Incredible description of everything that is wrong with our financial system:
"At one point the EU pushed to redesign the entire donor and financial architecture for Palestine [...] so that Palestinian finances would remain under constant supervision and control. The message was clear: any political language, any position they did not like, and the money could be shut down instantly."
This is not a bug but a deliberate feature of our financial system, which eerily closely resembles that designed by Hjalmar Schacht – the former finance minister of Nazi Germany.
According to Schacht, money did not need real world backing but could be governed by state enforcement.
This allowed for total control of the economy: banks, corporations, and individuals who disobeyed the party line could simply have their money devalued without immediate consequences for the rest of society.
Political reputation became your credit score while all forms of exchange were controlled by the state, enabling the Nazis to destroy entire livelihoods by cutting dissidents off from the financial system completely.
We always talk about the need for financial reform, but never about the fact the financial system we live under today is one that has its origins in the literal antithesis to democracy – and it is still being used for these purposes today.
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