Bankocracy #1 Rule by Banks — a review
by Sue Peters GPNY
On February 4, 2025, John Titus announced the first episode of his new 8-part video series, The War for Bankocracy: Warning Shot. The word 'bankocracy' means rule by banks.
The goal of the series is to inform people of the current attempt by the Federal Reserve (the U.S. central bank) to convince Congress and the American public that the Federal Reserve should have total sovereignty — that is, have no oversight by our Congress. Even more important, the series will include the history of the Federal Reserve's hidden takeover of the CREATION of our nation's money supply from our sovereign government. The creeping increase of Fed power parallels the increasing concentration of wealth by global elites, along with the increasing impoverishment and indebtedness of our communities, families, and every citizen's life from birth to death.
The stimulus for this series was the publication of a May, 2024, Biden White House memo, titled "The Importance of Central Bank Independence." [download pdf] The memo defined an independent central bank as: "...one that can carry out monetary policy without political interference." Thus, the memo:
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supports the total freedom of the Federal Reserve from the U.S. government; that is, removes the constitutional right of Congress to oversight of the Federal Reserve
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ignores the historical and legal fact that the Federal Reserve was created by Congress in 1913 by passage of the Federal Reserve Law
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ignores the legal fact that Congress can cancel the Federal Reserve Law, and thus take possession of the Fed
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tries to convince the public that our society functions better, when the Federal Reserve is not interfered with by Congress — meaning a 'Bankocracy' would be better than a republic!
FACT: there are very few central banks in the world created by a government with a CONSTITUTION. The U.S. Federal Bank is one of them. Our Constitution keeps the control of our nation in the hands of the people of the United States, and not the Bankocrats, and is why the Constitution must be preserved for the sake of our freedom and prosperity. Government oversight of the Federal Reserve must be preserved.
The nature of bank money creation has been hidden from the citizens, from the beginning of our nation. No disclosure of banks' powers is found truthfully explained in textbooks, major media, etc. I hope to bring some truth to light by commenting on John Titus' episode #1 with these facts:
Banks CREATE checking account deposits, by making a loan contract with a borrower.
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The loan contract is an asset to the bank.
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The loan deposit in the borrower's checking account is the loan principal, which the borrower is legally bound to repay, along with interest to the bank.
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If the borrower fails to repay principal plus interest, the collateral is repossessed by the bank.
Don't you wish you had this power?
I hope these comments whet your appetite for this series on BANKOCRACY – Rule by Banks. [then click on yellow link labeled 'episode']
Eroding Foundations
by Kevin McCormick GPTX
The Biden administration destroyed the moral foundation of the American empire and the Trump administration is doubling down on policies that will destroy the economic foundation of the empire.
As we are painfully aware, the Biden administration pursued an imperial war agenda that has left Ukraine and the Palestinian enclave of Gaza in ruins, with hundreds of thousands dead or injured. The world recognized the moral depravity of these policies and is in the process of rejecting American political dominance through the BRICS development and independence of subjugated countries, most notably in Africa.
The Trump administration, while continuing imperialism, is pursuing economic policies intended to protect the fossil fuel industry with subsidies and by restricting renewable energy sources and electric vehicles. These policies are tragically harmful to our environment while maintaining the status quo of the United States being tethered to inefficient, polluting, and expensive fossil fuel energy. Yet, the rest of the world is moving to wind, solar, and battery energy systems. The loss to the U.S. empire will be not only from clinging to obsolete energy technology but also from the erosion of an important basis of empire — the control of fossil fuel supply and distribution using money and military force. This global debt system is coupled with a hugely wasteful military industrial complex which, while producing large profits for the corporate elite, is an overall economic drain on the United States. Up to now the world has been forced to use U.S. dollars to purchase fossil fuels on the world market, but this need will decline as, among other reasons, the urgency of supply is reduced and less and less fossil fuels are purchased.
Like King Canute, Trump is trying to hold back the tide. The growth of solar energy installations continues to accelerate and in the coming years it will overwhelm all other energy sources. Australian solar industry pioneer Andrew Birch explains: "We've been told a clean transition will cripple the economy, when in fact, it will save us $9 trillion dollars a year by 2035." Yet, Trump, strengthening existing policy, is committed to billions of fossil fuel subsidies and military spending.
China has taken the lead in technology and its leadership in renewable energy technology will drive adoption of solar, wind, and battery energy systems worldwide. As the "Americans React to Red Note" video demonstrates, Americans are shocked when they see the true picture of China — the image of a world leader in many aspects of society and economy. In India, solar power is transforming the electricity system as rooftop solar installations increase at a quickening pace. The exponential growth of solar power is a worldwide phenomena.
