Franz Hörmann (1960), Austrian economist and associate professor at the Vienna university of Economics and Business.
Modern economics is an instrument of power, and one of the tools of power relations in our society is the monetary system. There is a lot of new knowledge and technology that cannot be applied as long as the current monetary system is used as a medium of exchange. It is time to change this system.
Since middle ages, people left the administration of their money – even its creation and annihilation – in the hands of self-styled experts, bankers, who, on closer inspection, turn out to be incompetent and, unfortunately, often fraudulent. Even today they still use medieval methods of fraud, only the designations are changed. The financial markets are using ‘bubble economy’, a construct that was called a pyramid game a few decades ago and is still punishable as such.
The society has given its democratic sovereignty in financial policy to the banks and made itself by borrowing and interest payment to these banks to the instrument of investment and property interest. The virtual monetary system does no longer correspond to real values. With interest and compound interest, it leads to the global redistribution of wealth from the borrowers to the financiers; this creates an extreme inequality in society.
Through language games, the population is fooled and made docile with absurd fake arguments. Nonsense is then also taught and tested in schools, and young people are trained by the grading system to endure unfair and authoritarian evaluations by numbers without resistance; they are prepared for their future as underpaid labour slaves for the society of heirs and owners.
Franz Hörmann. The end of the money. Guide to an eco-social society. ISBN 978-3-902533-33-3, PDF for download at http://www.franzhoermann.com/