Lately I have been very focussed on how money creation is taking place. I will today split my speech in four parts. First I will talk about how it was for me to be a trader. Then the Monetary System. The way it really is. Then there will be a short 5 minutes break. And then we will watch a video that lasts 9 minutes. Which you can watch if you like or make your break a bit longer if you prefer that. And then I will step a bit up to the plate. Because there exist several kinds of Scams in banking. Which explains why there is an increasing divide between rich and poor. According to the latest data the 62 richest people now have as much wealth as the worlds poorest 3,5 billion people. Again there are several scams i wish to explain. So Iam just making a small point that it is ok to be angry and that I am angry about the way the monetary system has been privatised in the world biggest privatisation. And it has happened through the back door so to speak. Then I would like to speak a bit about myself. This here is my father, he was a psychologist. And all his friends were left-wing people who believed in Utopia and wanted to save the world. They also had some very interesting conversations. He was so old that he studied at the University when it they still had something called “Philosophicum”, where they learned Grammar, Logic and Rhetoric. So he said the most important to teach your children are: What is Right and Wrong, True and False and Just and Unjust. And this is far removed from the moral relativism we see creeping more and more into Movies, Newspapers and TV. Where we are always presented with for example a serial killer who is actually okay, he is just “misunderstood”. So gradually our ethics and moral are being eroded. And here i think it is good once in a while yourself to have some points of view. Jeg I am going to speak about a lot of stuff now. You can imagine how big a shock it was for me, after having been an investment banker for 30 years To realise that it ISN’T the Government who produces the money. As a matter of fact the entire Central Banking System is privatised. I had to wake up several times and study this again and again. So this is why this is serious stuff and full of huge surprises. That is why I would like to pass on the baton and why I have brought my notes and a list of litterature, which i would like to share later. To those of you who would like to dig a bit deeper. So it is an invitation to try together to change these things. In my childhood home a lot of interesting people would come to visit. Among many others, Margaret Mead, she was one of the Worlds foremost Anthropologists. She was one of my parents close friends. And there were Minister of Social Services Eva Gredal and other ministers and Members of EU-Parliament. From the Social Democratic Party. It was pretty much a lot of people with left wing leanings who wanted to make the world a better place. And then I was working on the Stock Exchange and studying Law as well as Business. And then New Years Eve I am at home with my parents and all their friends and they are great fun to be with. But I had paid kr 150 to be part of a New Years Party, so thought i should rather attend that party. And here I met my wife and we got married two months and 9 days later. And we have three grown up children who are all here today. And here you can actually see me in the background, i found it here on the internet one of these last days. And I was at a firm called ScanBroker and this guy works for Vollmond, and this one for Storhaug etc etc. And here we sit just as in two cinemas opposite each other. You have the Brokers sitting up here and if you can imagine then the banks would be sitting where you are. And then we would signal to each other this means selling and this buying. And then I would be studying Law and Finance in the evening. Then what happened was that in 1993 I told my bosses that i would like time off to study for my exams. But actually I went to London to look for a job as a trader. And I got a job at Credit Suisse First Boston that is a large Investment Bank. And when I worked at Unibank in Denmark it was very festive. We had an excellent team spirit. We didn’t get a bonus so we made almost the same salary all of us. So we had a lot of fun and were just cooperating all the time. Then I came to London where it was a bit of a Dog eat Dog World. I would get to work in the morning and those who were sitting next to me they didn’t say a word. One of them would immediately start yellinng at his broker and tell him what kind of (free) lunch he wanted send up. …and what else they should do for him. Then what happened was that the best trader had made USD10 Mio for the bank and that was what I made in 1994. And then we went to the annual Christmas Party. It took place on a large ship on the river Thames. Where there would be several live bands playing and there was a Disco. And then one of the big bosses, who loved basketball, he came over to me in front of all my colleagues and slapped my back. And then he said:”Mads I knew you could play basketball but I didn’t know you could Slam Dunk!”. And after that comment when I came to work in the morning it was people giving me High Fives. “Hi Mads” and “How are you?” And then suddenly we started saying good morning to each other and we started answering each others phone, when one of us wasn’t available. And then after I started making all that money for my employer. When you are getting a job in London normally about 10 people will have to interview and approve the applicant. So after that day I was one of the 10 who would have to approve the hirings of all economists, sales people and traders. And I thought it was fun to hire people who were nice and we could have fun and party with. So gradually the atmosphere improved. We would have a lot of fun, go on long weekends and play golf and other things. And at that time I was super pro USA. This gentleman here was the boss in Japan and he was promoted to head of trading in London And then he came over to me and asked me if I would like to go to Japan and be head of trading and then he said: “Mads, would you like to go to Japan? We need an American over there….!” And this was simply how american I was. They didn’t consider me Danish at all. So I was super super pro USA. Later we went to Hong Kong and had a lovely time there. And worked out there. And then I went back to Danske Bank (in Copenhagen) in 2008. And there my job as a trader is of course to make money by understanding which way the market is going. And there I began to ponder how it is with the people controlling the monetary policy. I.e. the Central Banks, they decide whether interest rates are going Up or Down. And they have a huge impact and influence on the economy. And then I found out, considering my job was not to lose money but to make money. I found out that very often the central banks would do the opposite of what I would have done. If I was central bank governor and my job was to secure a stable economic development. Then I would normally have done the opposite of what they did. This, I couldn’t understand. I actually concluded that if their jobs were to create economic Booms as big as possible I would give them top marks. And if their job then was to create as big a down turn as possible and maintain the recession as long as possible, then I would also give them top marks. This I couldn’t understand. I recall once in 2008 when Greece came into economic difficulties. And IMF went in and started talking about deregulations and the usual stuff. I stood up at a morning meeting in Danske Bank and said now what will happen is: What will happen is what will always happen when IMF comes into a country that is they want deregulations and privatisations. And huge cut backs in the Public Sector, and when they do that and fire 20% of the Public sector then you also have a lot fewer people in the private sector capable of buying goods so in the private sector the employment also falls. and then the prices on the stock exchange will go down and then what happens is what usually happens Big Multinational Corporations come in and raid the crown jewels of the country. This happens in country after country all over the world. Then I come to London and work for Morgan Stanley and at a dinner at Lanesborough Hotel I am grilling this person. She is the Chairwoman of Federal Reserve, at that time she was just a regular Federal Governor. And I was grilling her a lot with how come whenever IMFand World Bank went into a country that it could be that the economy deteriorated. And at that time I was not aware of how the ownership was structured. Federal Reserve is the US Central Bank, it is privately owned, it is owned by the 12 Regional Central Banks. New York Fed is the main shareholder, then you have San Francisco Fed, Cleveland Fed and all the other Regional Central Banks. And who owns these Regional Central banks? It is as a matter of fact the Investment Banks And then it is a group of private individuals whom we do not know officially who they are, we probably do know it however. But they own it through various structures such as Trusts and number accounts and what other smoke screens they have invented, So this actually means that when back in 2008 when they had the socalled TARP or Troubled Asset Releaf Program Where the Investment Banks in New York said: “we need USD 780 Billion otherwise there will be a major banking crisis”. And it will crash and everything will go horriby wrong. Then the American people said, no we don’t think you should have that money. Then the Federal Reserve went to the Congress and almost threatened them with a recession. And almost with a gun to their temple then Congress approved this payment. And this was actually: you have a Corporation that is bankrupt… ..and then you have a subsidiary who can produce as much money they want and send the bill to the American people. ..and then you can get in this example an infusion of capital in this example USD 780 Bil. What did the Banks then use this money for? I have also looked into that. They borrowed the money for 0% or something close to that. Brazilian Bonds because here they could receive 11% And when they all did it the same time these 5-6 largest investment banks then you can probably imagine what happened with the value of the Brazilian currency “the Brazilian Real” so then they received both a direct return of 11% on their bond investment but they also received a profit on the currency appreciation of the REAL in the environment of 35% as I recall it. Then in Iceland they have improsoned some of these bankers who have committed direct criminal actions. They have simply improsoned them. In USA JP Morgan has settled out of court to pay USD 25 Bill Thats an enormous amount of money So this is an out of court settlement So they have committed criminal actions to the tune of USD 25 Bill Bank of America has done it, CITIbank has done it, they have all done it and none of them has been imprisoned for it. And these people, these criminal people they own the World’s leading Central bank that govern the Money Creation in the World’s leading Reserve Currency Then Iwill start talking about the Monetary System and explain it. And this is Part 2 we will be starting now. And here I would like to say, I would like to go back and tell a little story about my father. When he was learning English back in 1939. He had a teacher who taught him how to do that. And this he did to me at my first year in College. He went up to me and said “Mads, here you have a crime novel, it is 450 pages” “I want you to read this and every time there is a word you don’t understand I want you to read on” “And try to understand iit from the context” “And not until you have seen the same word three times are you alloved to look it up”. And i was going a lot “Badum badum” in the beginning but as a matter of fact when you hit the around 70 to 80 pages then you suddenly begin to make a huge leap forward in your understanding of the language. it was a crash course it was really smart what I want to do now is we have quite a few slides we need to go through but what i want to do is to do the opposite of what everybody has recommended i do today. It is complicated subjects we will be exploring so people will maximum understand 1 or 2 things What I want to do is I will try to do the opposite I will come with maybe 50 things… and then i will encourage you, I will pass out these lists of litterature for those of you who who like as references. Books, youtube-videos and websites. That I believe could be interesting for your own self study. This is what i want to do. It will also be published on GAIAtv. So you can watch the speech again. Then another thing I also have said. It is completely crazy I stand here saying we have to try and change the Monetary System. So that it will contribute to the well being of ordinary citizens and not as it is today where it only benefits very few super rich individuals. I will document this shortly. IT is crazy because there are all these experts who know a lot more than I do But I simply feel Ihave to do it Just like the little boy who tries