Why Jews are good at money

10 posts

Jargon
I would contend that, though Jews didn't invent the double-entry bookkeeping which seems by most opinion to be the fundamental discovery of finance, they did create two of the most powerful institutions of all time: one being the International Gold Standard and the other being the widespread prevalence of a money supply predicated on the demand for credit (fractional-reserve banking, privately-created currency, what-have-you). I haven't read enough on this topic as I'd like to, and it's difficult to find books worth reading here as 90% of it is demonology.

But Niall Ferguson, the court historian of usura, proudly admits on its behalf that the Rothschild family created the International Gold Standard. -- If the court historian freely gives up what has been for two centuries a point of contention held by many discredited populist circles as a given fact, are they not then validated?-- Due to each of its sons being located in the major financial centers of the European powers at the time (London, Paris, Vienna, Frankfurt, Naples and Geneva), they were able to build a network of communication which allowed them to convey price differential information between each place, creating enormous opportunity for arbitrage. This arbitraging was mostly in the nat'l currencies as priced in gold. This scheme yielded them so much wealth and power that the London branch of the family would for a long time set the global price of bullion at the London Metals Exchange. This institution of information-passing and hypervigilance is what created the modern idea of governments being accountable to the market; that political decisions must be made with regard to what the financial community would have to say about it. This story is no doubt familiar to many here and is probably discredited due to its mythic and over-used quality. But if both sides of this issue, both the populists and the Niall Fergusons of the world, agree that the Int'l Gold Standard is the Rothschild's creation, then who are we to disagree?

Re: privately-created money, I think this is much less of a hard-and-fast fact relative to the former, or at least I haven't read anything which gives a hard-and-fast account, but perhaps one doesn't exist. It would make sense for one not to exist, as the creation myth of Fractional Reserve Banking is that it just sort of appeared one day. It began as a convenience, was unchecked by the authorities who were unable to understand its true significance, and later embraced by authorities who thought it could be weaponized for their own gain. And it could be and was, England's entire historical success is due to it being the first power to unhesitatingly embrace and purvey the philosophy of rent-seeking. This topic can certainly be read about and apprehended, but I just don't know of any satisfactorily definitive texts; no accounts of the individuals and their exercise of power to create the institution.
Thesokorus
Jargon

I think John Law (gambler, duellist, art dealer, economist) is credited with conceptually severing money from gold or wealth. His scheme in France almost worked and did end up freeing the Sovereign from most of his titanic debt. It was probably the first "private-money".

And the English Ideology seems to have been a landless upper middle class bent on world domination via economic warfare and usury.
Gruppenführer Glitter

Seeing everything and anything as a commodity that can potentially be sold or bartered:

[​IMG]

Tony
We have it - the real redpill on the JQ is that gentiles made them the way they are WHAT HAVE WE DONE
Trolle Lege
"The Jew has emancipated himself in a Jewish manner, not only because he has acquired financial power, but also because, through him and also apart from him, money has become a world power and the practical Jewish spirit has become the practical spirit of the Christian nations. The Jews have emancipated themselves insofar as the Christians have become Jews." Karl Marx, On The Jewish Question.
Thesokorus
Niccolo and Donkey
This is a very interesting quote because right around that time that Church was trying to figure out what to do about the rise of finance. Over a decade ago I was researching usury and the Church due to a debate I had on a libertarian forum regarding the topic of Jews and finance and the Church in the second half of the 20th century noted in I think an encyclical (I will need to check again) that the nature of money had changed with the rise of industry and finance and that the old prohibition on interest would not work due to this significant change but still ruled that excessive interest was usury and still therefore a sin.
Thesokorus
Cicatrizatic
Here is a paper putting forth a theory on the endogenous origination of fractional reserve banking (and thus private money) from warehousing:
Thesokorus
Cicatrizatic

Cool paper. I won't pretend I followed the math but I think I followed the logic and it makes sense. Fractional reserve banking started with warehouses because they could avoid depreciation of deposits and also seize those deposits in case of default.

The analysis of liquidity ratios and narrow banking and capital requirements re: liquidity creation and efficiency was very good too. Good to know that at least one form of regulation (increased capital) can have some effect.