The Big Reset, War on Gold and the Financial Endgame - Willem Middelkoop (PDF, Eng)

"American bankers have found that for which the ancient alchemists sought in vain, that which turns everything into gold - in their own pockets."

Book description from https://www.goodreads.com/book/show/18526919-the-big-reset

"A system reset is imminent. Probably even before 2020, the world’s financial system will need to find a different anchor. The dollar has been at the center of the monetary system since the Second World War, but decades of money printing have caused a gradual but relentless dollar devaluation. In a desperate attempt to maintain this dollar system, the United States has waged a secret war on gold since the 1960s. China and Russia have pierced through the American smokescreen around gold and the dollar and are no longer willing to continue lending to the United States. Both countries have been accumulating enormous amounts of gold, positioning themselves for the next phase of the global financial system."

QUOTES:

In a financial system where money is not backed by something substantial like gold or silver, banks can create virtually limitless amounts of money by creating new loans. All money is created in the form of credit (new debt). If all loans were to be paid off, all money would disappear. Because interest has to be paid on every loan, however, more and more new money (i.e. debt) has to be created. We call money that is created during this process of unbacked money creation, fiat or fiduciary money. Its value rests on the confidence that goods or services can be paid for.

It is no surprise that countries that chose to sell their oil for currencies other than the dollar were to meet serious opposition from the US. In 2000, Iraq converted all its oil transactions under the Oil for Food program into euros.(76) When the US invaded Iraq three years later, oil sales from this country switched from the euro back to dollars instantly.
Iran created its own oil bourse in 2008.(77) It started selling oil in gold, euros, dollars and yen. Venezuela supported Iran’s decision to sell oil for euros. Libya also presented a threat to the petrodollar in 2010. Muammar Gaddafi wanted to create a pan-African currency called the gold dinar that could be used for their oil transactions. After the ‘revolution’ in 2012, Libya continued to sell oil in dollars. Syria had switched to euros in 2006,78 and the US has been seeking a regime change ever since.

Nowadays, bank reserves are held as currency or as a deposit with the central bank. Commercial banks can take out loans from the central bank based on assets on their books. The money for this new loan is created out of thin air and credited to the commercial bank’s account at the central bank. Now the bank can use this new money to fund new loans or investments.
So money creation starts at the central bank. By typing a few numbers on the computer, unlimited amounts of new money can be created. If, for instance, 10 billion is created this way, then this amount will be transferred from the central bank to a commercial bank.13 The receiving bank can then sell loans to the value of 90% of this 10 billion. The amount of 9 billion is transferred onto another bank’s account and this party will lend out another 90% of the 9 billion (= 8,1 billion). This process can continue until the original 10 billion from the central bank has generated extra credit in the amount of more than 90 billion.
This is the theory known as fractional banking.

The perpetual character of the first national loan was replaced in most countries by bonds with a duration of up to thirty years.
Actually, these loans are almost never paid off but ‘rolled over’ continuously. New loans pay off old loans. Whoever sees this as a Ponzi scheme44 is quite right.
This British model was so successful that other countries soon started their own private central banks. It all led to a mountain of government debt, which now totals around $ 50 trillion (as of 2012). There is no way this debt can ever be repaid in non-deflated currencies. Strangely enough, most of the money that is supposedly safely invested in risk-free bonds are most at risk.

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