Internal Inconsistency: The Protocols of the Elders of Zion as Presented in Behold a Pale Horse pp. 326-328

Protocol 21

We're still on economics, even though I was sure we'd be done with it now. This protocol deals strictly with internal loans because, according to the elder, "they have fed us with the national moneys of the goyim, but for our state there will be no foreigners, that is, nothing external."

I understand what the elder is claiming here: that because "they" control the world, there is no outside, there is nothing to be really considered "foreign." A country loaning to them is really just them shifting money around. However, this doesn't gel with what they said last week when there were clear differences between the states. The seemingly permanent problem with this book's consistency is that it wants to make the reader think that the plan is already complete but also that it can be stopped. Listen to Alex Jones now (well don't actually do that), he's both lost and about to win. The nonsense is the point of all of this because as long as no one is actually reading this stuff--it can be interpreted to say anything. 

The actual protocol starts on the third paragraph, "States announce that such a loan is to be concluded and open subscriptions for their own bills of exchange, that is, for their intrerest bearing paper." 

If you don't live in this world this is the oddest way of describing a bond. 

I do want to point out that there is no context for this sentence to begin the way that it does. "Such a loan" is a strange way to begin. Setting that aside the plagiarist then describes how such things work. The state issues a bond, people begin to buy it. The people in the beginning pay less and as demand increases the price for them increases, which then covers the cost of the loan. Ok, there's some nuance missing in this description of the bond market, but that's the eagle-eye view of how it works. 

There's an interesting bit here, "and there's more money than they can do with (why then take it?)."

Who is adding the parenthesis? The plagiarist I guess, but there's no reason to do this. Remember, this is supposed to be the instruction manual for how the conspiracy is unfolding (or has unfolded), but now the plagiarist is adding commentary. Is it Cooper? He's not done anything so far but place this work in his larger book. The answer to the question is that they are taking in money, there is no reason to not take it. The point of the bond issue was to generate funds. 

I've said throughout the Protocols and Behold a Pale Horse, that this book isn't meant to be read by anyone. It's just supposed to rile up the blood. I never thought that my recommendation would apply o the plagiarist himself, "But when the comedy is played out there emerges the fact that a debit and an exceedingly burdensome debit has been created. For the payment of interest it becomes necessary to have recourse to new loans, which do not swallow up but only add to the capital debt."

Just a sentence or two ago, the elder told us that they will have more money than they know what to do with; now they will have the problem of making payments back on interest? Pay attention to your own conspiracy theory, the money doesn't matter, because the point isn't to make money or finance a state. This is a criticism of the bond market that the elder just issued. The elder is making the criticism. 

What's happening here is that Sergei Nilus, the plagiarist, is stealing directly from Joly's work. What he knows is that the characters of Machiavelli and Rousseau are discussing something bad, but he doesn't know what it is. Nilus is getting glassy eyed reading this rather long section from Joly, he knows its important, but he lacks the intelligence to do anything with it other than blame the Jews for it. If you control the globe, you don't need to worry about whether the interest on the loan covers the debt before you issue a new loan. 

Coincidentally, although not a coincidence at all; is that this is precisely how anti-Federal Reserve Bank conspiracy theories think that money works. They'll point to a scheme like this and claim that we need to return to the gold standard, because they think that bond issuance didn't exist back then; which is factually incorrect, but that never stopped a conspiracy theory. 

The elder then claims that when they take over they will do away with all of this because, "we shall not allow the prestige of our power to be shaken by fluctuations of prices set upon our values, which we shall announce by law at the price which represents their full worth without any possibility of lowering or raising." 

No. I've been reading your book, and you already control all of this. You claim that the loan price is being raised by artificial means, which is why their was too much money, then not enough, now the price must be fixed? Just do that in the first place since you already control the money supply. 

The elder continues on that the prices of material and industrial goods will be fixed in accordance with the view of the government's need. Ok, fine, but that won't work either. Money, according to Smith, is set at the price needed to feed the population, everything else stems from that. The price of goods are going to be set at the exchange rate for labor and demand. If the elder thinks he can set the price of steel at some arbitrary rate independent of both labor and demand, his secret cabal will collapse pretty quick. The Soviets tried early on to abolish money, but they quickly learned that one function of currency is that it allows the state to measure the goods which are in demand and which are not. You can set the price of turnips at 1 ruble, but if no one ever buys them they are worthless. The flow of currency allows an entity to measure that and respond accordingly. 

This protocol concludes with the Elder claiming that, "In this way all industrial undertakings will come into dependence upon us. You may imagine for yourselves what immense power we shall thereby secure for ourselves..."

Again the "..." is the author's, which is nonsensical.

The elder is referring to a national board which will fix the prices of industrial goods. He thinks that by doing this there can be no undertakings without their permission. Which, yes, of course, we've already established their control over society, but this national credit institution is actually going to weaken it. This protocol has gone in so many circles that I can no longer determine what I'm supposed to hate: loans? Sure, but then also the abolition of loans? The bond market but then the new credit institution? I would love some internal consistency in not just this conspiracy theory but this protocol. The gremlin though is that Nilus doesn't understand the real system or the fictional system so he's defaulting to blaming both on the Jews.