Most people unfortunately will give me a blank stare when I mention the literary genius that is Ezra Pound. An American expat who emigrated to Italy
and supported the Axis in WWII who was then imprisoned in an animal cage before being sent back to the United States to be locked in a mental
institution rather than a prison (a form of tested punishment at the time), luckily Pound was soon released and moved back to Italy where he lived out
his remaining days a very quiet man. But before departing the US he made the comment that the “United States is a giant insane asylum”
(paraphrasing of course).
Now that you have a bit of his history in your head time to move onto the subject at hand, his statements on gold and the Rothschilds. Pound was a
great literary genius but one subject he adored was economics, it was this passion which led him into trouble when he decided to support Fascism in
Italy as the only viable alternative to Anglo-American Financial Capitalism and Soviet Bolshevik Communism. He became a great annoyance to Western
industrialists and merchants with his works, especially when he wrote about the monetary system.
Already gaining a considerable following and being respected among those in right-wing circles from New Jersey to Venice his work had an impact on
many individual’s politics during the 1920s, 30s and 40s. It is important to note that what made him a likable person to constitutionalists in the
US is that he opposed any form of Fascism here as in Italy because he believed that the Constitution was the best example for governance in our
nation. His belief was one shared by the old Conservatives and modern New Right intellectuals, there is no one-size-fits-all for nations, each country
should adhere to its own unique customs.
One area that would divide him from the modern Libertarian Right especially is over the gold standard and this is where the heart of my thread
begins. Pound argued against the gold-standard, preferring a further elaboration and testing of social credit instead, but upon arguing against the
gold-standard he stated this:
“The trick is simple. Whenever the Rothschild and other gents in the gold business have gold to sell, they raise the price. The public is
fooled by propagandizing the devaluation of the dollar, or other monetary unit according to the country chosen to be victimized. The argument is that
the high price of the monetary unit is injurious to the nation’s commerce.
But when the nation, that is, the people of that nation own the gold and the financiers own the dollars or other monetary units, the gold standard is
restored. This raises the value of the dollar and the citizens of “rich” nations, as well as citizens of other nations, are diddled.”
For this exact reason he supported Fascism in Italy, for any form of Financial Capitalism inherently involved such treasonous activities. Pound went
on to further state:
“The definition of an idea, as observed by someone who understands the events of the day, may shed more light on the historical process than
“History, as seen by a Monetary Economist, is a continuous struggle between producers and non-producers, and those who try to make a living by
inserting a false system of book-keeping between the producers and their just recompense.”
“The usurers act through fraud, falsification, superstitions, habits and, when these methods do not function, they let loose a war. Everything
hinges on monopoly, and the particular monopolies hinge around the great illusionistic monetary monopoly.”
His conclusion for why the Anglo-American world was so corrupt and degenerate was that there was a close alliance between government and finance to
defraud the public in their nations. This is the only way monopolies can exist; it is due to state protection and a close relationship.
According to Pound Fractional-Reserve Banking began after businesses were created by families who then began to issue receipts for gold and silver
deposits, this eventually led into the issuing of more receipts than they had in gold and silver deposits. The reason this did not originate within
the sovereign (Kings) is because they did not want to risk their power by gambling like that however they did find themselves becoming dependent upon
these bankers to issue the loans.
This turned into the business of central banks as the Kings and Parliaments needed easy access to lots of money and credit. The bank would become a
national Fractional-Reserve Bank and have the ability to regulate the size of money, collect taxes, issue paper currency and sell sovereign debt.
However a very strategic part for the bankers involved was that they would know ahead of time when emergency borrowing would tick-up (back in the days
of the gold-standard). Add to that those who sat on several different central bank boards had knowledge of the deposits and income of each state,
during war time this allowed them to place bets on the winner and make enormous sums.
So why was the gold-standard so idolized by the elites? It increased irregularly and usually slower than the rate of population growth which meant
that the value of loans would increase overtime along with the burden on the debtor. And it was for these reasons that Nazi Germany was so despised in
its beginning. Hitler had abandoned the gold-standard which allowed Germany to avoid default by simply printing more money, then he took back the
power of central banks by having the state issue notes in payment to laborers, contractors, and suppliers directly rather than go through the central
If the Third Reich maintained monetary growth at the same speed as the growth of GNP then there would presumably be no inflation. Add to that the
government issued debt directly to their citizens fueling what was called the ‘economic miracle’ and crushing the opportunity of central bankers
to cause financial panics and meltdowns as they had before which led to the Great Depression. Is it any wonder why the Third Reich was the mortal
enemy of the Anglo-American financial elites?
Pound had argued that this was a similar path the leaders of the early American republic took to take control away from the London financiers. It is
no wonder why he supported the Axis with beliefs like these. But it was not about just blaming any elite for the problems, they may be the ones
enacting it but they can do so only because of the complacency and ignorance of the public in every country which they control. Take away their power
to print and manage a nation’s money and watch them die out like pouring salt on a snail.
I shall add my personal opinion that neither a gold-standard nor unregulated fiat currency are acceptable, both can be manipulated by the financial
elites to our loss. The Fractional-Reserve Banking practices and all forms of usury must be wiped from our nation(s) if we are to ever enjoy the fruit
of our own labor, the greatness of our homelands, and the end to unjustifiable perpetual warfare organized by a self-appointed mob of scoundrels at
the top and the brainless masses who roam the bottom of the socio-economic pyramid.