from WakingTimesMedia Website
of populists in recent years
by doing that which no other nation in the world
seems to be willing or capable
Iceland has gained the admiration of populists in recent years by doing that which no other nation in the world seems to be willing or capable of doing:
Their effective revolt against the banking class, who drove the tiny nation into economic crisis in 2008, is the brightest example yet that the world does not have to be indebted in perpetuity to an austere and criminal wealthy elite.
In 2015, 26 Icelandic bankers were sentenced to prison and the government ordered a bank sale to benefit the citizenry.
Inspired by Iceland's progress, activists in Switzerland are now making an important stand against the banking cartels and have successfully petitioned to bring an initiative to public referendum that would attack the private banks where it matters most:
Switzerland is in a key position to play a revolutionary role in changing how global banking functions.
In addition to being the world's safest harbor for storing wealth, it is also home to the Bank for International Settlements (BIS), a shadowy private company owned by many of the world's central banks, and acting as a lender to the central banks.
The BIS is the very heart of global reserve banking, the policy that enables banks to lend money that does not actually exist in their bank deposits, but is instead literally created electronically from nothing whenever a bank extends a line of credit.
Reserve banking is the policy that guarantees insurmountable debt as the outcome of all financial transactions.
The Sovereign Money initiative in Switzerland aims to curb financial speculation, which is the intended and inevitable result of reserve banking, the tool that makes financial adventurism possible by supplying the banks with endless quantities of fiat money.
Limiting a bank's ability to produce money from nothing would be a direct blow to the roots of the banking cartel, and would cripple their ability to manipulate the world economy.
Here's how it works, in rather simplified terms:
In Switzerland, 90% of all money in circulation is electronic, and for this, The National Bank of Switzerland has become the direct target of the Sovereign Money Campaign.
Swiss law has in the past required required banks to back all currency creation with collateral assets like physical silver or gold, however in recent decades the climate has changed, and,
The grass roots campaign said in a public statement regarding the intentions of the referendum,
This is an interesting twist in the human saga of man vs. banks, and while it remains to be seen if the referendum passes or not, it must be pointed out that it does have its own problems, articulated by Sam Gerrans:
Part of the cultural conditioning of our time is an ingrained, pre-assumed dependency on sacred cow institutions like banking.
Just like it is impossible for most Americans to envision a world without Democrats and Republicans, it is difficult for most people to imagine a world without predatory global banking.
Yet, there are a number of other possibilities for trading, storing wealth, and facilitating development in the world.
This is not the only economic system we can imagine, and as Iceland has proven, people can regain control of their collective wealth, so perhaps this revolution will foment further in Switzerland, presenting a chance to at least bring greater awareness to the truth about central banking.