How could you know anything
about Economics when your college deans teach you the financiers’ fraudulent Uneconomics for
the purpose of skinning you of the
products of your labor?
How could you know the way the financier plays his skin-game if all avenues of publicity are closed to you along that line? The financier, who controls every avenue of publicity, hires agents to pump into you the expert slop they call Economics and they tell you that nobody knows anything about finance. You haven’t the time to make an exhaustive analysis of the entire program and therefore you accept their skin-game methods as being all right. The meaning of finance, according to the financiers, is to skin everybody. You must take time to learn the truth and not be so gullible as to take the advice of the fellow that habitually swindles you. Now I am going to give you a lesson in Economics and Finance that, I hope, for your sake, you will never forget. You know that your experts have been teaching you for a long time past that Capital and Finance are one and the same. Well, I tell you that there is as much difference between Capital and Finance as there is between milk and a sponge. Capital is wealth and wealth is anything and everything made valuable by human effort. Finance is a vacuum that absorbs wealth through a fraudulent medium of exchange. It takes everything and gives nothing. Capital is the milk and Finance is the sponge. At present Finance is swallowing Capital and crushing Labor. According to Uneconomists there are but two classes—Capital and Labor—and they say that profit and interest are the same. But I tell you that there are three classes — Finance, Capital and Labor—and that there is a big difference between profit and interest. Now listen closely: the Capitalist is the Industrialist who, by his planning and organization ability, helps to produce wealth and is therefore entitled to a just share of the wealth he takes part in creating. On the other hand, the Financier helps to create no wealth at all but absorbs it through a tricky credit system which he controls through the ownership of money. The Capitalist or Industrialist or Manufacturer or Farmer or Merchant makes a profit from a product which he helped to produce or distribute. The Financier collects interest from something he took no part in producing. He forces everybody to pay tribute on what THEY produce. In speaking of the evils of Capitalism, radical economists invariably think along the old lines when the Industrialist was in the saddle and mistreated the laboring man by withholding for himself the hog’s share of the earnings of a product given value by the combined efforts of the industrialist and the laborer. Times have changed during the past fifty |