the capacity of reimbursement is assured from the part of the borrower. An important change is that, after then, capital must be placed behind index trade, and it must be handled transparently. In the future, it will not be possible to pay bank-saving aid packages from public money. The large capital funds and investing financial institutions cannot control the credit rating institutions any longer, which, hereafter, will be responsible and accountable for their credit rating decisions.

Hereafter, the leaders of the commercial banks can also be held responsible for their decisions. The parasite European banking system. The Euro-Atlantic region should copy the new regulation adopted in America, since its financial system influenced extremely prejudicially the economic life. Under the current regulation, Hungary belongs to the most defenceless group in this area.

From on, the flooding-in of speculation money, of portfolio capital rocketed. The main cause of this was that the foreign banks operating in Hungary drew in more and more resources from their mother banks, speculating on the continuously high interest rate of the Hungarian currency, the forint. The European banking system is sponging Hungary as a parasite. The central banks of the EU member states are obliged to keep their reserves in the business banks of another country, so that it should bring income. Due to the big interest rate difference, an extremely big amount of these moneys arrived in Hungary.

Since the safest money deposit is at the central bank, a sum corresponding to several thousand billion forints was deposited there. The interest of these thousands of billions is paid from the budget by the Hungarian state. This increased the indebtedness of the state even more, because the high interests could only be financed by issuing new government bonds.

Not only the state, but the whole country got indebted, because the drawing-in of capital of the banks registered in Hungary appears as the debt of the whole Hungary.

Complete book: The Dark Modern Age – A Farewell to the Enlightenment by Janos Drabik

In the autumn of , not the public finance, the public sphere this is only a part of national economy, besides the enterprises, the financial sector, the individual households and the citizens got indebted, but the whole Hungary, and, within it, the private economy. This indebtedness was promoted by the representation in Hungary of the international money cartel, the Hungarian National Bank MNB , with its specific interest rate policy.

The interest rate of the forint was so high that neither the individuals, nor the corporations could be credited at such a high interest, because they would have not been able to manage with credits at such high interest. Only the public finance, i. The handlers of the state debt could do whatever they wanted to the budgetary act. The increasing of the number of public securities was advantageous for the international capital market, because more securities on the money market assure a greater scope of action for speculation. In the sphere of crediting the population, the enterprises and the local authorities, the banks, instead of actual payments in currency, have only shifted to the currency-based accounting.

The interest rate seemed to be more advantageous, and this came in handy for the banking system for several reasons. The interbank interest rate of currencies was generally extremely low, so they could apply a big interest margin. The mother banks could send the money here expensively, but they took out the income as expense, although the visibly smaller currency interest rate already contained a rather big profit margin.

When taking back the currency poured into Hungary, the investors were able to avoid even the possibly occurring exchange rate loss, because, through the credits accounted in currency, the population would pay more, in accordance with the sum of the exchange rate loss, and thus the risk could be shifted onto the Hungarian people. In consequence, the financial investment became almost totally riskless. Join other followers. This is a D. The Big Day Report March 30th, Institutions of crime Big days have come, gone, and come again Manipulations: Market Exchanges crash, wars, government Elections, and Taxation.

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