by Kevin Alfred Strom
The shipwrecked men of the island thought they were lucky when Abraham Glucksterlingmann washed up on the shore and offered to “help the economy” there by creating a money system for them. It was all supposedly based on the gold Abe held in his “vault,” a sealed and hidden barrel. The money system Abe gave them was based on debt — just as our money system is. He lent each of the five men $200, a total of $1,000, at 8 per cent. interest, with their possessions as “security.”
At first, all went well. The economy expanded now that they had a money system. But the trouble began when the men figured out that, including interest, they owed Abraham $1,080 at the end of the year — and there was only $1,000 in total on the island, for that was all that Abe had created. Abe’s only answer was to “lend” the men more money to make today’s interest payments, putting them even further in debt and even more in danger of having their properties seized by Abe.
Let’s look in on the little community and see what’s happening now. Listen:
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14. The Wolf Devours the Lamb
Abraham the banker continued to explain his money system based on debt — and backed by that buried barrel of gold: â€œGentlemen, all sound money is based on gold and it comes from the banks in the form of debts. The national debt is a good thing. It keeps men from becoming too satisfied. It subjugates governments to the supreme and ultimate wisdom, that which is incarnate in bankers. As a banker, I am the torch of civilization here on your little island. I will dictate your politics and regulate your standard of living.â€
â€œMr. Abraham, weâ€™re simple, uneducated folks, but we donâ€™t want that kind of ‘civilization’ here. Weâ€™ll not borrow another cent off you. ‘Sound money’ or not, we donâ€™t want any further transactions with you.â€
â€œGentlemen, I deeply regret this very ill-advised decision of yours. But if you break with me, remember, I have your signatures. Repay me everything at once — principal and interest.â€
â€œBut, thatâ€™s impossible, sir. Even if we give you all the money on the island, we still wonâ€™t be square with you.â€
â€œI canâ€™t help that. Did you or did you not sign? Yes? Very well. By virtue of the sanctity of contracts, I hereby seize your mortgaged property, which was what you agreed to at the time you were so happy to have my help. If you donâ€™t want to serve willingly the supreme authority of money, then youâ€™ll obey force. Youâ€™ll continue to exploit the island, but in my interest and under my conditions. Now, get out! Youâ€™ll get your orders from me tomorrow.â€
15. Control of the Press
Like Rothschild, Abraham knew that whoever controlled the nationâ€™s money, controlled the nation. But he also knew that to maintain that control it was necessary to keep the people in a state of ignorance and to distract them by a variety of means.
Abraham had observed that of the five islanders, two were conservatives and three were liberals. That much had evolved from their evening conversations, especially after they had fallen into slavery. And between the conservatives and those who were liberals there was constant friction.
On occasions, Harry, the most neutral of the five, had tried to unite the people of the island. Such a union Abraham could not tolerate; it would mean the end of his rule.
Consequently, Abraham set himself to foment, as much as possible, political strife between them.
The “refugee” put his press to work turning out two weekly newspapers, The Sun for the liberals, and The Star for the conservatives.
The general tenor of The SunÂ was: â€œIf you are no longer master of your own fate, it is because of those traitorous conservatives who have sold out to big business.â€
That of The Star was: â€œThe ruinous state of business and the national debt can be traced directly to the political irresponsibility of those unmentionable liberals.â€
And the two factions wrangled ferociously, forgetting the one who had forged their chains, that money master, the banker Abraham.
16. A Priceless Bit of Flotsam
One day, Tom, the prospector, discovered on a small beach, hidden by tall grass at one end of the island, a lifeboat, empty except for a trunk in good condition lying in the bottom of it.
He opened the trunk. Among the articles were a number of finely printed books. They included works by Ezra Pound, Clifford Hugh Douglas, Gertrude Coogan, and quite a number of works by German National Socialists.
Tom could read both German and English. Curious, he sat down and began to read the first volume that came to hand. His interest grew; his face lit up.
â€œWell, just look at this!â€ he cried out loud. â€œThis is something we should have known a long time ago!” He read:
Money gets its value, not from gold, but from the products which that money buys.Â Simply put, money should be a sort of accountancy, credits passing from one account to another according to purchases and sales. The sum total of money will depend upon the sum total of production.Â Each time production increases there should and must be a corresponding increase in the amount of money. Never at any time should interest be paid on this new money, however. Progress is marked, not by an increase in the public debt, but by the issuance of an equal dividend to each individual. Thus we increase the money supply without incurring one dollar of debt or paying one cent of interest to anyone. This we call Social Credit. . . .
Tom knew he would read more — read all these books, in fact — but he could no longer contain himself. He got up and set off at a run, the book in his hands, to share this glorious discovery with his four comrades.
17. Money â€“ Elementary Accounting
So Tom became the teacher. He taught the others what he had learned from that God-sent cache of books.
â€œThis,â€ he said, â€œis what we can do without waiting for a banker and his keg of gold — without incurring any debt — without mortgaging our property and our future.
â€œI open an account in the name of each of you. In the right hand column are the credits which increase your account; to the left are the debits which subtract from your account.
â€œEach wants $200 to begin with. Very well. We write $200 to the credit of each. Each immediately has $200.
â€œFrank buys some goods from Paul for $10. I deduct $10 from Frank leaving him $190. I add $10 to Paul and he now has $210.
