Monthly Archives: August 2021

One Man’s Journey to the Covid Jab

I know Daniel Pinchbeck, we’ve corresponded on and off for many years and in 2009 he interviewed me and recorded my views on the end of money and the future of civilization. Daniel is a brilliant thinker and prolific writer whose knowledge covers a broad scope, and he digs deep when researching topics of fundamental and universal concern. For those reasons, I tend to pay attention to what he says.

I was surprised by his latest newsletter, From Vacillation to Vaccination: Why, despite uncertainty, I got the Johnson shot. This essay is long and comprehensive in outlining the many diverse sources of information that Daniel has consulted in weighing the pros and cons of the various experimental Covid injections and his somewhat contorted process of reaching his decision. He raises all of the pertinent questions about the pandemic, its cause(s) and official reactions to it, the motivations of the various actors, and the eventual outcomes and long term consequences. He provides numerous links for any who wish to become more fully informed.

Reading through it from start to finish, it occurs to me that one’s decision to take the injection or not is less a matter of the “science,” and more a question of one’s particular values, attitudes and beliefs, which are, for better or for worse, heavily influenced by each person’s cultural conditioning and the information sources they are aware of and choose to follow. That is something I know from my own experience, having had my own mind-changing “wake up call” that pulled me out of the “matrix” more than 45 years ago. I wonder, am I on the right track now? Maybe; I try to keep tabs on my internal compass of conscience and compassion by daily meditation, and I remain open to hearing different points of view. I think my conclusions are correct, but I acknowledge that I may be wrong, and that is why I refrain from telling others what to do. I can share information that I think important, and may advise when asked, but I will never coerce anyone to take off their mask, nor will I do anything to prevent them from being injected if that is their choice. Uncertainty is a constant in life and everyone has a right to decide what the right choice is for them. It is my responsibility to take care of myself as best I can, based on what I know. It is your responsibility, likewise, to take care of yourself. I will never knowingly put others in jeopardy, but I cannot allow your fear or mine to damage my personal integrity.

Despite the many alarm bells about the various Covid injections that Daniel acknowledges and references in his essay, he went ahead and took one anyway. There are three things that appear to have ultimately tipped the balance for him.

First, I detect a sense of helplessness and resignation in his statement that, “Perhaps one reason I finally acquiesced, sadly enough, is my sense that we have gone too far down this road at this point to be able to pull the brakes.” Second is his need to be perceived as a responsible member of mainstream society, which he reveals in saying, “Even though the vaccines are leaky and imperfect and I don’t trust the entire apparatus that creates them, I also desired to participate in society and do my little part.” Third is his fear (of fear) regarding the possible impact of Covid on himself and others. He says, “I didn’t want to be afraid that my failure to get a vaccine would cause my mother, or other elderly people, to get sick, or that I would get a more severe case of the Delta variant in the next months — considering its hyper-infectiousness, nearly everyone is going to get it at some point.”

That final point indicates that he believes that asymptomatic people can spread the illness and that nearly everyone is going to get it anyway, So what that boils down to is a “cover my ass” move, as if to say: “I did what I was asked to do so when you catch the illness and die it will not be my fault.”

At the same time, Daniel tried to hedge his bets by seeking out the particular variety of injection that he thinks may be less dangerous because it is more conventional and not an mRNA like the others: “I find it a bit ironic that I finally got vaccinated just as we discover that the vaccines may be more dangerous and of much less value than was originally touted. In fact, one of my main reasons to avoid the shot was concern over ADE[i], particularly when it comes to the experimental mRNA vaccines from Pfizer and Moderna. That is why I chose the less popular Johnson & Johnson one, which relies on more traditional mechanisms, even though I had to spend a day asking in pharmacies around Manhattan to find it.”

Many people, examining the same information as Daniel, have made different choices. One need not be totally against vaccinations to reject a specific injection or treatment. When it comes to bodily sovereignty, everyone’s personal choice needs to be respected. In the wake of the Nuremburg Nazi war crime trials, as well as some notorious medical experiments and studies that were conducted by American scientists,[ii] the principle of “informed consent[iii]” became established as the rule for any medical study or procedure. In considering the questions of personal choice, vaccine mandates and medical passports, the question before us is this: Shall we allow our present fear to drive us backward into that dark realm of inhumane coercion?

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[i] Antibody-dependent Enhancement is a phenomenon where the presence of antibodies makes a disease worse.

