By December 30, 2015 17 Comments Read More →

Switzerland Follows Iceland in Declaring War Against the Banksters

Monoply-Banker-Bankster1Isaac Davis, Staff
Waking Times

If you want to continue to be slaves of the banks and pay the cost of your own slavery, then let bankers continue to create money and control credit.”Josiah Stamp

Iceland has gained the admiration of populists in recent years by doing that which no other nation in the world seems to be willing or capable of doing: prosecuting criminal bankers for engineering financial collapse for profit.

Their effective revolt against the banking class, who drove the tiny nation into economic crisis in 2008, is the brightest example yet that the world does not have to be indebted in perpetuity to an austere and criminal wealthy elite. In 2015, 26 Icelandic bankers were sentenced to prison and the government ordered a bank sale to benefit the citizenry.

Inspired by Iceland’s progress, activists in Switzerland are now making an important stand against the banking cartels and have successfully petitioned to bring an initiative to public referendum that would attack the private banks where it matters most: their power to lend money they don’t actually have, and to create money out of thin air.

Switzerland will hold a referendum to decide whether to ban commercial banks from creating money.

The Swiss federal government confirmed on Thursday that it would hold a plebiscite, after more than 110,000 people signed a petition calling for the central bank to be given sole power to create money in the financial system.

The campaign – led by the Swiss Sovereign Money movement and known as the Vollgeld initiative – is designed to limit financial speculation by requiring private banks to hold 100pc reserves against their deposits.”  [The Telegraph]

Switzerland is in a key position to play a revolutionary role in changing how global banking functions. In addition to being the world’s safest harbor for storing wealth, it is also home to the Bank for International Settlements (BIS)a shadowy private company owned by many of the world’s central banks, and acting as a lender to the central banks. The BIS is the very heart of global reserve banking, the policy that enables banks to lend money that does not actually exist in their bank deposits, but is instead literally created electronically from nothing whenever a bank extends a line of credit.

Reserve banking is the policy that guarantees insurmountable debt as the outcome of all financial transactions.

The Sovereign Money initiative in Switzerland aims to curb financial speculation, which is the intended and inevitable result of reserve banking, the tool that makes financial adventurism possible by supplying the banks with endless quantities of fiat money.

Limiting a bank’s ability to produce money from nothing would be a direct blow to the roots of the banking cartel, and would cripple their ability to manipulate the world economy. Here’s how it works, in rather simplified terms:

“…if we had access to the same computer terminals the banks have, we could magic in or out of existence all the imaginary stuff we are trained to think of as important – money – in whatever quantities we liked.

This is how it works: when they print quite a lot of this stuff there is a boom. When they print too much of it, there is inflation (actually, the printing of money is inflation). When they stop printing it or simply hold on to it, there is a depression.” [Source]

In Switzerland, 90% of all money in circulation is electronic, and for this, The National Bank of Switzerland has become the direct target of the Sovereign Money Campaign. Swiss law has in the past required required banks to back all currency creation with collateral assets like physical silver or gold, however in recent decades the climate has changed, and, “due to the emergence of electronic payment transactions, banks have regained the opportunity to create their own money.”

The grass roots campaign said in a public statement regarding the intentions of the referendum, “banks won’t be able to create money for themselves any more, they’ll only be able to lend money that they have from savers or other banks.”

READ: Former Presidents Warn About the “Invisible Government” Running the United States

Swiis National Bank

This is an interesting twist in the human saga of man vs. banks, and while it remains to be seen if the referendum passes or not, it must be pointed out that it does have its own problems, articulated by Sam Gerrans:

“… it does say that the central bank should be given sole right to create money. This would essentially leave the creation of money in the same hands as those who control the Federal Reserve or the Bank of England rather than allow them to farm out the process. But at least it shows that people are beginning to wake up to where the true power lies.

In the unlikely event that this grass-roots movement in Switzerland should get its way and its proposed legislation be enacted, and then begin to morph into something which really does threaten the banking elite, we must not be surprised if Switzerland is shortly discovered to be harboring weapons of mass destruction, or to have masterminded 9/11, or to be financing Islamic State.”

Part of the cultural conditioning of our time is an ingrained, pre-assumed dependency on sacred cow institutions like banking. Just like it is impossible for most Americans to envision a world without Democrats and Republicans, it is difficult for most people to imagine a world without predatory global banking.

Yet, there are a number of other possibilities for trading, storing wealth, and facilitating development in the world. This is not the only economic system we can imagine, and as Iceland has proven, people can regain control of their collective wealth, so perhaps this revolution will foment further in Switzerland, presenting a chance to at least bring greater awareness to the truth about central banking.

