NEO Magazine Issue 2 - Page 29

borrowers’ transaction account. banking system. • The bank lies to the public, telling them that they are making a loan (that must be paid back at interest). • It is the promise of future labour of the man acting as the legal fiction ‘borrower’ that increases the supply of fictional credit money in the fractional reserve system. • The bank then accepts the loan application form/offer as a promise to pay in accordance with the relevant national Bills of Exchange Act (much like the ‘promise to pay’ bank notes in your wallet). • Because they now have something of value from the ‘borrower,’ they are authorised by the banking system to create out of thin air the credit money that the ‘borrower’ wishes to ‘borrow.’ • Essentially it is us, the alleged lenders, who make the loan to the bank, not the other way round. This credit expansion process is a massive fraud upon the people – we have been hoodwinked into believing our value lies in worthless pieces of paper, to the extent that we are willing to bind ourselves into servitude just so we can have them! But the • In essence the bank has simply con- good news is that we the people are colverted the ‘borrowers’ promissory note into lectively starting to wake up and smell the usable credit money. They have not lent a proverbial Rat in the Kitchen. The cold light single penny of their own money or of any- of dawn reveals to us all the most obvious one else’s money. 100% of the monthly of truths – WE ARE THE VALUE IN THE SYSpayments you make on a loan, mortgage TEM. And if we are the value then we are or credit card are effectively profit to the the ones with the power to change it for