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vij @vijinho
, 54 tweets, 19 min read Read on Twitter
See a few tweets discussing the EURO at 20. Reminds me of a blog post I wrote about central banking in the EU, the power of central banking, and the relationship of "central bank independence" in regard to Brexit. So I will tweet a few things from it.…
1/ When the 1992 Treaty on The European Union was signed, giving unprecedented power to a new independent European Central Bank. Article 107 was of incredible importance & significance but of course politicians just signed-away.

PDF of Maastricht Treaty:…
2/ After the failed ratification of the EU Constitution, The Treaty of Lisbon was smuggled in by-the-backdoor as new rules for the EU using the 'amendments' legal loophole.
PDF of Consolidated version of the Treaty on European Union:…
3/ We see amendment of the original central bank independence clauses from The Treaty of Lisbon:
4/ Therefore it should be unsurprising that the ECB does what they want, and answers to nobody, not even the EU Court of Auditors:

5/ NOTE: The EU treaties on central banking apply not-only to the ECB (Eurozone) central banks, but to ALL central banks within the European Union, including The Bank of England.
6/ This Bank of England tweet is a typical of decisions on the economy made without public consultation. The government and the public cannot have any say in how this freshly-created credit used to by bonds, in the £billions is used and where it is spent.
7/ £10 billion of new credit to buy debt of companies goes out as CORPORATE WELFARE to companies the bank chooses. It buys debt in already well-funded foreign firms like Apple, BMW & Nestle. By treaty the UK gov cannot instruct them to only purchase bonds of UK businesses.
8/ NOTE: Note: If the Bank of England was not independent, it wouldn't be necessary for them to buy £435 billion of debt from the UK Government, because the government wouldn't even have to have issued the debt as interest-bearing bonds in the first place for them to buy.
9/ Documentary: All The Plenary's Men shows how central banks, banks & governments collude together. It shows evidence how central bank independence has become in the case of HSBC's criminal activities which escaped US money-laundering charges.
10/ The ECB structure is based on the BIS - beyond international law, outside of the UN, soverign territory, staff immune from prosecution with special diplomatic status etc. See on their website.

