Freedom New Zealand

Solomon Star News
Friday, 20 February 2009

HISTORY is littered with commentaries by business, world leaders and academics on how the banking system is set up and what it was designed to do and has been doing ever since its creation.

It is fair to say that the masses may never know the real business of foreign banking. And yet, it is on the back of the masses that banks carry their successes in terms of profitability, year after year after year.

They make their money in a number of ways, including but not limited to charging phenomenal interest rates. In return they pay hardly anything to depositors.

Their practices border on daylight robbery – practices sanctioned by competent authorities and the legal system in every country.

Most, if not all, qualify for insolvency if they were to uphold the same rules imposed on ordinary folks.
But we will never know why they are allowed to continue in business.

And the reason we will never know about what banks do with your money [I don’t have any] is clear. No one in his right mind broadcasts the secrets of his success.

But history has been kind, leaving important indicators on the secrecy under which banks operate.
Many have left the door to banks ajar for those who care to peep in. People like Henry Ford, the man whose family name is synonymous with the United States auto industry.

Or Reginald McKenna, who was Britain’s Chancellor of the Exchequer and Chairman of the Board of the Midland Bank between 1915 – 1916.

Henry Ford, for example, once said of banks in the United States:
“It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning”.

Mr. McKenna said:
“I am afraid the ordinary citizen will not like to be told that the banks can, and do, create money … Those who create and issue money and credit direct the policies of government and hold in the hollow of their hands the destiny of the people”.

As indicated in this column last week, these are some of the issues I wish to discuss this week in the hope of enlightening us to the reality.

For example, given the practices by the banks, what do we as a nation need to do?
More work and less talking. Any meaningful intervention in this murky area, however, has to be spearheaded by Government and its monetary policy.

It is in this light that one, Kelvyn Alp, a New Zealander, has provided the Government a “must read” document titled, Solomon Islands Economic Reform – Monetary System and Taxation.

Copies were widely distributed to Members of Parliament, particularly Government Ministers and Members of Government Caucus last year. It was provided as a Parliamentary Discussion Document.
The 36-page document was dated 8th November 2008.

It is a ‘must read’ if one were to understand the banking system here, the monetary system and taxation and what is urgently required to deal with these problematic areas.

In the preamble, Alp says the document “is an urgent reminder of the need to look beyond the established and ultimately flawed economic theories that have caused such devastation to nations the world over”.

“All too often there are those that are ever ready to give advice to developing nations like Solomon Islands, while at the same time, concealing the true nature and intent of that advice. Change will never come from systems that have been proven to fail time and time again.

“In this document, I shall deal with the truth and facts only,” he said.

Alp argued that many have studied and received degrees for subjects covered in the document, “yet have never comprehended the underlying mechanics of those lessons and how they relate to real-world economies”.
He urged readers to be willing to put the interests of the people and nation above their own.

“This must be done despite the constant pressure being applied by some to retain the status-quo and further have you implement disastrous policies that will place you, your family and the nation, in a continuous position of servitude,” the former military man turned businessman said.

An avid reader of a wide range of subjects, I must say I am fascinated by the clarity and indeed the message being conveyed in this document.

The more I read this revolutionary document, the more I want to be out there doing something. The feeling I have experienced will only be felt if one’s passionate about what needs to be done and fast.

For example, how do you feel about phrases such as “today’s money [is] created by private interests for private profit”.

Alp quoted Mayer Amschel Rothschild, a banker who in 1790 said and I quote: “Let me issue and control a nation’s money and I care not who writes its laws”.

Many will probably recall reading somewhere that Rothschild was one of the founding fathers of what we know today as America’s Federal Reserve, the equivalent of our Central Bank.

The US Federal Reserve was never a Government institution. It’s an invention by businessmen who want to control the world’s wealth. And they do today. Only six per cent of the world’s population control today’s wealth.

Commercial banking, including those in Solomon Islands are merely an extension of the greed that has now thrown the global financial economy into tailspin.

Next week, I’ll take you through the banking system, the monetary reform and the many faces of money that banks “sell” us – faces fully disguised in deception and falsehood.


By ALFRED SASAKO

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