From Unbekoming @ substack

Most people go through their entire lives never questioning where money comes from. They assume governments create it, that banks merely store and lend it, and that economic crises are natural phenomena like weather patterns. Stephen Mitford Goodson’s “A History of Central Banking and the Enslavement of Mankind” demolishes these assumptions with documented evidence spanning three millennia: for over three centuries, private banks have created 97% of the world’s money supply from nothing, as interest-bearing debt. Banks don’t lend existing money – they create new money by typing numbers into computers, then charge compound interest on this fiction while seizing real assets when the mathematically impossible debts can’t be repaid.

Goodson’s authority comes from his position as a former Director of the South African Reserve Bank who witnessed firsthand how central banks operate. Unlike academic economists who theorize from ivory towers or journalists who speculate from outside, Goodson sat in the boardroom where monetary policy gets made. He saw the mechanisms of control, understood the deliberate creation of booms and busts, and recognized the same patterns of manipulation he would later trace through Roman copper coins, medieval tally sticks, colonial scrip, and modern electronic transfers. His sudden death in 2018, like so many monetary reformers before him, fits a familiar pattern.

The historical evidence reveals consistent outcomes: whenever governments issue their own money debt-free, civilizations flourish with full employment, stable prices, and cultural achievement. Medieval England’s workers labored just fourteen weeks yearly when tally sticks served as money. Tsarist Russia grew 10% annually with the world’s lowest taxes under state banking. Hitler’s Germany eliminated unemployment while doubling GDP in six years using state-issued currency. Modern North Dakota maintains budget surpluses while every other American state drowns in debt. Every one of these successful systems was destroyed through war, revolution, or assassination. The French Revolution, the American Civil War, both World Wars, the Bolshevik Revolution, the recent destruction of Libya – all were fundamentally about destroying state banking systems that threatened private usury.

The mechanism of enslavement works through mathematical impossibility. When banks create money as debt, every dollar in circulation requires more than a dollar to repay because of interest – but that extra money doesn’t exist unless more debt is created. Society must sink ever deeper into debt just to maintain the money supply, while compound interest transfers real wealth to parasites who produce nothing. When the Federal Reserve creates a trillion dollars with keystrokes, then collects interest on it forever, that’s counterfeiting with legal protection. Sir Josiah Stamp, former Bank of England director, stated it plainly: banks own the earth through their power to create deposits, and with a flick of the pen will create enough to buy it back again even if you took it away.

Today’s cascading crises are predictable outcomes of this system reaching its mathematical limits. The demographic collapse across developed nations – with fertility rates below replacement from Germany to Japan – stems directly from compound interest forcing both spouses to work ever-longer hours for diminishing purchasing power, making children unaffordable. The 2008 crisis that destroyed millions of lives while banks received trillion-dollar bailouts was the system working exactly as designed: create the bubble through easy credit, crash it through credit restriction, then seize real assets during the panic while taxpayers fund the rescue. Goodson documents how every leader who tried to reform this system – Lincoln, Garfield, Kennedy, Qathafi – was assassinated, while every nation that created sovereign money – Napoleonic France, Imperial Russia, National Socialist Germany, modern Libya – was destroyed through wars marketed to the public as ideological conflicts.

The implications of Goodson’s work challenge our entire understanding of modern history. Wars are fought to enforce banking monopolies, not ideologies. Democracy operates as theater while private banks hold true sovereignty through money creation. Our enslavement is mathematical rather than political. The current system’s end game is civilizational extinction, as usury makes human reproduction itself unaffordable. Yet the solution has been proven successful hundreds of times throughout history: governments must reclaim their sovereign right to create money debt-free for the public good, as the American colonies did with colonial scrip, as Lincoln did with greenbacks, as North Dakota does today. You’ve never heard these success stories. You don’t know banks create money from nothing. You believe wars are fought for freedom rather than to enforce debt slavery. This ignorance is carefully cultivated, because as Henry Ford warned, if people understood the banking system, there would be revolution before morning.

With thanks to Stephen Goodson. RIP.

A History of Central Banking and the Enslavement of Mankind | Stephen Mitford Goodson

SOURCE: https://unbekoming.substack.com/p/a-history-of-central-banking-and

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