to hit the moon with a bow and arrow. I just have to stand up and do this now. And the reason I have to do this now is because we are a group of friends who have been working with these matters and it is I who have drawn the shortest straw because it is I who have met all these central bank governors. And another reason I maybe believe I can get the message out In a moment when we start focussing on the matter. And that is that I have a foot in each camp. I have met all these central bank governors and chief economists. My biggest Idol is Richard Werner who is an amazing economist from Southampton University. And then at the same time I have had my father and all his friends whom you can say represents the grass roots so to speak. Who are all left wing. I am myself right wing of course. But one way to bring these two grooups together could be to be a link and be in the vacuum between these two groups. And we can see that we in only 19 days we have received 106.000 unikke visits on the events Facebook page. That means 106.000 Danes have been looking at our event page on facebook. in only 19 days And we haven’t advertised in Mass Media at all. So we have had great success with the marketing. And I won’t try and compete with all these great economists We have had Irving Fisher out in the 1930’s who really determined scientifically and politically tried to re-nationalise the “Federal” Reserve. and there are a lot of similar people who have tried the same through the 1980’s and nevertheless we are still in the same situation that we have a privately owned central banking system that finances large Multinational Corporations Who are polluting our world and food and starts wars and a lot of similar stuff. And why don’t I want to compete with all these experts? Because even the biggest experts in the world can also make mistakes. For example Richard Werner in one of his youtube videos where he is in Moscow at a conference With a lot of top people from Academia, the Govern,ent, the Russian Central Bank and so on And here he demonstrated that he simply didn’t have a clue about the Russian constitution. So he can simply not understand….. he makes a perfect speech…lasting 2 hours.. It is so beautiful and so right He fights for that we get rid of the privately owned monetary system. He is in the process of making cooperative banks in Southern England. And he writes books about it. I recommend everything you can get hold of by Richard Werner. But what he DOESN’T know is that the Russian Central Bank Is actually implemented in 1993 in a Constitution that was created at a time Where Russia just wanted to embrace The West. They just wanted to get out of and forget the Bolshevistic Reign of Terror they had been put through. That with the latest data from a newspaper called Litteraturnaya Gazzeta, where there were 147 Mio Russians who lost their lives during the Bolshevism. And now they just wanted…. They had seen all these cute movies from the West… with people who had two cars, eating great food and smart clothes…. they just wanted to get out of Bolshevism. Then surprisingly the Western Banksters managed to convince the Russians that they were so poor that they actually went totally bankrupt Imagine a country that is the worlds richest country in natural resources. Imagine a country that does NOT have a single loan or mortgage in their apartments neither any loans or mortgages in their houses not a single loan or mortgage in their factories The could have financed themselves as easy as nobody else! Nevertheless the Banksters succeded convincing the Russians that they were bankrupt. My wifes paretns lost their entire savings. It was all of a sudden devalued and not worth a penny. And then they made a new Constitution where they implement a law. And it is difficult to change when it is in the Constitution, that the Russian Central Bank can not own…wait for it…. Bonds denomintaed in Roubles. One of the worlds greatest nations Are not allowed to buy its own currency! So this means the Russian Central Bank…. ….and here you have Richard Werner: “Can’t you see with the way your economy is now” “you need to get your economy going” “you have to produce some Roubles!” “Come on!” But they can’t! According to this Constitution. That was implemented due to corrupt politicians. And influenced (bribed) by the West.in 1993. So let me explain how it is today: Russia makes savings and then they buy USD Government Bonds issued by the privately owned “Federal” Reserve And there they buy these bonds giving 0,25% interest. And then to immediately borrow back the same USD from the US Investment Banks at 7%. The same money! They borrow them back again! And these money. when they borrow them at the US Investment Baanks then it is effectively the owners of the “Federal” Reserve they borrow it from! And in this fashion The Russian Republic is ROBBED for USD 60 Billion per year! So this is why it was a good investment to bribe the members of the DUMA, which is the Russian parliament, in 1993. This they made HUGE returns on! And this is why I say I refuse to compete with Richard Werner When he can be so wrong! Even in front of his colleagues. Including Professors over in Russia, there were probably a lot of them who knew he was way of the mark. I can’t compete with that. I stand here.9 months old. It is only 9 months ago I found out that money is created by privately owned banks. And privately owned and controlled central banks. That is why i will encourage everybody to investigate the matter And simply stop voting for political parties that supports this system. That I really wish to recommend! Thank you. I apologise I feel a little bit exhausted. Because I was gave it full throttle in the first speech. we had today. Another time I will probably prefer to make only one speech of three hours instead. But I will do my best. Here we have in short…. and again this is my quick one o one on how the monetary system is. And I strongly recommend a webpage called Godepenge.which is the Danish pendant to PositiveMoney. And I recommend you study this including the material I will distribute afterwards, but in short Roughly 1/3 of the Danish Population believe that the banks do what they actually try to convince us they do, which is to be intermediaries between savers and borrowers. That means: the Nationalbank poroduces the money then someone makes savings makes deposits in the bank And the banks then acts as intermediary Between savers and Borrowers. Then around 2/3 of the population have understood this thing called Fractional Reserve Banking. As a matter of fact not all the money deposited in the banks is needed all the time So you can lend more money than has been deposited. So this is what 2/3 of the population believe, but they still believe the entire money supply has been created by and is controlled by the National Bank. And that is also not true. The way the money supply is controlled is: let’s imagine we have a person who needs to borrow 1 million Then this person takes a sheet of paper And writes i owe whoever has this sheet of paper 1 million. Then he signs it. Then the bank takes it a places with the Banks Assets. And then the bank goes to a computer and types a 1 with a lot of Zero’s behind on the persons bank account Now the bank has got a Liability. This way the double book keeping is fixed. And they have produced money as DEBT. They might as well have gone down the basement and printed 1000 notes of 1000 kr. There are no difference whatsoever. It is this way they produce the money. And what happens next is that as the level of debt goes up Then the Money supply goes up out in the society And then the economy grows. This way we have growth in the economy. And then when people pay back their debt Or the bank no longer wishes to make lending and the money supply thus is falling then you get a recession and we get an economic crisis so with the current Monetary System which is privately owned and privatised and privately controlled Which is the worst! This is why we have all these tremendously large swings in the economy And if you know when these swings in the economy is materialising and you know this if you own or control the central bank then of course you know in advance when it is you plan to increase or decrease the Money Supply so this is INSIDER TRADING on a high level taking place And here we have the President of ECB (the European Central Bank) who also says the same Yes, it is the privately owned banks who produces the money. And here we have Mervyn King who also says the same It is the worst way we produce money the way we do it at the moment. And then we have another story I will recommend. You can find it on the internet Here you can find excellent cartoons about the Goldsmith This is a great story to try to understand the story about how to create money out of the thin air. The story goes: In the middle ages you had some goldsmiths and they were storing some gold. The had some big safes. And they were very good at protecting the gold. Then you have other people who also had some gold, and they realised that maybe it was smarter to place the gold in custody at the goldsmith. Then they paid a small rent to the goldsmith and placed the gold in his custody. And then they received a small piece of paper instead, if for example they came with for kr 10.000 in gold. Then they received a piece of paper saying this man has for kr 10.000 in gold and whoever comes with this piece of paper can receive gold of the same equivalent. And then shortly after when people needed to spend the gold then people realised that it was easier to use the piece of paper than it was to go down to the goldsmith and take the gold out and then go back again it is actually a lot easier “Hey can’t you take this piece og paper, then you can go down to the goldsmith yourself when you need it. It didn’t tale long then these pieces of paper started to fly around. as money as a matter of fact in the society. Then the goldsmith realised: “Hmm, it is incredible, nobody hardly ever comes to collect their gold…” Then all of a sudden a clever man got the idea…..: “What if….hmmmm…..” “I make exactly the same piece of paper once again, then nobody knows…” “hmmm….nobody ever collect the gold….” So before they knew it, the goldsmith started making gold to the tune of 4, 5 or even 10 times more than there actually was gold! And the money was doing its rounds in the economy. As long as everybody were confident the pieces of paper represented gold, the money was moving around. There are a lot of stories about how people started to become suspicious…hmmm… he gets a very tiny rent to store the gold…. and all of a sudden he buys three or four houses and hold extravagant parties…. there are a lot of stories about the first “bank runs”, where people start thinking they better get down to check if their gold is still there…. because maybe he has sold the gold. But it is a good way to understand how this money creation in the private sector has developed. It has simply developped in one of the first SCAMS. I will be revealing more scams today during this speech But this is one of the first scams there is This one with the goldsmith. Then there is a very important word to know: Seignorage. And Seignorage is the value of producing money.. In short: If you take a One-Silver Dollar and there is silver in the coin for one dollar. Then Seignorage is…you have one dollar…and for one dollar silver and one minus one is zero. Then Seignorage=zero. So in this example the government doesn’t make a profit on seignorage. But if for example you go down the basement and produce a 1000 korner bill. Then the cost is only a small piece of paper and a bit of ink. So then Seignorage is as a matter of fact 1000 kroner. And in Denmark we have DKK 59 Billion in notes and coins. And here the Danish government has actually made a profit of DKK 59 Billion. So if the amount of cash for example increases with let’s say DKK 3 Billions then the government actually makes a profit of DKK 3 billions. this is simply a profit for the Danish Government when new money is produced as notes and coins. But when money is produced by the banks as digital money it is a different story. and this i would like to cover a bit later. How it works in Part three of the speech. And then here we have a gentleman who says it actually doesn’t matter who sits in the parliament It is he who contols the money supply He is the one who decides. And we have another gentleman here Who was a central bank governor for Bank of England and one of the richest men in England. And he says it is incredible that people will accept this, system but ok! Then it has to be like this. I mean he was surprised, and even in public. Then we have some real life examples how incredibly valuable it is when the government produces the money There is a story i find truly exciting It is the US Civil War It is so that The privately owned central bank system The International Central Banking system has always had a center. IT has been in Venice aand Genoa Then it moved to Amsterdam And then in 1693 it moved to London. And then in 1913 with the Federal Reserve Act the center moves to the US. So during