Read more articles from Isaac Davis.

About the Author

Isaac Davis is an outspoken advocate of liberty and an honest society from the top down. He is a contributing writer for WakingTimes.com. Follow him on Facebook, here.

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This article (Switzerland Follows Iceland in Declaring War Against the Banksters) was originally created and published by Waking Times and is published here under a Creative Commons license with attribution to Isaac Davis and WakingTimes.com. It may be re-posted freely with proper attribution, author bio, and this copyright statement.

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  • petervq
  • Jock Doubleday

    No one has ever declared war against the bankers. People across the world are only now starting to defend themselves against bankers who declared war against our forebears over 200 years.

  • Seed_of_Albion

    WHEN?? Would it have been too much to say WHEN the referendum is to be held? Or if not yet scheduled, would it have been too much to say so? Not much of a story.

  • Lila Joseph

    The banks are controlled by the same families who control everything else, medicine, food agriculture, oil, seeds and in some places even the water on this plaet which they take for little or nothing while we have to pay exorbitant prices for.They are poisoning us and we pay them for the priveledge!

  • Tami Chapman

    I don’t like it referred to as “declaring war”, which is counter-productive, but it’s another step in the right direction.

  • Reason0Politics1

    simply illustrated, the root issue. P < P + I

  • OrangeJuiceFastLarsen

    Until humans all behave and all do the next right thing, governing committies will be needed. Clean and pure one thought at a time. Civilization is a noble goal.

    • Faechyld

      At what point in history has that ever happened?

  • Najob

    From http://www.armstrongeconomics.com/archives/22291: “Today’s monetary system is falling apart not because the central banks have lost control of the money supply with private banks, they have lost control also in part because government always spend more than they take in and they borrow never paying anything back. Eliminating private banks from lending more than the cash on hand will send interest rates soaring and then the economy would collapse completely for government would still be borrowing and competing for a smaller supply of money to survive.”

    • murrayzz1

      This is very confused thinking. The whole point of excluding private banks from the process of money creation is to put it under the direct control of democratically elected governments. Money creation is then controlled by the needs of society, not the profit-seeking of private individuals.

      There is no reason why this would lead to “soaring interest rates” and this is simple scaremongering. Neither would it lead to inflation, provided the creation of new money is properly controlled, which is easier to do under an alternative system than it is under today’s system.

      The idea that “government would still be borrowing” demonstrates a complete lack of understanding of how an alternative system would work. If governments need more money, it is created by the government rather than being borrowed from a bank.

      This is no different from borrowing, except that there is no crippling interest to pay. In fact, such a system would eliminate the concept of public debt entirely. Nor would there be a “smaller supply of money”. If you are interested to discover more about how an alternative system would actually work, read the book “Modernising Money” by Ben Dyson and Andrew Jackson.

      The actual reason that today’s mpnetary system is falling apart is the same reason as the dozens of other banking crises that have occured globally in the past century. It’s because our financial system is inherently unstable and boom/bust cycles are inevitable. Why? Because banks have the power to create money.

      Take that away, and the financial system will instantly become more stable, controllable and predictable.

  • Philip Hibbs

    wow! private savings accounts would have decent returns if fractional banking practices were curbed back..as far as some of the speculative comments concerning 9/11 and or ISIS and or weapons of mass destruction i believe the author is liable..the funding of ISIS ? i thought they were a break away group that has been selling oil..and 9/11..the perps are still out there..

    • sprinch

      you’ve not understood the angle of the 9/11 isis comment

  • BDBinc

    The central bank is controlled by private banksters as is the shadow govt. Doing this which is but an Illusion “jailing low level bankers” is for showing off the nations they are using to promote a cashless bankster society as “progressive ” people will not suspect a thing if the nation rolling out bankster utopia “sent a couple of small fish banking minions to jail” . The whole banking system is fraud!!
    If the corporate banking cabals “govt” controls the bank what difference would it make, NONE.

    • BreatheDeep

      We see you’re in the propaganda business spewing forth nonsense as it relates to the word “progressive”.

      Snap out of it.

    • Dimitri Ledkovsky

      Right. It’s a head fake. Meanwhile it’s business as usual at Zio Central.

      • Padraigin Eagle

        Without doubt.

    • Padraigin Eagle

      Passing referendumbs: Machiavellian to be sure

      To be fluc$ing sure, BDBinc, Swiss Wan$ers sure ain’t no cure for the blight of Zio, the Rottenchild Bio, 2016 be their sign when they attempt their greatest
      crime, awakened be not enough, it’s time to shred them and their toxic
      stuff.

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