Any economic activity that is created with the purpose of “creating Jobs” (i.e. human work) is irrational, wasteful, regressive, immoral and tyrannical.  Increases in production efficiency should provide our needs and wants while releasing us from toil.

     Distribution is an entirely different issue, to be effected increasingly by specific and appropriate means other than by earned income as technology displaces labour as a factor of production.

     Banks do not invest depositors money in industrial projects.  They create credit by issuing loans against “worthy” assets or real credit of the community for productive purposes, i.e. the loan precedes the deposit.   Banks are not borrowers and lenders.  They do not act as intermediaries between savers and investors.  They are creators and destroyers of credit, which in the modern economy serves the function of “money”.

     They create nearly all of the community’s “money” as credit in the form of financial debt.  When the purchasing-power created by a bank loan is spent, for production or consumption purposes, it immediately begins its path back to cancellation when used to repay a producers bank loan.  

     We only have bank deposits because of outstanding unpaid bank loans which increasingly are absorbed into the public debt as a permanent and expanding financial claim of the banking system against the real assets of the nation.  

     The banking system by means of fraudulent legerdemain has appropriated the communal capital, by financial-accountancy manipulation—less obviously but no less effectively than it was expropriated by Lenin and Trotsky and the point of a machine gun.