to rabid nationalist fervor are beginning not to work.

-The business of who I am and whether I'm good or bad

or achieving or not, all that's learned along the way.

-It's just a ride

and we can change it anytime we want. It's only a choice.

No effort, no work, no job, no savings of money.

-I realized that I had the game wrong

that the game was to find out what I already was.

-We were saying,

how very important it is

to bring about, in the human mind

the radical revolution.

The crisis is a crisis in consciousness.

A crisis that cannot, anymore

accept the old norms

the old patterns

the ancient traditions.

And, considering what the world is now

with all the misery

conflict

destructive brutality

aggression

and so on...

Man

is still as he was.

Is still brutal

violent

aggressive

acquisitive

competitive.

And, he's built a society along these lines.

.

ZEITGEIST ADDENDUM

"It is no measure of health to be well adjusted

to a profoundly sick society. " J. Krishnamurti

-Society today, is composed of a series of institutions.

.

From political institutions

legal institutions

religious institutions.

To institutions of social class

familial values

and occupational specialization.

It is obvious the profound influence

these traditionalized structures have

in shaping our understandings and perspectives.

Yet, of all the social institutions, we are born into

directed by and conditioned upon

there seems to be no system as taken for granted

and misunderstood

as the monetary system.

Taking on nearly religious proportions

the established monetary institution exists

as one of the most unquestioned forms of faith there is.

How money is created, the policies by which it is governed

.

and how it truly affects society

are unregistered interests of the great majority of the population.

In a world where 1% of the population owns 40% of the planet's wealth.

In a world where 34.000 children die every single day

from poverty and preventable diseases

and where 50% of the world's population

lives on less than 2 dollars a day...

One thing is clear.

Something is very wrong.

And, whether we are aware of it or not

the lifeblood of all of our established institutions

and thus society itself, is money.

Therefore, understanding this institution of monetary policy

is critical to understanding why our lives are the way they are.

Unfortunately, economics is often viewed with confusion and boredom.

Endless streams of financial jargon

coupled with intimidating mathematics

quickly deters people from attempts at understanding it.

However, the fact is:

The complexity associated with the financial system is a mere mask

designed to conceal one of the most socially paralyzing structures

humanity has ever endured.

"None are more hopelessly enslaved

than those who falsely believe they are free."

-Johann Wolfgang von Goethe - 1749-1832

-A number of years ago

the central bank of the United States, the Federal Reserve

produced a document entitled "Modern Money Mechanics".

This publication detailed the institutionalized practice

of money creation as utilized by the Federal Reserve

and the web of global commercial banks it supports.

On the opening page the document states its objective:

"The purpose of this booklet is to describe

the basic process of money creation

in a 'fractional reserve' banking system."

It then proceeds to describe this fractional reserve process

through various banking terminology.

A translation of which goes something like this:

The United States government decides it needs some money.

So it calls up the Federal Reserve

and requests, say, 10 billion dollars.

The FED replies saying:

"Sure, we'll buy ten billion in government bonds from you".

So the government takes some pieces of paper

paints some official looking designs on them

and calls them treasury bonds.

Then it puts a value on these bonds to the sum of 10 billion dollars

and sends them over to the FED.

In turn, the people of the FED

draw up a bunch of impressive pieces of papers themselves

only this time, calling them "Federal Reserve notes"

also designating a value of ten billion dollars to the set.

The FED then takes these notes and trades them for the bonds.

Once this exchange is complete

the government then takes the ten billion in federal reserve notes

and deposits it into an bank account.

And, upon this deposit

the paper notes officially become legal tender money

adding ten billion to the US money supply.

And there it is, ten billion in new money has been created.

Of course, this example is a generalization.

For, in reality, this transaction would occur electronically

with no paper used at all.

In fact, only 3% of the US money supply exists in physical currency.

The other 97 percent essentially exists in computers alone.

Now, government bonds are by design instruments of debt.

And when the FED purchases these bonds

with money essentially created out of thin air

the government is actually promising

to pay back that money to the FED.

In other words, the money was created out of debt.

This mind numbing paradox

of how money or value can be created out of debt or a liability

will become more clear as we further this exercise.

So, the exchange has been made

and now ten billion dollars sits in a commercial bank account.

Here is where it gets really interesting.

For, as based on the fractional reserve practice

that ten billion dollar deposit

instantly becomes part of the bank's reserves

just as all deposits do.

And, regarding reserve requirements

as stated in "Modern Money Mechanics":

"A bank must maintain legally required reserves

equal to a prescribed percentage of its deposits".

It then quantifies this by stating: "Under current regulations

.

the reserve requirement against most transaction accounts is 10%".

This means that with a ten billion dollar deposit

10%, or one billion, is held as the required reserve

.

while the other nine billion is considered an excessive reserve

and can be used as the basis for new loans.

.

Now, it is logical to assume, that this nine billion

is literally coming out of the existing ten billion dollar deposit.

However, this is actually not the case.

What really happens, is that the nine billion

is simply created out of thin air

on top of the existing 10 billion dollar deposit.

This is how the money supply is expanded.

As stated in "Modern Money Mechanics":

"Of course they" -the banks-

"do not really pay out loans for the money they receive as deposits.

If they did this, no additional money would be created.

What they do when they make loans

is to accept promissory notes" -loan contracts-

"in exchange for credits" -money-

"to the borrowers' transaction accounts."

In other words, the nine billion can be created out of nothing

simply because there is a demand for such a loan

and that there is a 10 billion dollar deposit

to satisfy the reserve requirements.

Now, let's assume that somebody walks into this bank

and borrows the newly available nine billion dollars.

They will then most likely take that money

and deposit it into their own bank account.

The process then repeats.

For that deposit becomes part of the bank's reserves.