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Washington's and The Hague's Ignorance

It is not difficult finding many occurrences showing that neither the top leaders of nations, nor the men in charge of the Federal Reserve System or the "Centrale Bank," nor the men and women on Capitol Hill or at the "Binnenhof" in The Hague, know what is really going on in the economy.

I know that those remarks sound incredibly arrogant. I know also from experience that those men in charge of those Central Bank organizations, believe completely in what they are doing. They simply refuse to let any other thoughts about money and capital enter their brains than the thoughts they have had since the day they graduated or presented their doctoral theses. Some of those chairs or presidents of Central Banks have spent a part of their careers as professors at very reputable Universities. They cannot simply allow to accept new economic paradigms that make all their theories and theses totally useless. We have to face the reality that the leading men and women at the political and money front have, in all probability, no desire to lose their faces by stating that they have worked for most of their lives with the wrong economic axioms.

We have trained millions of young men and women in the field of economics to use archaic formulas and ideas to discover where the economy is going, based on empirical experiences of the past. Not one of them knows how the economy is working, because we never began a systematic analyzes of the real powers that make the economy work. We simply assumed that the money tool was a natural element. We accepted its qualities without ever asking the essential question, whether those qualities were rooted in proper scientific axioms.

While we have developed advanced technologies and developments in nearly every scientific environment, we have totally forgotten to look at the economy as a real science. We have developed a pseudo economic science based on the working of a money system that never has been properly analyzed. Not one Government ever investigated whether the money tool that we use, has the capability to serve that economy in a proper manner.

We developed an economic house without a proper scientific fundament and use the Tea Leaf Reading method to guess what the condition of that house in the future will be. The reason for this defect in our money system is easy to find. We adopted a money tool that did not develop along scientifically proven standards but that came into existence as a result of a money making scheme of some clever adventurers and their befriended aristocrats at the end of the seventeenth century.

We have inherited a system that came to live as a result of a deal between the inventors of the scheme and the British Government. The acceptance of the scheme by the British Government gave it sufficient clout to make it acceptable by the rest of the world. However, this acceptance does not mean that the adopted system had, or has ever developed, the capability to serve the economy in a proper, scientifically responsible manner.

An Archaic Money System never scientifically challenged.

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