the civil war the center was in England. This was where they really controlled the international monetary system This was how they financed their large empire and all their power. As a matter of fact it was the South that were supposed to win the American Civil War. And England and France were supporting the South And then what happened was that the Russian Zar Send his Atlantic fleet to New York And his Pacific Fleet to San Francisco and said if you support the South Then we will support the North And then the English and the French decided to stay out But they continued to support the South economically Because the South were supposed to win and they might have won But then Abraham Lincoln got the splendid idea “We simply produce State Money ourselves” So he said to all the inhabitants in the North “Now we will produce some money calle d”Green Backs”” “..and that money you can utilise to pay tax with so when our soliders are coming to you…” “…and they get their pay in Green Backs, then…” “::it is legal tender.” “…and you have to receive this and you can use it to pay your taxes”. And it worked! It simply worked! In spite of the English tried to sabotage the whole thing… by making a lot of counterfeiting. i.e. – they send counterfeited Green Backs into the economy! Even so it worked, and in spite of this and the war it only devalued by 60% During the 5 years of war. There are a lot of examples I will also recommend to study a lot of good books. There is among others an example of a local community in Austria in the beginning of the 1930’s where They were in a deep economic crisis Austria and Germany after WWIas you can imagine but Here we had an intelligent Mayor who got the idea: We have a lot of unemployed We have a lot of work that needs to be taken care of. “What if we make some notes where it says…” “…instead of being denominated as a currency, it just says “ONE HOUR WORKED” Let’s say translated to Danish, you would get KR 100, just to pick a number… Then if an unemployed warked for one hour for the community… ..then he received 8 notes.. where it said this man has delivered 8 hours and each note represents 1 hour worked. And then it was simply agreed in the community that this was legal tender And it WORKED PERFECTLY! So this was a kind of State Money and it worked brilliantly. Unemployment fell in the respective communities there were a few communities that implemented this approach Unemployment fell from well over 20% to full employment and the entire economy despite the country was in a deep deep ecopnomic crisis These communities turned their economy around Untill…. The Austrian Central Bank which is Wait for it…. Controlled by the international Central Bank System Which is privately owned Then they stopped it. The simply prohibited it! In spite of… It was proven empircally that it was to the benefit of the people It was simply prohibited and STOPPED! And another good example is Japan after the war. What happened in the Second World War In Germany all members of the Government Either lost their head or went to the USA in “Operation Paperclip”, and got great jobs in CIA and “Manhattan-Project” and other places But in Japan the entire Government was allowed to stay. And they had maintained an extremely efficient war machine And simply continued… and instead of producing weapons they began producing consumer goods simply everything for the private economic sphere. And what happened was that the National Bank was reporting to the Ministry of Finance. And here they implemented what they called “Window Guidance” Richard Werner describes this in his book But here they created a window guidance industry by industry Where the National Bank simply set minimum levels and maximums levels for how much the banks needed to lend to each industry And this limit was set rather HIGH.. So they intentionally made a very high level of Money Supply. which boosted the economy And then there is one formula and now it is a bit boring, but it is worth it This is pretty much the only formula I want to recommend from studying Economics, it is extremely important to understand Because a lot of the formulas in econmics are based on assumptions which Richard Werner is World Champion in debunking, he is so entertaining! If you are interested in economics then he is Top-Dollar! But this one is really good to pay attention to because this is a formula that I always used when I as a trader had to figure out whether we were having an economic upturn or downturn So in short: Money Supply multiplied with the Velocity of Money Equals Growth times Inflation, so that means…. to use a concrete example which I consider quite informative and that is Iceland They had until 2008 where everything crashed But from the middle of the 1960’s up until 2008 they had an average of 18% growth per year in the Money Supply And then this is a bit of a joke but what do you think will happen with this one (GI) if this one (MV) goes up ´with 18% It is clear that then this one must increase And G and I what can that be, that can be Growth, well you cant’ get 18% growth, but they have had good growth But inflation, what is inflation well it could be food and furniture and the like but all the goods you import they won’t increase in price And that is why this I (inflation) comes in the Real Estate market So it is an absolute No-brainer for these three large banks on Iceland what would happen with the Real Estate market, it is totally insider trading, they fully knew what would happen it couldn’t be different than there would be inflation in Real Estate Prices Then we have something here, now on Iceland contrary to a lot of other countries they have actually learned something in Iceland They have actually killed 24 bankers….oups audience: “hahahahahaah” that was a bit of an exaggeration… a Freudian slip as my fathe would have said…. I am a banker myself… so I better put on my running shoes So no they jailed them, unlike in the US where they have just It is OK to pay USD 25 Billions in Out of Court Settlement if you can just call your Subsidiary “Ehhhh, we need well originally it was USD 755 Billion….but can you round it up to USD 780 Billions?” Because we just need to make an out of court settlement then it is easy, right? But this they couldn’t do on Iceland Those who did something criminal here have been convicted for it and there is a man called Frossti Sigurjonnson who is In Iceland they now have 5 out 6 political parties who agree to make this Monetary Reform State Money And there is an excellent rapport, I recommend everyone read, it is 100 pages and it is really written so that it is not rocket science very well written! In short: you have two types of bank accounts as an ordnary citizen One of them is the TRANSACTION ACCOUNT and it is in the Nationalbank And here you get 0% interest but it is in a National Bank and it is a Government owned National Bank So I emphasize it is not a Privately owned Central Bank It is a State Owned National Bank! This means there is no need for a Deposit Guarantee any more And no more “Too Big to Fail” anymore this means all the big banks going bust when they do all these types of “Victor-trades” which I will explain a bit later Well, then they can just go bust, because your money is safe, there are no longer any need for a deposit guarantee. The money is depoisted in the National Bank which is owned by the people and if the people are tired of only getting 0% in interest then they can have several different types of INVESTMENT ACCOUNTS the banks can offer and then the banks can do what they claim they do all along and the Universities claim they do and the media claim they do and the journalists claim they do i.e. to be INTERMEDIARIES! That means to mediate between saver and borrower Then the different borrowers can borrow or those who would like to save can invest in different things, you can have loans earmarked for smaller privately owned companies or something for mortage financing over 80% of the value of the house you can have a lot of different types. and in this fashion you would actually need a lot more of my old friends and colleagues from the banking industry there are 600.000 of my colleagues and friends who have lost their jobs in Europe, 600.000 good middle class jobs have lost their jobs since 2008 in spite of the fact that the banks can produce money out of the thin air they don’t even look after their own employees! It is unbelievable! So if we make this Icelandic system then it is better ALSO for the people employed in the banking industry. Then I have tried to calculate how much we make by nationalsing or take the Money Creation back to the people It is an awful lot of money! We have a Money Supply of money produced as debt by the banks to the tune of DKK 1045 Billion this is exccluding mortgages and also excluding the DKK 59 Billion in notes and coins It is DKK 1045 Billon They will have to be changed to State Money because what normally is the main argument against ..there are two fun arguments against i wish to explain But the main argument against is “But if we can’t produce money as debt in the banks..” “..then the money supply will plummet” “and then will…” You can remember the formual from before: MV=GI So if the Money Supply goes down, then G (growth) and I (inflation) also go down and that is terrible…and this is the main argument! and a lot of people believe this nonsense But the Money Supply shall NOT go down, it has to stay the same! because in the same speed the privately produced money the DKK 1045 Billion is paid back they will be exchanged for DEBT FREE and INTEREST FREE money produced by the Government. and this will be if you do this over a period of 12 years exchanged with DKK 87 Billon per year. And this money is a little bit like the example I explained before with notes and coins this is money that goes directly to the State Coffers. and when the money is at the Ministry of Finance then it can get back to the people In three ways….either in the form of tax cuts, that’s what the right wing would prefer Or it could come in the shape of increased public spendng, this might be something for the left wing parties And this I am a bit opposed to because I don’t see the need for any more bureaucracy than we already have and minimal democracy I prefer something called CITIZEN DIVIDEND because CITIZEN DIVIDEND Here we citizens who are sovereign individuals we will benefit from living in this wonderful country that we all and our ancestors have helped create And why should anyone in particular benefit more than others? It is created in the society and should benefit everybody. And here we have the amount, over a period of 12 years, it will be kr 15.818 (or EUR 2.000) per Dane, TAX FREE! and INTEREST FREE! Per Year! And then what will happen will not have any kind of inflation Because as the privately produced Money decreases with DKK 87 Billion as they are being paid back the money comes out in the society as STATE MONEY That means the Money Supply stays unchanged. This means everybody will want to buy Danish Kroner because it will be the strongest currency in the World. We simply have to decrease the value of the Danish Krone by 2%, we simply have to produce another DKK 40 Billion Kroner we have to diminish the value of the Danish Kroner by DKK 40 Billion Because…otherwise the Kroner will come under a positive buying pressure And this we do the same fashion, as CITIZEN DIVIDEND, DKK 7.272 (EUR 1.000) per citizen TAX FREE And as an additional thing Money produced that leads to Growth, if you remember the example from Austria I gave you before, with the community, and Japan This doesn’t lead to inflation, because this comes out as productivity and production. So it is safe to do this and I will say it is very conservative with only 2% if you can imagine that you as a Dane receives DKK 15.000 + DKK 7.000 + 7.000, i.e. all Danes receive DKK 30.000 (EUR 4.000) per year Including women and children and young and old etc etc then the moeny will really get out to the citizens and people will be drinking cafe Latte’s and people will repair their bikes a month earlier than otherwise and people will be going to a physiotherapist and you will get an enormous Multiplicator Effect! This calculation is extremely conservative, extremely conservative! Contrary to the present Monetary System where the Bank-Produced Money as Debt, the DKK 1.045 Billion from before they are being produced but here the Monetary Supply is on average increased with DKK 60 Billion per year Out of that money 80% is going to financial speculation and this benefits only those who can get a loan and I think those of you who know someone in peripheral Denmark know they can’t borrow anything, that is practically impossible. So our system has practically collapsed in my view if we are supposed to have a system to the benfit of all Danes then it has totally Collapsed! it only works a few people. So now let’s make the calculation once again. And it is: the DKK 1.045 turns into DKK 87 Billion per year + the inflation and the growth, in total DKK 167 Billion. This gives DKK 30.000 (EUR 3.000) per Dane DKK 2.500 per Month per Dane or DKK 10.000 per month if you