Etienne Chouard : l'arnaque de l'impôt sur le revenu

Well, I worked as Prof. of Law and Economics

I taught Law and Economics for 10 years

So, I taught monetary creation

like all Economics teachers do

And I taught it like it is taught today

i.e. in an absolutely non critical way

You give a description, you say 'This is how it works:

private banks create money

then, they look for refinancing according to their market share

they look for refinancing from the central bank'

and then you skip to another subject, because when you deliver an Economics course,

there are a lot of things to review, uh, not just money. There is unemployment, inflation, lots of other things.

I didn't even think

until 3-4 years ago

I didn't even think

of discussing the system, I mean basically

structurally, fundamentally, I didn't even think of getting revolted.

and... Frederic Lordon, he is a friend of mine, he is someone I really appreciate

with whom I have a lot of discussions and who said to me

when I started telling him about monetary creation

saying 'look, that's incredible, those private banks creating money'

Frederic would tell me: 'but hey, you live on an island or what?

Everybody knows that, you learn it in College'

Well, you indeed learn this in College

but what you don't learn is to get revolted with it

in College, you learn that it is the way it works and that it's fine this way

But it's not the same as if you learned it and then someone said: 'What do you think about it?'

Because, when you see how monetary creation works

you may just as well take to the street and start a fight, make a revolution!

it's absolutely in-cre-dible!

The most striking example is America

In America, before 1913

there was indeed a central bank, but it was still under control of citizens, more or less

and then there was no income tax...

there was NO income tax.

That same year, i.e. 1913, a year the Americans may as well put a black stone on

on that same year, private bankers, 5 of them

succeeded, through a plot which is... well, you should read it

it's incredible, you should really read it

two guys spent their whole life investigating it

and they have depicted it in details, it's incredible

5 bankers obtained

that when the American State needs money

no problem

we, the (private) bankers will give it to them

will... 'lend' it to them...

with a 6% interest rate.

hi hi hi, it's great!

it's great. Since then, well, there was no debt at the time, no debt at all, the United States had NO debt.

And now...

And now...

The Federal Reserve, well, they decided they would call themselves the Federal Reserve to avoid

smelling like a private central bank

The Americans did not want a central bank

they did not want to be rulled by Wall Street

they did not want it, they knew it was dangerous, they did not want it

so they had this great idea: they said 'we'll call ourselves the Federal Reserve'

and it worked, it was voted at Christmas late at night

absolute forgery, and then debt started to grow, grow, grow...

And on that same year, they invented the income tax, it's the same President, i.e. Wilson, who organised both

and income tax... listen, I don't know if it was designed that way, but

it looks like it ... it is as if

and that's ... like, like France, eh?

later, but the same in France

It is as if

First: I start with convincing the State to borrow me

I, the banker, start with convincing the State to owe me money

And then, in order to help the State raise that money, I create a new tax that will help with the fund-raising

And finally, I have the Americans work for me, nice, uh?

And I carry on doing... well, nothing, nothing else but buy a Yacht, buy this, buy that

But wait, it works pretty well and finally income tax absorbs ALL the repayment of debt in the United States

that is to say... all, all the monetary assets in the United States

which are debts, obviously

we'll have to try and explain this sometimes

money is debt

debt from the State, or debt from the bank, but debt

The same in France

All what you pay in the form of income tax

100% of what you pay

is not used to run hospitals, schools and utilities

not at all, it ALL goes to servicing debt

that is to say, it goes into the pockets of the rich who have lent to the State

because the state has given up the creation of the money it needs.

The state, it means ... The State, we, in fact, our representatives, FELONS in fact

felons, traitors, have forced the State, have forced us to go into debt with private actors

so people who, by definition, have money, if they can lend us, it means they have money

to become debtors of these people

paying them an interest

and this interest has grown, grown, grown, ever since 1973

and if you look at the deficits ... the deficits for each year

they are equal to debt service, that is to say that if there was no debt

we would have remained well, more or less, we would remained roughly in equilibrium, more or less

that is to say that, in fact, the imbalance is the formation of the debt

and debt service, NOT the refund, the refund is inaccessible, it's too much money

the debt service, just the interests, the State takes the income tax and they give it to the rich.

Gosh, it's just amazing that we accept such a system, it's just incredible that we accept it

it's unbelievable that we may call 'representatives' people who can utterly betray us like that.

When you do the maths and look at what we lack for the social security,

you look at what we need for retirement, you look at what we lack for electricity, gaz, and all the utilities ...

well, evrything is there, EVERYTHING! To know more about Etienne Chouard, please check: http://etienne.chouard.free.fr/Europe