11/ Commenting on the EU central bank independence clauses in his 2005 book "Princes of the Yen" Professor Richard Werner, an internationally recognised economist and expert on banking and finance wrote that (my emphasis in square brackets):
12/ Princes of the Yen
A film about the power of central banks and the transformation of the economy
Based on the book of the same title by Professor Werner @scientificecon available from
13/ The Bank of England is an independent central bank and protected by the above treaties. The governor Mark Carney as shown in "All The Plenary's Men" is compromised from his role on The Financial Stability Board and regular meetings at BIS with other central bankers.
14/ The Bank of England celebrated 20 years of independence in 2017. During the past two decades the UK economy has grown punch-drunk on a credit & property debt boom which has fuelled massive economic disparity it permitted as it has ultimate control of bank credit creation.
15/ The BoE since the financial crisis of 2008 they have taken over the power of regulation of banks from the now disbanded Financial Services Authority - as the Prudential Regulation Authority. An analogy: we now have a bar tender serving loyal local drunken customers.
16/ Monetary reform campaigners have been co-opted by financial interests, Positive Money for example seems more of an astro-turf group than a group offering a real alternative to the status-quo, indeed their founder Ben Dyson actually works at The Bank Of England now.
17/ No mention of this on the Positive Money website what happened to Dyson or his important founding role & influence. Whatever the original intention, study into the background of Mr Dyson, his social media presence and videos on youtube etc, show that he has been compromised.
18/ Monetary reformers are advocating an end to private bank credit-creation and further centralisation of central banking powers. Here Professor Werner explains the truth about how bank credit creation really works.
19/ How deep do you want to go into the rabbit-hole of money, finance and banking? If you really want to understand how the economy works, the roots are in alchemy and storytelling. Essay by @DerorCurrency…
20/ What the above shows is that much of what the general public understands about money, finance and banking is actually incorrect. For example the fixation on "interest rates" and "monetary policy". Paper by Kang-SoekLeeacRichard A.Werner:…
21/ Central bank board members themselves either don't even understand what they are doing, or are placed their because of that. For example on QE:
22/ Indeed, drivers of Boom/Bust, "Credit Cycles" have been known & understand for some time. eg
Quantitative Easing and the Quantity Theory of Credit
"Towards a new monetary paradigm: a quantity theorem of disaggregated credit, with evidence from Japan"
23/ A lot of knowledge on banking & finance was understood a century ago. This empirical study, again by Richard A.Werner (@scientificecon) debunks academic theories:
"A lost century in economics: Three theories of banking and the conclusive evidence"…
24/ At the heart of modern finance, capitalism and the economic system is #usury or 'interest'. It is an insidious mechanism to appropriate wealth. e.g. National debts do not matter except when nations are unable to to repay 'interest', then crisis!…
25/ The power of credit/money creation to buy-up & control our shared reality & perceptions of money. We are mind-controlled by belief in a scarcity of money whilst the world as at least $200 trillion of debt created out of nothing, with interest payable to a global #usurocracy
26/ By this point you should understand that the truth is that all of the world's debts are just book-keeping entries & we are all led to believe that there is an awful, terrible scarcity of them! You are tricked by the false idea you have a moral obligation to repay fake debt.
27/ It's fake debt because the corp-orate (speaking dead) entities you owe debts to never even had the money (or credit) to 'lend' to you in the first place. Where are the laws that granted anyone or organisations the rights to create money out of nothing and 'lend' at interest?
28/ Anyway, back to central banks, what practical steps can be made to reform this unfair system, because revolutions have never worked. Read this very long essay: "Shifting from Central Planning to a Decentralised Economy: Do we Need Central Banks?"…
29/ And how can EU & ECB officials be made accountable for their actions? Well for a start, get-rid of shocking things like this from The Consolidated version of the Treaty on European Union. EU/ECB officials immunity, even after employment.
30/ ECB and National Central Bank (NCB) independence needs to be removed and they have to be made 100% publicly and politically accountable so that they do not have a free-hand in manipulating the so-called "free markets" (which have never actually been free).
31/ Another example on 5 February 2016, The European Central Bank announced (9pm Friday evening!) the existence of 'credit-control' mechanisms which led to the 2008 crisis. AFAIK they had previously never mentioned this to the eurozone population.
32/ The significance of this cannot be overstated: the ECB was implementing credit-creation quotas to national central banks which directly contributed to the global banking failures and financial crisis within the EU.
33/ An example of this power to prevent/cause crisis was detailed in a long-awaited report by The Bank Of Spain released 27 July 2017 by The Bank For International Settlements:

Note: There is not a single mention of ANFA in the Bank of Spain report!
34/ Another example, Ireland. IMF Report The Irish Crisis and the EU from a Distance by Barry Eichengreen.

35/ This thread could go-on but hopefully this should around some interest (pun-intended) in people to understand how the world really works, & the power of finance. Also it should clarify obstacles to real reform within the EU, and ask hard questions of EU/ECB power & eurozone.
36/ We need to change inside first if we're to build a better world, together. By design the masses are too indoctrinated, ideological and brainwashed to change, so ultimately there will be no change. Revolutions can never work except in our own hearts, souls and minds.
37/ But anyway... I'd be interested if people were to share their thoughts, provide evidence and linked documentation supporting their positions rather than memes and unattributed content to this.
38) Finally, if you enjoyed reading this tweet-storm, you may be interested in reading this blog I wrote about The Cashless Society:…
@threadreaderapp UNROLL please mate nice-one!
It could be easily argued that there is a case for suing The Bank of England and Blanchflower for negligence based on his admission in that tweet except that of course by statute he and the BoE are immune from prosecution.
On the topic of "moral obligation" over debts see the book "Debt: The First 5000 Years" by @davidgraeber
...they're placed there...
Note: Ben Dyson was not Head of Research at Positive Money, but the leader & director. Head of Research during much of this time was Andrew Jackson. Also on his website he claimed to be the founder.…
Positive Money FOUNDER Ben Dyson, in his own (now scrubbed) words (archived version):…
Issue still stands that the UK Government unnecessarily created interest-paying bonds paid by UK taxpayers because they had no power over The Bank of England which is supposedly a public institution and could not be instructed to create credit debt-free.
For example like Canada did until it joined The Bank For International Settlements.…
See Bank of England website on their fake 'Quantitative Easing'…
39) About those who talk about 'paying taxes' and 'fair-share', this US Government report from the 1980s goes to show how futile that is. #usury especially in the form of 'national debt' is a huge problem, even worse in today's US & worldwide.
Corp-oration - LEGAL FICTION/PERSON. You are NOT a PERSON. Confused?
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