are a family of four. That’s DKK 10.000 per month TAX FREE That is how much it cost us to have these privately owned and it is conservativley estimated, very conservatively! This is what it costs us RIGHT NOW to have this sick system we have right now…..that only…… take the example from my Industry my colleagues and my friends where 600.000 in Europe who has lost their jobs! Good Middle Class Jobs! Who used to be able to go out in the society and create Multiplicator Effect in the society by using Money. Then I could focus a bit on the politicians. and there are a lot, we had a nice young man who asked Samuelsen what he thought about the banks produced the money. and then he replied: “HaHaHa, you be from the Alternative, it is the National Bank, that produces the money”. Good Grief! It is true! I am not making it up! And then we have Lisbeth Bech Poulsen, who are from SF. (The Socialist People’s party) who as far as I know is the only one who has understood the Monetary System And she asked in Folketinget (Danish Parliament) Sass Larsen (minister from the Social Democratic Party) what he thought about the same question and then he starts, you can find it on youtube “Well…ehhhh…behhhh…now it is a long time since we had an exchange economy….” and he was talking gobbelygook, and Lisbeth (from SF) she was standing like this…. “What’s going on? What are you talking about?” And Vestager……let’s just skip her…. and now when i really hope many of you will take the baton because if I will be alone with this, we won’t get very far when you are continuing with studying this and we together will change this system then I would like to save you the trouble of checking the Nationalbank. They have the nerve to call it “Danmarks”, just like they in the US call their privately owned central bank for “Federal” It is a scam it is disgusting It is an excessive manipulation of the language fooling naive people who wish to believe and have confidence in the system, it is simply disgusting! And you can verify here what type of company it is here: Trusts and Foundations. It is not…It is not.. A Government entity! Okay- I will just grab a bit of water, Thanks very much. There are a lot of scams in the world. And this will probably come as yet another shocker for a lot of you, and I apologise for that. But please study and read about it, you shouldn’t just agree with me just because I say o, this is just what I have concluded. This guy is a billionaire, Al Gore is his name. And he has one of the largest company that makes money trading Carbon Tax Credits. So he thinks it is a really good idea, because then he can make another Billion. He thinks it is a really good idea to get this. He is a big promoter of Global Warming. Now people have found out the World is getting colder. So now it is called “Global Climate Change”. And unfortunately what a large part of our Western Civilisation is build upon is unfortunately a horrible man called Mathus, well maybe he wasn’t horrible, maybe he was just disillusional. But he had a theory that the world is going under and we are going to starve and htere won’t be enough food. And it is horribly stupid, if for example you take a continent as Africa where they can harvest THREE times a year! Honestly. How many believe they are starving due to…..I mean…really… It is an immense Continent. They could easily live a lot better lives down there. And the same in India and a lot of other places. And then we have another one of the “big heroes”. Well my biggest hero is John Taylor Gatto You will learn more about him if you look at my list of litterature, if you are interested. But he also mentions Darwin. Darwin writes a lot. But among other things Darwin who is also one of the “Big Heroes” in the West…Yaj! He writes that… That the Human Race consists of 70 species and out of all those the Irish is the absolute lowest race. I mean honestly, this is the level these people have who are the foundation of our universities. His book was of course published at a time during the “Potato Famine” where they killed 3 Million Irish by removing all the food from Ireland. And they did the same in India in the 19th century, they build a lot of roads then they could transport the food easily they harvested three times a year it was paradise on earth when they arrived in the beginning of the 19th century. And when you begin to study these things, it is brutal stuff So now you are warned, it is really horrible stuff I am going ot present here. Everything is from very well documented sources Then they artificially created a famine in East Bengal I believe it was. 65 Mio people died! They simply removed the food, they believed in Malthus, there wasn’t enough food. This was their philosophy. There is another example from Iran. During World War One. What i present now is first hand evidence from English people in Iran. During World War One died as many in Iran as died in the trenches…. ..during World War One. These files were declassified in the 1950’s. and not until the 00’s, i.e. 50 years AFTER it was declassified are there incidentally an Irish researcher in London who stumbles upon these files and have written a book about it. They know this because every 10 year they have a census There was 16 Mio in 1910 and tehre was only 10 Mio left in 1920. This is how they know how many died. It happened this way that the Englsih came from this side what will it be, it will be from the East. And the Russian came from the North they were allied And the Turks they came from the West, they had Iraq, and they fought all over the place. And then according to this book all the food is produced in the North and the South, but nothing in the middle. Here they need to import food othewise they starve to death, and that was exactly what they ded. If you don’t get anything to eat for 4 years, you die. The population in Teheran in 1914 was 500.000 and in 1918 200.000. So this was a genocide. And the reason we know nothing about this is because the Englsih installed a military regime. Who prohibited anyone writing about this. You can hardly find any litterature about it. But it is well documented now. From declassified material, this was just an example. And then I love to play witrh numbers. I have always love it. And then I tried to research this thing about the Earth is going under this philosophy they use to make us fight each other. We are being treated as if we are chicken in a cage, and what happens when chicken are in a cage? Then they fight and strongest they win. But what happens with chicken when they come out and walk on grass? and there are enough space? Then tehy don’t fight, they just lively peacefully alongside each other. We have the Mass Media, Films trying to convince us, there is not enoguh food,the Earth is going under and everything is terrible. IT IS A HOAX! Lying through their teeth! Now I want to try and give a good example of this. We lived in Hong Kong and had a wonderful time. This here is Repulse Bay. It is the Southern part of Hong Kong Island. We lived just behind this mountain. In a town called Stanley. And I grabbed a cab every morning here. 10-15 min every morning from here. Wonderful trip. A beautiful sea to one side and beautiful mountains to the other side. And in the weekend my wife and i and our three children we went for wonderful walks in these mountains. Normally we would walk down to Stanley market and then by the harbour. Then we walked through the most wonderful rain forrest here. And then we would come over here and eat a lovely little lunch. It was simply wonderful! And only 25% of Hong Kong is build up area. And Hong Kong is the size of Lolland (a Danish Island). 25% of the area is build up. And 40% of the area are nature reserves. There are a lot of trails you can walk in these mountains and there are tiny Islands you can visit. Where people live in cute tiny houses. And you can walk across these and find secluded beaches, it is a wonderful place to live. Then I started calculating. Hong Kong is the size of Lolland. And 11 million people live there. And remember 40% nature reserves. Then I investigated, what if you moved to Texas? With the same population density. Then you actually get 7 Billion! That means the entire population of the world could live in Texas with 40% Nature Reserves. Now I am not saying everybody should move to Texas. But this is very good to understand this Hoax, when they claim the Earth is going under tomorrow. And I think this is something good to think about. I thank you for your patience. Now we will have a 5 minutes break. And then we will start a video of 9 min and then we will start again, thank you. “It is better to be angry, if there is anger in our hearts, than to pretend “non-anger” in order to hide being impotent. Anger is to be preferred to impotence. There is hope for an angry man to become peaceful. Such a hope does not exist for the impotent”. – Mahatma Gandhi Should we start? I would like to first start by thanking once again the entire Open Mind Conference. I look forward to see them many times again. And we GAIAtv whom I am also grateful for supporting us. And we have a couple of surprises for you on the internet. It will be released on GAIAtv’s home page. Where we have made two videos of 20 minute we wish to publish. In one of them I will reveal a scam I call “The Investment Banking Scam”, I will explain it shortly. And yes I don’t think anybody has talked about it before. So we will publish it at GAIAtv. We want it all out in one go. Because I have of course been afraid there would be a lot of sabotage. Which is why I have decided not to make speeches in High Schools, public houses and community houses. I want it all out in one go. And that is also why I have encouraged as many as possible to take the baton. To make your own studies and find out where I am far off the mark Then you send me an email, so I learn something. And where I can inspire you to find precisely the area of interst to you. And then another thing is that this is for free. And there have of course been costs involved so if any of you feel it has been worth it. Then you are welcome to contribute so we can make a similar event another time. There are something going around and also a mobile number for mobile pay. You are welcome to contribute with whateveryou think. Then I will continue. There is a word in English that is almost disappearing, and it is the word Nascient. But it is a very important word, because it means, someone who is without knowledge but where it is not due to the persons own fault. I.e. if you live on a tiny Island in the middle of the Pacific Ocean, then you can’t be blamed for not being a rocket scientist or something like that. But the word IGNOREnt that is where we actively has chosen NOT to research something. I.e. we simply ignore information. And I really mean where we are now where middle class jobs are being decimated. And where we have wars all over, I really think we need to try to wake up a bit if we want to have ademocracy. and we want to have an influence on our lives. This here is my kicboxing trainer from Hong Kong. He is the World Champion. And when we trained with him, me and my colleagues then he always started by saying where does it hurt, and then it might have been the legs if we for example had been training that a lot the last time “Ahhh, it is the Good Pain!” And the next time I came, it might have been the back. “Ahh, it is the Good Pain!” It is always the “Good Pain”. And then he would just focus the training on adifferent part of the body that day. But the brain is also something that needs to be exercised. I am going to touch some very horrible things now. I hope you will bear with me, And can keep in there, but if you can’t Then you are allowed to stand up and walk out. I am not going to be hurt, don’t sit here out of politeness. We have done enough of that in school as kids. I would probably have been medicated if I had been a child today. I created quite a fuss. But… let me start right away… This man has asked the American people, you can see the sources here and it is also on your list of litterature. 90% of the American people does not want the US to be an empire. They still use a vast part of their budget to have 1000 Military bases all over the world. Well is it an Empire? 