PROTOCOL No. 6
7. To complete the ruin of the industry of the GOYIM we shall bring to the assistance of speculation the luxury which we have developed among the GOYIM, that greedy demand for luxury which is swallowing up everything. WE SHALL RAISE THE RATE OF WAGES WHICH, HOWEVER, WILL NOT BRING ANY ADVANTAGE TO THE WORKERS, FOR, AT THE SAME TIME, WE SHALL PRODUCE A RISE IN PRICES OF THE FIRST NECESSARIES OF LIFE, ALLEGING THAT IT ARISES FROM THE DECLINE OF AGRICULTURE AND CATTLE-BREEDING: WE SHALL FURTHER UNDERMINE ARTFULLY AND DEEPLY SOURCES OF PRODUCTION, BY ACCUSTOMING THE WORKERS TO ANARCHY AND TO DRUNKENNESS AND SIDE BY SIDE THEREWITH TAKING ALL MEASURE TO EXTIRPATE FROM THE FACE OF THE EARTH ALL THE EDUCATED FORCES OF THE "GOYIM."
PROTOCOL No. 20
20. Economic crises have been producer by us for the GOYIM by no other means than the withdrawal of money from circulation. Huge capitals have stagnated, withdrawing money from States, which were constantly obliged to apply to those same stagnant capitals for loans. These loans burdened the finances of the State with the payment of interest and made them the bond slaves of these capitals .... The concentration of industry in the hands of capitalists out of the hands of small masters has drained away all the juices of the peoples and with them also the States ....
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27. The reforms projected by us in the financial institutions and principles of the GOYIM will be clothed by us in such forms as will alarm nobody. We shall point out the necessity of reforms in consequence of the disorderly darkness into which the GOYIM by their irregularities have plunged the finances. The first irregularity, as we shall point out, consists in their beginning with drawing up a single budget which year after year grows owing to the following cause: this budget is dragged out to half the year, then they demand a budget to put things right, and this they expend in three months, after which they ask for a supplementary budget, and all this ends with a liquidation budget. But, as the budget of the following year is drawn up in accordance with the sum of the total addition, the annual departure from the normal reaches as much as 50 per cent in a year, and so the annual budget is trebled in ten years. Thanks to such methods, allowed by the carelessness of the GOY States, their treasuries are empty. The period of loans supervenes, and that has swallowed up remainders and brought all the GOY States to bankruptcy.
28. You understand perfectly that economic arrangements of this kind, which have been suggested to the GOYIM by us, cannot be carried on by us.
29. Every kind of loan proves infirmity in the State and a want of understanding of the rights of the State. Loans hang like a sword of Damocles over the heads of rulers, who, instead of taking from their subjects by a temporary tax, come begging with outstretched palm of our bankers. Foreign loans are leeches which there is no possibility of removing from the body of the State until they fall off of themselves or the State flings them off. But the GOY States do not tear them off; they go on in persisting in putting more on to themselves so that they must inevitably perish, drained by voluntary blood-letting.
30. What also indeed is, in substance, a loan, especially a foreign loan? A loan is - an issue of government bills of exchange containing a percentage obligation commensurate to the sum of the loan capital. If the loan bears a charge of 5 per cent, then in twenty years the State vainly pays away in interest a sum equal to the loan borrowed, in forty years it is paying a double sum, in sixty - treble, and all the while the debt remains an unpaid debt.
31. From this calculation it is obvious that with any form of taxation per head the State is baling out the last coppers of the poor taxpayers in order to settle accounts with wealth foreigners, from whom it has borrowed money instead of collecting these coppers for its own needs without the additional interest.
32. So long as loans were internal the GOYIM only shuffled their money from the pockets of the poor to those of the rich, but when we bought up the necessary person in order to transfer loans into the external sphere, all the wealth of States flowed into our cash- boxes and all the GOYIM began to pay us the tribute of subjects.
33. If the superficiality of GOY kings on their thrones in regard to State affairs and the venality of ministers or the want of understanding of financial matters on the part of other ruling persons have made their countries debtors to our treasuries to amounts quite impossible to pay it has not been accomplished without, on our part, heavy expenditure of trouble and money.
34. Stagnation of money will not be allowed by us and therefore there will be no State interestbearing paper, except a one per- cent series, so that there will be no payment of interest to leeches that suck all the strength out of the State. The right to issue interest-bearing paper will be given exclusively to industrial companies who will find no difficulty in paying interest out of profits, whereas the State does not make interest on borrowed money like these companies, for the State borrows to spend and not to use in operations.
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