â€œJim buys from Paul to the amount of $8. I deduct from Jim $8 leaving him $192. Paul now has $218.
â€œPaul buys wood from Frank for $15. I deduct $15 from Paul leaving $203. I add $15 to Frankâ€™s account and it goes back to $205.
â€œAnd so we continue; from one account to another in the same fashion as paper banknotes go from one manâ€™s pocket to anotherâ€™s.
â€œIf someone needs money to expand production, we issue him the necessary amount of new credit. Once he has sold his products he repays the sum to the credit fund. The same with public works; paid for by new credits.
â€œLikewise, each oneâ€™s account is periodically increased but without taking credits from anyone, in order that all may benefit from the progress society makes. Thatâ€™s the national dividend. As production and goods increase, the money supply is increased in the precise proportion needed to keep prices stable and the value of each credit the same as it always was. But no one ‘lends’ us these new credits. No banker is needed. We create them. We all benefit from them. In this fashion money becomes an instrument of service.â€
18. The Bankerâ€™s Despair
Everyone understood. The members of this little community were united at last. The following day, Abraham, the banker, received a letter signed by the five:
â€œDear Sir — Without the slightest necessity you have plunged us into debt and exploited us. We donâ€™t need you anymore — we don’t need you to run our money system; we don’t need you to run newspapers which turn us against one another; we just don’t need you at all. From now on weâ€™ll have all the money we need without gold, debts, or thieves. We are establishing, at once, a system of socialized national credit on the island. The national dividend is going to replace the national debt.
â€œIf you insist on being repaid, Paul has a become a gunsmith in his spare time and we are willing to repay you in your choice of 22, 38, or 45 caliber denominations. But you will get no ‘interest’ and you certainly will not lay claim to any of our products or properties. You cannot lay claim to that which you have not made. [Hat tip to David Sims for the gunsmith idea. — Ed.]
â€œWe reject your mentality and philosophy. And we will not permit anyone to regiment and exploit us.â€
Abraham was in despair. His empire was crumbling. His dreams were shattered. What could he do? Arguments would be futile. The five were now wise to his game — and maybe, after reading all those books, they would soon be wise to his tribe as well!
â€œOh! esteemed Rothschild! What will become of your disciple? These men now understand that credit is a national/social asset, and that they no more need me to ‘lend’ it to them than they need me to ‘authorize’ the rain to fall. Their doctrine will spread — and soon they’ll find out why I was a refugee in the first place — maybe even why my tribe has been kicked out of nation after nation! Should I beg forgiveness? — could I become one of them? I, a noble financier and chosen ruler? Never! Rather, I shall put as much distance between them and me as I can– and as fast as I can!â€
19. Fraud Unmasked
To protect themselves against any future claim by Abraham, our five men decided to make him sign a document attesting that he again possessed all he had when he first arrived on the island.
An inventory was taken; the boat, the oars, the little press, and the famous barrel of gold.
Abraham had to reveal where he had hidden the gold. Our boys hoisted it from the hole with considerably less respect than the day they had unloaded it from the boat. They didn’t think much of his gold now.
The prospector, who was helping to lift the barrel, found it surprisingly light for gold. If the barrel was full, he told the others, there was something in it besides gold.
The impetuous Frank didnâ€™t waste a moment; a blow of the axe and the contents of the barrel were exposed.
Gold? Not so much as a grain of it! Just rocks — plain, worthless rocks!
Our men couldnâ€™t get over the shock.
â€œDonâ€™t tell us he could bamboozle us to this extent!â€
â€œWere we such muttonheads as to go into raptures over the mere mention of gold?â€
â€œDid we mortgage all our possessions for a few pieces of paper based on a few pounds of rocks? Itâ€™s robbery compounded by lies!â€
â€œTo think that we sulked and almost hated one another, all because of such a fraud! That devil!â€
Furious, Frank raised his axe. But already the banker had taken to his legs in full flight towards the forest.
20. Farewell to Salvation Island
After the opening of the barrel and the revelation of his duplicity, nothing further was heard of Abraham Glucksterlingmann.
But he is not the only practitioner of his evil ways. His kind exploits and misrules every society of the West. Will the peoples of all our nations learn the simple yet powerful truths — and dare to take the necessary action — that saved the men of Salvation Island? The answer to that question is up to me and you.
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You’ve been listening to the third and concluding partÂ of “How They Steal Our Wealth” — one of the best explanations of the greatest swindle of all time — based onÂ The Money Myth Exploded, published in 1967 byÂ The Institute of Political Action in Rougemont, Quebec, translated into English by Earl Massecar, republished byÂ Racial IdealismÂ earlier this year, and edited and adapted for radio and for modern audiences by your speaker, Kevin Alfred Strom right here onÂ American Dissident Voices.
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Youâ€™ve been listening toÂ American Dissident Voices, the radio program of the National Alliance. The National Alliance is working to educate White men and women around the world as to the nature of the reality we must face â€” and organizing our people to ensure our survival and advancement. We need your help to continue. Please send the largest contribution you can afford to National Alliance, Box 172, Laurel Bloomery, TN 37680 USA. You can also help us by visiting natall.com/donate. Make your life count.Â Once again, our postal address is Box 172, Laurel Bloomery, TN 37680 USA. Until next week, this is Kevin Alfred Strom reminding you to keep on thinking free.