60% of the population say it is… it’s difficult otsay they are not, considering they have bases all over the place. Then he asks, and this is not just ordinary citizens on the street, this is among college graduates. I.e. people with 17 years education. “How many vietnamese died during the Vietnam War?”, and their average response is 100.000. The correct answer is conservative set at 3 million. Then here is a book I sumbled upon, it is called “Political Ponerology”, it is clearlt the most difficult book I have read. It is written by a man called Lobaczewski, he wrote it in the 1960’s. He studied Ponerology. Ponerology is the study og evil. So he is simply one of the foremost experts on psyko- and sociopats. He has studied 1000’s of them A psykopat has certain specific features. One of them is they don’t have any empathy for other people, as a matter of fact they enjoy watching other people suffer. As a matter of fact they prefer this, so they are even negative. And then he has also found out that they are not very clever For example you don’t have a single genious who is a psykopat. Most of the less intelligent ones you know the type, they end up in jail. And then among the few psykopats with an IQ just above 100 They can because they are so ruthless………. get very high up in politics and get big jobs in the big corporations. And of course not all CEOs are psykopats of course. But there is an overweight, maybe a factor 2 or 3. –over the natural average. My point is, then he also finds out they are braindamaged. So my point is you can’t really be mad on psykopats if they are braindamaged… just like you can’t be mad on a shark, it has a tiny brain the size of a pea. It is a scavenger, it just swims around eating carcasses… So I don’t think you can be mad on them but what I think we should do in an ideel world. If we could play a bit I think we should make a law that simply prohibited psykopats and sociopats to have leading postions in the public sector in the Parlament and leader of large corporations. There should simply be a test. As long as they don’t break the law, they can work, they can live, that’s not a problem But this they shouldn’t be allowed. And now he touches on something very interesting, and this is where it hits ourselves because we have all of us, I have also been an investment bankster, so we know what we are talking about. I , of course didn’t know how deeply bad it all was… I mean I knew something was wrong, but it was the IMF that was wrong and World Bank I didn’t understand it was the Centralbanks I didn’t understand it was the banks I worked for who owned the central banks I didn’t understand how deep it all went, I only understood this recently But what he describes, the reason it is possible to have such an evil system Wtih big corporations polluting all over the place, in the US alone they have 160.000 mines closed waiting be cleaned. Because what they do They come in, and thenthey have a corporation and during those 40 years they produce something. They empty the mine for something and then in the last moment when the mine is about to be emptied they transfer thewealth to some other corporations. And then when the bill come and it is time to clean up then they close the firm So 160.000 mines. That is a bill waiting for the American people So it is a big problem. And then he has found out that there exist about 20% of the populaition who are collaborators! And a collaborator is someone who doesn’t care whether he cooperates with a good man or a psycopat. An example of a collaborator could be a professionaæ football player who doesn’t care whether he plays for at club owned by a mass murderer or he plays for someone who is a decent citizen. he just wants to play football he wants to play for whoever pays the most and it is the same if you are good at making administration and working for the central administration for example STASI (EastGerman Secret Police) or something else you don’t care who you work for you just want to do the thing you are good at And then some of the things I think are across the line a kind of collaborator statements…..you here sometimes as an example when I start talking about now it is about time we stop carpet bombing people we don’t even know why we do it. For example the argument to go and bomb Libya was that Ghadafi had a female personal guard What!?! I mean if we have to bomb all the leaders who have a lot of women who would like to sleep with them we are going to be very busy. Right? It is totally one-liners the media is coming with So when i say I think we should stop waging war, then people say: “But that’s how it has always been”. What? Then how about changingit? It is such a “collaborator statement! and another one where we can really see Mathus has gained our way of thinking when for example I say: “have you seen Greece?” A low paid Greek received EUR 1000 seven years ago Now they get EUR 150…. “they live beyond their means”….is the answer…. A pensioner gets USD 190 per month. as a pension benefit Honestly!?! And then some people say: “But we are okay in Denmark” and this is the attitude we have where we feel as if we are caged hens. We fight and are the strongest because we are the good vassals to the USA so we are allowed to have little bit larger money supply and a little bit more money So everything is good for us, it is the Divide and Rule as long as we are good vassals we are allowed to be a little bit richer than everyone else So for us, we are okay and it is all build on the theory that the Earth will end tomorrow and if the Africans will need to eat the same amount as us then it is our food they will be eating, and it is simply not right! And then i have a story I would like to tell you about, and it is something I never quite understood. We were moving once in London and we had an Iraqi removal ma I began to speak with him and he told me the only reason we attacked them was to get the oil. I am a banker and used to work with numbers and found out that it made no sense! Because I calculated how much oil they produced and how much you could sell it for and then I calculated how much the military cost was to bomb them and set in the military And the cost to demolish Iraq was this much! And the oil this muc, it made no sense. But what if the bill can be send to the US tax payer and the oil you can steal goes to a few families then it is something all together different, and the way I explain it is A Coke Machine Imagine a drug addict Who makes a break in into a factory and looks for money, he doesn’t find anything then he sees a coke machine and he really needs a fix Then he walks over and take a fire axe and then he smashes the coke machine for DKK 20.000 (EUR 3.000). Boom all smashed up. And then down here he finds DKK 200 in cash. Then he gets his fix, but when the owner of the factory gets to work on Monday then he has a bill for DKK 20.000. For tidying up after this criminal act. And this is the fashion our foreign policy is being run at the moment. It is an immense destruction of country after country at an enormous cost all over the planet. And an example we are not allowed to see , but with plenty of evidence is Iraq, we were told they had weapons of mass destructions, no the West has admitted they actually had none. But now they have it anyway, because we have given it to them We have bombarded them with bombs with Uranium! To an extent that 25% of Iraq is now uninhabitable And now it will be for the next 2.000 years because the Urainium has a half ife of 2.000 years. 25% And now you have children with birth defects that are worse than Hiroshima. So we have polluted them with Uranium and it is us We are a member of NATO we are a member of this, we are part of this. And then here we have chart showing what the US spends it money on Yes, 57% on the Military! They spend 1% on food 50 Mio Americans on Food Stamps. and it costs practically nothing But the military can get money for almost anything….no problem! And here we have a short video in realtion to ponorology, it will take approximately one minute. WTF!?!?!? WOW!?! For what? I fyou are an American and you want to play baseball and have a barbecue with your neighbour 90% of Americans do NOT want to have an Empire! But nobody asks them. Those lovely people, I love to be in the US. Wonderful! They have this “can do-attitude” which is why I was so proud when he said: “Mads, we need you to go to Japan, we need an American over there”. I was actually proud of that, I took it as a compliment! Then we have a man here, who one week before he was promoted from ATP (the largest Danish public pension fund) to become Central Bank Govorner, he fired 100 people from a subsidiary called ATP ALPHA. it was the BEST performing part of ATP According to their boss Thomas Gunnarsson they had given 12% average return per year At a time when the government bonds would yield 1% or 2%, so it was a massive outperformance! A marvellous result! Nevertheless they got fired and he was capable of that he could fire 100 people, that’s okay as long as he would be promoted and get a better title. That was okay, not a problem. He just fired them straight out in unemployment at a time where among my colleagues and my friends 600.000 are unemployed! Imagine, one day you have your dream job and you are succesful and have a view from the office to Rosenborg Castle and over the park: Kongens Have Great colleagues. And then the next moment you are thrown out! Because this guy, who by the way has just employed his neighbour and he can do this because it is not Denmarks Nationalbank, it is privately owned, he can employ whoever he wants, he does not have to advertise the position anywhere and that’s exactly what he does Then I don’t knwo whether we need help with this, but let’s try. You do not want to see what you did, you do not want to deal with it Speaker: “so here is some stuff that will never appear on American television” Me:”It is tough this, so hang in there”. Well, then I can’t take anymore, what about you? This is why I really wish to encourage all of you as much as possible Preferably to be up here (pointing at “Empirically thinking”), and it is okay to be down here (pointing at “Wishful Thinking”) But not so much here (pointing at “Paradigmatic thinking”) Let me explain it, we have to, and I am also pointing at myself I am also learning all the time I am only 9 month old. It is just 9 months ago i figured out how the Monetary system is really working I have always been super Pro USA And have had Paradigmatic Thinking whenever someone would say that USA did something wrong. “No, that can’t be true”. In my paradigmatic thinking. We have to investigate facts And if they don’t fit our opinion, then accept to change your mind I would really like to encourage all of you, as friends where we talk dialectic Study the stuff, and it is okay, if you disagree, if there is respect, then you can have a good discussion and we can learn from each other. And it is also okay to be down here (pointing at “Wishful thinking”) If it is too much and too tough and it hurts too much Then it is okay, if someone can’t take it, because there are people who have personal problems. And struggles they deal with, I think that is ok. But this one (pointing at “Empirical Thinking”), we have a duty to try and follow Because the Middle Class is being decimated all over the entire Western World, we are losing our jobs all of us. And we have wars. it is I would really encourage everybody to pull yourself together Just like Alain, remember this when i t hurts, a little bit every day, “It’s the good pain”. Okay. And just to give a small example here How one can have wishful thinking: “I am not sure I wish to know what is true, because then UP will be DOWN and DOWN will be UP” “My life will never be the same” Butr again all arguments for “Wishful thinking” are based on faith…. It is a faith. It is not based on facts. We have to look at the Empirical evidence. And here is something I would recommend you look into And then we have Seignorage! Do you remember I explained about Seignorage before? Now I will present one of the really big banking scams! Seignorage is the value of producing money. Now I will explain how it can be that you can make so much money on Seignorage And nevertheless the banks go bankrupt all the time. How is that possible? It makes no sense! So Seignorage was the value of producing money For example the example with a Silver Dollar, one minus one is zero. And if it is a DKK 1.000- note then the Seignorage is pretty much=DKK1.000 Where does this go? The Seignorage. I.E. the value of producing money. It can go three places and we will go through them one by one 1 It can go to higher salaries to bank employees. 2 It can go to shareholders. 