NIALL FERGUSON AND THE BANKING CONSPIRACY
I say unsurprisingly because he didn't say much and what he did he confused. For example he frequently used the terms "money" and "credit".
Is there a difference? Yes. Money exists. Credit does not.
For example, Ferguson referred to the Spanish using slave labour to mine gold and silver from North Peru. If the Spanish required credit, why did they use slave labour to mine gold and silver from North Peru? Because in the medieval age money was money; real, hard money.
Somewhere along the way credit started.
Credit is what you would think it to be; credit.
It's not quite lending, for in lending transfer of real, physical products takes place, such as silver coin mined from the mountains of North Peru.
Credit is different; very, very different.
Because credit does not exist. It is simply that; credit.
Credit is simply created out of nothing, and does not exist.
A banker can issue credit because it is very easy to make, and make someone believe it exists, by, using a unit of measurement that does exist, e.g. pound sterling.
So a banker can issue several billions of credit because that banker knows it does not exist, but he or she knows that another banker elsewhere can issue another several billions of credit. The game for the bankers is that a fraction of those billions will be unrecoverable. But the rest, by financing industry or commerce will be, thus making the banker who recovers most very rich, by making money out of nothing...and all by sitting on their arses while we, the muggins human race, does all the work!
That's how it works!
How else can you explain why bank buildings are the biggest in town?
And war, in which people (not bankers) actually die horrible, gruesome deaths, is the biggest debt-generator and profit-maker of them all, world wars in particular!
Ferguson did not elaborate on this point, and I do not expect him to.
That is why he is Professor.
That is why he was permitted (limited) access to the Rothschild archives; because the Rothschilds know Ferguson has his head up his arse.
Ferguson, as excitable and naive as he is, just does not get it.
That is why he is who he is; Professor of Shite!
Even Spooks tonight is peddling some bollocks conspiracy theory that the recent banking collapse was a result of a financial terrorist attack (probably Russian, knowing Spooks).
If they wanted you to know they would tell you.
If they wanted you to know why the banking system collapsed there would be an inquiry. We have inquiries into all sorts of, in comparison, very minor events, but not in to why £500 billion is suddenly being made available to bail out greedy, gambling banks while we are supposed to be happy and cheer at raising a paltry in comparison £30 million for Children in need...AGAIN!
It's that simple; if they wanted you to know how the banking system worked they would tell you.
But they don't tell you.
Because they don't want you to know.
Hence the naive but likeable Ferguson appears to talk to you, to explain to you from the bottom of his unsuspecting heart, when he actually knows SWEET FUCK ALL!!!!