[ii] One example is the U.S.-sponsored experiment, conducted Guatemala from 1946 to 1948 in which “nearly 700 men and women—prisoners, soldiers, mental patients—were intentionally infected with syphilis (hundreds more people were exposed to other sexually transmitted diseases as part of the study) without their knowledge or consent.” https://www.history.com/news/the-infamous-40-year-tuskegee-study

[iii] “Informed consent is both an ethical and legal obligation of medical practitioners in the US and originates from the patient’s right to direct what happens to their body.” https://www.ncbi.nlm.nih.gov/books/NBK430827/

How to Fix Money, Banking, and the Economy, and Usher in a New Convivial Civilization

The jungle reclaims its own

It is clear that governments and banking corporations have long colluded in creating the present system of money, banking and finance that dominates economies around the world, and that they have no interest in making the kinds of changes that would reduce their power or share the wealth more fairly. As I have described it before, the banking cartel has been given the privilege of creating money out of thin air as debt and charging interest for its use, while the central governments get to spend as much as they want for whatever they want without regard to their limited tax revenues or the popular will.

In a recent interview, Prof. Richard Werner confirmed that fact and also explained that banks have been buying the wrong kinds of assets with the money they create, and that is why programs of “quantitative easing” (QE) have failed to achieve the outcomes he intended when he proposed them.

He argues, as I have, that we need more small banks that direct their money creation power toward small enterprises that will use the funds for productive purposes and strengthen their local economies. But the long term trend has been in the opposite direction, toward fewer and bigger banks that direct funds toward big corporations and capital funds that use the money for asset purchases, and toward central governments that use the money to acquire massive amounts of weaponry and conduct military adventures and destructive wars around the world.

But our most pressing need is to eliminate the growth imperative that arises from banks creating and lending money at compound interest. Since interest on money created as debt accrues with the passage of time and causes the debt to grow, the money supply is never sufficient for all loans to be repaid, so additional loans must be made in order to keep the money supply from shrinking and causing recessions or depressions. Since the money supply always lags behind the total amount owed, the economy is stimulated toward artificial and wasteful expansion of economic output. Not all increases in GDP are beneficial, and some are downright destructive. The production and use of weapons of war, for example, add to GDP but provide nothing to satisfy basic human needs or desires, and actually result in the destruction of existing infrastructure and death and misery for the people who happen to be on the receiving end.

If the necessary changes cannot be expected to come from the top of the economic and political pyramid, then they must emerge from the grassroots. Achievement of a steady state, equitable, peaceful and environmentally friendly economy requires deep restructuring of our systems of exchange and finance, and a shift away from debt finance and the increasing size and power of corporations and national governments.

As I’ve argued before in my articles and books, banks are supposed to perform two essential functions, the exchange function and the finance function. In the exchange function they should provide flexible short-term interest-free lines of credit to active buyers and sellers that are ready, willing, and able to provide goods and services to the market immediately or in the near term. This, in effect, monetizes the value of each business’s goods inventories or their capacity to provide valued services in the short run. As an adjunct to providing them with short-term exchange credit, banks should also provide them with credit clearing services in which their purchases are offset by their sales. This is precisely the sort of service that has been provided since 1934 by the Swiss WIR Bank (founded originally as the WIR Economic Circle Cooperative), and by the scores of commercial trade (or “barter”) exchanges that have been operating around the world.

In contrast to the exchange function, the finance function requires long-term credit instead of short-term credit. In performing the finance function banks should not create new money but should reallocate the temporary surplus funds of savers to entrepreneurs who will use it for productive purposes like capital improvements that increase their capacity to produce and distribute needed goods and services, and not for speculative and non-productive asset purchases. Further, they should provide these funds, not as interest-bearing loans, but as temporary equity that, unlike debt, causes the providers of funds to share both the risks as well as the rewards of business enterprise, and does not cause the growth imperative. If the equity stake of the bank is temporary instead of permanent, that will prevent the endless accumulation of vast pools of capital and will make capital a servant to productive enterprise rather than its master. Such equity shares that banks would administer on behalf of their depositors (savers) should expire after the original funds have been repaid to the savers along with a reasonable share of the profits that have been earned during the period of the agreement.  

By making these simple changes in the kinds of banks we have, and way money and banks work, we can eliminate the endless expansion of debt, the inequitable distribution of power and wealth, the erosion of democratic government and the despoliation of the environment, and usher in a new more peaceful civilization.

If existing banks are unwilling to make these changes, or if existing banking regulations do not permit them, they can be implemented by other organizations that are entirely outside the banking system. The commercial trade exchanges mentioned earlier have, for more than 40 years, been facilitating the exchange function by providing credit clearing services to small and medium sized businesses, and are classified by the US government as “third party record keepers” that are not subject to banking regulations. By making some minor improvements in their operations and by networking them together, trade exchanges can evolve the exchange function in ways that can provide a worldwide web of exchange in which interest-free credit is locally controlled but globally useful.

Likewise, the finance function can be, and is, increasingly provided by small investors directly to entrepreneurs without involving banks by using innovative mechanisms like crowdfunding, community investment funds, and direct public offerings. By providing investment funds to SMEs and cooperatives in the form of equity shares, interest-free loans, or revenue shares, they can help rebuild local economies in ways that make communities more resilient and self-reliant, and most of this can be achieved by private enterprise without the need to enact any new laws or regulations.

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