The U.S. political establishment has chosen to protect the cartels and monopolies in the face of transformational technology and geopolitical change. One very important reason for the U.S. dedication to fossil fuels is the enormous investment made by the banking cartel, which is central to the entire Wall Street structure. As reported by the Sierra Club, "Since the Paris Agreement, from 2016–2023, the world's 60 largest private banks financed fossil fuels with USD $6.9 trillion." The U.S. military spending over that period was $6.08 trillion. Imagine $6.9 trillion of stranded assets coupled with military spending of $6.08 trillion and you begin to see how completely wrong-footed the empire has become in the face of new technology and new political challenges emerging worldwide. The foundations of the empire are being eroded ever more rapidly.
The heart of the U.S. establishment is the Federal Reserve banking cartel, which will face staggering losses as these transformational changes proceed. We have written and said much about the injustice of the Federal Reserve System. The Federal Reserve private bank credit-money system makes our money a form of interest bearing debt, driving an insatiable exploitative and imperialist machine which afflicts and oppresses our society. We often overlook the effects of the monetary system even though money is a constant concern, just as fish are said to be unaware of the water in which they swim. By its design and operation, the Federal Reserve monetary system favors the wealthy and concentrates economic power in an elite corporate royalty. The inherent injustice of the Federal Reserve system leads to the ubiquitous presence of debt and corporate exploitation in our lives, which explains much of why the voices of the people heard in "Americans React to Red Note" will grow louder and more insistent.
The continuing innovation and progress of wind, solar, and battery technology is an impressive testament to human ability to meet and overcome challenges. But to truly enjoy the benefits of human progress we must gain democratic control over the money system. While China developed wind, solar and batteries, the Federal Reserve monetary system produced asset bubbles, inflation, and a few billionaires. Our ever-growing debt is clear evidence that the private debt-money system of the banking cartel serves a privileged few and exploits the public. Money should be designed to serve the public and the monetary system should be under the control of a democratic government.
It is my hope that the Green Party will identify more closely with working people and climate justice by taking the side of the transformational change that is upon us. That change should include a transformation of our monetary system as described in the Green Party platform section titled "Greening the Dollar," to free us from the over-indebtedness, inflation, and malinvestment of the banking cartel.
Privatization vs Sovereignty
by Howard Switzer GPTN
The Alarming Privatization of Government Payments
What is sovereignty? Sovereignty is the supreme power that a nation or state holds to govern itself and make decisions without external interference. It is the capacity of a country to exercise its authority over its territory, government, and citizens. It entails the exclusive right of a state to establish its laws, policies, and government systems, as well as to interact with other countries on the international stage. It is a fundamental principle that underpins the autonomy and independence of a nation, ensuring its freedom to determine its destiny and protect the interests of its people. Creating a debt-free money supply is the most vital prerogative of democratic self-governance.
Most people think the government creates our nation's money supply, as any sovereign government should, but our monetary system was privatized and given to a corporate monopoly over one hundred years ago. The for-profit commercial banking system creates our money supply as interest-bearing debt in the process of making loans and they are all owned by the biggest wealth management firm in the world. What people don't know is that this monetary system is the source of most of the world's biggest problems.
While we are all focused on the revelations of where the money has been going, perhaps the most important revelation is that all that money is borrowed at interest. However, reportedly Trump and Musk have taken measures to further privatize the US financial transaction system and scrap oversight bodies. Clearly those oversight bodies have not been doing their job and neither has our corporate donor-controlled Congress, but further privatization will only exacerbate the problems. We are all witnesses to the mess the current privatized system has gotten us into; concentration of wealth, wars, homelessness and environmental degradation, just to name a few. If the patient is having trouble breathing, you don't put a pillow over their face. Real oversight and transparency are what we should be doing, further privatization is not the answer.
This reminds me of what Donella Meadows said about "leverage points", a point within a system where one small change can change the entire system, and how when system's analysts identify one, they often discover there is already a lot of attention on it, all pushing it in the wrong direction. Further privatization of our financial system is pushing it in the wrong direction if we want a strong, stable and productive economy. Instead of further privatization of our nation's finances our government needs to fulfill its obligation to We the People mandated in the Constitution. This would mean reclaiming the nation's sovereign power to create our money supply debt-free for the security and general welfare of the nation, not for corporate elite profits.
