"Banks must collapse in today's system"

As unbelievable as it sounds, in the current monetary system every bank can actually create money without the central bank

It works “out of nothing – out of thin air”, as I explain in my interview with Boris Reitschuster. But with every loan granted, the level of debt is doubled at the same time, because banks have to book a liability of their own with every loan: “We double our level of debt with every loan we grant. Pointlessly. It is clear that such institutions cannot last. Banks must collapse in today’s system.” Anyone who knows this can take advantage of it for themselves and for friends or relatives.

I advise ordinary consumers to invest their savings in gold or other precious metals – but only physically, not in “paper form”, as with the popular gold ETFs. Much seems to indicate “that in a transitional form of society we will once again have a currency backed by gold or resources”. We would then pick up historically at the point where, unlike in today’s financial system, debt bookings and the legal system still matched.

I do not foresee a big collapse of our financial system. I believe in a “peaceful and hopefully well-organised change of system” away from the current debt-money system, which I do not consider viable. “What we will see is the introduction of new currencies. Perhaps we will very soon have a Deutschmark and a schilling again. They will, however, be backed by gold and will also circulate mainly electronically, but since they are backed by gold, that no longer matters,” Hörmann believes. It must, however, be real gold backing, guaranteed by security measures.

To the interview with Boris Reitschuster (German)

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Article on reitschuster.de (German)

What we will see is the introduction of new currencies. Perhaps we will very soon have a Deutschmark and a schilling again. They will, however, be backed by gold and will also circulate mainly electronically, but since they are backed by gold, that no longer matters.

Prof Dr Franz Hörmann

Multiparadigmenwechsel

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