3 It can go to the customers in one way or another. And if take salaries to bank employees first, you may be able to argue that maytbe they have received a couple of percent higher But actually if you compare salaries with similar jobs with similar responsibilities then the levels are very similar. I am a member of DJØF (Danish Association of Masters in Law and Economics) and the salaries are roughly the same. And then we can look at the dividends banks are paying and there is absolutely no empirical proof that the banks have produced higher equity returns to the shareholders than in other industries. So this leaves us with only one place and that is with the customers. I will give you a clue, it is not the people paying 25% on their overdraft facility who has benefitted from the production of Seignorage. It is people like “Victor”, I know who he is. I will not tell you his surname, but I know who he is. He was buying an office building in London for GBP 100 Mio, i.e. DKK 1 Billion. So how much equity did he need to come up with? Well, if it was a real business transaction, I would say: “Quite a lot!” I mean a building for such a high price in such a volatile market as office buildings in London. He came with GBP 1 Mio. And Barclays Bank came with GBP 99 Mio! And of course Victor used a corporate entity so he limited his loss to GBP 1 Mio. I.E. Imagine a scenario, you all remember how house prices have been going up I magine a scenario where House Prices doubled. Then Victor would make GBP 100 Mio profit. And Barclays they would make an Interest-spread. They only make the excess interest so they maybe make 1% more than if they had bought a Government Bond. So Barclays can make GBP 1 Mio and Victor can make GBP 100 Mio Pretty good deal…… A different scenario, imagine we had a crash in the Real Estate Market which happens roughly every 20 year. In this case the value of the house would drop to GBP 50 Mio and Victor would lose GBP 1 Mio and Barclays would lose GBP 49 Mio. This is THE BANKING SCAM! This is how privately owned banks and privately owned central banks empties the banks for all the money they make on Seignorage! This is how they empty the banks for money and allocate it to some few super rich people. This is how they do it. Because if you year in year out can make deals where you invest one and make 100 and then once in a blue moon when you lose, then you only lose One Million. And the Bank. The Bank makes One Million, and this is what they make in all the years the market goes up but when the market drops tehy lose GBP 49 Million! So it is totally clear! It is 1st year stuff on the Econmics education. You can simply just make a Black and Scholes analysis of this And then it can simply be proven mathematically that this is a criminal act. In principle we ought to make an audit trail and look at each property deal and sentence some people to jail for making these types of deals. Because it is a SCAM! There are no Domus Pater Familias, as it is called in law school I.e. ” a good house father” This is the framework they used in Roman Law to find out who was right in a court case. Then they imagined a fictious character, a Domus Pater Familias, i.e. what would a good man do? This SCAM? There are no “Domus Pater Familias-banker” who would do this type of deal! Unless he has received a backhander og had been told from above or whatever. This was one of the scams, then here we have another scam, and this is the one I have been part of. This I call the “INVESTMENT BANKING SCAM” if we are going to get the population to beileve that the entire banking system is build upon that they are so nice that they act as Intermediaries between Savers and Borrowers Then they also need some “hollywood-acters” And what is better than to give Mads Palsvig and his friends a high salary so they can afford flashy suits give them a company credit card and allow them to eat on expensive restaurants. And when people ask, where youare from, you reply: “Investment banker!” Then people think, hmmmm…they pay them so much money so this proves that where the banks make all the money is to act as Intermediaries! Because this was my job as a Government Bond Trader I was an Intermediary, because I brokered Billions between Savers and Borrowers I was trading Billions. For example I sold Billions of Government Bonds to Pension funds that I had bought from the Central Banks. So in this example if for example a country needed to issue some Bonds Then I would sell this to a pension fund, so I was what you could call an Intermediary and this I was paid well to do. So what is this SCAM? Well. in the middle of the 1990’s he would make a profit of USD 10 Mio for his bank But this was Gross! You also needed to pay the salaries to the Sales people and they don’t make any money, you could argue they are a kind of telephone jockeys Who are sitting when the Pension Fund makes a call “Hallo, is this Credit Suisse First Boston? I would like a Billion of the “Yellow” Bonds”. Then the Sales person shouts to the trader who might be Mads: “What’s the price for 1 Billion of the “Yellow” bonds? and then I give the price, so he is just a telephone jockey, he doesn’t make anything and the same goes for Research, the Economists, Management, Back Office, IT and everybody else! So it should be easy to figure out that the amount left is not USD 10 Mio net If we then take an ordinary banker who lends out, in this case it is USD 10 Mio, it might as well have been in another currency. Ehmm….USD 10 Mio. And then if the bank uses this deposit. because when we make a deposit to the bank This is another SCAM, they call it a “deposit” “I am depositing”, as if we make adeposit,as if it is still ours, well it isn’t… We are making an unsecured loan to the bank, in this example of USD 10 Mio. So the bank takes the money and then leverage it and lends it out in this example USD 100 Mio to credit cards. And then they make USD 20 Mio profit. And this means in this example It is such that this ordinary banker he doesn’t know how much money he makes, and noone tells him to the contrary he is told, they almost lose money on his deal Let us say in this example in the early 1990’s the short interest rate was 2,5% then they told the banker: “Offer your client 3% for the deposit” and then they tell him: “you can see we don’t make any profit from this” and then the banker thinks to himself: “ah that’s why I once again didn’t get any bonus again”. But Mads Palsvig up here he received Big Bonuses. So this guy down here, he didn’t receive any bonus, he was almost told he was a loser. But in reality: THIS IS WHERE THEY MADE THE MONEY! Because they could take this money and leverage it many times and produce money. So in this example they have made TWICE as much money Net on one deal in only one day and then there are stll another 249 working days left for this chap. Where as this guy, Mads Palsvig, who was a big swinging over here In One Year Gross made HALF of what one banker could make in One Day. And he still considered himself a loser. THIS IS A SCAM! That they can pull it off! it is unbelievable! And I can still almost not comprehend it! And this I think it is the first time, well I said it in the first speech two hours ago, But it is the first time this SCAM is out in public! This SCAM here. So we need to publish this, we really need to reveal thesse bandits. Oh yeah… Then I have a fun story. “The Baseball Story”, which i think is quite cute. We are probably going a little over time today,, I apologise for that. But it is of course volunteer compulsion to sit here. For zero kroner. The Baseball Story …ehhhmmm…it is a bit of a thought example to explain how I feel. Let’s take a small boy who loves to play football, but who is not so good at it. And then it is his birthday and then the father says to him: “Congratulations with your birthday and we have decided to play football” Then he has invited a lot of guests. and paid them all to lose on purpose. So this little boy He all of a sudden scores a lot of goals, he had never tried that before, he had the best birthday party ever. It was wonderful, he had been a total winner, he was so proud and so happy. And grateful to his father, who had given him the present until he found out. somehow that the father had paid all the guests to lose on purpose. This is roughly how disappointed I am over having spend so many years of my life on doing this, I feel really betrayed, I could have spend my life doing so many other things with my life. How did it happen that the entire worlds banking system was privatised through the Back door? and this is a bit of a mystery and this is exciting to read about, even if it is also horrible and criminal. But we have the story about Jekyll Island. and other stories on this list here. But back in 1913 they go down to an Island I beliee it is near North Carolina r somewhere down there. a lot of super rich people and here they create the “Federal Reserve Act! and they present this to the Congress in December when almost the entire Congress is back home for the Holidays. and those who are left they have bribed. This way they privatise and make the Worlds Largest Privatisation! Of a Monetary System that has ever happened This a few people made. and they used this among other things to finance their participation in World War I, in spite of the entire American people absolutely didnøt want to send their children or young men to a war in Europe, they really didn’t feel like it. And then only voted for presidential candidates who promised not to do it Nevertheless they started with the Newspapers. This is a German. This is how a German looks like if you should have any doubts about that. This is a country where in 1914 at least half the population had at least one of their parents with German ancestry. 20% had both parents! huge areas of USA where they still spoke German That stopped during those four years, they shouldn’t do that again. and they changed surnames. But what happened was that JP Morgan bought the 25 largest newspapers. Fired the Chief Editors and employed new ones. and then from one day to the next they started coming with non stop propaganda against the Germans. And this was what made German Americans go to Europe to kill German Soldiers. And here we have another example, i t really looks a lot like the Germans I have seen. Here we have Ben Bernanke, whom I met back in 2004 together with Professor Hannah Scobie and one other trader. I actually kind of like this guy. His nick name is “Helicopter Ben” Because regarding this Quantitative Easing, if you would ever have deflation then you could get the economy going just be throwing bank notes out from a helicopter. that would actually have been much better than what he ended up doing. By lending to banks at 0% and allowing them to buy bonds. as I explained before with the Brazilian adventure. He has even been out in public on behalf of the Fed and apologised for causing the crash back in 1929. The Wall Street Crash! And the way they did it they own The big banks, private individuals and rich families who owns these Regional Central Banks who owns the Federal Reserve. So they have put in a layer just to complicate it a bit. It is all documented. And there are a lot in a Christian Nation, there are a lot of death bed confessions. whee some truths are revealed. so excellent entertaining. But what have they done? They have of course sold out of their holdinds beforehand and then they minimise the Money Supply with 5/8 and if you remember the example from before MV=GI. So when M and V get a lot smaller. Then G and I also have to be a lot smaller. so the equity market goes down. And then they can buy it back. And then they bought 16.000 smaller banks who had gone belly up. So these banks that owned Federal Reserve bought 16.000 small banks. Plus they bought millions of small farms. And people lost theur homes they had to walk the streets. The human tragedies caused by these people were unheard of, unheard of! Then Iwould like to explain a little bit about Geopolitics and recommend this book. This is a very good book. You can say it cleans you a bit. It is a professor from Stanford University. a very sistinguished English Gentleman, his name is Anthony Sutton. and he documents in this book how the Bolshevik revolution was financed by Wall Street. there are no discussions, there are no doubts down to the last komma, Lenin has USD 70 Mio in Switzerland. and Trotsky a similar amount. And it is very very well documented. There is a Red Cross delegation send to Skt Petersbourg with 30 people where 6 of them are doctors but 24 of them are bankers! I mean it is crazy. You really need that in Red Cross. And what is important here is to understand the Geopolitics. And if you have to control the world which is something that is very important to some people, in order to have a fullfilled life. Then the united States of America (please note I write united with small u) is a great place to be Because you have the Atlantic Ocean on one side and you have the Pacific Ocean to the other side an impassable mountainous Mexico to the South And then you have a cold enormous also impassable Canada to the North. And then you have the Mississippi River that goes all the way in through most of the united States of America and combines almost all of the States. wtih Rivers where you can easily send food and troops around. It is simply a geopolitically genious place to be. If you would like to control the world. There is actually only one place that is better and that is actually Russia. And this Genghiz Khan also found out. With only one million man. But if you control Russia and you control this entire landmass then in the end fi you control India, China and Europe then in the end you have an even greater landmass than the united States of America has. and then you can become ruler of the world, You probably know the theory that the foreign policy og England always have been to support the second strongest country on the continent. It is something there is a lot written about. And for USA (as the Corporation is called) it has been to make sure Russia would never recover. Including a tit for tat to the Russian Zar for helping the North during the civil war. In the previous example So what’s it called. It is simply well documented here. And then we have here I don’t even want to show it to you, but it is a colonel who on Fox News says a few years ago. regarding solving the crisis in Ukraine, “we just need to