I think most people may never have heard of Sovereign Monetary Reform, despite legislation that has been written and introduced over the years to do so. However, it is a much better alternative to the further privatization of the US financial transaction system and the dismantling of oversight bodies, here are some reasons why:
Stability and Public Trust:
Sovereign monetary systems provide a stable and predictable financial environment. Privatization has led to volatility and a lack of accountability, eroding public trust in the financial system. A public system ensures that monetary policy is aligned with public interest, rather than being driven by profit motives.
Economic Sovereignty:
Sovereign monetary reform ensures that the government retains control over the money supply, which is crucial for implementing effective fiscal and monetary policies to build a 21st century physical and social infrastructure, energy, transportation, food production, healthcare and education. Privatization has already undermined this control, with conflicts of interest and the loss of our economic sovereignty. By maintaining real oversight bodies, the government can monitor and regulate financial activities to prevent fraud, abuse, and systemic risks. Of course we must have honest people to operate this.
Inclusive Growth:
Sovereign monetary systems allow investment in communities that have intentionally been left behind. Financial resources can be allocated to areas that benefit the broader population, such as infrastructure, education, and healthcare. Privatization often leads to wealth concentration in the hands of a few, exacerbating inequality and limiting opportunities for the majority.
Crisis Management:
In times of economic crisis, a sovereign monetary system allows the government to take swift and decisive action to stabilize the economy, such as injecting liquidity or implementing stimulus measures. Privatization will hinder such efforts, as private entities prioritize their own interests over the public good, worsening the crisis.
Regulatory Oversight:
Oversight bodies need to do their job because they play a crucial role in maintaining the integrity of the financial system by enforcing regulations, preventing illegal activities, and ensuring transparency. Scrapping these bodies will lead to further lack of accountability and increase the risk of financial malfeasance, which could have severe consequences for the economy.
Long-Term Sustainability:
Sovereign monetary reform can be designed with long-term sustainability in mind, ensuring that financial policies support economic, social, and environmental goals. Privatization only focuses on short-term profits, which can lead to unsustainable practices and neglect of broader societal needs.
Historical Precedents:
The 2008 financial crisis highlighted the dangers of insufficient oversight, and the risks associated with excessive privatization. Sovereign monetary systems with robust oversight have proven to be more resilient in the face of economic shocks. Historical examples in the US of debt-free sovereign money are rare but the civil war greenbacks saved the nation from dissolution.
Global Competitiveness:
A well-regulated sovereign monetary system would enhance the US's global competitiveness by providing a stable and reliable financial environment that attracts investment and fosters innovation. Further privatization will lead to a fragmented and less predictable financial system, potentially deterring international investors.
By emphasizing these points, we can make a compelling case that sovereign monetary reform, supported by strong oversight bodies, is a more effective and sustainable approach than further privatization of the financial transaction system
Building BRICS
by Howard Switzer GPTN
BRICS is an intergovernmental organization consisting of ten countries—Brazil, Russia, India, China, South Africa, thus the name, as well as Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. Now, 13 more countries have joined BRICS, among them is Cuba, joining an alliance of emerging economies alongside Algeria, Belarus, Bolivia, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam.
BRICS emerged as a reaction to the brutality of the dominant system and became more relevant when the world witnessed Russia's and other's accounts being frozen. BRICS represents an act of sovereignty and resistance in the face of the external pressures of the dollar regime whose focus is on war and subjugation for profit. BRICS countries want trade and sustainable development and want to use their own national currencies for trade, exercising their sovereign right.
Western critics see BRICS as simply another power bloc attempting to carve out a larger and more profitable space for itself in a world divided up by imperial powers. That seems to me to be a CIA style projection, (attributing one's own feelings, thoughts, or behaviors to others), an interpretation in defense of the dollar dominance by claiming other countries have the same imperialist intentions that the Anglo-American Empire does despite all the evidence otherwise. I think we all should advocate reforming the debt-based monetary system to a sovereign money system and join the world in creating a prosperous economy for all, honoring the sovereignty of other nations.
The US has been a major market but is being destroyed by the corporate driven policies of greed. I think Trump's 100% tariff would give the BRICS countries an impetus to move forward faster rather than to capitulate.
Private money-powered leadership is not smart, it is stupid. The hedge-fund morons who take over companies like Boeing and then gut them for profit are unable to think past the next quarter, if even that much. The governments they buy are even dumber. They have been in the process of destroying economies for profit for decades. They destroyed Britain's economy with Brexit, plunging most into a depression and they are in the process of doing the same to the US. First export your entire industrial base so that you are forced to import everything then impose a 25% tariff on those products. What do you think is going to happen?
We need a revolution that will replace the private debt-based money system that concentrates wealth and power to the top with a public asset-based system that distributes wealth and power broadly at the bottom. Greening the Dollar would make this possible to do.
