Howard Switzer
3 min readDec 1, 2024

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Yes, money means freedom and debt means slavery. What they don't tell you, and probably don't know, is that all the money is created as interest-bearing debt whan banks make loans. They don't know becasue it is not taught anywhere. The loans consist of the principal, created as a deposit to be paid back with interest, which was added to the debt. As the principal is paid off, that money is extinguished while the interest, which must come from the principal of another loan, goes to profit the bank owners and into asset pools owned by the wealthy. This is the economic growth imperative as society competes to pay the interest on its debts and not lose their collateral.

However, when loan payments (money destroyed) exceed loans being made (money created) the system crashes into recession or depression for lack of money and loans default. This is by design and depressions have been created by the banks by just not lending. This then becomes a massive wealth transfer from the many to the few. The banks profit off of us coming and going. On average, 50% of the prices we pay for goods and services are "capital costs", interest going to the banks. Accumulated money is power, which corrupts, the power to create it is absolute power.

As former World Health Organization director Margaret Chan explained, "most of her organization’s funding comes from private donors and that they decide what that funding is to be spent on." In other words, only money talks, those who fund the WHO tell it what to do. This is true not only of the WHO but of nearly every public and private institution in the world including governments, as the 2014 Princeton study on political influence by Gilens and Page proved.

Capitalism began as a French word, capitalisme, used to refer the system of war finance, or the practice of borrowing large amounts of money to fund the costs of war." War debt was in fact how the capitalists got monarchies to hand over their monetary authority to the wealthy private interests. So, capitalism dominates the ownership of the raw materials, the means of production, exploits earth's resources and labor, concentrates wealth, creates poverty, drives destructive growth, predatory competition and all wars. That is what capitalism does …but what IS capitalism? What does the word literally mean?

Capitalism = (capital = money) + (ism = system) = money system. The central feature and source of awesome power for capitalism is the debt based private global monetary system they own and operate through the global banking system. Capitalism is often wrongly conflated with “free enterprise” and “free markets” but capitalism assures that these are NOT free. This is because Capitalism is a debt parasite on the back of free enterprise making every household, business and government in this world in debt and dependent on the banking system. There is far more debt than there is money due to compounded interest. Global debt is about $315T while the entire global money supply is only $85T, total debt in the US, public and private, is about $100T with a money supply of only $21T. The fact that our privately issued money is allowed to be a store of value allows the massive accumulation of it into few hands. As Henry Kissinger said, “…if you control the money you can control everything.”

The monetary system proposed by the Green Party is Constitutionally aligned just as Lincoln’s Greenbacks were. When the Greenbacks were issued, debt began to disappear from the economy, interest rates went down, and people were feeling more freedom. All the progressive political parties of the late 19th century had monetary reform at the top of their platforms. They wanted more debt-free publicly issued money to build out the nation’s physical and social infrastructure. They lost and the capitalist juggernaut crushed them. So, like a giant phoenix rising from the ashes, we need a movement big enough to overwhelm the current political system and change the monetary system if want a peaceful and prosperous world.

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Howard Switzer
Howard Switzer

Written by Howard Switzer

Howard Switzer is an ecological architect and monetary reformer in rural Tennessee.

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