kill a lot of Russians”. It is just something if you start looking into things. I understand we are constantly told: “Putin is like Hitler”. But try and listen to what Putin is actually saying. It is a lot more distinguished and gentlemanlike. And here we have a map of bases, and then I would like to say, just as an example USA and Russia has made a treaty that from 2020 Then.. biological warfare is no longer allowed. The USA has said, no we need 8 more years, it is very important. So then Russia has had to accept that until 2028 the USA is allowed to have biological weapons. And then the USA has then made 5 bases where they have Biological weapon, right next to their border! “Truth is the deadly enemy of the Lie and that is why Truth is the biggest enemy of the State”, – Joseph Goebbels. Then we have several different journalists who are whistleblowers, for example Udo Ulfkotte Who says that he has received news from the CIA that he had to plant and all sorts of lies and you have Amber Lyon Where it turns out that CNN has countries as clients. So they are not allowed to come with any negative stories about that country no matter what they do. Not even crimes against humanity, it doesn’t matter. because they are a client and CNN is a BUSINESS. This goes on and on I think there are 40 or something like this. There are five firns that owns 90% of all Western Media. And they are coporations, it happened during this deregulation in the 1980’s And “deregulation” it sounds nice, it is News Speak Every time they say something they actually mean the opposite because their form of deregulation was that they went out and bought up all the small radio stations and independent newspapers and since they have all been combined in five large conglomerates and at the same they also made because they were making structural reform and deregulation and whatever they call it they also changed the rule that all media should be nuanced and present different points of view they didn’t need this any more. So now Fox news they can be NeoConservative and present only one point of vierw and it is a little difficult for the population who would like to have confidence in the media. and here we have, what have we here? a nice little cartoon. Thanks very much. and this is the book it is actually really exciting and you read it as if it is a James Bond novel or something like that. Even though it is horrible things he describes, and he has done them himself. So he was the first line So first they send out super charming men who is going to talk with the ten richest families in a given country. and makes deals with them. They then have to borrow money from the USA. And then you try and sway these polititcians to run too big government deficits on their budget. and then when that creates exonomic problems then the US Investment banks enter and destroys their currency. And then it becomes more expensive to pay back the debt, because now they need more of their own currency to pay it back. And then you get an exonomic crisis. And then IMF comes in and tells them to make structural reforms. This includes firing lot of the Publiic Sector workeers then economy tanks even more. And then everyting becomes really cheap for the multinational corporations to go in and buy up. the values of the country. And this they do all the time. He is the first line. He is the smart one. He makes parties. If they don’t listen to him, then the next line is the Jackalls, i.e. the Killers or real hitmen. And third line is the Military. This lady I met in 2008. Her name is Sandra Pianalto. I met her together with Professor Hannah Scobie. and two of my bosses from Danske Bank. He talked. And we traders knew something was very wrong. So I proposed. The Speculators had made a lot of money over the previous 15 years rally in Real Estate prices. so fair enough if htey hadn’t had a chance to sell out then maybe there would be a few corporations that would lose a bit of money but that actually wouldn’t mean too much for the real economy. But what really matters are when normal people have to foreclose and leave their home. That’s really serious, not only economically but also socially. So I proposed to her that in the US they could make a law where all the families that had an economic crisis could sell their house to the US government. for 80% of what they had paid themselves. and then they would get an option to buy back the house within 10 years for the same price. Meanwhile they could stay and pay rent, maybe 2% of the value of the house. If they had done this then everyone could have stayed in their homes. She smiled indulgently. “It would be far too complicated” she said. Instead theyu allowed Bear Stearns go bankrupt and Lehman Brothers and AIG and the entire interbank market collapsed. They made TARP and Quantitative Easing I, II and III. . I have to admit what they ended up doing was a lot more complicated. It has cost the population of the World a lot of Trillions of Dollar s. This 100% man-made economic crisis. And one of the largest fraudsters was Alan Greenspan who in the 00’s kept the monetary policy far too loose. This was where I learned they do the opposite of what a Domus Pater Familias would have done. He said, re. inflation. Well if we don’t look at Real Estate Prices and we don’t look at food and energy We shouldn’t look at food prices because they ar sky rocketing. and we shouldn’t look at oil prices because they are also going up non stop. So if you don’t hae to eat, if you don’t have toheat your house and if you don’t have to drive a car. Then there are no inflation. And if you don’t need a place to live. and the house prices go up with 30% then there are no inflation and if you take away everything that goes up you can’t argue with this! And he was in charge of US Monetary Policy. It is clearly Insider Trading. It is totally clear. They did the same in 1929. And now they did it again. They drove the prices up in the 1920’s by having a very loose monetary policy. so that everybody was borrowing to invest in Equities. If you came with USD 100 you could buy for USD 1.000. And therefore you knew that if you could get the Equity market to collapse with 10% Then everybody has to sell everything. Then we have Greece. What is so special with Greece is that the President of the parliament has set up a “Truth Committee” to investigate the Greek Debt In full public. I have followed the development in Greece to the extent I could take listening to all the Lies. I don’t think one single Danish journalist has taken the time to read what the Greek Parliament has written here. It turns out that half the Greek debt is due to purchases of Military Equipment from France and Germany. and a little bit USA, but most of it France and Germany. HALF OF THEIR DEBT! So during a period of 15 years Greece have taken on these loans. And they have had a Military Budget FOUR times larger tahn the EU average. and it is one of the poorest countries in the world, why should they have 3,5 to 4 times larger expenses for military than the rest of the EU? And you have former ministers who have committed embezzlement for EUR 20 Mio and have been imprisoned who have been part of doing these deals. And this the Greek people are liable for. So when we hear in the Danish newspapers now we are sending a Billion to Greece then it is portrayed as if the Greek citizens actually receive this money They don’t! It goes directly from an acount in the ECB directly to privately owned banks in France and Germany. who has been instrumental in making these deals, which are criminal because they are based on embezzlement among other things. Whether it is the banks or the military who have committed the embezzlement is for me irrelevant. It is just the principle. That when people do something then people are liable. But when a criminal man receives a bribe then the ENTIRE Greek people are liable! and the media who are owned by 5 conglomerates who fills us with non stop lies are participating in committing this crime. At the same time you have Victor who can make his Victor deals. Where if all goes well he makes 100 times the money And if it goes wrong then HE has limited liability. Then he loses only one million. So it is this whole mindset that is sick! That corporations can do all this and humans are liable for everything. even something some criminal political leaders have made. And there are so many examples In Bolivia they made this John Perkins situation where it went so wrong that they privatised the water. So the poorest people in Bolivia ended spending 25% of their salary just to get drinking water. Until it became too much for them then they nationalised it all again. And Madagascar, here Madagascar was invaded by France. And thenthey send the bill for the military intervention to Madagascar. The people of Madagascar of course had to pay for this, that is clear. (ironic) Then they build a lot of roads only the rich people needed. and installed some puppet leades and took out some huge loans. And then they started making big farms over this wonderful island it used to be once. Where you have kilometer after kilometer of the same crop. and probably GMO and a lot of horrible things. And Haiti who wanted its independence. They fought militarily with France and they could get their independence but htey had to pay to France for the cost France had had to fight them because they wouldn’t give it to them voluntarily. And all the French colonies even today they hae to have all their money in Banque de France it is one of the conditions for their “Freedom” we think, we are told they are free but they aren’t they are totally colonized still. They borrow their own money in Banque de France and pay interest. It is a total SCAM! And the Englsih are not a lot better. This man i met in the 1990’s. his name is Robert Parry (Governor of San Francisco Federal Reserve) What i can remember he said was that: “A Dollar is a Dollar”. And it was the question, just as we hear a lot about “dollar collapse dollar collapse” Just remember the Americans are not so stupid to do the same thing they recommend the countries in South America. and in Asia and in a lot of other countries, to borrow in a foreign currency. The Americans have no foreign debt. “A Dollar is a Dollar”, the Americans only borrow in Dollars. So this means if the Chinese are tired of the USD and wish to sell the US Bonds Then that is NOT a problem, who many Dollars do you want? They just print them themselves. So therefore they are totally relaxed with this economic crisis. Then of course they have some people who also support the market and manipulates the market. As an example take the oil price where they have managed to make the price drop in order to create problems for Russia and Iran. “US Bombing List”, the Democracy World Tour They are keeping busy. “spreading democracy” Just to explain how serious this is, they have to STOP, even the Americans 90% of them do not want to be an empire! Hawaii for example. In 1893 40.000, that was the entire adult populaition signed a Letter of Protest to America That they would like to have their Queen back in power. They did not want to be a colony. US didn’t pay any attention They don’t even have a single island, they have the Southeastern part of Mauii. You shouldn’t go there if you look like this. With the Philippines, it didn’t go as smooth for the Americans. Here they committed a genocide on 1 Million people in 1898. We don’t hear too much about this, do we? It was 10% of the population! The population did not want to be a colony they fought and fought And there are tons of files that document the Americans committed war crime upon war crime Where they went into villages and killed everybody, women and children. killed all of them. This we also don’t learn! Tasmania, the English the same. when they had killed as many as they could they simply did it the way your organise a hunt. you have som people who are clapping and then the soldiers stand another place they took the whole Island, even if it was a big island, and walked across it There is not a single Tasmanian left. Not a single Tasmanian! Boer war, India I have told you about, there was this genocide of 65 Mio people they starved to death and Iran I have told you about. And even ourselves with Greenland, here we have the info from the Church books. What we did when we saw a Greenlander, we actually arrived before them, they came a few hundred years after we did but when they came, and instead of trading with them and learn to eat fish Because the Danes that lived on Greenland would only eat meat. Which i s why we created a man made environmental disaster but that is another story. But we became extinct because we didn’t learn to trde with the Greenlanders. We didn’t learn to eat fish. And didn’t use the nature as it was intended. And here we know from the Chruch books. And then we poked them in their stomack to check the color of their blood. What? This was the way we were ourselves as well. Then you have Guantanamo Bay. There are actually only 148 prisoners. 