William Bramley/The Gods of Eden/21/220/1

The privately-owned Bank of Amsterdam operated on the inflatable paper money system described above. It was run by a group of financiers who pooled some of their precious metals to form the asset base of the Bank. By prior agreement with the new Dutch government, the Bank helped Dutch forces resume the wars against Spain by issuing notes four times in excess of the Bank's asset base. The Dutch magistrates were then able to draw on three quarters of the "created-out-of-nothing" money to finance the conflict. This reveals the primary reason why the inflatable paper money system was created: it enables nations to fight and prolong their wars. It also makes the human struggle for physical existence in a modern economy more difficult due to the massive debt and parasitic absorption of wealth that the system causes. Furthermore, steady inflation reduces the value of people's money so that their accumulated wealth is gradually eroded. The Custodial aims expressed in the Garden of Eden and Tower of Babel stories were greatly furthered by the new paper money system.