79 of them have been released because even US military Courrts couldn’t find anything wrong, what soever. And the way they caught them, they needed some terrorists. So they simply contacted some people in Afghanistan: “Ehm…we need someterrorists”. “Well we can’t really find anyone” “Okay we will pay a reward” Funny that! Suddenly some warlords found a lot of terrorists. “That guy over there he looks like a terrorist, doesn’t he? How much did you say? USD 100.000?” Then they captured them and send them off. Totally innocent people. Who had lived in peace the day before. All of a sudden they are in a military plane on their way to Cuba. And we have Libya we have talked about. With 2 Million refugees outside their own country. There was 1.7 Million Libyans in Tripoli who demonstrated in support of Ghadafi and this is also not shown on the media but the small NGOs created by George Soros popping up every where where you have 5.000 paid agents running aroudn. For example in Georgia, honestly? How stupid do they think we are? Are there anybody who believes that a Georgian all of a sudden decides to produce a perfect placcard in American and English, honestly! Don’t you think they would do this in their own language!?! Hallo! It is incredible they think we are so stupid. But this was 1.7 million people who didn’t want NATO bombing them. But we did it anyway. Also us Danes. 15% of all bombing raids were pepetrated by Danish F16 planes. So I am not saying the present Government in Iran is good, but they haven’t attacked anyone since 1775. They simply haven’t. And we know, it is totally mainstream, that CIA got rid of the democratically elected president Mossadegh in 1953 in Iran , It is totally mainstream. It is not even in any way controversial. And then as another example of how incredibly skilled the media are Here at BBC they already know 20 minutes before Tower 7 has collapsed they know it already. Really predictive at a high level. Then we have, and again it is totally mainstream, false flag, if any of you don’t know what that is then it is very important toresearch it The Governments in the West use it Non Stop. They claim they don’t do it any more but it is a bit like a recovering alcoholic, honestly! Do we believe them? This is USS Liberty. even in wikipedia where they have people sitting and editing all the time What happened was Israel encoutered some unexpected resistance in Egypt Then they got the idea, if they bombed a US Ship and said it was the Egyptians, then they could get some action And the reason it went wrong was because the pilots (Israeli) couldn’t understand it and kept asking so it ended up being a very long conversation and it was intercepted by some Americans ..and they became a little bit angry. because some of their friends died from it. So it happende this way, they were flying over USS Liberty and then the pilot heard the message in his radio: “Bomb the ship” And the pilot said:”But it is USS Liberty”. “Bomb the ship”. “But it is an American ship”, “Bomb the Ship” and it went on and on several minutes, the pilot was close to refusing to do it. in the end they bombed the ship for 75 minutes. And it never sunk, but it was a false flag, they did it and afterwards they have had to pay compensation to the US, they have admitted it, and apologised. And then we operation Gladio,I recommend you research this, and this time it was the CIA This is also totally mainstream! Aldo Moro (Italian Minister) if some of you are as old as I am will remember he got murdered. and then it was supposed to look like Italian communists had done this. But it was done by the CIA And among many others there was a terrible one on the train station in Bologna. Where a lot of women and children died. And they tried to blame the communists. It is totally mainstream. With witnesses from high up in the society, ministers for example. There are no discussion, I also recommend you research this. “Most terrorists are false flag terrorists, or are created by our own security services” – Robert Steele, CIA Whistleblower. So we are getting there. This is a bit of brainstorming I would like to share. with people and thanks again for so many people coming here But I propose the Government produce the money in the shape of Citizen Dividend. It is an awful lot of money, for a family with four it is DKK 10.000 (EUR 1.300) per month tax free. On top of what you make now. DKK 10.000 per month will give an immense multiplicator effect in the society. and then i find totallt amoral, i refer to Political Ponerology, and psychopatic that anyone can get rich producing arms. Because if you are a CEO of a Military Equipment producing company you have an incentive to create more war. It can not be right! That is why I don’t think it is right that anyone can get rich from war. even during World War I there was created 21.000 millionaires on the US. From the war when they convnced the US to enter the war late in the war in 1917. And the medicine companies, it is the same if you are the CEO of a medicine company and you find the cure for cancer Then you might get a medal and then you are fired. You won’t get popular, but if you can find some pills you can sell to 40% of the Danish population Then you will get promoted and get big bonuses. So this is wrong too. And it is the same with oil companies that is self evident. And if we really are going to have “deregulation”, then it can’t be right that 5 corporations owns all our media. That is crazy. We have freedom of speech for five large corporations! And the rest of us, thank God for Open Mind Conference, then we can stand here. And people ask, if I am afraid and it must be dangerous. It is incredible we have stooped so low. Can it be true. Then I also mean it can’t be right that politicians can attend secret meetings. I can’t see anything they need to discuss in secret. It makes no sense to me. Then I propose to reintroduce the turnover tax. It is simply a tax on all digital money transactions. Because at the moment it is the case that The Multinational Corporations they demonstrably don’t pay any tax. They really don’t. Smaller businesses who does business in Denmark they pay tax, but large corporations they don’t pay anything. They have companies in various countries and they demonstrably do not pay tax. But if we make a Turnover Tax… The VAT the corporations can deduct and only pay the net amount The Turnover Tax has to be paid every single time. If for example you deducted 1% every time there was a digital transfer. So if you trade in more parts then you pay each time. It is not possible to deduct anyway. It goes directly to the State coffers. You could even do like Ghadafi. He suggested to split the oil revenue per capita equally to each citizen. (maybe another reason the US wanted him very dead!) So you could also use the turnover tax to increase the Citizen Dividend. And then I suggest to double the amount of cash in the country. We shouldn’t trust these banks who create one boom and bust cycle after the other. They made the world largest Privatication without the people approved it anywhere. that they should become privately owned. And then stop war. This is just a fun story, we are nearly at the end. But it was back in 1973. We moved to Jutland and then we had the big election where ERhard Jacobsen from CD (Center Democrats) and Mogens Glistrup from Fremskridts Partiet. We had big political discussions in the class I can remember. Because they were very popular and all the kids voted the same as their parents I of course voted for one of the left wing parties, but the rest of the class they voted for it was a battle. Jacobsen or Glistrup. And the argument that won in the end for why one couldn’t vote for Glistrup was because Glistrup ate Marzipan Bread! And this was the level we were at in 3rd grade and sometimes when you talk with some people who have 17 year education and you hear their view on an important subject regarding foreign policy, we are on the verge of war, and a lot of countries are already at war then you just hear these kind of one-liners Produced by these media such as Putin, oh yeah that’s Hitler. And Ghadafi, oh yeah he has all those women. Well great then let’s just bomb his country. I mean this is the level, you almost have more intelligence in 3rd grade in Eastern Jutland Because at least you could say here you have something you could argue realating to health, I mean it is this bad! So let’s fihgt this and agree to start to study. And stick together And if you are as crazy as I am and start to talk about these matters at work and at dinner parties and so on, then you will be called tin foil hat and as I was being called on RADIO 24/7 this morning “Rabiat” You will be called “conspiracy theorist” and so on. And there is only one thing to say and that is: It is better than being a COLLABORATOR! We don’t want to be Collaborators with the most evil empire in the world. and I am not saying it is the 90% sweet Americans who do not want it but it is a numerically small amount of economic interests who are making all the problems for us. and it has to stop. And here a small tribute to my dear father who really fought for and believed the best in the world andUtopia etc. and then in conclusion thanks a lot to Open MindConference I hope a lot of you…it was the best conference I have been to back in Speptember. I am trying to start an internet page with some friends called vorespenge.com And it is not a competitor to GodePenge. GodePenge is also very good. I will recommend everyone, there is a lot of good info there. I would like to start a debate where you can imagine that the Money Creation is the aboslut most important. and everything is around it. The medicine companies that keeps us sick and the entire Military Industrial Complex getting fed by death and destruction all over the world. But the most important is the Money Creation. We need to nationalise this Money Creation. And we need to distribute the money to the people and have confidence that they spend the money wisely. some might take a longer maternity leave some want to be artists some want to study and others something else We need to have faith in each other instead. Then I don’t know if I need to say something else, well maybe something about donations, but maybe Frank wish to say something about that. I will try to answer a few questions. I don’t knwo so much about Goldman Sachs interests. Is it ok I answer a few questions. Will a nationalised Monetary System also be based on the current Growth Economy And here I just want to say that we have so many examples that the productivity will increase dramatically such as the one i mentioned in Austria. And Japan’s economic miracle after World War II I am not saying we should be polluting. But you might have people building Bio Domes to be selfsufficient with biodynamic vegetables There are a lot of stuff you can do to create a better life be more healthy So it is clear we will have a lot more growth! And you will have more jobs. Just as you can say with regards to the public sector. You have the “cold hands” and the “warm hands” The “warm hands” are those who tend the elderly and schoolteachers “The Cold Hands” is the admnistration and bureaucracy. Have I not been suspicious until after 30 years. And I have, that is why I came with all the questiosn, because I could see there was something wrong. The numbers didn’t add up. But it is actually not until I met some new friends and they introduced me to the facts very patiently. Much more patiently than I have treated you today, so I hope you can forgive me. This one I can’t answer. Hong Kong is not selfsufficient, but if everybody moved to Texas then we could produce plenty of food anywhere else. I don’t really know about bitcoin. What can you do yourself? That is a good question I would like to finsih with. We have to stop voting for politicians who support a criminal banking system. And it is cirminal. JP Morgan has committed cirminal acts to the tune of USD 25 Billion. That is how much they have settled for. Just because they havenn’t been convicted doesn’t mean they are not guilty. So we simply have to ask our politicians do you want to change this or not? And if they won’t then we have to stop voting for them. that’s it. I am sorry to say it, but that’s what I mean. So I don’ know if we should stop here, but I am very inteersted in a debate if anyone has further questions. You can get in touch on vorespenge.com my email is [email protected] and then if everybody help a bit with the chairs, we have people coming all the way from Southern Jutland. and has set all of this up, all is based on volunteer work. and if you have donations then we ca make some more events. That would befantastic. And thanks alot for coming. 106.000 unique visits on facebook in only 19 day since we opened the event. It is incredible And when I see the audience and we have both men and women and in all ages. It was even better at the first speech today I think it was 50/50 men and women. I can see we have a few more men this evening. It is incredible, we have all ages and from all parts of society And it is really really wonderful to see. And thanks so much for all the sweet messages I have received in the last couple of weeks. It has been very touching. Thanks very much.